|
Did you know mortgage rates are the lowest they have been in the last 14 months? It was October of last year when they peaked around 8% and now they are in the mid 6s. In addition, as shown by the graph above, there are more homes available now (15,335 to be exact) then there has been since March of 2022 when there was only 6,883 homes on the market.
What Does This All Mean?
If you want to buy a house, now through the end of the year presents an opportunity we haven't seen in a long time. There is less competition which means you could get a lower price, and seller concessions (to go towards closing costs and/or a rate buy down), and have the seller fix more inspection items. Seasonally the market picks back up in February/March and competition increases, so depending on your current situation, this could be your best time to buy.
If you need to sell your home, the reality is it's not as easy as when inventory and rates were low. Many sellers are having to give more in price and concessions to be competitive, and homes are sitting on the market for an average of 39 days. In addition, there is a 40% chance your house will sell in the Denver Metro area. That's why it's more important now than ever to have a strong strategy to increase your odds of selling. I am not talking about just marketing. That is important, but marketing only gives you exposure, what matters is what you do with the exposure. My team spent 2 years researching and developing our innovative Sold in 65 program to solve this problem. By using it, hundreds of our clients have gone under contract in the first weekend. The traditional approach is broken and could cost you thousands of dollars. Before you sell, contact me and I can show you exactly how my team and I can sell your home for more money using a real strategy.
| 
