by Aaron Graybill | Jan 31, 2018 | Uncategorized
I just wrote an email to a client who had basically this question in response to the quarterly price change map and I tend to answer this question in one form or another multiple times a month. So here is a deeper dive response that I gave him. That is a great question! I think this is a great example of how statistics can be a mixed bag. We all love statistics because it can tell a story in a quick powerful way, but it can also be misleading. The price change map shows how the Average Price of a home sold over the last year in a neighborhood has changed. In general there are some things this can tell us that is meaningful but I think its easy to extrapolate this too far. For example, in the Cole neighborhood it shows that the average price of a home in sold in Cole went up 21%. Does this then mean that every house in Cole went up 21%? I don’t think so. It simply means that more expensive homes were sold this year than in the past in relation to the number of cheaper homes. So in Cole, this is interesting because it means that if you are a house flipper or even spec builder this means that you can push the upper limit of what a home can sell for now more than you could have in the past. This also could show that people are scraping and building more expensive homes. So if a neighborhood is all single story homes selling for 300K and people start scraping...
by Aaron Graybill | Jan 29, 2018 | Uncategorized
Hot off the presses. This price change map shows how each Denver Neighborhood did from 4th Qtr 2106 to 4th Qtr 2017. As you can see Supply and Demand continue to drive prices steadily up. Overall the Denver Average sales price went up 12% and the Median sales price went up 10% city wide year over year. I expect that 2018 will be more of the same. Reach out if you want an updated Comparative Market Analysis of your property. Aaron –...
by aaron@inhabitdenver.com | Aug 11, 2015 | Uncategorized
555 Front Range Rd Littleton, CO 80210 5 Beds / 5 Baths $1,275,000 Located in Littleton on horse property, this sprawling mid century home was designed by check born, American Architect, Eugene Steinberg. The low slope roof, exposed rafters, and floor to ceiling windows exemplify Steinberg’s architecture falling in line with many other modernist architects of his day. Steinberg is also known for his contribution to front range architecture by being the principle community planner and architect of nearby Arapahoe Acres. Exposed rafters and natural wood ceiling envelope the main living room space. Remodeled in 2001 to provide modern amenities much of the original character and materials remain. Complete the Colorado experience with the Horse Barn located on the property and easy access to the Highline canal for endless horseback riding in the serene pastor setting shockingly tucked away while still city close. This is a great opportunity to own a mid-century gem in one of the most serene settings in the city. To schedule a private showing call me at 303-506-6786 or email me. Listing courtesy of Jon JD Dahl, JD and Associates ...
by aaron@inhabitdenver.com | Jul 1, 2015 | Uncategorized
It’s time to CELBRATE again! Here is a great interactive map from our friends at 9News. Take a look and start planning your 4th of July celebration. Click on the interactive map to view locations and more information on 4th of July Fireworks....
by aaron@inhabitdenver.com | Jun 16, 2015 | Market Information
Real Estate News Five Essential Things You Need To Know About the 2015 Summer Home Buying Market This year has kicked off with an array of experts trumpeting the Denver housing market’s strength and resilience. Inventory is at record lows, home prices continue to rise, and foreclosure activity has ebbed to lows not seen since before the 2007 downturn. Spring and summer is the time for selling houses. The months of April, May, June, and July typically account for more than 40 percent of all housing transactions annually, thanks in large part to good weather. 1. Inventory shortages: “The story of the day is on the inventory front,” stresses Lawrence Yun, chief economist of the National Association of Realtors (NAR). It’s a sentiment echoed by many. The number of available homes in metro Denver has plunged to a record low, thanks to both an abnormally small supply of existing homes for sale and a dearth of new construction not keeping pace with the current demand. 2. Increased Competition: In addition to a dwindling supply of available homes, the number of buyers has surged. And not just traditional buyers – investors have comprised a sizeable chunk of the buyer pool since the downturn and continue to do so. Real estate investors are responsible for about 25 percent of the existing home sales each month. You, the prospective buyer, need to be prepared to move fast if you find a property you’d like to buy. “Buyers need to be patient because many will be outbid by others and might have to bid on multiple homes,” cautions Jed Kolko, chief economist of...
by aaron@inhabitdenver.com | May 27, 2015 | Market Information
In my previous post I addressed how to take advantage of the market by selling your existing house and negotiating the best terms possible and getting enough time to stay in your house after closing until you find and purchase your replacement home, only having to move once, out of your existing home and into a new home. In Part 2 of this article I will be discussing how to purchase a new home and get a acquire a rental at the same time… Many of us have thought about having rental properties, but getting to that point seems daunting. Why not make your current house a rental property? Most “starter” homes make great rental properties. Why? The answer is that you probably didn’t spend a ton of money on it ( less than 300K) and for a 3 bed/2 ba home in the current Denver rental market you could get about $2000 – $2300 a month, possibly more depending on the location. Lenders will allow you to claim the rental income from your current home before you even rent it out with some stipulations. If you can qualify without that ie. you can carry 2 mortgages then don’t worry about this but here is a creative approach to making this happen if you can’t. Lenders will allow you to claim the rental income on your current place if you have 30% equity based on an appraisal and they will allow 75% of your the rental income to be counted as additional income to offset the debt of the mortgage. For example. You paid $250,000 for your house, with...
