The Home Smiths Team Real Estate Advisory

How We Helped Adam Sell His Home in a Timely Matter

info@homesmiths.com (Jeff Smith) — Thu, 29 Jun 2017 08:45:00 -0700

“The results were great! He, by far, exceeded our expectation and it was great. He handled everything as timely as possible and it was flawless. He found somebody last minute to get the sprinkler system fixed when my guy dropped the ball and wasn’t able to do it right at the end. Adam was able to get someone to get it fixed before the deadline.”

Can You Save Money by Itemizing Your Taxes This Year?

info@homesmiths.com (Jeff Smith) — Mon, 27 Mar 2017 12:01:00 -0700

Did you buy a house in 2016? You might be wondering if you should take the standard tax deduction or to itemize them. Here’s how to find out which makes more sense for you.

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If you purchased a house in 2016, you’re probably considering whether you should itemize your taxes or take the standard deduction. The first thing you want to do is add up all the costs of buying the house. Find your closing settlement statement to figure out your loan costs and fees, which can be deducted. These fees include your application fee and underwriter fee, among others. Your biggest item on this list will be your mortgage interest, and the best place to find this is probably your last statement. You can also deduct property taxes, but only for the period of time that you’ve owned the home. If you put down less than 20% to buy your home and you have mortgage insurance, it can be itemized as well.

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If your costs exceed the standard deduction amount, you’ll save money by itemizing your taxes.

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Add up that list and compare it to the standard deduction; $6,300 for a single person or $12,600 if you’re married. If your list of costs exceeds the standard deduction, it makes more sense to itemize your taxes. If you have any questions for us or you need a referral for a great accountant to help you out, we’re always here to help. Just give us a call or send us an email soon.

What Makes Denver's Market So "Sweet?"

info@homesmiths.com (Jeff Smith) — Thu, 9 Feb 2017 09:10:00 -0800

The Denver market is sweet for buyers and sellers alike. Here’s how.

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The Denver market is pretty sweet right now, whether you’re buying or selling. We are experiencing one of the best job markets ever, we have one of the lowest unemployment rates in the country, and one of the most active real estate markets as well. If you’re a homeowner already, you know the market has been sweet if you’ve taken advantage of the great appreciation we’ve seen over the last few years. In some years, we’ve seen over 10% appreciation. If you’re thinking about selling, things are looking pretty good for you right now. As a buyer, don’t lose hope. We have a fairly affordable market here in Denver because of our low interest rates. They are still only at 4% right now. However, the Federal Reserve is talking about raising them at least three times this year. If you’re thinking about buying a home any time in the next few years, now is the time to consider making a move.

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Some homes have seen double-digit appreciation.

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With Valentine’s Day right around the corner, we want to treat our great clients to a box of candy. We’ll be handing them out on February 13th and February 14th at our office from 10 a.m. to 3 p.m. If you just give us a call or send us an email letting us know you’re coming, we’ll set aside a box especially for you.

If you have any other questions for us or if you’re looking to buy or sell sometime soon, give us a call or send us an email. We would love to hear from you.

Should You Take Advantage of Our Current Interest Rates?

info@homesmiths.com (Jeff Smith) — Tue, 13 Dec 2016 10:57:00 -0800

Our interest rates are still historically low. If you wait to buy a home, you’d be missing out on a golden opportunity to save money in the long run.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Value Report

In case you haven’t heard, we’re still experiencing historically low interest rates. Right now, if you look at all the different types of financing, our interest rates are hovering around 3.6%. What can you do about it? How are they affecting your purchasing power?

First, you must know that these rates are not going to stay around forever. When I first got into the business—nearly 30 years ago—I remember that they were trending around 8%, 9%, and 10%. My parents had it worse when they were buying houses—they had to deal with rates as high as 15%!

To demonstrate the purchasing power our current rates offer and what it means to you if you wait and miss out on this opportunity, take a look at the chart below:

As you can see, with a 3.75% loan, your principal and interest payment would be about $1,852 on a $400,000 home. If you go a full percentage point higher to 4.75%, your payment would increase to $1,878. Some experts are predicting that within the next 12 months, our rates could very well rise that full percentage point.

