Archives for category: Denver real estate for sale

Whether you’re gearing up to start showing your home after putting up Denver real estate for sale, or interest has dwindled since the initial rush of visitors, it may be time to rethink your game plan if you feel you aren’t getting enough interest. The problem may be that the impression of your home lacks pizazz. You should work with your agent on bringing interest back. Here are some ways you can amp up interest in your home:

Highlight your home’s strong points

Every home has its weak spots, but there’s nothing wrong with working to bring attention to your home’s strong points instead. Take a look at the most desirable features in your home and decorate or arrange in order to bring focus to that feature. If you have a beautiful fireplace, center the seating around it and have a warm fire going if the weather permits. If your pool is a wonderland, make sure the waterfall is running when you’re holding showings. Just repainted the exterior? Give your yard a little landscaping to showcase this. Highlighting the most prized features of your home not only gives a greater overall impression, but it will give your home more character as well if your buyers leave with certain elements sticking out in their mind. Some buyers will be looking at a lot of different houses, and so a house with character will be more memorable.

Take professional photos

If your interest is stagnant, the problem may be that your photographs aren’t reeling anyone in. If your photos are low quality or unflattering, you still may get some visitors at first out of curiosity or from those that always check out a new listing. But after this is over a bit after you’ve started showing, then it might be time to take new pictures. A good idea is to hire a professional photographer and stager, a person who decorates a house with showing and selling in mind. If that’s not in the budget, your agent will still be able to make suggestions for better photos.

Redecorate or update

If you feel like your home presentation is dull, redecorating and updating can spice up the look of your house. This could be as simple as getting some bright throw pillows for the couch or as complicated as retiling a bathroom.
Give your marketing plan a second look

The problem could be simply that you’re not reaching enough people. Ask your agent what outlets they are using to reach buyers, and consider reaching out to different websites or client bases.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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For some time now, the stable regrowth of Denver real estate has been reassuring buyers and sellers. As one of the first to get hit by the housing crisis years ago, Denver is emerging as one of the first to recover. Record breaking numbers in May have further confirmed what we’ve been coming to understand about the state of the market: it’s officially back.

In May, home prices reached their highest since the market’s crash. Since last May, prices have gone up by 10% according to the Standard & Poor’s/Case-Shiller home price index. For seventeen consecutive months, Denver has seen these year-to-year increases. Partly due to an increased demand, the average price of a home during May reached over $308,000. While Denver’s population has been increasing as more and more discover what a desirable place to live the city is, this is also a sign of a healthier market. May’s broken records had not been met for seven long years, so these numbers have caused many skeptics to finally let out a sigh of release.

The demand is so high that many sellers are reporting finding a buyer within days or even the same day they put out their sign. Following the recession, a large number of properties that were selling were sold for less than $100,000, including many foreclosures, while the standard today has shifted between of $200,000-$300,000. This is a relief for sellers of bigger-ticket homes, as these typically take longer to sell. However, now, these sellers can hope to sell their home in less than a year instead of several years. A drop in the sale of foreclosures—from 40% to 15% in a few years—has also contributed to this, along with minimalized discounts on these foreclosure properties.

Only two cities in the United States have passed records set before the recession, and Denver is one. The city’s co-title holder, Dallas, is also experiencing increased demand. However, if you are a hopeful potential buyer, don’t let these statistics scare you. Even though Denver homes are in higher demand, a recovering market means that there are still plenty of houses getting put on the market of Denver real estate for sale every day, with 2,500 new homes entering the market from April-July of this year. Yes, there will be more competition, but you will also have access to more homes, meaning a greater chance at finding the perfect home for you.

Denver’s recovery is indicative of regrowth in the market all over the country—the Standard & Poor’s/Case-Shiller price index also reported US home sales had hit a five year high in May.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

When thinking about where you want to live and what you want to live in it is important to decide whether it is more cost effective to buy or rent a home. These are some things that make coming to that conclusion easier. Purchase costs are the costs you pay at the close of the purchase including the down payment and typical closing costs. Yearly costs are recurring monthly or yearly expenses. Mortgage payments, property taxes, homeowner’s insurance, condo fees (or other community living fees), maintenance and renovation costs.

Selling costs is what you pay when you go to the closing for the house you are selling, including the remaining principal balance that you pay to your mortgage bank as well as the broker’s commission and other fees. The money that you receive from the person who is buying your home is what is called proceeds from sale. This amount reflects the value of the house that year, it is shown as a negative number because it is money you receive. If your buying total is negative, you made enough of a profit to cover yearly operating expenses and the cost of your home.

Renting is ideal for someone who plans to live in an area for fewer than three to five years. If you were to buy a house in that time, you might not get the return on your investment. Renting is ideal for the nomad who has yet to settle down. You should rent if you don’t want to be tied down to a mortgage or if you know that you never stay in one place for very long. If you purchase a home and sell it within a couple years, you’ll lose about 6 to 7 percent of the money you put in to the home through the cost of selling it. That said, no one should rent forever. Apartment rents are expected to increase by 12 percent by 2015.

