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Starting Smart: How to Set Your Home Search Price Range After Getting Pre-approved

One of the most exciting moments in the home-buying journey is receiving your preapproval letter. It’s a big step forward—and a powerful one—because it gives you a clear picture of what a lender is willing to loan you. Naturally, many buyers head straight to online home search sites and plug in that top number as their budget. While that’s understandable, it’s not always the smartest strategy.

A preapproval is a ceiling, not necessarily a target. Just because a lender approves you for a certain amount doesn’t mean that number aligns perfectly with your comfort level, lifestyle goals, or long-term financial plans. Before diving into listings, it’s worth taking a moment to think strategically about how to set your price range.

Start by looking at your monthly comfort zone, not just the loan amount. Your lender determines what you can qualify for based on income, debt, credit, and general guidelines. You, however, live with the payment. Consider how much you want left over each month for savings, travel, hobbies, emergencies, and everyday life. Many buyers find that staying 5–10% below their maximum preapproval creates breathing room and reduces financial stress.

When searching online, a good rule of thumb is to set your upper search limit about 5–10% below your preapproved amount. This helps ensure that if you fall in love with a home and need to offer slightly above list price in a competitive market, you still have room to maneuver without exceeding what you’re comfortable paying.

On the lower end, it can be helpful to search 10–15% below your ideal target. This widens your pool of options and may reveal homes that need minor cosmetic updates or are priced competitively—properties that could turn into great opportunities. You might also discover neighborhoods or styles you hadn’t originally considered.

Another factor to keep in mind is that the purchase price isn’t the only cost of homeownership. Property taxes, homeowners insurance, HOA fees, utilities, maintenance, and potential repairs all impact your monthly budget. Leaving some wiggle room in your price range helps ensure these additional expenses don’t feel overwhelming.

Flexibility is key. Your ideal price point may shift once you start touring homes and better understand what different price ranges offer. That’s normal. The goal isn’t to lock yourself into one rigid number—it’s to create a smart, realistic window that supports both your financial health and your homeownership goals.

Starting your home search with a thoughtful price range sets the tone for a smoother, more confident buying experience. By treating your preapproval as a guide rather than a finish line, you give yourself options, leverage, and peace of mind—three things every successful home search needs.

If you’re considering a move or investment and require a trusted Real Estate Broker, we’re here to assist you. Contact us via email at TEAM@McDanielCallahan.com, complete the form below, or give us a call at 925-838-4300. We are ready to provide expert guidance and support for all your real estate needs. Terry McDaniel DRE License #00941526

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Selling a Home Contingent on Finding a Replacement Property: What Homeowners Should Know

For many homeowners, selling their current home and buying their next one feels like a high-stakes balancing act. You want to move forward, but you also don’t want to be left without a place to go. One option that can help bridge that gap is selling your home contingent on finding a replacement property.

This type of contingency allows you to accept an offer on your home while giving yourself a specified amount of time to locate and secure your next home. It can provide peace of mind, but it’s important to understand how it works and how it may affect your sale.

How This Contingency Works
When you accept an offer with this contingency, the contract states that the sale will only move forward once you successfully enter into a contract on a replacement property. The buyer agrees to wait during this period, usually for a set number of days. If you don’t find a suitable home within that timeframe, the buyer may have the option to cancel.

Why Sellers Choose This Option
The biggest advantage is security. You avoid the risk of selling too quickly and feeling pressured into buying something that isn’t a good fit. It also allows you to shop with confidence, knowing your current home is already under contract.

Potential Challenges
Not all buyers are comfortable with this type of contingency, especially in competitive markets. Some may worry about delays or uncertainty and choose another home instead. Because of this, your home may appeal to a smaller pool of buyers, and strong pricing and presentation become even more important.

Ways to Strengthen Your Position
Being proactive helps. Start exploring neighborhoods and price ranges before listing. Get pre-approved with a lender so you can move quickly when the right home appears. Work with an experienced real estate professional who can help structure timelines and communicate clearly with all parties involved.

Is It the Right Choice for You?
A replacement-property contingency can be a great tool for sellers who need flexibility, but it’s not a one-size-fits-all solution. Market conditions, your financial situation, and your timeline all play a role.

The key is having a strategy before you list. With the right planning and guidance, you can protect your next move while still positioning your current home for a successful sale.

