Back to the subject of Inventory

It has been a while since I have posted here. It has been a crazy market with a lot to talk about, Let’s get started.

Inventory of Homes. Wow! All that I can say is Wow.

Littleton as of today, 190 homes on the market. City of Denver, 1191 and in all of Highlands Ranch, 86. That means I could quite literally show you all of the homes for sale in Highlands Ranch, all price ranges and styles, in less than four days! ALL OF THEM!

We are set up for one crazy spring. If you are thinking of selling, make sure you talk to your realtor about what is facing you in the way of new lending guidelines. You will need to expect longer contract periods and maybe even missed closing deadlines and extended move out dates. Stay tuned and we will discuss this new world we live in.

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What is my home worth?

Hey Colorado! Home prices are higher than ever right now! Find out the TRUE value of your home INSTANTLY for FREE. Just go here: http://instantbizsites.com/JeffHansen/free-evaluation-2/

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Search For Homes In Metro Denver Areas

Get a list of the nicest yet most affordable homes in Metro Denver right now for 100% FREE. Just go here: http://instantbizsites.com/JeffHansen/free-list/

Home in Highlands Ranch (303)794-4530's photo.
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Inventories are creeping up

We have been experiencing low, low, low and I mean low inventories in Metro Denver. I have been tracking 3 major cities and have been surprised at how low the amount of homes for sale have been. The cities I’ve been watching daily are Denver, Littleton and Highlands Ranch. April 1st of this year, there were only 999 homes for sale in all of the city of Denver! Littleton had only 229. But the most shocking was Highlands Ranch at 95 homes for sale! I could have shown all of the homes in Highlands Ranch in a single weekend. Alright a long weekend, but still…

This obviously lead to the crazy market we have been experiencing lately. i.e. bidding wars and skyrocketing home prices. But, this month we are seeing tad higher inventories. Now the city of Denver has 1337 homes for sale. Up 34%. Littleton has 318 today; up 39%. And now it would take me a full week to show all of the homes for sale in Highlands Ranch at 163 homes; up a whopping 72%! This should slow things down a bit and give buyers a chance to get in the game and take advantage of low interest rates and homeownership!

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Why Hire A Realtor

I ran across this recently and I believe it is very relevant and actually brilliant! So I am taking it and using it here. If anyone knows who wrote it originally, let me know I would love to give them credit. But these are my exact sentiments and put really well. Read on:
Yes you can list FSBO; For Sale By Owner.

If I were you I would hire an agent that already has a solid marketing plan in place so that your property get the most exposure possible so that you get top dollar for your home. Many time seller’s try to save money on commission b selling it their selves and end up leaving a lot of money on the table because the buyer pool their home was exposed to was much smaller than if they had used an experienced agent. An experience agent should be able to:

– Run a free Comparative Market Analysis (CMA) for your property and neighborhood. From there we can discuss what I believe your home will appraise for as well as an accurate list price for your home in today’s market. The market is constantly changing and pricing your home correctly is very important.

– Hire a Professional Photographer to come out and take high quality pictures of your property so that your property is represented in the best light possible for all of your property’s advertisements that I will place for you.

– Add a Lock Box to the property.

– Pay to Post a Sign on your property.

– Create Professional Flyers for your listing and disburse them in your neighborhood as well as in the flyer box on the sign post.

– Hold Open Houses that work with your schedule. I often times have lenders that will sponsor the Open House and provide answers to potential buyers in regard to their financing. The lenders often will provide a Snow Cone Truck to help capture the attention of people in the area. We also provide drinks, snacks, balloons, and more!

– Use online presence to assure your listing is placed in front of buyers from around the world. We have “VIP” status, “Premier Agent” status, 1,000’s of contributions on the Top Real Estate related websites and Las Vegas related websites. You can search for us on Zillow, etc and see our posts, reviews, and more.

– Use syndicating websites to send your listing to thousands of websites across the web.

– Pay for an email marketing plan that will send your listing to thousands of investors, agents, and other professionals in our network.

– And of course place your listing on the MLS exposing your home to thousands of Real Estate Agents in your market.

– Take out paid ads for your property and place them in “Feature” position above your competition on major real estate websites.

If you are prepared and capable of doing all of that on your own then more power to you, but if not I would start interviewing agents and see who is a good fit for your property in your market.

Let me know if I can be that pro for you! Want more? Visit http://www.coloradohomesalesonline.com

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Real Estate Quickie

Buying a house and want an edge in the bidding war? Offer to rent the home back to the seller until they are settled into their new home.

Food for thought in this Real Estate Quickie!

Want more? Visit http://www.coloradohomesalesonline.com

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Advice to Home Buyers and Sellers

Advice to Buyers

Market frenzy is here again. More new listings will be coming onto the market and Buyers will be competing for the home of their dreams with creative offers and creative outreach to the Sellers. While lifestyle choice remains number one‚ economic reality is quickly moving up to replace lifestyle choice in the home buying process because of the double digit increase in rent prices in the Denver area‚ pent up Buyer demand‚ and the low inventory of homes for sale.

What is a Buyer to do? Manage your expectations‚ be prepared to participate now as time is of the essence‚ and remain positive about the home buying process.

Know what you want in a home‚ where you want to live‚ and what price range you can afford. Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home. Be prepared‚ manage your expectations‚ and be open to looking at the entire Denver market. Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.

CALL Jeff Hansen YOUR RE/MAX PROFESSIONAL TODAY!

Advice to Sellers

While the current inventory of homes available for sale remains low‚ more homes will be coming onto the market. Buyers will include First Time Home Buyers‚ Generational Buyers (both young and older)‚ Boomerang Buyers‚ and Investors. With low inventory‚ increasing household formations‚ and pent up buyer demand& Sellers should expect many showings‚ multiple offers‚ even offers without the prospective Buyer even seeing the home and creative Buyer outreach either by video‚ letter‚ or person to person.

Quick thoughts on how a Seller can leave a lasting impression with a Buyer on his/her home for sale: inspired staging, bold paint jobs‚ de-clutter each room‚ make each room feel less personal‚ new front door‚ make the home feel fresh and clean‚ and creative landscaping.

If your home is on the market or will be soon‚ how do you satisfy a buyer’s need resulting in the successful sale of your home? Let’s not forget that buyers have done their homework‚ know exactly what they want in their new home‚ and will only compete for the homes of their dreams. As such‚ the homeowner looking to sell one’s home needs a professional who is a local expert‚ is hyper local market (neighborhood) knowledgeable‚ and can assist in the Professional plan to sell one’s home. Now is the time to reach out to a Professional.
CALL Jeff Hansen YOUR RE/MAX PROFESSIONAL TODAY!

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Did You Know?

Did you know that there are less than 3500 homes for sale in all of Metro Denver?

What does that mean to you?

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How in the world can I buy a home in this market?

Home Buyer: How in the world can I buy a home in this market?
Jeff Hansen, Realtor in Colorado: Here’s how.

It is a crazy market out there! Crazier than I have ever seen in my over 22 years in the real estate business. You have heard the stories I’m sure. No inventory of homes for sale and tons of buyers. That means bidding wars- and they seem to get crazier by the week! If you are trying to buy a home right now, you have, undoubtedly, run into this scenario; You find your dream home.  You go to make an offer, only to find that home is the dream of a dozen more buyers. You put your offer in and before you know it, you were beat out by a boat load of other offers. You feel beaten and bruised and as thou you never even had a shot at that home. What now?

With the right information and action, this market can be fun! Without it, it can be terrifying.

Here’s what you must know. There are Realtors out there that have experience in handling multi-offer scenarios and then there are the ones that are intimidated by them and don’t know what to do if they are in competition with other buyers agents. You MUST align yourself with a broker that is skilled in taking the top position in bidding wars. How do you do that? Ask.

Too many buyers use the Realtor that is close to them. And by that I mean the one that is either a friend or a relative or someone they have used in the past. That is all well and good until you find that this agent may not have the proper experience to get the job done in a tough environment. They don’t have the skills to make it in a crazy sellers market. Maybe they do, if so use them. If not, find another one. Buying a home and making your biggest investment of your life is too important to let nepotism take the lead. Ask your broker these questions to determine if they are going to get you to the closing table.

1. What is your strategy if we are involved in a bidding war?
The answer should not be to present an offer and wait and see. I will tell you now that this will fail.
The answer should be that they are being proactive to the scenario by presenting a “dynamic offer”, one that changes on the fly to stay viable throughout the bidding war. How is this done? By adding a clause that keeps changing based on other active offers. This is called an Escalation Clause. Quite simply, you stay ahead of every other offer as the flow in. It is written in such a way that adjusts the offer price up to stay ahead of the other prices. If your broker does not know how to use an Escalation Clause, Find one that does.

