Leap Your Way Out of Debt!

Trying to get out of debt? Since today is Leap Day – we thought we would pass along this helpful information from Dave Ramsy, nationally syndicated radio talk show host, New York Times Best Selling Author and Founder of Financial Peace University. For more information about Dave Ramsey, visit his website at: www.daveramsey.com.

Enjoy – and Happy Savings!

Frugal Living

1. Start couponing. It's worth the time, and you can save a ton of money.
2. Cut cable. Welcome to 2012, where you can watch most of your favorite shows online. Put that $80-per-month cable bill toward your debt.
3. Stop eating out. If you don't know where all your money is going each month, we're pretty sure Applebee's can locate it for you.
4. Visit the library. Remember libraries? They have free books you can borrow! Free is a lot cheaper than Amazon!
5. Plan your grocery trips. Or, follow your stomach, who really doesn't care about your budget. Your choice. Get tips for cutting your grocery bill.
6. Learn the word "no." Learn it. Make it a new part of your vocabulary. Love it. Embrace it. Because, when it comes to money, you'll be saying it quite often. Practice with us now: "NO!"
7. Tell the kids to shut up. When it comes to money, the kids can be a worse guide than your stomach, and they don't care about your budget either.
8. Avoid expensive hobbies. $200 a month on golf? And you don't even have a 401(k) or a college fund for your kid? Are you serious?
9. Use eBay or Craigslist. Sell your stuff. Or, better yet, if you have a skill for making something, put that skill to use by making stuff and selling it online.

The Dave Ramsey Basics

10. Sell the car! The average car payment is more than $400 per month. Everyone, say it all together: "Sell the car!"
11. Stop making excuses. If you don't want to get out of debt, then guess what? You're not going to get out of debt. To win with money, you have to change the way you think.
12. Cut up your credit cards. Shred ‘em. Burn ‘em. Shoot ‘em. Drop ‘em in a trash compactor. Cut ‘em up while skydiving. You'll never get out of debt until you stop making debt a way of life.
13. Use the envelope system. You spend less money when you use cash.
14. Get on a budget. So unoriginal, right? But it's true. You'll never get out of debt without knowing exactly where all your money is going.
15. Listen to The Dave Ramsey Show. Every day, Dave helps millions of people across the country find hope with their money. His advice will help you too. Listen online.
16. Merge bank accounts. If you're married, you and your spouse should share the same account. When you got married, "two became one," right?
17. Stop investing. Yes, you read that right. Once you're debt-free, then start putting 15% of your income into a retirement plan.
18. Use your tax refund to pay debt. The beach will still be there next summer. We promise.
19. Build your emergency fund. Start with $1,000. After you're out of debt, build the fund to three to six months' worth of living expenses.
20. Ignore your broke friends. Twenty years from now, you won't have a financial worry in the world, and they will still have car loans, mortgages and credit card bills. If they call you crazy, like Jeff and Crystal's friends did, you're on the right track!
21. Subscribe to My Total Money Makeover. MyTMMO has one of the most active and exciting financial forums on the planet. Our members love to talk money. Plus, as a MyTMMO member, you get access to archived shows, budget tools, fresh articles and all sorts of other cool stuff.

Get Creative

22. Give more. Wait a minute … give more? Yes, giving changes your spirit. Make giving a priority in your budget and you'll see a difference.
23. Ask for a raise. Why not? Unless you're sitting at home reading this article right now, after calling in sick with a "sore throat" for the fourth time in three weeks. If that's the case, maybe you shouldn't ask for a raise.
24. Don't quit your day job. You're in debt, so you need money. Pursue your dream while you are working your day job. Learn how. When you're debt-free, you have so many more options because money isn't an issue.
25. Get a part-time job. This guy made nearly $20,000 a year delivering pizzas. No excuses!
26. Stay away from get-rich-quick schemes. If it smells like a pyramid scheme, then it's a pyramid scheme. Don't get hoodwinked by a smooth-talking salesman. Check out six scams to avoid.
27. Get in shape. Better health means fewer doctor's bills. Walk, run, lift, press. Just get off the couch and do something!
28. Read a book. Instead of watching mindless television, read a book … from the library that you've already visited for free!
29. Take a successful friend to lunch. Find someone who is doing things the right way—with money, with marriage, with life in general—and do what they are doing. Get to know them.

