Two Important Parts of the Buying Process in Denver

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I've recently covered topics concerning how hot the Denver real estate market is and what you can do to win offers on a home. However, I haven't instructed my clients on what to do after they've won the offer, so today we'll be speaking about the actual process of purchasing.

The most important thing that I can tell you to do once you've won an offer on a home is to not mess with anything that's related to your finances. Don't pay off credit cards, don't buy a new car or boat, and don't make any other large purchases. If you absolutely need to do so, speak with your lender before you make any financial transactions like these. 

I've seen clients get excited after they win a home, and they go out and celebrate by purchasing furniture and credit cards, and then they're turned down for the loan because of it.

Another important part of the buying process is having home inspections done on your future property. These inspections are really geared towards safety, because the FHA requires certain things out of homes. 

These home inspections won't really deal with any cosmetic concerns because the Denver market is so hot right now that they aren't a huge deal. 

As always, if you need help buying or selling in Denver, please don't hesitate to contact me!

Want an Easy Way to Find Good Homes?

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Today I want to show you our fabulous new Keller Williams real estate app. If you'd like to use it, just send me your phone number and I can share the app with you.

This app has some fantastic features, and it will allow you to drive through areas and look at potential homes. It has a great mapping feature that allows you to look at many different areas. 

You can click on properties, view their features such as bedrooms and price, and you can also set up showings with the click of a button. All of the homes in this app are very current to our market. This app is updated with accurate information every few minutes, making it much more reliable than Zillow or Trulia.

In a competitive market like the one we have in Denver, this could mean the difference between finding a good home and a great home. 

Please contact me if you'd like to use this app!

5 Ways to Survive in the Competitive Denver Real Estate Market

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We have a competitive market here in Denver, and we're in a very hot seller's market. We're seeing homes go for well over their asking price and multiple offers are extremely common right now. In light of this situation, I'm going to present you with five different ways in which you can improve your chances to win in multiple offer situations.

1. Financial Package: This may be the largest purchase in your whole life, so you want a well-qualified and reputable lender. You will need a pre-approval letter, and you need to be able to show the correct documentation to prove that you are able to afford the property.
2. Personal Touch: Write a 'love letter' to the seller letting them know that you're not an investor. Let them know your plans with the home and how you're going to improve it. Sellers are much more likely to choose you if they can trust you, and we've seen homes sell because of this. 
3. Don't Low-ball: This market doesn't cater to low-ballers. Sellers will not respond to offers that are too low, because the market is just too competitive right now. If the house is overpriced, we can send comparable listings to prove that our offer is a decent one.
4. Move Fast and Push Your Limits: This relates back to #1, because when you're out there searching for homes, you're probably going to find something that will push your budget into a squeeze. However, the market is hot and you may need to be ready to push your limits if you really want the property. I'm not telling you to overspend, but be prepared to spend more than you had previously thought. 
5. Learn New Tricks: In a competitive market like this one, you need to use all the tricks you can to stay ahead. We have a few different strategies that may help you, and we would love to share them with you if you're looking to buy a home in Denver this year. 

Hopefully these tips will help you to stay above water in the Denver real estate market. Please don't hesitate to contact me if you need help buying or selling!

How to Buy and Sell Your Denver Home Simultaneously

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There are a lot of advantages to selling your home before you buy another. Chief among these reasons is that you double-leverage your money. It takes a lot of precise timing, but I pride myself on being able to assist my clients in situations like these. I'll talk about three different ways that you can buy and sell simultaneously.


1. You can sell your home first and then use those proceeds to purchase another property. This gives you more time to sell and increases your chances of selling for top dollar. However, you may have to rush into buying another home or move into a rental property. You would have to move twice in that case, which nobody likes.

2. Your other option is to buy before you sell and get two mortgages. This isn't financially feasible for most people, but this does allow a lot of time to buy and sell the homes. This gives you a lot of power as a seller and as a buyer.

3. Lastly, you can try to time the purchase and sale of two properties right at the same time. This can be accomplished with some contingencies written into your buying and selling contracts. This can seem like a logistical nightmare, but we do have strategies that have worked for clients in the past.

Please be sure to contact us with any questions about this process. We would like to make your move as easy and stress free as possible.

We would love to help you sell your Denver home!

5 Reasons Why Now Is the Time To Buy a Home in Denver

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Affordability is at an all-time high right now. Interest rates are low, and loan products from Fannie Mae and Freddie Mac are allowing consumers to buy with only 3% down. Even rates for private mortgage insurance have dropped, making 2015 a fantastic year to invest in a home. It's difficult for me to imagine a better time to purchase, and on top of these incentives, I have five more reasons why owning a home is beneficial to you.

1. Homeownership leverages your money: If you purchase a home, it's likely going to appreciate in price, so you own an investment that you should make a profit on. In Colorado, homes have appreciated by an average of 12% per year. Other than regular maintenance, there is not a whole lot you have to do to profit off of an investment like a home. 
2. You're paying for housing anyway: You have to pay for housing either way, so why help to pay off someone else's mortgage when you rent a home? When you own a home, your monthly payments go towards an investment that you can gain equity in. With rising rent prices in Denver, it just makes a lot of sense to buy a home right now. 
3. It's a form of forced savings: You're making a monthly payment, a portion of which goes toward your principle balance, and in 15 or 30 years, you will have the savings of your home's value. This is incredibly important if you wish to have financial security in the future.
4. Major tax benefits: Property taxes are deductible, and mortgage interest is tax-deductible. There are many tax cuts that you receive when you own a home as opposed to when you pay rent on a property. Also, it's becoming more affordable to pay a monthly mortgage than to pay rent each month, and this is especially true here in Denver.
5. A home protects against inflation: When inflation occurs, your home gains value, so your equity increases and your wealth does too. This is huge, and with the amount of appreciation we're seeing, you can gain equity extremely quickly. 

If you're renting right now, I suggest you start considering a home purchase. Homes are wonderful investments for the future, and there are actually a lot more benefits to homeownership than I could discuss in the time frame of this video. Please feel free to reach out to me to learn more.

As always, please come to me with any questions or concerns about real estate in Denver!

Denver Real Estate Market Update

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The spring real estate market is off to a good start, and many people are wondering whether we're situated in a buyer's market or a seller's market. The truth is that we're in a very hot seller's market in the Denver metro area. 

Homes are going quickly and for more than the asking price. Inventory is extremely low right now and this is creating a scorching hot market. There are about half as many homes as we need right now.

If you're buying, you need to be pre-approved and you need to act quickly. Homes are flying off the market, so you need to know what you want and go out and get it. 

If you need any assistance buying or selling in Denver, please don't hesitate to contact me. I'm always here to help!