Feb. 15, 2018

Free Resource Guide for Selling Your Home

Selling Your Denver Home

Questions to consider when selling your home

This year in the Metro Denver market we have had a strong appreciation, where home prices are returning to their former levels.  Many homeowners who were "underwater" with their mortgages are now finding they have equity.  This is good news because it opens up the opportunity for homeowners to sell.

Is now a good time to sell?

In a word, yes!  Due to the high demand for homes to purchase, sellers are enjoying a "seller's market".  A seller's market is defined by the "days on market".  When the days on market is 25 weeks or less (6.25 months), it is a seller's market.  We go even further to define the seller's market as "Extreme Seller's Market" when the available inventory is from 0-12 weeks.

How do we calculate the number of weeks inventory?

This is a simple math calculation.  The number of homes for sale (during the month) is divided by the number of homes sold (during the month)=weeks of inventory.

This is not a perfect calculation as these numbers fluctuates as home come on the market. But still, it gives us good guidance as to know if values are increasing or decreasing.  This is important for a home owner to know when they are preparing to sell.

How do I determine the price?

As a Realtor, I can evaluate these numbers when preparing a pricing strategy for the home.  Looking at comparable sold properties that happened in the past is one portion of pricing equation.  One needs to evaluate the future home price based on demand.  The value could be significantly more if there is a great demand for the home.

At the same time one needs to be very cautious about getting to aggressive and over-pricing the home.  Over-pricing can be detrimental in the long run, causing the home to become "shop-worn" from being on the market too long.  Buyers are weary of homes that don't sell quickly. They are concerned that there is "something" wrong with the property they might not be able to see.

How long will it take to sell my home?

Good question and one that I can only answer based on past history.  I look at the "days on market" other homes in that price range and neighborhood have sold for and usually can give you a good estimate.

Right now in Metro Denver the days on market varies by price range.  Of course it only makes sense that more houses sell in the "average" and below price range than above.  If your home is in the average or below price range it stands to reason the timing for sale will be very similar.

There are extenuating factors that could change the days on market

  • Condition
  • Location
  • Accepting a contract with buyers who aren't qualified, committed, reasonable

Condition of your home has a bearing on who will buy it.  If your home is in need of updating or major repairs, not everyone in the market is up to do that.  The home will need to be priced right so buyers who want to do repairs can afford to purchase AND do the repairs.  There are many companies that will offer to "buy your ugly house" but beware they are in the business to make a profit and the offer they give you will be a "wholesale price".  I can guarantee I can find a buyer for more than they will pay you, including what you need after you pay me!  

Location is really a tough one. You've probably hear the real estate mantra, location, location, location.  Well if you are in a good location, you did well.  If you purchased in a poor location or the location has gotten poor since you bought, you will just need to deal with it.  That means compensating for it in price or providing irresistible terms to a buyer.  There are many strategies to get you out of a bad location, it all depends on the situation.

Don't despair just remember "one man's house is another man's castle."

Contract fallout is a huge issue right now with our fast paced Metro Denver real estate market.  Buyers are literally purchasing homes and then getting buyer's remorse and walking away from the contract.  I think it's because the competition demands that they act before they have fully digested the big decision they are making.  People really need to have choices. When that is taken away from them they become uncertain.

How do we prevent this?  Working with the seller, I dig as deep as I can into the buyer's qualifications.  Just because they wrote an offer doesn't necessarily mean they can and will perform.  By researching their qualifications and asking more questions I hopefully can ferret out the unserious buyers.  It means a lot to my sellers when they have the piece of mind the transaction will go as planned.

Free Guide: Things to Consider When Selling Your House.

Keeping Current Matters offers a wonderful resource guide for Home Owners with questions about selling their homes.  You can click on the link below that will take you to my Evernote account where you can download/view the book at your leisure.  If you have questions about the local market, please feel free to send me an email or call.  I welcome your contact!


