Click here to view online with images.
 
 

FRONT RANGE

July 2019

 
 

Real Estate Market Trends Report | July '19

Denver Metro Association of Realtors

With metro-Denver housing inventory at its highest level since October 2013 and interest rates still low, now is a good time for homebuyers. On the flip side, with home prices peaking now is  also a good time for home sellers; making a more balanced market.    

Read more... 

To view and download the entire report, click here...

 
Boulder News
 

Report: Boulder County Housing Market Experiencing 'Much-Needed Correction"

Boulder Camera

More listings on the market, lower median prices in June vs. last year.

Housing markets around the state are beginning to cool down, and Boulder County is no exception, according to the latest monthly market statistical report from the Colorado Association of Realtors. 

Read the full article here.

 
Buyers and Sellers' ADVICE
 

Understanding Buyer's and Seller's Markets 

While any time is a great time to buy or sell a home, knowing whether market conditions favor buyers or sellers will help you to improve your own position and to navigate your transaction more easily.  

A seller’s market takes place when financial conditions are positive. New employers are coming to town, there are plenty of jobs, workers are receiving bonuses and raises, and there’s a general sense of optimism that encourages people to buy their first home or move up to a bigger, better home. This creates demand for homes, higher home prices and often a shortage of available homes for sale. Homes don’t last long on the market, and soon, there are shortages for entry-level homes and other price points.

A buyer’s market reflects a receding economy. Employers stop hiring and salaries stagnate. If major employers exit the market, workers have trouble finding other employment. Confidence wanes, and sellers find that there’s less demand for their homes. Soon, inventories of homes for sale increase, bringing prices lower. A buyer’s market means buyers are cautious and expect sellers to sweeten the pot by presenting updated homes in premium condition.

Buyer’s and seller’s markets can be as localized as a single street within a neighborhood, a zip code, or a suburb. It’s all about the economy’s impact on demand.

Are you in a buyer’s or seller’s market? If you’re not sure, your Berkshire Hathaway HomeServices network professional can show you the sales trends for your area and price range.

 

Moving with Pets

Moving from one end of town to another, or across the country, can be as challenging for your pets as for the rest of the family. Preparation and patience can help your dog, rabbit, bird or cat adjust more easily to its new home.

Tell your veterinarian. Your pet’s medical records and microchip data can easily be updated with your new address, but if you’re moving out of the area, ask your vet to forward this information to your new veterinarian.

Manage stress. Think about your pet’s stress levels as well as your own, as it can be alarmed by changes in routine. A squawking parrot, nosy cat or clingy puppy can lead to frayed nerves and possible accidents if they’re underfoot. The best solution is to board your pet for moving day.  

Include pets on outings to the new home. Before move-in, you can visit your new home for the bank appraisal, home inspection, and final walkthrough. Take your dog along, if it’s well behaved, and let the pet have a nice sniff around the property. Take his water bowl and set it in its planned future location and let your pet have a cool drink. It will help accustom the pet to the new home a little more quickly.

Take time to play. Remember to cuddle, play and talk to the pet as usual. Let the cat jump in empty boxes, toss the ball for your dog, and bring your bird to a perch in the room you’re packing.

 

Six Tips for Better Listing Photos

A recent National Association of REALTORS Profile of Home Buyers and Sellers found that 89% of homebuyers who searched for a home online found photos to be among the most useful features of real estate websites. That’s why many home sellers hire professional photographers. Whether or not you use a pro, here are six tips for better results. 

Stage the shoot. Photographers aren’t movers or house cleaners, so it’s up to you to get your home close-up ready. Move the car and kids’ toys out of sight. Power-wash the front and sweep the walk and porch. Mow, prune and weed the yard.

Notice details. The camera captures everything in its view in equal detail, so look out for random coffee cups, crooked wall art, and cluttered surfaces and straighten your walk-in closet to ensure personal effects are out of sight.

Make it sparkling clean. Make your floors gleam. Wipe fingerprints and grease from your appliances so they look showroom-new. Clean the carpets and polish the furniture.

Amp up the lighting. Pick a sunny day for the shoot. Open the shutters, blinds and curtains. Install fresh lightbulbs, clean ceiling fixtures and turn on the lights.

Accent special features. Some of your home’s features can’t be duplicated easily, so celebrate the built-in bookcases, mullion windows and window seats, too. Also, include shots of any improvements or updates.

Pretend you’re the buyer. What do you see? Hopefully, fresh paint on the front door and a new welcome mat. Inside, your home should flow from room to room, so remove excess furniture, bric-a-brac, and personal items.

 
Financial Advice
 

Appraisals Can Protect Buyers, Sellers and Lenders

Seeing something with one’s own eyes is the best way to make an evaluation. That’s the purpose of bank appraisals, which are designed to protect banks from over lending, homebuyers from over-borrowing, and home sellers from overpricing their homes.  

Once the purchase offer is accepted by the seller, the homebuyer’s lender orders an appraisal of the seller’s home to determine the home’s true market value based on location, quality of materials, featured amenities and other criteria.

The property’s condition also impacts value, so sellers are often advised to order an appraisal before putting their homes on the market to help them determine a reasonable asking price. To make sure the home evaluation is as high as possible, sellers are advised to clean the home, repair anything that’s damaged, such as a gate latch or dripping faucet, and to improve the home with fresh paint, new surfaces such as countertops, or whatever makes the home look tired and dated.

When the appraiser arrives, the seller is expected to be on hand to answer questions. The appraiser will be armed with “comparables,” which are similar homes in size and location that are on the market or have recently sold. This is the seller’s opportunity to tell the appraiser about new updates, new features and amenities in the neighborhood that make the home more attractive, such as nearby parks and public transportation.

Share the appraisal results with your Berkshire Hathaway HomeServices network professional to move forward with a more informed selling or buying strategy.

 
Featured Office Listings
 

2075 Elm Street| PARK HILL

BACK on the MARKET $1,490,000

  • 4 Bedrooms
  • 6 Bathrooms
  • 12,500 Square Foot Lot
  • Pristine, historic and charming
 

16289 W 84th Drive | LEYDEN RANCH *Price Improvement! $759,500

  • 7 Bedrooms
  • 5 Bathrooms
  • 5,000+ Finished Square Feet
 

225 N Millbrook | AURORA $440,000

  • 4 Bedrooms
  • 4 Bathrooms
  • New Wood Floors
 

618 S Gilpin | DENVER

$965,000

  • 3 Bedrooms
  • 3 Bathrooms
  • 1 Block to Wash Park
 
 

Click Images for More Information 

 
In Colorado This Month
 

Click to View Events

 
Monthly Tips and Recipes
 

.

 

Click for Recipe

 
Active Listings
 
 
Download the Mobile App
 

Download our app today and search to view all active and sold listings in the Denver area.

 
Kelly Elizabeth Westergren
Broker Associate, Realtor, CRS
Kelly@KellyWestergren.com
303-883-4913
www.kellywestergren.com
Visit me on LinkedIn
 
Share this with someone:


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

©2020 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.