Why The Market Slowing Down Is Good For Denver Real Estate

The real estate market in Denver has slowed down, but that’s a good thing. It sounds counterproductive, but for buyers and sellers, it is a good thing and here’s why.

Puts homeownership within reach

Why The Market Slowing Down Is Good For Denver Real EstateFor buyers it means that homeownership is within reach again. In a slower market home prices are lower. That’s great for buyers, obviously.

What makes it good for sellers is that they don’t have to rush to market. Knowing that they aren’t “missing out” on a hot market means that they have time to get it right. Updates can be made, and they can take a week or month to get their home in the best shape ever.

For a seller that means the best price for their property.

More time and less worry

In a slower market there are fewer frantic buyers buying anything and everything just because it may not be there the next day. Not great for sellers, obviously. But for buyers it means they can take time to see more homes and find the right one, instead of feverishly buying SOMETHING because it may disappear from the market the next day. With that also goes the bidding wars. Having more time to decide without the worry about being outbid.

Better price negotiations

A slower market also gives a buyer more negotiation room for buyers and sellers. For sellers a slower market means less competition. That will help with price negotiations. For buyers it means you can also negotiate price, but with it you can negotiate in repairs, closing costs and other concessions.

Don’t give up your dreams of homeownership or selling your current home because of a slower market. It can be a great thing for you as a buyer or a seller. Call your Realtor today and ask how they can help you.

3 Places To Buy Investment Properties In Denver

Denver has lots of different neighborhoods and each has their own character. Whether downtown, in the towns surrounding or further out, each are great places for investment properties.

College areas

3 Places To Buy Investment Properties In DenverOne great place to look for an investment property is around colleges. Colleges offer a slew of opportunities for tenants. College students often look to off campus housing to make college more affordable. Not all are party animals who will destroy your property. In fact most landlords find that students tend to be better tenants than others.

While it may mean faster turnover, students may only stay a year or so, there is always another class of students coming to town. So purchasing a home, town home, condos or apartments, students will jump at the chance to live independently off campus.

Find out more about area colleges: 5 Best Colleges In The Boulder Denver Metro Areas

Nearby suburbs

Other places just outside of town can mean great properties for families. Think of the nearby suburbs that have great schools, close shopping and parents who will be working in Denver.

Of course, there are also the wonderful opportunities in the suburbs or just further out. Some great suburbs to check out are Westminster, Broomfield and Brighton in the North and Parker or Lakewood in the South.

Executive rental properties

Larger estate properties that will make fantastic executive rentals. The properties must be top notch and equipped with the latest and greatest updates, technology and amenities. Executives expect no less and will pay through the nose for it. Although you may have to invest more money into the property, you will definitely make it back in rental revenue.

Find out more about Denver Executive Rentals

Denver has great places to make your mark as a real estate investor. Look at who you may want to have as a tenant then go find a great Realtor to help you find the property you need.

Why The Market Determines The Price of Your Home, Not Your Realtor

If you’ve ever sold a house, you know that pricing it is mysterious. Did you know that while it seems that your Realtor pulls the price out of the air, he
Why The Market Determines The Price of Your Home, Not Your Realtoror she doesn’t? Your Realtor doesn’t determine price, the market does. A good Realtor just knows how to use the market to price your home. They use something called comparable sales.

Comparable sales

Comparable sales or market comparison, shortened to comparables in the real estate business, are recent sales of homes that are similar to yours. It’s a method that is used by professional, licensed real estate appraisers for appraising single-family houses. It uses actual sales amounts for recent sales, not things like cost to replace the home, tax assessment values, similar listings, what it sold for when you bought it or what your neighbor says they think its worth.

Comparable sales may or may not be in your neighborhood. Unless you live in a cookie cutter neighborhood, where every house is the same size, values will be all over the map. Your 1500 square foot home on a half acre may be sitting next to a 2000 square foot house on an acre, or next to an 800 square foot bungalow on a tiny lot. Your house may be updated to the nines, but your neighbor two doors down may not have touched their home in 25 years.

