Friday, December 20, 2013

The Myth of the Winter Slump

Here is a piece of conventional wisdom about real estate: It is slow in the winter. The holidays are busy. People are preoccupied with other things. No one is thinking about real estate.
Not so fast.
The stats tell a different story. If we look at the winter months of late December thru late March, it is not uncommon for 20% of the yearly sales to occur during this season versus the spring, summer and fall periods.
The supposed winter lull in real estate activity turns out to be more myth than reality. The truth is that each season of the year offers both opportunities and challenges. There is no perfect time to buy or sell and there is no time that is horrible either.
All of this is good news if you need to sell or buy a home in the next three months. You can be successful at wrapping up a winter real estate deal.
Let’s think about the situation for buyers first. While there are a lot of closings that happen during the winter selling season, it is true that there are fewer properties on the market during this time frame. It makes finding the place you want a little more problematic.
What can be different and favorable for buyers is that winter sellers tend to be serious and motivated. We don’t have a lot of discretionary sellers during the winter. Some sellers who have been overpriced make price adjustments and get very serious about consummating a sale. All things being equal, you can negotiate more aggressively.
The situation for sellers is not all that dissimilar. There are fewer buyers floating around but also fewer sellers with whom you must compete. In addition, the buyers that are active at this time of year are often people with deadlines. Something is driving them to take time during a busy season of the year to get out there and find a home. It is a good time of year for sellers to reevaluate just a bit and make a small price adjustment that will attract the attention of the serious buyers.
Myths die hard. The winter IS as good a time for doing real estate as any other time of year.

Wednesday, December 11, 2013

FHA lowering loan limits in Denver

Starting January 1, 2014, FHA are lowering the loan limits for single family homes in the Denver Metro area. The new loan limit is $391,000. This new loan limit applies to all loan pulled after 01/01/2014. If you are on the threshold of this, this will be a good time to get that house and locked into a loan !!!

Monday, December 9, 2013

Relocating to Denver ??

Considering relocating to Denver? Check out the video for more information

Monday, October 14, 2013

Fixer up properties in Denver

There are still some Fixer up properties to be had in Denver.

This is an example of great property located in the RiNo district in Denver.  Comps that were fixed up in the area were selling for $70k more that the sold price.

check out more here

Is selling to your 'friend' a good thing to do?

Coming Soon
Many homes are getting sold prior to officially going on the market these days. 

It can happen for a variety of reasons.Some are outright sinister and unethical. Most are innocent.
As a general rule, you are always likely to get the very highest net price by fully exposing your home to the broadest possible market rather than having it viewed by only a selected buyer that you happen to know.

However, there can be very legitimate reasons why you'd want me to pre-promote your property and show it to some limited number of buyers prior to it officially hitting the market.

For more info on this and to read a sample scenario of this, CLICK HERE

Sunday, October 13, 2013

Is now a good time to buy a home in light of the Government Shut down ??

I have been asked a lot recently about whether now is a good time to buy a home, especially in light of the Government Shut down.  Will rates go up?  Will my loan close??

Regarding rates, they have actually dropped.  A continuation of a shut down would cause a significant panic in the market and likely cause investors to run to ‘security’.  Mortgage Backed Securities (MBS's) have traditionally been a great source for security as they’re private bonds.  If Uncle Sam is out of commission, MBS’s could be an even better safe haven for investors.  The current, historically low rates are a function of the uncertainty and fear in the market place.  More fear is likely to produce lower rates, not higher. 

It isn’t possible to provide a guarantee of a rate until you are under contract.  HOWEVER, there is still much good news to consider along these lines.  Rates have been historically low; one of the lowest in 70 years.   Rates are still very low (mid to low 4’s right now) so the difference in payment on the same loan.  

This is a good reason to consider moving sooner rather than later..  Economists are projecting rates in the mid to high 5’s within 12 months. While that will mean strong recovery and better than average appreciation in home value, it will also make homes a bit less affordable.  


