Should I Buy or Sell During The Holidays?

IMG_0067“For the seller, they’re giving up their home where they have all of these attachments. For the buyer, it’s about painting a picture of their new lives and then carrying them through the whole process to a positive result.” – Sally Foster Jones, SFJ Group.

The song “Let it snow” has the words, “Oh the weather outside is frightful. And the fire is so delightful,” but buying or selling a home during the holidays can be a good idea.

Here are a few things to think, whether you’re a seller or a buyer, during this holiday season.

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What’s Happening In The Denver Real Estate Market

Here are some quick highlight of what is going on in the Denver Real Estate Market for the month of July.www.Culliscoloradohomes.com -  Grant Circle

  • In July 2013 50.6% of closed transactions went for at or over their asking price compared to 55.5% in June of the same year.
  • In July 2013 38.7of closed transactions went under contract in 7 days or less compared to 42.7% in June 2013

Here are some interesting market activity: These figures represent Single Family Homes

  • July 2011 there were 14,014 Active Homes on the market
  • July 2012 there were 9,087 Active on the market Homes
  • July 2013 there were 8,286 Active homes on the market
  • July 2011 Under Contract Homes were 3,386
  • July 2012 Under Contract Homes were 4,181
  • July 2013 Under Contract Homes were 5,752
  • Sold Homes in 2011 3,082
  • Sold Homes in 2012 3,713
  • Sold Homes in 2013 4,857

Which means that inventory is down -8.81% from July 2012

  • The average days on market is 37 days and this is in all price ranges, with the shortest days on market in 24 days in the price range of $200,000-$399,000 with the largest days on market of 135 days in the price range of 1M-3M. This is for residential properties in the Metro Denver area.

So what does all these number mean. If you are a seller it is a good time to sell, especially if you have been putting off selling the last few year. Do remember that pricing your property right the first time your property will go under contract faster and possibly for a higher price, netting you more money. Of course, you will take into consideration condition, location, what has sold in the neighborhood, etc.

Curious about what your property would sell for in today’s market? Visit CullisColoradohomes.com  and visit the Market Insider tab to see what is happening in your neighborhood. Ready to make a move contract me, Ruth Cullis

Until next time!

Ruth A. Cullis

 

*Based on information from Metrolist, Inc. for the period shown above. This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Get Paid to Sell the Home You Can’t Afford!

CDPESolidLogoWhen the housing market crashed in 2008, millions of homeowners suddenly found themselves in danger of losing their homes to foreclosure. To help these homeowners, in 2009 the U.S. Treasury launched the Making Home Affordable (MHA) program, which is comprised of several subprograms designed to help distressed homeowners avoid foreclosure.

One of the most talked about elements of the MHA program is the Home Affordable Foreclosure Alternatives program, or HAFA. The HAFA program creates options for homeowners who owe more on their mortgage than the property is worth and don’t know what to do. Even better, it allows relocation assistance of $3,000 to be paid to eligible homeowners in this situation.

HAFA also helps the process go more quickly by mandating that banks keep in contact and make decisions in a timely fashion. To learn more, you can download my free report entitled “Struggling to Make Your Mortgage? Uncle Sam May Pay You to Sell Your House!” by filling out the form below.

As a real estate professional with the Certified Distressed Property Expert (CDPE) designation, I offer all of my clients the benefit of the best expertise and insights when it comes to foreclosure avoidance.

Ruth Ann Cullis

303-944-2626

RuthCullis@kw.com

 

11 Reasons Why You Should List Your Home During The Holidays

11. During the holidays your competition is lower, most sellers take their home off the Holiday Cookiermarket for the holidays. You are less likely to receive an offer from a buyer with a contingency, unlike the spring when there are more house on the market for less money. This is good for you since this will allow you to sell high and buy low!

10. You will be able to sell for more money and negotiate a delayed closing or extended occupancy until early next year.

9. Even with your house on the market, you will have the option to restrict the showings of your house during the six or seven days around the holiday.

8. Employees with new jobs usually begin in January and usually transferees cannot wait until spring to purchase  a new house, so being on the market during the holidays will capture that new transferee buyer.

7. Tax reasons, some people must purchase before the end of the year for tax purposes.

6. Buyer’s have more free time to look at homes during the holiday rather than looking at homes during the work week.

5. Buyers tend to be more emotional during the holidays, so they may be more likely to pay your price.

4. Houses that are decorated for the holidays show better.

3. Most sellers sell in January so your competition is higher, decreased demand means less money for you.

2. Fewer houses mean that serious buyers have less to choose from. Less competition equals more money in your pocket.

What’s the number one reason why you should listing your home during the holiday…

1. Serious buyers look for homes during the holidays!

Need additional information about what is going on in your neighborhood or have any questions regarding the real estate process contact me and let chat.

Until next time!

Ruth A. Cullis

Do You Owe More on Your Home…

and you don’t know what to do.

You do have options. There are many people who are experiencing either a job loss, cut back in hours or pay with a job, loss of a loved one, divorce or relocation whatever the situation that has caused you to follow behind on your mortgage. The media give you different stories or situations that may have worked for one party but not another. I have had some clients say that they have been told to let the home go into foreclosure, don’t short sale, do a loan modification, don’t do a loan modification, etc. I’m finding that one solution that may work for one person may or may not work for another. So it is very important that you find out what your options work best for your situation.

I have found two different web sites that may help you decide what can work for you there is a lot of helpful information and checklists. Know Your Options and for those in Colorado The Colorado Foreclosure Hotline or call 1-877-601-Hope (1-877-601-4673)

Also don’t forget to talk with your tax accountant and or attorney to find out what tax and/or legal ramifications.

Until next time!

Ruth Cullis

Taste of Colorado

If you’re going to be staying in town this Labor Day weekend and want something to do, I would suggest A Taste of Colorado in Civic Center Park – Downtown Denver. It runs from today, Friday Sept. 4 thru Monday, Sept 7th.

There is something for everyone to enjoy, music, food and beverages, arts & crafts and there are even things for the kids. I’m excited about the food not sure about the chocolate covered bacon from Famous Dave’s. Love chocolate and a fan of bacon, together, not sure, but am willing to try it. So if there is anythings you want to try but haven’t take a trip down to Civic Center Park. To get a list of bands that will be playing or food to try go to A Taste of Colorado for map and any other information you may need.

Enjoy and have a safe weekend.