Image-SellerGuideSummer2014 Download your free guide here


Click here for English Version 

Click here for Spanish Version 


Posted in Selling Your Home
Feb. 14, 2018

Low Downpayment Financing is Available

low down payment assistance

Affordable Financing is Now Available to Qualified Buyers!

When buying a home you find yourself with many challenges.  Affordability is probably the most challenging, right up there with making the timing of the move work and being able to find what you actually want to live in!  Well if you are in the market to purchase a home, you will be relieved to know you can now do it with as little as 1% down.  Yes ONE PERCENT!  This is no typo!

There's the old standby, traditional downpayment assistance

You maybe familiar with what we in the real estate industry refer to asl"Down Payment Assistance Programs" these programs are available through the Local governments who joined forces to provide bond financing such as Metro Mortgage Assistance Plus.  The Colorado Housing and Finance Authority known as CHAFA also offers low down funds.  Typically these programs have a requirement that the buyer live in the home for a certain length of time before they can sell and keep their equity without sharing it with the lender or they are limited to first time buyers.  Each program has different requirements that might be restrictive.

The Latest Low Down Loan Features Are Great!

Today I discovered yet another plan that is far better than anything I've seen  yet!  This plan allows a borrower to purchase with only 1% down!  The mortgage company provides the other 2% down on behalf of the borrower!

This program is open to buyers with a minimum credit score (FICO) of 680 and a maximum income of 100% of the area median income.  This varies from county to county but it's around $83,000/annually.

The borrower DOES NOT NEED TO BE A FIRST TIME HOMEBUYER!  Condos are OK. The "debt to income ratio" can be as hight as 50%.  It is conventional financing so the home isn't scrutinized like an FHA/VA loan.

The underwriting is flexible with credit given to for boarder income and rental income.

Purchasing a Home Comes with Responsibilities...

Like other low downpayment assistance programs the borrower is required to attend a homeownership class.  The class associated with this program can be taken online.  There is a small fee, but for a limited time there are discount coupons available, you just need to ask!

Don't forget in addition to the 1% a buyer is responsible to pay for their closing costs, inspection fees, etc.  

If you are interested in learning more,

I'm happy to talk to you and connect you with the lender.  Only then can we determine if this program is a good fit for you.  Call me, I welcome your call! 303-589-2022



Posted in Buyer Tips
Nov. 11, 2017

Denver Real Estate Market Report October 2017

Oct. 13, 2017

September Real Estate Market Update

September Real Estate Market Update

Oct. 13, 2017

4 Good Reasons to Sell This Fall

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Posted in Selling Your Home
May 5, 2017

The Cost of Waiting to Buy a Home

Posted in Buyer Tips
May 4, 2017

Real Estate Market Update - April 2017

April 21, 2017

Real Estate Report - March 2017

Denver real estate market report for 3-2017

Feb. 27, 2017

10 Things to Consider When Buying A Home

Denver Real Estate Tips

Denver real estate

Most people receive all sorts of advice from friends and family when they decide to purchase a home.  The amount of information available on the web is astounding!  

I've been selling real estate for many years now.  I field questions from buyers and observe common mistakes quite frequently.  Typically I try to educate my clients on the things they should be concerned with, particularly when it comes to buying a property they may regret.  

Here are 10 things to consider when buying a home:

  1. Your Exit Strategy.  You may be in the buying mode right now, but one day you will be in the selling mode.  Make sure what you are buying will sell.  By that I mean if you are in a family neighborhood where all the homes have 4+ bedrooms, don't be a maverick and buy a 2-bedroom house. Well don't do so unless you can live with the idea it will take longer to sell or don't fool yourself!
  2. How long do you plan to stay? Recently I sold a home where the owners made over a 50% profit in less than 2 years.  This is an exception to the rule, certainly not the norm.  The real estate market goes up and down.  Generally if you have a secure job and plan to stay in the house 3 years or longer you should be fine.  If your job is iffy and you're in a field that might require a relocation, I'd advise to buy with caution.  You can buy, but be prepared that leaving might cost you.
  3. Buy with your head and not your heart. Buying a home in an emotional process.  Sometimes buyers "fall in love" with a home that is priced well above their means.  Yes, there maybe a way to get the sale done, but will you be happy if you have to forego furnishing the home and eating beans for a decade or two?  
  4. Review the neighborhood demographics.  Once when my kids were little we bought a home in a neighborhood where there were NO kids. None. Nada.  Lucky for us after a few months the empty nesters started selling their homes and the neighborhood started turning over.  So if you want playmates for your tykes, cruise the neighborhood for clues; swing sets, basketball hoops and bikes are good signs.  Conversely if you are a young single looking for a neighborhood of the same, you can cruise with a different intend.  Or ask me for the demographics of the area. I have access to all that!
  5. Look beyond the staging.  When a homeowner moves out, so does all that pretty furniture and art work.  You get plain vanilla. Visualize the home without the decor. Does the house still work for you?
  6. Consider ALL the costs.  The house  payment consists of Principle, Interest, Taxes and Insurance.  You will also have utilities and maybe HOA fees.  Additionally you need to plan to budget for those other expenses, exterior maintenance like paint, roof, windows, landscaping, fencing which might need repair or replacing.  It happens to every house.  If you don't keep it up it will deteriorate and your home value will go down. Homes where these things have just been replaced should be recognized for the value they bring to the table.  Today we see so many Fix 'n Flip where all they have done is  put a pretty dress on the house and ignore the expensive (to replace) components that aren't as romantic.  It is called putting "lipstick on a pig."
  7. Cost of Exterior Maintenance. Some homes are easier to maintain than others.  For example, a brick home will only need to have the trim painted where a frame home will need painting/stain all over.  The difference in that can mean thousands of dollars.  So yes, you will pay a little more for a brick home but over time you will gain that back plus some.  In Colorado we see many 40-year tile roofs which are a better value than a regular asphalt roof.  Once again there's value that's not exciting, until you consider the savings.
  8. Cost of a new home vs resale.  Many people turn their noses up at resale homes because they prefer a new home. That's fine, just remember few new homes are completely finished.  Oh I so learned that once when I had to dig deeper into my checkbook to pay for window coverings, sprinklers/landscaping and fencing!  After that I looked at resales with a new appreciation!  
  9. View, view, view!  Colorado is known for its views, some are permanent and some are temporary.  Just because a home has a view today doesn't mean it will be there tomorrow.  No the mountains aren't sinking but subdivisions are growing and open space unless it's "dedicated open space" may have a bunch of big old house blocking that million dollar view next year!
  10. Open your mind! If you are looking for a deal don't pass over those homes with crappy pictures. Because the photos are crappy means the agent is a crappy photographer and the home may (or may not) be awesome.  I can't tell you how many deals I've found for my clients where the agent didn't take the time to post good images of the house.  It's a disservice we LOVE to find!

Please note, this simple list is not complete!  A real estate purchase brings with it many individual needs.  If you want to discuss your goals and how to properly align them, call/text/email me!  I look forward to hearing from you.

Posted in Buyer Tips
Feb. 15, 2017

4864 E Kentucky Ave. #C Denver SOLD

4864 E Kentucky Ave #C, Denver, CO

Get Directions Click Here

Description Photos Maps & Local Schools Walk Score
$ Click for current price


1 BATHROOMS (1 full)

614 Square Feet


Desirable Penthouse unit with vaulted ceilings, south-facing complex greenbelt offers peaceful view and lots of sunlight. Second bedroom is used as study, washer/dryer in unit, updated bathroom and kitchen w/pantry, lives LARGE!  Pet friendly complex with its own dog park!  Conveniently close to Cherry Creek Bike Trail, Infinity Park Complex, restaurants and shopping. 


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Kristal Kraft

The Berkshire Group



303-350-5838 Office
Posted in Homes for sale