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Don’t miss out on these historically low rates.

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How does this affect the purchase of the house? Essentially, for the exact same payment, your purchase price goes down by 10%. You’re no longer looking at a $400,000 house for that same payment; you’re looking at a $360,000 house. You would be buying less home for the same monthly payment just for that 1% increase.

Here’s another chart for historical reference:

As you can see, back in the 1970s, we were close to 9% for an average rate. In the 1980s, we were at almost 13%. In the 1990s, the average dipped down to close to 8%. Then in the 2000s, it dropped even further to 6.3%. At those times, those rates were considered completely normal.

Do you see how fortunate we are? Now is clearly the time to buy. Our average prices are up 10% from what they were last year, but that’s missing the point. By buying now, you will pay less over the long run.

If you have any questions about buying or selling a house or you’d like me to run these rates for you at a different price range, please don’t hesitate to give us a call or shoot us an email. We’d be happy to help!

How to Use Real Estate for Retirement

info@homesmiths.com (Jeff Smith) — Tue, 22 Nov 2016 10:04:00 -0800

A self-directed IRA lets you invest in real estate for your retirement. In addition to diversifying your retirement portfolio, there are many other benefits to the self-directed IRA.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Value Report

If you are an investor, feel comfortable in real estate, and want to diversify your retirement portfolio, I recommend setting up a self-directed IRA.

If you don’t like that your 401K or other IRA dollars are subject to the stock market, the self-directed IRA gives you more control by allowing you to use those funds to purchase real estate.

What kinds of real estate can you purchase? You can purchase raw land, an apartment building, condos, a rental single-family home, and more.

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The self-directed IRA gives you more control.

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Of course, there are a few rules. I won’t go into all of them today, but here are a few you should be aware of:

You cannot live in the property yourself.
There may be some issues if you manage the property yourself.
You cannot collect the rents and use them for your personal funds; they have to stay in the account.

Since real estate is something that I understand, I would much rather invest in that than the stock market. The self-directed IRA gives you more control and is a great way to diversify your retirement portfolio.

If you have any other questions about a self-directed IRA or you're interested in investing in real estate, give me a call or send me an email. I'd be happy to help!

Why Are We Already Making Pies for Thanksgiving?

info@homesmiths.com (Jeff Smith) — Tue, 8 Nov 2016 10:18:00 -0800

Thanksgiving is right around the corner. We would love to give you one of our freshly-baked pies.

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In the midst of an incredible season in Denver, I wanted to reach out to all of you. As Thanksgiving approaches, we wanted to let you know how much we appreciate you, from our friends and family to all of our past, present, and future clients.

The rest of our team is hard at work right now in the kitchen making Thanksgiving pies for you all. We will be giving out pies once again this year to show our thanks. We’ll have pumpkin and apple this year, so make sure that you get one!

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Keep an eye out for the postcard in the mail.

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Keep an eye out in the mail for our postcard, which has all the details about your pie on it. If you haven’t received one yet, or would like to, give us a call or send us an email and we will send one out. We look forward to hearing from you soon.

Your Denver Market Update for This Fall

info@homesmiths.com (Jeff Smith) — Wed, 26 Oct 2016 15:05:00 -0700

The leaves are changing and so is the Denver real estate market. Today, I’ll go over the latest trends in the single-family home market and condo market.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Value Report

Fall is a beautiful time to be in the real estate market. As we head into the winter months, now is a great time to buy or sell a house. Buyers tend to be more serious this time of year and there is usually more inventory on the market.

As far as market trends go, we are starting to see some price reductions. There are not quite as many multiple offer situations as there used to be, either, which is also good news for home buyers.

In the single-family home market, inventory has not increased since last year. Right now, there are 7,350 homes on the market. The condo market saw a 2% increase in inventory year over year with 1,700 condos on the market.

As far as days on market, the average for single-family homes is 28 days, which is just one day higher than it was at this time last year. The average days on market for condos has remained flat, as condos are selling in an average of 20 days. As you can see, most properties are selling in less than a month, which is incredible!

