You have got to admit…this Fall weather has been AMAZING! On top of the weather, I personally have been enjoying all the colors with the leaves changing over the last few weeks. I used to somewhat dread the Fall because that meant Winter was coming, but it’s hard to complain when it’s like this. Hopefully this Indian summer can keep going a while longer!
I mentioned in my last newsletter this will be the last market update I do until January 2017, as we are heading into the slow season with the holidays right around the corner. The Real Living newsletters will continue around the first of every month along with my holiday greetings. So…if I don’t have a chance to speak with any of you beforehand, I want to wish everyone and very fun-filled and safe holiday season!
Denver Metro Area Home Report: September
We have seen a slight uptick in the number of active listings since the last update, but if you were to overlay this year compared to last year, the trend line looks almost identical. I would imagine we will experience a very similar trend with listings starting to diminish as we head into November, December, and into January. Then we will see our seasonal uptick in listings as we head into Spring. The big concern I have is…will the hot real estate market trend continue? In prior updates, I have voiced my concerns with the possibility of interest rates going higher, which would have an impact on home prices. Even with interest rates remaining intact, affordability in this current environment remains a key factor. The good news is we have a number companies re-locating to Colorado which will bring in higher wages to the State in the coming future. Personally, I would like to see things flatten out here but the laws of supply and demand will always dictate the marketplace. We are also starting to see new home builders take contingency deals, which 12 months ago was unheard of in this market. Higher end listings are staying on the market longer and still represents the majority of the active inventory. The highly active area still remains in the $100k-$300k price range, and in my opinion will remain there until inventory levels can level back out to line up with historical norms.
Beware high appraisal costs when buying: It’s becoming more and more concerning to witness what appraisers are charging in this current market when buying a home. There are around 600 licensed appraisers servicing the Denver market and with what I have witnessed recently this area may need to be addressed by the regulators sooner than later. In extreme examples, we have seen $1,500 to as much a $3,000 (recently charged in Park County) and this ultimately hurts the buyer who will have to pay this out of pocket.
What’s a possible strategy to get around some of this? A large part of the reason we are seeing this is people wanting to get through a 30 day close. It’s important to try and stretch your deal out as long as possible with a seller to avoid rush fees lenders often have to pay to get an appraiser out to a home which will usually end up coming out of your pocket. The best thing to do is develop a strategy to help mitigate this with all of the parties involved. It will be more challenging in a multiple offer situation, but luckily those are starting to wind down as well.
Coming Soon Listings:
As we will be updating the site some more during the slow season, make sure and visit the site on occasion as not only will we be featuring Active listings, but also coming soon listings coming up in 2017. Here are the ones in the queue so far, and if there is any interest in any of these please feel free to reach out and I’ll be more than happy to discuss these with you:
- 7938 Nile Court in Arvada – 6 bed/5 bath with 4,400+ total square feet. This property features a corner lot in a cul-de-sac in a GREAT part of Arvada. Schools, location, and absolute all around spacious home feel will make this one a keeper! Also features a 5 car (3 car attached, 2 car detached) garage, finished basement, lush landscaping w/ water feature, outdoor basketball court, huge deck space for entertaining, and much more.
- 13102 Spruce Place in Thornton – 4 bed/3 bath with 3,400+ total square feet. This beautiful home located in the Villages at Riverdale offers a nice and quiet community with parks and recreation that brings quality of life along with it! This property has plenty to offer including; open floor plan, granite counter tops, hard wood floors on main level, built in surround sound with speakers (including patio), 9ft. ceilings, open kitchen layout with island counter, gas fireplace, spacious master with 5 piece master bath, added upgrades, and the list continues! This home also features a tandem 3-car garage with an 8ft garage door to accommodate larger vehicles and provides plenty of living space with over 2,300 square feet to call home.
- 11643 Shoshone Way in Westminster – 4 bed/5 bath with over 5,200+ total square feet. Within walking distance to the newly remodeled Ranch Country Club and #1 tee box; location, open floor plan, and mother-in-law suite make this property a great one worth considering calling your home.
- 13515 Albion Circle in Thornton – 3 bed/3 bath with over 1,700+ total square feet. This home is located in the Parkridge Villages sub-division off of 136th and Colorado. We are waiting for the basement to be completed on this one, then we will be looking at getting this going early sometime next year. More to come here as well.
Here is a link to the Featured Properties page: http://fullerhomeoptions.com/featured-properties-for-sale-denver-real-estate-market/
Active/Under Contract Listings:
We have some very nice active listings at the moment, so go have a look and if you or anyone you know is interested in these or any other properties, please reach as we would love to help with any of your real estate needs!
- 2421 Ranch Reserve Ridge in Westminster: 6 bed/8 bath with 11,000+ total square feet. Luxury retreat living at the Ranch Reserve, and this house is absolutely amazing as this showcases custom home living at its finest. Visit this one at: 2421ranchreserve.com
- 321 Browns Pass in Fairplay: 5 bed/4 bath with 4,000+ square feet. This mountain paradise at Bristlecone features a main floor master, 35+ acres of peaceful serenity, fabulous custom home features, custom waterfall made from rocks on the property, and the list goes on. Visit this one at: 321brownspass.com
- 3901 Stonegrass Point in Broomfield: 4 bed/4 bath with 4,500+ total square feet. Beautiful move-in ready home across from the Broadlands Golf Course. Vaulted ceilings and high windows that allow for plenty of natural light with eat-in kitchen w/ island, built in entertainment center in family room, and master suite with 5-piece master bath! Visit this one at: http://www.recolorado.com/homes-for-sale/3901-Stonegrass-Point-Broomfield-CO-80023-179773176
- 12433 Arlington Avenue in Broomfield (Under Contract) : 6 bed/5 bath with 4,100+ total square feet. Great floor plan, great lot, and great location make this property a one of a kind in Broomfield. Visit this one at: 12433arlingtonave.com
- 540 S. Forest Street #3-103 in Denver (Under Contract): 1bed/1bath condo with a 1 car detached garage. Very nicely updated property and is move-in ready. Visit this one at: http://www.recolorado.com/homes-for-sale/540-S-Forest-Street-Bldg-3-UNIT-103-Denver-CO-80246-187393732
If you are thinking about selling, please keep us in mind! As you can see from above, we have top notch marketing packages put together to help you sell your home and get top dollar for your property. By visiting the property site addresses with the links provided, you can see we can do 3D Virtual Tours, high end photography, aerial drone photos/video, and the list continues. Look for this to even be stepped more as we head into 2017!