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Best Time to List your Home is….

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Home in Wash Park

This story ran in the Denver Post last week and is based on a report from Zillow. They report that in the Denver metro area that the best time to list your home for sale is May 1st-15th as sellers will make 1.1% more on average. I am not so sure about this or how Zillow came to this conclusion. I know last year both median and average sale prices peaked in April. Second, Your Castle Real Estate’s Showings Chart reveals that the number of showings per home maxes out in March or April. Third, usually in May or June the number of new listings peaks.  So, if you are selling your home you want to list (financially anyway) when there are fewer new listings to compete with and when there are more showings per listing. Thus, I would probably list mid-March to mid-April.

(Article courtesy of Lonnie Glessner of Nova Home Loans)

Real Estate Market Tighter

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As of January 4th, 72% of the single family detached homes priced under $460k were under contract!!!  For homes priced under $350k, 79% of them are under contract! WOW!!!  Our market only continues to get tighter and tighter. Thus, prices can only go up, up, up!
If the Real Estate market was a Super Market here is an analogy for what a super market would look like…..imagine walking into King Soopers and 79% or 4/5 of the aisles are closed off because the stores’ shelves are bare. Basically, only the ends of the stores have anything to sell. Thus, only the bakery, the butcher and the produce sections are open. If you want soup, cereal, pasta, frozen food, condiments, milk, butter, cookies, chips, paper towels, etc. the store is out of inventory and there is no ETA for delivery by truck of any of these items. That’s what our real estate market is like.
(by: Lonnie Glessner)

First ‐ Time Homebuyer Savings Accounts

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First Time Homebuyer Savings Account Act recently passed the Legislature after the State Senate gave the bill it’s final approval.   Prospective Colorado first time homebuyers, and the State, will benefit by their great work.

abstract 3d illustration of house on money stack, over white background

A First-time Homebuyer Savings Account (FHSA) allows any Coloradan to set aside up to $50,000 toward the costs of purchasing a new home. The earnings on those funds — interest and capital gains — are free from Colorado state taxes forever. FHSAs are a great way for future homeowners to start saving early for the costs of buying a home. These accounts will be simple and easy to set up. Not only can you open a new one, you can also transfer money from one existing savings account to a FHSA.

For more information please see Frequently Asked Questions

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#1 Best Home Improvement Project for Home Value

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New Kitchen Remodel

I was out to lunch with a friend today (Thanks for going to lunch with me! & do you recognize that old microwave you gave me) She asked me what was the best project to tackle for her that will give her the most return on investment.  She told me about several projects she was … Read more

To Refinish or Replace

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I have been doing home improvement for sometime on my current place and other places I have lived. The question I was asking myself on this particular project was should I update and replace my bathroom vanity or try to refurbish it. It is a larger size vanity so I have decided for the time … Read more