METRO DENVER REAL ESTATE MARKET HAPPENINGS!
Sterling Real Estate Group is is an independently owned real estate company, located in Lakewood, Colorado. Our real estate agents bring years of experience in real estate, business and customer service. We specialize in serving many of the Metro Area Denver and Aurora neighborhoods, as well as the cities of Lakewood, Littleton, Golden, Highlands Ranch, Centennial, Parker and Castle Rock. Our agents focus on the sale and purchase of residential properties as well as multi-family, rentals and fix&flip investments. We also have many agents who are very familiar with purchasing investment properties through your Self-Directed IRA, as well as if applicable, the ability to use Reverse Mortgages to purchase a home. Our goal is simple: To provide superior service to our clients while promoting a positive atmosphere for our Realtors.
Denver Colorado Home Trends
Seller Trends: March 2022, continued the trend of very high demand, an overall shortage of inventory and sky-rocketing home prices. The Spring market is starting with a big bump in new listings however, with March seeing an increase of 42.4% as compared to last month. Unfortunately, for buyers, they are moving just as quickly with the average days on market down to just 11. Buyers are facing higher prices with the average price for a single family home in March being $793,445 (an increase of 8% over last month) and the percent closed price to list price jumping to an astounding 106.5% from 104.8% from February of 2022. In March, 21% of closings were cash buyers. You would have to wonder where all these people are getting their money from? In my experience, it's not just corporations with the cash, many owner occupants are paying with cash as well. With the possibility of a recession around the corner and inflation at a record pace, people are trying to put their money into hard assets, to keep their cash from losing value, as the Federal Reserve continues to print more and more money. It will be interesting to keep an eye on interest rates as that could quell demand for those looking simply for a place to live and not as a safe place to invest.
MORE BAD NEWS for Buyers: For Buyers, as if the fact that they are having to give up nearly all their rights to get an offer accepted, plus pay way over asking, isn't bad enough, now interest rates are headed up too. Rates are now hovering around 5%, an increase of nearly one full point. The fasted rate increase in the past forty years. Many buyers are having to pay anywhere from 10% to 15% over asking, include an appraisal deficit gap (the higher the better) and purchase the home as is. For those sellers having to buy a replacement property, at least many of them are getting 60 days, rent free, after their closing to find their new home. It's risky even then. Hopefully though, as Spring arrives, more homes will come on the market and the competition will lessen.
At Sterling, our real estate agents are encouraged to explore various options in the marketing, financing, and selling of your home. We understand there is more than just one way to sell real estate. Therefore, we strive to provide a variety of tools, techniques and concepts to assist our realtors in creating and implementing the best marketing plan available to help you accomplish your real estate goals, while keeping your needs and your home specifically in mind. Can your current mortgage rate be assumed? Will it make a difference to close at the beginning or end of the month? Should I paint and get new carpet, or just offer an allowance? Are there tax consequences if I sell before two years is up? All good questions that could make a difference for a seller and why you need a professional and qualified Realtor. At Sterling, all of our real estate agents are required to pursue continuing education on a yearly basis to keep abreast of the most effective and cutting edge marketing and sales techniques in order to knowledgeably answer all your questions and to get your home sold in the shortest amount of time and for top dollar.
Our goal is to provide our home buyers with friendly, knowledgeable and personal service. Our Realtors are highly trained and experienced in assisting buyers in a wide variety of purchases, from HUD homes, foreclosures, short sales, new construction, as well as your standard listing. Many of our agents also specialize in the purchase of property through Self-Directed IRA's and when applicable, through the use of Reverse Mortgages. Whether your are looking to do fix&flips or fix&holds through your IRA, or use a Reverse Mortgage to purchase a home without making monthly mortgage payments, we can help guide you through the process. Our real estate agents have a comprehensive understanding of the various neighborhoods and market conditions within those areas and enthusiastically relay that knowledge and expertise to their buyers, making the buying experience a pleasant and informative one.
Spectra Mortgage was founded with the philosophy that a mortgage company should provide sound financial advice in the area of mortgage financing and that the people providing this service should be professionals. They believe that the key attributes that distinguish Spectra Mortgage from the others are Financial Expertise, Integrity, and Service.
Spectra Mortgage Corporation originates mortgage loans and provides mortgage services in connection with the acquisition or refinancing of owner occupied and investor owned single family, multi-family, and commercial property. They are also trained and can give sound advice with regard to Reverse Mortgages. Despite all the negative and false information regarding Reverse Mortgages, they can actually be used as a great financial planning tool. If you need help with a mortgage, or just have questions about your credit, contact Spectra Mortgage. They are located in Lakewood, Colorado and provide mortgage financing and mortgage services throughout Colorado. For additional information check out their website at: www.spectramortgage.com.
Relocating to Denver
Sterling Real Estate Group and all of our real estate agents want to welcome you to our fabulous city of Denver, Colorado, one of the country's most enviable places to live and work. Whether you are looking for panoramic views of the majestic Rocky Mountains, the nation's largest public park system, or 300 days of sunshine a year, Denver and her surrounding communities is the place for you. If you are relocating to the Denver area and in the market for a new home, we hope you'll find this site both informative and helpful. Feel free to use our Denver Metro IDX site to find your perfect home and when you are ready, please feel free to call or email if you have any questions or would like to see any of the fabulous homes available!