Metro Denver Real Estate Market Update – April 2016

Prices Reach All-Time Highs, Inventory Levels Increase

Spring Has Sprung for the Denver Area Housing Market. The latest data from REcolorado market update reveals that home prices have reached another all-time high. Demand remains strong, with number of home sales seeing an impressive 39 percent jump from February.

All month-over-month comparisons indicate the housing market for the Denver Metro and surrounding area is holding strong, thanks to an influx of new listings that boosted the number of Denver homes for sale. At March month end, inventory levels were up 10 percent as compared to last month and six percent year over year. Still, the weeks of inventory available remained at six, meaning it would take just six weeks to deplete existing inventory if sales continued at the same pace.

The average price of a Denver-area home continued its steady upward trend, reaching a record high of $387,547. Average sales price increased four percent month over month and nine percent year over year.

“Continued low interest rates combined with an undersupplied market put Denver-area home listings at a premium,” said Kirby Slunaker, president and CEO of REcolorado. “For those who have ever considered putting their home on the market, now is about as good as it gets.”

March home sales showed a 39 percent increase as compared to February. With 4,111 homes sold, sales were down 11 percent as compared to last year at this time. March ended with 6,083 homes under contract, 15 percent higher than last month.

Now is a great time to buy a Denver-area home! At The Bandy Team, we help new Denver homebuyers as well as sellers with all their real estate needs and we will help you work through any issues that may arise in buying or selling a Denver property.

We are ready to find the home that's just right for you. Your perfect Washington Park property, Larkspur home, or Franktown house is waiting for you!

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

BandyHomes.com

720-466-3790

Downsizing Your Denver Home – A Trend We Can Live With

In tough economic times, in Denver and all across America, people want to be more energy efficient and more environmentally conscious.  Downsizing to a smaller home is a growing trend for small families, empty-nesters, and seniors, due to lower mortgage costs, maintenance issues, or energy concerns. Smaller tax and utility bills follow the smaller mortgage, so moving to a smaller home is a great way to cut monthly costs.

The downside of downsizing for most people is that reducing the space also means "reducing the stuff."  People tend to fill up the space they have with things that soon become "necessities," so it's hard for most people to pare down their possessions to what will fit in a smaller space.  Half the space usually means half the furniture can't make the trip to the new home, while other things such as clothes, appliances, TVs, sports equipment, gadgets, and other things will have to be evaluated in view of the amount of space in the new home. 

Another consideration is that the new space might be configured differently so that a couch or wall unit that should technically "fit" just won't go through the door, down the stairs, or look right in the room given where the doors and windows are placed or how the wall is angled. Measuring the new space, eyeballing the angle of the staircase, or laying out the furniture on a blueprint should help facilitate the decision about the fate of some furniture.  Even big screen TV's might be a casualty of the move.

After a brief period of mourning, a downsizing strategy will help pare what's moved down to a manageable size and help reduce moving costs as well: purge, purge, purge is the goal.  This can be accomplished by selling what's not making the move through garage sales, eBay, Craigslist, or signs at the grocery store, donating it, or throwing it out - or a combination of all three.

People sometimes make the mistake of moving much more than they need in anticipation of making choices about what to keep once they have moved or sorting it all out later.  This not only increases moving costs, but either clutters up the new space or postpones making a decision to get rid of unused items. The age old rule-of-thumb in deciding whether to keep or part with things is "if you haven't used it in a year, you don't need it."

When people move, they are often charting a new course in their lives.  The upside of downsizing the "stuff" is the new home starts out uncluttered.  It's hard to do that in a warehouse of old furniture!  Often, getting rid of non-used items is a ritual cleansing that makes the move to a new home even better.

 

Looking to downsize your Denver home?  The Bandy Home Team can show you the best in right-sized homes. Whether it's a  Tallyns Reach Real Estate in Aurora or homes in Littleton, we can definitely help you to find your perfect home​, in the right community, within your lifestyle needs.​

 

 

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

BandyHomes.com

720-466-3790

How Self-Employed Denver Homebuyers Can Get a Mortgage

As a self-employed business person, you already know the ups and downs of being in business. You love the control and the flexibility, but may worry about generating a steady stream of income. It turns out that banks also worry about that income stream when it comes to considering you for a Denver mortgage.

Fortunately, there are several steps you can take to help achieve your dream of owning a Denver home if you are a Self-Employed Denver Homebuyers.

• Think ahead when filing your tax returns. In the current environment, banks want to look at your average income based on two years of income tax returns. Although it might help lower your tax liability to deduct all of your business expenses, don't make your net income so low that you don't qualify for a mortgage.

• Watch your credit score. It might be tempting to charge lots of new equipment on your credit card, but you could be harming your credit score and your ability to qualify for a mortgage if you aren't paying on time. If you must buy business related items, try to wait until after you've closed on your mortgage.