Tuesday, October 8, 2013

Why you should buy a home before 2014

2013 has seen a much welcomed relief in the Real Estate Market.  The year started off with quite a boom, as inventory reduced, causing pent up demand with Buyers scrambling to find properties.  It was quite common to see properties hitting the market and them having multiple offers and under contract the same day.  According to National Association of Realtors data, July 2013 experienced a phenomenal 17.2% year-over-year increase in the annual pace of home sales compared to July of 2012. Accordingly, the United States is on pace for the best year in residential home sales since the housing boom occurred in 2006.
If the recession hadn’t hit in 2008, the yellow line shows how the market should have progressed.  The prices in 2013 are still below where they should be, but as the economy continues to progress, houses prices are recovering.  There has been a significant rise from 2011 to 2013 and forecasters are predicting this will continue upwards.
Here is a chart showing how mortgage rates changed since 1972. Once a 16.6% rate .. yikes! Mortgage rates have continued to fall and 2012 saw soon amazing rates. The rates today are
CONV 30 YEAR FIXED - 4.25%/ 4.42% APR
CONV 15 YEAR FIXED - 3.25% / 3.58% APR
FHA 30 YEAR FIXED - 3.75%/ 4.02% APR
FHA 15 YEAR FIXED - 3.25% / 3.59% APR
We did see them go up, and drop a little, but they are forecasting this to rise in 2014.
(Conventional loans are based on $300,000 purchase price with 20% down with a 740 credit score and 43% debt-to-income ratio.
FHA loans are based on $300,000 purchase price with 3.5% down with a 740 credit score and 43% debt-to-income ratio.
Jumbo loans are based on $600,000 purchase price with 20% down with a 740 credit score and 43% debt-to-income ratio.)
Only time will tell how long housing prices and interest rates will remain so attractive.
Sources : The Real Estate Word, Brian Icenhower, National Assoication of Realtors, Freddie Mac, Colorado Home Realty
- See more at:

Friday, September 6, 2013

Should you sell your home to a neighbor/friend thinking you are saving money?

Many homes are getting sold prior to officially going on the market these days. It can happen for a variety of reasons. Some are outright sinister and unethical. Even when done innocently and naively, it is a strategy that often causes you to put less money in your pocket than you otherwise would.
Here is a scenario that happened recently. Names have been changed for privacy.
John and Jane Smith called Shirley, an agent/realtor in my office. They wanted to sell their house. Jane had an associate at work (Peter) who was interested in buying the house. John and Jane wanted to know if Shirley could just “do the paperwork” to sell the house to Peter.
Shirley explained that they might be short changing themselves because Peter might not be the best buyer. True, there would be much less commission expense if Peter purchased the property without Shirley listing it. However, other and more motivated buyers might actually give John and Jane a higher net price.
John and Jane saw the wisdom of Shirley’s advice to list the house and have the friend from work see it the first day it came on the market. If Peter bought it, the fee due to Shirley would be fairly modest but Shirley would earn a full commission if another buyer purchased the home.
Peter saw the house on Saturday and made an offer on Sunday. Another buyer working with an agent also made an offer on Sunday.
The offer from this other buyer was much higher and provided John and Jane with more money in their pocket even after paying higher commissions! Additionally, this alternative buyer did not have a house to sell, while Peter needed to get his house sold before he could complete the transaction.
We know this is counter intuitive. However, as a general rule, you are always likely to get the very highest net price by fully exposing your home to the broadest possible market rather than having it viewed by only a selected buyer that you happen to know.
Short Circuited Promotion Short Circuited Promotion
There can be very legitimate reasons why you’d want me to pre-promote your property and show it to some limited number of buyers prior to it officially hitting the market. However, for the most part, this is likely to be a technique we avoid except in special circumstances.
- See more at:

Friday, August 2, 2013

Highlands Ranch Market Activity

Highlands Ranch Activity in the last week

This Week
The median list price in HIGHLANDS RANCH, CO this week is $462,500.

Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.

Compliments of Homestead Title

Sunday, July 28, 2013

Buying a Fixer Property

We have seen in the last 12 months a reduction in the number of properties for sale in Denver.  We have also seen a decrease in the number of Bank Owned and/or Distressed properties too. However there are still many properties out there which would appeal to you if you want to fix up a property.  If you are planning to live in the property, you have to careful about how you finance these type of properties.  The regular FHA program is probably out, you can do an FHA 203K where the loan includes money to do the repairs.  Conventional is an option where you have separate funds to do the repairs.  You should speak to a Lender to find out the best options for you
We have no idea what is in the 'shadow inventory' but it is good to be on the alert of new properties coming on the market.
If you would like to receive alerts of these types of properties, CLICK HERE
If you would like to see some examples, CLICK HERE

Wednesday, July 17, 2013

Looking for a Property with Mountain Views ??

