Free First Time Home Buyer Information and Classes
Getting first time home buyer information isn't easy. Its a confusing process especially when you first start out. As Denvers number one expert in first time home buyers I see the struggles on a daily basis and have created tools to help! I've created some very useful and helpful tools for first time home buyers. If you live in Denver we offer free classes once a month to the general public! Read on for more detailed information.
First Time Home Buyer Information
FIrst time home buyer information is all located at the link below. Please check out the free content and take the comprehensive buyer test.
First Time Home Buyer Classes.
The first time home buying classes that I host are all located in and around the Denver Metro area. They are completely free to attend and have very detailed knowledge about the buying process and the steps to purchasing your first home. You can also request a free buyers consultation with me to discuss the next steps and see how quickly we can get you into your first home! Check out our youtube channel for more information as well as the link for tools for first time home buyers!
If you're looking for properties remember that my website is the best tool for viewing all active properties. It's updated by the Denver MLS on a daily basis!
Febuary Denver Market Update
The Denver Febuary real estate market update. The Denver market this month is still following the same trend as we saw last year. We very well could be onto another record breaking and setting year. With still few homes on the market, 6 times less than this time in January 2006, and many buyers looking for properties.
Last year during the spring and summer months Denver saw some of the fewest average days on market that this city has ever seen. With over a hundred thousand people moving into the Denver metro area over the past two years there is a massive demand for homes! The only issue is there are not that many homes being built and or sold. This causes many homes to go into bid wars and leaves many buyers out of the market who are perfectly qualfied. The economists I've all spoken with estimate that we will have just as crazy if not more crazy spring and summer in the Denver market. I've seen many buyers lose their offers in these crazy times.
Is it really this crazy…?
Not if you have the right agent! The wrong agent will make you feel like the market is hectic and that your offer is just the same as the others that have submitted. The right agent usse tactics, strategy, and strong negotian skills to win over a contract. I mean cmon its 2016 right? Anyone can figure out how to put an offer in on a house. Not everyone can figure out how to writing a winning offer over and over again. With my extensive experience in negotians and problem solving. I work with my buyers to find the most creative way to make our offer stand out and give the seller reassurance. Work with me to see how I can win you your dream house amongest many other offers. Learn more about why Im the best real estate agent in Denver.
Where do I search for homes in Denver at?
Denver First Time Home Buyers best search system is easy to find! My website is a state of the art search system that allows buyers to instantly search for any active MLS property. Search by map, neighborhood, price, bedrooms, bathrooms, and much more. My website links directly to the local Denver MLS so all listings are active and up to date. Its important to use a site that is always feeding from the local MLS of wherever your market may be. I get first time buyers who call me all the time asking if a certain home is avaible becasue they saw it on Trulia or Zillow. In this Denver market with things moving so quickly you dont have time to guess! Save yourself the effort and the false hopes and use a current up to date state of the art search system.
For first time buyers in the Denver or metro areas 2016 should be their year to buy. With the average home in the denver area gaining a 10% value increase its a great time to own a home. People who live in Denver renting are getting hit hard with some of the highest rents in the nation. With the price of property on the rise first time buyers should try and get into the market as soon as they can for 3 reasons.
1.) The home that you wanted this time last year could be out of your budget. If you were to look at homes last year in the $250,000 range those same homes could be $275,000 now and out of your budget by $25,000. Why wait to buy?
2.) You lose money everytime you pay rent. With a home its like putting your money into a bank. You have ewuity in your home which can then be liquidated or sold for cash! Your rent goes into your landlords pocket which he builds in equity…Congrats youre paying someone elses mortgagte note.
3.) If you purchased the same home as talked about above and purchased last year at this time. You could've essentially made $25,000 for living in your home.
You do the math and decide… Should I buy in 2016?
How Does a Real Estate Agent Price My Home?
Its a great question! There are many different ways in which agents price homes but, first we need to understand two things. Market Value and Market Price. Market Price is the way agents price homes. We find the most probable market price and choose this as the listing price. Market Value is the price in which the market actually will pay for it. Confusing? Let me explain, Market Value is simply what someone will actually pay for the home (offer).
Now that we're clear on that, the most common way if you live an area where are there are many similar homes is to pull properties from different areas that have recenetly sold. Real estate agents will then assess multiple things to determine prices. Things they look at our number of bedrooms & bathrooms, square footage, updates of the house, location of the home and lot, and if there are any things that may lower the price. The second way to price a home is by factoring the building costs to recreate the structure plus the market value of the lot. This method is used if there are very few comparables or nothing comparable to value the home by. Once the real estate agent has priced the home he/she will choose the best market value or the most probable price it will sell for. Pricing is a very key componet into how long a home will sit on the market.
Many of my customers ask me Sean, is now a good time to sell with winter approaching?
Well the first thing to understand is that there is no such thing as a normal market! The real estate market is always changing and its sometimes hard to predict what will happen. I always look to numbers and facts for reasoning.
Between July of 2014 and July 2015 over 200,000 people moved to Colorado. Most of which to the Denver area.
The Denver apartment vacany rate is at 4.8%.
Home sales from last month are up at 3.2%.
Median home price is up 15.2% from the 2nd qtr at $350,500.
After looking through these numbers its not hard to see that why we may have a small slowdown while holidays approach us, there are still lots of people shopping for homes. With vacany rates so low that means rents are continuely on the rise. I think next Spring could be bigger than July of this year. So heres my conclusion.
Is it still a good time to sell…. Yes. Still a good time to buy….YES
Denver Real Estate Market Update