Real Estate Agents

Colorado Real Estate Market Report – Realtor Input on Current Market Conditions

Are real estate agents hiding all the good deals in Colorado? Contrary to belief this is not the case. Homes are not overpriced. Values are pushed by a lack of inventory and pent-up demand. Homes are expensive but they are not overpriced. Price is correct on homes for sale in Colorado. Where are the best places for a good deal in Colorado? What our real estate agents are seeing in Colorado

Real Estate Inventory

Rise in Prices in Colorado’s Real Estate Market is Mostly Due to Lack of Inventory

The Rise in Prices in Colorado’s Real Estate Market is Mostly Due to Lack of Inventory

Across the country, real estate agents are seeing prices rise. This is the case in Colorado as inventory drops prices will continue to rise. Our demand way exceeds our inventory. Real estate agents in Colorado are feeling the pinch just like all Realtors in the US.

What’s driving the real estate market?

So what’s the problem? Colorado is a net exporter of real estate. In other words, we’re getting more jobs and people are moving here. There’s a good reason for this: the weather is ideal. With a low unemployment rate, our population is growing, along with our job numbers and income. All of this makes it harder to build new homes. This supply/demand imbalance has resulted in increased prices across the state. What does this mean for you? Sellers in Colorado’s marketplace will see price increases in many markets. It is natural and unavoidable, because we don’t have enough houses to satisfy this growing demand. The good news is that you can still sell your house at a reasonable price. What are the factors affecting your property value?

Real Estate Inventory
Real Estate Inventory

Why is inventory so low in Colorado?

Inventory is down in Colorado due to: Purchases of homes below market value. It’s a big moneymaker for real estate agents. But it’s also frowned upon by the government. This is because prices are rising so fast, it’s lowering the overall value of a home in Colorado. Spouses refinancing mortgages. A lot of home sales are refinancing. This may explain why there are so many foreclosures. Most Buyers are Bankers A lot of bank CEOs have their own “Seller’s Market” The way banks and real estate agents get the highest prices on homes is to sell to people who aren’t looking to buy right now. The mortgages are packaged into a mortgage backed security. This is a security that’s traded and sold to investors. The investor is looking for income from the security.

The importance of inventory

Our inventory is actually fairly low compared to the amount of homes that are for sale in the metro area. The average for an area like Colorado is 25 percent of the inventory is for sale. As you can see from the graphic above, the metro area only has 13 percent of the inventory for sale. This is a pretty low inventory. If the city had an average of 25 percent of the inventory, home sales would go up by an average of 5%. When you look at the median sales price in Denver it is getting close to record levels. In August the median sales price was $439,000. It is hard to ignore the numbers and they are hard to ignore in the housing market. When you look at the metro area of Denver we had 7,602 single family home sales in August.

Why inventory is low

If you’re thinking about buying a home in Colorado, you should know there are more than 7,600 homes on the market in the state of Colorado. That’s a low number for a property the size of the state. As prices rise, the supply drops. Areas experiencing the most homes for sale are in and around Denver, Boulder and Fort Collins. While many homeowners are looking to move, they don’t see much action in these areas. This could lead to a longer wait time before sellers find the right home for them. However, in other areas, such as Grand Junction and Pueblo, there are more than 200 homes on the market. While this doesn’t compare to Denver and Boulder, it’s still a significant amount for the state.

How lack of inventory affects buyers

There is a lack of inventory in Colorado. This issue means buyers can negotiate for the price they want. The buyer wants the house and the seller is willing to meet their price. Because there is no inventory buyers are forced to bid against one another. This means more cash in the bank and little chance of losing their dream home. There are a lot of rules in Colorado. Some of those rules make it difficult for buyers. Not enough listings in your area? Don’t worry there are ways to get in on the action. Here is how you do it: Start searching for houses and apartments online. You can find everything from short sales to luxury homes. You can find everything from short sales to luxury homes. While on line you search for the homes you want to buy.

Why are prices rising?

There is a tremendous amount of demand from buyers on the market. The good news is this demand is being met by a limited number of homes for sale. While the number of homes for sale is at a historic low, the supply of homes in the US is at a historical high. So where is all the inventory? There are only about 5,000 homes for sale in the entire state of Colorado. The demand for these homes is far greater than the number of homes for sale. This supply and demand imbalance will continue to put upward pressure on prices. All signs point to the increasing demand outweighing the supply in Colorado’s real estate market. Without a significant increase in inventory, this trend will continue. Want to know more about the local market? Colorado offers different markets within the state.

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People are buying up Colorado Off Grid Homes and Survival Bunkers. Living off-grid in Colorado

Purchasing an Off Grid Home in Colorado: What You Need to Know

Buying a home that is off-grid takes a little knowledge of how homes actually function. Off-grid living isn’t for everyone and you really need to know you will be sacrificing some luxuries by living off the grid. It is a great thing to do if you are looking for helping the environment or wanting a bug out home for a survival bunker if the SHTF.

