The National Association of REALTORS® just released their annual Profile of Home Buyers and Sellers. It shows how the pandemic is affecting real estate throughout the country. The report breaks down trends before the pandemic began and since March, when COVID-19 started to have an impact on our lives. WHERE is the activity? […]
Trends in Metro Denver Home Prices How Long It Takes to Sell a Home Prices Per Square Foot Showings Until Pending Active Listings New Listings Closings 18% fewer properties came on the market this week compared to last week, while pending sales were down 9%. Every home and neighborhood is different and statistics vary by […]
Clients ask us all the time which projects are worth doing before they sell a home and which won’t pay off. We usually say that if you’ll live in the house for a while and an upgrade will make your life easier or more enjoyable, go for it. But if you’re about to sell a […]
Last month was the most difficult month ever to buy a home in Metro Denver. Low interest rates and a desire for more space propelled buyers into the market. Record low inventory, stricter lending standards and high home prices made the market extremely competitive. It was difficult for many buyers to get the homes they […]
There’s been a lot of talk about urban real estate lately and whether people are moving out of city centers around the country to flock to the suburbs. For some people, this is definitely true. Some homebuyers believe the “work at home” trend is here to stay and they want the type of space only […]
Every home in America just got a flood-risk score. Your home – and any home you may purchase – has an easy-to-access “Flood Factor” score that “is an indicator of its comprehensive flood risk” and shows a property’s “likelihood of flooding and the potential depth of that flood.” FEMA flood maps can be unreliable predictors of future flooding and […]
There are more buyers than homes available and buyers are competing to purchase homes. Multiple-offer situations can be frustrating. Being prepared, having a strategy and being patient and open to change can help. Every buyer should be pre-approved for a loan. Pre-approval is conditional approval for a loan and requires that you complete a mortgage […]
From July 2019 to July 2020 the number of active listings – all homes for sale in the metro area, including townhomes, condos and single-family homes – decreased 41.5%. That lack of inventory was a major factor in rising home prices. 20.3% more homes sold this July compared to July 2019 while the median price […]
There still aren’t enough homes for sale in Metro Denver to satisfy buyer demand. Statistics for July indicate scarcity of choice was one reason detached homes sold at a record average price last month – $601,863. This is nearly ten percent higher than a year ago (9.92% to be precise) and up 7.68% compared to June. […]
Last week, we mentioned that some analysts believe home prices will decrease in the metro area by next May. Even if prices do decrease, it may make sense to buy a home now rather than wait. The biggest reason for this is interest rates. Interest rates for 30-year mortgages hit record lows last week, going below […]
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