PAUL'S REAL ESTATE NEWSLETTER – NOVEMBER 2013
KELLER WILLIAMS REALTY IS #1 (AGAIN)!
How can you be #1 more than once? In 2012 became the #1* real estate company in the U.S. This year Keller Williams became the #1 real estate company in North America with over 90,000 associates. As Keller Williams expands internationally it’s simply a matter of time before we’re No 1 in the world! Read More
THANK YOU FOR ‘LIKING’ MY FACEBOOK BUSINESS PAGE
Congratulations to the lucky winners of my $25 Starbucks gift card drawing for ‘Liking’ my Facebook business page, Paul Sobania-Real Estate. The winners are Matt C., Butch E., Heather M. and Al U. Thank you for your support!
If you haven’t yet had the chance to ‘Like’ my business page, it’s not too late. Use this link to be redirected to ‘Paul Sobania – Real Estate’ and click on the ‘Like’ button (login to Facebook.com if needed).
PAUL’S CRYSTAL BALL
No one really knows what the Denver real estate market will look like in 2014. Here’s what I expect:
Denver home prices in 2014 will essentially remain at today’s values. The Denver markets has already benefited from significant appreciation since 2012 that has resulted in home values equal to and even higher than the pre-recession peak in 2006. Interest rates are expected to rise in early to mid-2014 which will reduce affordability. High buyer demand and limited supply of homes for sale will help to sustain home prices, thus offsetting the downward effect of higher interest rates.
What do you expect from real estate in 2014? I would love her hear your prediction for the upcoming year. Leave a message on my Facebook business page, Paul Sobania – Real Estate using this link.
2013 HAS BEEN THE YEAR OF THE MOVE-UP BUYER
Home owners have regained home equity lost during the housing crisis. With the return of equity, buyers who had been sitting on the sideline jumped back into the market. Notice the increase in home sales for the upper price ranges.
The return of home equity was great news, but move-up buyers faced a new dilemma. How do you buy a move-up home in a hot seller’s market? Low inventories of homes for sale and high buyer demand resulted in homes selling in days after coming onto the market. In many cases, quality homes received multiple offers making it difficult for buyers as they competed against each other for homes. The last thing that a move-up buyer wants to do is end up homeless.
The question is, how does a move-up buyer sell their current home and purchase a new home without putting their family into a long term hotel stay with all of their possessions sitting on a semi-truck locked up in some warehouse parking lot? Here are a few options to consider:
- Buy first, then sell – This is the best option when financial possible. There is risk, as there’s no guarantee what you’ll be able to sell your home for or when you’ll be able to sell.
- Seller contingencies – Seller makes their current home’s sale contract contingent upon their ability to find and secure their next home.
- Seller rent-back – Selling first is the least financially risky option. But if you want or need to close on your current home to get the cash for your new one, negotiate a rent-back into the contract. A rent-back allows you to close on your home’s sale, but rent it back for a few weeks or longer from your home’s buyer while waiting to close on your next home.
- Buy home first with contingency to sell current home – This was a popular strategy ten years ago but unfortunately not one that sellers are willing to entertain today. The downside risk is too great for the seller with almost no risk to the buyer. The seller takes their home off the market for 30-60 days while their buyer tries to sell their home. Not a practical option in today’s market.
Moving from your current home, Point ‘A’ to your move-up home, Point ‘B’ without ending up in a rental is tricky. Let me help you formulate a strategy to make your move-up dream come true while making the move from Point ‘A’ to Point ‘B’ as simple as possible.
3 MORE REASONS TO SPEAK WITH ME TODAY, YOUR REAL ESTATE PROFESSIONAL
- Get the scoop on your local real estate market. Although national statistics may give you an overview of the overall housing market, as a professional real estate agent I can provide in-depth information about our local market.
- Find out how much your home is worth. I have the expertise to give you an accurate assessment of your home’s value. I’m also happy to offer tips to help you improve its condition before you list it.
- Professional insight into your real estate questions. I’ll gladly answer your questions about the real estate market, or connect you with a lending professional in my business network.
Contact me today to learn more about the local housing market.
PAUL’S MOBILE REAL ESTATE SEARCH APP
Search homes for sale on your smart phone or tablet using my home search app. Log on to the iTunes Store or Google Play and download the Keller Williams app. When prompted, type in the code ‘KWKB85L’. For simple downloading instructions use this link, www.PaulMobileApp.com.
REAL ESTATE MARKET SUMMARY FOR OCTOBER!
Here are the stats and highlights for the Denver metro market in October compared to October, 2012
- 10.8% increase in the number of homes sold
- 31.3% decrease in average days on market
- 0.2% increase in number of homes for sale
- AVERAGE SOLD PRICE UP 9.2% to $332,184
REAL ESTATE NEWS
Developer plans 3,300 acre Castle Pines project Read More
ECONOMIC NEWS
OTHER NEWS
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home. Referrals are the core of my business and are always appreciated.
Free Real Estate Tools
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!