The bottom line is that you've got to get serious about getting out of debt if you really want to do it. Don't let the next leap year come around with you still up to your eyeballs in credit card bills.

Alright, now that you've got some great ideas for how to start beating debt, get the support you need to do it. Sign up for Dave's Financial Peace University today. Classes are starting every week, so find a class near you now!

Consider Your Source

Dale and I just read an article from the Business Insider about home search sites such as Zillow, Trulia, Relator.com, etc. Before reading our reflections, we think you ought to peruse the article: Zillow and Trulia Face Backlash from Real Estate Agents.

So, where do you go to search for homes? Zillow? Trulia? Realtor.com? Colorado Home Finder? The list goes on and on … and each home search website has its "Pros and Cons". Some allow you to search by map/location, some by price point and some by a complex list of criteria. The problem is that these searches download their information from the MLS - which is a field orientated download and not all of the information lands in the correct spot on each of these sites. In addition, they each download information at various times and not all of the information is up-to-date or accurate. Example: We have a home currently listed for sale that is a true custom home. It does not fit into the "two-story" category, nor the "ranch", nor the bi-level, 4-level, etc. It is simply a unique floor plan (and very very cool, I might add)! We have these specific floor plan comments provided for in a section called "Broker Remarks" so that each agent is aware of the unique floor plan. The problem? This specific floor plan information does not translate or download to these various home search websites. So, the information appears to the general public as inaccurate and we have no way of modifying the information on each individual website. Annoying? Yes. Especially for an OCD, Type-A person like me.

Lately, Dale and I have been working with several buyers - and they all get their primary source of real estate information from websites such as Realtor.com, Zillow, Trulia, etc. Because we do not have the ability to control 100% of the information that is downloaded to each of these sites and because we have no ability to change the information, we simply choose to embrace the positives and do our best to educate our clients on the inaccuracies. Of course, we are constantly searching the MLS database for properties that fit our clients needs. For our buyers, we have automatic searches created that pull all new properties on a daily basis to ensure we do not miss anything that our clients may have interest in. But, we also know that our clients are going to browse homes on their own. And sometimes, they may find something that we did not present to them. So, we simply ask them to email us all of the properties that look appealing to them. And then - we do our homework. We first confirm the availability and current price. We can then do mini-CMA's (comparative market analysis) to ensure the property is priced reasonably within competition, we call the listing agents and inquire about activity, current offer interest, etc. And of course, we confirm showing instructions and set showings on behalf of our client. In our experience, 9 times out of 10, the properties our clients have found online (that are not included in our searches) have either been withdrawn from the market, gone under contract or sold and the information they have found is simply outdated. It's frustrating, but it is a problem that exists and so we deal with it upfront when we begin working with buyers.

We do agree with the crux of this article, but we also acknowledge and understand that buyers in this market place with access to online tools such as these sites will continue to use Zillow, Trulia, Relator.com, etc. And, until the information exchange policies change for each of these sites, we will continue to experience error and misrepresentation. So, our recommendation is to go ahead and continue using them as a tool, but not to rely on them as the totally accurate.  And, if there is a property that peaks your interest, please call us - or email us. We will provide you with accurate and complete information quickly!

The other experience we have is that our listings also download into these search sites as well. So…many times we find inaccurate information on the properties we are marketing.  We make every effort to get the search sites to correct, but we are not always successful.  So, we get the problem on all sides!

Bottom line?  These sites are great sources for MOST of the information, but nothing beats a phone call to the source to dig up the accurate information and do a little research!!

Best,

April

Today's Soup: Seafood Bisque

Thank you, Maureen Clark for another awesome pot of soup!

