WinstonDowns

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

No Love Letters

Posted by on Jan 15, 2019 in Featured, Tips for Buyers, Tips for Sellers, Trends | 0 comments

No Love Letters

What’s a Love Letter? It’s an emotional appeal that Buyers sometimes make in the form of a letter accompanying their offer to purchase. Here’s an example: Dear Sellers,Our names are Diana and Tom Swan. We’ve been married five years now and have one son, Richard, who is 3 1/2 years old. We also have another baby who will join our family in December. We realize our offer may not be as high as other offers, however our first son has some social and behavioral issue so we are hoping to buy our home so we are close to a...

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Best time to Buy/Sell

Posted by on Jan 6, 2019 in Sell | 0 comments

This is a long post – sorry. It’s a complicated question. If you don’t have the patience, go ahead and skip to the Short Answer. The graph of Active Listings (by month) above shows hundreds or thousands of available homes every month of the year. So even though there are twice as many homes for sale in September, there is still plenty on the market in January. ‚ÄčIf you’re a seller, we know historically that competition tends to depress pricing; so is it better to sell when there is less competition (fewer active...

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Interest Rates: When to Buy

Posted by on Dec 19, 2018 in Buy, Money Matters, Sell, Tips for Buyers, Tips for Sellers, Trends | 0 comments

Historic interest rates have been declining since the 1980’s. When is the best time to buy or sell?

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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...

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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,...

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2018 Sales Data (updated)

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

2018 Sales Data (updated)

OK, it’s January and I’m mostly recovered from the holidays.  Here’s an update of my previous post from December. There were 33 Home Sales in 2018.  That’s about a 6% 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, 80% were Ranches.  The average ranch-style home was 1,935 sq ft (above grade), had 4 Bedrooms and 3...

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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...

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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...

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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 consider:

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