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Supply & Demand

by KCM Blog

Two Graphs That Scream List Your House Today

 

Two Graphs That Scream List Your House Today

Posted: 29 Jun 2015 04:00 AM PDT

Two Graphs That Scream You Should List Your House Today! | Keeping Current MattersThe spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different! We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

According to research at the National Association of Realtors (NAR), buyer activity this year has far outpaced the same months in 2014. Purchasers who are ready, willing and able to buy are in the market at great numbers. Foot Traffic | Keeping Current MattersAccording to NAR, “Foot Traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the current supply of housing inventory is at a 5.1 month supply, which remains below the 6-months necessary for a normal market. Inventory of Homes for Sale | Simplifying The Market

Buyer demand is far outpacing the supply of homes available for sale.

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.


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Land Title News-Tuesday Morning Coffee

by Allison Simson

 

Happy Tuesday Morning to YOU

Summer is officially here and it is gorgeous in Summit County!  There is still snow on the mountain peaks, and the flowers are starting to really bloom. It couldn't be prettier up here!

Here is some info from Land Title to help you stay on top of the pulse of the real estate market with weekly compilations of local and national news articles concerning the real estate industry.

Top Stories This Week


Local News

Denver Business Journal
Hidden' home costs in Denver? Eh, not too bad
When it comes to the "hidden costs" of owning a home in Denver, when compared nationally, it's not that bad. Read More


National News

Redfin
Home Sales Hit High Speed as Price Growth Taps Brakes
Homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days in May, down from 32 in April. Last month, 35.6 percent of homes went under contract within two weeks of their debut, just shy of the peak rate of 35.8 percent exactly two years ago.  Read More
 

Denver Real Estate Watch
Lennar brings Next Gen homes to Stapleton
In a different era, an anthem of anti-establishment protestors was the so-called “generation gap.”
Read More


 

CNBC
Fed leaves interest rates unchanged -- for now 
Keeping a tight lid on its future intentions, the Federal Reserve on Wednesday held interest rates steady at zero and provided only faint clues about when the first hike in nine years might occur.  Read More

 

Take a look at this week's featured listing- it could be the perfect getaway for you or someone you know!  

See you on the trails! 

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980 LAKEPOINT DR

Price: $440,000

Beds: 2

Baths: 2

Sq Ft: 1005

Jaw-dropping views of the lake w perfect firework viewing! Updated & upgraded- granite island, new tile, carpet, cabinetry. The quick-dash-to-dinner, close-to-shopping & shuttle location is perfect. Quiet complex & owners who adore it! 8ft garage do...

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How Will Mortgage Rate Hikes Impact Home Sales?

by KCM Blog

 

How Will Mortgage Rate Hikes Impact Home Sales?

 

How Will Mortgage Rate Hikes Impact Home Sales?

Posted: 18 Jun 2015 04:00 AM PDT

How Will Mortgage Rate Hikes Impact Home Sales? | Keeping Current MattersWhen mortgage interest rates begin to climb, experts immediately begin to discuss home affordability indexes. They calculate how an increase in rates will slow home purchases as more and more potential buyers are priced out of the market. Today, with home prices also increasing, many believe that home sales may slow down rather dramatically. This may prove to be true in the long term. However, in the short term, increasing mortgage rates may have the opposite effect. Many buyers who have been sitting on the fence may realize that delaying their purchase no longer makes sense. Last week, in a CNBC article, Matt Weaver of Florida-based PMAC Lending explained the impact an increase in rates will have:

"These increases really help the home-buying market. It really gets buyers to really understand that 'wait a minute, rates are at an all-time low, let's react now, let's react before they go higher’.”

As an example, we can look to 2013 when interest rates spiked up by a full percentage point over a two month period. The result is that many buyers rushed to the market on the fear that rates would continue to climb. It didn’t necessarily increase the number of sales that year dramatically. However, it did seem to move some sales up in the year as evidenced by the chart below: Home Sales & Impact of Mortgage Rate Spike | Keeping Current MattersWe can see that the sales cycle did not follow a more normal cycle (2014) with more sales being pushed into July and August and slightly less sales in September and August.

Bottom Line

If you are waiting to put your house on the market, think twice. Now may be the perfect time to sell as buyer competition will continue to heat up as more purchasers jump into the market. You may also save a pretty penny on the monthly mortgage payment of your next home by selling now before rates shoot up.


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Summer is HEATING Up!

by Allison Simson

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Happy Tuesday to YOU!

After a pretty gloomy May, we are ready for the mountain sunshine!  You've heard it before, but it's TRUE!  People come to Summit County in the winter to visit, and they come back in summer to stay!  Summer here is just, well, heaven!!  

The market overall in Summit is HOT- warm in some segments and sizzling in others. Values are hyper-local- as usual! 

For some of the nitty-gritty details in our different communities, check out the links below.  If you are wondering about values in a particular neighborhood or complex, reply to this email and we can get you the details - STAT!!  

1) Breckenridge
 
 
2) Dillon
 
 
3) Frisco
 
 
4) Keystone
 
 
5) Summit County Update
 
 
6) Wildernest/Silverthorne
 

See you on the trails!

And check out this new listing....the perfect mountain getaway:

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161 North Side CIR

Price: $475,000

Beds: 3

Baths: 2

½ Baths: 1

Sq Ft: 1624

Wait till you see the inside of this one! Tastefully updated & furnished DP w/ new hardwood floors, carpet, freshly painted deck. Take in the Keystone & Divide views while sitting in your private hot tub. Sunny & large master suite, that's very priv...

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Contact Information

Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker