Denver Colorado Real Estate News & Market Trends

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Jan. 1, 2021

Real Estate Forecast For 2021 Colorado Home Front

Dec. 17, 2020

Thinking of Buying or Selling a Home This Winter?

Dec. 17, 2020

5 Steps to Take if You Need Forbearance Relief

Dec. 6, 2020

9 tips for selling your property in Denver Colorado at the best price


9 tips for selling your property at the best price


Just like buying, selling a home requires good preparation. To make sure you have everything on your side, think about every detail:

·       The Real Estate Agent;

·       The Home inspection;

·       The Price estimation;

·       The property Renovations;

·       and more …

Discover our 9 tips for selling your property fast and at the best price.


1.   Have your home inspected

Do you know your home as well as you think you do? An inspection might change your mind. Homeowners don't always have an objective look at the house they've lived in for years. Yet the problems it hides often force them to lower their prices.

The home inspector can identify minor and major repairs that need to be done. He can detect potential flaws and more serious problems, such as cracks in the foundation, water infiltration, or mold in the basement. In this way, you will establish a fair and equitable price in accordance with the actual condition of your property.

On the other hand, a buyer who has been informed that the house has been professionally inspected will be more confident. So don't hesitate to provide him with the inspection report to further convince him and encourage him to make an offer to purchase.



2.   Estimate the price of your property

An estimate that does not correspond to the local property market price may delay a house's sale. In the case of a real estate transaction, it is not so much the price at which you bought your house or flat that is important but how much it is worth today.

Take the time to study the real estate prices in your area, and do not hesitate to consider the improvements and expansions you may have made. You can use calculators and worksheets before you set your price. A real estate broker would be able to help you determine the price of the property for sale, in addition to advising you on how to quickly find a buyer.



3.   Renovate to better sell your home

If your home is relatively old, then a renovation may be necessary to put all the odds in your favor. Start by refreshing the walls and using light colors to maximize the space in your rooms.

If your goal is to create a "wow" effect to mark the buyers who visit your property, then opt for a kitchen and/or bathroom renovation. These are the two most important rooms in a house, and they may well tip the balance in your favor.


4.   Take care of your decoration, atmosphere, garden, exterior and the Visit


To be sold, a property must be clean, and this starts from the outside. Before entering, the buyer will look at the general aspect (paintings, windows, door...). If at first glance everything is clean, it is a good start. If the first impression is negative, it will be difficult to reverse the trend.


For the interior, respect a few basics. Don't forget that each room must have a specific function. This is very important and will allow the customer to project himself in them.

For decoration, favor sobriety and avoid colors that are too flashy. It will be more difficult for a person to project themselves in an orange, red or black house than in a house where the decor is white, grey, and assorted. A few tips can help you do this. The intervention of a home staging specialist can be effective in revealing the potential of any room. If you feel it is necessary, do not hesitate to contact one. The more sober, airy, tidy, organized, and clean your home is, the more likely you are to sell it.


Also, take care of your garden as much as possible. Mow your lawn, cut down dead branches, put away your tools... it's the least you can do. Admit that it is not very exciting to discover a garden with high grasses and car parts. I'm exaggerating a bit, but I think you get the idea.


Orchestrate the Visit properly

Once your selling price has been set, your ad is written, it's time for visits. This stage is crucial because it is decisive in the choice of the buyer. You need to know how to orchestrate the Visit of a house or a flat in order to show it off to its best advantage:

·   Favor sunny hours so that your house is bright and airy.

·   Your house must be perfectly clean and tidy.


5.   Highlighting your home with beautiful photos

We often underestimate taking pictures of our property at the time of the sale. Take nice pictures of your flat or house. If you look at the advertisements published on the big sales sites, you will be struck by the photos and descriptions' amateurism, even when real estate agents take them.

When a buyer is going to spend $200, $300, or $600,000, he expects to have photos that are clear and descriptive enough. If you don't have a camera, buy one or borrow one, and if you're not a professional photographer, don't hesitate to get help! Take beautiful pictures in good weather after you have tidied and cleaned up the house. Make the buyer want to come!




6.   Let them know that your property is on the market and write a precise advertisement.

It is essential that you communicate about your sales project. Talk about it with your friends and family, but also via social networks and advertising sites. However, be careful not to overdo it! Multiplying the number of ads with different estate agencies is certainly a good idea (optimizing the chances of your ad being seen) but risks overexposing your property (and therefore undermining its credibility). If potential buyers see that your house or flat is being put up for sale at different prices on several agency sites, potential buyers might find it suspicious that you are trying so hard to get rid of it...


Writing the announcement of the sale of the property can make all the difference. For example, highlight the qualities of the house, but don't overdo it. Avoid superlatives and be honest. Describe your property as it really is.

·   Does the living room have a cellar? If so, what is its area?

·   What is the distance between your home and the first shop?

·   Highlight the assets of your property (garden, large rooms, orientation) to enable potential future buyers to plan ahead and make them want to come and visit.


Opt for an efficient estate agency

The real estate agent takes all the heaving load out of your life: visits, administrative procedures, etc...

The choice of your estate agent is surely the most important choice, along with the selling price, to determine your project's success.

Choose a real estate agency with a very strong digital presence! More than 95% of real estate searches start with a smartphone in hand.

Choose a real estate agency at the cutting edge of new technologies, which will be able to showcase your property and make buyers pre-visit it thanks to videos, virtual tours, etc.


7.   Sell your property at the right time.

What? There is a good and a bad time to sell your property? Yes, there is! Let me explain...

Did you know that the majority sales transactions take place from early spring until about November? In the winter, the market slows down, and buyers think more about holidays than buying a property.

