November's Market Snapshot

So, what is happening in our local real estate market?
Now that we are in the full swing of the holiday season, we would expect some market cooling.  So far, the market remains robust.
This market is still improving.  Time on the market is down all over Metro Denver (averaging 70 days).  Many buyer's are still facing competitive bids from other buyers.  Overall, in Metro Denver, inventory remains low at about 30% down from this time last year...

Are you ready to talk about your options?  For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak Cynthia TODAY!

October Market Snapshot

Ahhh, the Holiday Season.  Normally, it's a time to think about friends , family, and gratitude.  But with the demand for housing still being high, many buyers are also still shopping for homes.   Buyer's continue facing competitive offers from other buyers continuing to drive prices up.  Are you waiting?  Remember, just a 5% increase in home prices can cost you thousands...
 
Metro Denver, inventory remains low at 31% down from this time last year and average sales prices up over 12%. Some areas are seeing inventory reduce to 60% less that this time a year ago. The refinance market is also a contributing factor as some seller's are opting to refinance and stay put.
 
Are you ready to talk about your options?  For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak Cynthia TODAY!

 

Come Join Us This Saturday, October 27th from 12- 4pm!!!

 

Come Join Us This Saturday, October 27th from 12- 4pm!!! 

Pop-by, say "hi", and get your FREE pumpkin!

*Oh, by the way, if you know of someone who would appreciate the level of service I provide, 
please call me with their name and business number. 
....I'll be happy to follow up and take great care of them.

Choosing a Professional Home Inspector

Choosing a Professional Home Inspector

There are approximately 30,000 home inspectors nationwide today. Only about half of the states require any kind of certification or licensing for home inspectors. So how do you know you are recommending the best home inspectors to your clients?

Hiring the right home inspector is as important as the actual home inspection itself. As with most professions, both qualified and unqualified individuals can claim to be "professionals," but what makes the home inspection industry especially vulnerable is the fact that it is currently unregulated in most states. Here are some ways you can protect your clients from hiring an unqualified inspector:

Busy real estate professionals are likely to have a list of inspectors ready to refer to clients. As those lists change due to retirement, relocation and other reasons, it's a good idea to always be on the lookout for professional home inspectors to add to your referral list. Follow up with clients immediately after the inspection and then again six months down the road. They may say they were happy with an inspector immediately following the inspection, but when problems are uncovered during the first year of homeownership that a home inspection should have found, clients may change their mind on a recommendation.

After recommending home inspectors to your clients, encourage them to do their own research. They should be asking potential inspectors for their qualifications, professional affiliations and certifications. Professional association affiliations can include membership in the National Association of Home Inspectors and American Society of Home Inspectors. Members of both of these organizations are committed to standards of practices and codes of ethics.

Inquire about insurance. Professional home inspectors carry Errors and Omissions insurance (E&O), which can protect your client if the inspector makes a mistake. Home inspectors should also carry commercial general liability insurance.

Do not refer or hire inspectors who either perform repairs or refer contractors. Although some states allow this, it could potentially represent a conflict of interest.

Ask for a sample home inspection report. A good report will clearly state the problem, explain the significance and recommend a course of action. Many inspectors also offer home maintenance guides that contain information about how a home works, how to properly maintain it, repair cost estimates, seasonal maintenance checklists and various ways to save energy.

Ask home inspectors about the technology used during the inspection. Look for inspectors who use computers and take photos during inspections and incorporate those photos into the report.

A professional home inspector will tag all accessible shut-offs within the home. This is a great added value for homeowners unfamiliar with the inner workings of a home.

Ask how long the home inspection will take. Most inspections take at least three hours, some longer, depending on the size of the house and the nature of the inspection. Encourage your clients to stay for the duration and to shadow the inspector and ask questions about noted problems. Many things uncovered in home inspections are easy fixes and should not lead to a deal falling through.

Know when to call in an expert. If your client is looking at a home with a pool, make sure the inspector has experience with pools. Additionally, if your client is concerned about mold, radon or lead paint, make sure the home inspector has the ability to do the proper testing.

Dan Steward is the president of Pillar To Post Home Inspections.

For more information, visit www.pillartopost.com.

 

Committed to your success,
Cynthia

* Oh, by the way, if you know of someone who would appreciate the level of service I provide, please call me with their name and business number. I'll be happy to follow up and take great care of them.

Cynthia M. Parker, ABR®, SFR®, CDPE®
Broker Associate
"Marketing your home for all it's worth"!

