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Spring is in the air and Colorado’s real estate market is feeling lucky! In February we experienced a 20% surge in new listings coming on the market as well as a nearly 18% increase in homes going under contract. These are all great signs that the market is healthy and strong.
Recently a frequent topic of conversation with clients has been how to time buying their next home and avoid having to do a double move. Some people even fear becoming “homeless” during the process. This is a very common concern in a market like ours. With that said – agents strategically need to be one-hundred percent dialed in and completely understand their client’s timeline. Because Seller’s want to take advantage of the home’s equity and Buyer’s don’t want to just settle! The Denver Post ran an article last week on this very topic which you can read in our March eNewsletter. Bottom line is that this can be accomplished! There are several options – make the purchase of your next home contingent on the sale of your current home, or perhaps offer a rent-back or tap in to the equity of your current home with a short term or bridge type loan that you would pay off at closing. There are many options and we would be happy to walk through them in more detail!
We are also seeing a lot of empty nesters active in the market! The kids are gone and it is time to move – sometimes that means less indoor space and more outdoor space, vice versa or a combination of both! Many times buying a home is less about what type of home you are looking for and more about an overall approach that aligns with a life-long retirement strategy. This is where you can put the equity in your current home to work! It is important to talk to a qualified and reputable lender not only about how much home you can afford, but also how your right sizing strategy fits in within your retirement timeline! Read the full article in this month’s eNewsletter.
Speaking of lenders – did you know that over half of all buyers are surprised by how much closing costs are? And we are here to tell you, surprises don’t mix well in real estate transactions. The relationship between your Realtor and your lender is critical because buying a home is a process that should be uniquely tailored to your goals – a process that requires everyone being on the same page. And when it comes to the finance side of things we all need to be on the same page to avoid surprises. If you’ve been thinking about buying a home and are not sure how much money you need to make it all happen – we are here to be a resource for you! Over the years we have developed solid relationship with solid lending professionals. If you have more questions, we can get you in front of the right people. Read more in this month’s eNewsletter!
Hopefully this video and the included enewsletter provide you great value or at least some little nuggets of information that keep you up to speed with today’s strong, strong real estate market. If there is any information or specific data that you would like to see in upcoming newsletters – shoot us an email and let us know. We look forward to being of service.
Scott Futa | The Scott Futa Home Team
Keller Williams Action Realty, LLC
140 S. Wilcox Street
Castle Rock, CO 80104
(303) 225-2707 | Team@ScottFuta.com