Is there a Seasonal Shift happening in Denver now?

 I have buyers waiting for the prices to go down, and truly think they will be waiting for a long time if ever.    The prices are not going down, but they are not rising as fast as they were earlier this year.    In June comparing to last June we saw a 27% increase.   In July there was an 18% increase, and expect this percentage to decrease for August.    

It is seasonally slower after the first to the 15th of July due to families preparing their kids to return to school and taking their last vacations for the summer.   It will pick up again in September, but not as fast and furious as it was in early spring.

The inventory has doubled since March, and we are now starting to see price reductions, which were unheard of earlier this year.     This sure helps those buyers that kept getting beat out this year!

 

So, bottom line, it is a great time to buy a home, and before they start increasing again next year!   Call me when you are ready!

Joan Cox, Broker/Owner

House to Home, Inc.

720-231-6373

www.JoanCox.com

What is an "appraisal gap"?

 

 With the demand for listings much stronger than the supply in the Denver metro area, we are seeing an abundance of showings on most listings, and multiple offers.

When you work for the buyer, you HAVE to do comparables to see if the list price is "fair market value", which is what an appraisal would come in at.    

Right now, we are seeing offers coming in THOUSANDS more than list price, and buyers should address whether they are able to make up the difference between the appraised value and their contract price.   The lender will only lend the appraised value, so if a buyer offers $50k more than list price, the difference needs to be addressed.    IF the buyer is willing to make up this difference, this amount will be needed at closing, ALONG WITH their down payment and closing costs.

It is IMPERATIVE for buyers to review their financial situation to know what they are offering and what will be expected.    Will they be upside down financially when they move in.   Yes they will.   BUT, right now homes are appreciating quickly (in March the metro area averaged 15% increase).   If a buyer is planning on remaining in a property over one year, they should make up this amount.    BUT, if a buyer losing their job or something happens and they HAVE to sell, they most likely will be upside down, and need to bring money to closing.

 

I was hoping we would see more listings this time of year, which is normal (seasonal), and it has increased.   (thru March we were seeing 500 new listings come on each week, but 1500 going pending)   Finally first of April we saw the new listings and pendings being about the same number, but we still need listings, badly!

Need more information - call me.   720-231-6373

 

 

Springtime in Denver

A Review of a B & B in Soldtna Alaska

When you plan a big trip to Alaska it takes a while to save, as Alaska is not a cheap vacation!

I did my due diligence through Trip Advisor, read many reviews and made reservations.   This was a great plan, but got derailed when it came to the B & B I stayed at in Soldatna.

150# Halibut caught

They don't take credit card payments, and ask that 1/2 is paid upfront, and the rest with a check upon check-in.    I didn't want to bring a check, so paid the full amount a month prior to my arrival.  Within two weeks of leaving, I get an email from the owners asking if I could transport this 18 year old man to both fishing excursions.  (one of which is 1.5 hours away)  He is not old enough to rent a car.   I immediately wrote back and said I was uncomfortable with this, being a single woman.   They sent two more emails reiterating the fact he had no transportation.   (I am thinking this is NOT my problem)

Upon check in, Monica again asked if I would transport him, and again I said I was uncomfortable.  Not sure why this took 4 times!    She said they would pay for a taxi.    This young man and I were the only two from the Lodge on this specific charter, the others were staying in Homer.

When finished fishing in the ocean (long day - 6:30 am to 6:00 pm) the other fishermen asked if I wanted to go to dinner with them, as they were all from Colorado too.  SURE, we all had a great time all day!   This young man asked if I would take him back to the B & B, and said I was going to dinner.

BE VERY CAREFUL with the fees they charge - 

Upon arrival (at 9 pm) at the B & B I saw this young man at the breakfast bar, and many of the other guests were sitting at the giant table in the dining area.   I told him, glad he made it back, and one of the staff members were talking to his mom.   Evidentally, the B & B charged double for this young man to stay at the B & B with the assurance he would have transportation.  (there is no dinner served and not many restaurants are close by)    After they paid for the taxi, they put this charge on this mom's credit card.  She was furious!    So, not only trying to get ME to transport him (and no repayment for gas or car rental), they did not hold up their end of the bargain.   Since when are other guests required to do this?    Why was this my responsibility on MY vacation?

Then one of the guests at the dining table stood up and gave me his two cents about leaving this young boy at the dock and not having a way back!   They all got up and left!   REALLY????   How about the other side of the story?

