Get Real

We’ve seen some headlines recently that suggest home prices along the Front Range have peaked and are starting to decline.

When we dig in and do the research, this is what we find…

Home prices are still going up, just not as fast as they have been.

We’ve known that the double-digit appreciation that we’ve seen for the last several years could not be sustained and we expected the pace of appreciation to slow down.

So far in 2019, this is the case.  Prices still going up, just not as fast.

It’s like running up stairs.  Eventually you will get tired and you will need to start walking (but you’re still going up).

Headlines that suggest that prices have peaked and are falling create unrealistic expectations for buyers and give sellers a skewed perspective on the market.

Here are the numbers…

Average Price:

  • Up 1.53% in Metro Denver
  • Up 6.1% in Larimer County
  • Up 5.1% in Weld County

Months of Inventory:

  • 5 Months in Metro Denver
  • 5 Months in Larimer County
  • 4 Months in Weld County
  • (Remember that 4-6 months of inventory represents a balanced market)

There has been an increase in Days on Market which means that homes are taking longer to sell.  But the increase is measured in days, not months.

Here are those numbers…

Days on Market:

  • Up 4 Days in Metro Denver
  • Up 11 Days in Larimer County
  • Up 3 Days in Weld County

So, be mindful of headlines that can be sensationalized and might suggest that the market is falling.

Bottom line, the market is going up, just not as fast as it was.

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10 Key Qualities to Look for When Selecting an Agent

Buying a home is one of the most significant financial and emotional purchases of a person’s life. That’s why it is so important to find an agent that can not only help you navigate the home search process but one who can also answer your questions and represent your needs from start to finish. Most importantly, your agent should care about your happiness and ensuring that you find the home that best fits your needs.

Here are some qualities to consider when selecting a real estate agent:

    1. Likable. More than likely, you will be spending a lot of time with your agent, so look for someone that you enjoy interacting with.
    2. Trustworthy. One of the best ways to find an agent who you feel you can trust is to ask friends and family for a referral. Another way to do this is to interview different agents and ask for client references.
    3. Effective listener. While your agent can’t read your mind, they should be able to make educated recommendations and offer advice by listening closely to your needs. Make sure you talk to your agent about your priorities, what types of features appeal to you, as well as any factors that could be deal breakers. This will arm your agent with everything they need to help find you the perfect home.
    4. Qualified and experienced. Make sure your agent has the qualifications and experience to meet your specific needs. For example, some agents have more experience with short sales, while others might be experts on certain neighborhoods or types of housing.  Your agent should also be fully trained in contract law and negotiations.
    5. Knowledgeable. A great agent is someone who is out in the neighborhoods, exploring communities, visiting listings, performing marketing analyses, and collecting all the information that you need to make an informed, confident decision about your real estate needs.
    6. Honest. Your agent should be upfront and honest with you about every aspect of your home search process – even if it involves delivering bad news. The best real estate agents are more concerned about finding the right home for their clients, not just the home that brings in the fastest commission check.
    7. Local. Every community is different and all real estate is local, so it’s important to find someone who really knows the local market and can provide you with whatever information you need to familiarize yourself with a particular area.
    8. Connected. A well-connected agent will have relationships with lenders, inspectors, appraisers, contractors, and any other service provider you might need during your home search.
    9. Straightforward. You want an agent who will work hard to help you find the best home, but you also want someone who will be straightforward with you about the process, the market reality, and what is realistic for you.
    10. Committed. Your agent should be in it for the long haul, meaning that they’re looking out for your best interests every step of the way, no matter how long the process takes. The best way to find an agent with these qualities is by asking around. In all likelihood, someone within your circle of friends or family will have experiences to share and professionals to recommend. You can also search for agents based on area, so you know you’re getting someone who is knowledgeable about the neighborhood(s) you’re interested in. Click here to learn more about the buying process.

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