WinstonDowns

by David Halterman, “Living and Working in Winston Downs”

A Cautionary Tale: Lender Letters

Posted by on Dec 6, 2018 in Sell | 0 comments

A Cautionary Tale: Lender Letters

The Lender Letter A Loan Commitment Letter is something that Buyers should get before they even start looking.  Some will meet with a lender, do a pre-qualification type of application so they know what they can afford, and the letter will follow shortly thereafter.  Regardless, it’s a must have when submitting an offer.  If I receive an offer without one, we always counter that Seller’s acceptance is contingent upon receipt within, say, 24 hours. Even then, it’s not a slam dunk.  This is the “Cautionary” part:...

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December Market Trends

Posted by on Dec 5, 2018 in Buy, Sold, Tips for Buyers, Tips for Sellers, Trends | 0 comments

Denver market shows signs of slowing, but only slightly: Keep in mind that in an overheated market, a “slowdown” might just make it a good market (for Sellers). You can calculate an “Absorption Rate” by dividing the Active Inventory (7,530) by the monthly sales (3,732) = 2 months.  Friends, that is still a really good absorption rate (3-6 months is “normal” . . . ).   Average and Median prices haven’t changed that much, and it could just reflect where the activity is in the marketplace, e.g., fewer...

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2018 Sales Data

Posted by on Dec 4, 2018 in Sell | 0 comments

2018 Sales Data

The year isn’t quite over yet, but I have some time now (Dec 4) and will try and update after the first of the new year.  Here’s what has happened in Winston Downs in 2018: There were 31 Home Sales in 2018.  That’s about a 5.5% annual turnover for the neighborhood – a pretty low rate historically (about 10% might be considered average in most markets). Makes sense based on the low-inventory status of our Denver housing market. Of those sales in Winston Downs, 81% were Ranches.  The average ranch-style home was 1,923 sq...

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Average Home Price

Posted by on Nov 15, 2018 in Buy, Sell, Trends | 0 comments

Are we seeing any decline in Denver home prices?  Not yet.  At this writing, we’re seeing some seasonal slowdown – fewer showings – and that may have a temporary affect on pricing.   Inventory is up This could impact prices, too, but if you think about it historically:  remember that Denver had over 20,000 active listings for much of the 1980’s.   Even if the supply gets all the way back to levels of 5 years ago, there’s still a lot of...

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2017-18 crime stats for Winston Downs

Posted by on Nov 15, 2018 in Crime | 2 comments

Winston Downs is included in the Washington, Virginia-Vale statistical neighborhood, which encompasses a wider area than just our neighborhood. This is a crime statistics map for Washington, Virginia-Vale  (Winston Downs is outlined in orange).  Click on the map to enlarge it:   Click here for the crime stats in table format. Crime stats for this neighborhood can also be accessed this way: The Denver Police Department page at www.denvergov.org has a “Crime Information” tab where you can find monthly crime data sorted by...

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The Benefits of Home Staging

Posted by on Nov 15, 2018 in Get Ready, Sell, Tips for Sellers | 0 comments

Property staging is “intelligent merchandising.”  This is the process of analyzing the property, maximizing the “equity” and minimizing the excuses a buyer may use to discount or eliminate the property from their A-list.  It’s not decorating, but rather presenting the home in such a way that emphasizes and reveals the benefits (equities) of the property without distractions. Over 96% of Brokers say that buyers are affected by home staging Staged properties are twice as likely to receive full price or more Kitchen...

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How Mortgage Strategy Differs for Millennials, Gen Xers, and Baby Boomers

Posted by on Mar 9, 2016 in Buy, Tips for Buyers, Trends | 0 comments

Changes in market conditions, mortgage qualifying and changes in the nation’s economy have caused Millenials and Gen-Xers to have some anxiety about whether they will ever enjoy the benefits of homeownership. Some strategy and planning is called for. Here’s a good summary of things to...

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Selling your Home: step-by-step

Posted by on Mar 25, 2015 in Tips for Sellers | 0 comments

Selling your Home: step-by-step

Some things change fast in real estate: markets go up and down, contract language is updated, mistakes and lawsuits give rise to new regulations and rulings.   But other things remain the same, year after year.  Here are the things our Colorado Department of Real Estate (DORA) wants you to know about the process of selling your home: Determine goals or outcome: Once the decision to sell has been made, a number of other questions come to mind. What is a fair price under the current market conditions? What are the current market conditions? How...

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Do HOAs Affect Home Values?

Posted by on Oct 12, 2014 in Featured, Money Matters, Sell, Trends | 0 comments

Do HOAs Affect Home Values?

Research suggests that HOA’s have an effect on home values – almost always for the better. “Theory does suggest that  HOAs increase home value. The rights and responsibilities that come with an HOA affect a home’s value, just as do the number of  bedrooms and the quality of the local schools.  A great house in a community with a poorly designed or badly managed HOA is a great house in a bad neighborhood.” – Amanda Agan and Alexander Tabarrok , George Mason University. The Downside Since most homes built in...

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The Appraisal: 10 things your broker should do

Posted by on Sep 11, 2014 in Featured, For Sale, Sell, Tips for Sellers, Working with Brokers | 0 comments

The Appraisal:  10 things your broker should do

Appraisals are sometimes a source of confusion for both Buyers and Sellers, but usually for different reasons. Review:  an appraisal is an opinion of value prepared by an authorized person.  In Colorado, Appraisers are licensed and regulated by the State. There are different levels of licensure, depending on the qualifications of the Appraiser. Buyers sometimes think that the appraisal will “protect” them from overpaying.  There is a clause in the contract, after all, that says in effect: “if the appraisal doesn’t come...

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