02/21/2013
"THIS COULD BE ONE OF THE BEST TIMES TO SELL YOUR HOME IN RECENT HISTORY!"
There are several factors that give this quote validity. We have done research as well as talked with three other professionals who provided their input as to why now could be one of the best times to sell your home.
The Denver real estate market is at historic lows in available inventory. As of 2/12/13 the number of actively listed detached residential homes in the Metrolist database was 5723 units. Compare that to over 20,000 units at the inventory peak several years ago. That coupled with a substantial buyer pool across all demographics aching to find a home results in what I and many other real estate experts consider the best time to list your home since the
mortgage crisis.
"This literally gives supply and demand it's meaning" says Derek Eichenwald of Triumph Capital Management. Additionally Derek attributes the turn around in real estate to the growth in the stock market. " the DOW Industrial Average hit a twelve year low of 6547.05 on March 9, 2009. It closed just this week at over 14000. Real estate appreciation generally follows sustained growth in the stock market". Consulting a qualified financial advisor like Derek when considering buying or selling a home is an important step in the process.
"What does this mean for you? Let us help you determine the benefit. We offer an adjusted market analysis of your home free of charge. Even if you are not looking to sell, this information is essential if you are contemplating a renovation, remodeling or refinancing of your current loan. It can also help for retirement planning or tax strategies."
Buyers are facing an irritation when searching for a home. When you finally do find something, it already has multiple offers that you are competing against or is under contract. Chad Drachenberg at Guaranteed Rate Mortgage in Denver has several highly qualified buyers in this predicament. "With rates at historic lows, it's a great time to leverage your money and improve buying power. The good homes that meet my buyers needs get under contract so fast they have little or no time to react".
Chad is right. I have employed a strategy that allows my buyers to see homes within an hour of hitting the market specifically for this reason. These days getting pre-approved with a reputable mortgage professional like Chad is just the beginning of the process when looking to buy a home.
"What is an irritation for buyers is exactly what sellers want. Low supply and high demand may mean listing your home now can maximize your potential on the market."
Owning a home still represents significant tax strategies. This coming from Brian Chase at JDS Professional Group, "Your home can be a great investment from a tax perspective. You receive tax deductions for both the mortgage interest and real estate taxes paid while you own your home, and when you sell you can exclude up to $500,000 of capital gains from the sale" (restrictions apply). Brian is an expert in tax strategy in real estate, retirement and financial planning. Any real estate transaction should include a consultation with a competent tax strategist like Brian Chase.
