April/May Real Estate Update

New Highlands Beauty for Sale

This newly listed home represents the best of old world charm and modern living.  It is located in the heart of the Highlands, close to shops, restaurants, and  easily accessible to downtown and the highway.  New steps and landscaping lead you to a renovated front porch. The living room feels fresh and modern, opening into a spacious dining room.  A light filled kitchen is larger than most and has been newly renovated.  Two bedrooms (one being used as a study) and a newly updated bathroom complete this floor.  Downstairs, a family room and gorgeous, oversized bedroom await complete with  a built in closet, and additional cedar closet and a huge newer bathroom. There is also a laundry room.

Outside there is a lovely patio, a nice sized yard and a one car garage.  This house has it all on an amazing block!

Do I Sell First or Buy First?

The single hardest decision facing current homeowners is how to best plan for their next move.  The dilemma regarding identifying the next home has led many sellers to wait to list until inventory increases so they feel more secure when looking for their next investment.  Fortunately, as we move toward the Spring, we have begun to see a seasonal uptick in the number of active listings that will continue through Summer.  This chart demonstrates just how few listings there have been for sale among detached single family homes in the city of Denver:

Historic Count of Active Listings over 5 Years in Denver for Single Family Homes

 

The best news for sellers is that you can make a great return on your investment now.  You can almost guarantee a quick sale, with excellent terms, and you have more control over the transaction than in almost any other market.    We have begun to see some Sellers place terms in the contract requesting an additional 30 days to identify a home to which they can move.  There are multiple negotiating points in a contract as Buyers and Sellers work out the best possible arrangement for both sides, so don't rule out selling even if you don't have all the details worked out yet-- Instead- take advantage of this great time to be a Seller!  This chart demonstrates the Average Days on Market and Average List Price for a single family home in the city of Denver over the last five years:

Average DOM vs List Price for Single Family Homes in the City of Denver for Last 5 Years

In the News: Denver Real Estate

The reality of being a purchaser in a hot market like this one is that you absolutely have to have everything lined up and ready to go before you step foot inside a house.  There are many ways to be competitive with your offer, and usually a combination of several techniques creates the most dynamic and successful offer.  The Denver Post has been writing extensively on this subject and provides a great perspective well worth sharing.

http://www.denverpost.com/business/ci_27780191/denver-buyers-up-their-game-be-last-bidder-standing-real-estate-deals

 

Rental Rates

A lot of clients ask us about how rental rates have been affected.  In our business, as rental rates have also climbed at unprecedented rates- even overtaking appreciation rates of housing, we have seen many renters become buyers.  There are many first time buyers in this market, which makes the hottest markets under about $450,000.  

http://www.denverpost.com/business/ci_27707997/soaring-rents-denver-have-tenants-thinking-more-about

 

Reminder

Street Sweeping in Denver Has Begun April 1st!  Don't Forget to Move your Cars if you Park on a city street!

Beautiful Textiles- Special Offer

Elizabeth's Mother in Law is a very talented Fabric Designer who has been featured in homes and magazines around the world.  She is currently offering a special discount to our clients!