Ask Pam

Over the years I've helped my customers, I frequently hear the same questions regarding Relocation and Buying or Selling a home. Here are some of the most commonly asked questions to assist you. Do you have a question not answered here or elsewhere in my website? Please feel free to ask by emailing me your questions!

1) My company is thinking of relocating my family and me to the Denver metro area sometime next year. I need to let them know if I am interested within the next 60 days. How do I decide if it would be a good move for us?

There are many factors that should be considered in making such a life changing decision. Although it is possible to obtain the facts and statistics about the Denver metro area and the housing market through the web or various Chambers of Commerce, it is important that you talk with someone who can help you to compare your present home and lifestyle with those which Colorado has to offer.

A Realtor specializing in relocation is your best source for information. Housing prices, schools, commute times, recreation, health care, available childcare and housing alternatives for elderly parents are among the most common concerns of families. Getting a sense for these issues and comparing them to what is available to you where you currently reside may be as important, if not more important to you than the actual job opportunity that is being presented.

Sometimes the correct answer to the question, "Should we relocate to Colorado?" is no. It is not the best alternative for everyone. However, for many, the right decision is to make Colorado their new home.

I recommend that you immediately contact a Realtor specializing in relocation. The information that he or she provides can be invaluable to you in making this decision.

2) What is the difference between a Realtor specializing in relocation and one who works in one part of town?

The Realtor specializing in relocation will have a broader knowledge of different areas in metro Denver and be better able to help you to compare them. It is possible to find a house that will work for you in many different parts of town. However, there are marked differences in how those neighborhoods and communities will fit your wants and needs.

Your Realtor should not be telling you in which area to live. (This happens many times with Realtors who specialize in one area.) Instead, you should be discussing many different areas which may fit your criteria. Together, you and your Realtor should come up with a plan to explore your many options.

3) Where we live now, Realtors only work in one town. Do we need a Realtor for each area that we would like to explore?

No!! All of the Denver metro area is on one Multiple Listing Service. All Realtors will have the same access to all listings. That means that you should select a Realtor who specializes in Relocation so he or she can assist you in the process of comparing different areas and communities. You do not want one Realtor trying to sell you a home in one area because if you go elsewhere you will be using a different Realtor. You want someone to help you weigh your different options and choose the house that is right for you.

I strongly discourage any buyer from working with more than one Realtor. You should find an experienced relocation Realtor with whom you are comfortable and trust that person to assist you throughout the process.

4) Is it possible to have a Realtor represent our best interests in the purchase of a home?

Yes!! You have the option of working with a Realtor either as a Buyers’ Agent or a Transaction Broker. Although either relationship allows you to obtain the services of a Realtor, there are some very specific differences in the level of service that you can expect.

If you work with your Realtor as a Buyers’ Agent, your Realtor will be representing you and your best interests in the purchase of a home. This relationship allows your Realtor to share with you both market statistics and opinions relating to the value of the property in the current market. Using this information, you and your Realtor can come up with a negotiating strategy to follow in the purchase of your next home. This relationship is established by the execution of an Exclusive Right to Buy Contract between the Buyer and the Realtor.

If you choose to work with a Realtor as a Transactional Broker, the relationship that you have with your Realtor is one in which you direct the Realtor to show you homes and you determine how you would like the contract to be written and negotiated. In this case, the Realtor is not representing either the buyer or the seller and must walk a very fine line in order to follow the guidelines that the Real Estate Commission has set out for this type of relationship. Although there is no written agreement establishing this relationship, it occurs if the Buyer Agency is not established.

I strongly recommend that buyers, especially those relocating into an area in which they are not familiar, work with a Realtor as a Buyers’ Agent. Much of the process of buying a house during relocation involves becoming educated about the different neighborhoods and communities, the housing market and the process of purchasing a home. Working with someone you trust to lead you through this process and look out for your best interests can make a huge difference in how smoothly the process goes and how happy you will be in the house and neighborhood that you choose. This is too important for you not to have all of the information you need in order to make your best decision.

