The interest rates are bouncing around a bit and are higher than they were last year. Is this stopping you from a purchase? A couple of my buyers recently did a buy-down through the lender, with Seller concessions, and got a lower interest rate, and a lower house payment. One couple was able to go from 1100 square feet to over 3,000 with this process!
Is it time to talk to a lender and see what you could do?
What does this mean for a Seller? You now don't have to worry about selling and wondering where you will live! The market isn't frenzied (yet). Since the first of the year, we are seeing from 700-900 new listings a week come on the market, but 1200 listings going pending. We are not seeing an increase enough to keep up with the current demand. It won't take long, and it COULD again be a frenzied market in Denver.
To get back to what this market means for a seller - you may get multiple offers, if your home is ready to move, good location, and priced at fair market value. This market is still not one for "let's try a bit higher". Your home will sit on the market, and get stale. You may need to provide dollars for the buyer's closing costs and/or buy down. BUT, on the replacement property, you will see the same thing!
This may be the right time to list your home, and start the search for your replacement home before the market gets going full on with the spring buying season!
If you are thinking this might be a good time to sell or buy, give me a call, and let's talk about your options!