The average sales price is still the highest Denver has ever seen. Single-family homes have an average sales price of $435,000, which is 9% higher than it was last year. However, the average price remained steady through June, July, and August, so we’re not seeing as many leaps and bounds as we were. Prices are starting to level off.

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The Denver market is still as strong as ever.

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The same is true for condos. Although prices have not increased in the last three months, the average condo sales price increased 13% year over year to $287,751.

The number of home sales for single-family homes only increased by about 1%; condo sales increased by 4%.

Now, everyone wants to know what’s happening with interest rates. We don’t know exactly when, but interest rates will go up at some point in the future. Right now, you can get a conventional loan at 3.625% or an FHA loan at 3.25% interest. If you are thinking about buying a home, I highly recommend taking advantage of these low rates.

All in all, it’s a great time to be in the market. The Denver market is still strong, but the leaves might not be the only things changing in the near future. If you have any questions about our market, give me a call or send me an email. I would be happy to help you!

Avoiding the Capital Gains Tax on Your Home Sale

info@homesmiths.com (Jeff Smith) — Thu, 18 Aug 2016 12:03:00 -0700

How do you avoid paying the capital gains tax on the sale of your home?

If you have a rental property or an investment property, you can avoid paying capital gains and use all that equity to trade into another property and defer those gains until further down the road by doing a 1031 exchange. There are six rules to know if you’re interested in doing a 1031 exchange:

Both the old property and the new property must be held for investment. You can do any kind of trade, real estate for real estate, as long as it’s held for investment.
There is a 45-day identification requirement. From the sale of the old property, you have 45 days to identify the new investment property that you’re going to eventually purchase.
There is a 180-day purchase requirement. From the sale of the relinquished property, you have six months to close on the new one.
You must have a qualified intermediary. This person will hold the proceeds of the sale in an escrow account. We have some great recommendations of qualified intermediaries if you need them.
There are title requirements. You have to hold title in both properties. If one property was bought with a company name, for instance, the other has to be in that company’s name too.
You have to reinvest all cash proceeds and purchase at equal or greater value.

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Knowing these rules will help you generate more cash flow.

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This information will allow you to use all the equity and be able to have more leverage to buy a bigger home or a different property.

If you’re looking to buy a home, sell a home, or invest in real estate, we’re here with expert advice and guaranteed results. Just give us a call or send us an email and we’d be happy to help.

How to Handle a Low Appraisal in the Middle of a Transaction

info@homesmiths.com (Jeff Smith) — Wed, 27 Jul 2016 15:46:00 -0700

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

What do you do if your appraisal comes in low in the middle of a transaction?

This is a real challenge in our marketplace today. Low appraisals can happen because our market is appreciating very quickly and has been for the last several years, there are fewer comparable properties, and each sale seems to be higher than the last one.

What is the definition of an appraisal? It’s what a willing buyer and a willing seller come to terms on. The reality, though, is that we have to sell the home and its value to three different groups: the brokers in the marketplace, the buyers themselves, and the bank. The brokers help us find the buyer for your home. The buyers need to believe your value is justified. The bank has to believe in the home’s value because they’re the ones putting up the majority of the money.

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We have to sell the home and its
value to three different groups of people.

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What happens if you get a low appraisal? There are three ways to proceed: the buyer can terminate the offer, the buyer can pay the difference in cash between the appraised price and the purchase price, or the buyer and seller can negotiate.

In any event, it’s important to have a real estate expert in your corner to manage this process and go to bat for you with the appraisal company or the appraiser. We want to be confident in how we’re positioning your home in the marketplace and know what the best strategy is going forward.

If you have any questions or concerns regarding a particular topic, drop us a line or send us an email and we’d be happy to cover it for you.

12 Questions You Need to Ask Before Hiring an Agent

info@homesmiths.com (Jeff Smith) — Thu, 30 Jun 2016 09:13:00 -0700

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

What questions do you ask when you are hiring a real estate professional? There are about a dozen you should ask to find the right person to help you buy or sell a home. Remember, not all agents are created equal.

