Today’s first speaker was Chala Mohr with Coldwell Banker in Denver, Colorado. Chala talked to us today about market stats and the current climate for both buying and selling. The market stats for the Denver Metro area:
• The average sales price for single family homes and condos – Feb. 2018 – 466,000 compared to Feb. 2017 – 422,000. SO, prices continue to be on the rise.
• Active inventory is at 3640 compared to last year at 3993 – down 8.8% this year.
• Average days on the market in Feb. 2018 is 32 compared to Feb. 2017 being 37.
What it currently looks like to sell:
• Meet with your agent, and review – the market value and potential appraised value, check on those things that potentially need repair getting your home ready for the highest possible dollar sale. Discuss with your agent what kind of offers and lending your home can accept and what you might expect during a home inspection.
• Paperwork and due diligence with documentation, preparation of the home, professional photos, discussion of what the showing schedule might look like. Also, what a good offer will be and then getting the home listed.
• If your property is listed properly be prepared for many showing (not everyone wants this situation and Chala can help connect you with other buyers if that is your preference), prepare to accept an offer, sign and go under contract.
• Work through any inspection or appraisal objections (if priced correctly you shouldn’t run into issues, keep in mind the perceived market value the buyers have of your home may be higher that appraised value due to lack of inventory), finally loan conditions and closing.
• If you are purchasing another home during this time both your purchase and sale’s timeline will need to coincide with each other. It is important to have a skilled agent to help you through the process as once you have agreed to sell your home to someone and have gone under contract you cannot go back on the agreement.
What it currently looks like to buy:
• Meet with your agent, get pre-approved if you need funding, get familiar with the market, start putting together in your mind what kind of house you would like and communicate that with you agent. Then decide on your top budget and then lessen it by 20%. Chala can put together an auto email so that any new MLS listing is sent directly to you.
• Be ready to shop and act fast, most homes are listed on Wednesday, Thursday and Friday, with the thought that it allows potential buyers to see the home over the weekend and the seller to receive multiple offers, be the first in to see the home. If it matches what you imagined your home to be, be ready to put an offer in. Lender letters are a must with offers. Be ready to go through this process a few times, with the market currently patience is the name of the game.
• Once you have a home under contract – the earnest money is deposited, and any discrepancies are negotiated through with due diligence documents, titles, inspection, appraisal, insurance and/or loan objections.
Successfully completing these items means that you are close to moving into your new home! Yay!
If you are looking for a realtor that knows the ins and outs of the current hot market here in Denver – give Chala Mohr a call!
Chala Mohr * Coldwell Banker * 720.341.9001 * chalamohrcoloradohomescom www.realestatewithchala.com
Our second speaker today was Debbie Hansen owner of La Dolce Vita Coffee Shop in Arvada, Colorado. After all of Debbie’s talks about coffee – she realized that although it is hard to believe – but not everyone drinks coffee! Debbie carries a wide variety of teas as well at La Dolce Vita for you to try. Debbie gets her loose-leaf tea from a local manufacturer in Black Hawk, by going to the source Debbie can guarantee the quality of the tea she is serving. Debbie’s personal favorite tea is the Mighty Lefit is a loose-leaf tea that comes in a hand stitched cloth tea bag that expands as it steeps. This creates bolder flavor and a better flavored tea.
Some quick facts on tea:
• It takes around 2,000 leaves to make one pound of tea
• In the United States tea plants are grown on an island off of the coast of South Carolina and in Hawaii
• The first tea bags were invented in 1908
• Tea first arrive in the New World in Canada in 1716
• Loose leaf tea is good for two years and tea bags are only good for six months
• In the late 1800’s – green tea was one of the most popular teas
• During World War II green tea sources became unavailable, so America started importing teas from India which produces black tea. After the war black tea remained one of the most popular teas in America.
Debbie then told us about some quick ways to perk up our favorite tea – such as by steaming your Cambric tea with milk and serving it with honey or a splash of vanilla will really perk it up. As well, if you are a person that enjoys things with a little bit spice try adding a sprinkle of Cayenne Pepper to your tea. If you are looking for a local coffee shop that offers up yummy food, creative coffee and the perfect cup of tea – stop by La Dolce Vita Coffee Shop in Olde Towne Arvada!
Debbie Hansen * La Dolce Vita * 303-456-8919 * 5756 Olde Wadsworth, Arvada, CO 80002