The Oscar Goes To...The Premier Condo Market

The Premier residential market was feeling the love in February with its sales volume increasing 6.18 percent month over month, and 12.12 percent year over year. Sellers loved that their homes were not taking as long to sell in February with the days on market down 32.74 percent from the prior month to 76 days. No President’s Day sales were happening in the Premier single-family segment of the market, as the price per square feet increased 4.32 percent from the prior month. The average price of a single-family home in the Premier market was  $589,683 - up 0.07 percent from the prior month. With 999 active residences (single-family) at the end of February, and 1.99 months of inventory, buyers had more to choose from compared to homes under $500,000, but needed to act quickly when a listing came on the market. In the category of highest year-to-date percentage increase in sales and sales volume, 2017 over 2018, the Oscar goes to…the Premier condo market at 24.83 percent sold and 23.93 percent sales volume at over $100 million. Days on market for Premier condos was striking at 237 days, down 27.30 percent from the prior month. There were 261 active listings and 3.18 months of inventory in this segment of the market, so buyers had more to choose from in the Premier condo market over other segments of the market.  Download the full March market trends report here.  

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Buy vs. rent: Guiding clients through the age-old dilemma - Inman News

With millennials’ preference toward a mobile lifestyle, the question of “buy versus rent” is prevalent among a demographic that constitutes a large segment of our first-time homebuyers.

Furthermore, baby boomers are confronted with the same question for varied reasons that include a newfound desire to be mobile and investing in a market that is appreciating from the aftermath of the recent housing bubble.

Real estate agents well-versed on the variables that determine whether a client should pursue homeownership instead of a lease, are positively guiding people through this major life decision.

So posed with the question of whether to buy or rent, what is the answer?

If you do the math, buying in booming markets such as San Francisco, New York, Boston, Los Angeles and my hometown of Denver becomes less expensive than renting over time; plus, with property values rising, it is generally favorable to purchase a home as a long-term investment.

“Renters who want to become buyers hear the buzz that there is a frenzy in the real estate marketplace with multiple offers, over list price and low inventory, so they are nervous to enter into the homebuying market, and they are sticking to renting,” said Denver-area Realtor Brigette Modglin.   <<Read More >>

Everything and more from Denver’s newest Lakehouse17

 

Denver continues to grow steadily on a daily basis, from the people who move here to the buildings popping up all over town, our beautiful city continues to grow and develop into a modern city. People come here for the comfortable way of life, the luxury of the mountains and outdoor lifestyle mixed with the extensive career choices this city has to offer. Not to mention that great work-life balance that more and more people want to have, Denver is a city allows people to find that perfect space of enjoying their job while also enjoying what the city and surrounding areas have to give.

 

With Denver being an ever-flourishing city comes more and more new additions and not just any new additions, some of the most top-notch ideas and concepts are finding their way to our front doors. Denver is looked to as a leading city when it comes to many things culturally so it’s no surprise that our real estate market is also one that gets the good end of the stick when it comes to new real estate developments.

 

One of the latest new additions coming to Denver is a beautiful eclectically designed development called Lakehouse situated on the south shore of Sloan’s Lake. This 206 high-rise development allows options for penthouse, condominium and row home living. Along with some incredible views and outdoor living spaces over looking Sloan’s Lake, Lakehouse offers a wellness center, a lakeside terrace, community spaces, private underground parking and storage, bicycle shop and an organic farm.

 

The one really distinct thing about Lakehouse is that it is the first registered project in Colorado to pursue WELL building standard. So what is WELL?  It is the world’s first building standard focused exclusively on human health and wellness. There are seven areas of the WELL building standard: air, water, nourishment, light, fitness, comfort and mind. WELL takes all of these things and marries best practices in design and construction with evidence-based medical and scientific research. All of this research and design make for a living environment that is used as a vehicle to support human health and well-being.

 

If you could find a place to live that supported your work and live vision, while helping keep you healthy and happy, wouldn’t you want to move in their immediately? I know I would! Give me a call today and let me set up a showing for you at this stunning development, see for yourself why this new spot is one of the most sought after living spaces in Denver. 