Use homes that sold in the last 6 months

You should only use homes that sold in the last 6 months, in similar neighborhoods and close to yours. The homes compared should be similar in age (within about 5 years), size (within 300 square feet) and lot size. A comparable should be in the same area, but not necessarily the same neighborhood. Then check their past listing information to see if the home is as updated as yours, more or less. Then you can go through the process of figuring out the price per square foot of each similar home and use the average to find out the price per square foot of your own.

Appraiser

Or you can hire a professional to do it for you. An appraiser can provide the same comparable information for you… for a price. Your best bet is to ask a Realtor. They have access to the information and know how to get to a fair market price for your home.

Selling Your Denver Home | 5 Tips To Get The Most Money For Your Home

We are discussing selling your Denver home. Of course, everyone who sells their home wants to get the most money they can. It’s kind of counterproductive to sell for as little money as possible! There are things you can do to be sure you get the most for your Denver home.

First- a neat, spotless house

The best thing you can do to improve the chances of getting more for your home is to clean and declutter it. A neat, spotless house will probably fetch an additional $5,000- $10,000 above Selling Your Denver Home | 5 Tips To Get The Most Money For Your Homeasking price. Using this method we sold our house in 10 days. When you decide to sell, start decluttering right away. Pack up anything you don’t need and store it off site. The less people see, the more spacious your home looks. Once the clutter is out of the way then deep clean. Scrub from ceiling to floor, walls, floors, appliances, woodwork and everything. Your home should shine.

Updates are important

Make updates to your home that will actually pay. Check with your Realtor about what to do, but don’t make changes that cost a lot but give little value. Kitchens and baths sell homes, but don’t make them so high end that you price yourself out of the neighborhood.

Price it right

Don’t demand that extra money you want in the asking price. Price it to the market and you’ll increase your chances of a bidding war that will raise the price. Listen to your Realtor when they tell you the right price for your property.

Curb appeal

Make your home have the best curb appeal on the block. First impressions are key. The less a buyer feels they have to do, the more they will be willing to pay for your home. That means inside and out.

Market your home well

The more people you can get to look at your home, the more offers you’ll get. More offers mean higher selling prices. Talk to your Realtor early on and do what he or she suggests. They know the market and will help you get the best price possible.

5 Things To Do BEFORE You List Your Home For Sale | Denver Realtor Tips

You’ve decided to list your home for sale. Great! There are some things you should do before you put the sign out front.

1. Locate all important papers

5 Things To Do BEFORE You List Your Home For Sale | Denver Realtor TipsBefore you do anything else locate all the important papers for your home. Things like operating manuals for appliances, warranties and any receipts or information on updates to the systems in the home.

Also gather utility bills so your can tell your Realtor
what your average heating and water bills are. Then get estimates for the cost to replace things in your home that might be ready to be replaced. Then you can decide if you want to do that yourself, or at least have the information handy so you can use it as a negotiating tool later.

2. Think first impressions

Go outside and look at the entrance to your home. Is it warm and inviting or tired and blah? What about your landscaping? Spruce it all up because if the outside looks bad no one will stop to look at the inside. Curb appeal is very important!

3. Clean and declutter

Buyers look EVERYWHERE! They open cabinets, appliances and closets. If you don’t want to clean yourself, hire a professional to really deep clean your house. Before they come start packing up your extras, personal items and anything not necessary to live for a few weeks or so. Not only will it give you a leg up on packing, but it will make closets and rooms look bigger. Take all that you pack up and store it off site.

4. Replace light bulbs and heavy curtains

Make rooms look light and airy. Also makes the home more neutral. Update paint on the walls with less bold colors and more neutral. Neutral doesn’t mean white, but an up to date color that isn’t super bright or bold. Also repaint woodwork.

5. Stage your rooms

Set tables with placemats and dishes. Use the good china in the dining room, or casual in the kitchen or eating nook. Also remove any pet stuff and see if you can find a temporary place for your pets during showing hours.

Now you’re ready!