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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This Month In Real Estate May 2015

ThismonthinREmay2015Welcome to the Month of June, it is hard to believe that next week will be the 4th of July. Here is Denver we are trying to stay dry, with all the rain and dodging hail storms. The Real Estate market is also keeping us jumping, with a low number of homes for sale compared to the rest of the country. Here are a few highlights.

  • We saw a slight increase of active homes in May to 5,157
  • Inventory is up by 13.7% over April
  • Under Contracts up 4.4% from a month ago
  • Sold properties up 10.3% last month
  • Homes priced $200,000 – $399,999 are moving the fastest with 75% of homes on the market going under contract in 7 days or less
  • Homes priced between $400,000 – $599,999, 52% go under contract in 7 days or less
  • Homes between $600,000 – $799,999, 38% go under contract in 7 days or less
  • Homes $800,000 – $999,999, 36% go under contract in 7 days or less.
  • 1M – 3M, 19% go under contract within 7 days or less.
  • Average Sold price is up to $419,465 for detached single family homes.
  • Average Sold price for Attached homes is up to $261,886.

These number reflect the 7 Metro Counties which include: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson Counties.

Have questions? Wondering what you home could sell for in today’s market, contact us TODAY!

Until next time!

Ruth Ann Cullis

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How long do I have to wait to puchase a home after a Bankruptcy?

IMG_0842I get many questions from buyers wanting to purchase a home after they have had a bankruptcy, Short Sale, Deed-in-lieu of or Foreclosure, regarding how long they need to wait to qualify for a new mortgage.

The answer depends on what type of program you are using to finance a new property. Of course there could be some extenuating circumstances that could change the time frame, that is why it is a good idea to talk with the mortgage loan officer to get all the facts.

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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 -  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  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



Have You Closed on Your Home to Get the Tax Credit?

So if you were one of the many people to have decided to purchase a home to get the $8000 first time home buyer tax credit or to use the $6500 current home purchaser, just a reminder that you will need to close on that purchase by Wednesday, June 30th, 2010. There were a lot of “rumors” floating around that the time to close on those purchases was going to be extended until Sept. 30th. It was included in the Senate bill along with a bill to pay for jobless benefits. Needless to say it did not pass. So the rumor is that many people will walk from their contract because they will not be able to utilize the tax credit. Seriously, do we really believe that people who have homes under contract will decide walk from their contracts? Or the only reason they decided to purchase a home was because of the tax credit? My experience has been,  no. People purchase homes because they have had a change in their life, a growing family, an empty nester , job transfer, marriage, divorce, etc. Never have I had anyone say “Ruth Ann, I want to buy a house because there is a tax credit.” Now maybe the tax credit did push those who were on the fence over to the other side. But, in general people will buy houses when they need to.  Oh by they way, if you are going to walk from your contract please check with your agent regarding any consequences with regards to your earnest money.

Until next time!

Ruth Cullis

Loft in Ballpark Neighborhood

Ballpark Neighborhood

Thinking of wanting to spend time in downtown Denver. This loft unit is located in the historic Lumber Loft Warehouse. This beautiful loft with exposed brick, gleaming hardwood floors, 14′ ceilings and wood beam is just an 13 minute walk from Coors Field, 12 minutes to Larimer Square and walking distance to all that Downtown Denver has to offer.  The kitchen has Cherry Cabinets, granite counter tops and stainless appliances. There is a master bedroom with a five-piece master bath and master bedroom located on the main floor and another room perfect to use as a home office. Tons of natural light shines through the great room area. The basement includes a full bath, a great area for a recreation room or simply add a wall and you have an additional bedroom. The building includes a workout room and party room available for entertaining. To see this wonderful LoDo loft or to get additional information or the ask about any other lofts or condos in the downtown area contact me by email at or call me at 303-944-2626.

Until next time

Ruth Cullis

What's Going On In the Market

The $8,000 and $6,500 tax credit deadlines a looming quickly upon us. There are 48 days until the deadline. Remember you must be under contract on a property no later than April 30, 2010 and the property must close by June 30, 2010.

So I’m often asked what is the market like right now, is it a buyers market or a seller’s market. The answer to that question is “it depends on which side of the coin are you on.” We are experiencing what is called a split market. Let me explain, if you are in the market for a home under the price of $400,000 then you are in a seller’s market, low inventory lots of buyers out there. We are also seeing multiple/competing offers on properties.

If you are in the price range of 400,001 and above it is definitely a buyer’s market. Lots of inventory not as many buyers.

So if you are looking in a seller’s market make sure you have your ducks in a row. Have  your financing in place, know what you qualify for, the more you are prepared the better you will look to a seller when you submit your offer.

Here are some statistics comparing February 2009 to February 2010

Residential Properties

Feb. 2009                                                      Feb. 2010

Active/Available: 15,228                           Active/Available: 14058

Under contract: 3,352                               Under Contract/Pending: 3848

Sold: 2,009                                                 Sold: 1, 913

Average Days on Market: 107                 Average Days On Market: 92

Average Sold Price: $236,920                Average Sold Price: $269,608

Hope this post will help you when deciding to purchase or sell a home. Don’t forget the April 30th deadline for the tax credit.

Ruth Cullis

First Time Home Buyer Tax Credit

Welcome to October. It seems like summer just started. A lot of people are wondering about the first time home buyer tax credit, is it too late to get started? No, if you are already pre-qualified and are already looking ready to look you need to be under contract on a home by October 15th. This way you will have plenty of time to do your inspection, appraisal, ect. and close on your home before November 30. The rules are that you have to be closed on the home by the 1st of December. So you can enjoy the holidays in your new home.

There is lots of talk about it being the tax credit being extended… but nothing has come down from the powers that be. So if your wanting to purchase a home and want to get the tax credit, get out there, if you have questions don’t hesitate to call me.

Until next time!