 Lakehouse17

Lakehouse17

Why Denver is the Perfect Place for Young Entrepreneurs

If I were to tell you that Denver ranks pretty high in the country for places that young entrepreneurs are moving to, would that surprise you? Probably not because we all know that Denver is one of the fastest growing cities in the United States and with our outdoor playground in our backyard, the work/life balance here attracts hard workers from all areas. Recently, Denver was ranked 9th in the nation of best cities for young entrepreneurs based on the four criteria of young adult influence, educational attainment, population growth and tax environment by MoneyRates.com.

 

The rate at which this city is growing will not slow down anytime soon and the types of jobs that the city has to offer is bringing more and more talent to Colorado. Young entrepreneurs see Denver as a place to set up shop because they don’t have the excessive cost of living, a great pick of potential workers and they get to live in one of the most beautiful states in the country. Also the location of Denver is idea for work, it is not too long of a flight from California or the Midwest (New York is always a bit of a long flight but hey, for the view of the Rocky Mountains I think many people will take the three + hour flight).

 

When many of these young entrepreneurs come to Denver they are looking for a place to set up shop or even a place they can use as a live/work space. One thing I would recommend is to look into the extensive selection of lofts this city has to offer that are ideal as live/work spaces. Since 2005, I have been specializing in lofts, specifically those in the downtown area, and my website AllDenverLofts.com is a great place to start looking for any young entrepreneur looking to move to Denver. Not only will you have a spot to work and live, but you will also own property here in Denver that is always a great investment. I constantly tell my clients that the greatest investment anyone can make for themselves in Denver right now is in real estate and the facts and numbers that recent studies have shown continue to prove that point.

 

If you are an entrepreneur looking to move to the Denver area sometime soon or anytime in the future, give me a call or email today and let’s set up a time to chat about the choices you have when it comes to looking for the perfect life/work space for your business.

 Live/work Loft At The Bolt Factory - Listed By: Phillip Svabodo, Blue Shift Real Estate  $5000/MO  8/26/16

Live/work Loft At The Bolt Factory - Listed By: Phillip Svabodo, Blue Shift Real Estate  $5000/MO

8/26/16

THE HISTORY OF BRIGHTON, CO - IT'S A REALLY COOL PLACE AND I HAVE A LISTING COMING SOON!

As you drive on the highway out of Denver, away from the city towards the towns surrounding, you may find yourself on US-85 heading towards a town called Brighton, Colorado. Just a hop, skip and jump away from Denver, or about a thirty minute drive, this small town has a lot of character as well as a lot of history. First established as a city back in the 1860’s, Brighton first possessed the name Hughes Station because of the Hughes Stagecoach Station that was built as well as the Boulder Valley Railroad. During that time, Hughes Station was a place for the railroad and fur traders to stop as everything was expanding west. In 1881, the City of Brighton was born, named after the birthplace of the founder Daniel Carmichael’s wife. From that point on, Brighton continued to grow and thrive as a city as it continues to do to this day.

Today I have a listing that I am working on that is located in Brighton, CO.  I am excited for this listing because I live in Brighton so it's close to my home and my heart as I am raising my family here.  

I moved to Brighton three years ago and let me tell you it was not a move I wanted to make.  When I thought of Brighton I though it was too far east, didn't have anything going on and it was just not interested.  When we started to look for a home we wanted something unique and custom, on some land and a place where we could maybe have horses and just spread out a little.  When you are a Realtor you work with people all day, you are in your car a lot and all you want to do when you come home is relax and enjoy your family and loved ones. 

My husband sent me a listing in Brighton and said we should go check out this home.  I said "no way, I am not moving to Brighton".  He asked me several times to go look at it and every time I turned it down.  He was persistent with me and then just scheduled the showing and I was kicking and screaming all the way there.  Well, that just happened to be the home we had been looking for and believe me we were looking for an entire year.   