One of the fabulous aspects to living in the front range in Colorado, is our amazing expanse of the Rocky mountains.  In fact it is quite impossible to get lost, you just look for the mountains and figure if you are heading north, south, east or west.

So it figures that 'views of the mountains' are a popular request when buyers are looking for a home.  

If you are in wanting a home with mountain views, or even city views, Click here to take a look at what is available

Monday, July 8, 2013

Denver Real Estate Stats for June

June - 2013 Real Estate Market Stats

Residential Sales
Entire MLS (All Areas)

Residential Highlights:
  • 11.4% increase in the number of closed sales year-over-year
  • 19% increase in the number of closed sales year to date
  • 39.4% decrease in average days on market (43 days in June)
  • 16.7% decrease in # of active listings
  • 22.3% increase in # of new listings (6018 new listings in June)
  • 7.7% increase in average price - sold ($349,339 in June)
Condo Highlights:
  • 22.8% increase in number of closed sales year-over-year
  • 23.5% increase in number of closed sales year to date
  • 41.9% decrease in average days on market (43 days in June)
  • 12% decrease in #  of active listings
  • 36.3% increase in # of new listings (1527 new listings in June)
  • 9.1% increase in average price – sold ($198,040 in June)

information courtesy of Land Title
Based on Information from Metrolist, Inc. for the period Jan 2010 through present.Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. 
does not guarantee nor is in any way responsible for its accuracy. Data maintained by metrolist, Inc. may not reflect all real estate activity in the market.

Monday, June 17, 2013

Over Pricing Your home - will I make more ??

One of the first things I was told when I started working as a real estate agent is that I had a solemn moral and ethical obligation to scare the #@%*^ (daylights) out of sellers about the dangers of over pricing their homes.
Grizzled veterans explained that over pricing a home leads to many bad things: fewer showings, longer time on the market and ultimately getting less than full market value for the property. 
It is conventional wisdom in the industry that over priced homes eventually sell for less than full market value.
PricingMythSellers are often shown this chart from data published from the National Association of Realtors to confirm this fact. Some sellers priced right and sold in less than 30 days for about 2% under asking price. Other sellers priced too high, sat on the market more than 90 days and were punished by having to take 10% less than asking price.
Well … not so fast. Here is another chart. This is research done on a suburban area including parts of Littleton, Englewood and Centennial in the metro Denver area. It covered almost 500 two-story homes with 2000 to 2800 square feet that sold over a six-month period in 2011.
PricingTruthPretty startling! Regardless of days on market, these homes were selling between $341,000 and $345,000. The houses that took more than 90 days to sell got 10% less than their inflated asking price but still ended up selling for the fair market value in the low $340s.
So the real estate industry is just flat wrong about over pricing. All things being equal, over pricing is not going to hurt you financially as a seller.
On the other hand, over pricing does not help either! On average, the people that started with higher asking prices did not accomplish anything by doing so. They eventually had to come down to the market price range to get their places sold.  Plus you have the longer inconvenience of showing your home, making sure your pants are in place everyday!
Rethinking the conventional wisdom in real estate is one of our passions at Colorado Home Realty. We ask continually if the old rules of thumb are really true. By doing so, we are discovering that some traditional approaches are wrong and we are innovating new approaches that make your transaction faster, safer, more enjoyable … and more profitable
(c) Colorado Home Realty
compliments Mike Cooke

Sunday, April 28, 2013

Fabulous Town Home for Sale in Lone Tree

Wednesday, April 24, 2013

Are you buying a home or a pair of jeans ??

