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Competition for homes is fierce right now. If you’re going to buy a home soon, you may have to compromise on something. Generally, buyers can compromise on: Price – You can pay more than you hope to pay Location – You can choose a home in a different part of town Condition – You can […]
Front Range Real Estate Market Update, February 10, 2022 Read More »
January numbers are out and it’s clear that competition among buyers is strong. Offers that get accepted tend to all have the highest price, inspection waivers, and appraisal gap coverage. Many sellers are also looking for free post-closing occupancy, where they rent back the home for up to two months. Homes are selling for 10
Front Range Real Estate Market Report, 2/7/2022 Read More »
It’s snowing as I write this, but the housing market feels like spring or summer. Buyers are facing stiff competition for every home out there. Well-priced homes in ideal condition receive multiple offers and go under contract quickly. We showed one home last weekend that had 153 showings and 33 offers. Another had 23 offers.
Front Range Real Estate Market Update, 1/28/2022 Read More »
ATTOM Data Solutions just came out with its detailed 2021 U.S. Home Affordability Report, which includes information about affordability in the Denver metro area. In all the Colorado counties covered by the study, homes are less affordable now than they have been in the past few years. Let’s look at just two of those counties –
Front Range Real Estate Market Update, January 20, 2022 Read More »
If you read our update every week, you know we don’t like to make predictions. We will say, though, that the first quarter of 2022 may surprise people. Most sellers put their homes on the market in April, May, or June. That’s likely to remain true next year, but we expect large numbers of homes
Front Range Real Estate Market Update, 12/1/2021 Read More »
Monthly Mortgage Payments for the Typical Home The affordability of housing is on everyone’s mind. We already know that first-time buyers are struggling to compete with investors and cash buyers. How expensive is it to purchase a home? Let’s take a look at the past year and how affordability now compares to one year ago. Below
Front Range Real Estate Market Update, November 26, 2021 Read More »
If you’ve bought or sold a home, you know all about comparable properties; often just called “comps .” Comps are properties that have sold recently and are similar in size, location, age, features, and condition. We use comps to determine the ideal asking price for a home we’re marketing. When we represent buyers, we look
Front Range Real Estate Market Update, September 30, 2021 Read More »
You’re going to start hearing about foreclosures going up. Here’s what you should know about those headlines. I just searched and, in our entire MLS, there are 12 foreclosed properties. In the Denver metro area, there are five. Take the news about foreclosures with a big grain of salt. Of course, it’s
Colorado Front Range Real Estate Market Update – 9/23/2021 Read More »
In August, 20.9% of the homes for sale had been reduced in price. In the one-week period that ended a week ago, there were 596 price reductions. This past week, there were 772. In other words, during the past week, there were 29.5% more price reductions than there were the week before. It’s not April
Front Range Real Estate Market Update, 9/16/2021 Read More »
Mortgage rates continue to hover between 2.87% and 3.03%, after remaining low the entire year. These low rates are helping take some of the pressure off buyers, who may have sticker shock. In our local MLS, which covers a large part of the state, the average price for a home sold in August was $606,789,
Front Range Real Estate Market Update, 9/2/2021 Read More »
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