Once we got settled in we realized that Brighton was not that far and there was actually a little downtown area that was screaming for some attention.  So I started to get to know Brighton a little better and even got involved a little with the redevelopment of the old Brighton Buddhist church.  I met with the city of Brighton and the Brighton Economic Development committee and learned that there is a lot planned for Brighton and the city is working hard to support the small business that are currently there, bring in new small businesses so that more people and families will move here and see what a great city it is.  

For my listing today I had the the photography done by @NoahBergPhotography and a drone video shoot done by@B&GCameraNautics and the video production will be done by Wade Holland @WadeHollandMedia.  I have never used a drone before as most of my listings are in an urban setting in Downtown Denver so it was a really fun experience.  

Well, you probably thought I was going to give you all the details didn't you. Nope, you will have to wait until next week when the listing and video goes live.  

Stay tuned....

 

What The Denver Broncos Taught Me

It wouldn’t be right to not say a little something about those football players from Denver who recently won the most coveted title in football. Congratulations to the Denver Broncos for being Super Bowl L champions! What a time to be a Broncos fan, our team had quite a year but in the end, led by Peyton Manning, the team rallied together to play a great Super Bowl game and came out victorious. There has never been so much blue and orange draped around the city and it is quite a wonderful sight to see.

After the big win on Sunday, I listened to many of the interviews with the players and the coaches and have to say, I came away with a lot of realizations about football but also about what it means to be on a team and to have one another’s backs through thick and thin. When Peyton was injured earlier this year, many people got down on him saying he was too old to play and wouldn’t ever be able to come back and play the way he once did. The truth is, Peyton is not the youngest quarterback out there, he isn’t the fastest and he isn’t the most graceful even. But he is one of the smartest quarterbacks out there, who has a team that respects and follows his lead. On and off the field, Peyton is looked up to by players, coaches and the media a like, because he is far more than just a superior football player. For a team to be successful, like the Broncos were this season, there needs to be those leaders on and off the field. The ones who encourage their fellow teammates, push themselves and others to do better, take the disappointments in stride and celebrate each and every little victory.

That kind of work ethic and leadership is something I admire and myself try to do in my everyday life. I am lucky enough to work with some amazing team members, from the company my husband and I run together to the financial organizations I help run, being a team player and a leader is something I strive to do from the time I wake up to the time I go to bed. I have encountered many bad leaders in my time, managers who lack personal skills and speak to their employees in a degrading way, co-workers who find it ok to talk badly about one another or owners who are barely seen at their companies leading many employees to wonder how important the business really is to the owner. The thing is, you can’t have a team without a leader or a group of strong leaders who support those they advise and those they mentor.

There is that saying, there is no “i” in team, and the Broncos showed us that more than anything this past weekend. The offense, the defense, the kicker and good ol’ Peyton, all took to that field and showed what it looks like when a team works together for their cause. In the end, they walked off the field all smiles, knowing they had all taken part in their great victory.

 Photo From; The Denver Post

Photo From; The Denver Post


Everyday is better with a good cup of Joe

A wise person once said, ‘everything gets better with coffee’. I will openly admit, I am a coffee person. Starting my day with a warm latte or grabbing a cappuccino in the afternoon before a meeting are always things I look forward to. What I like even more though is finding great coffee shops around Denver to try out, meeting new coffee shop owners/employees and making new relationships along the way. 

Below are a few Denver coffee shops I have frequented and made some great connections at, make sure to stop in to each and try their amazing coffee.

Hooked on ColfaxMy friends own this place so I may be biased but Hooked is a great place to escape the busy that is your day and enjoy some quality coffee. They carry a range of Colorado roasters and local companies who are committed to sourcing the best beans, ethically and sustainably. They also serve breakfast, have a stellar bakery and if you need something stronger they also offer a range of alcohol. Open from 7am-10pm daily, check them out at 3213 E. Colfax Avenue. 

