Housing News Archives - DwellMileHigh

March 2020 Market Update

July 28, 2020March 3, 2020 by dwellmilehigh

Good News! Buying your next home just got cheaper!!??? Investors are looking for safety with the news of the corona virus and have fled for safer ground of treasury bills. The result a sharp improvement for mortgage rates!!.

Rates are in the 3% rate…With that being said here is my Denver Metro area market update. In the last 30 days there have been 2,229 new homes listed for sale and just over 1,934 home sales in the Denver Metro area. So not many people listing we are back down to 1 months of inventory available. The average time homes are currently taking to sell here in the Metro Area is 32 days. The average sales price is currently $457,896 average for both attached and single family homes.

I have successfully helped families accomplish their real-estate goals here in the Denver Metro area. The only way I have been able to accomplish and achieve this level of success is by providing world class service and always putting clients’ needs first. If you are considering selling your home or just curious about your home’s value contact me at 303-762-9848.

Best Time to List your Home is….

March 5, 2019 by dwellmilehigh

This story ran in the Denver Post last week and is based on a report from Zillow. They report that in the Denver metro area that the best time to list your home for sale is May 1st-15th as sellers will make 1.1% more on average. I am not so sure about this or how Zillow came to this conclusion. I know last year both median and average sale prices peaked in April. Second, Your Castle Real Estate’s Showings Chart reveals that the number of showings per home maxes out in March or April. Third, usually in May or June the number of new listings peaks. So, if you are selling your home you want to list (financially anyway) when there are fewer new listings to compete with and when there are more showings per listing. Thus, I would probably list mid-March to mid-April.

(Article courtesy of Lonnie Glessner of Nova Home Loans)

Are you ready for another house?

January 18, 2019January 17, 2019 by dwellmilehigh

You probably learned a lot as a first-time homebuyer. But just because you’ve bought a home in the past, it doesn’t mean things will be the same the next time around. Every home purchase is different. No matter how experienced you are, it’s important to take the time to understand your goals, the housing market and the conditions under which you’re buying.

Want your second home purchase (or third, fourth or fifth) to go off without a hitch? These tips can help:

Learn the market. Even if it’s only been a few years since your last purchase, the market has probably changed. If you’re looking in a new area, is it a buyer’s market or seller’s market? Study up on home prices in the area, as well as how long homes are taking to sell.

Decide if you’ll sell. If you’re selling your current home while buying a new one, think about how that will work — both logistically and financially. You may also want to consider including a home sale contingency in your offer.

Research the new location. If you’re moving out of state, look into the process of buying in that location before diving in. Each state has different contracts, fees and systems when it comes to buying real estate. Doing research early on can help you better prepare for your upcoming purchase.

Paint the bigger picture. Make sure you’ve decided what you’re looking for in the new home. Sure, if you’re downsizing you want a smaller property (and a lower price), but don’t stop there. Know what amenities you want in the house, what kind of commute you’re willing to have and what your new neighborhood should look like.

If you need a mortgage for your new place, or a real estate agent referral, get in touch today.

Article from Lu Graham and Fiance of America Mortgage

Freddie Mac’s 2019 Predictions

December 18, 2018 by dwellmilehigh

Freddie Mac released their 2019 economic and housing predictions recently as follows- They expect GDP growth of 2.4% in 2019 and just 1.8% in 2020. Nationally, total home sales will decrease by 1.6% in 2019 and rebound slightly in 2020. Home prices will increase by 4.3% in 2019 and 2.9% in 2020.

October 2018 Market Update

October 2, 2018 by dwellmilehigh

Sept. 2018 Market Update

September 5, 2018 by dwellmilehigh

August 2018 Market Update

August 7, 2018August 6, 2018 by dwellmilehigh

The average sales price for July single-family detached homes came to $504,440 and $343,132 for Condos and Town-homes. In my video, I said that the prices decreased by 5K with the overall average. When I took a second look at this data and split it out by single family and condos I noticed that the drop is mostly coming from the condo market, not the single-family market. It will be interesting to see what this does next month… Stay tuned…

( Data provided by REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)