At that point I knew either I could stay in my room and not be affected by the other guests' opinions of this situation, or leave.    I did not go river fishing the next morning and asked to have my fish ready so I could leave.    I stayed in Anchorage my last night in Alaska.

Upon my return I sent an email to these owners of the Soldatna B & B asking for a one night refund of my room rate, since I was left unwelcome and not of my choosing.   They chose not even to respond.    They also charged me extra because I was single.     Strange, hotels don't charge if you are single!  

The rooms have no insulation, you hear everyone walking around at night, taking showers and using the restrooms.  

I would think twice before you book a room at this Lodge!


  

Southshore Home for Sale - Aurora CO 80016

Southshore Home for Sale - Aurora CO  80016

This beautiful luxury home has views of the Aurora Reservoir, and perfect for empty nesters desiring a main floor master.    Everything you need is on the main floor!    Gorgeous master suite with views, dual closets and a stellar five piece master bathroom along with the laundry room on the main floor!

6679 S. Robertsdale Way    Aurora, CO   80016 

Priced at $800,000

~ 5 bedrooms
~ 6 bathrooms
~ 6,158 finished square feet (including walk-out basement
~ many upgrades throughout including central vacuum system
~ two story magnificent foyer
~ Gourmet kitchen with all stainless steel appliances included, pantry and butler's pantry with extended cabinets and huge island with room for seating
~ finished walk-out basement for game room, media room, exercise room, and the wet bar & pool table included - great for sporting events!

This is a must see home, well maintained.    Southshore is a pool community, has a clubhouse with a media room and exercise room.    Access to the Aurora Reservoir is across the street with 8 miles of trails and access to many outdoor water activities.

Southshore is a stone's throw to Southlands Shopping Center, many dining venues, a movie theater, lots of retail options, and a hospital within ten minutes.

If you would like a private showing, please give Joan Cox a call at 720-231-6373.

Luxury Homes for Sale in Aurora CO

Have you made the decision to purchase a home in Aurora for over $750,000? Looking for special features in this home? Many of the homes listed in Aurora over $750,000 include many of the following features that would be included when thinking of a luxury home.

~ Secondary bedrooms with their own en-suites
~ Gourmet kitchen with upgraded cabinets, top of the line appliances and butler's pantry
~ Upgraded crown and baseboards
~ Central Vacuum system
~ Vaulted ceilings and open floor plan
~ Master bedroom closet where everything will fit
~ Hardwood flooring
~ 9 foot ceilings
~ 8 foot doors
~ Outdoor spaces with built in BBQs and/or outdoor kitchen
~ Views of Mountains or Water

Here is a link to all homes for Sale in Aurora that are priced above $750,000.

Aurora CO Luxury homes for sale

Let me know if you would like to preview some of these homes and see if the custom upgrades will be a fit for you and your family!

Aurora/Centennial Home Sales 80015 - November 2016

Aurora/Centennial Home Sales 80015 - November 2016

Aurora/Centennial CO Home Sales 80015 for the month of November showed a slight increase from the month of October. Sales were 109 in October and we saw 117 in the month of November. The average sales price was $348,000 (same from October) and sellers saw 100% to list price. This data is only for single detached family homes. The past three years, starting as early as January, inventory was low, and Sellers saw multiple offers with every listing that was priced below $400,000.

The highest priced Aurora/Centennial CO 80015 home sold in the month of November 2016 was $687,500 and was in Cherry Creek Overlook.

The lowest price Aurora/Centennial CO 80015 home sold in the month of November 2016 was $205,000 and was in Summer Valley.

Here is a link to all the current active listings in the zip code of 80015

As of today, there are 60 active detached single family homes (compared to almost 300 two years ago) ranging from $235,000 to $780,000. Days on market are only 23 days! There are 129 showing under contract ranging from $230,000 to $650,000 with only 15 days on market.

Sales data is relevant when you look back only six months. This shows what the market is doing. Sales usually slow in September due to the children returning to school.

This chart REALLY shows what the sales are doing in 80015 with Days on market increasing every month since June.




This information is for detached homes for Aurora/Centennial CO Home Sales 80015 only. Living in the zip code of 80015 will be located in the Cherry Creek School District. Each listing shows which school the kids will attend. Living in 80015 gives residents choices of Southlands Mall, Aurora shopping center or Park Meadows all within 10-15 minutes, a multitude of restaurants, many movie theaters, a bowling alley and a couple hospitals within 10 minutes.

If you would like more information on any Aurora/Centennial home, please give me a call. If you need information on multi-family properties, call me - 720-231-6373.