home buyers: Buyer Desperation By Marc Bayes
- 03/17/15 02:34 AM
Last week I talked about the impending interest rate hike that might take place as early as June. This week I wanted to talk a bit about what the aftermath of that will look like in our market which will lead to what I call buyer desperation. Many of you may even think you’ve seen desperate buyers, but I promise you, you have not.
Buyer desperation is when buyers write offer after offer and fail to win. This happens sometimes when buyers are not presenting strong offers or if their terms are unreasonable. A buyer will have to experience this a few times … (1 comments)
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home buyers: Inspections On New Construction By Dan Polimino
- 10/02/14 06:44 AM
It’s one of those frequently asked questions: “Should I get an inspection on a newly constructed home?” Great question and I usually tell my buyers that the answer is yes/no and I’ll explain why.
Yes To Inspections On New Construction You see, most builders offer a one-year bumper to bumper warranty on the home that they just sold you. Moreover, during the due diligence process, buyers usually get a chance to do two walk-throughs with the warranty and service superintendent. The purpose of the first walk-through is to point out any defects, problems, or items that you think need to be fixed in … (0 comments)
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home buyers: Can You Really Afford This Home? By Marc Bayes
- 07/31/14 07:00 AM
Can you really afford this home? Here’s a question we, as Realtors, don’t ask our clients. It comes across pushy, demeaning, snotty, and rude. It’s a fair question though isn’t it? Can you really afford this home? It’s even open ended because it’s not just addressing the monthly payment it’s addressing the cost of home ownership.
In today’s market with interest rates at an all-time low the mindset is to buy and buy now. Don’t wait for interest rates to slide a point because you may be priced out of the market. Don’t wait because the price of homes will go up. The … (1 comments)
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home buyers: Buyer Loyalty By Marc Bayes
- 06/12/14 02:15 AM
Recently, I’d learned a very valuable lesson when it comes to working with buyers. Have a buyer agency agreement. For the first time in my career as a real estate agent, I lost a buyer and I have no recourse because I did not have a buyer’s agency agreement. The truth is, I like to run my business on the premise of buyer loyalty.
The buyers I lost I liked a lot. They were very nice people and I did really want to help them find a home. In fact, we were close to writing on a few homes as well. … (2 comments)
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home buyers: Honesty By Dan Polimino
- 06/03/14 07:54 AM
A friend of mine was on a business panel and he was asked the question, “As an employer, what is the number one characteristic you look for when hiring someone?”
He answered, “That’s easy… honesty!” Amen to that! I could not agree more. He went on to say that people can learn and be trained in their respective jobs, but honesty is a hard quality to find in people these days. In fact, when you do find an honest individual, you usually get the whole package. That person tends to be good at their job, on time, looks to succeed in … (1 comments)
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home buyers: Wheatlands Aurora Colorado By Marc Bayes
- 04/11/14 03:10 AM
The Wheatlands in Aurora, CO is one of the most sought after communities for new construction. This community offers larger homes for a good sized family with great finishes, so you don’t feel as though you’re in a starter home. Here are some of the reasons why the Wheatlands community in Aurora could be perfect for you.
The neighborhood borders Southlands Mall to the west where you can tackle any and all of your shopping. Just west of the Mall is E-470 which grants you highway access to the Denver Technological Center, Parker, Denver, and the Denver International Airport. To the east is the Aurora Reservoir which is perfect … (0 comments)
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home buyers: Top 5 Expert Predictions for 2014. By Michele Lerner.
- 01/27/14 09:42 PM
The U.S. real estate market made a robust comeback in 2013, surpassing expectations of many economists, as the combination of low inventories and historically low interest rates caused home prices to rise and even helped fuel bidding wars in some markets, surpassing the expectations of many economists. While positive trends, such as increasing home values, are expected to continue into 2014, mortgage rates are also expected to rise in the coming year and could put a damper on home buyers’ abilities to afford new homes.
For more information, check out http://smartdenverrealestate.com/expert-predictions-2014/
Start your Colorado Dream Home Search now!
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home buyers: Up & Coming Neighborhood in Denver: Conservatory Green. By Marc Bayes.
- 01/21/14 08:27 PM
I’ve had the pleasure of recently closing on a house in Stapleton’s Conservatory Green this week. My buyers had decided to go with Infinity Home Collection for the builders. Infinity Home Collection is a really interesting choice for a builder because it’s post-modern in design, but the neighborhood varies in styles of homes which really stands out.
Conservatory Green is the new development within Stapleton. Conservatory Green resides just north of I-70 and the Shops at North Field. This development has around 500 homes currently built, sold or spec’d out for building. Conservatory Green has a diverse amount of builders, just like … (0 comments)
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home buyers: New Home Furnishing. By Marc Bayes.
- 11/19/13 09:39 PM
Buyers are spending a fair amount of money in the first few years on new home furnishings. Essentially when a buyer purchases a home they want to make that home feel like home. So what do they do? They go on a spending spree on new home furnishings in the first two years to do just that.
According to the National Association of Home Builders’ Analysis of the Consumer Expenditure Survey home buyers are spending top dollar on new home furnishings once they take possession of the home. In fact the Home Builders Association says that a new home buyer that purchases new construction will … (0 comments)
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home buyers: Fix and Flips. By Marc Bayes.