How long have you been practicing real estate? Experience matters.
What qualifications do you have to sell real estate? Is this your full-time or part-time job? Make sure they have enough time for you.
How many homes have you sold this week? This year? In your career? The best way to predict an agent’s future results is to look at their past record.
Tell me about your personal real estate operation. Are you an individual or team agent?
Can you give me a list of client references to call? You don’t just want to look at written testimonials; speak with actual past clients as well.
Do you have a formal and written marketing plan for selling homes? Don’t work with someone who just shoots from the hip. We have a 151-point strategy for selling your home.

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Are they proactive about real estate?

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How often will I hear from you, and in what fashion? Make sure you have open communication with your agent throughout the process.
Do you guarantee your performance? When you work with us, you are obligated to us for one day at a time. This holds us accountable for our end of the bargain.
Can you refer me to a reputable mortgage lender, inspector, and more?
What percentage of your business comes from referrals?
How many people do you speak with each day about real estate? Are they proactive?
What is their monthly advertising budget? A lot of agents don’t spend much on advertising, so it’s important to know that number.

If you are interested in one of our reports for more details on these questions, give us a call or send us an email. We would be happy to help you!

Avoid These 7 Costly Mistakes When Selling Your Denver Property

info@homesmiths.com (Jeff Smith) — Fri, 17 Jun 2016 06:38:00 -0700

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Thanks for stopping by! There are several mistakes you want to avoid when moving up to a larger home or selling your property. I’ve narrowed the list down to the most important seven, which I want to discuss today.

Failing to “dress” your property for sale. How you initially position the property in the market is very important. We’ve talked in the past about how if you want to put your best foot forward, you need to stage it so that it looks good, smells good, and feels good.
Pricing your home incorrectly. You need a pricing strategy that’s going to attract the most amount of buyers. At HomeSmiths, our price range positioning strategy is designed to expand the pool of buyers potentially searching for your home.
Limiting the marketing of your home. You want to expose your home to the most amount of people in the marketplace. Our job is to get as many footsteps to your front door as possible. For this we have a 151-step system that we use to sell and get top-dollar for all of our properties.
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How you position the property
in the market is very important.

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Thinking that an online source is the real value of your home. Zillow and Realtor.com offer instant home valuations and are good places to start, but you need a full equity analysis to get your home’s true value.
Not understanding your rights and obligations. Make sure that you’re walking through each page of that contract and understanding your rights and obligations.
Signing a listing agreement with no way out. Many agents in the marketplace will try to sign you up for six months or longer. To guarantee that we live up to your expectations on a day-to-day basis, we offer a one-day listing that allows you to fire us at any time if you’re dissatisfied.
Selecting the wrong broker. How long have they been in the business? What’s their track record? How many houses have they sold? These are questions you absolutely need to know before hiring your broker.

Hopefully, this list of costly issues will be helpful to you and give you a better idea of the right way to get your home sold. As always, we want to thank you for watching our video. We’re here to serve with expert advice and guaranteed results. Give us a call or shoot us an email if you have any questions.

How Much Home Can You Afford?

info@homesmiths.com (Jeff Smith) — Wed, 27 Apr 2016 07:01:00 -0700

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Every case is different, but your affordability mostly depends on your income and other financial obligations. The general rule of thumb is that you can afford approximately 30% of your gross monthly income on a house payment. They are going to also allow 10% of your monthly income towards other debts, without it negatively affecting your mortgage.

It’s a good idea to check your credit score and make sure it’s where it needs to be. The minimum score to get an FHA mortgage is 580, and for a conventional mortgage it’s 620. The higher your score, the better loan you’ll get.

Your lender is going to want to see a history of your income, as well as the ability to predict where your income will be in the future.

There is a myth out there that you have to have a 20% down payment in order to get a loan. We’ve got programs available for as low as 3% down, and even lower in some cases. Consider this myth busted.

Now, loan terms will affect how much your payment is each month and how much you can qualify for. If you want to really knock it out quick, you can get a 10-year or 15-year loan, but most people choose 30-year terms.

If you are curious as to what kind of home you can afford, click here to use our home affordability calculator. We also have a monthly payment calendar to give you an idea of what your payment will be.

