Monday, February 27, 2012

Earnest Money

Most everybody has to cut a check for Earnest Money when they put a home or property under contract.

So what is it? Where does it go? How much? And how can I get it back?!

Watch and learn.



Call me as you need. I'm always here for you.

Enjoy the day,
Mike Moger
Wright Kingdom Real Estate
303.541.1920 office
303.859.4467 mobile
mmoger@wkre.com
www.MikeMoger.com

Friday, February 24, 2012

Wow. It just can't be. A 3.8% federal excise sales tax when I sell my home?

It's true, but take a look at this. You'll find out that the impact is just not what you might expect.



Call my anytime. I'm always here for you.

Enjoy the day,
Mike Moger
Wright Kingdom Real Estate
303.541.1920 office
303.859.4467 mobile
mmoger@wkre.com
www.MikeMoger.com

Monday, February 13, 2012

What's an Escrow?

Someone asked me the other day what an escrow was. I was surprised, but shouldn't have been.

Every industry has a lingo that people on the outside don't understand, and people on the inside don't recognize that people on the outside don't understand. Sorry about that. We should be more professional, so that you actually know what's going on.

Following is a great explanation of exactly what an escrow is.



Call me when you need. I'm always here for you.

Enjoy the day,
Mike Moger
Wright Kingdom Real Estate
303.541.1920 office
303.859.4467 mobile
mmoger@wkre.com
www.MikeMoger.com

Friday, February 10, 2012

Jim Bryan, my first boss in the real estate industry, showed me a valuable lesson when I first started out selling homes.

Watch the video.



Call me when you need. I'm always here for you.

Enjoy the day,
Mike Moger
Wright Kingdom Real Estate
303.541.1920 office
303.859.4467 mobile
mmoger@wkre.com
www.MikeMoger.com

Planning for Your Child's College Education

I write for two reasons. The first is personal to me; the second may be personal to you.

Firstly, I became a grandfather for the first time just more than three years ago when Emily and my son, Abram, birthed their first child. Jane Alexandra Moger. What a beautiful little baby. Everyone is still healthy and happy, including me.

All of you grandparents know what I feel. Pride, love, gratitude, a sense of purpose as you climb a little higher in the family tree. Photos and words don’t make it; know simply that at this wonderful time, I’m in a very good space.

You think about things at times like this. You wonder how she’ll grow up, what interests she’ll have or pass by. Will she be happy and healthy, will she be the social butterfly or the quietly-take-it-all-in-from-afar little lady? Will she enjoy athletics, the arts or academics, and will she do well in them? Might she be the President of the United States one day? Will she even go to college?

Which brings me to my next point. I remembered this week while thinking about Jane something that I heard from a wise source many years ago, Larry Kendall from up in Fort Collins. As a real estate broker, he encouraged his clients to buy a home or condo for every child in the family before he or she reached the age of five. Ideally, the rents collected would pay the cost of owning the property, but even if not, the little money added to the yearly holding cost was money set aside for that little person’s future education. When the child reached the age of seventeen or eighteen, the property was sold, and the proceeds would be used for college.

Think about it. If you bought a property for $200,000, and the property paid for itself with the rents, you would own a $200,000 asset. A fifteen year loan would be paid off about the time your child was ready for college. Even if the market was flat over the entire holding time, your child could get a nice education for that.

If the property increased in value just 2% per year on average, you’d sell after fifteen years for almost $270,000. After paying closing costs, your son, daughter or grandchild could probably learn a lot with $250,000.

Call me to set a time to talk about this. Boulder real estate has held its own, even in what the wild media has been calling a horrible market for sellers. This is a good move on your part, whether you’re the parent or grandparent.

Know, though, that when you call, you’ll have to listen to me talk a bit about Jane. Grandparents do that, as they have earned the right over the years.

Enjoy the day,

Mike Moger

Wright Kingdom Real Estate

303.541.1920 office

303.859.4467 mobile

mmoger@wkre.com

www.MikeMoger.com

Thursday, February 9, 2012

The Piano

Sometimes bad things happen on the way to the closing table. Not often, but they happen. And when they do .......

Watch the video and hear the story.



Call me when you need. I'm always here for you.

Enjoy the day,
Mike Moger
Wright Kingdom Real Estate
303.541.1920 office
303.859.4467 mobile
mmoger@wkre.com
www.MikeMoger.com