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You'll find local information, buying and selling tips, and updates on listings and market reports for the Denver Real estate market and specifically Wheat Ridge Real Estate.

Jan. 19, 2022

Year-End Special: Denver Housing Market Report 2021

Year-End Special: Denver Housing Market Report 2021

Let's talk about how did the Denver housing market report in the Denver Metro Area went this 2021 and its historically record-breaking statistics.

Year-End Special Denver Housing Market Report 2021

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening especially if you are thinking of buying a home in Colorado or selling a home in Colorado. Understanding the real estate market reports is a great start to observe the changes that happened in 2021 and 2020, unfold challenges, and discover opportunities that both buyers and sellers can benefit from in today's Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

High demand, low supply. The last month of 2021 Denver Metro housing market report showed the historically low active inventory in the Denver Metro area at month's end yet it also showed a record-breaking increase in home prices. In 2021, the interest rates remained consistently low. However, this is projected to change this 2022. Big names in the US real estate market like Fannie Mae, Freddie Mac, and many more have predictions of interest rates and mortgage prices increasing in 2022. The 2021 Denver real estate market statistics showed the lowest month-end active inventory at only 1,477 where it dropped drastically by 34.30% compared to the previous month and a huge 41.87% drop compared to 2020. This drop in active inventory is 11,175 fewer homes for sale in the Denver Metro area than normal. In terms of the attached and detached single-family home in the Denver Metro area, the December 2021 Denver real estate market report only had 968 single-family detached homes for sale and only 509 attached properties for sale by month's end throughout the entire Denver Metro area which is the lowest it has been for 2021. 

The shortage of homes for sale in the Denver Metro area is one of the biggest factors of the continuous increase in home prices. There were more buyers than there are homes available for sale not only in the Denver Metro area but in almost all areas nationally. We have seen home buyers having to compete for the highest offer and offers with the best terms. Another factor is the increase of conforming loan limits to $684,250 in the Denver Metro area which is $37,050 higher than the entire conforming loan limits in the US. This encouraged buyers to buy a home in Denver now as they can purchase a home for $750,000 and only put 10% down without it being a jumbo loan.

In the December 2021 Denver housing market report, there were only 968 single-family detached active homes at month-end on the market which showed a 32.96% decrease compared to the previous month and a 26.44% decrease compared to last year. There were also 1,781 new homes listed on the market at month-end which also showed a 30.43% decrease compared to the previous month and a 12.78% decrease compared to the previous year. There were 3,155 single-family detached homes were sold in December 2021 which showed a 16.40% decrease compared to the previous month and also a 12.26% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down a bit with an average of 19 days of being live on the market compared to 15 days from the previous month. However, the average closed price went up to $705,753 showing a 0.25% increase from the previous month and a 15.61% increase compared to the previous year and a day faster compared to the previous year's 20 days.

In the attached market, attached single-family homes in Denver showed a 36.69% decrease in active homes at month-end at 509 attached homes compared to the previous month and a whopping 58.45% decrease compared to the previous year. There were only 871 new listings that showed a 26.19% decrease from the previous month and a 12.37% decrease compared to the previous year. There were 1,349 sold attached single-family homes in Denver also showed a 12% decrease from the previous month and a 17.44% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a day with an average of 17 days of being live on the market compared to 16 days from the previous month yet 15 days faster than the previous year's 32 days.

Buying or Selling a Home in Colorado

2021 was a year of an extreme seller's market and we can see that continuing in 2022 so if you are planning to sell your home in Colorado, do it now! It's the best time to sell your home in the Denver Metro area as there's a shortage of homes for sale in the market, there are more buyers, and you can expect multiple offers, even an above asking price offer for your Denver, Colorado home. 

On the other hand, if you are planning to buy a home in Colorado, you need to do it ASAP. Why? The longer you wait, the more home prices are going up. As we've mentioned before, it's been projected that interest rates will start to slowly go up so doing it at the earliest time possible will save you more money. Experts' prediction states that in 2022, we can see interest rates starting to rise again and expect that home prices will continuously increase towards the end of 2022. f you are a buyer and have been planning to own a home in 2022, this is the time to stop waiting. If both home price and mortgage rates increase, you will be paying a lot more if you wait until the end of the year. Do it as early as you can! The increase in the interest rates, the mortgage rate will result in an increase in home prices. The earlier you start the home buying process, the better. 