Ingredients

2 Cans (10 Oz.) Cream Of Mushroom Soup, Undiluted

1 Can (10 Oz.)   Cream Of Celery Soup, Undiluted

2-2/3 Cup 1% Milk

4 Chopped Green Onions

1 Cup Finely Chopped  Celery

2 Garlic Cloves, Minced

1 Teaspoon Worcestershire Sauce

1 Teaspoon Hot Pepper Sauce

2 Pounds Uncooked Medium Shrimp, Peeled & Devined

1 Can (6 Oz.) Lump Crabmeat

1 Can (6 Oz.)  Whole Mushrooms, Drained

¼ Cup Madeira Wine Or Chicken Broth

½ Teaspoon Salt

1 Teaspoon Pepper

Directions

In A Dutch Oven, Combine The First 8 Ingredients, And Bring To A Boil.  Reduce Heat, Add Shrimp, Crab, & Mushrooms And Simmer, Uncovered For 10 Minutes. Stir In Wine, Salt & Pepper And Cook An Additional 3 Minutes. 

Nutrition

Yield:  12 Cups

1 Cup Equals 170 Calories, 6 G Fat (3 G Saturated Fat), 127 Mg Cholesterol, 817 Mg Sodium 10 G Carbohydrate, 1 G Fiber, 18 G Protein

Colorado Micro-Market Real Estate Reports

Knowing about the real estate market on a global level is important, but each of us know how difficult it can be to understand the real estate market on a micro-level. Even in areas the size of metro Denver, market trends can vary from neighborhood to neighborhood. For those of you who know us well (specifically our builders from Ravenna and Buell), Dale and I love to study market trends, showings vs. contracts, pricing trends, etc. 

Now that Dale and I are spending more and more time in the re-sale market, we spend a great deal of time studying market reports in various neighborhoods around Denver. And, once again, we find ourselves beyond fortunate to be a part of the Sotheby's real estate firm.  On a quarterly and year-end basis, they put together a Colorado Micro-Market Real Estate Report that is a benefit to you - our buyers and sellers!

These quarterly reports help you, as buyers and sellers, make solid decisions when buying and selling your real estate. Real estate, as you know, is our FAVORITE topic! But, real estate is a favorite topic amongst many of you, too. It’s where you make your home, create memories and is one of the biggest investments you will make in your life. So, enjoy reading the report below that is beneficial specifically to you. And please, feel free to call us with any questions! Dale: 303-919-7176 and April: 303-250-7974

Year End 2011

Colorado Micro Market Reports

Boulder Micro Report – Q4 2011

Denver Metro Micro Report – Q4 2011

Castle Rock Micro Report – Q4 2011

Vail Valley Micro Report – Q4 2011

Evergreen Micro Report – Q4 2011

Golden Micro Report – Q4 2011

As we near the end of the 1st quarter of 2012, be watching for the updated micro-market report review. We assure you that we will keep you posted on your local real estate market!

Best wishes,

April

Stuffed Pepper Soup

Ingredients

2 lbs. Ground Beef

2 Quarts water

1 can (28 oz) tomato sauce

1 can (28 oz) diced tomatoes, untrained

2 cups cooked long grain rice

2 cups chopped green pepper

¼ cup packed brown sugar

2 teaspoons salt

2 teaspoons beef bouillon granules

1 teaspoon pepper

Directions

In a Dutch oven, cook beef over medium heat until no longer pink; drain.  Stir in the remaining ingredients; bring to a boil. Reduce heat; cover and simmer for 30-40 minutes or until peppers are tender. (I added one chopped onion, and 1 Tbsp. Italian herbs)

Nutrition Facts:

Makes 10 Servings (2.5 quarts)

1 cup equals 1 serving

248 calories, 8g fat, (4g saturated fat) 45 mg cholesterol, 1158 mg sodium, 24 g carbohydrate, 3g fiber, 19g protein

White Chicken Chili - Monday's Soup

Courtesy of our own Maureen Clark, here our soup recipe for this Monday! We hope everyone has a great week!