What is off-grid living?

Off-grid living is going off-grid electricity for your home. All electrical devices need power to function. Water may or may not be necessary, you will have to learn the particulars of the local conditions and what kind of water you have. It is a great concept, but it is not for everybody. Buying an Off Grid Home for your Family Off-grid homes have to be fairly well designed to maximize the amount of light and heat they generate. They have to be located in an area where you will have plenty of sun or at least close to it. The temperature needs to be fairly consistent and you need to take into account the amount of wind you are going to have to deal with. They will require maintenance and the infrastructure you build will require much thought.

What are the pros and cons of off-grid living?

Here are the pros and cons to off-grid living: Pros of Off-Grid Living

1. Off-Grid Living Cuts Energy Costs Living off-grid is great if you are trying to cut your utility bills by turning off your power grid. Turning off the power grid isn’t as hard as you would think and it might even save you money. Pros of Off-Grid Living

2. Healthier Planet If you are going off-grid you are doing your part to help save our earth and help it become healthier. There are studies that show if you live in an off-grid house your kids are less likely to get sick and stay healthier, that is because the fresh air you breathe is less polluted by the junk and chemicals that are in the air we breathe in the cities. Pros of Off-Grid Living.

How to choose the right property for you

There are a lot of homes listed on eBay and craigslist, but there are a few things to consider when you are looking for an off-grid home that doesn’t require an island. There are some problems with the homes you find on eBay and craigslist, some of the problems include: Price: Before buying an off-grid property, research the price. You want to be sure you can afford the property, otherwise you will be buying a house that may be lower quality than what you are looking for and can’t afford. Always make sure the property you are buying is comparable to the one’s you are already buying. Secure: After doing your research and determining what you can afford, look into the property carefully. If there is any kind of issue with the property you will want to research that item.

What is a grid-tie solar system?

First, you need to understand what a grid-tie solar system is. A grid-tie system is one that you install in a house and then the home must be hooked up to the grid for electricity. I would say the only ones that are usually off-grid are off-grid trailers and yurts. Grid-tie systems are solar panels connected in series to one outlet. This is what you will be seeing. On your Google earth, make a quick flight over your property. Here is an example: Grid tie Here is an example of a grid tie solar system. This particular system is used for a mobile home but can also be used for a cabin. The mobile home could be used as a summer home or a tiny house. There are many different options for these systems and you can have them fixed or mobile.

Why would I want and off grid solar system and how does it work?

As the cost of the energy in the United States rises, people are turning to different ways to cut costs. Options like solar panels and solar hot water systems can help lower your monthly energy bills. The average solar home utilizes 21 percent less electricity. In case you are wondering how much does it cost to power an off grid home, the answer is a very affordable rate of $75 to $130 per month, depending on the size of your solar system. How much does it cost to run an off grid home? You have to understand that you can’t live off of a cordless or battery charged system. To run the home, the solar panels need to be fully charged and installed at night and during the day. A solar system from a commercial manufacturer can cost around $4,000 to $5,000.

What is a Off Grid Home?

A true off-grid home is an absolutely self-sufficient home. It doesn’t rely on any forms of electricity or water. It is completely self-sustaining and uses all renewable energy, geothermal, solar, wind, and water. This is a great option for those that want a fun and adventurous lifestyle without ever seeing another human for a long time. It can be a really awesome way to live off the grid. These homes aren’t too hard to build, they just need to be carefully designed so that they work on the entire property. Most off-grid homes are also designed to accommodate a family of four, but any family size is fine. What About the Water? Living off the grid can be really cool for the kids and you for that matter.

Why would I want to live off the grid?

I have been in many survivalist groups and had several of the folks that are leading these groups tell me that I needed to live off the grid. A few reasons for this is because of what is happening in our world, especially with fracking. As it turns out, all this water being pumped out of the ground is not really going back in, because there is still a lot of oil in it, and more gas. So we have a lot of water that is being wasted, or what is called “fugitive” water. We also need to conserve on the electricity grid because, as most of you know, we are on a coal-fired grid. Most of the time that electricity is burned up in coal is the dust that can cause some health issues.

Preparation for an off grid home purchase

There are several parts to the prepping for an off grid home purchase. You first need to have a team of people that are knowledgeable about energy and getting power to an off grid home. You need an electrician to do the install of the electrical components in the home, a person to talk to about the micro-grid and make sure everything is up to snuff, and the insurance and financial experts that can help you get it paid for or figure out how to pay for it. It can be difficult to secure a loan to purchase an off-grid home because of the safety of off-grid living. You need to be sure that your investment is a safe one for your children and family. It is best to have your family at your house at least a week or two before the move.

How do you find a home that is off-grid?

Most homes on the market in Colorado, where I live in Grand Junction, will be for sale. Many of them will be a little older. These homes are off-grid because they have electricity in them. They may have solar panels or wind turbines. Some do not have electricity or use a generator to generate it. Some of the homes may have electric service, but are only seasonal and are switched to grid power during the summer months. To be considered an off-grid home, there must be: A separate “waste to energy” or energy service facility and A source of electricity, like an inverter that converts the direct current from the solar panels to an alternating current A water source that is off-grid All these things cost money and many people are strapped financially. There are even luxury off grid homes on the market.

Purchasing your first off grid property

The first thing you need to consider is if your property is well-located. Places such as nature preserves and national parks are great, but make sure the house is on top of any possible flooding or fire risks. If your house is not on top of any natural gas or power lines, it can be difficult to install generators, which can cost as much as your home. You also need to make sure your property can withstand a storm or power outage. Buyer beware! Many people assume they are buying an off-grid home. The house isn’t going to get struck by lightening or crushed by a giant tree falling on it, so you need to make sure it can hold up in a storm. What property should you look for?

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Affordable Housing Colorado

Finding Affordable Housing in Colorado

It seems like the entire state of Colorado has become the place everyone wants to live. It is so hard to find affordable housing when there are so many buyers driving up home prices. How can you find affordable housing in Colorado? Are there any homes available at a reasonable price? How can people afford to work in Colorado and live?

Danny Skelly Real Estate Agents

Colorado is Seeing Another Housing Boom

This has created a market heavily weighted to the seller side. Real estate agents from Evergreen to Denver are having a hard time finding homes for their buyers and when they do it turns into a bidding war and homes are going under contract for over-list price. You may ask yourself why this is happening. The main reason is simple. Supply and demand are working in our capitalist society. Some buyers may think this isn’t fair. Sellers seem to enjoy it. This just happens to be a period in time where sellers have more control. they are able to dictate terms and the market. There have been plenty of buyers markets so buyers shouldn’t feel too bad.

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Homes for Sale Evergreen CO Real Estate

Real estate agents Evergreen in Colorado, believe homes will retain their value, thanks in large part to their location. These luxury homes are in great places because of two primary factors – their background and how much traffic there is. Traffic is necessary if there is a lot of development taking place nearby, and the more people there are around, the more likely that development is to drive up the property’s value. For instance, luxury homes for sale evergreen, co in Edmond, Virginia, are valued at a reported six times more than homes in Edmond’s close suburbs.

Evergreen, Colorado

DIY Home Improvements Colorado Sellers Can Make When Listing Their Home

Even in a seller’s market like there is in Evergreen and Golden, CO a seller should fix the minimal amount of issues in their home. No real estate agent in Colorado would in this seller’s market you should do a remodel or get your home up-to-date. There just is no reason and a seller would never get their ROI they would want out of the project.

Mistakes People Make When Buying a Home in Southwest Florida

4 Mistakes That Plague First-Time Home Sellers and How to Avoid Making Them

Are you thinking about selling your home in Southwest Florida? If this is your first time going through the selling process, you may be wondering just how well things are going to go. Selling a home is usually a smooth process – there are thousands sold each day – but issues can arise if you're not careful. Let's explore four mistakes that are commonly made by first-time home sellers and how you can avoid them.

Trying To Sell Without Experienced Representation

The first and most significant mistake that some first-time sellers make is to try to go it alone. Selling a house is a major financial and legal transaction and one where experience is crucial in getting things right. Invest in an agent who has a track record for quick, efficient sales and you're going to have an advantage.

Choosing Emotion Over Reason

Next, you'll want to avoid letting your emotions control how you react or respond during the selling process. Many homeowners become emotionally attached to their homes, which is fine while you're living there but can be a problem when you're selling. It's important to let logic and reason guide the sale. Don't let yourself get caught up emotionally or you may make a critical mistake.

Pricing Outside Of A Realistic Range

Asking too much – or too little! – for their home is another common mistake made by first-time home sellers. It's critical to understand that the local real estate market has a lot of influence on the correct asking price for your home. Current listings and recent sales of similar homes in the area tend to set a price range in the minds of buyers, so these will need to be observed. Your real estate agent will be a big help in choosing the right sale price. 

Selling At The Wrong Time

The final mistake we'll cover today is listing your home for sale in the wrong environment. The local real estate market is in constant state of change due to a variety of factors. The seasons, other local home listings, interest rates, new home construction, local municipal zoning changes and all sorts of other factors can influence your sale. Unless you are under a time constraint, it's best to let your agent advise you when it's a good time to list your home. 

Selling your first home can be a daunting experience, but with the right frame of mind and professional representation, it will go smoothly. To learn more about the home selling process or to list your home for sale, contact us today. Our real estate team is happy to assist.
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