Huckleberry on LarimerThis great coffee place was started inside a garage between an alley and a backyard chicken coop by two gentlemen named Mark and Koan. Today, they source coffee from the world’s best producers and honoring it through careful roasting to bring out the best taste. They have three core values, enjoy slowly, cultivate community and appreciate quality. If you find yourself near the RiNo Art District and baseball field, make sure to stop in and enjoy something delicious.

Bellwether This newly opened establishment is already making waves down on Colfax. Carrying coffee from Boxcar Roasters on tap, as well as Bulleit whiskey, this shop is a great addition to the neighborhood. Also feel like a little shopping? Make sure to check out their great brands from Ruckus to For Love and Lemons. Expect a lot of great things from this place, go check them out from 7am-7pm daily at 5126 E. Colfax Avenue.  

Black Eye Coffee For those of you in the Highlands, my guess is you already know about this gem. Black Eye features single origin coffees that are rotated every month to give you a high standard of coffee from around the world. With a roll-up garage door to allow in the sunshine and breeze on nice days, this coffee shop also offers delicious baked goods and food throughout the day. Located at 3408 Navajo St., and opening one in Capitol Hill soon, make sure to swing in and enjoy a cup of coffee. 

Wash PerkYou guess it, this quant coffee shop is located right down the street from Washington Park. A very cozy spot with couches, eclectic décor and outside seating, this coffee shop is a favorite to many locals. Offering a wide variety of delicious drinks, it is a great spot to post up after a walk around Wash pop in at 853 E Ohio Ave.

Aviano Coffee Cherry CreekA very trendy café with an open and modern design, expect some gourmet espresso drinks, pastries and more from this great spot in the heart of Cherry Creek. Located at 244 Detroit St, you can expect to pay a little more here but it is worth it to get an amazing cup of coffee.

If you ever want to grab a cup of coffee while in Denver and discuss real estate, feel free to give me a call or contact me via email and we can set something up. Always looking to try out new spots or introduce others to some of my favorite places around town. 

 

 Photo By @NoahBergPhotography

Photo By @NoahBergPhotography

Vroom Vroom, Car Shows for the July 4th Weekend

Hard to believe it is already July, where has the summer gone? I’m sure you are all getting ready to do fun activities this July 4th weekend from a backyard bbq to heading downtown to watch the great fireworks or maybe packing up the kids and heading on a little mountain road trip. There is so much to do this weekend and I know my husband and my daughter and I are excited for some particular events that have to do with old cars, a love all of us share. My husband and I have been avid car show attendees for years now, as admirers of other people’s automobiles and as displayers of some of our own antique car models. I know we are not the only people who enjoy these car shows, young and old alike take to these events and so I have prepared a list of some great shows to check out over this holiday weekend:

Cruise Lovelandevery Friday night in Loveland from May through September, come cruise the streets in your beautiful car!

 Red, White and Vroom Car Show8:00am – 3:00pm - showcasing classic and exotic cars from all over the world on July 4th.

Cars & Coffee (Weather Permitting)8:00am – 10:00am - if you are one who likes a wide range of cars from Ferraris to Corvettes to Classic muscle cars, this is the event for you. If the weather is nice come out and enjoy the line-up of exotic cars sure to put a smile on any car lovers face.

Very Fine Wheels Car Show 8:00am – 1:00pm – held at VFW Post 4171, all the proceeds from this show go to help local veterans and with limited space available, pre-registration is recommended.

18th Annual ‘Coolest Car Show’ – 10:00am – 4:00pm – this is an event for the whole family so bring everyone! Check-in time is from 8am-9:30am with an entry fee of $30, all registrants receive goodie bags and dash plaques. With an option to display your car indoors or outdoors, admission is only $5 per adult and $2 per child or $10 for the whole family. Live music, children’s activities, a raffle and silent auction accommodate this fun show!

Take the family and your favorite classic car and make sure to catch one of these great shows this weekend! And if it is time to find a new place to park your car, maybe a new three-car-garage, shoot me an e-mail or give me a call. I know it is important to have a place to park your baby and would love to help you start searching for that next spot for you!

Have a safe and happy 4th everyone!

