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Market Conditions

Will House Prices Fall as Mortgage Rates Rise?

WIth Mortgage rates on the rise and showing little signs of stopping, the first question on everyone's minds is, how will this affect home prices? Click the link below to see what Mark Fleming (First American’s Chief Economist), Terry Loebs (Founder of Pulsenomics) and Laurie Goodman (Codirector of the Housing Finance Policy Center at the Urban Institute) have to say about the relationship between the two!

Will Home Prices Fall as Mortgage Rates Rise?

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State of the Market: March 2015

The Denver Metro Association of Realtors, in their latest Market Trends, reported an increase in the average price of a Single Family Homes and Condo homes from $296,591 to $348,127 in the Denver Metro Area. They also reported that while there were 6,103 active listings this time last year, there are currently only 4,079. Yikes!

This price increase reflects the continuing shortage of inventory competing with a huge demand as seen in January. While Sellers may become more willing to place their homes on the market, prices may not drop and as relatively low interest rates convince Buyers to enter and stay in the market.

CEO of REcolorado, Kirby Slunaker, explained, “…our historically-low inventory levels remain the biggest challenge facing the Denver-area housing market, as they are undoubtedly contributing to rising average home prices and reducing the amount of time homes are on the market.”

This representation is based in whole or in part on content supplied by REcolorado®, Inc. REcolorado®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by REcolorado®, Inc. may not reflect all real estate activity in the market.

DMAR Market Trends | March 2015

© 2015 COPYRIGHT | All rights reserved to Denver Metro Association of REALTORS ®

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State of the Market

When there are more buyers than sellers in the market, a high demand for homes is created and the state of the current market is referred to as low-inventory.

What does this mean for sellers? Luckily for Sellers, they will have more prospective Buyers willing to pay top dollar and usually a quicker sale.

Unfortunately for Buyers, the search will be tougher and bidding more competitive. What can Buyers do to prevent getting discouraged? Learn about the intended market. Buyers should talk to their realtor: learn enough about recent sales to be able to recognize when prices for new listings are underpriced, at market value, or over-priced, be able to predict which listings will be more competitive. When buyers do make a competing offer and end up empty-handed, it is important not to hastily grab the next listing because Buyers may get Buyer Remorse. Keep in mind a home is usually a Buyer’s largest financial investment, and a place to make memories for generally many years.

On January 20th this year, REColorado released its annual report on the Denver Housing Market for 2014. Specifically reporting about the state of the market they published the following.


Based on information from REcolorado®, Inc. for the period January 20, 2015.

“Following an active summer selling season, inventory levels dropped throughout the fourth quarter of 2014. Weeks of inventory began the year at an 11 week supply, hovered around eight weeks throughout the summer selling season, and ended the year at a record low six-week supply. Homes spent an average of 35 days on the market, 13 days less than the 2013 average, with homes in the $150,000 to $300,000 price range selling the quickest.

The year ended...

Denver Real Estate Market Trends for 2014

The current real estate market is showing signs that we are off to a great 2014! Properties sold in January spent 61 days on the market, which is a 22% decrease from last year. (Metrolist)

“We are optimistic about the 2014 real estate landscape,” said Kirby Slunaker, CEO and President of Metrolist, Inc. “We’d advise any consumers who are planning on entering the market for a new home later this year to start looking early.”

Metrolist Graph for Single Family Housing in Denver

According to Metrolist, the quantity of home transactions rose 26.3% and the median home sold price was up 10%.  Home sellers can now list with more confidence and buyers can feel safer that their home won’t lose value right after purchase.

Looking to make a move? Call me and I’ll guide you through every step in the process!

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Falling Mortgage Rates

Excellent news for potential home buyers --- now's the time to buy! Rates have fallen for the second consecutive week.

Freddie Mac reports that the 30 year, fixed-rate mortgage rate dropped to 4.10% from last week's 4.13%. The current rate is still higher than last year's 3.39% but showing signs of improvement for the time being. According to the Denver Post, average US rates are at their lowest levels in four months.

Contact me today 303-360-6400 to take advantage of lower mortgage rates!

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Autumn in the Denver Housing Market

The Denver Housing Market is showing significant improvement. In a year-over-year comparison, 20% more homes closed this fall over last year.  Average sold prices for 2013 also show an 8% increase.

 Kirby Slunaker, CEO and President of Metrolist states that “all of our data points to a healthy market, which leads us to believe we are experiencing a true housing market recovery.”

 The demand this fall is strong and a great sign for the real estate market. In 2012 the average days on market was 64. In contrast, from August to September of this year it was only 39 days.

Take advantage of the strong market and low interest rates! Call Kimberly at 303-360-6400 to find out more!

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How will the government shutdown affect your real estate transaction?

The government shutdown will affect everyone, but one large question on the minds of buyers and sellers is: how will it affect our real estate transaction? The shutdown will impact some closings depending how far along they are in the process.

What will be affected:

Tax Transcripts: The IRS will not be processing 4506 & 4506T Tax Transcripts. For verification of income these are required by most loan types and if you are self employed they are always required.

FHA Home Loans: Only about 2% of the HUD’s Office of Housing employees will be working. However, HUD has informed banks that daily operations will continue.

USDA Home Loans: If you do not already have a conditional commitment, then you will not be able to receive a rural housing home loan until the shutdown is resolved.

Social Security Verification: The Social Security Administration will not be verifying any Social Security numbers. Even providing your card is not always the only verification required.

What will NOT be affected:

VA Home Loans: Lenders will continue to process and guaranty mortgages

Conventional and CHFA Home Loans: These should not be delayed unless your loan requires tax transcripts or social security verification

Denver Metro Mortgage Assistance: The 4% grant program for down payment and closing costs will have no delays

Is there an upside?

If mortgage rates keep falling due to the lessened demand over shutdown concerns, it could be a good time to lock in a lower...