Joetta's Real Estate Newsletter for October, 2013

By
Real Estate Agent with The DiGiorgio Group
I hope all is well for you, and that as 2013 approaches its last few weeks, your household will experience love, joy, and much calmer weather than we've seen recently.

With all the tough times Americans are experiencing, I'm happy that I can bring good news your way.  The real estate market is definitely on the upswing all over the country!

Millions of Homeowners No Longer Underwater

For years, homeowners have been plagued by lower home values.  Whether the home was actually worth less than they owed on it, a lot of people didn't want to sell if they couldn't get what they paid.

 

In addition, most homeowners didn't want to put any money into a home that was underwater.  Unfortunately, that often included deferring common maintenance expenses.

 

But now, prices are going up.  Many people have refinanced and the lower rates are bringing their principle down.  So I would like to take this opportunity to encourage you, if you think you might want to sell in the next few months, it is time to catch up on those deferred maintenance tasks.

 

For more info, please read my post (linked below): Inspectors Will Find it When You Sell, Why Not Fix it Now?

 

And by the way - if you're wondering what expenses would actually pay off, give me a call.  If not me, at least be sure you speak to someone who is active in your area, and in your price range. 

Is Winter a Good Time to Sell a House in Colorado?
I bet you're thinking, "Oh sure - ask a real estate agent if it's a good time to sell a house, and they ALWAYS say yes!"  And you're right, I do believe that whatever time is right for you, is the right time to put your house on the market.

But the answer to this question is personal for me - I have a rental house that I was planning to hold on to until spring, when the market picks up.  Instead, I'm now planning to put it on the market sooner, because the buyers are still frantic in that price range.  I don't believe winter is going to be any hindrance at all.

Sure, the house might be worth more in a few months.  But, if interest rates take a big jump, the buyer pool will dry up and that will change the entire prognosis.

What I want you to know is that winter 2013 is different from past years - the local market is staying pretty hot.  There is some slight slowdown, and a slight increase in inventory, but the best homes are still going under contract in days.

Frankly, based on the experiences my buyer clients are having, more houses would be under contract in one day if it wasn't for the fact that sellers are refusing to take the first offer, even if it's full price and gives them everything they asked for.  Instead, they are holding off, waiting for more offers to come in.

I've also noticed that sellers are pricing more aggressively, and that will slow down the offers a bit too.

But in my opinion, this winter will be a better time to sell a house than the Denver to Boulder housing market has seen in over ten years.

My, How Things Have Changed

I've been writing blog posts for a few years now, and I've been going through the older ones, looking for needed updates.  Here's a sampling of how I noticed things have changed:

  • I used to do a lot of reports about short sales and foreclosures.  But now, those types of sales are so few, I barely mention them except when reporting on the lowest-priced homes.
  • I wrote a post in 2009, stating that if a listing doesn't get at least 4 showings the first week, it is likely over-priced.  Now, I expect at least 4 showings the first day!  (This is not quite the same for condos, and more expensive homes.)
  • My market reports had a category for homes under $100,000 in Arvada.  Now, my lowest category is for homes under $200,000, just to have enough homes sales to report on.
  • I wrote a post in February, 2012, titled, "The Housing Crisis is Almost Over! Or, Is It?"  It turns out I was right to be cautious, but the much hoped-for recovery was in full swing just a few months later.
  • I used to write about home buyers taking the time to think about whether a house is right for them, now that luxury is gone in all but the upper price ranges. 

But even with all those changes, much has stayed the same. I really didn't find many changes that needed to be made to past posts, and since lots of people are still reading them, that's great news!  

My Most Popular Posts
Keep up with the local real estate market and events by reading my blog posts at HomesDenvertoBoulder.com. Some of my most popular recent posts are linked below.
 
 
 
I hope you enjoyed this newsletter.  Please let me know if you have a question, response, or anything you'd like to share.
 

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See all homes for sale, register to receive daily updates, receive notice of price changes at:  DreamHouseHunting.com

How to buy a house Denver to Boulder.

How to Sell a House Denver to Boulder

Read more about life in Arvada, Colorado (shopping, restaurants, things to do, local issues, Olde Town)

I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the ‘flavor’ of our community, in case they’re new or moving to the Denver area.

I am a residential real estate agent, happily helping folks buy a house or sell a house in the beautiful and friendly suburbs northwest of Denver.  Read what past clients have said about me.

Get monthly updates about neighborhoods, eateries, things to do, and local real estate by signing up for my free newsletter.

 

Copyright © 2013 Joetta Fort, The DiGiorgio Group

Posted by

Joetta Fort, Realtor       720-353-8031       joetta.fort@gmail.com


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