You deserve a real estate agent who has a proven strategy, is a strong negotiator, and is backed with experience to help you be successful in today's challenging Denver real estate market. If a new home in Denver is on your goal this 2022, My Colorado Move, is here to help you find your dream home.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's real estate opportunities.

To download or see a copy of the full report, click here.

Posted in Market Updates
Dec. 15, 2021

Denver Housing Market Report December 2021

Denver Housing Market Report December 2021: What's Going On With Denver Real Estate Market Today?

The December 2021 Denver Metro real estate market report is OUT!

Denver Housing Market Report December 2021

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening especially if you are thinking of buying a home in Colorado or selling a home in Colorado. Understanding the Denver real estate market statistics is crucial especially now when everything is slowing down because of the upcoming holidays this 2021. Understanding the real estate market reports is a great start to observe the changes that happened, unfold challenges, and discover opportunities that both buyers and sellers can benefit from in today's Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

The December 2021 Denver Metro housing market report showed a drastic decrease in inventory as we move closer to the holiday festivities. We have seen the Denver real estate market showing a continuous decrease in month-end active inventory throughout October to November. The month-end active inventory drastically dropped to 2,248 which showed a 33.41% decrease compared to the previous month's real estate statistics. The December 2021 Denver real estate market report only had 1,444 single-family detached homes for sale and only 804 attached properties for sale by month's end throughout the entire Denver Metro area.

While it may be common for sellers to hold back on selling and some buyers slowing down to enjoy December festivities, there are still amazing opportunities to take advantage of and a lot of reasons to step on that gas pedal on buying a home or selling a home in Denver right now. One of the greatest opportunities that we have in the Denver real estate market is that interest rates are still low. While most people typically take a break to celebrate the holidays and enjoy winter vacations, people actually have more free time off to look at homes for sale in Denver. There is less competition too so looking while others are not, gives buyers a competitive advantage in buying their dream home. Despite the low inventory, buyers are still relentlessly looking for homes for sale in the Denver Metro area and homes are still being sold. Based on recent real estate market reports, there have been more homes purchased than in any of the previous five years.

Selling your home in Denver during the holiday season is also never a bad idea as there is much less competition as well, almost all homes are in demand because of the shortage of homes for sale in the Denver Metro area, and there are more serious and motivated buyers looking to buy a home in Denver Metro area. The low inventory of homes across all price points in the Denver real estate market will continue to keep even the homes under the highest price points seeing multiple offers and home prices will continue to soar. We are expecting to see more of the slow down in activity as we approach the end of the year with the weather changes and holiday festivities, however, we do not see a decrease in demand for homes for sale in Denver making it a great time to sell your home in Denver.

In the November 2021 Denver housing market report, there were only 1,444 single-family detached active homes at month-end on the market which showed a 38.58% decrease compared to the previous month and a 17.72% decrease compared to last year. There were also 2,561 new homes listed on the market at month-end which also showed a 30.82% decrease compared to the previous month but showed a 3.68% increase compared to the previous year. There were 3,513 single-family detached homes were sold in November 2021 which showed an 8.97% decrease compared to the previous month and also a 7.87% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down but only by a day with an average of 15 days of being live on the market compared to 14 days from the previous month.

In the attached market, attached single-family homes in Denver showed a 21.56% decrease in active homes at month-end at 804 attached homes compared to the previous month and a whopping 51.57% decrease compared to the previous year. There were only 1,180 new listings that showed a 26.98% decrease from the previous month and a 3.83% decrease compared to the previous year. There were 1,419 sold attached single-family homes in Denver also showed a 13.74% decrease from the previous month and a 10.81% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a day with an average of 16 days of being live on the market compared to 15 days from the previous month.

Buying or Selling a Home in Colorado

If you are planning to sell your home in Colorado, now is the best time as there's a shortage of homes for sale in the market and you can expect multiple offers. On the other hand, if you are planning to buy a home in Colorado, this season is perfect for you too as there isn't a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and is backed with experience to help you be successful in today's challenging Denver real estate market. If a new home in Denver is on your Christmas list, My Colorado Move, AKA Santa's Real Estate Helpers is here to help you find your dream home.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's real estate opportunities.

To download or see a copy of the full report, click here.

Posted in Market Updates
Dec. 13, 2021

Can I Mix Metals in the Kitchen When Updating?

