THANK YOU. I want to personally thank you, as a prospective Metro Denver real estate buyer or seller, for using my website to hopefully achieve some of your real estate goals. As the co-owner of Sterling Real Estate, I work tirelessly to provide my clients with a level of service that goes well beyond their expectations. Besides being the Top Producer in Sales within the office, I also take the time to provide instruction and guidance to the many agents who work at Sterling. I am familiar with nearly every community throughout the Denver Metro area, whether it be Aurora, Littleton, Commerce City, Parker or Highlands Ranch. My many years of experience in the real estate industry, provide me with the knowledge and expertise to effectively represent any home buyer or seller throughout the entire real estate process.
Denver Colorado Home Trends
Seller Trends: The number of Active Listings for both attached and detached homes, in the Denver metro area reached a record low at the end of February. There were only 3,963 active listings, which is down 6% from January and 2.8% from February of 2015. These are the lowest inventory levels since they started tracking the market back in 1985. However, what really hits home is that there are now twice as many residents living in the Metro area. There were 100,000 new residents that moved into the state in 2015, with 80,000 of those moving into the Denver Metro area. So the competition for homes remains extremely tight and unless there is a substantial increase in home inventory this Spring, Buyers will have trouble finding a suitable property and even more difficulty in simply getting their offers accepted.
Throughout last year, even with low inventory levels, the monthly sales numbers continued to increase. However, the February numbers show a change in this trend, with sales figures down 6.99% from the month before and 10.3% year over year. However, prices for both single family homes and condos are continuing to rise with the average sales price increasing to $377,917 which is 9.04% over February of 2015. The average sales price for single family homes has increased to $417,734, while the median price is $361,500. Those prices reflect an increase of 8.10% and 9.71% respectively . The average sold price for condos is up 16.05% year over year and is $287,703, with the median price sitting at $227,000. Days on market has trended up, but if you have your home professionally cleaned, staged and marketed aggressively, you can expect to receive top dollar, plus a quick sale. When pricing your home, you want to make sure to keep up with the rising prices, but not price it too high, or there is a chance your home will not sell. Make sure you hire a licensed Realtor who is familiar with the market and with your specific area to make your real estate experience a positive one.
Still some good news for Buyers: The good news for Buyers is that interest rates continue to hover at historically low rates. If you have a decent credit score, interest rates are still below 4.0% for both Conventional and FHA financing and those rates are expected to stay pretty steady through March of 2016. However, as a buyer, you will need to act quickly if you see a home that you really like. Since inventory is so tight, the days of 5-10 offers, all over asking are again typical, even before the Spring selling season starts. The competition for condos and townhomes, under $250,000 is really crazy, but if you can get into a place, your total payment should be less than rent. The new lending laws that went into affect on October 3, 2015, had agents scheduling closings about 45 days out. However, as both lenders and title companies start to get more familiar with the changes, closings are starting to get scheduled closer to the typical 30 days. If you have a closing date in mind, you may want to start looking 75-90 days out from your anticipated closing date, in order to get into your new home as planned.
SELLER REPRESENTATION. I love selling homes. I enjoy preparing a home and getting it ready to sell quickly and for the best possible price. My "Sterling Service Guaranty" includes items such as professional staging, an in-depth market analysis, color flyers, virtual tours, open house campaigns, Showcased Listings on Realtor.com, just to name a few. I also can provide you with names of reliable and competent vendors, for those remodeling jobs that may need to get done, or even small ones, you simply don't want to do yourself. Another part of my service, that sets me apart from so many others, is that I make sure the home is professionally cleaned prior to putting it on the market, as well as once you've moved out, so you can just think about the exciting move ahead of you!
BUYER REPRESENTATION. My goal is to provide my buyers with friendly, knowledgeable and personal service. Whether you are interested in purchasing a HUD home, a foreclosure or short sale, a newly constructed home or a traditionally marketed home, I can help. My experience provides me with a comprehensive understanding of the various neighborhoods and the market conditions within those areas. I can then knowledgeably relay that inside information to my buyers, making their buying experience a pleasant and informative one.
SELF-DIRECTED IRA'S. Besides owning several rental properties personally in my IRA and using my IRA to purchase homes that I "fixed and flipped", I have also represented numerous clients with the purchase of property through their Self-Directed IRA's. Using the funds out of your IRA to purchase either rental properties or fix and flips is an investment strategy that not many people know about. The reason is simple, most brokerage houses, bankers, financial planners, etc., are not allowed to perform these transactions, so are not informing their clients of this opportunity. To take advantage of this tax deferred investment, there are numerous guidelines that must be adhered to. I have experienced first hand what needs to be done as both a buyer, seller and Realtor. If you are tired of the risk involved in the stock market or the nearly non-existent interest earned in CD's, owning real estate through your self-directed IRA can be a fabulous investment alternative. Please feel free to contact me to see how this can benefit you and how my relationships with general contractors, property management companies and New Direction IRA. Inc., a local leading provider of Self Directed IRA's since 2003 can make this a simple and successful investment for you. Please feel free to call or email me for additional information, or click on this link at: http://www.newdirectionira.com to learn more about self-directed IRA's and to find out when their next webinar will be offered.
STERLING REAL ESTATE GROUP is an independently owned real estate firm located in Lakewood, Colorado. I, along with many of the other Sterling real estate brokers, bring years of experience in real estate, business and customer service. Our focus is on the purchase and sale of residential and investment (fix & flip) properties as well as guiding investors through the process of purchasing properties through their self-directed IRA's. As the owner of Sterling Real Estate, my goal is simple: To provide superior service to my clients while promoting a positive atmosphere for the agents associated with Sterling Real Estate.
SPECTRA MORTGAGE. Besides having a competent real estate agent to help guide you through the home buying process, the next most important person throughout the transaction is a lender. Spectra Mortgage is a highly specialized boutique firm that was founded with the philosophy that a mortgage company should provide sound financial advice in the area of mortgage financing and that the people providing this service should be professionals. They believe that the key attributes that distinguish Spectra Mortgage from the others are Financial Expertise, Integrity, and Service. Founded by Wayne Tucker, CPA, Spectra Mortgage originates loans and provides mortgage services throughout Colorado. For additional information check out their website at: www.spectramortgage.com.