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 …

In This Market, Should I Move to My Dream Home?

Matt Hudson, CEO CHR WEEKLY, Market Trends

With the housing market moving as fast as it is and prices increasing over 25% in the last year, it’s understandable that you’d be hesitate to make any major decisions when it comes to real estate. However, there are many things to consider outside of home prices and inventory. Click to read how I’d advise my clients if asked if now is the “right time” to buy and/or sell. #realestate #coloradorealestate #realestatemarket

Getting Ready for the Inspection

Nykki Gallegos Seller Insights, Selling

The buyer of your house will be conducting inspections in the near future. The inspection process creates some anxiety for most sellers and understanding the process can help alleviate the worry. Here are three things that will help the process go smoothly:   Your agent will call you with the date and time the buyer has selected for conducting the inspection. …

Arrange for Home Owner’s Insurance

Nykki Gallegos Buyer Insights, Buying

It’s time to make sure that your home owner’s insurance is in place. Even if you are buying a condo or townhouse or any property where the hazard insurance on the structure is being paid by a home owner’s association, you’ll still need to obtain what is commonly called “condo” insurance — it covers certain interior real estate items, your …

Just the Extraordinary Facts

Matt Hudson, CEO CHR WEEKLY, Market Trends

Denver real estate is full of emotion right now. From buyers & sellers, to lenders, real estate agents, title companies, developers and builders. All are impacted by the pace and demand of current market conditions.  In an effort to cut through the noise, we’ll stay away from emotion, opinion and prediction. Just the facts to keep you informed and make …

Plan Ahead for the Closing Date and Possession Date

Nykki Gallegos Seller Insights, Selling

Section 2 of the contract lists two very important dates — the Closing Date and the Possession Date/Time. Take a look at these and make sure you are planning accordingly. In most cases, you have to be completely out of the property by the Possession Date and Possession Time listed in the contract. You are subject to monetary penalties and …

Getting Ready for the Appraiser

Nykki Gallegos Seller Insights, Selling

An appraiser may be coming to your house in the near future. Most home sale contracts are contingent on the buyer or the buyer’s lender obtaining an appraisal on your property. Here are some things you’ll be interested to know about appraisers and the appraisal process: Occasionally, the appraiser will be doing an “exterior only” appraisal. In those cases, we …