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DMAR Real Estate Market Trends Report | January '17  

2016 marks record-high home prices, record-high sales volume and record-low housing inventory in metro Denver. 

As 2016 has drawn to a close, the report identifies highs and lows in the housing market last year and how it compared to previous years. 

"2016 will go down as another robust market defined by record-low inventories and record-high prices," states Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver real estate agent.

Read more... 

To view the entire report, click here...

We've Moved!

2500 East 6th Avenue, Denver Colorado 80206 | Cherry Creek

Stop by and visit us at our convenient new location at the southeast corner of 6th and Columbine.

Just blocks from Cherry Creek North with plenty of free parking.

How to Make Money the Next Time You Move

If you're selling your house, whether it's a home for sale in Jacksonville, FL, or Colorado Springs, CO, you probably want to make as much of a profit as possible. But how to do that is not always obvious. Besides pricing your home just right --- not so high as to scare away buyers and not too low as to cheat yourself out of some dough --- there are some other considerations for making money that might not be on your radar. Read on for seven ways to make money the next time you move, via Forbes.

Mortgage Advise

Is a Low Price or Low Interest Rate Better?

Right now, buyers have the best of both worlds – home prices are beginning to slow down for the season and mortgage interest rates are near record lows. So should you wait for prices to go lower or take advantage of low interest rates right now?

The price of a home is fixed, so home prices have to drop significantly to beat a minor fluctuation in mortgage interest rates. Here are some numbers to consider:

  • If you buy a home at $400,000 with 10 Percent down ($360,000) and a 30-year, fixed-rate mortgage at 3.5%, your monthly payment will be $1,617. If you keep the mortgage for the entire term, you’ll pay $221,962 in interest.
  • The same home at 4% interest costs $1,719, a difference of $102 more per month and $258,730 in interest over the life of the loan. The difference in interest payments alone is $36,768.
  • If you’re able to buy the home you want for five percent less ($380,000 less 10 percent down) and 3.5% interest, your payment would be $1,536, $81 less per month than in example one.
  • You’re able to buy the home for $380,000, but in the meanwhile, mortgage rates go to 5%. Your monthly payment is $1,633, $97 more per month than if you’d purchased at 3.5 percent.

Clearly, higher interest rates cost you more monthly, but getting a better deal on a home is nearly just as good. Take advantage of slowing prices and low interest rates while they’re both available. Happy home hunting!

Homeowners' Advise

All About Wood Floors

Hardwood floors never seem to go out of style – their beauty and durability is appreciated by generation after generation of homeowners. So if you’re planning to install wood floors, you’ll want some basic information in order to choose wisely.

According to Hardwoodinfo.com, hardwoods are “deciduous trees that have broad leaves, produce a fruit or a nut, and generally go dormant in the winter. Popular hardwoods include oak, ash, cherry, and maple.

Softwoods, says the site, are conifers, evergreen and cone-bearing trees including cedar, pine, and redwood. Softwoods are generally used for behind the scenes construction lumber, while the beauty of hardwood grains make them preferable for display purposes, such as in cabinets and flooring.

Sometimes older homes feature pine floors, and cedar is often used to line storage closets, but generally, hardwoods are preferred for high traffic areas like living rooms and dining rooms.

If you’re buying wood floors, you can get them unfinished, and they’ll be sanded, stained and polished on site, or you can buy pre-finished hardwoods. You can also buy engineered hardwood floors, in which several thin layers have been bonded together in planks for easy installation and water resistance.

Caring for hardwoods and softwoods is easy – use only cleansers that are recommended for wood. Keep floors swept often, as dirt, grit and debris carried by shoes can scratch and penetrate the wood. Avoid wearing heels on hardwood floors and put furniture protectors under furniture legs if there is no carpeting.

Perri Hope

Broker Associate
perri@denverhomegirl.com
303-877-8576
www.denverhomegirl.com

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2500 E. 6th Ave. Ste. A Denver, CO 80206

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