5) We will not be able to come to Colorado to look at houses for a couple of months. Can we start the process before we arrive?

Absolutely!! You should start right away. There is much that can be done prior to your actual arrival in Colorado to help to educate you with the housing market and home buying process. That way you will be able to maximize your time when you are in town.

You should start by talking with a Realtor specializing in relocation. Your first conversation should focus on your current lifestyle and housing as well as possible options within the Denver Metro area. Most people who are relocating from one city to another go through a period of frustration and anxiety. It comes about partly from not knowing what awaits them in the new city. The most difficult period occurs when families are contemplating all of the "what ifs". What if we cannot afford a house in Colorado? What if we can’t find a house that we like? What if the schools are not able to meet our children’s specific educational needs? What if, what if, what if………?

The sooner you talk with a relocation Realtor, the sooner you can start sorting through the information that will be important to you in finding your next home.

6) What information is important to obtain immediately upon looking at the possibility of relocation?

A conversation with your Realtor specializing in relocation should assist you in getting a sense of how your current housing and lifestyle compare to that in the Denver metro area. This should include such considerations as price range, commute time, type of community, lot size, age of homes, types of landscaping, proximity of activities important to you, schools, history of the Denver metro housing market, current market conditions, new housing versus resale housing, style of housing, recreation opportunities and other topics specific to your situation.

You should also get an overview of how the process works. There is a difference if you are interested in a new home or a resale home. In may cases you will need to have your current home at least under contract. You will be in a better negotiating position if you have already contacted a lender and are pre-approved for a loan. Even though this does not necessarily mean that you will be able to negotiate a lower price, it may be the difference between a seller choosing your offer over that of another buyer.

By talking through your questions and concerns, your relocation Realtor will be better able to assist you in obtaining information to address these issues. Together you will be able to come up with a plan for educating you about the market and the process and prepare you for a productive use of time when you arrive in Colorado.

7) How do we determine how much house we can afford?

Prior to the start of your house hunting, you should contact a lender and start the loan application process. This will help in a several of ways. First, you will have some idea of how much home you can afford – both total price and on a monthly basis. You will also find out what closing costs you will incur in addition to your down payment. By going through this process, you will be able to determine a price range in which to concentrate when you start your home search. Second, your loan processing can begin while you are looking for that perfect home. This will allow you to submit with the contract a letter from your lender with a purchase contract to show that you are a ready, willing and able buyer. This can be very important in negotiating your best purchase terms and in some cases where the seller is looking at more than one offer, can make yours more attractive since a lender has already assessed your financial capability. Third, this will help to save time and should you decide to close quickly having this step accomplished will allow you to do so.

Most buyers find that they have two different price ranges. One is their comfort level. The other is what they can actually qualify for. The payment calculator below will help. Your lender will be the real guide in this process. Your Realtor will be able to refer you to a competitive lender who specializes in good customer service.

An impressive list of facts means nothing unless it can be backed up by result-getting performance attested to by satisfied clients and customers. Here's what others say about Pam:

A personal letter to Pam-

July 19, 2001

Dear Pam,

Comer and I are once again reminded of how important it is to have an ethical, honest and knowledgeable Real Estate agent working for YOU.

We hear horror stories regarding buying/selling a home and like all of us we think it won’t happen to us. We are too bright to fall for "the phonies" that pray on the buyers and sellers. How wrong we were. Arizona has not been favorable to us in this regard and we reminisce of the days we dealt with you, Pam Burke.

If we could shout from the rooftops … ONLY DEAL WITH PAM BURKE ... we would. You can trust her explicitly. Pam, your honesty and integrity are equal to none we know, or have ever met, in the business. We have bought/sold nine (9) homes to date and feel we are qualified to state our beliefs without reservation.

If anyone has questions about dealing with you because they don’t know you or are first time buyers/sellers and are scared to pieces, please have them call us. We would be more than happy to quell all their doubts and fears.

Pam, it is an honor to know you and to have done business with you and your spouse.

Sincere best wishes,
Barbara and Comer Cobb

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