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Selling Your Home Off-Market: What Homeowners Should Know

When most people think about selling a home, they picture yard signs, open houses, online listings, and a steady stream of showings. While that traditional approach works well for many sellers, it isn’t the only option. In some situations, selling a home off the market can be a smart and strategic choice.

An off-market sale means your home is sold without being publicly listed on the Multiple Listing Service (MLS) or heavily marketed to the general public. Instead, the property is quietly introduced to a smaller pool of qualified buyers through professional networks and private channels.

What Does “Off-Market” Really Mean?

Selling off-market doesn’t mean skipping professional guidance or paperwork. It simply means your home isn’t advertised widely. A real estate professional may share your property with pre-qualified buyers actively searching, other agents with interested clients, or contacts within their professional network. The transaction is still handled professionally, with proper disclosures, contracts, and negotiations.

Why Some Sellers Choose to Sell Off-Market

Privacy is one of the biggest reasons sellers explore this option. Not everyone wants their home and personal situation publicly visible. Off-market sales offer discretion, which can be especially appealing for those who value confidentiality.

Reduced disruption is another benefit. Without open houses and constant showings, daily life can continue with far less interruption.

Targeted exposure also plays a role. Instead of dozens of unqualified showings, your home is presented only to serious, vetted buyers.

In some cases, an off-market sale can also move faster if the right buyer is already in place.

Potential Trade-Offs to Consider

While off-market sales offer advantages, they aren’t ideal for every situation. With less public exposure, you may see fewer competing offers. Less competition can sometimes reduce upward pressure on price, which is why pricing strategy becomes even more important.

When Off-Market Selling Makes Sense

This approach can be a great fit if you value privacy, want to avoid frequent showings, have a flexible timeline, or simply want to test the market quietly before deciding on a full public listing. Some sellers start off-market and move to a traditional listing later if needed.

Why Pricing Still Matters

Even without public marketing, pricing your home correctly is essential. A strong market analysis helps ensure you don’t leave money on the table or price so high that buyers lose interest. Accurate pricing paired with the right strategy creates better results.

The Importance of Professional Representation

Off-market does not mean unrepresented. In many ways, it requires even more skill to identify qualified buyers, structure strong terms, negotiate effectively, and ensure all legal requirements are met. Having an experienced professional guiding the process helps protect your interests every step of the way.

Selling your home off the market can be a powerful option when privacy, simplicity, and targeted exposure matter most. The key is choosing the strategy that fits your goals, timeline, and comfort level. A conversation with a trusted real estate professional can help you determine whether an off-market approach, a traditional listing, or a combination of both is the right path for you.

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Living in Woodland Park, Colorado: A Mountain Town with Big Appeal

If you’re dreaming of mountain views, outdoor adventure, and a close-knit community, Woodland Park, Colorado might be exactly what you’re looking for. Nestled more than 8,400 feet above sea level and known as the “City Above the Clouds,” this scenic town offers a peaceful lifestyle that blends small-town charm with easy access to amenities and recreation. (Homes.com)

A True Mountain Community

Woodland Park is famed for its natural beauty. Residents enjoy breathtaking views of Pikes Peak and the surrounding Rocky Mountains, miles of hiking and biking trails, and outdoor activities year-round. From the 14-mile Centennial Trail winding through town to nearby Rampart Reservoir and Mueller State Park, it’s a haven for anyone who loves being outside. (Homes.com)

The area also offers community spaces like Memorial Park—with tennis courts, playgrounds, and a winter ice skating pond—and local attractions such as the Dinosaur Resource Center, making it family-friendly and engaging for all ages. (Homes.com)

Real Estate and Neighborhood Options

The housing market in Woodland Park features a wide variety of options, ranging from cozy mountain cabins and ranch-style homes to newer single-family houses and townhomes. Some popular subdivisions include Paradise Estates, Westwood Lakes, Sunnywood Manor, and The Reserve at Tamarac, each offering distinct styles and lot sizes. (Thetford Team)

Prices reflect the area’s desirability, with median home values higher than the national average; the mountain setting, views, and quality of life all contribute to strong long-term appeal. (Data USA) Whether you’re looking for a primary residence, vacation property, or retirement home, Woodland Park’s diverse inventory has options for many lifestyles.