2. What are your plans of locating a home for me?
In today’s housing environment, at least here in the Metro Denver area, almost all homes priced under $400,000 are experiencing bidding wars. The sold prices are actually exceeding the list prices! In some cases by 10-15%! All of the homes that I have listed this year have sold for over asking as the bidding wars heated up. That means your Realtor should have a plan for what price range to search in for you. If your lender says you can afford up to $300,000, your agent better not be showing you homes priced at $295,000 to $300,000. More like $275,000 to $285,000, tops. Be prepared to spend more than asking and have to come up with the difference in cash. Talk to your or an agent about why this is soooo important. If they don’t know why this is incredibly critical, find another agent!

3. How long have you been selling in this area? Do other brokers know you, respect you? How can I be sure?
The last two listings I sold went to a bidding war and the numbers and dates ended up very close at the end. Which offer did the sellers choose? The one with the reputable broker involved. Experience matters people! I cannot express that enough. There have been cases in my career where the offer price was a bit lower on one contract but the broker had clout, so the sellers chose that deal. You have to think ahead and be certain your broker can get you to the closing table.

This should get you going in the right direction. Stop being terrified of this market and go have fun! Need more help? Contact me and I will be there. If your broker isn’t passing muster, others can… I can.
Happy house hunting.

Here we discuss multi-offer scenarios on the selling side.

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How can I get the most for my home in this market?

Home Seller: How can I get the most for my home in this market?

Jeff Hansen, Realtor in Colorado: Here’s how.

It is a crazy market out there! Crazier than I have ever seen in my over 22 years in the real estate business. You have heard the stories I’m sure. No inventory of homes for sale and tons of buyers. That means bidding wars- and they seem to get crazier by the week! If you are trying to sell a home right now, you have picked one of the best times ever!

Now, more than ever you need an experienced Broker to sell your home. Bidding wars are great and can benefit the seller wonderfully, if handled right.

Here’s what you must know. There are Realtors out there that have experience in handling multi-offer scenarios and then there are the ones that are intimidated by them and don’t know what to do if they must juggle 3, 5 and in many cases over 10 offers by buyers! You MUST align yourself with a broker that is skilled in taking on the challenging job to sort out the contract that benefits you, the seller, the most. How do you do that? Ask your broker this:

  1. What is your strategy if we are involved in a bidding war?

The answer should not be to take the first offer that comes in the door. The answer should be that they are being proactive to the scenario by setting I (delet thisI) a timeframe to allow for showings over a two to three day period and then provide a time for which each interested party can present their bid. This provides a fair playing field for those that may not be able to jump the second the sign goes in the yard. I have great buyers and usually the really good ones have jobs. This means they might not be able to leave that job at the beckoned call of a real estate sign. They have to wait until after work or even a weekend. So my advice is to give enough time to get those good buyers in the door.

  1. Ask your broker how do they determine the best offer.

The answer should not be the one with the highest dollar amount. I know that sounds weird, but the best offers sometimes aren’t the best price. What good is a high offer that has difficult financing attached to it, or even a contingency for the buyer to sell their existing home? A cash offer waiving the inspection and appraisal for thousands less could be the one that gets you to the closing table. Ask your agent their strategy to maximize your ability to close. This should involve the broker taking the extra steps in researching each offer by calling lenders, waiving inspections and/or appraisals, following up on the buyers’ ability to show proof of funds to close, etc. and then taking all of that knowledge and discussing with you what is the best fit for your situation. Make sure your broker understands that it is ultimately your choice which offer is best and not the broker’s.

  1. Ask your broker, How long have they been selling in your area? Do other brokers know you, respect you? How can I be sure?

I know that if brokers have a tremendously strong buyer and they are deciding between a couple of homes to make an offer on, these brokers will look at the listing broker to see if this is one that can be trusted to handle any scenario sent their way. Homes listed with reputable brokers make it to the closing table. Experience matters people! I cannot express that enough. You have to think ahead and be certain that your broker can get you to your goal.

This should get you going in the right direction. In this market it is very easy to have some fun! But don’t let inexperience take the fun out of it. Need more help? Contact me and I will be there. If your broker isn’t passing muster, others can… I can.

Happy house selling.

Here we discuss multi-offer scenarios on the buying side.

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