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Welcome to our eNewsletter and monthly real estate market video update. According to the Denver Metro Association of Realtors the available inventory in January is down nearly five and a half percent when compared to the same time period last year. And home prices are up just over eight-percent in the same time frame.
And what does that mean for people looking to buy or sell? Opportunity! That’s right – The biggest opportunity we see is for move up buyers. We have literally helped dozens of buyers over the past months – sell their current home and transfer their equity into a home that better fits their needs.
Now, there has been a lot of talk about home prices and if they are accelerating too quickly – you know the B word Bubble. According to CoreLogic’s US Economic Outlook, the average American Household gained over eleven thousand dollars in equity over the course of the last year. This is largely due to home value increase. For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new found equity in their homes and themselves, not in depreciating assets. Bottom line – Corelogic predicts that home prices will appreciate by another five percent by this time next year. So – we are not seeing craziness in this market and all indications do not line up with any type of Bubble. Read more about this in our eNewsletter link below!
Ok – so what does all this mean to you? Well, we see that buyer demand is outpacing the supply of homes for sale in Colorado, so it is not hard to see why prices are continuing to appreciate. As well, another contributing factor is the strength of Colorado’s economy and the local job market. So goes the local job market, so goes local real estate and with the Colorado Department of Labor putting statewide unemployment at only three percent, it’s no surprise the market is rocking. So – until the supply of homes on the market starts to meet the buyer demand, prices will continue to increase. We see this trend most pronounced at home prices below three hundred and seventy five thousand dollars. Again, this is the primary reason why move up buyers are having so much success in this market.
If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now. And if you’re a move up buyer – there couldn’t be a better time than now to take the equity from your current home and invest it into your next home while interest rates are still low! Read more in this month’s eNewsletter.
Are you moving to Colorado from another state – or maybe you are moving out of Colorado all together. Either way, we have been able to use our network to help clients connect with reputable Real Estate Agents when selling or buying real estate outside of Colorado! New Mexico, Virginia, California, Illinois, Alabama … these are just a few of the states we have recently helped our clients find the right agent to get them moving in the right direction! You see – Our national network runs vast and deep – and we want you to have the best experience and receive the best return on your investment in Colorado and beyond! And the way we do that is by connecting you with the right professionals and taking out all of the guesswork. So if you’re looking for connections to agents outside of Denver or outside of Colorado all together – give us a call and we will make that connection.
Hopefully this video and the included enewsletter provide you great value or at least some little nuggets of information that keep you up to speed with today’s strong, strong real estate market. If there is any information or specific data that you would like to see in upcoming newsletters – shoot us an email and let us know. We look forward to being of service.
Scott Futa | The Scott Futa Home Team
Keller Williams Action Realty, LLC
140 S. Wilcox Street
Castle Rock, CO 80104
(303) 225-2707 | Team@ScottFuta.com