With the average cost of a single family home in Denver metro over 2/3 of a million dollars and condo/townhomes getting close to half a million, there are some worried about a potential housing collapse. We’re keeping a close eye on micro and macro-economic variables, but we’re fairly confident housing will remain strong for the foreseeable future. Check out our quarterly newsletter to learn why.
GER WORKING w/ SELLERS
During Q3, properties in Denver metro sold for 102.6% of list price, on average, while our listed properties sold for 104.1% of list price, on average – outperforming the market by 1.5%! Further, our listings sold in 4 days, which is 7 days faster than our competition during the same period.
The table below shows how much more our listings sold for compared to the agents we compete against based on price point.
A FEW RECENT RECORD-SETTING SALES
9867 E Peakview Ave #E08 – sold in July for $261K, which is $316/sq ft - a record in the Appletree Condominium complex by more than $13/sq ft!
8651 E Dry Creek Rd #628– sold in September for $270K, which is $385/sq ft - a record in Saddle Ridge Condos by more than $26/sq ft!
GER WORKING w/ BUYERS
“Bidding wars”: a sentiment-loaded phrase fueling ️ some buyers to give up hope in this market... As buyer agents, we never flinch and our track record from Q3 speaks for itself. During Q3, we closed 6 buyers – 3 of which “won” their home on the first offer and the other 3 after just two offers. Congrats to Ryan, Becky, Drue, Sam, Steph, Tiffany, and Dan on your home purchases!
The Zerrs escaped to Frisco to beat the summer heat in August. They stayed at Mae Belle townhomes (thanks Brad and Mary!) where they biked, enjoyed margaritas at Lake Dillon’s Tiki Bar, and visited family in Silverthorne. In September, Emilia got to ride her first train at Belleview Park in Englewood. Choo choo!
David and the family wrapped up summer and got back into “school mode.” The Jimenez girls started Kindergarten, 3rd, & 4th grades, and Briana had another round of 1st graders to launch their elementary school lives! The Jimenez family had a fun summer, but the kids were ready to see their classmates again… while David and Briana were equally ready for them to be back in school.
In August, Chris took his (FIRST) international trip to Cabo San Lucas with friends, where he spent time deep sea fishing, cruising on a catamaran , and lounging in the hotel’s top floor infinity pool! You’ll find Chris at Comedy Works, Red Rocks, and cheering on his Green Bay Packers this fall!
The high and low record sales for the past quarter include a 1 bed, 1 bath condo in Aurora for $115K and a 7 bed, 10 bath estate in The Preserve of Greenwood Village for $7.4MM. Click the icon below to check 'em out!
**QUESTION of the QUARTER: How can I shop lenders?
Case in Point : In late August, our friends and past clients, Alex and Carissa, asked how they could shop lenders to know they were getting the best rate on their refinance…
Q: We are refi’ing; how can we shop lenders for the best rate and fees?
A: Great question! Many lenders don’t like being “shopped” and will require that you submit a long and tedious loan app before they will provide a quote. In order to skip this time-consuming step, we recommend that you provide only the limited information below. Ifthe lender is unwilling to provide you a quote, move on to another.
(1) State you want a rate sheet at “par” w/ the shortest rate lock period possible
(2) Whether the loan is a purchase, refinance, or cash-out refi
(3) Provide the sales price and down payment (if purchase) or market value and current loan balance (if refi)
(4) Whether the property is a primary residence, vacation home, or investment property
(5) Your estimated credit score
(6) Desired loan product of conventional, FHA, or VA (if veteran)
(7) County and state of the property
Once you’ve selected the most competitive lender, be sure to follow up and ensure you actually qualify for the loan. The above trick is the fastest, best way to ensure you’re getting a good deal at the closing table. Remember, when shopping rates, obtain all lender quotes on the same day due to market volatility.
FINALLY and, most importantly, many times you get what you pay for, so be wary of “value” or “online” lenders as you have no recourse should things go poorly. Getting a Quote? Contact us for referrals to respected, lending professionals, who are very competitive in fees and also deliver best-in-class service.
Contact us anytime you have a real estate-related decision – refi questions, property tax concerns, renovation ideas, etc. We’re more than just Realtors, we’re real estate advisors.
As we enter into fall, we are delighted to be your real estate resource and connector. We are Greenwood Estates Realty, "The best real estate experience you've ever had."
Enjoy the fall leaves , football season, and pumpkin spice lattes; we’ll catch you soon!
Bryan & David
P.S. - check out previous versions of our Quarterly Newsletter