Tips for Home Sellers

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How important is pricing in the current Denver Real Estate Market? The simple answer, extremely important. I speak with lots of sellers, and even lots of agents who think pricing isn't that important because the market is so hot right now. I hear all the time, we are going to push the price and see what we get. And while I understand why that is tempting after hearing all the time about the sales records Denver Real Estate keeps breaking, it could possibly be the worst strategy you could take for selling your Denver home. To back up my argument, I will turn once again to some incredible statistics provided by Megan Aller with Land Title. She put this graph together and it shows just how important price is to getting top dollar for your Denver home.

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What is going to happen to the Denver Real Estate market as we head into fall? I had the privilege of attending a Denver Real Estate market trends class yesterday with Megan Aller from Land Title. Megan is brilliant with Real Estate statistics, and as a result, was able to share some really interesting insights that you won't hear anywhere else and help give us solid data to predict the coming months and years.

Megan's major theme for evaluating any Real Estate market is comparing our market to a balanced market. Based on her mathematical calculations, a balanced market is a market with about six months of inventory. This is neither a strong buyer’s or seller's market. So let's look at some of her calculations to see the type of market we are in.

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Nearly 1,300 new apartments were added to the metro Denver rental inventory during the second quarter, but rents still edged up and vacancy rates declined according to a recent article from the Denver Post about the incredible rental market in Denver, click here. This says a lot for how strong the rental market in Denver is when you add 1,300 apartments and vacancy rates declined while rental rates rose. 

When driving around town, especially Downtown, it is hard to believe there is enough demand to keep up with all the apartments that are being built. This article makes some really interest points though to show that even with everything being built, it won't be enough to keep up with the growing demand for years to come. "The state of Colorado

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It’s still a fast-moving seller’s market in Denver, with numerous properties going under contract as soon as they’re listed. The average days on market for all properties was only 28 days. That’s a 31% decrease from one year ago.

There were 7,791 Active Listings on the market, a 4% increase from May, and down 5% from one year ago. 5,414 went under contract, down 4% from May, and 5,582 homes were sold and closed. That’s a 5% increase from the previous month.

Download a copy of this month's report here, and watch this month's video, featuring Live Urban brokers Susie Best and Patrick Gibson, featuring Denver's Congress Park neighborhood and the Denver Botanic Gardens.

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Investment properties are few and far between in the Denver Metro area, and with available housing inventory so low, homebuyers and developers alike are scrambling to find homes to purchase, whether they are looking to live in them or renovate and sell.  It's almost impossible to find fix-up properties in super popular neighborhoods like West Highlands, LoHi, and even Wheatridge, Edgewater and Arvada.  

Which is actually great news for areas that have been a bit slower to cover from the recession, including South Westminster.  There was a great article in the Denver Post this past weekend that highlighted the progress of the city's recovery and emerging property is an excerpt:

WESTMINSTER —It's been a slow process and is far from done,

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Signaling the start of the summer buying and selling season, the real estate market for the Denver metro and surrounding area saw increased activity in May as buyers scooped up available inventory despite near record prices. Download a copy of this month's report here.

The pace of home sales picked up during the month of May, as the number of sold properties rose 19 percent month over month. In particular, demand for single-family attached homes saw a marked increase, rising 25 percent over last May. 

Inventory in the Denver area continued its upward trend, as active listings increased 15 percent from April, and the number of new listings climbed 11 percent month over month. However, the market is still very competitive, as days on market saw a

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What is a back up offer? And does it make sense in this crazy Denver Real Estate Market? The answer is absolutely, yes! A back up offer is basically a second place offer. If the seller already accepted an offer, or didn't accept your offer but yours is close, then you could have the option for your offer to be a back up offer in case something happens to the offer that was accepted. Essentially, you are the second place offer that would move into the first position if the first place offer doesn't go through. 

With the crazy Real Estate market we are experiencing in Denver right now, most buyers don't consider making a back up offer because they think that if someone is lucky enough to get a house under contract, they aren't going to risk it not

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When I bought my house in Berkeley three years ago, I thought it would be years before we needed more space. 2 kids later, we are busting out and needing more space so we have decided to bite the bullet and add on. In this ongoing blog post, I will try to highlight what it takes to do an addition and offer any tips and good stories along the way that I can. 

Ideally we would have loved to pop the top. Based on our square footage, and location on our lot, it would have been very expensive and we wouldn't have been able to get more than two bedrooms out of it. So after meeting countless times with our extremely patient architect, Mark Fitzwilliam with Fitzwilliam Architects, we found a design that works and offers all that we need and more.

We will

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LIVE Urban agents and their clients have seen everything on the MLS...and they still haven't found THE ONE.

If you, or anyone you know, has been thinking about selling your home that might fit one of these needs, please reach out to a LIVE Urban agent...we have a buyer waiting to buy your house!

Heather Truhan has a client looking for 1+BR condo in Central Denver (I-25 to Colorado, 23rd to Alameda) in healthy HOA... reserved parking and higher floor with great natural light and balcony. Willing to update. City or mountain view and higher floor are more important than finishes and space. Up to 175K. 

Mic Ortega has the following clients desperately seeking a new place to LIVE:

Aaron is looking for a home under $300,000 in Wheat Ridge, Olde Town
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Here's another case study for the "It Sold Before You Could See It Here" files...
Sandi Klatt listed 100 Park Avenue West #405 recently for LIVE Urban Real Estate...but if you blinked, you missed it!

We asked Sandi a few questions:  
LIVE Urban: Why do you think this property sold so quickly?
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