LIFE IN COLORADO | DECEMBER 2021

Matt Hudson, CEO denver-housing-market

DECEMBER 2021 METRO DENVER STATISTICS All comparisons made to December 2020 It is no surprise we ended the year with low inventory and high appreciation in 2021. It seemed to be the theme as we went through another year of people choosing where they wanted to live the next chapter of their lives. With rates set to rise in 2022, …

We’re Hiring a CFO!

Nykki Gallegos Life at CHR

We are looking for a humble badass. You are hard-working, ridiculously smart, have a ton to offer the right culture and team, and are committed to finding your tribe. Yes, there are all the traditional aspects of the CFO role you must have the ability to proactively and meticulously fulfill. However, we don’t want traditional. We believe most of the …

Earnest Money

Nykki Gallegos Buyer Insights, Buying

The quick facts on earnest money When you execute a contract to buy a home, you will offer some earnest money to the seller. The contract specifies when you need to provide the earnest money to the seller or seller’s agent and this is normally within a few days of contract execution. This check will be cashed within 24 to …

Denver Real Estate Remains Strong – Firmly A Seller’s Market

Matt Hudson, CEO CHR WEEKLY, Market Trends

Over the last 14 weeks, buyer activity has settled into the “just above normal” range for the Denver market. With low inventory, this still means a large buyer pool is competing for fewer homes leading us into a fall and winter market that is most likely shaping up to remain busy and relatively fast for buyers and sellers.

Home Inspections

Nykki Gallegos Buyer Insights, Buying

You need to schedule inspections on the house you are buying.   2. You have to get your inspections done prior to the Inspection Objection Deadline found in Section 2 of the contract.   3. Read our report HERE re: inspections.   We consider the inspection process to be one of two of the most important steps in a home purchase …

Home Warranties

Nykki Gallegos Buyer Insights, Buying

Ask your agent if he/she is aware of any existing home warranties that may be in effect or available for the house you are buying. Here are some possibilities: New Home Warranties: New home builders typically provided some kind of extended warranty covering the structure of a home for 5 to 10 years. The remaining term on such warranties usually transfers …

Metro Denver 2021 Midyear Reflections

Matt Hudson, CEO CHR WEEKLY, Market Trends

The first 6 months of Denver real estate was nothing short of chaotic.  The year over year average home sold price was up by as much as $150,000 and the number of people looking for homes blasted through previous records. Weekly home showings topped over 40,000 showings in a week, on a record low inventory of just 2,200 homes available …

Full Disclosure Minimizes Legal Risk

Nykki Gallegos Selling

Just about everything we do these days exposes us to legal risk. So, it’s no surprise that a real estate transaction has legal risk, too. But, it’s not well known that the risk is disproportionate — it’s much riskier for the seller than for any other party. In a recent study, it was found that the seller was the defendant …

Disclosures Made by Sellers

Nykki Gallegos Buyer Insights, Buying

Buyers and sellers are obligated to make accurate disclosures and representations when buying and selling real estate. For buyers, this primarily entails dealing fairly and honestly with the seller and not misrepresenting the buyers ability to obtain a loan. Things are a little more complicated for sellers. Sellers are obligated to disclose latent property defects to buyers. A latent defect …

BLISTERING SUMMER START TO DENVER METRO REAL ESTATE

Matt Hudson, CEO CHR WEEKLY, Market Trends

Knowledge is power when it comes to making a decision in ANY real estate market. Did you know the average sold price of a detached single-family residence hit an all-time high of over $730K last week? One year ago, the average weekly sold price
was just north of $541K.

Whether you’re considering remodeling, refinancing, or you’re interested in capitalizing on interest rates and moving in this market, send me a DM and let’s explore what it would take for you!

#realestate #realestatemarket #coloradorealestate

Under Contract … To Continue Or Discontinue Showings

Nykki Gallegos Seller Insights, Selling

Now that your property is under contract, you’ll need to decide right away whether you want to continue showing it. There are pros and cons to continued showings. On the positive side, having a backup contract is extremely valuable. If you can get a back-up contract, it puts you in a stronger negotiating position when dealing with inspection issues with …

Holding Title

Nykki Gallegos Buyer Insights, Buying

If you are buying a property with another person, you have to decide how you want to hold title to the property. If you are the sole purchaser of the property, you can ignore the rest of this post. The two options for holding title are: (1) Joint Tenants or (2) Tenants-In-Common. A basic difference is what happens when an …