What Is the Mixed Metal Look?

Every kitchen has at least some metal featured in the faucets, light fixtures, etc. Mixing metals involves using different — but complementary — metals in a single design. Rather than choosing a chrome kitchen faucet and chrome pendant lights to match your stainless-steel stove, for example, you can incorporate two or three metals to use throughout the space.

How Can You Mix Metals Appropriately?

While mixing metals can help create a layered, cohesive kitchen style, it only works when you do it thoughtfully. To design a space that you’ll be happy raising your kids in, here are some tips for mixing metals intentionally:

1. Don’t overdo it

2. Make one metal the star of the show

3. Alternate the lights

To learn more about how to achieve the perfect blend, take a look at the accompanying resource, which highlights eight tips for blending metals in a way that you and your whole household will enjoy.

 

Infographic created by Gerber.

For more information on Wheat Ridge homes for sale or staging your Denver real estate, contact my office at any time. 

Posted in Homeowners
Nov. 11, 2021

Denver Housing Market Report November 2021

Denver Housing Market Report November 2021: What's Going On With Denver Real Estate Market Today?

The November 2021 Denver Metro real estate market report is OUT!

Denver Housing Market Report November 2021

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening if you are thinking of buying a home in Colorado this 2021 especially this Fall. Real estate market reports are only the beginning of the process of understanding the changes, opportunities, and challenges in the Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

The November 2021 Denver Metro housing market report showed that in October real estate market statistics in Denver, there are some good aspects of the Denver real estate market to be thankful for despite experiencing a year of continued turbulence. We have seen ease in what has been an unpredictable real estate market throughout the year. Based on records on the activity of the Denver Metro housing market report, the majority of the statistics were seasonally consistent with what the Denver real estate market has seen in years past. It can also be seen that the prices of homes for sale in Denver have been staying consistent month-over-month making it great for buyers as they have a better opportunity of buying their dream home without having to deal with skyrocketing home prices.

The Denver Metro real estate market report for October 2021 showed that when lower numbers change in the month-end active inventory, they yield higher prices. On the last day of October, there were 3,376 homes for sale in Denver metro area which presented a 14.98% decrease from the previous month. October 2021 Denver real estate market also showed a decrease in average closed price compared to the previous month by 0.96%. There were 5,314 homes listed on the market which was 13.28% less than the previous month and 5,169 homes sold which was also 8.29% less than the previous month's real estate housing market report. Even though this month's report showed that the home buying and selling process has been hard, there are still many to be thankful for as there have been more homes purchased year-to-date than the previous years. It also reopened the door to the buyers that have maybe been a little demotivated from buying into going back to look again and as Denver prepares for the upcoming holiday season, it's usually normal to have gaps of buyer demand.

In the October 2021 Denver housing market report, there were 2,351 single-family detached active homes at month-end on the market which showed a 16.13% decrease compared to the previous month and an 11.05% decrease compared to last year. There were also 3,704 new homes listed on the market at month-end which also showed a 15.66% decrease compared to the previous month and a 12.31% decrease compared to the previous year. There were 3,645 single-family detached homes were sold in October 2021 which showed an 8.99% decrease compared to the previous month and also a 23.10% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down but only by just a bit with an average of 14 days of being live on the market compared to 13 days from the previous month.

In the attached market, attached single-family homes in Denver showed a 12.24% decrease in active homes at month-end at 1,025 compared to the previous month and a 52.94% decrease compared to the previous year. There were 1,610 new listings that showed a 7.26% decrease from the previous month and a 21.23% decrease compared to the previous year. There were 1,524 sold attached single-family homes in Denver also showed a 6.56% decrease from the previous month and a 14.53% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a tad bit with an average of 15 days of being live on the market compared to 14 days from the previous month.

Buying or Selling a Home in Colorado

If you are planning to sell your home in Colorado, now is the best time as there are fewer homes in the market and you can expect multiple offers. On the other hand, if you are planning to buy a home in Colorado, this season is perfect for you too as there isn't a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market. If you are looking for great homes for sale in Denver, we can help you.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's historic low-interest rates.

To download or see a copy of the full report, click here.

Posted in Market Updates
Nov. 9, 2021

6 Silly Things Homeowners Do That Ruin Home Value

A home is most American’s biggest asset and sometimes we can make silly improvements that inadvertently reduce the value. Some updates and renovations can backfire when it comes time to sell the home. Here are some common silly mistakes that homeowners make that could be dragging down a home’s resale potential.

