I got my Invisalign off, and my teeth feel niiiiice. Not dealing with those has increased my quality of life tenfold; however, I highly recommend them if you need some teeth aligning. Overall, five stars.
We celebrated our 12th anniversary last weekend and went to dinner at our favorite restaurant in Denver. It’s vegan, but I promise you, it’s great. We ate there before I decided to try out a vegan lifestyle. Tag got a “milkshake” that was to die for. And, I’ve officially figured out how to make almost any lifestyle unhealthy, so I’m very proud.
Anyway, we talked about our future and goals and lots of good stuff like that. We’ve decided we need to cut back on expenses, but we’re NOT cutting back on the costs of healthy food, the kids’ learning stuff, or vacations. We both feel great about this because health, learning, and playing are all vital to happiness and success (in my humble opinion).
Speaking of health and learning, Sterling’s swimming lessons are really paying off; he now swims underwater and is getting impressive. We’ve also put him in a robotics coding class that I think he’ll excel in.
And Bridger still has football. He had a game last week. They started off strong, but they did not end that way. It was a pretty brutal takedown. He’s in a team of beginners, so the surprise would be if they won. In fact, his coach actually told us they’d likely win ZERO games this season. So, that’s going to be super fun to watch (and deal with).
My Real Estate Status
Things are busy. I’m working with a few buyers now and looking forward to finding them the homes of their dreams. My two current listings are going well, too. The fancy one has a broker’s open tomorrow.
This kind of opening is really cool because you get excellent academic feedback, with the added bonus of getting the house in front of more eyes. Brokers who love the house may have clients that will too. It should be a good time.
I’m currently working with a client on a contract to purchase her son’s townhouse. Working within family dynamics can be really challenging, but this one is going smoothly, and I think it’ll stay that way. They all seem to genuinely like each other. I know, right? Families like this exist. (Kidding, family! I know you’ve stopped reading this to text each other about me now, so this will be sitting here for you to read when you come back.)
I may start a partnership with an agent in my office, so we can help each other out when we’re away or whenever the other needs. That’ll be so helpful. It’ll give us both more confidence that our clients are always taken care of and in good hands.
We’re also planning client appreciation events with others in my office. I love my clients and really only take on those I vibe with, so I think these events will be pretty fun and give clients the recognition they deserve.
3 Things Buyers Can Do To Help with Affordability
Current Denver Area Real Estate Market
"In today's webinar we recapped a little bit of Patty Silverstein's presentation last week as to whether or not we are in a recession or a correction. Patty measure approximately 10 different metrics on this topic and she stated that 7 out of 10 of her metrics pointed towards a correction and not a recession. We are seeing a pricing correction in the real estate market as well, beyond our normal seasonal retraction. Prices ebb and flow each year with the bulk of price appreciation happening from January - June and prices fall back as the relationship between supply and demand shifts from July-September. Typically we see prices fall back approximately 5% from Spring to late summer however this year prices have fallen back 9.9% from peak pricing back in April. This graph shows month over month price change as it is compared to the last 9 years in our real estate cycle. Even though prices have fallen back 9.9% from peak pricing the average home price is still up 8.4% from one year ago. We have room for correction.
Higher interest rates are affecting the price points between $500,000 to $1,000,000 price range the most where in this market we have 27.4% of the units required to offset demand to create a 6 month supply of inventory where we would flip to a buyer's market. However homes between $1,500,000-$2,000,000 are in the shortest amount of balance where we only have 16.7% of the inventory required to offset demand. The luxury price points are holding fast and are actually tighter than average priced homes in Metro Denver."
Top Reasons Homeowners Are Selling Their Houses Right Now
Some people believe there are homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current homes.
You may even have the same hesitation if you’re thinking about selling your house.
Data shows that 51% of homeowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on that make a move essential, regardless of where rates are today.
As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), explains:
“Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce or a new job...”
So, if you’re thinking about selling your house, it may help to explore the other reasons homeowners are choosing to make a move today. The 2022 Summer Sellers Survey by realtor.com asked recent home sellers why they decided to sell. The visual below breaks down how those homeowners responded:
As the graphic shows, an appetite for different features or the fact that their current home could no longer meet their needs topped the list for recent sellers. Additionally, remote work and whether or not they need a home office or are tied to a specific physical office location also factored in, as did the desire to live close to their loved ones.
The realtor.com survey summarizes the findings like this:
“The primary reason homeowners decided to sell in the last year was the realization that, after so much time spent at home, they wanted different features and amenities, such as walkability, outdoor space, pool, etc...”
If you, like the homeowners surveyed, find yourself wanting features, space, or amenities your current home just can’t provide, it may be time to consider listing your house for sale.
Even with today’s mortgage rates, your lifestyle needs may be enough to motivate you to make a change.
The best way to find out what’s right for you is to partner with a trusted real estate professional who can provide expert guidance and advice throughout the process. They can help walk you through your options, so you can make a confident decision based on what matters most to you and your loved ones.
While the financial reasons for moving are important, there’s often far more to consider. Non-financial reasons can also be a significant motivating factor. If you need help weighing the pros and cons of selling your house, let’s connect today.
- The Bistro- head over to have some local trout tomorrow night, and if you can’t make it, don’t fret; this happens every 4th Friday of the month
- John Till at Over Yander Brewing Co- check out some live country and blues music while you sip on an IPA this Saturday
- 2022 Bike Nights- two words: Arm. Wrestling. (Also, cars, Harleys, and bikinis)
- Social Dance Party- hear me out, you get social, you dance, you party- it’s a no-brainer
- Mountain Mindfulness- I don’t know about you, but being in nature invigorates me and makes me a better person
- The Importance of Being Earnest- you likely read it in high school, but now you can see it performed, and this is what they mean by full circle
- Investing 101 course- get your seat and learn how to prepare invest in your future using your new sharp financial mind
- RuPaul's Drag Race- clothes, makeup, drama, where can I sign up?