Keep Yourself Cool This Summer

Well, summer weather is officially upon and minus the crazy days of hail and dramatic thunderstorms, the sun and warm times have found their way to Denver and I would say, bring on the summer fun! As you and the family get ready to enjoy this warm weather, I would remind you to take precautions when being out in the sun for long periods of time and have compiled a list of ways to stay hydrated whether you are enjoying a Rockies baseball game or a day of exploring in the mountains, we live in one dry climate and on top of the heat, it’s important to keep yourself hydrated!

  • Who says that you have to drink your hydration? A summer favorite fruit, watermelon, is one of the best thirst quenchers in the book. The fruit is made up of 92% water mixed with salt, calcium and a bit of magnesium making this ideal for rehydration. Also if you are more of the veggie type, celery is a good choice because the stalks are 95% water and its packed full of fiber and minerals.
  • Sometimes we just don’t want to drink water, understandable, so throw in a few other beverages such as milk (studies show it is better than both water and sports drinks for rehydration and recovery after exercise). Smoothies are both refreshing and nutritionally packed, a bonus!
  • Drink water until you feel like a fish, not really, but as humans we need a lot of water on the daily and many of us barely get even close to the right amount. For women, it’s around 11 cups a day and for men it’s around 15 cups a day but remember, that includes 20% from food intake.
  • We all love a good cocktail on a sunny patio somewhere in Denver, who doesn’t? But be careful while consuming alcoholic beverages which lead to additional fluid loss. For every alcoholic beverage you consume, make sure to have one non-alcoholic beverage, and always drink in moderation.

Besides staying hydrated it is also important to stay cool and below are a few great pools to head to with the family:

  • Denver Parks and Recreation has 13 indoor pools and 16 outdoor pools, because summer is when outdoor opens, make sure to take advantage of the ones listed:
    • Outdoor: Aztlan , Green Valley Ranch, Barnum Park, Harvey Park, Berkeley Park, Harvard Gulch, Congress Park, La Alma/Lincoln, Cook Park, Mestizo-Curtis Park, Eisenhower, Ruby Hill, Garfield Park, Southwest, Globeville Argo, Swansea

Maybe you would like to have the comfort of a pool in your own backyard? If that is the case and you are thinking it may be time to look for a new house with such pool, give me a call today and let’s grab some hydrating drinks and discuss what exactly you are looking for.

 Photo by ivanastar/iStock / Getty Images

Photo by ivanastar/iStock / Getty Images



Sprucing up your home for the big sale

Spring and summer here in Colorado are the biggest seasons for selling and buying houses. Sellers know when the weather changes, buyers are out and about looking for their next purchase. These sellers also know that putting in some money to the appearance of their house after the winter will attract more buyers, add value, and potentially give them more offers at the end of the day. One of the biggest recommendations I have for homeowners is to keep your house up-to-date with inspections, presentation and overall wellbeing. If you keep your house functioning but don't give it updates when needed or replace appliances when they falter, you will have a much bigger job on your hands when it comes time to sell your home. To be able to put your house on the market with little work will keep your selling experience less stressful and will keep buyers more interested in what your beautiful house has to offer.

I have compiled two lists; one is for things to do during the years to keep your house up-to-date and the other is what to do when it is time to put your house on the market, how to get your house selling ready!

List 1 - What to do yearly to keep your house in good condition:

  • Have your appliances checked - There are professionals out there who would be happy to stop in and check on your appliances from your water-heater to your stove. Keeping your appliances up-to-date and working properly will keep you from having expensive replacements if the new buyers find issues with the appliances before moving in.
  • Maintain your yard - Your yard really is the first things buyers will see when they pull up to your house so keeping a good curb appeal is like putting the finishing jewelry or shoes with a great outfit, the wrong shoes could wreck the whole outfit just as a yard unappealing to the eye could turn buyers off immediately. Mow, prune trees, cut bushes, pull weeds, and plant flowers yearly to keep your yard looking extra beautiful.
  • Paint, it's cheap and makes things look fresh - If you notice the paint on your house or inside your house is starting to look a bit drab, maybe it is time to add a fresh coat. Giving your house this extra love is a sure way to show potential buyers that you care about this house and care about who the house is sold to. 