Schools and Community Life

Families considering the area will appreciate the Woodland Park School District RE-2, which offers a range of academic and extracurricular programs with smaller class sizes—a strong factor for many homebuyers. (Homes.com)

The town also regularly hosts community events, from farmers markets and summer festivals to seasonal celebrations that bring neighbors together and contribute to a welcoming, small-town feel. (Homes.com)

Convenience and Accessibility

Woodland Park has a real hometown feel, with locally owned shops, cozy restaurants, and essential services easily accessible. At the same time, it’s just about a 25- to 30-minute drive from Colorado Springs, giving residents convenient access to bigger-city amenities, healthcare, and employment opportunities without sacrificing quiet mountain living. (Homes.com)

Lifestyle Considerations

Life in Woodland Park isn’t for everyone, and that’s okay. Some buyers are drawn to the slower pace and natural surroundings, while others may miss the buzz of a larger city. The mountain climate means snowy winters and seasonal weather conditions that require preparation, and the community can feel quieter compared to urban centers. But for many residents, that’s exactly the appeal—clean air, stunning landscapes, and genuine community connection. (Homes.com)

Is Woodland Park Right for You?

If you value outdoor adventure, scenic beauty, and a community-oriented lifestyle, Woodland Park has a lot to offer. Its real estate market reflects a mix of tradition and growth, and buyers moving from out of state often find the balance between mountain living and modern convenience refreshing.

As you explore homes in the area, a local real estate professional can help you understand specific neighborhoods, market trends, and what to expect from mountain-area properties—making your move as smooth as the views are stunning.

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Disclosure of Prior Reports and Repairs: What Buyers and Sellers Should Know

One of the most important—and sometimes misunderstood—parts of a real estate transaction is disclosure. At its core, the rule is simple: sellers and their agents have a duty to disclose material facts that affect the value or desirability of a property when those facts are not known to the buyer or easily discovered through normal observation.

In practice, however, disclosure is not always as straightforward as it sounds.

What Is a “Material Fact”?

A material fact is any information that could influence a buyer’s decision to purchase a property or the price they are willing to pay. This often includes prior inspection reports, known defects, past repairs, or recurring issues such as water intrusion, foundation concerns, or roof problems.

If a buyer would reasonably want to know about an issue before making an offer, it likely qualifies as material.

What Buyers Are Expected to Discover

Buyers are expected to exercise “diligent attention and observation” when evaluating a property. This means noticing visible issues during showings and inspections—such as obvious wear, visible cracks, or aging systems.

However, buyers are not expected to uncover hidden defects, past problems that have been repaired, or conditions that are not readily observable without specialized knowledge or access to records.

The Seller and Agent’s Responsibility

Sellers and agents cannot assume that silence is acceptable just because an issue has been repaired or is no longer active. Prior reports and repairs often must be disclosed, especially if they relate to structural integrity, safety, or ongoing maintenance concerns.

Transparency helps prevent misunderstandings, disputes, and potential legal issues after closing.

Why Disclosure Protects Everyone

Proper disclosure builds trust and reduces risk for all parties involved. Buyers can make informed decisions, plan for future maintenance, and feel confident in their purchase. Sellers reduce the likelihood of future claims or accusations of misrepresentation.

While it can feel uncomfortable to disclose past issues, failing to do so can lead to far greater consequences down the road.

When in Doubt, Disclose

Because the definition of “material” can vary depending on the situation, a good rule of thumb is simple: when in doubt, disclose. Consulting with a knowledgeable real estate professional or legal advisor can help clarify what should be shared.

Disclosure is not about pointing out every minor imperfection—it’s about honesty and transparency. Prior reports and repairs that affect a property’s value or desirability should be disclosed when buyers wouldn’t reasonably discover them on their own.

Clear communication protects buyers, sellers, and agents alike—and helps ensure smoother, more successful transactions.

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Property Evaluation: Looking Beyond the Staging

When touring a home, it’s easy to be swayed by fresh paint, stylish furniture, and thoughtful staging. While décor can help you envision living in a space, it’s important to remember that appearances don’t tell the whole story. A smart property evaluation goes far beyond what you see at first glance.

Look Past the Surface

Cosmetic updates can be changed relatively easily. Structural issues cannot. As you walk through a property, take note of what’s behind the walls and under the floors. A beautiful living room won’t matter much if the foundation has problems or the systems need major repairs.

Inspect the Key Areas

Attics and basements often reveal important clues about a home’s condition. In the attic, look for signs of proper insulation, ventilation, moisture, or roof leaks. Basements and crawl spaces can expose foundation concerns, water intrusion, or structural movement that may not be obvious elsewhere in the house.

