Your Source For Metro Denver Real Estate News & Market Trends

This week's New Home Community Spotlight brings us to Denver's Stapleton Neighborhood. David Weekley Homes recently hosted a Grand Opening Event highlighting their newest Row Homes project. 

Marching Forward To A Even Market

According to the latest market statistics from REcolorado, the Denver Metro market experienced a 7% decrease in home sales as compared to this time last year, but a month-over-month increase of 27%, signaling the busy buying and selling season is underway. Contracts were put in place on 5,736 homes in March, up 6% from last year and 29% higher than last month.

Sellers brought more new listings of homes for sale to the market in March, giving home shoppers more selection. Throughout the month, 6,248 listings hit the market, an increase of 23% compared to last month. The count of active listings of homes for sale at the end of March was 6,269, 7% higher than the end of last month and 36% higher than last year

Housing Market Trends in Denver

Home prices continue their steady climb up, though with less dramatic year-over-year rises. Average sold prices were up across the board, both month over month and year over year, for both condos/townhomes and detached single-family homes.

Despite fewer home sales compared to this time last year, more home went under contract with a 6% year-over-year increase. On average, homes spent 48 days on the market with a median of only 11 days.

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Homes listed in the first week of April receive 14% more views and sell six days faster compared to the rest of the year, according to Realtor.com. In addition, during this time sellers also see about 6% higher prices, which is around $17,000 and are 1% less likely to see prices drop.

What’s the reason? Buyers are increasingly entering the market in bigger numbers, however the competition hasn’t reached its peak. Meaning each listing receives a higher level of demand.

Great news, the U.S. housing market is already showing signs of heating up. New home sales increased 4.9 percent in February giving it the highest level in 11 months. More great news, the U.S. mortgage rates on Thursday posted their biggest weekly drop in more than a decade!

Please give us a call at 720-935-9406 to schedule a time to meet. We would love opportunity to serve you. 

Inspect To Avoid Regret! 

Purchasing a home can be a very exciting and emotional time. Once your offer is accepted one of the first things to focus on is the home inspection. Spending a few hundred dollars up front can avoid the potential for thousands of dollars down the road. 

Here is a great guide that discusses the importance of a home inspection. 

Before You Buy, Inspect! Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home you want to buy is in good condition. A home inspection is an evaluation of a home's condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will review the readily accessible exposed portions of the structure of the home for potential problems. Key areas of focus include: Roof Attic Walls Ceiling Floors Interior plumbing Electrical Problems Windows Door Basements Foundation Heating/air conditioning systems Home inspections are not intended to point out every small problem or any latent defect in a home. Most minor or cosmetic flaws, for example, should be apparent to the buyer without the aid of a professional. During the Home Inspection While not necessary, it is recommended that the buyer be present for the inspection. This allows the buyer to observe the inspector, ask questions directly, and obtain a better understanding of the condition of the home, how its systems work, and how to maintain it. The written report may be easier to understand if the buyer was present during the inspection. It is important that safe access and sufficient lighting is provided so that the inspector can inspect the property. Spending Hundreds May Save You Thousands When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified inspector. You will have to pay for the inspection yourself, but it could keep you from buying a house that will cost you far more in repairs down the road. If you are satisfied with the results of the inspection, then your offer can proceed.     Scott Beard Owner/Managing Broker Denver Realty Pro LLC Mobile: 720-935-9406 Scott@denverrealtypro.com www.DenverRealtyPro.com

Are you thinking about a reverse mortgage but don't know where to start? 

First of all, what exactly is a Reverse Mortgage? A reverse mortgage, or HECM (Home Equity Conversion Mortgage), is a way to turn the equity in your home into TAX-FREE* cash without having to make any monthly mortgage payments. Instead of monthly payments, the loan is repaid in one lump sum when the last borrower leaves the home. 

As part of the loan, the borrower is required to continue paying property taxes, insurance, HOA and maintain the home. According to the US Department of Housing and Urban Development, more than half a million households across the nation are using a HECM reverse mortgage insured through the Federal Housing Administration (FHA) that enables seniors to gain financial independence from their ever increasing living expenses. 

Tips To Get Your Home Ready For Showings

As the calendar turned to spring, many people are thinking about making a move. While there are many things to consider when preparing to sell, one of the most important things to do is to get your home ready for showings. 

Here are some common things that you can do that will not only help your home sell faster but for more money!

We would love to schedule a time to meet with you see your home and make suggestions to make sure we are putting your home's best foot forward! 

Get Your Home In Shape for Showing Homes that have been well-maintained and convey pride of ownership appeal to perceptive, motivated buyers. Below are some simple steps you can take to ensure your home is in "show shape" when you are ready to sell. Clean or replace carpets and/or other flooring, such as vinyl or hardwoods. Wash the windows and window coverings. Clean the kitchen and baths until they sparkle. Clear and pack away clutter and sell or store excess furniture. Clean your closets--extra storage space helps sell homes. Paint or touch up any rooms that need it. Use neutral colors, which have more universal appeal. Take down family pictures and other personal decorations. The more your house looks like your home, the harder it is for buyers to imagine themselves living there. Clean the basement and garage. Neatly stack and store boxes. Your home's cleanliness and appeal create an unconscious impression. That impression can determine the likelihood of an offer. I'd be happy to stop by and offer you specific suggestions to help you stage your home for sale. This is the time for minor adjustments, not a major remodel. Please call or email me with any questions. Perhaps I can save you some time and money.   Scott Beard Owner/Managing Broker Denver Realty Pro LLC Mobile: 720-935-9406 Scott@denverrealtypro.com www.DenverRealtyPro.com