List 2 - Preparing to put your house on the market:

  • First impressions are everything - This is more true then you would expect but you want every buyer to pull up to your house, enter your house and think to themselves, I could definitely live here. Curb appeal as well as entrance appeal are a must to make a potential buyer see what your wonderful house has to offer.
  • Paint, paint, paint! - Again, paint is cheap and can really add character to a room. While many of the rooms in your house should be neutral to let buyers put there own vision in each room, adding a bit of color throughout will give the house a unique appearance. Maybe even having a room or two have a theme when staging them, from a beach room to your backwoods room, giving your home that homey feel and character can really help buyers imagine what can be done in those spaces.
  • Keep it light and keep it bright - Don't over clutter your home with a bunch of furniture and decorations, you want buyers to see the amount of space in each room so arrange your furniture in each room to show off the whole area. Also, let the sunshine into each room, make sure shades are open and drapes are pulled back to let all the light into each room.
  • Focus on the heart of the home - As many people will tell you, the heart of the home can be found in the kitchen. If you are going to put money into redecorating or refurbishing rooms in your house, the kitchen is a great place to start. Update appliances and make sure to give the kitchen a real warm feeling so buyers can envision family dinners and friends coming over for potluck in that space.
  • Don't forget the garage - Yes, buyers will go look at this space!  First, make sure it is clean and then try to put up shelves and organize the area to show how that space can be used in many ways not just as a place to park cars. 
  • Hire a realtor - I cannot stress enough how much work goes into selling a house and to help you with that, make sure to really consider having a real estate agent help you. If you are looking to sell your house this summer, give me a call and I would be happy to sit down with you and go over recommendations I would have to spruce up your place to get it market ready. 
 Photo By: Victor Fossen

Photo By: Victor Fossen

How to Negotiate When Buying a Home

In today’s fast-pass housing market, especially in Denver, going to buy a home can seem like an experience at an auction house. You know what I’m talking about right? Where the auctioneer (here being the home owner) has the ultimate say and you and a good dozen people stand around hoping to make the final offer and hear those magic words of “Sold!”.

So how can you best prepare when going in to negotiate? What is the best way to approach an initial offer, decide on a good price, and finally, sign on the dotted line for ownership to the house of your dreams?

Well first thing is first, you need to have help in your corner from day 1. Working with a REALTOR® is going to put you ahead of the curve because REALTORS know the industry inside and out. We know how to negotiate with sellers and buyers, we know the neighborhoods and what houses are worth, and finally, we know how to get down and creative if we need to in order to help negotiate the best price and outcome for you and your family.

First and foremost, when looking to buy or sell and when it comes to negotiations, find a good REALTOR® and even better a REALTOR® who is an MCNE ( Master Certified Negotiation Expert) (if you are looking currently feel free to give me a call, happy to talk with you).  But here are some other suggestions when it comes times to negotiate for the house of your dreams.

Denver is currently in a sellers’ market, meaning that there is a high demand for houses and sellers’ hold the power. In this type of market you need to move quick when it comes to a desirable house and make a good connection with the buyer. If a buyer doesn’t like your offer, they won’t spend a lot of time negotiating with you. So when working in this market, keep it very simple in the steps to make before negotiating and the steps during negotiation:

  •  In any market, it is essential to get pre-approved right away for a loan. If a seller sees you have the means to purchase their house that always makes them more comfortable with negotiating.
  • Go in strong with your offer, offer the asking price or something close to it.
  • Consider writing a personal letter with your offer or even add a photo to let the seller see who the potential buyers are and an image of the new people who would enjoy the home just as much as the seller did.
  • Ask only for the standard contingencies — financing, appraisal and inspection — to protect yourself down the road.
  • If you really like the home, be prepared to move quickly, houses do not last long in this market.