Plumbing and electrical systems deserve close attention as well. Check for outdated wiring, overloaded panels, slow drains, water pressure issues, or signs of past leaks. These systems are expensive to repair and play a major role in both safety and livability.

Evaluate the Foundation

The foundation is quite literally what the home is built on. Look for visible cracks, uneven floors, doors that don’t close properly, or signs of past repairs. While not every crack is a deal-breaker, understanding what you’re seeing—and having it evaluated when necessary—can save you from costly surprises later.

Don’t Forget the Neighborhood

A home’s value isn’t just about the structure; it’s also about its surroundings. Visit the neighborhood at different times of day and on different days of the week. Morning traffic, evening noise levels, parking availability, and general activity can vary dramatically depending on timing.

Pay attention to nearby amenities, ongoing construction, and overall upkeep in the area. These factors can impact both your day-to-day experience and long-term resale value.

A well-staged home can be appealing, but smart buyers know to look deeper. By evaluating the structure, systems, and surroundings—not just the décor—you make a more informed decision and reduce the risk of unexpected issues after closing.

Working with an experienced real estate professional and qualified inspectors can help ensure you’re seeing the full picture before you commit. In real estate, what you don’t see can matter just as much as what you do.

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Unlocking the Benefits: Tax Savings for Homeowners

Owning a home is a dream for many, but it comes with its fair share of expenses. From mortgage payments to property taxes, the costs can add up quickly. However, there’s good news for homeowners: there are several tax benefits available that can help offset some of these expenses and put money back in your pocket. The various tax deductions, programs, and allowances that homeowners can take advantage of to maximize their savings:

Deductible House-Related Expenses

One of the most significant tax benefits for homeowners comes from deductible house-related expenses. These include:

State and Local Real Estate Taxes: Homeowners can deduct state and local real estate taxes paid, up to a limit of $10,000.
Home Mortgage Interest: The interest paid on a home mortgage is deductible within certain limits. This can include interest on a mortgage used to purchase, build, or improve a home.

To claim these deductions, taxpayers must itemize their deductions on their tax return.

Non-Deductible Expenses

While some expenses related to homeownership are deductible, others are not. These non-deductible expenses include:

Home insurance premiums
Mortgage principal reduction
Wages paid to domestic help
Depreciation on the home
Utility costs (gas, electricity, water)
Most settlement or closing costs
Forfeited deposits, down payments, or earnest money
Internet or Wi-Fi service charges
Homeowners’ association fees or condominium fees
General home repairs

Understanding which expenses are deductible and which are not can help homeowners make informed financial decisions.

Mortgage Interest Credit

For lower-income homeowners, the Mortgage Interest Credit can provide valuable assistance. This credit helps offset the cost of home mortgage interest payments for those who qualify. To be eligible, homeowners must have been issued a qualified Mortgage Credit Certificate from their state or local government.

Ministers and Military Housing Allowance

Ministers and members of the uniformed services who receive a nontaxable housing allowance can still benefit from tax savings. They are allowed to deduct real estate taxes and home mortgage interest without reducing their deductions based on the allowance.

Navigating the complex world of tax deductions and credits can be daunting, but for homeowners, it can lead to significant savings. By taking advantage of available tax benefits, homeowners can reduce their tax burden and keep more money in their pockets. However, it’s essential to understand the eligibility criteria and rules associated with each benefit to ensure compliance with tax laws.

For more detailed information on tax benefits for homeowners, taxpayers can refer to IRS Publications 530 and 936. With proper planning and understanding, homeowners can unlock the full potential of these tax savings and make homeownership more affordable and rewarding.

https://www.irs.gov/forms-pubs/about-publication-530

https://www.irs.gov/forms-pubs/about-publication-936

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Using Zillow Saves to Gauge Interest Before Writing an Offer

When preparing to write an offer on a home, price is only part of the equation. Understanding how much interest a property is generating can help you decide whether to act quickly, negotiate, or wait. One useful data point many buyers overlook is the number of “saves” a listing has on Zillow.

When someone saves a home on Zillow, it usually means they’re paying attention. They may be comparing it to other options, watching for price changes, or considering a showing. While not every save turns into an offer, it does indicate buyer curiosity and potential demand.