• Build your bank account. It's expensive running a business and paying a mortgage. Lenders want to know you have a solid cash foundation to cover all of your expenses. Plus, you'll need to have money available for a sizable down payment and closing expenses.

• Have your paperwork in order. When you work for somebody else, you have to provide W-2’s as proof of income. When you work for yourself, it gets trickier. You'll need to sign a Form 4506 which allows lenders to request your tax forms directly from the IRS and you may also need to furnish a current profit and loss statement. You could be asked for a list of clients or other sources of cash flow. Find out what the lender is going to require from you as a business owner, and then have that paperwork ready when you request a good faith estimate.

• Meet your prospective lender in person. When you run your own business, your time is one of your most valuable assets. But take some time out of your busy schedule to invest in yourself, and meet personally with a mortgage broker or prospective lender. You can discuss all aspects of your business, answer any questions directly, and consider options that might be more effective for you because you've sat down and discussed your unique situation in-depth with a professional.

If you're a self-employed business person who is ready to buy a Denver home, our team of real estate experts at Bandy Homes can answer your questions and show you some terrific homes in Aurora, real estate in Castle Rock, including homes in Castle Pines and a wide variety of affordable homes in Littleton.

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

www.BandyHomes.com

720-466-3790

The Pinery – A Golf Community in Parker Colorado

If you love to golf and are looking for that one-of-a-kind home, then look no further than the master planned golf community- The Pinery. Located just to the south of Parker, CO in Douglas County, it is a beautiful place to call home. The community includes homes from the mid-range to upper-end along with townhomes on spacious lots that are intertwined with the beautiful fairways of The Pinery Country Club featuring 27 challenging holes designed by PGA Pro David Bingham in 1975. The area is filled with towering ponderosa pine trees providing you a sense of privacy and seclusion, which is hard to find in this busy world.

The Pinery Country Club in Parker re-defines the private club experience. Distinctly family-friendly, the club boasts its array of golf, tennis, fitness, dining and social amenities. The personalized service and exclusive privileges that have earned it recognition among the finest private golf and lifestyle clubs in Colorado.

You will find variety of homes throughout the community ranging from Ranch, French Country, and Beaver Creek to Colorado Contemporary. Home prices range from $300,000 to $1.5 million. The Pinery in Parker, CO provides its residents with a Colorado feel that is full of amenities such as nine lighted tennis court (three indoors), a racquet club, a clubhouse-restaurant, swimming pools, a bird sanctuary, High Prairie Farms and the world-class equestrian center. There are also many planned community activities throughout the year.

Students living in The Pinery attend schools in the highly rated Douglas County School District. Initially, the Douglas County School District received the second highest rating of Accredited during its evaluation from the state. School districts can receive five different ratings: Accredited with Distinction, Accredited, Accredited with Improvement Plan, Accredited with Priority Improvement Plan, and Accredited with Turnaround Plan.

Are you thinking of owning a home in The Pinery? At The Bandy Team, we help new Denver homebuyers reach their dream of home ownership. We help our clients’ work through the many issues that may arise in buying or selling their Denver property.

If you are also thinking about buying Larkspur Real Estate, or looking for properties for sale in Canterberry, The Bandy Team is here to serve you.

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

BandyHomes.com

720-466-3790

Coming Soon: 561 W 118th Ave, Northglenn, CO 80234 – Call 720-872-0862

 

For Sale- Ranch Style Home in Northglenn, CO

List Price: $273,800

Showings start at Open House on Saturday 4-23-16,  11:00 am 3:00 pm.

Flexible Ranch can accommodate your large crew! 3 bedrooms up and 3 basement non-conforming bedrooms provides room for everyone. Easily fit your crew around the table in the dining area. And, plenty of room in the Kitchen with lots of counter space and convenient cupboards so little helpers can help cook. Tons of entertaining options with a large living room, large family room with a wood burning stove, and a spacious back yard with a big, mature garden.  This home is pet and smoke free!  Don’t miss the huge project space in the 24 x 36 heated, detached garage and adjacent 12 x 24 work room. Plenty of parking for everybody.

Give your school car-pool driver a break. The school bus picks up kids at the neighborhood park (just 2 blocks south) and takes them to each of their schools. Day care is also just 2 blocks away. In the AM, buses leave every 10 minutes from the RTD Wagon Road Park-n-Ride (2 blocks north) for commuting to work or downtown activities.  Access to the 28 miles of the Northglenn Greenway Trail system are right in back of the house.  A 10-minute walk to the east takes you to the Northglenn recreation center  and E B Rains Park with the associated Webster Lake , which offer many activities. Within a 15 minute walk are dozens of eateries, stores of all sorts, dentists, doctors, the Kaiser Permanente facility;  even a hospital is going up.  So many things are in walking distance you could, literally, live without a car.

