Tips for Home Sellers

There are currently 311 blog entries related to this category.

Jefferson Park is an unknown gem of Denver Neighborhoods.  Jefferson Park is an amazing little area just West of I-25, South of Speer Blvd, East of Federal and North of 20th Ave, that has been going through a quiet Renaissance in the last few years.  Walk Denver, an organization that is promoting more walkability in the City of Denver, has worked with Better Block Jefferson Park to build a strong community advocating for this neighborhood’s urban appeal and high walkability.  Better Block Jefferson Park hosts free concerts, pop-up events, and is very active in promoting this community.  

Additionally the Denver City Council recently approved redevelopment plan for 25th Avenue just East of Federal Boulevard to redevelop the long neglected, but very

21,535 Views, 0 Comments.

The latest data from Metrolist®, which powers REcolorado.com, a free resource for Colorado home buyers, sellers and owners, announced today that the month-to-month inventory levels in the Denver metro area increased at the same rate of homes sold, indicating a stable, orderly and strong local housing market.

More than 6,000 homes closed in July, which equated to a 10 percent increase month-over-month, and a significant 32 percent increase from July 2012. The increase in sales velocity signifies a healthy demand for Denver-area homes.

The sales velocity was matched by a 9 percent increase in available listings, but there are still 7 percent fewer homes on the market than there were at this time last year. The increasing inventory levels will continue

1,375 Views, 0 Comments.

 

With interest rates up, and the heat of summer on, the crazy Denver Real Estate market has noticeably slowed down since July 4th. Speaking with fellow agents, it appears that a lot of buyers are holding off on buying until they figure out what rates are going to do and sellers finally got the message that it is a great time to sell so we have more inventory than we have had all year. Combined, this is a big reason why homes having gone from selling in a day to weeks or even months again.

I certainly understand why buyers are cautious about buying now and hoping rates will start to come back down. However, I don’t think we are ever going to see 3.5% again and I would argue that waiting for rates to drop another .125-.25% is the absolute worst

4,122 Views, 0 Comments.

How much of a down payment do I need to by a Denver home? Or, I don't have enough saved for a down payment yet. These are the two most common questions/statements I hear when starting to talk with potential home buyers. I am very surprised to hear that most potential buyers feel they need 20% down to buy a home when in fact, I would say 75% of the buyers I work with end up putting less than 20% down when they finally do buy their home.

The advantage of putting 20% down is that you don't have to pay a for mortgage insurance. Mortgage insurance is a fee that is added on to your monthly payment to help protect the lender until you have 20% equity built up in the property. While in theory this is a best practice, in reality, saving 20% for a home

4,487 Views, 1 Comments.

Is now a good time to invest in Denver Real Estate? I get the question a lot and the answer is YES! The rental market is even crazier than the Real Estate market if you can believe that with right around a 1% vacancy rate for rentals. Rental rates are the highest they have ever been and with these crazy low interest rates, you can cash flow a property in a manner that has never before been possible.

I've been investing in Real Estate for about 6 years now and since I bought my first duplex I've seen the monthly rents go up six hundred dollars a month. I've seen the largest increase in the past 3 years and expect when I rent it again next year I will be able to ask even more and it will rent the first day on the market once again.

To invest in Real

7,393 Views, 2 Comments.

 

Yesterday I wrote about how mortgage interest rates are the highest they have been in the past year and how it looks like they will be hovering around 4% for the foreseeable future. To read the full blog, click here. Now that we have an educated guess as to what rates will do most likely the rest of summer, it only makes sense to look at how this will impact the Denver Real Estate market and what it means to buyers and sellers.


If we look at historical data, we see that whenever rates increase, so does market activity. This occurs because it gets a lot of buyers off the fence who think they have forever to take advantage of the low rates. And it also convinces renters that if they don’t do something quick, their chance to own for less than rent

3,757 Views, 0 Comments.

 

This week, mortgage interest rates hit their highest level in past year and it has a lot of buyers out there pretty concerned. With an average around 4%, the rates are still near all time historical lows but when compared to the mid to low 3’s we saw in September, it is a pretty significant jump. To find out why the rates are higher now and the long term forecast for rates, I turned to the expert, Tracey McVicker with SWBC Mortgage.


According to Tracey, “interest rates have increased dramatically over the past 30 days or so.  Most of this is because the stock market has been performing so well, which is usually to the detriment of the bond market, and thus rates. We looked to be having a bit of a rebound until on Wednesday May 22, after Fed

5,491 Views, 0 Comments.

 

In keeping the Denver’s next hot hoods theme going, this week I want to focus on Wheat Ridge. The hot part of Wheat Ridge is roughly 26th north to 44th and Sheridan west to Wadsworth. More specifically, the areas around 26th bordering Edgewater and just west of Sheridan from about 32nd to 35th around Panorama Park.


When I’m trying to identify which hoods should take off next, I look a lot at architecture and location. Wheat Ridge isn’t going to blow you away with it’s architecture, mostly it will be 50’s ranches with a few two stories thrown in. The location though is definitely what is driving the market in Wheat Ridge.


Wheat Ridge doesn’t boast a lot of colorful town centers like Highlands does, but it is just across Sheridan from almost

122,814 Views, 0 Comments.

Denver recently announced the Metro Morgage Assistance plus program as a way to help more buyers reach the goal of homeownership. This program provides buyers with a 4% grant, that does not have to be repayed, that can be used towards a down payment and or closing costs. 

There are a few guidelines that you need to meet in order to qualify for the grant in addition to qualifying for a regular mortage. These criteria include:

- Must make less than $91,100 for households of two or fewer persons (and less than $103,000 for three or more).

- Must have a minimum FICO score of 640 (660 for manufactured homes) and a maximum debt-to-income ratio of 45.

- Even though a significant portion of your down payment will be supported by this grant, you may

4,134 Views, 1 Comments.

Last week I did a blog post about Denver’s next hot hoods. I got a lot of interest from it so thought I would try to make it a weekly post. This week I’m highlighting an area I’ve been working in like crazy lately, North Park Hill.


North Park Hill is on fire right now and it really surprise me how not many people are talking about it. North Park Hill is roughly Colorado Boulevard east to Quebec and Martin Luther King Boulevard north to I-70. It is easy to understand why it gets overshadowed by true Park Hill with it’s stunning architecture and ever growing price tag. But like Edgewater and Wheat Ridge which are benefiting greatly from the growing price tag of Highlands, North Park Hill is reaping the same rewards too.

Architecturally, North

23,142 Views, 0 Comments.