Using the wrong paint color6 Silly Things Homeowners Do That Ruin Home Value

You might think neutral colors are boring but many buyers when they come to tour a home are turned off by bright colored walls. It kind of seems silly because it is very easy to repaint the room, but some people don’t want to mess with the hassle and this can cause them to move on to the next house.

Using a bold and busy design

Bright and big large busy patterns such as on wallpaper, tiles, or flooring can be a huge turn off. These items are much harder to change than just paint and can take quite a bit of effort especially when it comes to very bold tile patterns that are not to the liking of a buyer’s taste. If you don’t believe you will be moving anytime soon or ever plan to resell your home, go ahead and do the loud design, but these choices should always be thought about if you plan to ever resell your home.

Removing a closet from a room

This is an especially costly mistake in urban areas. A space with very little closet storage may not impact the overall home value, but it could be a huge turn off to a buyer to not have a closet in a room. In some cases, it could affect the appraisal value as it could change the ability to classify the room as an actual bedroom.

Ripping out a bathroom or a laundry room

Some homeowners with very small square footage may be tempted to rip out a rarely used bathroom to turn it into a closet or a living space. This is never a good idea as a bathroom is always prime real estate space and worth a lot in the world of home value.

Not getting a building permit

Many homeowners try to save money by conducting home renovations on their own or hiring a contractor that is not licensed. Oftentimes people that go these routes do not have their renovations permitted through the proper channels. This can come back to bite you when you sell a home as during the inspection if the code is not up to current building standards, and it is learned that there is no permit for any renovation work that has been conducted, there could be serious consequences like being required to rip out all of the work that was done or pay a large fine to get a permit.

Updates that are overly trendy

Using the latest from renovation trends can backfire as these looks become very quickly dated just one or two years after they are complete. This makes portions of the home look tired and worn down and sort of communicating that the home is not well cared for. If you plan to resell your home go with tried-and-true classic additional finishes that will stand the test of time.

If you are unsure of how the planned home renovation project will impact your home it is best to consult a real estate professional.

More Tips for Sellers:

How Long Should You Wait to Sell a Home?

Is Staging the Same Thing as Decorating?

Want to Sell a Home in Wheat Ridge?

How to Improve the Curb Appeal of Your Home

 

Posted in Selling Your Home
Nov. 4, 2021

How Long Should You Wait to Resell a Home?

People purchase a home, move-in, and then several things can pop up unexpectedly in life such as a pregnancy, or new job, or maybe you discover that you’re just not a fan of the neighbors or the actual location of the home is not as ideal as it originally seemed. Or maybe you’ve discovered that your house has rapidly increased in value with the hot seller’s market that we are currently in and you are thinking the amount of equity you have accrued would be nice to put down on a home that meets your dreams even better.How Long Should You Wait to Resell a Home?

Can you sell a home too quickly after purchasing one? Is there such a thing as selling a home too soon after you buy it? Will there be any legal consequences to selling a home shortly after you’ve purchased it? Here are some things to consider before making a hasty move in selling your home if you only lived there for a short period of time.

How soon can you legally sell a home after you have closed on the final sale?

If you have finalized all the paperwork and receive the keys to your brand-new home you could sell it the very next day if you so decide. There is no legal ramification to this. This is referred to as a double closing, or concurrent closing, and is carried out by home wholesalers all the time. Even though you are legally entitled to sell your brand-new home whenever you want, it doesn’t mean that it is the greatest idea. For the majority of traditional homebuyers, it takes anywhere from six months to two years before it would financially make smart sense to sell a home depending upon price appreciation and the manner in which you finance the home.

Three reasons selling a home too quickly would not be the best idea

  • Capital gains tax

If a property gains equity, which is an amount of money that the home is worth above the amount the property owner currently owes on the home, and you will be generating a profit upon selling the home, you are subject to be taxed on this amount as income. Selling a property after you have lived there for at least two years lowers your capital gains tax responsibility significantly. The exact amount and what you are taxed depends upon your specific IRS income tax bracket.

  • Pre-payment penalties

If you have taken out a mortgage loan on the home there may be a clause in the contract for your mortgage that states you must pay a fee to close out your mortgage loan early. Not every mortgage loan includes this but it is worth checking into to make sure that your loan does not have a pre-payment penalty. Some penalties may require you to pay just a few months’ worth of interest while others could expect a percentage of the entire balance of the loan.