You shop around for a pair of jeans to fit. You might be lucky and strike gold in the first shop you go in, it may take you a few fits to find the dream pair. So what has this go to do with buying a house? Well how do you shop for an agent to help you?
You probably spend more time looking for a pair of trousers than you do finding someone help you with the the biggest purchase or sale of your life. Here are a few thoughts …

* 'Try a few pairs on'
I don’t mean waste a lot of people’s time, but speak to a few until you find someone you have a good rapport with. The next few weeks are going to be fun, stressful, challenging but with (hopeful) huge rewards. You want to work with someone who will make it a ‘comfortable fit’      
* Make sure you are getting quality
Just like applicant for a job, ask why you should ‘employ’ them. Ask to see their testimonies
* Are they following the latest trends
Pick a style that suits you? The ‘old school’ style might be perfect, or you might want a trendier approach. Remember, one fit isn’t always better over the other, as long as they fit you right
* Are they practical for your lifestyle?
Make sure ‘the fit’ understands your lifestyle.
The chances are we will all own a few pairs of jeans in our lives. Make sure you like (love) them and they have the durability to last the process. And always recommend the brand to your friends and family … they want to be stylist too.
Jeans will probably always be around, and you may try many fits, but you want the brand that will always be there for you.
(c) copyright

Julie Reddington Realtor ® ABR®
MOBILE PHONE 720 226 4168

Tuesday, April 16, 2013

The Do's and Don'ts to House Hunting

  1. Do Expect to ‘Kiss a few Frogs’
This whole process is a bit like dating. You will ‘kiss a few frogs’, have your heart broken on a deal that goes south, and then just when you think there are no more ‘fish in the sea’, Mr/Mrs Right House will be just around the corner

  1. Pick your favorite SHORT list
It is recommended when you go out and look at houses, stick to around 6.  After this number, they will all start blending into one!  It can also be quite exhausting.  If you have a lot of house you want to look at, schedule for another day when you will be refreshed. The average buyer will look at around 12 houses before deciding.

  1. Do Take lots of notes, pictures, video tours on your phone
This will help you remember the properties – trust me, you might not forget the neon paint, but you might forget the payout, where the washing machine was etc.

  1. Do Listen to your Gut
I truly believe that a house can pick you as much as you pick a house.  Your instinct can be powerful

  1. Do Allow Enough Time
Don’t buy in haste, repent at leisure.   Make sure you allow lots of time on your house hunt, and arrange a second viewing on any potentials. Follow the rule of thumb – your first visit with  your heart, the second is with your head.

  1. Don’t have a Extra Large Coffee before you start your tour
It is not always the polite thing to us everyone’s facilities. Plus, some vacant homes may have the water turned off.  You don’t want to be caught short.

  1. Do wear practical shoes
Some homeowners may request that you remove your shoes, and especially in when the weather is inclement. Wear shoes that are easy to take on and off, not lots of laces, and wear your best socks.

  1. Do Find a babysitter for the children
Especially until you narrow down the possible house. Children find the whole process VERY exciting. So rather than worry about if they have knocked over the Seller’s best china, find care for them, and bring them in when you have a short list.

  1. Don’t be a Wall Flower
Do be very vocal. As your Realtor, I have many gifts, the power of reading exactly what the mind is thinking is not one of them.  This is not my house I am showing, so you will not offend me.  And it will truly help me understand what you are wanting in your Dream Home.

  1. Do be Prepared to Compromise
Just like dating, you might be looking for your ‘Dream Partner’, but not everyone or everything is perfect.  Create a ‘Wish List’ and if you are buying as a couple, compare your lists so that you are on the same page.  Also discuss your big ‘no-no’s’.  And be prepared, you probably won’t find everything on your list so be prepared to compromise on this.

(c) Julie Reddington Real Estate

Thursday, April 11, 2013

What are the mortgage interest rates today??

Still a great time to Buy !!!

CONV 30 YEAR FIXED - 3.5% / 3.616% APR

CONV 15 YEAR FIXED - 2.875% / 3.081% APR
FHA/VA 30 YEAR FIXED - 3.250% / 3.431% APR

FHA/VA 15 YEAR FIXED - 2.750% / 3.075% APR

JUMBO 30 YEAR FIXED - 3.875% / 3.975% APR   
CONV 30 YEAR FIXED - 3.5% / 3.616% APR

Conventional loans are based on $300,000 purchase price with 20% down with a 740 credit score and 43% debt-to-income ratio. 
FHA/VA loans are based on $300,000 purchase price with 3.5% down with a 740 credit score and 43% debt-to-income ratio.
Jumbo loans are based on $600,000 purchase price with 20% down with a 740 credit score an

