Coloradans Are Equity Rich

Have you heard the news lately about the Denver Real Estate Market? The market is cooling, Supply is up and demand is down. It sounds all doom and gloom but its not as bad as you may think. There is a huge opportunity for Sellers and Buyers in our real estate market right now. 29.6% of Coloradans are Equity Rich, which means they have more than 50% equity in their homes. 98.3% have positive equity, making this an amazing time to sell in order to consolidate debt and move into their dream home.  Even if you move into a higher priced home and have a higher mortgage payment, if you pay off all your debt like your cars, credit cars, student loans, etc, you will build more wealth than if you stay where you are and keep paying on your debt that isn’t gaining you any equity or wealth.

Yes, the market has slowed down a little as the days on market is up but Sellers, who price their home right, are still selling quickly with days on the market of 26 days compared to 3 months in a balanced market.

Buyers it’s still a great time to buy even with the interest rates at around 5%. I purchased my first home at 6%. People were buying homes in the 80’s at 18% but they still purchased as there is no better way to build wealth than buying a home.

Inventory is up and that is such great news because we’ve been so low for so long and in my opinion it wasn’t a healthy market and a way to buy a home. There was a frenzy to have to get to a listing the minute it hit the market, make a decision and get it under contract within hours of it hitting the market. Because of this Buyers were not making good decisions about buying the house and around 25% of contracts were falling bas Buyers would back out of the contract due to inspection items and Seller’s wouldn’t do any repairs because they had another Buyer as a back-up. Again, this was just not a healthy way to purchase a home.

With more inventory means better decisions can be made and Buyers can take their time and buy the right house for them. This goes for Seller’s too as Sellers will not have to fear putting their house on the market and it selling within 7-20 days and not knowing where they are going to go next. They can now put their home on the market and have more options on their next move.

Were in a sweet spot in the market and it’s time to take advantage of it and either buy or sell.

It’s always a big decision to buy or sell so let me help you understand the numbers and even share some older historical data to show you what our cycles have been like so you can feel more comfortable with your decision.

Feel free to give me a call or lets sit down for coffee. I would love to help you with your next move! Brigette Modglin, 303-408-2600

How Busy Parents Can Prep a Home for Sale Without the Stress

Preparing a home to put it on the market can easily become an overwhelming job, especially if it’s a big house or if you’re already busy with a hundred other responsibilities. When you’re also a parent, the thought of trying to clean and organize an entire house and keep it that way for buyers can be a nightmare that doesn’t end until the home is sold. Creating a clean, odor-free, clutter-free space is essential if you want to make a quick sale, however, and that’s imperative because the longer a house sits on the market, the harder it is to find a buyer.

Fortunately, there are some stress-free ways you can get your home ready for a sale even when you’re busy with work and the kids. From keeping pets confined to one area of the house to hiring a professional stager to come in and depersonalize, there are options that will allow you to get your house looking gorgeous for potential buyers so you can make a fast sale.

Keep reading for great tips on how to get started without the stress, no matter how busy you are.

Remove Stains and Odors

One of the most difficult parts of getting a home ready for visitors is making sure everything is clean and odor-free. This can be hard when you have small children or pets, but it’s an essential part of the staging process, especially since the first thing most buyers notice when they walk into a home is the way it smells. If there are pet stains on the carpets, have them steam-cleaned. Upholstery and draperies can also be steam-cleaned for a fresh scent that will last quite a while. You can also use simple household ingredients, such as hot water, lemon juice, and baking soda, to clean and remove those stubborn lingering odors.

Hire a Stager

If you have the extra money to spend, it can be extremely helpful to hire a professional to come in and stage your home to sell. Not only will they be able to help depersonalize each room and make it more appealing to a buyer, but they can also tell you what needs to be done as far as cleaning and furniture position goes. For instance, many sellers will remove one piece of furniture from each room to make the space appear bigger, or they may choose to update an area by removing dated light fixtures. These little changes can make a big difference when it comes time to sell, but keep in mind that the average cost of hiring a pro is about $822.

Give the Bedroom Some Appeal

While there are many aspects to an appealing home -- and while every buyer has different needs -- the one thing most people can agree on is that the bedroom needs to look inviting. Even though the furniture and bedding will be going with you, setting up a beautiful, relaxing space for buyers will help them see the potential. Make the bed a multi-layered affair with lots of soft, plump bedding and pillows, and paint the walls a calming color such as blue or green.

Open Up the Space

There are lots of tips and tricks when it comes to making a space appear larger and more open, but two of the most simple are adding mirrors and going vertical with paint and furniture. If you’re working with a smallish space, the best way to make it seem like it’s not closed-in is to add tall bookshelves rather than going wide, paint the ceiling so the eye is drawn upward, use light colors, and use mirrors to suggest a bigger area.

With so many of us struggling each day to find the time to do even the most basic tasks, it’s no wonder that trying to prep a home for sale is overwhelming. When you’re a busy parent, it can be difficult to stay on top of the cleaning and prep work, but with these simple suggestions, you can make any space in your home ready for an open house.

Guest Blog Written by: Kristin Louis

Photo via Pixabay by  Programmingibc

Photo via Pixabay by Programmingibc