Author Archives: Kristal Kraft Denver Realtor

About Kristal Kraft Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!

What Price Range is Selling in Metro Denver?

% Residential Properties – Price Range – November 2015

Sold Homes by Price - Denver 11-2015

November sales statistics for Metro Denver real estate indicate how low the inventory is in Metro Denver.  We aren’t selling as many homes in the lower price ranges, because there aren’t enough to sell!

Note how the $300,000 – $499,999 price range is on fire! There are a greater number of homes for sale in the higher price range, so more are selling.

If you are a homeowner looking to sell your home, this is really good news!  The simple rules of “supply and demand” put you in the driver’s seat!

If you are looking to sell your home now or in the future, call me. Let’s talk about your home’s value and how you can get the most out of your equity. I welcome your call.

My Most Memorable Listing

1010 S. Elizabeth St. Denver Co It is a sad story, the owner who was an elderly man went to visit his daughter in Texas for the Thanksgiving holiday. He got sick and had to go to the hospital, He passed away. This daughter was so distraught she couldn’t deal with the property. So it just stood there.

Years later the daughter became ill and she too passed away, without a will. The house stood vacant still.

The local newspaper did an article about vacant homes in Denver. The article attracted an unscrupulous person who forged a handwritten will, claiming rights to the property. She even fooled a judge into giving her a PR letter. It was through this person I became involved. She called me to sell it.

I won’t go into the details because I prefer not to educate another crook. Bottom line we soon discovered the discrepancy in her story. I immediately ended my agency with her.

That was nearly two years ago. Since then I have connected with the rightful heir who has been working diligently to clear the title of the property so he can sell the estate.

The home is located on a million dollar plus street in a very desirable Denver neighborhood, Bonnie Brae.

No one has lived in the home for 26 years! The interior was left the way it was when the Dad left for Texas, all except for the 3 foot high stack of mail (mostly junk) that continued to be delivered through the mail slot.

After 26+ years we believe that most of the home’s systems are beyond their useful life. The home most likely will be scraped from the lot and another bigger, beautiful home will replace it. That’s what happens in this neighborhood.

I hope the neighbors will be happy, soon this lot will be developed into something that is worthy of the area. A chapter will end and a new one will begin.

Price: $475,000
MLS #2746542
Showings begin and end Sunday, March 29, 2015
Offers accepted up until March 31, 2015. Response on April 1, 2015 (no exceptions)
Home is sold “as is.”
Call your broker or call me for more information. smile emoticon

Moral of the story….Don’t die without a Will.

UPDATE:  We sold the house for $100,000 over asking price!  It was an exciting day with multiple offers thanks to the extensive marketing and promotion on the property.  I wish I had 15 more just like it, I could sell them all and no one would be disappointed!

Net Worth: A Homeowner’s is 36x Greater Than A Renter!

Net-Worth

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth.

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.

Some of the findings revealed in their report:

  • The average American family has a net worth of $81,200
  • Of that net worth, 61.4% ($49,856) of it is in home equity
  • A homeowner’s net worth is over 36 times greater than that of a renter
  • The average homeowner has a net worth of $194,500 while the average net worth of a renter is $5,400

Bottom Line

There are many reasons why owning a home makes sense, the Fed study shows that owning is still a great way for families to build wealth in America.

source: Keeping Current Matters

 

Real Estate Mortgages – Before and Future

A snapshot infographic of mortgages

 

We’ve been enjoying low finance rates for quite some time now.  Predictions for this time next year are for higher rates.  This means less affordability for buyers and possibly less appreciation for homeowners.  Are you on the fence about buying/selling?  Now may be the best time to make that move.