Let’s look back a year. 2022 saw a meteoric rise in home values in the first four months of the year, driven by incredibly low interest rates in the 3% range for a 30-year fixed mortgage and the lowest inventory on record in Colorado. The average price per square foot for a single-family home in… [Read More]
Sellers – Cash, Conventional, FHA or VA?
There is a perceived hierarchy of Buyers when buying a house Cash Conventional VA FHA The examples below are what we typically we see, but all Buyers and situations are different Cash These are deemed the lowest risk as they typical remove the appraisal and loan contingencies in the contract so Earnest money would be… [Read More]
Sellers – should you disclose other Buyers bids ??
As part of our Listing Contract in Colorado, Section 5.8 talks about “When asked, Broker Will Will Not (clr) disclose to prospective buyers and cooperating brokers the existence of offers on the Property and whether the offers were obtained by Broker, a broker within Brokerage Firm, or by another broker. If Broker wishes to disclose the terms of… [Read More]
Denver Real Estate Market Summer 2022
We are exactly where we expected to be. The only unanticipated change to the Colorado real estate market is the speed at which we experienced the impact. Seemingly overnight. Yet, we’ve been expecting this since January. There is a direct correlation between the rapid rise in mortgage interest rates in the spring of this year… [Read More]
Denver Market Update Spring 2022
We have been waiting almost exactly 10 years for this moment. A market shift. Since 2012, the Denver area and surrounding real estate markets have been running at an incredible pace. The average sales price in the Denver MSA in February of 2012 was $247,282. The average days on market was 85 days and the… [Read More]