Thriving as a Seller or Buyer in a Seller’s Market

Nykki Gallegos Buying, Selling

How’s the market?” Real estate agents get asked this question all the time. Our response: Who are you? Seller? Buyer? Both seller and buyer? Owner? An agent? The market is different for each of these players. The market is close to nirvana for owners. Homes have been appreciating at a compound rate of 10% per year since 2012. The average single-family home …

Two Unchanging Truths about Lenders

Nykki Gallegos Buying, Selling

We empathize with consumers When it comes to mortgage loans for residential real estate. Claims and counterclaims are made by lenders in their ad campaigns. Breathless announcers make it sound like XYZ Lender has some special program or unique service. In reality, there are just two truths you need to know about lenders and they apply in every geographic location …

Tiny Houses – Passing Fad or Next Big Thing

Nykki Gallegos Buying, Selling

Go to Amazon. Type in “MODS 20 Foot Tiny Home”. You’ll find that you can buy a tiny house that has been created in a shipping container – the kind of container used to transport items on railroads or ships. Just $23,000 for 160 square feet. Good news is that Amazon won’t have to put it in anything to send it to …

Average House Payments Near Historic Norm

Nykki Gallegos Buying, Market Trends, Selling

There are many ways to look at housing affordability. A prior post evaluated affordability by comparing payment required to income available over a 43-year time frame. An alternative methodology is to look at monthly house payments after adjusting them for inflation. At Colorado Home Realty (CHR), we conducted an affordability analysis recently using this complementary approach. Since this analysis takes …

Housing Affordability Better Today Than During Most of the Last 43 Years

Nykki Gallegos Buying, Market Trends, Selling

Imagine it’s 1979. The average single-family home in metro Denver carries a price tag of $66,051. Don’t you wish we could go back to those days when housing was so affordable? A recent affordability study by Colorado Home Realty (CHR) came to a shocking conclusion: The average single-family home in 2016, selling at $441,172, is significantly more affordable than its 1979 counterpart! …

Sell Now or Wait for Spring?

Nykki Gallegos Buying

Are articles from real estate companies about the advantages of winter time selling credible? Articles appear every year around this time about whether it makes sense to sell a house during the winter season. The articles come largely from real estate companies and the topic is posed as a question: Should you sell your home now or wait until Spring? The …

Home Price Appreciation Rates Move into a Healthy Range

Nykki Gallegos Buying, Selling

The gurus at Colorado Home Realty speculated that 2017 would see home price increases move to a healthier, and more sustainable, rate in metro Denver. Data for the 3rd quarter of 2017 indicate this is happening. The five-year period from the beginning of 2012 to the end of 2016 saw average annual home price appreciation of 10.05%, compounded annually. At the end of …

What Price for Convenience

Nykki Gallegos Buying, Selling

What Price for Convenience There was an ad on TV many years ago by a large, nationally franchised real estate firm … let’s call it ABC Realty because we can’t remember the actual name. The Scene: Husband and wife in kitchen. Man in suit with briefcase walks through swinging door from dining room. Couple looks surprised. The Dialog (paraphrase): Man says, “Want …

Home Buying 101

Nykki Gallegos Buying

Home Buying 101 – A Class for First Time Home Buyers We know the questions. Is it a bubble? Will I qualify for a loan? How much down payment do I need? Do I really want to be a home owner? I DON’T UNDERSTAND THE PROCESS! HOW MUCH IS THIS GOING TO COST ME!!! Owning real estate can build wealth, but …

LITTLETON, CO

Nykki Gallegos Buying

LITTLETON, CO Located less than 20 miles south of downtown Denver, the suburb of Littleton, which takes up about 14 square miles, is rich with history, outdoor amenities, cultural presence, school accolades and overall charm. While being the 20th most populous incorporated city in Colorado with around 42,000 residents, Littleton has a small-town feel with a big-city location. The city was …

HOME BUYING 101

Nykki Gallegos Buying

Home Buying 101 A class for first-time home buyers. We know the questions. Is it a bubble? Will I qualify for a loan? How much down payment do I need? Do I really want to be a home owner? I DON’T UNDERSTAND THE PROCESS! HOW MUCH IS THIS GOING TO COST ME!!! Owning real estate can build wealth, but be a …

ARVADA, CO

Nykki Gallegos Buying

ARVADA, CO Dating back to the earliest Gold Rush days, Arvada has been documented as the sight of the first gold found in Colorado in June 1850 and Gold Strike Park at the confluence of Ralston and Clear Creeks was constructed in its honor.   News of gold traveled fast and by 1860, more than thirty land claims had been …