Colorado Real Estate News

Three Reasons to Sell Your Home Now!

photo depicting a mother holding up her toddler daughter in a kitchen

If you are a real estate fanatic like we are, you know that 2020 has been a record-breaking year for the market and it likely won’t be slowing down in 2021. Zillow expects home values to increase 10.3 percent from November 2020 to November 2021 despite the ongoing pandemic challenges. The sales growth continues to be affected by similar factors such as strong demographic trends and a shift in buyer preference ignited by the pandemic. If you considered selling in 2020, this year proves to be just as promising. Still not convinced? Here are three reasons why now is the perfect time to sell your home: 

Interest Rates Are Expected To Stay Low
Get excited because the 2020 below-average interest rates are here to stay! Last year, interest rates were below 4 percent and while they may slightly increase in 2021, they are predicted to remain low compared to historical averages. Let’s put these rates into perspective. According to Freddie Mac, December 10th had a record low rate of 2.71 percent for a 30-year, fixed-rate mortgage. Compared to a year like 2018, where the annual average was 4.54 percent, these record-breaking rates are incredibly beneficial to all homebuyers. Buyers can secure a long-term mortgage at an insanely low rate, and sellers can capitalize on high prices. It’s a win-win situation!

There Are More Buyers Than Sellers
As demand continues to rise, inventory remains low. But this isn’t necessarily a negative situation for individuals looking to sell their homes. Buyers are eager and anxious to purchase a house quickly, especially when the real estate market provides such ideal financial solutions for potential buyers. As mentioned earlier, the low interest rates provide affordable mortgages, ultimately resulting in an inadequate supply of homes to satisfy consumer demand. With such high competition to close a deal, buyers are aggressive with their purchase offers. So why not benefit from these multiple offers and rising prices?

TIP: if you are looking to sell your home, consider investing in house repairs to amp up the curb appeal and receive a higher asking price.

Seasonality of Homebuyers.
Did you know there are seasonal trends for selling and buying a home? In previous years, the spring months are historically the best time to list a home. However, with the unpredictable and uncertain living conditions that we are experiencing, the usually defined “peak of interest” in the market has become blurred. With that being said, the most desirable time to list your home is NOW, so do your homework and prepare to capitalize on the eager homebuyers.

How Kentwood Can Help
Have we convinced you? While there is no better time to sell your home than now, we understand the process can be daunting and often complex. With our local expertise and exceptional service, Kentwood is here to guide you through a pleasurable selling experience! Reach out today!

Colorado Real Estate News

5 Great Reasons to List Your Home Spring 2015

UNIVERSITY8 copy

The Denver area residential real estate market continues to both amaze and frustrate.  Buyers are frustrated and sellers are often amazed.  The main issue we’re struggling with is that homeowners are afraid to list their home because they’re afraid of being sold out of it.  They have nowhere to go, they reason, so they can’t sell.

Can you see the circular logic here?

Here are 5 great reasons to speak with your real estate broker today if you’re at all considering listing your home for sale:

  1. Depending on your area of Denver and price point of your home, you may well have multiple offers within days.  No more dreadful vacuuming your way out the door. This phase of the sale goes quickly in our current market.  Your broker will be there to help manage the complex back-end of negotiations, inspections, appraisal, title and closing.
  2. You’ll be in a much better financial position when you’re the buyer competing for your replacement home.  There’s practically no way you’ll get an offer contingent on the sale of your home even glanced at when sellers have multiple cash offers waiving an inspection, appraisal or loan objection.
  3. While you may be camping in your parents’ basement at 45, or living in a Residence Inn for awhile, you’ll be nimble.  This goes back to being able to position yourself to look like the absolute dream of a buyer.  Seller wants to move quickly?  No problem!  Seller wants to rent back for 3 weeks?  No problem!  The Marriott has a pool anyway and the bellhop walks Fido every morning.
  4. You’ll benefit from our fantastic price appreciation of the past two years while interest rates are still low.  Imagine selling your house for a tidy profit, and buying your next home at an even lower interest rate!  Price appreciation will slow down eventually – even though this summer is shaping up to continue in a positive trend.  Interest rates will begin a slow rise at some point.  They’re still low for the foreseeable future which is a great advantage in being able to buy more house.
  5. Counter intuitive as it may sound, the real estate market in Denver tends to slow down a bit during mid to late summer.  Spring is always the best real estate market here and if you need time to spruce, spiff and stage you need to get going.

Homeowners – would you love to move?  Do you need to move?  List your house this spring, Denver’s historically best real estate season.  Help yourself and help all those other wanna be sellers by filling in the blanks on that for sale sign.

If you all get your houses on the market, you’ll all have something to move into!  Or at least look at.

 By Gretchen Rosenberg, Employing Broker at Kentwood Real Estate – Cherry Creek.