Denver Real Estate

Fall Real Estate Update

PAINT! Your best (and cheapest) friend

It's a pain, you have to move your furniture, and hire someone to remove your favorite colors all for the sake of your wonderful real estate broker's request.  Is it worth it?  Well, if you've ever watched a single episode of anything that's ever aired on HGTV, the answer is of course, YES.  Attracting the largest possible audience to your home is critical, and as 95%+ buyers begin by an online search, making sure you have the best looking property can be the difference of thousands of dollars of unrealized equity.  Still on the fence?  See a few before and afters and let us know what you think....

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Second Quarter Denver Metro Statistics

And here's the breakdown of how the Second Quarter Broke Down across the Metro Area....

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Good Things Come to Those who Wait?

In this robust real estate market, have you considered purchasing new construction?  Throughout the metro area and beyond, builders are taking advantage of Denver's growth spurt by providing every type of new home imaginable.  Whether it be a new condo in Rino, a modern townhouse in one of Denver's established neighborhoods, a patio home , or purchasing  a build to suit  single family home with all the bells and whistles, you as a Buyer have a golden opportunity to get what you want in a new construction home. You can choose your own finishes and upgrades,  pick your personalized layout, choose your own lot and find the ideal location .  There are tremendous advantages to creating your own space,  rather than settling on a home where you need to "undo" someone else's taste.

 However, there are some cautions to consider if you choose new construction.  Firstly, a "Builder's Contract" is focused on protecting the Builder rather than the Buyer.  Many  protective contingencies found in a standard Contract to Buy and Sell are not included in a Builder's Contract.  Secondly, your  Earnest Money funds "go hard" in as little as 30 days so you must do all due diligence and decision-making to move forward  within that time period.  Thirdly, there is the elongated building  time frame to consider.  If you are renting, you need to factor in several months of rent into the completion of the home.  If you are selling your existing home, you need to gauge when to go on the market.  Most construction takes longer than planned and usually requires at least 9-12 months from start to finish.

Now is certainly a great time to consider building your dream, as long as you do it with careful consideration!

The Neighborhood Breakdown

How did yours compare to others?  We send this out bi annually, so if you'd like to start receiving this data delivered to your door, email us!

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Winter Real Estate Update

Real Estate in Review

The Denver Metro real estate market cooled a bit throughout the fall, as was expected.  Although the average sales price in Denver was 2% lower than the previous month ($394,059), it was still 12% higher than the previous year, according to ReColorado.com.  The chart below is an excellent review of how the market has behaved in relationship to the past two years.  The first chart displays the entire metro market, while the second image depicts the luxury market (i.e. homes over $1 million) as that market often behaves slightly differently.

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As we review the larger trends in the marketplace over the last year, we've found that the days on market has increased as the number of listings has increased, but the number of sales has inched down as we move into the holiday season.  All things to be fully expected, and important for both Buyers and Sellers to be aware of when timing the purchases and sales of real estate.

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Cherry Creek North

Maintenance Free Living in the Heart of Cherry Creek North- Move Right on into our Newest Listing!  Priced at $1,250,000, this home has 3  beds, 4 baths and is 4,152 Sq. Ft.

549 Fillmore Street

Target Pricing

Our market has experienced a steady transition in the last five months from a "Seller's Market" to a "Balanced Market."  Because this trend is relatively new and is on the heels of a robust springtime "Seller's Market," it has taken some time for Seller's to grasp the notion that pricing is dynamically changing. We are in constant contact with our Sellers to systematically evaluate this fluid market. Pricing must be exact and routinely "tweaked."  Perfect pricing has never been more important and it is well represented below.  This image highlights the significant difference between being on target and being overpriced.  As illustrated, pricing too high costs valuable time.  Buyers are savvy and patient and they will overlook overpriced properties...that means more days on the market and stagnation. When listing your property, we will always offer you our professional guidance for appropriate pricing!  

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The Way We Were

A look back on the last 10 years of average sales price in Denver- a lot has changed as we continue to grow!

Kentwood Real Estate in the News