A little spring cleaning goes a long way when preparing your home to go on the market, or simply preparing it for spring & summer festivities. As the busy real estate season springs into high gear, homes need to be freshened up in order to stand out among the rest. Please download this great guide to kick-start your spring cleaning & home organization. If you want to list your home for sale, this will get you in gear! Don’t forget to call me for a preliminary walk through…I can help you with staging and de-cluttering advice to help you get your home in top-notch selling condition.
Although we are officially in a Seller’s market now, it’s NOT time to get lazy! I know it can be tempting to get lackadaisical when the law of supply and demand are in your favor, but you MUST RESIST THE TEMPTATION! You will get much more money for your home if you follow my advice. And that’s our goal – to get you the most money possible out of the sale of one of your biggest investments. Your home. My Sellers know I know how to get them the most money for their home, and you should too!
Download your FREE copy of the Spring Into the Dream Guide: Rachel Betz Homes.com Spring from Rachel Betz Real Estate & Homes.com
Denver metro Real Estate Market RIGHT NOW – CONDOS – Colorado News Statistics FACTS for Buyers & Sellers Summer 2012 Rachel Betz
The Denver Real Estate word of the season is…CONDO. If the real estate market in Denver is HOT, then the condo market is on FIRE! The spring buying frenzy has continued throughout the summer season, and there are still not enough homes and condos on the market to meet Buyer demand. Inventory is at the lowest it has been in years, and prices are up. The condo market is the absolute fastest moving market in the metro Denver area. Do you remember that “condo” was a dirty word only 2 short years ago? The market has definitely shifted, and condos are being snapped up faster than they can hit the market!
The Top 5 Reasons why condos are the investment to buy RIGHT NOW:
1. Retiring Empty-Nesters. There is not a more appealing lifestyle choice for empty-nesters, than the decision to downsize, simplify, and become FREE. After their kids leave the nest, they embrace their new lives, and know that simplifying is the true key to freedom. Why spend your days working on your home and a yard that is never quite done? Want to jet-set to Paris? Hike the Rockies? Road trip to Napa? A lock & leave condo is a MUST!
2. Second Home Owners. Seeking a tax haven? Seeking a vacation home? Seeking an income property? Condos can fulfill all of these needs for those buying second homes. Second homes can be snapped up with 20% down…and with interest rates floating around 4%, you would be crazy not to consider buying. Passive income IS the answer. Why ride the stock market up and down on an hourly basis? A second home (condo) can be the perfect mix of rental property and vacation home…you make money every month it’s rented. You can write off expenses. You don’t need to worry about cardiac arrest if things are erupting in Europe. A condo is a less stressful investment – period.
3. Luxury Home Owners Downsizing. I have brokered numerous luxury condo deals over the past year to Buyers wanting to find an incredible home, with less square footage. Today’s luxury Buyers are looking for QUALITY, not necessarily QUANTITY. They want a refined, luxurious space that they don’t have to worry about maintaining. They want high quality finishes, and the same lock & leave lifestyle as Retiring Empty-Nesters.
4. 1st Time Buyers. When young Buyers switch from being a renter to being a homeowner, they often feel stressed upon discovering how much maintenance a single family home requires. They are often surprised to find themselves mowing the lawn & pulling weeds on weekends, instead of actually enjoying life. The solution? A condo – especially for urban dwellers. Young Buyers can discover home ownership without being tied down to property maintenance. Why not let someone else deal with all of that work? Colorado was made to play!
5. Investors. If ever there was a time to snatch up condo deals, it is now! Many investors are snatching up condos for under $100,000, anticipating their values will jump at least 20% over the next few years. “Why,” you ask? Because they have been underpriced since 2008. If you can purchase a property for $100,000-$150,000, rent it out for between $800-1,500 a month, then sell it for a 20% gain in a few years, you should consider it. Investors are snatching up undervalued condos like crazy!
6. Young, Kidless Singles & Couples. You’re young. You’re fun. You’re local. You work. You play. You are Kidless. The Denver Condo lifestyle, in an urban setting supports everything you could want in this world. And it’s EASY. The house will come…with the kids. Just not quite yet! =)
HAVE MORE QUESTIONS? WANT TO TALK REAL ESTATE? CALL ME! Rachel Betz Real Estate 303-534-5000
Many of you hear about the horrible state of the real estate market on a daily basis. I am here to hopefully brighten your day with THE TRUTH about the state of the Denver real estate market. Below details, in very basic terms, what you need to consider if you are thinking of buying or selling a home in the near future. The current real estate market is exciting, and what you hear on the national news about real estate as a whole DOES NOT apply to our local market in Denver, Colorado.
FACT 1: The Denver Real Estate Market is stronger right now than it has been anytime since the crash. AND it’s getting stronger.
FACT 2: We are now officially in a Seller’s Market. What does that mean? There are now fewer homes and condos on the market than there are Buyers who want to buy. How many fewer? A staggering number! Compared to just one year ago, we have almost 42% fewer active listings on the market. We have as many if not more Buyers who want to buy right now, and THERE ARE NOT ENOUGH HOMES & CONDOS TO PURCHASE. Listing times are 15% shorter than this time last year! There are 40% more homes under contract than this time last year! It is time to SELL. It is time to BUY. IT IS TIME. (see MLS statistics courtesy of Metrolist below)
FACT 3: I personally have not written an offer for one of my Buyers in the past 5 weeks that didn’t have multiple offers submitted already. From my discussions with other Realtors, this is very consistent with their experiences right now.
FACT 4: Of the many offers I wrote on behalf of my Buyers over the past several weeks, most were full price offers, and some were even above asking price. Some of my Buyers did not get the house – even some who offered above asking price. Someone else did – a Buyer who offered far ABOVE asking price.
FACT 5: Throughout history, real estate has followed the traditional model of supply and demand. When there are not enough homes on the market to meet the demand, prices generally increase.
FACT 6: Interest rates have never been lower in most of our buying lifetimes. Many of my Buyers are buying homes at a 3.75% interest rate for a 30 year fixed mortgage. How is this possible? If rates creep up 1%, 2% or even 3% (still historically very low), you cannot afford as nice or as much of a house as you can right now. For the same exact home, your mortgage payment could increase by hundreds of dollars a month, even thousands (depending on your pricepoint).
My thoughts…all of these current market attributes have created the Perfect Storm. SELLERS: Have you thought about putting your home on the market recently? You should sell. There has not been a better time for you to sell your home in the past 4 years than right now. BUYERS: Are you thinking of buying? You should buy. If you wait another year to buy a home, prices will be higher than they are now. And if rates follow prices, you will be able to buy MUCH less house for your money.
Call me anytime to talk shop! I can help you every step of the way in pursuit of achieving your real estate dreams! Rachel Betz Real Estate 303-534-5000