  • Considering the break-even point

Even if your home has a significant amount of equity in it, this will not mean that you will turn a profit upon selling the home. All of the additional expenses that come with buying and selling a home need to be determined to help evaluate if a profit could be made. There are costs to consider such as paying for closing costs, paying any real estate agent commission, having money for any important repairs, and so on. The less equity you have in your home the less likely it is to turn a profit in a short amount of time.

No matter what your reason for selling your home fairly shortly after you have purchased it, make sure that you consult with a financial and a real estate expert to go over if it really is the best decision for your individual situation.

Thinking of selling or just have more questions? Contact me anytime for tips on buying and selling homes in Wheat RidgeDenver, Arvada, and Edgewater.

More Great Tips for Buyers

Six Red Flags to be Aware of When Buying a House

Uncommon Things to Look for When Buying an Older House

How to Make Your Offer Stand Out

Is staging the Same Thing as Decorating?

How to Set Up a Great First Impression When Selling

4 Things to Do Before Selling Your Home

Posted in Selling Your Home
Oct. 20, 2021

Pumpkin Patches in Colorado

What better way to make the most out of this year's fall and since Halloween is just around the corner, it's the best time to visit pumpkin patches in Colorado. Luckily, there are a lot of pumpkin patches in Colorado that also come with corn mazes and other fun activities to do for people of all ages. Below are some of the pumpkin patches in Colorado and the other fun activities you can enjoy.

Pumpkin Patch in Colorado

  1. Fall Festival at Anderson Farms

    Fall Festival at Anderson Farms is located at 6728 County Rd 3 1/4, Erie, CO 80516 where they feature a 25-acre corn maze, combine slide, a wooden train, tire mountain, Krazy Rainbow Maze, pedal carts, Fort-A-Lot-A Fun, a magic show (on select days), plus a wagon ride to the 25-acre pumpkin patch, where you’ll find 70 varieties of pumpkins, squash, and gourds between $2 and $12, and so much more. Fall Festival at Anderson Farms is open six days a week through Oct. 31. Their schedule is as follows: Saturdays from 9 AM to 11 PM, Sundays from 9 AM to 10 PM, Mondays and Wednesdays from 10 AM to 6 PM (closed on Tuesdays), Thursdays from 10 AM to 10 PM, Fridays from 10 AM to 11 PM. Ticket prices are between $15-$23 and free for 3 years old and under.

  2. Pumpkin Festival at Denver Botanic Gardens 

    Pumpkin Festival at Denver Botanic Gardens is located at 8500 W Deer Creek Canyon Rd, Littleton, CO 80128 that features family and children's activities, local craft and artisan booths, entertainment, live music, food trucks, food vendors, beer vendor, hayrides, entry to the pumpkin patch, antique tractor exhibit, photo booths, carnival tickets, mini corn maze, and many more! Pumpkins are averagely priced at $8, admissions range from $7 to $12, and must be pre-purchased online, 2 years old and under are free.

  3.  The Colorado Pumpkin Patch

    The Colorado Pumpkin Patch is located at 18065 Saddlewood Rd, Monument, CO 80132 that features a farm animal petting area, tractor hayrides, laser tag, human foosball, a straw maze, pony rides, bounce pillow, tube swings, straw slides, face painting, and many more (some activities carry an extra fee). Pumpkins range from $2.50-$12. The Colorado Pumpkin Patch is available until October 31 from 9 AM to 1 PM on Tuesdays, Wednesdays to Sundays from 9 AM to 5 PM. Ticket prices range from $11 to $14, depending on the day. Kids 3 years old and under free.

  4. Cottonwood Farms Pumpkin Patch

    Cottonwood Farms Pumpkin Patch is located at 10600 Isabelle Rd, Lafayette, CO 80026 where you can enjoy a 4-acre corn maze, straw bale maze, pumpkin patch, farm animals, steam engine and farm equipment, farm stand, and wagon rides. Cottonwood Farms Pumpkin Patch is available through Oct. 31. from 10 AM to 6 PM daily. The admission fee is $5 daily and kids under 5 and seniors over 65 are free. Tickets are available online up to one week in advance (prepaid admissions are encouraged). Visit the Fall Market, where you can purchase pumpkins, squash, decorative items, and more.