House prices are making the jump as well, but when you own the house you are putting your money into that investment not into a landlord’s pocket. If you plan on being in your home for only a little while then renting is the way to go, as not to lose money trying to sell it when you decide to uproot again. Rent if you can only commit yourself to staying in the same spot for a year or two. If your career keeps you in the same place for many years, now is a good time to buy Denver real estate for sale.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

A current trend with home showings now is to allow the prospective buyer to leave comments after a showing. This helps the seller know how interested the buyer is, and if they’re not interested, how they can improve for the next showing. Sometimes it’s just not the kind of home that they’re looking for, but often the buyer had problems with elements that can be fixed for the next hopeful buyer.

Sellers shouldn’t take this personally, but instead accept the helpful criticism to help improve their showings. Even if it is something simple that the buyer could easily change after taking over, buyers will be attracted to a home that doesn’t need much work, and it helps them visualize themselves living in the new home. Here are some common comments that you should expect to here, and what to do with them:

“It just wasn’t my style.”

The problem: You are just not going to be able to make everyone happy when it comes to style. The style of a home’s architecture and decoration is just too dictated by personal preference. Extreme design elements can be distracting and make it difficult for a buyer to see their family living there.

The solution: Redecorate as neutral as possible. Odds are, you will not be able to avoid redecorating. Over the years, you’ve probably added personal touches that you loved, but are specific to your sort of style. This is why you should take any extreme elements, such as that lime green paint your daughter loves but buyers won’t, and neutralize them with white paint and other simple colors. Your home doesn’t have to be boring; it just needs to strive to appeal to a wide variety of tastes.

“This house needs a fresh coat of paint.”

The problem: Even though these would be simple fixes for the prospective buyer, an outdated home can be a turn off. Unless they’re intentionally looking for a fixer upper, a buyer will see an outdated home as a lot of work.

The solution: Make simple updates before putting your home up for sale. Fix that leaky faucet, power wash the garage, replace that bathroom tile that doesn’t look so great, and whatever else you can do to make the home feel like less work. Kitchens are actually a huge weak spot when it comes to updating, as it is unlikely a buyer will be able to get over a kitchen that they feel is outdated unless they don’t think the kitchen is important. But when listing Denver real estate for sale, it can be an incredible boost to your home’s value by investing in a kitchen update, even if it’s a small one.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Buying is for people who are ready to settle down. Making a big purchase like a house is a huge decision, so be sure that you are ready to stay in one place for an extended amount of time. Buying a house is a large commitment that can be costly if you’re not prepared. Being absolutely positive that you are ready to settle down is the best way to avoid excessive expenses and stress.

Be realistic

Shop for a house you can afford. Knowing what your limits are monetarily can keep you out of debt and in your home. Much of the reason for all the foreclosures that happen, is that buyers made purchases from the bank they could not afford. Being reasonable about what you will be able to comfortably pay for a house is as important as the house itself.

Hire an independent home inspector

Though the bank will have its own appraisal, you will want to hire someone familiar with home surveying so that they may point out future foundation or plumbing problems that may be costly to you.

20 percent down isn’t a requirement

Most people think that banks will require you to put down at least 20 percent of the cost of the house you want to buy. This is not true. 20 percent is what most banks hope for, but not what they will agree to. Talking with your lender is the best way to figure out a down payment that pleases everyone.

The cleaner your credit history the better.

Good credit is the easiest way to get the house you want. Before you decide to buy a house, you will need to make sure you have no outstanding credit problems that might impede you getting approved for a loan. But also, don’t let having bad credit scare you away from working to correct the problem. It is never too late to start repairing bad credit as most banks are willing to help. Do yourself a favor and get pre-approved for a loan. Once pre-approved, you are in a more comfortable position to make a serious offer once you have found a house you like.

Research before you purchase.

Before investing in something like a house it is always good to do your research. Knowing what the house is actually worth based on the houses around it is important in the buying process. Your first bid should reflect the prices of similar homes in the area. If you find that houses are typically selling under their asking price your offer should be lower than the original price.

Hire an agent

Someone who is trained specifically in what you need is far more likely to be able to help you find what you are looking for as well as making the process more transparent and less stressful. An agent is a person who knows the housing market and is familiar with the procedures you will have to go through. An agent can not only find you houses within your price range, a broker can walk you through getting your home loan, and work with you on bidding strategies when looking for Denver real estate for sale.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

With such a big decision to make, many prospective buyers take their time picking out a new home. It’s perfectly right to wait for “the one,” but if finding the right home is taking too long, there could be a reason why. Take a look at these common issues that could delay a home purchase:

You’ve idealized your dream home

There’s nothing wrong for waiting out for the perfect home. However, many prospective buyers have been spending so much time imagining what this home looks like that they lose sight of what is realistic. Without realizing, it could be that you’ve always imagined yourself in a larger or more luxury home so that all the homes in your price range disappoint, or that you’ve had a very specific picture in your mind and it is frustrating to find houses that look even a little different. Odds are, you will not find a home that perfectly matches these idealized expectations. However, since it’s still important to have specifications in mind, write down all the things you want in a home and then consider closely whether these things are really what’s right or what’s foreseeable for you.

