Tips for Home Sellers

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As 2016 has drawn to a close, the report identifies highs and lows in the housing market last year and how it compared to previous years.

“2016 will go down as another robust market defined by record-low inventories and record-high prices,” states Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent.

“First, housing inventory has been an issue as evidenced by historically low numbers for the past three years,” he said. In February, DMAR recorded 3,963 active listings at month end, representing the lowest number of any month since housing data started being tracked in 1985. December 2016 finished with 4,265 active listings, which was 68.9 percent less than the historical December average of 13,702, and beat the

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denver housing market 2017

What will 2017 bring to Denver's housing market?

We asked Megan Aller, our local housing stats expert and Land Title rep, to pull the numbers together for us yet again. You may not be able to go back in time and buy a couple of years ago when Average Home Prices in the Denver Metro area were much lower...but you CAN crunch the digits and decide if it might make sense to make a move in '17, before either interest rates or prices go up even more (or both)!

Last year, Megan had this to say.

The numbers are no less shocking this time around...and we've also got a new President moving into the White House that is sure to cause some impact as well.

Denver's demand doesn't look to decrease anytime soon, and it's just a guess as to what will

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5 Reasons to Sell Your Denver Area Home NOW

1. Don't wait for the weather to warm up to sell...beat the competition by listing now instead!

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

The #1 Reason to Sell Now… Not Next Spring | Keeping Current Matters

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense, especially since we are expecting these same inventory patterns to

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What will Denver's housing market look like in 2017?

It's a question we get all the time - as Denver's local Real Estate experts, we not only do as much research and forecasting as we can, we are also in the field and on the streets, all day every day. Talking to both homeowners and homebuyers as well as investors and developers, looking at inventory, and doing our best to help Live Urban clients navigate the Denver area's complex housing environment.

Here are a few predictions from Live Urban agents looking into 2017 and beyond:

Ash Sabados predicts: Interest rates will put a ceiling on home values. 30 year fixed will be heading to 5 percent. Market will become more balanced in 2017. 

Sara Wilhelm said: I have seen a lot of condos

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As 2016 comes to a close, the report spotlights how the hot real estate market fared this year, experiencing both record highs and lows.

In July, Denver-metro hit an all-time high for the average sold price of a home at $420,178 and median sold price at $365,000. February marked a record low for month-end inventory at 3,963; comparatively, the all-time high was in July 2006 at 31,989 listings.

“As we spend time with friends and family enjoying all the turkey and trimmings, we also give thanks to another hot summer selling season,” said Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “In reflecting on the good and not so good of our summer housing market, the question on the mind of many REALTORS® today

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Hurry, hurry, hurry this cozy duplex won't last long!

The large living space is the perfect start to your new home.

The eat in kitchen has new granite countertops, marble backsplash and cabinets, with plenty of room to entertain. Laundry in unit is a major plus, combined with a large closet for storage, you can't beat it! Bathroom has original, extra large clawfoot bathtub, to add to the character this house already offers.

Baby room has great potential for office, mudroom, or more storage. Private backyard is great for pets, combined with low maintenance ease, and large storage unit in basement. This home is the full package. Don't miss out on the additional storage in the basement. Apartments across the street are being converted to condos,

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23 Questions to Ask New Home Builders

Live Urban Real Estate agents have been busy this year helping clients buy and sell homes all over the Metro Denver area, and they are finding that increasingly, due to the prolonged extremely low inventory situation, that more buyers are considering New Construction for their next home purchase.

We asked Live Urban agents to share the most important questions they think Buyers should ask New Home Builders, here is what they had to say:

1. What are the current taxes and what are they currently based on? Do you anticipate an increase, if so by how much?

2. What is the current HOA fee and what does it cover? Do you anticipate any special assessments in the near future?

3. What type of warranty do you

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Denver Metro Housing Report for November 2016

Year-over-year average price of homes sold is up 9.96 percent to $398,588. However, the number of homes sold in October dropped 11.43 percent compared to last year, and the pace of new listings coming onto the market is slow with 9.87 percent fewer homes year over year. Notably, 2016 represents a new record low in listings for October with 6,731, compared to the previous low record in 2014 with 6,748 listings. From 1985 to 2015, average active listings for October is 16,615. For comparison, the record high October was 2006 with 29,722 listings.

 

“With election season coming to an end, an important question we face is how it will affect the metro Denver housing market.” said Steve Danyliw,

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People often ask us where we think the market is headed.

Of course, without a magic crystal ball, it's impossible to tell the future, but indicators like this might mean that the Denver Metro area, which is very popular with homebuyers, will see a very strong housing market continue into Spring.

Young buyers could return to the housing market in droves this spring, according to a report due to be released Wednesday.

First-time home buyers now make up 52% of prospective buyers looking to purchase in 2017, up from 33% a year earlier, according to an analysis of web searches performed by Realtor.com, a real-estate listing website.

Buyers typically begin searching several months in advance, so the jump in activity could translate to increased

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It's really important to Price it Right.

Live Urban Real Estate Agent Kelly Kozlowski recently had the opportunity to turn lemons into lemonade by taking an overpriced listing, correcting the pricing, rolling out an innovative marketing plan, and negotiating to sell the home for OVER LIST PRICE in just a few days.

Thanks for letting us tell your story, Kelly, you ROCK!

If you want to know more about Live Urban Real Estate's strategies for selling YOUR Denver-area home, start here.

 

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