Just like the sound of a powerful M-80 firecracker bursting over the skies Fourth of July weekend, Denver's real estate market exploded with a flurry of new listings and ended the month with a dazzling display of active inventory! Make sure to check out the July DMAR Market Trends Report http://www.dmarealtors.com/sites/default/files/content/dmar_market_trends_report_july_2016.pdf
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DMAR Market Trends Report
One thing I really love about the summer weather is the chance to get outside to get my workout in. During the winter, the gym can get a bit tiring after a while and it can get harder and harder as the cold days drag on to get motivated to keep a good workout program. But when the warm weather hits, it’s like a hibernation over the city lifts and you see all of these people outside exercising from running Red Rocks to biking on the Cherry Creek bike path. People are more excited to get out and run with the sun, to find new activities where they can get their exercise in for the day but also enjoy the beauty that is the Colorado outdoors.
One thing I have discovered is SUP, which stands for Stand-Up Paddling boarding. This is an amazing workout where you stand on a paddleboard and use your core to hold yourself still as you paddle around the water. This type of activity has been popular for a few years now but I recently discovered that some people have taken it to a new level and added yoga to the mix. Colorado is known as a haven for Yogis and this is a way to push your yoga skills to the next level.
Huffington Post wrote an article about the some of the top reasons you should try yoga on a SUP:
1. It’s a better workout – Because you are not on a stable floor, you are going to really have to engage your core to keep you stable as you move through the water.
2. It will refine your technique: This will help you feel if you are balanced on each side of your body when you do your poses.
3. It’s more calming: We know as a young child that floating can make you feel weightless and the same is true for this which gives you the feeling of floating to help lift any heaviness.
4. It’s empowering: This might be as close as many of us get to actually walking on water and this really pushed participants to focus on their poses and more importantly themselves.
5. It teaches you to get back up: There is a high chance you will fall off, more than once, but if you do, it is up to you to get yourself back on your board and find your balance again. It helps ease the fear of falling from your poses.
6. It’s beautiful: Like I said before, would you rather workout in a gym or find yourself floating on a beautiful Colorado lake at sunset watching the sun set behind the Rockies as you strike into your downward dog pose?
Below is a list of some places you can check out if you want to give yourself a challenge this summer in the yoga department:
· Soda Lakes, Morrison CO
· Chatfield State Park, Littleton CO
· Union Reservoir, Longmont CO
· Maggie Pond, Breckenridge CO
· Dillon Marina, Dillon CO
Get out and enjoy your summer workouts this year!
There’s no denying that many home buyers in Denver are all discovering there appears to be fewer and fewer houses on the market these days. While the demand is quite high in this seller’s market, the inventory continues to drop. In May, which is just the start of the big summer selling season, the inventory for homes for sale in metro Denver fell by 3.4% to 5,463. While this happened, the prices for the average home including condominiums and single-family detached homes, reached a new peak of over $400K, an increase of almost 9% over the last year.
While builders are pulling more permits to try and keep up with the demand, many of the homes they are building are in the higher price ranges leaving the market for lower price ranges even harder to get into. Many people are trying to get into the market and make first-time homebuyers are finding it harder to find a home within their price range. And with such a competitive market, it can be discouraging to keep making offers on homes when buyers know there is a chance for there to be 20 other offers on the table.
As a Realtor, I hear these stories all the time from my buyers. They are scared to get into the market, they think it is impossible to get a house they like in an area they want, they are afraid they will have to give up a lot to please the seller or that they have tried to find a home before and it ended up being so disheartening they stopped for a while waiting for the market to “slow down”. I hear all of these frustrations when I meet with buyers and from our first meeting I let it be known that one of the reasons they are sitting in front of me is because they are serious about buying and they have come to me to be their front-of-the-lines person.
As a certified Realtor, I continue to educate myself on the market, the trends, best methods and laws so that I can be the best for my clients. It is imperative when looking for someone to represent you, you find someone with certified training who has your best interests at heart. Personally I make a guarantee that I will be there every step of the way during the process and I am available all the time for when my clients have questions or concerns. Buying a home is the biggest decision of many people’s lives and they need someone they can trust more than anything. I am trustworthy and confident in my ability to perform as a Realtor and as a negotiator when things get tough. I have my MCNE designation for negotiating which sets me apart from many other realtors.
I understand how daunting buying a home can be and I would love to help you see the process does not have to be that way. Give me a call or email today and let’s grab coffee and discuss what you want in a Realtor, what I can do for you and how we can go about finding you the home of your dreams.
Today’s real estate market is booming in Denver, there is no denying that and everywhere you go people are talking about it. But with a booming market comes challenges and with challenges comes frustrations and with frustrations comes disappointment. We are in a seller’s market right now meaning that sellers have more power when it comes to selling their home. Buyer’s, on the other hand, have a much harder time when it comes to finding a home they love and not having 15 other offers on the table to compete with. I ask my clients one very important question when we start working together and that is this: Are you prepared to be in the real estate market today?
I’m not asking that question to scare anyone away or to make people reconsider their desire to buy/sell a house, I am saying it to let my clients know they need to be super realistic when they enter the market, especially my buyers. I want them to be ready to not get the first house they fall in love with, or the second or the third. I want sellers to be prepared for when they accept what they think is the perfect offer, there’s a 25% chance something will happen and the contract will fall through. I want buyer’s to understand that even if they offer $30k over the asking price that isn’t a guarantee they will win the home.
Currently in Denver there are a few big things going on that make this real estate market challenging. The first would be a historic low inventory of homes on the market and especially homes in the right price range. Denver has people moving here daily and we are having a hard time keeping up with the demand from buyers. That’s another big issue, the buyer demand is so high and especially for homes that are in the $300-$400k range which is the place all first time homebuyers are landing as well as many others. For anyone looking in that price range I always tell them, it will be a battle but I will fight for you the whole way and make sure everything is right and held up on my end to get you the home you want. Another issue is that houses just are not being able to be built fast enough. You may drive around and see a lot of scrapes and new builds but many people want to live around the city and the home range just isn’t there for the demand.
Because it is a sellers market, many sellers put their homes on the market on a Thursday or Friday with a deadline for contracts by Sunday night leaving buyers feeling rushed and overwhelmed. Buyers are also frustrated with high demands by sellers like opting out of inspection and appraisal contingencies which leaves the buyer with less protection should something be found wrong.
All of these stresses can add up to people pulling themselves out of the real estate market hoping that things will eventually die down. I hate to say it but with the rate at which Denver is going, that is never going to be a case here. We may level out of course but slowing down is not in the books. The best suggestion I can give to buyers and sellers is do your research before you decide to buy or sell your place. Understand the realities of today’s market, invest time and energy into knowing what could happen and the biggest thing, hire yourself a really good realtor who knows the market. A realtor can be your best friend through the process and is really there to handle all of the ups and downs. If you are thinking about getting into the market, go ahead and give me a call, I would love to set up some time to sit down and discuss what your wants and needs are and how I can help attain those.