Figuring out what you can afford is the first step you should take in the buying process. Getting pre-approved is crucial in this market. We really appreciate you and are here to serve you with expert advice and guaranteed results. If you have any questions for us, give us a call or send us an email. We look forward to hearing from you!

Tips for Denver Sellers During Home Showings

info@homesmiths.com (Jeff Smith) — Tue, 12 Apr 2016 10:26:00 -0700

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Lately, a lot of sellers have been asking, “Should I be present during my home showings?” My answer is absolutely not! There’s never an instance where that’s a good idea.

I understand how you feel. It’s a huge inconvenience to leave your home for every showing. You might also feel that you are the best person to point out the features in your home. After all, you know your house best. You probably also want to know what potential buyers think of your home, so you want to be there and see the reaction.

When the homeowner is there, the buyer tends to clam up. They don’t talk. They don’t want to offend you. We need the buyer to be open and vocal. We need to hear what they think about the paint colors, the flooring, and the price of the home. That way, we can overcome any objections and get an offer.

Most of our showings are going to be set up within a two-hour window. You don’t have to leave for the full two hours. Be ready to go. Have the dog and the kids in the car, and when the buyer shows up, go for a drive around the block. Most showings only take ten minutes. If you’re sitting at the corner waiting for them to leave and they’re taking half an hour, get excited! That means the buyer is likely interested in the property.

Showings can be inconvenient, but it’s important to never turn down a showing. I know emergencies come up, but every time we turn down a showing, there’s a chance the buyer is going to go down the street and buy your neighbor’s house.

We are also going to request feedback. We ask every buyer who looks at your house what they like, what they dislike, and what we can change. We will share that feedback with you so you’re never out of the loop.

I also have a quick sheet with tips to help you prepare for your showings. If you are interested, just give me a call or send me an email. I’d be happy to share it with you and answer any other questions you might have!

Will the Denver Market Continue Its Hot Success in 2016?

info@homesmiths.com (Jeff Smith) — Thu, 17 Mar 2016 08:09:00 -0700

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Today, I wanted to give you a quick update on the Denver real estate market as we head into the spring season. What a market we have here in Denver! We had a great year in 2015, and it’s continuing in 2016. We are one of the hottest markets in the country, and Denver is rated as the number one place to live in the country. This is a rating by U.S. News and World Report. Check out the article!

Right now, we have about 4,000 homes on the market in all of the Denver metro. That’s not very many homes to choose from in 7 counties. Because the supply is down, home prices are continuing to increase. We are up another 7% in average home prices from this time last year, putting us at an average of $406,000 for single-family homes. Those homes are selling in an average of 41 days.

As for our condo market, we are seeing even a bigger jump in price. We are up 16% in average condo sale prices, giving us an average of $279,000.

This market isn’t only set up for sellers to cash in. Interest rates are still historically low, which is continuing to drive buyer demand not only in Denver but all across the country. Don’t let these rates slip by. It’s not going to be easy to get your perfect home, but we have great strategies in place for whatever your situation is. We would love to help you through the process.

If you have any questions for us or are thinking about buying or selling in Denver, give us a call or send us an email. We would love to hear from you!

5 Reasons Denver Buyers and Sellers Stress Out

info@homesmiths.com (Jeff Smith) — Wed, 24 Feb 2016 09:13:00 -0800

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Have you gone nuts looking for a home in Denver? I don’t blame you. As a local Realtor, I create close relationships with clients, and likewise, see them at their best and worst. I play different roles to serve clients, including teacher, counselor, and even therapist. Most people tend to feel like they’ve lost control a little. They’re facing unbearable stress in the real estate process. I know the five most stressful catalysts anyone could face when buying or selling.

Job status: It could be a new job that requires relocation. Maybe it’s a job loss.
Family situation: Maybe it’s a new child or marriage. It could also be an empty nest.
New marriage: Maybe it’s a celebration of a new marriage. This requires combining households, possibly with children and pets.

Divorce: It could be oriented around filing divorce. It can get messy if there’s issues over the current property.
Recent loss: Someone might be grieving a major loss in their family, or might have a relative battling a life-threatening medical condition or illness.