White Chicken Chili

For the cooked chicken, poach 3 or 4 skinned and boned chicken breast halves in boiling water or chicken broth, covered, for about 12 minutes or until no pink remains. Drain, cool the chicken slightly, then chop.

Prep: 25 minutes, cook 8-10 hours (low) or 4-5 hours (high)

Ingredients

3 15-ounce cans Great Northern, pinto, or cannellni (white kidney) beans, rinces and drained

2 ½ cups chopped cooked chicken

1 ½ cups chopped red, green and/or yellow sweet peppers (2 medium)

1 cup chopped onion (1 large

2 fresh jalepeno chili peppers, seeded and chopped

2 teaspoons ground cumin

2 cloves garlic, minced

½ teaspoon salt

½ teasppon dried oregano, crushed

3 ½ cups chicken broth

Shredded Monerey Jack cheese (optional)

Broken tortilla chips (optional)

Directions

In a 4 quart slow cooker, combine drained beans, chicken, sweet peppers, onion, jalepeno peppers, cumin, garlic, salt and oregano. Pour broth over mixture in cooker. Cover and cook on low heat setting for 8-10 hours or on high setting for 4-5 hours. If desired, top each serving with cheese and tortilla chips.

Nutritional Facts

Makes 6 servings.

422 cal., 6 g fat (2 g sat. fat), 52 mg chol. 709 mg sodium, 54 g. carb, 13 g fiber, 38 g. protein

BUYERS - Please remember the insurance deadline in your purchase contract!

The Colorado Real Estate contract is probably one of the most detailed contracts in the United States. The dates and deadlines are very specific. Dale and I live by these dates and find them to be quite helpful! 

In a recent sales meeting, the topic of Property Insurance Deadline was brought up. This is a deadline that, often times is ignored until the last minute of a transaction. This is a very important deadline that can have serious waterfall consequences when not handled properly. Anne Heinz with Englewood Mortgage offered an insightful story that caused Dale and I to think this is a topic that merits a blog - Sotheby's also blogged about Property Insurance in one of their recent blog post. 

In the Colorado Real Estate contract, the Property Insurance Deadline is not highlighted as much as it maybe should be. With the hail damage that has occurred in Colorado over the years, we are seeing roofs that have suffered damage and not been replaced. 

The contract specifically reads: “Insurability. Buyer shall have the right to review and object to the availability, terms and conditions of premium for property insurance (Property Insurance). Buyer shall have the Right to Terminate under § 25.1, on or before Property Insurance Objection Deadline (§ 3), based on any unsatisfactory provision of the Property Insurance, in Buyer’s sole subjective discretion.”

Clearly, the buyer has the right to object if the Property Insurance available is unacceptable to Buyer. Additionally, if the property is simply uninsurable (due to a roof needing full replacement), the Buyer will be unable to obtain a loan, given that property insurance is a basic requirement by the lender to fund the loan! Often times this deadline falls just before (or on) the date of the Loan Conditions Deadline and can end being detrimental the successful closing of a transaction. It is our recommendation that the Property Insurance be discussed and dealt with at the time of Inspection, just in case there is an issue with the property's condition that needs to be addressed.

A recent scenario -
The buyer had a roof inspection. Two inspectors said that the roof was acceptable. The buyer had waited to get insurance and the insurance deadline had passed. The chosen insurance company along with 15 other insurance companies declined to insure the home due to the roof.

There was some back and forth between buyer and seller questioning if the buyer get out of the contract as the insurance deadline had passed. Loan conditions had also passed. This created quite a stir that could have been avoided had the buyer looked into obtaining insurance prior to the insurance deadline. The buyer hired an attorney and the attorney said that the buyer could get out of the contract on loan conditions even though the date had passed.

After many hours of work by all parties involved, the transaction did close with a new roof on the property prior to closing. Having insurance lined up in advance would have been a “heads-up” to everyone involved in the transaction that there was a problem and while it may not have been easy, it would have made for an easier situation.

Ann Heinz 
Senior Loan Officer
(303) 263-4003
License #100027008 NMLS#360599 englewoodmortgage.com