real estate market: Understanding the Real Estate Market By Marc Bayes
- 12/12/14 03:37 AM
It is hard for many people to conceptualize what the real estate market is. It is like trying to describe in words what the Internet is or what space is. The market for home sales can be quite difficult to understand. Hopefully, this article can help give more insight in understanding the real estate market.
Instead of thinking about “the market” as something intangible think of it as Ikea. Imagine that the market as an actual place you can enter into that is massive in size. Within this market is every house for sale in your state; from the far reaches of the corner … (0 comments)
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real estate market: What We've Learned From 2014 Real Estate Market. What's Next? By Dan Polimino
- 12/08/14 12:27 AM
Hard to believe 2014 will be over in three weeks. I hate to use the cliché that the year “flew by” but it really did. What is it that we learned from the 2014 Real Estate market?
Here’s my take on the 2014 real estate market and what's next: I believe when the final numbers come we will surpass last years record for the number of sales of 54,000 plus. No doubt it was good year for everyone involved in the Real Estate Industry. I predict we will end the year at about a 6% appreciation for all homes in all … (15 comments)
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real estate market: House Didn’t Sell This Summer? Here Comes Your Second Chance By Dan Polimino
- 07/29/14 05:48 AM
Over the years, you have heard me say that the best time to sell a home in Colorado is from April through July. In fact, if you look at 2013 as an example, there were 54,000 plus homes and condos that were sold in Denver and surrounding suburbs for the entire year. Of the 54K, 47% were sold between April 1 and July 31.
Fast forward to today and let’s just say you had a busy summer. Traveling, kids’ camps, backyard BBQ’s, and day trips all had your time occupied. You wanted to maybe sell your home, but the timing wasn’t right. Did … (1 comments)
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real estate market: You Are Still Missing The Double Whammy By Dan Polimino
- 07/07/14 07:18 AM
It’s been a well-known seller’s market for some time now in Denver. Even builders have buyers over a barrel since there is so little re-sale inventory. This is much to the dismay of many buyers in the market.
I have heard this many times before from buyers, “Dan, I feel like I am buying at the top of the market.” Maybe it’s not quite yet the top of the market, but certainly soon. It is true that home prices are higher now than back at the peak in 2006. If your plan is to wait until home prices come down, I don’t think that’s … (0 comments)
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real estate market: The Right Real Estate Agent By Marc Bayes
- 06/04/14 01:33 AM
Choosing the right real estate agent can be pretty difficult if you think about it. Typically speaking not much thought is put into picking the agent you choose to work with. In fact if effort is put forth in choosing the right real estate agent to sell your home, even less effort is put forth in choosing the agent to help you find your new home.
Right now in the major cities of Colorado there are 6,128 homes for sale. On average a person knows at least 3 real estate agents. Now, there are 16,000 real estate agents in Colorado. That means … (1 comments)
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real estate market: Assumable Loans Are Back. By Dan Polimino.
- 12/16/13 07:57 PM
I am amazed that I have a mortgage with less of an interest rate than what my parents paid for our home in 1968. What really blew me away was when my lender told me that my loan was assumable. I thought assumable loans were a thing of the past, but FHA loans are assumable, and now some conventional loans are as well.
The assumable loan was almost a must for homebuyers in the late 70’s and early 80’s when interest rates climbed to 16% and higher. When a seller had an assumable loan, they definitely had an advantage over a seller that did not. For those … (0 comments)
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real estate market: Winter Real Estate. By Marc Bayes.
- 12/03/13 09:57 PM
Winter is coming. While it’s a great tag line for Game of Thrones it’s also an inevitable reality for us in Colorado. With winter comes the second selling season for real estate and with snow in the air it’s right around the corner. I wanted to lay out expectations for both buyers and sellers as we move into the colder snowy months of real estate.
Winter real estate comes with ups and downs just like any other season. The first big expectation for buyers to have is an extreme lack of inventory. We’ve already experienced a lack of inventory over the last two years but … (0 comments)
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real estate market: D.I.S.C. By Dan Polimino.
- 08/19/13 10:41 PM
Chances are, if you own a business or were ever an employee, you may have been asked to take a personality assessment. As an owner of Keller Williams Realty DTC and a partner of The Colorado Dream House Team, we often have the new recruits take a D.I.S.C. (Dominance, Influence, Steadiness, Conscientiousness) assessment test. It‘s a quick personality test that will tell me a lot about how someone communicates. I also get to know their likes, dislikes, and how I might relate to him or her.
After a short series of questions, the test is scored and an individual will come … (0 comments)
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real estate market: Will There Be Balance Again In The Market? By Dan Polimino.
- 07/22/13 11:16 PM
At the beginning of the month, I wrote an article about the S&P/Case Shiller numbers that were released at the end of June. The data showed a robust real estate market for the nation and Denver. In fact, the market started to turn into the sellers’ advantage about 24 months ago. The question is: how long will it stay this way? Four years ago, it was a buyers’ market. Now the pendulum has swung completely the other way to the sellers’ market. Will there be balance? To answer this question, let’s take a look at a few key issues.
1) Federal … (0 comments)
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real estate market: Knowing the Stats. By Marc Bayes.
- 07/16/13 10:19 PM
Every seller wants top dollar for their house and every buyer is looking for a deal. The problem is with this market the deals have pretty much gone to the waste side; there just aren’t any. Sure there’s the random home that sold for fifteen thousand under asking price or the seller who paid all the closing costs for the buyer. The truth is these are anomalies in this market and not the norm.