There are common reasons to move. If you’re experiencing only one of these triggers, consider yourself lucky. If you’re thinking about buying or selling a home in the surrounding area, reach out by phone or email! We’ll get through this together.

Our Unique Strategy for Denver Home Buyers

info@homesmiths.com (Jeff Smith) — Tue, 9 Feb 2016 13:43:00 -0800

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

If you’re thinking about buying a new home this year, you may be wondering how to start the process. One of the biggest mistakes I see most buyers make is not having a strategy. My team and I have a unique strategy to get you the best possible house for the best possible price. There are six steps:

We sit down and go through a situation analysis. We sit down with you to find out your true wants, needs, and goals.

We talk about availability. We give you priority access to all the best homes that meet your exact criteria. We can get you into builder properties, foreclosed homes, and homes that aren’t even on the market yet. We also have access to private seller lists. If your dream home is out there, we’ll find it.

Determine what you qualify for. We want to make you as appealing as a cash buyer. Our lenders get you the best rates available for your loan.

We set you up with one of our consultants. Someone within our team will be there to help you negotiate for the best possible price and terms.

Contract to closing. There are many parts to this step, from getting your contract accepted, to completing the inspections with due diligence, to finally celebrating at the closing table. We’ll support you through each and every step so the only thing you have to worry about is packing those boxes.

Our loyalty agreement. The greatest thing is our services don’t cost you a penny up front. In most cases, we are able to negotiate for the seller to pay our entire fee.

It’s never too early to start planning your move. If you have any questions about our unique home buying strategy, give us a call or send us an email. My team and I would be happy to help you!

How to Accurately Price Your Denver Home

info@homesmiths.com (Jeff Smith) — Wed, 20 Jan 2016 08:47:00 -0800

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Many clients ask, "How do I price my home?" My team has a very comprehensive analysis called our Maximum Value Home Audit. Today, I'll walk you through the five steps we take to accurately price your home.

A comprehensive home tour. We walk through the property to identify any cosmetic fixes that would give you a high return on investment.
Market trends. We examine national, local, and neighborhood trends, like interest rates, buyer demand, and inventory levels.
Check what the tax assessor says. We'll pull all pertinent tax record to see the taxable value of your home.
Internet resources. We use some proprietary tools online as well as sites like Zillow to see what they have to say about your home value.
A comparable analysis. We want to look at the sold, active, and pending properties in your neighborhood, as well as expired listings that didn't sell. We'll compare things like price per square foot, the number of days a home spent on the market, and list to sales price ratios to come up with the best competitive price for your home.

Don't let any equity just sit on the table. If you're thinking about selling, just call us. This is a free service. You can even call us if you just want a second opinion on your home price. We'd be happy to help you.

As always, if you have any real estate questions, give us a call or send us an email. We look forward to hearing from you!

Spring 2016 Denver home price update

info@homesmiths.com (Jeff Smith) — Wed, 20 Jan 2016 08:30:00 -0800

I write you today about the recent Fed decision to raise interest rates.

Don’t worry. You won’t see the cost of mortgages increase too much. It’s only a 0.25% rate hike.

However, as our Denver economy improves, interest rates will continue to rise, making it more expensive to buy a home.

If you’re thinking of selling your home, this affects you now…

Your home will sell for its maximum price in 2016. The upcoming spring selling season is going to be hot.

Not many homes are for sale in Denver – inventory is very tight.

Home buyers will also make motivated offers to get ahead of inevitable future interest rate hikes.

All this generates more demand for your home now.

As you know, home prices in many Denver neighborhoods went up considerably in 2015 and there’s a strong chance your home is one of them.

I recommend you check the current market value of your home.

I pay to get access to all the local MLS data and you can get it for free on my website.

Click here to get an instant price update on your home

(You get access to real local MLS data - it’s free for you!)

Enter your property address and you’ll get a recommended selling price range for your home based on the recent sales of your neighbors.

You may be very surprised at your price – it’s likely to have gone up!

Now this website tool is just an estimate. However, if you’re serious about selling your home, I can give you a very accurate asking price.

We also have a home search available for you convenience.