Detached heated garage 24 X 36 – 8’6” Ft Door, 10 Ft Ceilings. Hardwoods under carpet in living room and 2 bedrooms upstairs.  Huge mature garden area. All upgrades and remodeling were permitted.

 

See virtual tour here.

CURIOUS ABOUT YOUR METRO DENVER HOME VALUE ?  FOR AN INSTANT FREE DENVER HOME VALUE ESTIMATE CLICK HERE.

SEARCH ALL HOMES FOR SALE IN DENVER METRO AREA

Marianne Bandy, Team Leader

The Bandy Team
Keller Williams Park Meadows
Serving Metro Denver Home Sellers and Buyers for 15 Years

BandyHomes.com

720-872-0862

MARIANNE BANDY PRESENTS: 9416 ASHBURY CIRCLE #102, PARKER, CO 80134 – CALL 720-872-0862

Get More Details on 9416 Ashbury Circle #102, Parker, CO 80134.

See More Photos of this Parker CO Townhome.

 

List Price: $269,500

3 BR, 1 Full/2 Three-Qtr./1 Half Bath, 2 car tandem garage, partial basement is fully finished.

HIGHLANDS AT STONEGATE NORTH

Amazing location!! 3-bedrooms/4-baths/2-car tandem garage for $269,500? CRAZY! Located just off of E-470, just minutes from Light Rail Station at Lincoln. Walk to Mammoth Heights Elementary, Chaparral High School, shopping and restaurants. Kitchen includes all appliances and opens out to your own patio. You will also find a breakfast bar that seats 3 quite comfortably. The Laundry Room is upstairs to make Laundry Day a Breeze! Never again trudge through snow, rain or wind because you will have an Attached 2 Car Garage. And, enjoy our Colorado cool evening breezes on your private front covered patio. This spacious unit awaits your arrival!

Property Type: Single Family-Attached
Style: Townhouse
Year Built: 2006
Total Square Feet: 1,400 (approx.)

School Information:

District: Douglas Re-1

Elementary: MAMMOTH HEIGHTS

Middle: SIERRA

High: CHAPARRAL

Interior Features:

Appliances: Dishwasher, Disposal, Microwave Oven, Refrigerator, Range-Oven
Flooring: Vinyl, Laminate, Carpet
Cooling: Central Air, Ceiling Fan(s)
Heating: Gas Heat, Forced Air
Basement: Finished, Slab, Partial
Doors/Windows: Double Pane
Fireplaces: 1, Gas logs, Family Room
Additional Interior Features: Open Floor Plan, Vaulted, Walk-in Closets, Window Coverings

CURIOUS ABOUT THE VALUE OF YOUR METRO DENVER HOME? CLICK HERE FOR AN INSTANT FREE HOME VALUE ESTIMATE. 

SEARCH ALL HOMES FOR SALE IN DENVER METRO AREA

Marianne Bandy, Team Leader

The Bandy Team
Keller Williams Park Meadows
Serving Metro Denver Home Sellers and Buyers for 15 Years

720-872-0862

Six Ways to Improve Your Credit Score for a Denver Home Purchase

You've found the Denver home of your dreams, and you've secured a mortgage with a fantastic rate. A word to the wise: keep your credit score in pristine condition; it will affect your ability to refinance or should you choose to purchase another home, your ability to secure financing for that property. Here are six ways to manage home-related spending, all while keeping your credit score in a winning position.

1. Postpone refinancing plans until your credit is totally clean

The smallest flaws on your credit report can cost you money. Get a copy of your credit report annually, and check it closely. If there are potential problems, consider postponing any activity such as refinancing or a home equity line of credit until problems are handled.

2. Pay your mortgage on time

Not all late payments are created equal. Almost nothing hits your credit score harder than a late mortgage payment. Payment history generally accounts for 35% of your credit score, and credit-scoring agencies consider late home payments to be more serious than late credit card or car loan payments.

3. Think hard before taking on a second mortgage or a home equity line of credit (HELOC)

Taking a second mortgage, or HELOC, can have a negative impact on your credit score, because 30% of your credit score is based on how much you owe to creditors. Paying the loan on time will help. Also, you can mitigate the credit score damage of a HELOC by staying within 30% of the loan limit.

4. Protecting your mortgage also protects your insurance rates

Late payments on your mortgage may also affect your home and automobile insurance rates, potentially costing you hundreds of dollars a year.

5. Pay your utility bills and property taxes on time

If you’re late on your utility bills, your account could be assigned to a collection agency. That agency, in turn, may report your delinquency, causing a drop in your credit score. Late payment of property taxes could also affect your credit score if you find yourself with a lien on your property. Since liens are public records, they may appear on your credit report and might cause a drop in your credit score.

