Oct. 20, 2023

Denver Market Stats for September 2023


The stats are out for the month of September, and the numbers reflect a dip in sales for the month.   The inventory increased from last month, but remained 24% below last year.

 

This data is courtesy of Joan Cox - House to Home, Inc.

 

As I track data for the Denver metro area, and the amount of price reductions have been hovering around 1500-1650 each week and homes returning to market have been around 280 per week.   The inventory this time of year is seasonally low, and is around 7500 during the week, and have seen it as high as 7700.    (includes land up to high-end homes)

 

See what homes are currently available - Active Homes for sale in Denver

 

Buyers - If you have thought about buying a home this year, rates are increasing, and can see some multiple offers on properties.   Rates may be holding you back, but you no longer have to pay thousands over fair market value, there are sellers possibly willing to give you concessions for your closing costs and are not see buyers waiving inspections right now!

Be sure to be pre-approved and know what your budget is!    With increased inventory, you now have a bit more of a selection and don't have to narrow your criteria.    We are also seeing a few homes returning to the market, so it would be a good idea to write a backup offer if you did not "win the bid", as you may get a second chance.

 

Sellers - My sellers are seeing a nice bottom line!    Even though the inventory is increasing a bit, there are buyers out looking for their dream homes.   Patience is key, we are seeing the number of showings slowing and if priced right and shows well, you MAY see multiple offers.     Buyers are looking for homes ready to move in, so fix those items you know are issues before listing!

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

 

Oct. 12, 2023

Fall Home Maintenance Tips for Homeowners

It is that time of year when you own a home, you should do some homeowner maintenance to protect your home from damage this Fall/Winter.    Here is a list of things to think about.

 

  1. Gutters and down spouts: clean the leaves from the gutters and make sure the downspout diverters are carrying the water about 3 - 5 feet away from the foundation.
  2. Foundation: walk around the house and check the slope of the soil. Make sure there are no areas that slope towards the foundation allowing the water to pond next to the house. If you have a crawlspace be sure to check it for moisture.
  3. Check the exterior of the windows and doors to be sure the caulking and weather stripping are in excellent condition.
  4. Roof: if possible walk the roof inspecting flashing and vent pipes to be sure they are in good condition.  (if you cannot, I do have a roofing broker that will inspect for free!)
  5. Bushes and trees: if these are in contact with the house or roof, trim them away.
  6. Chimneys: clean the flue.
  7. Garage doors: inspect hinges to see they are secure to the door, and test the reverse mechanism (both the electronic eye and the pressure reverse) to be sure they are operating correctly.
  8. Ground Fault Circuit Interrupters (GFCI): push the test buttons to be sure the power to the outlet is shutting down.
  9. Smoke and Carbon Monoxide Detectors: push the test buttons to be sure they are working correctly.
  10. Heating system: on forced air systems, be sure to change the filter once a month and if you have a boiler, be sure the pump is oiled. Have the heating systems tuned up by a professional HVAC company.
  11. Kitchen: clean range hood filters, under the refrigerator and its' coils and be sure the fire extinguisher is charged and easy to get to.
  12. If your house has a sump pump, be sure it is operational. 
  13. Disconnect garden hose from outside faucets. If hose faucets are not frost-free type, be sure to turned off water on the inside of the house and the faucets are drained.
  14. If you have a wood burning fireplace/Stove, have it cleaned and inspected. 
  15. Winterize sprinkler system before Halloween.

 

Posted in Homeownership Tips
Oct. 10, 2023

Arapahoe County Home Show - October 13-15, 2023

Whether you’re planning on upgrading your home or need a reliable contractor to fix your leaking roof. The Home Show is the spot to find all local remodeling experts. The Arapahoe County Home Show hosts local and national exhibitors offering exclusive deals and discounts. Save time and money while at the Arapahoe County Home Show.

 

You can meet with local and national vendors

Get New Ideas

Check out the latest trends

Save thousands and increase the value of your home

 

When:  October 13th - 15th, 2023

Friday - 12 pm to 6 pm

Saturday - 10 am to 5 pm

Sunday - 11 am to 4 pm

Where:   Arapahoe County Fairgrounds Event Center, 25690 E. Quincy Ave., Aurora, CO  80016

Cost:  FREE Admission

 

If you have been thinking of a bit of remodeling, this could be the place to be this weekend!  

 

Posted in Homeownership Tips
Oct. 5, 2023

Thinking of Selling Your Home this Fall in Denver?

If you have thought about selling your home this year, you still have time to do so!

 

Typically, the market picks up again after Labor Day, although slower than the Spring market.    This year it is a bit slower than past years with the higher interest rates.    There are still homes going pending in a day or at least a few days.  But the key is to list it correctly!   This time of year isn't the time to "test the market", and list too high.    You could be sitting on your listing until 2024.

 

Key Points -

1.   List at a fair market value for the amenities and upgrades in your home.

2.   Have the home ready to move in, so buyers won't have a reason to give you a lower offer.     Have the roof and furnace checked out so you know if you have issues.

3.   Have your home looking like the BEST HOME on the block.  Having awesome curb appeal will entice buyers to your home, therefore resulting in more showings/offers.     If they see a stunning exterior (either in a drive-by or in MLS), they will keep going to see what else your home has to offer!

4.  Have patience.    Even though some neighborhoods are moving pretty well, others have more inventory than what is selling, and you may be on the market longer than you think.

5.   The market does slow down right before Thanksgiving, and picks back up after the first of the year, but there are usually some serious buyers in December.

 

If you are wondering what your current home value is - click on the link below, and I will be sure to get right back to you with the most current value.

 

If you are thinking of selling this year, give me a call and we can discuss your options.

Posted in Seller Tips
Sept. 13, 2023

Is Your Goal to be Mortgage-Free?

Thirty years sounds like an eternity when you close on a home and see what year your home will finally be paid off.     Do you have a plan to retire early and be mortgage-free?

 

Want to get it paid for quickly?   Even if you don't plan to stay in your home for 30 years, you can pay down the principal balance quickly.

 

One of my preferred lenders has done a few charts showing what kind of savings you would see over the life of the loan by paying just one payment extra per year.

This example will be for a $560,000 loan balance at current rates.

This information would be for a mortgage making NO extra payments.

 

This information would be for a mortgage making one extra payment per year.

 

This would be what you would save over the 30 years -

 

Remember, it MUST be made payable to the principal balance, not as a payment, as you are paying interest and escrow amounts.

Thank you Kim Crea for putting these charts together for me.     If you need mortgage information, please give her a call/text or email.

720-812-5022, Kim.crea@dkmortgage.com

 

 

Posted in Homeownership Tips
Sept. 2, 2023

Random Facts about Denver Colorado

I have lived in the Denver metro area since I was 5 years old, so might as well be a native.    Have seen this "cow town" blossom into quite the metropolis and spread far and wide now.

Here are some intriguing random facts about Denver - 

Mile-High City: Denver is often called the “Mile-High City” due to its elevation of exactly one mile (5,280 feet) above sea level. A brass cap on the steps of the Colorado State Capitol marks this precise point.

State Capitol Elevation: The Colorado State Capitol building, constructed in the late 1800s, was intentionally built one step above the U.S. Capitol in Washington, D.C., symbolizing that Denver holds a higher elevation than the nation’s capital.

Larimer Square: Denver’s historic Larimer Square is home to some of the city’s oldest buildings and was the first designated historic district in the nation.

16th Street Mall: This mile-long pedestrian mall in downtown Denver features a free shuttle bus known as the “MallRide,” making it easier for visitors to explore the shops, restaurants, and attractions along the way.

Mount Evans: Just a short drive from Denver, Mount Evans boasts the highest paved road in North America, allowing visitors to ascend to an elevation of 14,130 feet and experience breathtaking views.

Blue Bear: The “I See What You Mean” sculpture by Lawrence Argent, commonly called the “Big Blue Bear,” peeks curiously into the Colorado Convention Center, symbolizing Denver’s artistic spirit.

DIA’s Tensile Structure: Denver International Airport (DIA) features the largest tensile structure in the world, comprising the white fabric roof of the Jeppesen Terminal.

South Park Creators: Trey Parker and Matt Stone, the creators of the popular animated series “South Park,” grew up in Colorado and attended the University of Colorado in Boulder.

First U.S. City to Decriminalize Magic Mushrooms: In 2019, Denver became the first city in the United States to decriminalize psilocybin mushrooms, recognizing their potential therapeutic benefits.

Flag Day: Denver is one of the few cities in the U.S. that celebrates its “Flag Day” on June 14th, commemorating the adoption of the official city flag in 1926.

Brown Palace Hotel: This iconic hotel has hosted numerous U.S. Presidents and notable figures since it opened its doors in 1892, earning its place as a historic landmark in the heart of downtown Denver.