When you looking for a home it should have eighty to eighty-five percent of what you’re looking for. No home is going to be perfect. Working with … (1 comments)
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real estate market: What We Have Learned. By Dan Polimino and Gary Lohrman.
- 05/20/13 08:15 PM
By now, many of our real estate colleagues have seen the previous letter I wrote this month about our culture here at KW Luxury. Thank you for all of the kind emails, letters, and phone calls. We are excited that some of you will be joining our team. As we said in the first letter, we are convinced that we have something special going on here and we want you to be a part of it.
Today, we want to address the two biggest challenges that every real estate agent faces which are probably the greatest threats to their long-term well … (0 comments)
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real estate market: Love at First Site. By Dan Polimino.
- 04/15/13 09:08 PM
Love at first sight: it only happens in the movies, right? Some believe it, while some do not when it comes to finding a mate; but what about when it comes to finding a home?
Surely, in today’s real estate market, you would be foolish to buy the first home you see, right? Maybe not! There is no hard and fast rule about how many homes you need to see before making an offer. You could see three homes and find the exact one you are looking for then turn to your realtor and say, “I don’t need to see … (71 comments)
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real estate market: What Multiple Offers Mean. By Dan Polimino.
- 04/08/13 10:28 PM
There is no doubt that by now, if you have been following the news, you’re aware that the real estate market in Denver is now a seller’s market. What that means is that the demand for homes outweighs supply. This is super good news for sellers. Let’s face it: sellers have gotten the snot beaten out of them for the last four years. Those that had to sell probably took a heavy financial loss and when it came to inspection items, they were at the mercy of buyers.
They say that in life, “what goes around comes around.” Now the … (0 comments)
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real estate market: Unlimited Options with New Construction. By Marc Bayes.
- 02/26/13 10:39 PM
The most important thing people want to know with new construction is what options they have in terms of customizing their home. With today’s real estate market and buyers being very well aware of the updates resale homes are seeing they want to see these updates as standard features with new construction. In terms of what you can do it’s nearly unlimited.
If you’re doing new construction in the 200-300k range the average options people choose range from 10-35% of the base price of the home. New construction from mid 400’s and up tend to see updates not exceeding 8% … (0 comments)
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real estate market: Denver Home Buying Tips
- 01/16/13 04:16 PM
We live in a stress filled world whether it’s at the office, home, kids, family, community, you name it and there’s bound to be some level of stress. Buying a home is no different and since it’s a different kind of stress than the norm and it can definitely take a toll on you. Here are some quick tips on how to reduce and even eliminate the stress of buying your next home.
Make sure you trust your Realtor! You need to trust that they are the professional and you’re working with them for a reason. Let them do their … (1 comments)
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real estate market: HUD Home Purchases in 2013
- 01/16/13 03:18 PM
While the days of getting a house at a steal of a price might be gone it doesn’t mean there aren’t opportunities for home buyers today. Ever hear of a HUD home? HUD stands for (Department of) Housing and Urban Development. These are homes owned and sold by the government. They work a little bit differently than your standard real estate transaction and I’m going to show you the ropes of HUD’s.
HUD’s work on a bidding system versus offer system and owner occupants get first shot at a HUD before an investor. In a standard real estate transaction you write an offer … (1 comments)
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real estate market: Did You Notice the New Housing Starts? By Dan Polimino.
- 11/12/12 06:33 PM
In the midst of the election, all the ads, statistics and campaigns, there was a piece of news that got a headline one day and then went completely unnoticed. This was the news about the new housing starts, building permits, and housing completions.
In case you did not hear the stats for September, it looked like this from the US Census Bureau:
1) Building permits were up 6 percent from August for single family homes. All building permits were up by 45% from the same time period in 2011.
2) Single Family housing starts were 11% better than the previous … (0 comments)
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real estate market: It’s Getting Better All Over. By Dan Polimino.
- 10/15/12 06:17 PM
I recently came back from the annual Keller Williams conference held last month in Austin, Texas. I was very interested to find out how other agents and teams were doing in all other parts of the country. Going in, I was under the impression that Colorado was a bit of an anomaly. Denver was being touted as the number one real estate market in the country by Money Magazine, MSN, and Fox News so I maybe I wasn’t aware of how bad it was across the rest of the country. I would hear stories from people relocating to Denver and they … (1 comments)
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real estate market: The Bank Vs. Credit Union Wars. By Dan Polimino.
- 10/01/12 05:58 PM
If you hadn’t noticed, there is a groundswell of people becoming very anti-banking these days. Who could blame them? The banks are very financially healthy right now while average Americans are not. Ambitious people want to make a better life, but in most cases can’t get the financial help they need from their local banks. In steps the credit union.
Credit Unions have been around for a long time, but within the last few years, they have taken larger market share away from banks. This has not gone un-noticed and banks are fighting back. In fact, it’s really become an all … (0 comments)
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real estate market: Will the President Affect our Real Estate Market. By Dan Polimino.
- 09/24/12 07:13 PM
We are just five weeks away from another Presidential election. So how does that impact the real estate market? Typically, the real estate market tends to slow down in an election year, usually as you get closer to the actual date. I think that you can take that conventional wisdom and throw it out of the window this year because there has been nothing typical about this year’s real estate market. Here is what I mean:
1) I did not predict that the market would turn around this fast in Denver, but it did.
2) I did not think inventory would … (1 comments)
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It is hard for many people to conceptualize what the real estate market is. It is like trying to describe in words what the Internet is or what space is. The market for home sales can be quite difficult to understand. Hopefully, this article can help give more insight in understanding the real estate market.
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