Courtesy of Colorado Home Realty

Kindest Regards
Julie Reddington | ABR®, REALTOR ®,  Broker Associate | Colorado Home Realty |
(Cell) 720-226-4168 | (Fax) 720.981.4788
Go to or CLICK HERE to see what people say

Sunday, April 7, 2013

Proactive Approach Overcomes Potential Appraisal Hurdles

The world of appraising has changed dramatically over the last few years. It has called for new tactics to deal with this aspect of a real estate transaction so that it does not become an obstacle to a successful closing.
When the real estate market took a nose dive, lenders in general and appraisers in particular were blamed for much of the problem. Most of this blame was misplaced (a subject for another time) but the result has been new rules on how appraisers and lenders interact. Lenders have to give appraisal assignments to a pool of appraisers in a random, red-robin fashion and the quality of appraising and responsiveness of appraisers has suffered as a result.

In Denver, we have another complicating factor. Prices have risen over the last year by about 10% on average. Appraisers, having been recently blamed for being too generous with their estimates of values for properties, are understandably reluctant to reflect this trend too quickly.
The combination has created situations where it is hard to get some houses to appraise for prices that buyers are more than willing to pay and which the market seems to support. New tactics are needed.
It is much more important now for appraisers to receive marketing information on a property. The flyers and other marketing materials we use when finding a buyer for a home have many details about the improvements and benefits that a property offers. Getting this in the appraisers hands helps to make sure that he/she has a complete picture of the property.
It also helps to give the appraiser a summary of how the market reacted to a particular property. This is especially helpful when there are a lot of showings in a short period of time and multiple offers on the home – a situation that has not been uncommon over the last year.
Finally, in some situations, it even makes sense for agents to meet the appraiser at the property. Handing them the information described above and answering any questions the appraiser may have can help to get the appraiser to see the true value of the property.
Something is always changing in the real estate realm that presents a new challenge. Appraising is just one example of one of the latest. Proactively responding to the new situations is one way to stay ahead of the game to ensuring success for clients.
(c) Colorado Home Realty

Saturday, April 6, 2013

Luxury homes in West Ranch, West Ken Caryl


Should I keep this to myself ?? OK, I will share a little undiscovered area which has 'blown my socks off'. This Gated Sub-division is called West Ranch which is on the west side of Ken Caryl and is not in the typical part of Ken Caryl as you would expect. It is literally 2 minutes to the US 285 from the north entrance (but you don't hear or see it) and 10 mins to the C470.
As you drive through this area, you will think you have entered a State Park. There are over 500 acres of dedicated open space. A quiet road tucks round wooded forests with some amazing views of the Denver Metro spreading as far as the eye can see. Yet there are over 50 homes tucked behind these trees.
Each home is situated on many acres of land keeping each home very private. They are STUNNING! The houses are zoned for horses - some have stables and barns already.
If you are in the market for a home in this price range, I highly encourage you view these homes.
The bad news is you cannot just drive through. The good news is you can give me a call and I will show you these stunning homes.


Wednesday, April 3, 2013

Selling your Denver home … It doesn’t get any better than this

Considering selling your home in Denver ??

I'm a very visual person.  I think the chart below gives as clear a picture of what I have been droning on about for the last year, and in typical in the last few months ... WE NEED HOUSES TO SELL !!  Are you one of the ones considering??  If so, click here

According to Metrolist® , the average sales price from March 2012 to March 2013 has risen by 19% from $248,065 to $295,330. 

Do you like looking at facts and figures? Check this chart out

But don't let that put off Buyers our there.  I certainly do not want to hear
"I am waiting for the market to bottom out"
" I am waiting for 50 cent on the dollar"
 ..  my response will be "too late!".  However, while the mortgage rate has increased slightly, it continues to stay historically low. If the rate rises by a point, the amount you pay over the course of the loan will far exceed any % increase on home values rising we are seeing in today's market.

If there is a property you like, want, ACT!  I can advise you price - remember it has to appraise, but I do have a few tricks up my sleeve to get ahead of the pack, and ways to get the contract accepted.  Interested??  Contact me here

source ReColorado and Metrolist®