Bandy Team Real Estate Blog: February 2016

Feb 25, 2016

2016 Starts Strong for the Metro Denver Housing Market

Following a record year for the Denver area real estate market, 2016 started strong. January’s indicators showed sizable increases in the number of new listings that came on the market, an indication that sellers are looking to get a jump on the selling season and take advantage of what continues to be a seller’s market. January saw 4,148 new listings of homes for sale, a 63 percent increase over last month and three percent more than last year. These new listings were snapped up quickly by eager buyers.

Indicative of the competitive housing market, sellers continued to see extremely quick sales cycles. The average days on market was just 38 days, one day less than January 2015. Buyers began scooping up the new inventory quickly, as 4,590 listings went under contract, a 23 percent increase over last month and two percent higher than last year. Sales saw a seasonal decrease of 35 percent month over month, but were up four percent year over year.

“A solid influx of new listings gave the metro Denver housing market a boost of momentum to start off the New Year,” said Kirby Slunaker, president and CEO of REcolorado. “If January is an indication of what to expect in 2016, we can look for a competitive and fast-paced market, with inventory remaining tight and prices holding strong. Now is a great time for sellers who have been waiting to put their home on the market.”

Inventory of available homes for sale in the greater Denver area remained at historically-low levels to kick off the New Year; however, a surge in new listings pushed the number of active listings above what we saw last year at this time. At the close of January, there were 5,282 active listings on the market, a three percent increase over January 2015.

Home values continue to be strong. While January average sales prices remained flat month over month, they increased 13 percent as compared to last year. January ended with the average sale price at $370,378, an increase of 49 percent in just four years.

“Given the competitiveness of the marketplace, it’s going to be critical for buyers and sellers to get the most up-to-date listings of homes for sale, and leverage the many resources that are available to them as they coordinate their efforts with an experienced REALTOR®,” said Slunaker.

Let the professionals at the Bandy Team help you buy or sell a Denver property, contact us for a no-obligation consultation. If you are thinking about buying Denver Real Estate, we can show you some terrific properties, includingreal estate for sale in Castle Rock, homes for sale in Parker, as well as, properties in Aurora.

Whether you have a house in Castle Pines or property in Centennial, we can sell your home!

Curious about the value of your Denver home? Click here for a quick estimated home value.

Our trusted professionals will be there to help you every step of the way!

Until next time,

Marianne Bandy, Team Leader

The Bandy Team

Keller Williams Park Meadows

DenverHomeSearcher.com

720-466-3790

Feb 23, 2016

Denver Home Remodeling Projects That Provide Big Returns

Many times, upgrades and home improvements are needed but not all can reward you the most when you are planning to sell in a few years. Denver homeowners that are looking to make the biggest return on their home improvement projects should consider these renovations.

NATIONAL ASSOCIATION OF REALTORS “2015 Remodeling Impact Report” determines current project costs and the cost recovery percentage. They compare construction costs with resale values and get other information like how satisfied homeowners are with the projects when finished. Low maintenance, energy efficiency and low-cost upgrades are some of the factors to be considered.

Replacing your current front door with a new steel model would increase your curb appeal. A new steel front entry door has a national median cost of $2,000 and can recover 75% of that cost at resale. The good news is that installation of a steel entry door is one of the least expensive projects. Home improvement projects such as new siding and fiber-cement siding also show a strong payback of 79% in the “2015 Remodeling Impact Report”. National Association of Realtors President Gary Thomas said, “Realtors know that curb appeal projects offer great bang for your buck, because a home’s exterior is the first thing potential buyers see.”

HouseLogic.com, which provides information to consumers on a wide variety of remodeling projects such as kitchen and bath remodels, including the recouped value of the project based on a national average, reported that kitchen upgrades such as new flooring and countertops, and modestly priced appliances are popular projects. There are a few project renovations that will also bring Denver homeowners a high return on their investment according to the report. Garage door replacement provides a big boost for your home’s curb appeal at a relatively modest cost. That’s especially good news if you’re thinking about selling your house. Deck and Patio addition projects are also on the rise and an option that will give your home a bankable personality.

Are you ready to buy a Denver Property or sell a home in Denver? Contact the Bandy Team to see what we can do for you. We’re happy to answer any questions you may have about metro Denver real estate. We would love to show you some properties in Denver Highlands, homes in Cherry Creek, or real estate in Lowry to help you get started.

Curious about the value of your Denver home? Click here for a quick estimated Denver home value. Our trusted professionals will be there to help you every step of the way!

Until next time,

Marianne Bandy, Team Leader
The Bandy Team
Keller Williams Park Meadows

365DenverHomes.com

720-466-3790

Feb 19, 2016

Tips to Maximize Your Efforts In Selling Your Denver Home

Getting ready to sell your Denver home? Just a little effort can go a long way toward giving your home the competitive edge you'll need to move your property successfully. We've got some great ideas for getting your place market-ready with these steps that you can take to get well prepared for a successful sale.

Attention to small details- Take a good look at your floors. Even if they're clean enough for you, floors that are thoroughly worn, deeply stained or seriously dated need to be addressed. If your floors are carpeted, have them steam-cleaned. Make sure they’re still in decent shape and it goes the same with linoleum and tile floors. Plan to budget a few hundred dollars to bring them up to snuff depending on the condition of your existing flooring. Also, figure out the focal point of each room, and then arrange your furniture to highlight it. Don't block the view of a window or fireplace. Spread clumped furniture to

show the room to its best advantage. If you don't feel confident doing this yourself, then try to invest a few hundred dollars to hire a professional stager.

First impressions are critical – Consider your home's curb appeal. It is a fact that most people begin their home search online so the photos of your home need to show its very best advantage. Landscaping and the front of your home should be top-notch. Make sure your lawn is cleared of seasonal debris and nicely manicured. If the driveway or walkway are cracked or in disrepair, you'll want to address those issues as well. Allow yourself to spend a few dollars for landscaping and you’ll reap the benefit.

Hire the best agent- Finally, and most importantly, you need someone who feels great about your home, and who has the experience and systems in place to make the sale happen. A well-experienced agent can help determine the correct price range for your home, can point out things you should do to make your home more appealing to buyers and devise the most effective marketing plan.