METRO DENVER REAL ESTATE MARKET HAPPENINGS!
Sterling Real Estate Group is is an independently owned real estate company, located in Lakewood, Colorado. In 2002, our company was created by Realtors for Realtors in order to cultivate a positive and supportive experience for both our agents and their clients. Our real estate agents bring years of experience in the real estate industry, business community and customer service arena. We specialize in serving many of the Metro Area Denver neighborhoods, including the cities of Aurora, Arvada, Lakewood, Littleton, Golden, Highlands Ranch, Centennial, Parker and Castle Rock. Our agents focus on guiding the consumer through the sale and purchase of single family residences, attached multi-family homes, investment properties and fix&flip opportunities. We also have several agents who are very well versed with the purchase of investment properties through Self-Directed IRA's, as well as when applicable, the ability to use Reverse/Home Equity Conversion Mortgages to purchase a home. Our goal at Sterling Real Estate Group is simple: To provide superior service to our clients while promoting a rewarding and family-sense atmosphere for our agents.
Denver Colorado Home Trends
Seller Trends: The overall market is still favoring sellers, but the balance begins to tip toward the buyers as the sales price increases. The market is still in desperate need for Single Family Homes under $500k, with Days on Market hovering around 11 days. With homes listed above $1.5 million, the market starts to decelerate and turns into a slight buyer's market. The bottom line is that the Metro Denver housing market varies by price point and neighborhood, especially for the luxury home market. Inventory for March 2024 is down nearly 2% year over year, but up 17% month over month, as the Spring selling season is upon us. Home prices are still increasing about 5% year over year, however, that is basically just keeping up with inflation, with the median sales price hovering around $600,000. Sellers too need to keep an eye on interest rates as rising rates could suppress demand for those looking simply for a place to live and not as a safe place to invest. Regardless of the price range, pricing homes correctly is fundamental to successfully selling your home. However, if you take the time to prepare your home for market by de-cluttering and making minor repairs and staging as needed, you can still anticipate getting a good offer for your home. The agents at Sterling Real Estate make it their mission to make sure your home is prepared properly and advertised in the best light possible.
Buyer Trends: Rates are down nearly 1.5% from their highs of 8% and inventory is on the rise now too as we enter the Spring buying season. For Buyers, things have changed dramatically since March 31, 2022, when they had to give up nearly all their inspection and appraisal rights, just to get an offer accepted, not to mention paying 10% over asking! However, home prices and interest rates combined are still making home affordability tough for many buyers in the Denver Metro area. Many first-time buyers are still having to compete with cash offers from investors looking to protect their money by investing in hard assets, such as real estate, and/or baby-boomers turning towards retirement with a goal of downsizing. As the Summer of 2024 arrives, more homes should come on the market, which may put pressure on home prices and give Buyers a little more leverage throughout the real estate transaction. Interest rates too, may continue to come down as the 2024 election nears, giving Buyers more purchasing power. If you are in the market to purchase a new home, contact any one of the experienced Realtors at Sterling Real Estate to help guide you through the complicated and competitive home buying process.
Seller Representation
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 I've lived in the home for two years? All good questions that could make a difference for a seller and why you need a professional and qualified Realtor. We too understand the delicate nature and maneuverability required when listing your home and needing time to find a replacement property, once you become a buyer. At Sterling, all of our real estate agents are required to pursue continuing education throughout the year to learn the most effective and cutting edge marketing and sales techniques. They too consistently strive to stay abreast of all the changes in the industry in order to knowledgeably answer all your questions and to get your home sold in the shortest amount of time and for top dollar.
Buyer Representation
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. Our experienced agents specialize in the purchase of property through VA, FHA and Conventional Loan products, Self-Directed IRA's, and when applicable, through the use of Reverse Mortgages. Whether your are looking to buy a primary residence, invest in 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. We understand that this very well may be the most expensive purchase you ever make in your lifetime and we here at Sterling strive to make it a safe and effective purchase.
Spectra Mortgage Company
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.
Wayne Tucker, the owner, operator of Spectra Mortgage, 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 in the Denver Metro area. He is a CPA with extensive training and can give sound advice with regard to Reverse Mortgages. Despite all the negative and false information regarding Reverse/Home Equity Conversion 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 Wayne Tucker of Spectra Mortgage. He can help provide mortgage financing and mortgage services throughout Colorado. For additional information check out their website at: https://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 are 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!
BECOMING A STERLING AGENT
If you are new to the business, or just want a family-oriented place to hang your license, please give Rich Klatt or Deborah Tucker a call, or drop us an email. We provide training and mentorship programs for newer agents as well as competitive splits for experienced agents, who are tired of feeling like a little fish in a big pond. We are here to support you and your business and offer an array of business models from a full concierge service, to lower cost transaction coordinators or just having a managing broker who cares enough to walk you through any difficulties or questions that come up throughout the transaction. We both have well over 20+ years of experience in the real estate business, are still working brokers, and understand that no two deals are ever the same. We provide office space, color copiers, marketing materials and have a wide range of referral networks to make you a more productive and efficient Realtor. Call today to schedule an appointment or to learn more about Sterling Real Estate Group and how we can help you become the best you can be.