Click here to access our home search tool

Call me at 720-399-0333 or reply to this email with details of your home.

Tell me about your kitchen, bathrooms, home improvements, and all the things you love. I know what a buyer will pay for it today.

And of course, if you’re not interested in selling your home, rest easy knowing we are in a healthy real estate market with appreciating prices.

If I can ever be of service to you buying or selling a home, I’m here!

Should I Sell in Denver This Winter?

info@homesmiths.com (Jeff Smith) — Mon, 7 Dec 2015 16:32:00 -0800

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

This time of year, sellers often approach me to ask, “Should I sell my home during the winter, or wait until the spring?” The good news is that you don’t have to wait. You might even be able to sell faster and for top dollar during the colder months, too. Here’s why.

Demand is strong. On average, Denver homes are selling faster than anywhere else in the country. Here, it only takes about 27 days to sell a home. That’s incredible.

There’s less competition from other sellers. Our inventory drops during the winter. We only have a 1.5 month supply of homes right now. A balanced market has 6 months, meaning inventory is incredibly low right now!

Buyers are more serious around this time of year. We tend to weed out window shoppers during cold weather. Relocating buyers are on the search now to move before the school year resumes in January.

Most buyers will work around your holiday schedule. You can restrict showings during holiday time. They will not want to interrupt your personal time.

The bottom line: if there is a need, there isn’t a single reason to wait. If you’re thinking about buying or selling a home, give us a call today.

What rising Denver area home prices mean for you

info@homesmiths.com (Jeff Smith) — Tue, 1 Dec 2015 09:59:00 -0800

I conducted market research lately and found some helpful information for you.

The expert analysts over at Keeping Current Matters have filed their report for the Fall of 2015, and it appears things are looking up in real estate.

According to numbers gathered by the Federal Housing Finance Agency (FHFA), home prices rose in every region in the country compared to this time last year.

While some states experience more rapid appreciation than others, Colorado leads the charge. Denver leads the nation in home appreciation. It’s likely your home increased in value, regardless of where you live.

The above map is just a general overview of home appreciation by state. To get a more localized estimate of your Denver home appreciation, we recommend using our free home evaluation tool.

You might be surprised by how much your Denver home is actually worth. Simply follow the link.

DENVER AREA HOME EVALUATION

This broad home appreciation indicates a recovering market. As home prices recover and increase pre-recession levels, the market will normalize.

According to the Home Price Expectation Survey, by the end of this year, values will have appreciated by 4.1% nationally. Next year, prices are expected to rise 3.7% before flattening to just over 3% from 2017 to 2019.

This expected slowdown in home appreciation is the result of a normal, healthy market.

As a Denver homeowner, now is a great time to cash in on the equity you’ve built in recent years. With interest rates as low as they are, there is no better time to sell your current home for top dollar and lock in an incredibly low rate on your new one while its value still continues to increase.

Obviously, whether you’re ready to sell is ultimately up to you. I wanted to let you know how favorable the Denver market is for sellers right now. We hope to see this trend in great appreciation continue.

If you’ve been waiting for ideal market conditions to sell, it won’t get much better than this!

Again, if you’re curious about how much your Denver home’s value has increased in recent years, don’t hesitate to use our free home evaluation tool:

DENVER AREA HOME EVALUATION

If you’re serious about taking advantage of this great market climate, and want to begin the home search now, we’ve got you covered as well, with access to the entire Denver MLS:

DENVER AREA HOME SEARCH

Or, if you’re unsure about what to do and would like more information about the Denver market, give me a call or shoot me an email! It’s my job to keep you in the loop with what’s going on here, and I would love to hear from you!

I hope you found this information helpful!

Prepare Your Denver Home for Winter

info@homesmiths.com (Jeff Smith) — Thu, 29 Oct 2015 11:18:00 -0700

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Today, I'll share some survival tips for the cold and wet seasons. I don't want you to get into trouble when it comes time to sell your home. I have seen many homes destroyed by water. Follow this simple checklist of items to protect your property!

First of all, take a look at the roof. Are there any missing shingles? Have you noticed any spots in the ceiling? Those spots could indicate a water leak.

