It’s been a busy week, and I’m not totally sure as to why. Does that ever happen to you? Like, you’re run ragged, and you get stuff done, but then your Tag or your Bridger or your friends ask how your week was, and you’re like, “Great. Busy. No clue what I did.” That’s so weird.
I had a lovely little dinner party last weekend with some close friends. You can never underestimate the value of spending time with your friends. It’s so good for your overall well-being. I know life gets complicated and time gets sparse, but if you’re looking for a great New Year’s resolution- give this one a go. Your friends need you. You need your friends. Make the time.
Headed to Florida soon. Can’t wait. (This snow, man.) I have to get some ceiling fans installed. I was planning to do that anyway, but I did get feedback from more than one vacationer who thought ceiling fans would seal the deal on our place. That put some spring in my step. (And provided an excellent excuse to get out of here. Again, this snow, man.)
Our shower is mostly done; just some grout work to do yet. Amazing, because we can now take showers far, far, far (and yet still not far enough) away from where my children take showers.
I’m ready for the holidays. You? Bring. It. On.
My Real Estate Status
My lender sent me a referral– and, FYI, that’s so awesome and flattering– and these guys are moving from Washington. I’m really excited about them. They have a house in mind that they really want in Idaho Springs, so I’m going there to do a virtual tour via Facetime. Fingers crossed that they like it enough to come see it in person.
My West Ranch is closing today! Woohoo, because it took a hot minute to get to this point. But, alas, we have arrived.
I got a house under contract in Denver last weekend, and it’s going to be a quick contract period. It closes in 2.5 weeks which isn’t a personal record, but it’s up there. We got through some concerns and came out on the other side with smiles across the board. Inspections are vital to your house-buying process, don’t ever forget that.
Pro tip- This is my prediction; I have no crystal ball, but I do have some industry knowledge, so take it as you will: If inflation numbers keep improving, we’ll have a strong selling season this coming spring. It won’t be crazy as it was last spring, but it’ll be a solid opportunity for sellers to make money on their houses again.
Current Denver Area Real Estate Market
As we get closer to Thanksgiving, Hanukkah and Christmas buyer activity begins to dwindle and homes spend more time on market. This week for homes going under contract spent a median of 30 days on market before being placed in a pending status. Based on data from 2013-2021 our typical median days on market is 14, so nearly 100% longer that what we would typically expect for this time of year. Days on market tend to continue to stretch out as we end out the year.
An interesting trend has revealed itself for homes over $1,500,000. This market segment is much less loan dependent and flush with cash buyers. Based on data from the last 12 months approximately 35% of these transactions are purchased using cash. Taking away interest rate volatility and affordability issues this is our fastest moving market this week with homes spending approximately 21 median days on market. There is a very active pool of potential buyers looking at the 1.5-2.0M range who are picking up properties that are priced well, staged, with beautiful photos at a faster rate than lower end properties.
More People Are Finding the Benefits of Multigenerational Households Today
If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years.
As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way.
Living with Loved Ones Could Help You Achieve Your Homeownership Goals
There are several reasons people choose to live in a multigenerational household, and for many, the arrangement is a personal one. But according to the Pew Research Center, the top reason people choose to live together today is financial.
A recent study from Freddie Mac also finds more people are choosing to buy a home together so they can save money in the homebuying process. As the study says:
“. . . an increasing percentage of young adult first-time homebuyers are relying on support from older generations, including their parents, to buy a home together.”
For these individuals, combining their resources can help them achieve their dream of buying and owning a home. By pooling their incomes together to make that purchase, they may be able to afford a home they couldn’t on their own.
Other Key Benefits of Multigenerational Living
Not to mention, living in a home with loved ones can have other benefits, too, like giving you more quality time to spend together. Darla Mercado, Certified Financial Planner and Markets Editor for CNBC.com explains how this living arrangement can help on a personal and financial level:
“Residing with relatives can offer advantages . . . you can pool multiple streams of income, for instance. And in households with young children, grandparents can pitch in with child care.”
If this sounds like a great option for you, it’s important to work with a trusted real estate professional to discuss your needs. They can help you navigate the process of finding the right home for you and your loved ones.
Bottom Line
More people are discovering the benefits of multigenerational living. For the best information and help deciding what’s right for your personal situation, let’s connect and start the conversation today.
Upcoming Events
- Holiday Giving Tree- Get matched with a family in need this holiday season and give the gift of giving. It’s a win-win.
- Thanksgiving Scavenger Hunt- Know what goes great with Thanksgiving? Scavenger hunts. Who knew? Grab your kids, head on over, and prove me wrong.
- Let’s Explore Dinosaurs- Bring in the season with some dinosaur knowledge, and you’ll be the cool uncle at your holiday gatherings.
- Bailey Ladies' Night Out- Calling all local women who need a break! Check out some food, bevies, and cool demos as you catch up with the girls. #GirlsNightOut
- Artist Show & Sale- This senior art show supports the Senior Scholarship Fund and your senior community just in time for gift-giving.
