Denver Home of the Day – December 23, 2016

999 N Emerson St #7 Denver CO 80218| $595,000| 2,406 Sq Ft | 3 Bedrooms,  3 Bathrooms

Nestled in Cap Hill, this townhouse is part of a small community of 11 townhouses. It offers plenty of privacy with a community area and a gate for entry. Inside the townhouse boasts an open floor plan, plenty of windows which allow for lots of sunlight and two price balconies. A rarity for the neighborhood, this home also has a two-car oversized garage.

Denver Home for Sale.

Listing courtesy of Cherry Creek Properties

Liz works full-time as a Real Estate Agent with Keller Williams Realty Downtown, LLC.

Denver Home of the Day – December 22, 2016

4153 Osage St Denver CO 80211| $732,000| 2,746 Sq Ft | 4 Bedrooms,  4 Bathrooms

What a creative approach to separating the kitchen and the stairway in this modern townhouse. This decorative wall is a great option to maintain the feel of openness, but creates a level of texture in the home. This kitchen is absolutely gorgeous with quartz countertops, slow-close cabinets, Bosch stainless steel appliances and Mocha hardwood floors. The townhouse is located in the up and coming neighborhood of Sunnyside and should be completed this week!

Denver Home for Sale.

Listing courtesy of MB Solutions by Lee

Liz works full-time as a Real Estate Agent with Keller Williams Realty Downtown, LLC.

Denver Home of the Day – December 21, 2016

8326 E Louisiana Ave Denver CO 80247| $559,900| 3,724 Sq Ft | 4 Bedrooms,  4 Bathrooms

This master bedroom is truly a personal retreat with a 5 piece master bath, walk-in closet and gas fireplace. The home is located in a gated community and part of the Cherry Creek School district. Enjoy the finished garden level basement basement with a huge rec room.

Denver Home for Sale.

Listing courtesy of RE Professionals LLC

Liz works full-time as a Real Estate Agent with Keller Williams Realty Downtown, LLC.

Your 401K, IRA and Home Purchase

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For the first few years of my career in finance I worked with clients and their retirement plans. Often homeowners forget about their retirement accounts when purchasing a home. Depending on 401 plan rules, you may the have opportunity to use retirement funds. In this tight real estate market, you may need these funds for a down payment or just a short period of time. Here are four ways to use retirement funds for a home purchase:

  1. Loan. A 401k plan may off the possibility of taking a loan against your account. Plan rules can dictate the amount you may take for a loan, but the IRS guidelines are the less of $50,000 OR 50% of your account balance less any existing loans. A loan allows you to take money out of your 401k. You pay back the loan through your paycheck (principal plus interest). Always check with your 401k to determine loan availability and what the process may be. If you are taking out a loan for a short term, make sure you are able to pay back the loan in full.
  2. Hardship withdrawal. Unlike a loan, this is a withdrawal from the 401k, so you are not paying it back. There are very few reasons to withdraw money from 401k, but you may be able to for the purchase of a primary residence. Since this is a withdrawal, if you are withdrawing pre tax money, this will become a taxable event and you may be subject to a 10% penalty for withdrawing before age 59.5.
  3. 60 Day Rollover Rule. If you have funds in an IRA, you may be able to withdraw those funds. If it is a traditional or rollover IRA that has pre-tax money, it may become a taxable event and may result in a 10% penalty. If you need the funds for short term, you may be able to utilize the 60 day rollover rule, which is that you have 60 days to replace the funds back into the IRA to avoid taxes and penalty.
  4. Roth Contributions. Not all contributions are pre-tax; some can be Roth contributions, which are after tax. Your 401k may allow you to access any Roth contributions that you have made, OR you may have a Roth IRA. The caveat with accessing Roth monies is that the earnings are pre tax, so when you pull Roth money, you have to also pull the earnings. This means that earnings are taxable and may be addressed a 10% penalty.

Retirement funds may be a great option to purchase a home with. Always remember to consult your financial professional and accountant prior to using any of these options.

Denver Home of the Day – December 20, 2016

4504 Perry St Denver CO 80212| $625,000| 2,517 Sq Ft | 4 Bedrooms,  4 Bathrooms

This home has spectacular curb appeal with a large landscaped front yard, stone exterior, recently painted exterior, and a front porch. Located in the Berkeley neighborhood, this townhouse is within walking distance to grocery stores, parks, shops, bars and restaurants. Close access to the highway, mountains and downtown.Denver Home for Sale.

Listing courtesy of eXp Realty

Liz works full-time as a Real Estate Agent with Keller Williams Realty Downtown, LLC.

Denver Home of the Day – December 19, 2016

583 Humboldt St Denver CO 80218| $700,000| 3,456 Sq Ft | 3 Bedrooms,  4 Bathrooms

Gorgeous entryway in this N. Country Club DUPLEX. Yes, you read that right – this open and spacious duplex feels like a detached home. Gorgeous hardwood floors cover the first floor, and there are original details like glass knobs, hexagon tile floors, and vintage tub surroundings, throughout the home. Ample closet space and a large kitchen make this home perfect for modern living.

Denver Home for Sale.

Listing courtesy of Addison & Madison

Liz works full-time as a Real Estate Agent with Keller Williams Realty Downtown, LLC.