With all of these negotiation tools in your back pocket, it is exciting to think about finding that perfect home to call your own. Always remember, REALTORS are here to help you through the processes and are your advocate and if you are looking to buy or sell, don’t hesitate to give me a call and chat about what you are looking for, I am more than happy to lend any and all master negotiation skills I have!

 Photo by alengo/iStock / Getty Images

Photo by alengo/iStock / Getty Images

Source: htt://www.brigettemodglin.com

Paying Over List Price

Spring has sprung around the Denver area and with the changing of seasons and new life sprouting everywhere there also begins the new busy season in the housing market. Have you decided this spring might be the perfect time to start looking for that dream home of yours? There is no time like the present and as Denver continues to grow on the daily, if you are ready to purchase a home, start looking today but be prepared for what you might run into along the way.

 In the Denver market, many buyers are paying over the list price, which can be hard or uncomfortable when you are entering the market with a specific budget in mind. Due to this being a sellers market where homes sell quickly and sellers have a lot of pricing power often even the appropriately priced homes in the Denver metro region sell quickly and receive multiple offers and even cash on the spot offers. In the last month alone, 48 homes in Denver urban neighborhoods went under contract in 7 days or less and sold for 102% of their original list price. The seller and the listing agent determine the list price based on the current market and by comparing recent sales of similar homes. If priced well, the home will fall within a verifiable range based on those sales. Please understand this is a range and there is not set number.  To ensure the home is priced accordingly, ask your Realtor to look at sold and under contract comps in the neighborhood and to discuss those with you.

 With record low inventory and high buyer demand this is causing homes in the Denver metro region to appreciate rapidly. The rule of thumb is to look at comps within the last three months.  If you look back further than three months this can skew your price point and your mental willingness to aggressively pursue the home. Denver homes appreciated at an average of 17% over the last year. This means that the home you could have purchased 12 months ago for 400k is now worth 451k. This provides a solid case and can make you more comfortable when offering over list price. One thing not to do is wait to make an aggressive offer until you have searched for months and lost out on several homes due to being outbid because you could very well price yourself out of the market.  Here are some guidelines you and your agent can employ to help you get under contract and into your next home:

·       Pursue homes priced below the top of your price range. Giving yourself a 3-5% financial buffer will allow you to comfortably bid over list price, providing you a competitive edge and more leverage.  

·       Unless you are paying cash for the property, an appraisal will be required. The appraisal is an official report comparing similar properties (comps) to determine the value of the home you are purchasing. The lender will use this appraised value to determine how much money they will lend to you. If the offer you submitted on the property is higher than the appraised value, you will need to account for the difference.

·       As the buyer, be prepared to make up that difference by bringing cash to the closing table. If the seller is willing to negotiate, they may adjust the purchase price or look to find a compromise between the two. If you reviewed the comps with your Realtor prior to making an offer, you should have a realistic idea of the value of the property.

If your offer far exceeded the homes estimated value, in order to get under contract, there is a good chance the deal will crash at appraisal. Another buyer, the one with the solid and realistic backup offer, is waiting for this to happen. Moral of the story: Make sure you can follow through on your offer before submitting it.

·       Consider terms when writing a competitive offer. The highest offer is not always the deciding factor for sellers. In other words, those with the most money do not always win. A well-written contract with terms that address the seller’s needs is equally important. Does the seller need to find a replacement home? If so, your offer should allow them time to do just that. Will they consider making a concession for updates or closing costs? If not, don’t ask for them in your initial offer. Are there any other offers on the property? If so, you need to adjust your offer accordingly. An experienced Realtor will call the listing agent to ask questions specific to your purchase, allowing you to craft an offer that works well for both parties. The fact of the matter is: If multiple parties are imagining living in the home you love, you’ve got to move past the list price before putting out the welcome mat. Talk to your Realtor about thoughtful strategies to secure your next home.

 If you think you are ready to dive in and start looking, start your search here. I know how daunting it can be to begin looking for that dream house of yours and I am here to help you take those first and last steps to securing that special place.