RE/MAX Alliance
1873 S. Bellaire St., Suite 700
Denver, CO 80222
Office: (303) 757-7474
Mobile: (303) 563-9700
Fax: 866-673-0053
E-mail: cynthia@cynthiamparker.com
Web site: http://www.CynthiaMParker.com

BUYERS: "Find out how to buy a home with for as little as $ 1,000 down"...visit: http://www.FreeCOHomeInfo.com
SELLERS: "Find out what the home down the street from you just sold for"... visit: http://www.HomePricesInYourArea.net

September Market Snapshot

So, what is happening in our local real estate market?

This weather is cooling but this market isn't.  With nearly one solid year of month-over-month improvement, it's fair to say....we have definitely turned a corner.  Buyer's continue facing multiple offers and competitive offers from other buyers. Potential sellers, are beginning to see opportunity to move up to that dream home, with some in equity positions.

Metro Denver, inventory remains low at 32% down from this time last year and average sales prices up over 11%. Some areas are seeing inventory reduce to 60% less that this time a year ago. The refinance market is also a contributing factor as some seller's are opting to refinance and stay put.

The market is heating up....don't get burned. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak Cynthia TODAY!

One in Five Say It’s a Good Time to Sell

One in Five Say It’s a Good Time to Sell
-Rismedia
By Steve Cook

Last month the largest percentage of Americans since the housing bust said they believe it’s a good time to sell a house, according to the latest Fannie Mae National Housing Survey.
Results from the survey show Americans’ optimism about the recovery of the housing market, and that homeownership continued its gradual climb, bolstered by a series of mortgage rate decreases experienced throughout the summer. Consumer attitudes about the economy also improved substantially last month, breaking the progression of waning confidence seen during much of this year.

Survey respondents expect home prices to increase an average of 1.5 percent in the next year. The share who says mortgage rates will increase in the next 12 months dropped 7 percentage points to 33 percent. Nineteen percent of those surveyed say now is a good time to sell, marking the highest level since the survey began in June 2010. Tying the June 2012 level (and the all-time high since the survey’s inception), 69 percent of respondents said they would buy if they were going to move.

With regard to the economy overall, 41 percent of consumers now believe the economy is on the right track, up from 33 percent last month, while 53 percent believe the economy is on the wrong track, compared with 60 percent the prior month. Both the right track and wrong track figures mark the highest and the lowest readings, respectively, since the survey began in June 2010.

Thirty-seven percent of those surveyed expect home prices to go up in the next year, the highest level since the survey’s inception in June 2010. Thirty-three percent of respondents say mortgage rates will go up in the next year, a decrease of 7 percentage points since last month. Those who say now is a good time to buy dipped slightly to 72 percent.

Consumer optimism climbed in September, with 41 percent saying the economy is on the right track—the highest level recorded since the survey’s inception and an 8 percentage point increase over last month. Forty-four percent of respondents expect their personal financial situation to improve over the next year, up from 42 percent in August.

The share of respondents who say their household income is significantly higher than it was 12 months ago decreased by 3 percentage points to 17 percent. Thirty-four percent of those surveyed say their household expenses are significantly

For more information, visit www.realestateeconomywatch.com

July's Market Snapshot

So, what is happening in our local real estate market? 

This market remains hot. In some neighborhoods, houses are selling in days, not months. Many buyer's continue facing multiple offers and competitive offers from other buyers. Sellers, while still eager to negotiate, are scrutinizing buyer's credentials much more than in recent years. 

Metro Denver, inventory remains low at 38% down from this time last year and average sales prices up over 11%.  Some areas are seeing inventory reduce to 60% less that this time a year ago.  The refinance market is also a contributing factor as some seller's are opting to refinance and stay put.

The market is heating up....don't get burned. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak Cynthia TODAY!

June's Market Snapshot

So, what is happening in our local real estate market?
This market is super hot, even hotter than our record temps. In some neighborhoods, house are selling in days, not months. Many buyer's are facing multiple offers and competitive offers from other buyers. Sellers are happy that at least overall, the pendulum appears to be headed back in their direction. 

Metro Denver, inventory remains low at 40% down from this time last year and average sales prices up over 11%.  All this, and new historic new low interest rate means that the prime selling and buying season will be unlike anything we've seen in recent years...

The market is heating up....don't get burned. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak Cynthia TODAY!

