My dad and brother have arrived! It’s been so much fun. I had to go to Black Hawk for a client meeting yesterday, and I dropped Adam off at the casino, where I eventually met up with him. Ended up in a poker tournament. I lost right away, but he won, so that’s awesome.
This weekend will be more family-oriented, with us all going to watch Bridger at baseball practice. And Sunday, we’re having a hoorah for Adam’s birthday. It’ll be a lot of fun with tons of good people and good food. We’re looking forward to that.
Sterling update: he no longer likes any of the after school program teachers, so that’s been fun to navigate. They’re all very mean, apparently. Fingers crossed, this new phenomenon ends very soon. Side note, I am sure they are not mean at all, they probably just tell him he can’t do whatever he wants when he wants and thus they are mean in his eyes.
Anyway, it’s been jam-packed with the gang here and getting the work-life balance back on track, but I wouldn’t change a second of it.
My Real Estate Status
I have a client who has properties in Black Hawk, and we’ve been discussing listing some of those as Airbnbs. He’s asked that I help to manage that. I went to see the rooms today, and they’re really great. We’re gonna do a little test run to see how it goes, but I’m pretty optimistic.
My house that’s supposed to close tomorrow has a little last-minute hiccup, I’m confident it’ll all work out, but time will tell.
Everything else in the works is going well!
Have you guys ever heard of 72SOLD? It’s a different way of selling property and helps sellers get between 8.4 and 12% more for their home than the average MLS prices. It’s a step-by-step program that bases the sale of a home on psychology. Sounds new wave, right? Well, it’s been used in Arizona for years and has gotten amazing results! Now, it’s our turn.
Go ahead and check out the video below!
Only 4500 agents will be involved with the program, and I’ve secured my spot! Email [email protected] or call at (303) 328-8800 to learn more from me, your friendly neighborhood realtor and now 72SOLD Area Director!
How Much Do You Need for a Down Payment?
Current Denver Area Real Estate Market
"Real estate professionals waited with bated breath to see what the market activity looked like following the lull at the end of December. Buyers returned to the market with an increase in showing activity of 80.7% over the last week of December. 11,122 Total showings were set as the New Year kicked off in 2023. While market showings are not what they were 1 year ago, being down by 51.2% the buzz in the market is positive for a spring pick up. I expect showings to increase steadily week over week through spring. With 80.7% more showings, we also saw a nice bump in pending transactions up 61.9% week over week with 685 units going under contract. Now what's interesting is that buyers are being more discerning about putting a property under contract and looking at an average of 16 homes before putting a property under contract. 2023 Is a year of skill and not speed to entice buyers to make offers. Buyers want turn-key homes that show well, are priced right, staged, with great photography and the ability to either negotiate a rate buy down and/or have seller concessions to cover closing costs.
Active inventory for sale heading into the first full week of January was 4,477 units available for sale which is in line with the average inventory for January historically from 2013-2019. Inventory fell week over week by -6.9% even though new listings were up week over week by 150%. Active inventory fell because, again, our pending transactions rose 61.9% over the last week. This created a shift between the relationship of supply and demand pushing our predictive months of inventory down to 1.5 months. This means that at the current rate of sales it would take about 1.5 months to sell off the existing inventory or for every 1 buyer in the market they have about 1.5 homes to choose from. This is back into extreme seller's market territory, but not necessarily multiple offer territory. Buyers should take advantage now before our market really compresses in the months of February, March and April where we tend to see the most competitive months of the year."
Today's Housing Market Is Nothing Like 15 Years Ago
There’s no doubt today’s housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.
In the latest Real Estate Forecast Summit, Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), drew the comparisons below between today’s housing market and the previous cycle:
Looking at the facts, it’s clear: today is very different than the housing market of 15 years ago.
There’s Opportunity in Real Estate Today
And in today’s market, with inventory rising and less competition from other buyers, there’s opportunity right now. According to David Stevens, former Assistant Secretary of Housing:
“So be advised…this may be the one and only window for the next few years to get into a buyer’s market. And remember…as the Federal Reserve data shows…home prices only go up and always recover from recessions no matter how mild or severe. Long term homeowners should view this market…right now…as a unique buying opportunity.”
Bottom Line
Today’s housing market is nothing like the real estate market 15 years ago. If you’re a buyer right now, this may be the chance you’ve been waiting for.
Upcoming Events
- Festival Of One-Act Plays- Check out this playwright-selected group of five one-act plays directed by our local talent.
- Evergreen Sustainability Tree and Styrofoam Recycling- Still have your trees and all that nasty Styrofoam that protected your electronic gifts? Head to the recycling event and get rid of them with intention!
- Animals LIVE- This free event is covering owls this time, and you’ll not only learn about them but get to visit with four different kinds.
- Pet First Aid & CPR Training by Fran- Learn how to save your furry friends, just in case!
- The Rocky Horror Picture Show- If you haven’t gone to this show, you’re missing out. It’s a rite of passage that never gets old. Don’t miss it.
- Entanglements- Sure to be stunning, this art exhibition examines the relationships between nature and humans.