  5. Rocky Mountain Pumpkin Ranch

    Rocky Mountain Pumpkin Ranch is located at 9059 Ute Hwy, Longmont, CO 80503 that features pumpkins, produce, and a family-friendly carnival at this organic farm. Some of the fun activities you can enjoy include a train ride, cornstalk tunnel, fire truck slide, hay maze, obstacle course bouncer, petting zoo, pony rides, pumpkin painting, sand art, basketball games, and many more. Rocky Mountain Pumpkin Ranch is available until October 31 and is open daily from 9 AM to 6 PM.

Posted in Community News
Oct. 18, 2021

How To Build Your Own Down Payment Fund

If you are thinking ahead, hoping to purchase your first home one day, one of the biggest hurdles on your mind is likely coming up with a down payment. While there are many first-time homebuyer programs that assist buyers with the process by accepting a lower down payment or closing costs, you’re still going to need thousands of dollars in the bank before you begin the process. There are some tried and true ways to start building up that fund, and with consistency, you might meet your goal sooner than you think.

Budget

First things first: if you aren’t already living by a budget, now is the time to start. There are lots of apps and methods available, all with their own pros and cons, but the important thing is to get started. Look at how much money you’re bringing in each month, how much your basic living expenses cost, and what you’re doing with the rest. Chances are good that if you aren’t currently living by a budget, there’s probably a lot of money leaving your hands that doesn’t need to. By setting a saving goal each month and putting a limit on your spending in some categories, you will likely save hundreds each month. Even if you’re on a tight income and only find an extra $100 per month, giving each dollar a place to go will help you develop a plan and a timeline for your down payment fund.

Side Hustle

Now more than ever before, you can make some extra money for your down payment fund in all sorts of creative ways. Many apps offer jobs completely according to your availability, like food delivery, courier services, or ridesharing. By working just one shift a week you can easily add hundreds to your down payment fund each month. If you’re a stay-at-home parent, you can look into babysitting other kids while you’re home with your own. Many cities also have facilities that pay you for donating plasma, where you can make around $100 per week for just a couple of hours of your time.

Subscriptions

Go through your bank statement and make a list of all the recurring monthly fees you’re paying. Maybe you have a gym membership you aren’t using or could cut out for a season. There might be a subscription you forgot you had and aren’t using or a free trial you forgot to cancel. You might be surprised how much you can save by eliminating the subscription and membership fees you don’t need.

Yard Sale, But Take It Online

Another easy way to make some extra cash for your down payment fund is to list items for sale online, through an app like OfferUp or Facebook Marketplace. Furniture, clothing, sports equipment, and more can bring in cash for things you aren’t using anyway. Even if the items don’t sell for much, it adds up slowly over time, and remember: saving for a down payment is far more about consistency over a long period of time than about large sums.

Ready to get started? Contact Me anytime to get in touch with a great lender so you know how much you can spend and how much you're going to need for a down payment.

 

More Great Tips for Buyers

Six Red Flags to be Aware of When Buying a House

Uncommon Things to Look for When Buying an Older House

How to Make Your Offer Stand Out

What to Know About the Home Inspection

 

Posted in Buying a Home
Oct. 12, 2021

Home Gyms Gain in Popularity

Whether you call it a home gym, family wellness center or workout room, exercise areas at home have become more and popular since the isolation of the Covid 19 pandemic created our “new normal”.Home Gyms Gain in Popularity

These energizing spaces have become sanctuaries where all ages can retreat to improve their mental and physical well-being. Almost any extra space within a home or other dwelling can be converted to an area where individuals can “pump it up” and “feel the burn.” Extra bedrooms, a garage, attic or even outbuildings have the potential for providing workout areas. Portable sheds and modular units are other viable alternatives for working out in your own backyard.

Your Own Gym?

According to the American Exercise Council, the space required for a dedicated exercise room depends to some extent on the equipment being used; free weights require 20 to 30 square feet to use properly, treadmills need about 30 square feet and a multi-station gym necessitates 50 to 200 square feet. Other equipment that is popular for home gyms includes stationary bikes, foam rollers and pull-up bars.

Of course, more elaborate home gyms may take up as much square footage as the budget allows. However, even a small or “island” created within a room can serve as a portable fitness area. Just roll out an exercise mat, bring in equipment like dumbbells, an exercise ball, jump ropes and resistance bands, turn on some music with a beat and carry out your exercise program. Roll up the mat, stow the equipment in a basket and whisk them off to a storage area once you are done with your routine.