Sunrise to Sunset: Denver experiences more annual hours of sunshine than San Diego or Miami, boasting around 300 days yearly.

Denver’s allure extends far beyond its picturesque landscapes and popular attractions. These random facts show the city’s history, culture, and unique character. From its high elevation to its thriving beer scene and rich history, Denver continues to surprise and enchant residents and visitors with its hidden gems and intriguing stories. 

 

Let me know if you would like more information about relocating to Denver.  

Aug. 22, 2023

Denver Metro Areas Sales were Slower in July 2023


The stats are out for the month of July, and the numbers reflect a dip in sales for the month.   The inventory increased from last month but still could use more inventory in many neighborhoods!   

 

This data is courtesy of Joan Cox - House to Home, Inc.

 

I track data daily for the Denver metro area, and the amount of price reductions have been hovering around 1400-1550 each week (this number is larger than new listings coming on) and homes returning to market have been around 280 per week.   The inventory this time of year is seasonally low, and is around 6500 during the week, and have seen it as high as 6900.    (includes land up to high-end homes)

 

See what homes are currently available - Active Homes for sale in Denver

 

Buyers - If you have thought about buying a home this year, rates are bouncing around, and can see some multiple offers on properties.   Rates may be holding you back, but you no longer have to pay thousands over fair market value, there are sellers possibly willing to give you concessions for your closing costs and no one is waiving inspections right now!

Be sure to be pre-approved and know what your budget is!    With increased inventory, you now have a bit more of a selection and don't have to narrow your criteria.    We are also seeing a few homes returning to the market, so it would be a good idea to write a backup offer if you did not "win the bid", as you may get a second chance.

 

Sellers - My sellers are seeing a nice bottom line!    Even though the inventory is holding steady, there are buyers out looking for their dream homes.   Patience is key, we are seeing the number of showings increase and if priced right and shows well, you could see multiple offers.     Buyers are looking for homes ready to move in, so fix those items you know are issues before listing!

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

 

Aug. 18, 2023

How to "Lock Your Deed" in Arapahoe County Colorado

You may have seen advertisements for title lock services, or even stories in the news about title theft recently. To protect Arapahoe County residents, the Clerk and Recorders Office offers Property Alert, a free service that will alert you if a new document has been recorded under your name.    This is mostly for those who are mortgage-free.

 

To sign up:

  • Go to www.arapahoegov.com/documentsearch
  • Click on “Register” in the upper right corner to create an account. 
  • Enter your email address, then verify it in the email you receive from “@govos.com.”
  • Once you are logged in on the Clerk and Recorder’s public search website, click on “Property Alert
  • Either click on “Enter a Name” to enter individual names, or click on “Search for a Document” to select multiple names from a recorded document. Individual names must be entered LAST NAME FIRST NAME. (It is recommended you create a profile for all variations of your name, as well as any other names associated with the property. For example: Smith John, Smith John J, Smith John Joe, etc.)
  • If a document matching the name(s) you enter is recorded, you will be notified by email.
    (Please note, if you have a common name you may receive alerts for documents regarding other individuals with the same name.)

 

You can use the document search website to view the document in question. You can also run a search on your name to see what has already been recorded under your name prior to setting up a profile. Please call 303.795.4520 or email recording@arapahoegov.com for further assistance.

Posted in Homeownership Tips
Aug. 15, 2023

Pricing Your Listing is Critical Right Now

This year has been tough for buyers, with the interest rates hovering around 7%.    Every time the rates increase, buyers lose some buying power, so many are sitting tight and waiting until the rates come back down.  

Since there are fewer buyers out right now, we are seeing a huge increase in price reductions!   This morning there were 1411 price reductions, and only 1138 new listings.  More price reductions than new listings, haven't seen that this year!

 

Buyers - this may be the right time to buy and ask for some seller concessions and buy down your rate!    This will enable you to qualify for more of a property!    I can get you connected with a great lender to get this done!

 

Posted in Buyer Tips, Seller Tips
July 21, 2023

Homes in the Denver Metro area Under $500K

Recently there have been articles on the news and in newspapers about the lack of housing under $500,000 in the Denver Metro area.    It is true, finding a single family home for under $500,000 can be a challenge.

 

I have removed those homes listed as multi-family or condos, and this link shows 164 properties around the area.   You may need to be a bit flexible on the location or amenities within a home.

 

Check out this link to view the homes currently active under $500,000.

 

 

Before you start your search, you will want to talk with a lender and get pre-approved, as homes in this price range usually go quickly, and you will need this letter to accompany the offer.