May Market Snapshot

So, what is happening in our local real estate market?
This market is super hot. In some neighborhoods, house are selling in days, not months. Many buyer's are facing multiple offers and competitive offers from competing buyers. Overall, in Metro Denver, inventory remains low at 40% down from this time last year. All this, and new historic new low interest rate means that the prime selling and buying season will be unlike anything we've seen in recent years...

The market is heating up....don't get burned. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak with us directly.

Did you know the average residential home price in Metro Denver has risen 10.5% since last April?

Did you know the average residential home price in Metro Denver has risen 10.5% since last April?

This April, the avg residential home price was $275,241, according to Denver Metrolist.  In April 2011, the average was $246,340.

So what does this mean for you?

Well, if the current trend continues, based on a $200,000 house, currently listed for sale, you can expect to pay  $5,220 by waiting 3 months and $10,440 more by waiting 6 more months.  And these numbers don't take into consideration any rise (which may or may not happen) in interest rates.

Here's what we know, as the pendulum that swings back between seller's and buyer's markets, begins to swing back to favor seller's, any concession in pricing from seller's will evaporate...and so will the chances of finding great bargains. 

Call me today, to get things moving...

Cynthia M. Parker (303) 300-8989

April Market Snapshot

So, what is happening in our local real estate market?
This market is super hot.  In some neighborhoods, house are selling in days, not months.  Many buyer's are facing multiple offers and competitive bid from competing buyers.  Overall, in Metro Denver, inventory remains low at 42% down from this time last year.  All this, and new historic new low interest rate means that the prime selling and buying season will be unlike anything we've seen in recent years...

The market is heating up....don't be left behind. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak with us directly.

March Pending Home Sales Rise, Market Recovering

March Pending Home Sales Rise, Market Recovering


RISMEDIA, Monday, April 30, 2012— Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. "First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good," he says.

"The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses," Yun says.

The PHSI in the Northeast slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011. In the Midwest the index declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago. Pending home sales in the South rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011. In the West the index increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.

The National Association of REALTORS®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

NOTE: Existing-home sales for April will be reported May 22, the next Pending Home Sales Index will be released May 30 and first quarter metro area home prices will be released May 9; release times are 10:00 a.m. EDT.

March's Market Snapshot

So, what is happening in our local real estate market?


Inventory continues to be low. The number of houses currently on the market, remain very low month over month. With an overall 42% decline in inventory, the market is getting hotter by the day....don't be left behind. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak with us directly.
 

February Market Snapshot

So, what is happening in our local real estate market?

Inventory continues to dwindle. The number of houses currently on the market, are even lower than they were previously. With an overall 42% decline in inventory, the market is getting hotter by the day....don't be left behind. For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak with us directly.

Deadline to Request Mortgage Review Extended to July 31

Deadline to Request Mortgage Review Extended to July 31

RISMEDIA, Thursday, February 23, 2012— People seeking a review of their mortgage foreclosures under the Federal banking agencies' Independent Foreclosure Review now have until July 31, 2012, to submit their requests. The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) announced yesterday that the deadline for submitting requests for review under the Independent Foreclosure Review has been extended. The new deadline, July 31, 2012, provides an additional three months for borrowers to request a review if they believe they suffered financial injury as a result of errors in foreclosure actions on their homes in 2009 or 2010 by one of the servicers covered by enforcement actions issued in April 2011. The deadline extension provides more time to increase awareness of how eligible people may request a review through the Independent Foreclosure Review process and to encourage the broadest participation possible. As part of enforcement actions issued in April 2011, the OCC, Federal Reserve, and the Office of Thrift Supervision required 14 large mortgage servicers to retain independent consultants to conduct a comprehensive review of foreclosure activity in 2009 and 2010 to identify borrowers who may have been financially injured due to errors, misrepresentations, or other deficiencies in the foreclosure process. If the review finds that financial injury occurred, the borrower may receive compensation or other remedy. Borrowers are eligible for an Independent Foreclosure Review if they meet the following basic criteria: • The mortgage loan was serviced by one of the participating mortgage servicers. • The mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010. • The property securing the mortgage loan was the borrower's primary residence. For more information, visit www.occ.gov/independentforeclosurereview.

January's Market Snapshot

So, what is happening in our local real estate market?

Inventory continues to dwindle.  The number of houses currently on the market, are even lower than they were in November.  The market is heating up....don't be left behind.  For a more detailed report on your specific area, visit: Home Market Report or call 303-300-8989, to speak with us directly.