Saves are most helpful when viewed in context. A home that has been on the market only a few days but already has strong save activity may be attracting attention and could move quickly. On the other hand, a property that has been listed for several weeks with little change in saves may signal hesitation from buyers or an asking price that doesn’t align with the market. Price point also matters—higher-priced homes naturally receive fewer saves, so comparisons should be made with similar listings rather than across the entire market.

Experienced realtors often use saves as part of a broader strategy. When combined with comparable sales, showing activity, and seller motivation, saves can help guide offer decisions. Strong save activity may suggest competition, while limited interest can create room for negotiation or better terms. A noticeable increase in saves after a price reduction can also signal renewed buyer interest.

It’s important to remember what saves don’t represent. They aren’t offers, and they don’t guarantee action. Some buyers save homes casually, and online interest doesn’t always translate into in-person activity. That’s why saves should be used as a supporting indicator rather than a deciding factor.

The bottom line is that Zillow saves can provide a useful snapshot of buyer interest when you know how to interpret them. Used alongside market data and professional guidance, they can help buyers make more informed, confident decisions when writing an offer.

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When to Walk Away (Without Burning Bridges)

Buying a home is as much about strategy as it is about emotion. Sometimes, the hardest—but smartest—decision is knowing when to walk away.

Imagine this scenario:

The house is listed at $1.4 million.
Based on comparable sales and your realtor’s advice, you offer $1.2 million—though maybe you could have gone as low as $1.175 million.
The sellers counter with $1.375 million.

At this point, it’s tempting to stretch your budget to meet them halfway. But the numbers—and your strategy—matter.

Step 1: Stick to Your Analysis

Your offer wasn’t random; it was grounded in data: recent comps, market trends, and your budget. If the counter doesn’t make sense, it’s okay to step back. Walking away doesn’t mean failure—it means you value your investment and your strategy.

Step 2: Keep Emotions in Check

It’s easy to get swept up in excitement—or fear—when you love a house. But emotional buying can lead to regret. Staying calm and rational allows you to negotiate from strength, not desperation.

Step 3: Leave the Door Open

Even if you walk away, don’t burn bridges. A simple, professional response like:

“We appreciate your counter. We’ll need to step back for now, but if your circumstances change, we’d be happy to revisit.”

…keeps the conversation alive. Sellers might reduce their price if the property sits longer, giving you another chance without starting over.

Step 4: Know When to Move On

Sometimes, the home simply isn’t the right fit—financially, strategically, or personally. That’s okay. The right home—and the right deal—will come along.

Negotiation is a balance of data, intuition, and patience. Walking away doesn’t close doors—it keeps opportunities open for the future. Stay professional, stay grounded, and stay ready. Because in real estate, timing—and relationships—matter just as much as numbers.

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Why Your Agent Should Always Check for Other Offers—Even on Homes That Have Been on the Market a While

When buying a home, it’s easy to assume that if a property has been sitting on the market for a long time, there must be little to no competition. While that can be true, it’s not always the case—and assuming otherwise can lead to costly surprises. One of the most important steps your real estate agent should take before you write an offer is checking whether there are any offers in hand or if another one may be coming in.

In real estate, timing changes everything. A home that’s been quiet for weeks—or even months—can suddenly attract attention. Maybe a price reduction just happened. Maybe a buyer who toured earlier came back for a second look. Maybe interest rates shifted, or a new buyer entered the market. Momentum can build quickly, even when it seems unlikely.

That’s why communication between agents matters. A good buyer’s agent will always call the listing agent to ask a few key questions: Are there any offers in hand? Has there been recent activity? Is anyone expected to submit an offer soon? These conversations don’t guarantee answers, but they provide valuable insight that can shape your strategy.

Knowing whether there’s competition can impact how you approach your offer. If another offer may be coming in, you might decide to act sooner, tighten timelines, or present stronger terms. On the other hand, if there’s truly no activity, you may have room to negotiate more confidently. Either way, having information allows you to make informed decisions instead of guesses.

It’s also important to remember that not all buyer interest is visible online. Some buyers wait, hesitate, or move quietly. Others are out of town, finalizing financing, or coordinating contingencies. A property’s days on market don’t always tell the full story.

The bottom line is simple: you never really know what’s happening behind the scenes unless your agent asks. A quick phone call can prevent disappointment, help you avoid losing a home you love, or save you from overpaying unnecessarily.

In real estate, information is power. Even when a home has been on the market for a long time, always make sure your agent checks for offers in hand—or offers on the way. It’s a small step that can make a big difference in protecting your interests and strengthening your position as a buyer.

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