- 11/12/13 08:48 PM
Did you know that fix and flip properties are on the rise? It’s next to impossible these days to view a home built in the early 1900’s and not see them completely gutted and remodeled. We’re talking hard wood floors that gleam, stainless steel appliances, new light fixtures, granite counter tops, updated bathrooms, finished basements, new carpet, new paint, new water heater and new furnace. Fix and flipstoday are providing buyers with some amazing possibilities for that new home feel but the sellers of these fix and flips are beginning to get burned by the market.
While the finishes in all these … (2 comments)
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home buyers: What’s the Plan to Sell Your Home in 2014? By Dan Polimino.
- 11/11/13 08:33 PM
The Holidays will be here before you know it. We will all be toasting eggnogs, opening presents, and returning that terrible sweater to the shopping mall before you know it. New Year’s Eve will be a blink of the eye and it’s Hello 2014. So what is a potential strategy for someone looking to sell his or her home in 2014? Here are a few ideas:
1) Wait until around January 15th before putting your home on the market. People have what I call the ‘Holiday Hangover’ for about two weeks after New Year’s Eve. The market will start to pick up again by around mid-January.
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home buyers: Open Houses. By Marc Bayes.
- 11/05/13 07:29 PM
Did you know that open houses actually work to sell a home? Manyhome owners today that put their house on the market are against open houses and for a variety of reasons. I want to put to bed some of those myths right here and right now.
I’ve been told that sellers don’t believe open houses actually bring buyers to their home. This is false. I was showing homes last month to friends of mine that mentioned they wanted to see an open house that was down the street and it was the first day the home was on the market. They loved … (0 comments)
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home buyers: Interest Rates Have Dropped. By Marc Bayes.
- 10/22/13 09:11 PM
It’s October and the interest rates have dropped to just 4.07% which is huge because they will probably never be this low again. Which I also know that that’s what every buyer has been hearing since the 2012, “They’ll never be this low ever again” yet so many buyers are waiting till 2014 to purchase when they have the ability to do so now.
October 14th, 2012 interest rates were as low as 3.27% which is a number so astounding it’s hard to wrap your head around it. Fast forward to October 3rd, 2013 and they are at 4.07%. Interest rates … (0 comments)
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home buyers: Denver Metro Mortgage Assistance Plus Program. By Marc Bayes.
- 09/24/13 09:17 PM
The hottest loan package in 2013 is the Denver Metro Mortgage Assistance Plus Program. This is loan program has evolved since last year and this year it comes with all the bells and whistles. When this program was originally introduced there were limitations on areas it would work and it was designed for first time home buyers only. Let’s talk about what exactly the Denver Metro Mortgage Assistance Plus Program can do for you.
The Denver Metro Mortgage Assistance Plus Program gives the buyer 4% of the loan amount as a grant towards their down payment and or closing costs. Since … (0 comments)
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home buyers: Online Home Search. By Marc Bayes.
- 09/10/13 11:03 PM
It’s September 11,2013 and you’ve decided today is the day you’ll being your online home search. You’ve dabbled with the idea of buying a new home but you’re ready to go online and see what homes are for sale right now. I’m writing this because as of 2013 online home searches are up 253% over the past four years and 90% of the people buying today begin their search online.
Twenty years ago no one would have thought of doing an online home search for their new home. Today it’s how people search for homes. Most buyers only rely upon the … (0 comments)
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home buyers: Hello Second Selling Season. By Dan Polimino.
- 09/09/13 08:33 PM
You have heard me say for years that the best time to sell a home in Colorado is between April 1st and July 31st. We call this the First Selling Season. The second best time to sell a home in Colorado is from September 15th though November 15th. If you did not get your home on the market this past summer, do not worry; your next best chance is only a week away. If you decide to put your home on the market, you may just be timing it perfectly.
I expect the August numbers to come out on the first … (0 comments)
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home buyers: 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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home buyers: The Eighty to Eighty-Five Rule. By Marc Bayes.
- 07/31/13 03:23 AM
Every buyer wants the perfect house. It doesn’t matter if it’s their first home or their fifth home. The only difference between both of those buyers is experience. Typically the buyer on their fifth home knows what to expect out of the home buying process where the first time home buyer still feels for the amount of money they are paying for a home it should come with one hundred percent of what they want.
First time home buyers in this market are quickly learning that if the home has eighty to eighty-five percent of what they are looking for they … (0 comments)
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home buyers: A Home Is More than Just a Commodity. By Marc Bayes.
- 07/24/13 08:00 PM
I’ll be the first one to admit that real estate is a business. Homes are my commodity. I wake up every day and put buyers into homes and help sellers sell their homes while also finding new buyers who want to purchase and new sellers who want to move. It’s a business through and through. However sometimes we can lose track that while homes are a product, once they are for sale they also have a story.
I recently had a closing where my sellers were very emotional at the closing table. They had just sold their home to a couple … (0 comments)
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home buyers: Buyers Tips in a Seller’s Market. By Marc Bayes.
- 06/18/13 07:05 PM
As my team’s lead buyer’s agent I work exclusively with buyers in the hopes of finding them their dream home. My buyers quickly become aware of how serious a market this is when they don’t get the house they really want. As their agent I advise them on the right course of action to get their dream house but sometimes it takes losing a home or two for buyers to really understand this market. Here are a few tips you can use in this market to win the house the first time instead of losing out on multiple homes.
When your … (3 comments)
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Last week I talked about the impending interest rate hike that might take place as early as June. This week I wanted to talk a bit about what the aftermath of that will look like in our market which will lead to what I call buyer desperation. Many of you may even think you’ve seen desperate buyers, but I promise you, you have not.
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