There aren’t many homes for sale in your prospective area

The real estate market in your area may fluctuate when it comes to number of homes for sale. This season may have had more than average homebuyers or less than average home sellers. When this happens, you can either decide that it is worth waiting out for a wider selection or expand the area you’re looking at. The good news is, you will have time to dedicate searching for new home listings. If you are on the prowl, this means that you can jump on new listings early in case it’s the one.

Sometimes expanding to a different or larger radius of potential homes can make a difference without changing your route too much. Also, make sure to stay up to date on the variety of listing websites and directories on your area—while it is not as common, legitimate sellers may be posting on Craigslist instead of the typical listing sites—to make sure that you’re not missing listings just because you’re not at the right site.

If you are looking at Denver real estate for sale, adding a real estate agent to your team can give you detailed advice as to why you’re not having any luck finding a home.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Many prospective buyers consider foreclosure properties in the hopes of catching a great deal on a house. While it is true that foreclosures offer an opportunity for a cheaper home, there are many issues that come with buying a foreclosed home, especially depending on which stage of foreclosure the home is in. If you’re looking into a foreclosure, keep the following in mind:

The property may not be in great condition

Foreclosures rarely come as a surprise to the homeowner. They’ve already been behind on payments and the foreclosure process can take a long time, even longer than a year. Residents that know they’ll be losing a home are unlikely to care for it well leading up to their eviction. Angry about the foreclosure, they may even express this by destroying the property, and then the new owner may have to pay for it or deal with lowered quality.

You can also buy during pre-foreclosure or auction, but proceed with caution

There are other options for buying a home in foreclosure or pre-foreclosure, the latter meaning that the previous residents still own the house but foreclosure is on the horizon. They may be damaging their credit and struggling to make payments, meaning the seller could be highly motivated to make the sale before falling behind more deadlines. Buyers may feel pressured to complete the buying process in a short amount of time, so they should make sure that the house is for them.

Another option is to buy at a foreclosure auction, but be careful and proceed with caution, especially if you are new to this type of buying. The advantage is, you’ll be getting a great deal. However, this type of buying is risky. Many homes bought at an auction must be fully paid within a day or must be paid in cash. If you have the funding already, next you’ll have to worry about the risks you’ll be taking. Auction sales are quick and you will have little time to take a good look at the home’s condition or information provided in inspections, if any time at all. You may think you’ve got a great bargain only to find heavy structural or mold damage that turns out to be quite expensive. And after the auction, the new owner is in charge of evicting the current residents, who could be damaging the home further as long as they remain.

Your best bet is to buy the home after the bank has become the owner, or Real Estate Owned. This is after an unsuccessful closure auction, when the lender must take charge of selling the home. Not only will you not be responsible for evicting the previous owners, but you will have more time for a proper inspection and consideration. The bank is also general responsible for certain expenses, back taxes, and repairs.

If you are looking for foreclosures or other Denver real estate for sale, make sure you’ve done your research and feel comfortable with your purchase.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

We’ve been taking a look at the biggest home showing mistakes. For home listers, home showings are essential to the selling process. What your potential buyers seen when they come in the door influences their next move.

And after living in a home for so long, sellers might not realize what negative aspects of their home potential buyers may see. While you may have larger updates and restorations taken care of, listers should not forget the little things that still make an impression. It may help to have a checklist of these home showing tips handy to go through before every showing:

Don’t forget about the backyard

Even if you don’t think about your backyard much, buyers may think of your backyard as one of their top priorities. Backyards offer space for kids, pets, and even adults to run around in. If you don’t have a pool, the buyer may be interested in installing one. If you do have a pool, they’ll likely be checking it out. Make sure the grass has been mowed and the vegetation is neatly manicured. Maybe do some landscaping to help your potential buyer imagine themselves in the backyard. Make sure outdoor furniture is clean and that the backyard looks as spacious and inviting as possible.

Don’t forget to neutralize

Neutralizing is a very important part of showing a home. This means that you are eliminating any distracting elements so that your potential buyer can easily imagine themselves living in your home. While decoration should still try to be memorable and attractive, you should stick with more neutral décor. An often overlooked aspect of neutralizing is odor—many houses have a distinct smell, which may not necessarily be bad, but is noticeable to the buyer. Get some air fresheners or sprays to give your home a more universal and less distracting scent.

Don’t forget about curb appeal

In preparation to sell your home, you may have done some landscaping and painting in your front yard in order to catch the attention or appreciation of those who pass by or those who have stopped to take a closer look. This is your potential buyers’ very first impression of your home. However, like your backyard, you should make sure the smaller, shorter term aspects are taken care of as well. Keep the lawn and flowerbeds consistently manicured and make sure the front porch and sidewalk are properly swept of debris.

There are many aspects of selling a home that a seller must keep in mind, which is why many enlist the help of a real estate agent to manage all the aspects of selling a home. Including showings, there is marketing, open houses, communication between potential buyers, and many other important aspects. If you are listing Denver real estate for sale, consider the help of a PorchLight agent for help navigating the real estate sale market.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.