Rubber flooring and carpet tiles and interlocking floor mats are good options for flooring in-home exercise areas. Installing flooring designed specifically for aerobic exercises is especially important to help prevent damage to joints when doing high-impact exercises. Mirrors can be additions that are especially useful for monitoring your exercise routine as well as visually opening up the exercise space. They can transform a dark space into an airy studio that reflects light and expands the view.

When determining the best color paint to use in a home gym, green is a good choice. Refreshing and restorative, green can be soothing and relaxing and allow you to concentrate on your task at hand. Add artwork or wall décor such as decorative posters that inspire you to take action on your fitness goals.

When planning your exercise area, think about amenities that will invite you to be disciplined and intentional about taking care of your body’s fitness needs.

Looking for a home with a gym? Maybe space to add your own? Contact me anytime for tips on buying homes in Wheat Ridge, Denver, Arvada, and Edgewater.

Posted in Homeowners
Oct. 7, 2021

Denver Housing Market Report October 2021

Denver Housing Market Report October 2021: What's Going On With Denver Real Estate Market Today?

The October 2021 Denver Metro real estate market report is OUT!

Denver Housing Market Report October 2021

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening if you are thinking of buying a home in Colorado this 2021 especially this Fall. Real estate market reports are only the beginning of the process of understanding the changes, opportunities, and challenges in the Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

The October 2021 Denver Metro housing market report indicated that the market is getting hot. The latest Denver housing market report showed an increase in inventory by 10.86%. Because of this, September felt back to the normal red-hot speed of today's real estate market and made it a great time to buy a home in Denver. The latest report also showed the overall month-end closed properties were 12.81% compared to the previous month's real estate statistics and 19.27% lower than the previous year. As we continue to see low inventory and fewer homes on the market, the balance of supply and demand remained steady, making it another month of competition for buyers. As the months of inventory increased by 0.76, this gave buyers more options and this slowdown in the Denver Metro real estate market made buyers more willing to be more patient in finding the right home for the right price. This doesn't mean that we are now over the strong seller's market. There is still a shortage of great homes for sale in Denver, Colorado, and more buyers looking to buy a home in the Denver Metro area before the colder weather begins which indicates that it's still a great time to sell a home in Denver right now. 

The Denver Metro real estate market report for September 2021 still presented the lowest number of active properties on record with only 3,971 properties available on the market at month's end. Compared to August 2021's Denver housing market report, the month-end active listings increased by 10.86%. September 2021 Denver real estate market also showed an increase in average closed price compared to the previous month by 0.77%. While month-end active inventory is historically low for September, there are still plenty of opportunities for both buyers and sellers as the Denver real estate market goes hot.

In the September 2021 Denver housing market report, there were 2,803 single-family detached active homes at month-end on the market which showed a 13.53% increase compared to the previous month and a 7.83% decrease compared to last year. There were also 4,392 new homes listed on the market at month-end which also showed a 2.07% increase compared to the previous month and a 1.06% decrease compared to the previous year. Because of low inventory, only 3,711 single-family detached homes were sold in September 2021 which showed a 12.39% decrease compared to the previous month and also a 20% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down a bit with an average of 13 days of being live on the market compared to 10 days from the previous month.

In the attached market, attached single-family homes in Denver showed a 4.94% increase in active homes at month-end at 1,168 compared to the previous month and a 48.32% decrease compared to the previous year. There were 1,733 new listings that showed a 4.10% decrease from the previous month and a 15.01% decrease compared to the previous year. There were 1,522 sold attached single-family homes in Denver also showed a 13.82% decrease from the previous month and a 17.42% decrease from the previous year. Days in the market for attached homes are also slowing down a bit with an average of 15 days of being live on the market compared to 14 days from the previous month.

Buying or Selling a Home in Colorado

If you are planning to sell your home in Colorado, now is still the best time as you can still expect multiple offers because of the lesser homes available on the market today. On the other hand, if you are planning to buy a home in Colorado, it can also be a great time as there is now competition which enables you to have more time to look at homes available. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market. If you are looking for great homes for sale in Denver, we can help you.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's historic low-interest rates.

To download or see a copy of the full report, click here.

Posted in Market Updates