Denver Real Estate stats

The metro Denver real estate market continues to show rising homes prices due to increased demand coupled with a low inventory of homes on the market.
 The latest stats show that 12% more single family homes sold over the last twelve months compared to the same 12-month period a year ago. At the end of February, there were only 5500 single family resale homes on the market -- barely a two month supply of homes since more than 2700 single family homes went under contract in February. As a result of these factors, price appreciation has been over 9% over the last 12 months. The 12-month moving average sale price for single family homes stood at $333,983.
 The stats in the condo and townhouse marketare a virtual carbon copy. Demand is up by more than 22% while the number of properties on the market is up just slightly from a year ago. Price appreciation in this category has been close to 11% over the last 12 months. The average price for a condo/townhouse stood at $201,869 at the end of February based on the 12-month moving average.

Attached Single Family Homes

Detached Single Family Homes.

We like to use the 12-month moving average figure for looking at price trends. It is not a number you see reported much in other places. Without getting all Bill Nye, the Science Guy nerdy about this, just know that the 12-month moving average takes 12 months of sales data and averages them together to produce a number that takes out seasonal fluctuations. As a result, a chart of 12-month moving average sale prices gives you a true price trend. Check out the linked charts CHART 1 or CHART 2 to see metro Denver real estate price trends.
Every real estate market is local. There are literally hundreds of sub-markets within the Denver "metroplex" based on exact location, type of property and price range.

The market in your particular area may be doing better or worse. I've got stats like the linked tables and charts above for every single zip code in metro Denver. I'd love to send you the data for your part of town. Just give me a call.

- See more at: http://juliereddingtonrealestate.com/real-estate-stats-in-denver/#sthash.zI56C03D.dpuf

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Cute Ranch in Englewood

Great Starter Home!!

 

Situated in Englewood close to trails. shops, restaurants, transportation to Light Rail

 

3 car garage!!

 

Partially finished basement

 

For more info, CLICK HERE

 

 

 

Your Top 10 Guide to Buying a Home

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

2. 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.

3. 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.

4. 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

5. 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.

6. Don't have a Extra Large Coffee before you start your tour

It is not always the polite thing to us everyones facilities. Plus, some vacant homes may have the water turned off. You don't want to be caught short.

7. 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.

8. 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 Sellers best china, find care for them, and bring them in when you have a short list.

9. 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.

10.   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

Benefits of Using me When Buying a New “Build”

What can I do for you when buying a new home purchase?                                

1. I get Paid by the Builder: The builder will pay the fee due to an agent with no increase to the purchase price of the property.
2. Negotiation Expertise: Builders, like every seller, may be negotiable on the sales price. I can help you determine when a reduced sales price might be achieved with a builder in given situations.
3. Contract Review: Unlike Colorado Real Estate Commission approved contract forms that heavily favor the buyers of resale homes, new home contracts are drafted by a builder’s attorney and are extremely biased towards protection of the builder. I can help you understand these differences and suggest legal review as needed. I provide a 17-point checklist to every new home buyer that identifies key differences where builder contracts may put you at a disadvantage. You’ll be more informed about the risks/rewards of a new home purchase and, in some cases, proactive steps can then be taken to minimize contractual disadvantages.
4. Inspection Guidance: Many new home buyers do not consider having an inspection on a new home. However, almost every new home probably has some construction details that are not to code or that were not done properly. This is true even though city/county building inspectors have conducted numerous on-site inspections. I can help you decide on the need for your own inspector to accompany you on your pre-closing walk-through to make sure you end up with a complete punch list of items for the builder to correct.  
5. Selection of Options and Upgrades: You may not need a particular option but it might be best to include it to avoid resale disadvantages. For example, you may not need a 3-car garage but you’d probably want to include one if 70% of the homes in the area have this feature. Otherwise, you may run into problems when you sell the property years later. The same applies to upgrades to flooring, countertops, plumbing, lighting and so forth. Some of these items can have broad appeal to a wide range of buyers if selected thoughtfully.
6. At The Closing Table: You’d think that closings are pretty standardized. However, papers that are missed or filled out incorrectly at closings constantly amaze us. A colleague attended a new home closing recently and discovered that the wrong kind of deed was being used to convey the property to the buyer. The builder had been using the same deed form for over 12 years and key required language was missing! A good agent can review the closing documents and make sure that you get what is required by contract

Credit:Mike Cooke, Colorado Home Realty (c)
RELOCATE TO DENVER, INTERNATIONAL RELOCATION TO DENVER

Is selling to 'your friend' a good thing?

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

Kindest Regards
Julie Reddington | ABR®, REALTOR ®,  Broker Associate | Colorado Home Realty |

(Mobile)    720-226-4168 |

Website    JulieReddingtonRealEstate.com 

Facebook   www.facebook.com/JulieReddingtonRealEstate  

Twitter     https://twitter.com/denver_realty

For Sale By Owner ??

The article, "5 Reasons You Shouldn't For Sale by Owner,"

makes some interesting points about the disadvantages that arise when an owner sells a house without the help of an agent. However, a couple comments are in order.

Like most articles we see on this topic, the author cites studies that show that houses sold directly by an owner typically sell for substantially less money -- exactly 20% less in this case. The study that allegedly shows this is not referenced.

  

While it is true that For-Sale-by-Owner (FSBO) houses sell for less money than those with an agent involved, the differential is not nearly that large. Our own in-house studies show that For Sales By Owner properties in metro Denver typically sell for prices that are 4% to 6% less than the sale prices of houses sold where an agent is involved.

  

This differential is substantial and significant. Most agents charge sellers a fee in that range. Bottom-line: It turns out that most owners that sell without an agent end up doing all the work themselves, but don't put any more money in their pocket for their effort.  They are out their time and don't have any more money to show for it.

  

One of the reasons that By Owner properties sell for less money is because of Items #2 and #3 in the article. Through Multiple Listing Services, networking with other agents and internet agreements, real estate agents get much more exposure for a given property. Increased exposure means greater likelihood of finding a better and more motivated buyer than is found with limited exposure as a For-Sale-by-Owner seller.

Be sure to read Item #1 in the article. It makes an excellent point that many By Owner property owners do not consider.