6. Avoid taking equity in the deal if you’re refinancing

Refinancing your home generally won’t have an impact on your credit score as long as you continue to pay your loan on time. However, if you extract equity in the deal, you could marginally affect your credit score because the amount you owe will increase.

The Bandy Team of real estate experts is ready to help you find the perfect new Denver home. Considering relocation to Denver or the surrounding area? Read some Bandy Team testimonials, and see how we can provide all the help you need to make an easy transition into a home in Saddle Rock, housing near Fitzsimons, (Anschutz Healthcare Campus) or property in another Denver community that's just right for you.

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

BandyHomes.com

720-466-3790

Tips for finding problems in an old Denver home

As a homeowner, there are problems that you may come across that you will need to fix. If you own an old Denver home, there may be hidden damage that you cannot find until it has become a huge problem. You could save thousands of dollars by knowing early the possible damages that may be concealed.

Water damage is one of the common problems you may find. Older homes are more likely to be susceptible to this. You will want to look at the roof or wallboards to see if they are rotted or loose and also look for any roof shingles that may be damaged. These will be your first signs that there is an even bigger problem lying underneath. You should also look at your gutters or downspouts to ensure they are connected so that the water is draining away from the house and to the proper place.

Any water in the basement, whether it is from leaking water from outside or pipes, can compromise the foundation if not fixed immediately.

Knowing what to look for will help prevent future problems from occurring and give you warning signs to get things fixed.

Another potential problem may be in the electrical system in the house. If your home is more than a couple of decades old, there is a chance that the electrical system may be outdated. Look at your electrical panel and see what your amperage rating is. Check if it’s at least 100 amps because many older homes will be almost half that. Check any visible wiring as well to make sure it is not made of aluminum, which can be a fire hazard. It can be expensive to get an entirely new electrical system so checking some of these key things can prevent you from having to replace it all.

If you own Denver real estate, you should always make sure to keep up with the maintenance of your home. Deferring maintenance always costs more in the long run. It is worth the time to do some detective work. This is your best chance to minimize the costs for potential damage and catch problems early.

Let the professionals at the Bandy Team help you buy or sell a Denver home. We can help you with a no-obligation consultation. At The Bandy Team, we help Denver homebuyers as well as sellers with all their real estate needs. We will help you work through any issues that may arise in buying or selling a Denver property.

You may also be interested in Tallyns Reach Real Estate in Aurora or homes in Littleton.

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

BandyHomes.com

720-466-3790

Small Town Living in Larkspur Colorado

Larkspur is a nice, friendly town with a government of integrity that is responsive to the people. The town’s vision statement includes future growth, small town values, offering community activities and facilities for every one of all ages, as well as preserving the natural environment unique to the area.

Larkspur is a business friendly town that proactively supports a business-friendly climate. The business community benefits from a professional, skilled and well-educated workforce. The workforce in the county has 56% holding Associates, Bachelor's or Master's Degrees.  Buying a home in Larkspur, or starting a business, is a great option for small town living with an awesome business community. Commercial real estate is also available locally for most any type of business. Modern communication infrastructure is available providing high speed and high bandwidth communications. Easy access via I-25 to the Metro Denver workforce and businesses in Douglas County is also available.

For entertainment, Larkspur is widely known for the Renaissance Festival, which operates from June through August with special themed weekends. They also offer event packages; you could have a Renaissance Wedding with full costumes and spend the whole day at the Festival site. You will step back in time to the medieval era and enjoy the jousting on horseback and live entertainment, or shop in the Artisan Marketplace. It is a very big part of Larkspur’s charm.

Perry Park Ranch is a golf course community in Larkspur located near The Pike National Forest and Rampart Mountain Range neighboring to the West.  The majority of homes are situated on one acre treed sites.  Homes for sale in Perry Park Ranch generally range in price from $300,000 for town homes and $450,000 for single-family homes to over $1,000,000 for large well appointed new homes.

Another fun activity for families or for visiting relatives and friends is Yogi Bear's Jellystone Camp Resort. With camping activities and fun, you can stay in your tent or RV or rent a cabin. There are swimming, fishing, playgrounds, nature trails, archery, disc golf and family activities. They even offer owner-owned lots where you could have a park location for the summer and weekends anytime you want.

At The Bandy Team, we help new Denver homebuyers reach their dream of home ownership. We help our clients work through the many issues that may arise in buying or selling their Denver property.

If you are thinking about buying Larkspur Real Estate, or looking for properties for sale in Canterberry or homes for sale in The Pinery, The Bandy Team is here to serve you.

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

BandyHomes.com

720-466-3790