Friends, Interest rates did not decrease during Q2, which postponed buyer demand and made more sellers delay listing their homes for sale. These two factors caused transaction volume to decrease 29.9% since a year ago. While volume decreased, sale prices also decreased 6.0% from a year ago. When do we expect more buyers to enter the marketplace and what does the market have in store for the second half of 2023? Check out our quarterly newsletter to find out!
Fix & Flip
While we primarily focus on helping clients buy and sell property, sometimes we find unique opportunities to pursue. In March, we started a fix and flip on a condo in the DTC. Fix and flips are great because we get first-hand experience learning the costs and timelines associated with renovations – information we can later share with clients who are thinking about updating or renovating their own homes.
The DTC condo flip required a full renovation, which lasted 5 weeks. We are currently under contract and expect to close in July. Check it out the flip here. We’ll include more insights in next quarter’s newsletter.
Property Tax Assessment Appeals Throughout May, we provided advice and guidance to almost two dozen clients and friends looking to appeal their 2023 property value assessment. We look forward to tracking the appeal results and reporting them in our Q3 newsletter.
Emilia caught her first fish at Greenwood Village’s annual fishing derby. Here she is with her rainbow trout, measuring 12” and 14”, respectively. Emi also celebrated her 4th birthday party with a Little Mermaid-themed bash. Bryan and Brianna love watching Emi grow as she learns more and more every day!
Hunkering down and waiting out winter was the name of the game for the Jimenez family. They celebrated Jamisyn's 7th birthday in February and spent spring break in Arizona visiting family. All eyes ahead toward warmer weather!
Chris is ready for summer concert season and hikes, in which he has set a personal goal to hike 20 of the best Colorado trails. He is excited to assemble a new band to play in gigs around the metro area. With football season a few months away, Chris is already analyzing how his (rebuilding) Green Bay Packers will adjust to their new QB situation. Go Pack Go!
As we enter summer, we are delighted to be your real estate resource and connector. Enjoy Colorado’s summer beauty; we’ll catch you soon!
Blessings,
Bryan, David, & Chris
P.S. - check out previous versions of our Quarterly Newsletter.