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 the Lakewood, Littleton, Denver, Arvada and Highlands Ranch areas and focus on the sale and purchase of residential properties as well as investment (fix & flip) properties. 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: The number of Active Listings for both attached and detached homes, in the Denver metro area reached a record low at the end of February. There were only 3,963 active listings, which is down 6% from January and 2.8% from February of 2015. These are the lowest inventory levels since they started tracking the market back in 1985. However, what really hits home is that there are now twice as many residents living in the Metro area. There were 100,000 new residents that moved into the state in 2015, with 80,000 of those moving into the Denver Metro area. So the competition for homes remains extremely tight and unless there is a substantial increase in home inventory this Spring, Buyers will have trouble finding a suitable property and even more difficulty in simply getting their offers accepted.
Throughout last year, even with low inventory levels, the monthly sales numbers continued to increase. However, the February numbers show a change in this trend, with sales numbers down 6.99% from the month before and 10.3% year over year. However, prices for both single family homes and condos are continuing to rise with the average sales price increasing to $377,917 which is 9.04% over February of 2015. The average sales price for single family homes has increased to $417,734, while the median price is $361,500. Those prices reflect an increase of 8.10% and 9.71% respectively . The average sold price for condos is up 16.05% year over year and is $287,703, with the median price sitting at $227,000. Days on market has trended up, but if you have your home professionally cleaned, staged and marketed aggressively, you can expect to receive top dollar, plus a quick sale. When pricing your home, you want to make sure to keep up with the rising prices, but not price it too high, or there is a chance your home will not sell. Make sure you hire a licensed Realtor, who is familiar with the market and your specific area, to make your real estate experience a good one.
Still some good news for Buyers: The good news for Buyers is that interest rates continue to hover at historically low rates. If you have a decent credit score, interest rates are still below 4.0% for both Conventional and FHA financing and those rates are expected to stay pretty steady through March of 2016. However, as a buyer, you will need to act quickly if you see a home that you really like. Since inventory is so tight, the days of 5-10 offers, all over asking are again typical, even before the Spring selling season starts. The competition for condos and townhomes, under $250,000 is really crazy, but if you can get into a place, your total payment should be less than rent. The new lending laws that went into affect on October 3, 2015, had agents scheduling closings about 45 days out. However, as both lenders and title companies start to get more familiar with the changes, closings are starting to get scheduled closer to the typical 30 days. If you have a closing date in mind, you may want to start looking 75-90 days out from your anticipated closing date, in order to get into your new home as planned.
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. Many of our agents also specialize in the purchase of property through Self-Directed IRA's. Whether your are looking to do fix and flips or fix and holds through your IRA, we can help guide you through the process.
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 and professional real estate company listings . All of our real estate agents are required to pursue continuing education on a yearly basis and have undergone a thorough State and Federal criminal background check. 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.
This division is devoted to the discerning buyer and/or seller in the luxury home market. The Sterling Reflections marketing plan is reserved for those homes that are at least twice the median sales price for the metro area. If you are looking to buy or sell a luxury home, please contact anyone on our luxury home specialist staff for a description of this extraordinary service.
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. 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.
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 in the market for a new home, wishing to sell your current home, or are interested in the fix&flip investment market, we hope you'll find this site both informative and helpful. Sit back and relax as you search our Denver Metro List IDX site to find your perfect home!