Tend to gutters and downspouts. It's very important to keep the leaves out of there and keep the water flowing away from your foundation.

Take care of your sprinklers. Get them drained properly. Again, prevent water from damaging your home.

Take a look outside the windows. Make sure the caulking outside the windows is nice and tight. If water gets into your home around the windows, it could get into the wall and cause mold and mildew to grow in your insulation.

If you have any outdoor faucets, go into your basement and see if there is a way to shut them off. If you can't find a shut-off, at least make sure there's no hose attached to the hose bib. Otherwise, you will definitely break a line and wind up with a flooded basement.

If you're going out of town, please make sure that your neighbor knows you are going out of town. They can keep an eye on your house. Keep your furnace at about 60 degrees, and shut your water off. You don't want to come home to a flooded house.

Now, this is not a "Honey Do" list. This is a must-do list to protect your home from the elements. If you have any questions, give me a call or send me an email. I would be happy to help you!

You're Invited to Our 17th Annual Halloween Event!

info@homesmiths.com (Jeff Smith) — Thu, 15 Oct 2015 09:52:00 -0700

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Last year we had over 3,500 people attend our annual Halloween party, and we want to cordially invite you again this year.

On October 28th from 4 p.m. to 7 p.m. we will be hosting the event at the Denver Tech Center.

There will be a haunted house, a treat street, lots of games, a costume contest, and some of our more talented agents are going to be doing a rendition of Michael Jackson's "Thriller".

We really hope you come out and join us, it's going to be a great time. That's why we've continued to do it for seventeen years!

As always, please don't hesitate to contact me with any of your questions about the Denver real estate market!

How to Have a Successful Home Inspection

info@homesmiths.com (Jeff Smith) — Wed, 16 Sep 2015 16:16:00 -0700

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Selling a home? Click here for a FREE Home Value Report

Today we are here to discuss how to prepare your home for a successful inspection. When home inspections don’t work properly, there are 2 bad things that can happen.

The contract fails and you lose both time and money. This is the #1 reason we see transactions fail.
The buyer will beat you up for $2-$3 for every $1 it would have cost you to fix it beforehand.

When getting your home ready for sale on the market, there are 5 pre-market actions that we like to focus on. They are:

The roof- We’ve had a lot of hail damage recently here in Denver, getting a 5-year roofing certificate from a licensed contractor is a smart idea.

The furnace- Make sure it’s cleaned and certified.

Plumbing- If you have an older home, perhaps with a clay sewer line, have it cleaned out and scoped by a professional sewage company.

Do a room by room audit- Figure out what issues you can take care of now, like a sticky window or broken lock. Taking care of these small issues up-front is very smart.

Offer a home warranty- This warranty will cover all the major systems on your property, not only for the time period that you’re marketing the home, but also for up to a year after the buyer purchases the home. This will allow the buyer the confidence they need to make a good offer.

If you do these 5 things, we can offer your home as a certified pre-owned home, making it stand out among others and most likely to get top dollar. If you have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you!

How Can You Take Advantage of Real Estate in Denver?

info@homesmiths.com (Jeff Smith) — Fri, 14 Aug 2015 13:06:00 -0700

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Today I have a real estate market update for you. Whether you're planning on buying or selling, you should find some value in this market.

We're currently seeing a strong seller's market. Demand is very high, and we could see record sales this year. Inventory is also very low, and we have only 6,100 homes available in all of Denver. In 2006, there were over 18,000 homes available before the market crashed.

How is this affecting prices? Our average sale price is $400,000 right now, but in June we saw that number reach an all-time high of $417,000. The average days on market is also sitting right at 30 days, so homes are still selling very quickly.

Now, while the market is looking good for sellers, interest rates are looking very nice for home buyers. Rates are currently hovering right around 4%, and I don't see rates falling much lower than that. Although we're in a seller's market, these rates will boost your affordability and even out the playing field for you. You just need to know that homes are selling quickly, so you need to be ready to make strong offers when you see homes that you like.

Thanks for watching today! If you have any questions or concerns about this issue, or if you have any questions or suggestions about future video topics, please don't hesitate to contact me!