After all, nothing prevents you from putting your property up for sale in winter, but if your property does not sell quickly and your ad is on a reputable site for six months, buyers will spot it and wonder if there isn't a problem.

Wait, wait for the right season and the sun to come out and sell!



8.   Negotiating with the buyer

Once a visitor wishes to buy your home, he or she makes an offer to purchase, which must be made in writing, ideally through the estate agent who will coordinate the negotiations. If the buyer makes you an offer for the price, you will have no choice but to accept it, and you can formalize your agreement. But in most cases, buyers make a proposal below the price set by the seller, and this is where the negotiation comes into play.

To approach it calmly, start by assessing the selling price:

·       Have you set a fair and consistent price, based on the estate agent's advice?

·       Have you set a price that is higher than the online estimates given by professionals?

You should also be aware that, on average, the negotiation margin is between 2% and 5%. It is important to know this information in order to make your choice. Finally, be objective and listen to the buyer's arguments:

·   What is the general state of the property?

·   Does it need any work?

·   And, above all, does the offer to purchase come after only a few days,

·    or has the property already been on sale for several months?


9.   Respect your commitments to the buyers.

During discussions with the buyer, you may have made certain commitments in order to reach an agreement on the price. These include, for example, the work to be carried out. These commitments will be formalized in the preliminary sales agreement. This condition specifies that the current owner must carry out work before the future owner signs the final sales document. The nature of the work and its precise designation must be mentioned. If the work is not carried out, the sale may be canceled. Therefore, it is best to keep your commitments to avoid any postponement or cancellation of the sale.

Nov. 11, 2020

Home Price Appreciation

Nov. 11, 2020

VA Home Loans: Helping Heroes Find a Home

VA Home Loans: Helping Heroes Find a Home

VA Home Loans: Important Housing Benefits for Veterans | MyKCM

Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes.

As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being knowledgeable about what’s available and how they work may be a game-changer for many.

Facts about 2019 VA Home Loans (most current data):

  • 624,546 home loans were guaranteed by the Veterans Administration.
  • 306,879 VA home loans were made without a down payment.
  • 2,055 grants totaling $118 million were provided to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs.

VA Home Loans Often Offer:

  • No down payment options as long as the sales price isn’t higher than the home’s appraised value.
  • Better terms and interest rates than loans from other lenders.
  • Fewer closing costs, which may be paid by the seller.

Bottom Line

The best thing you can do today to celebrate Veterans Day is to share this information with those who can potentially benefit from these loan options. Let’s connect today to discuss your questions about VA home loan benefits. Thank you for your service.

Oct. 27, 2020

How Down Payment Assistance Opens the Door to Homeownership

How Down Payment Assistance Opens the Door to Homeownership

How Down Payment Assistance Opens the Door to Homeownership | MyKCM

Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.

On top of that, the same survey reports over two-thirds of prospective homebuyers believe they’ll need assistance to save enough for a down payment. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for potential buyers. Down Payment Resources recently released its Q3 2020 Homeownership Program Index, which explains:

“The number of total programs is 2,340, and over 81 percent (81.1%) of programs currently have funds available for eligible homebuyers.”

Down Payment Assistance Programs Are Not Only for First-Time Homebuyers

Keep in mind, these programs aren’t just for first-time homebuyers, so it’s worth exploring your options no matter where you are in your homeownership journey. For example, if you’re working from home now, you may be thinking of relocating to a more affordable area where you can stretch your dollar further and have more space, inside and out. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains:

“Rural areas have mortgages (USDA loans) that don’t require down payments; and some workers who can work from home may want to consider outer suburbs or small towns where USDA home loans are available and where homes are very affordable.”

If affordability is on your mind and you’re expecting to be working from home long-term, the right home may be in an area you haven’t considered yet. In addition, the assistance program you need might be within reach too.

If you’re interested in learning more about down payment assistance programs, additional information is available through Down Payment Resource. Your real estate advisor can help you decide which option is best for you personally.

Bottom Line

Thanks to a range of down payment assistance programs, affordable options are out there for today’s hopeful homebuyers. It’s important to get the financial education you need to understand the homebuying process and accomplish your real estate goals. Let’s connect today to get you started on the path to your dream home.

Oct. 26, 2020

Why Today’s Options Will Save Homeowners from Foreclosure

Why Today’s Options Will Save Homeowners from Foreclosure

Why Today’s Options Will Save Homeowners from Foreclosure | MyKCM

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end.

Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and that percentage has been dropping steadily. Black Knight recently reported that the national forbearance rate has decreased to 5.6%, with active forbearances falling below 3 million for the first time since mid-April.

Many of those still in forbearance are actually making timely payments. Christopher Maloney of Bloomberg Wealth recently explained:

“Almost one quarter of all homeowners who have demanded forbearance are still current on their mortgages…according to the latest MBA data.”

However, since over two million homeowners are still in forbearance, some experts are concerned that this might lead to another wave of foreclosures like we saw a little over a decade ago during the Great Recession. Here is why this time is different.

There Will Be Very Few Strategic Defaults

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater). Many decided they would just stop making their payments and walk away from the house, which then resulted in the bank foreclosing on the property. These foreclosures were known as strategic defaults. Today, the vast majority of homeowners have significant equity in their homes. This dramatically decreases the possibility of strategic defaults.

Aspen Grove Solutions, a business consulting firm, recently addressed the issue in a study titled Creating Positive Forbearance Outcomes:

“Unlike in 2008, strategic defaults have not emerged as a serious problem and seems unlikely to emerge given stronger expectations for property price increases, a record low inventory of homes, and stable residential underwriting standards leading up to the crisis which has reduced the number of owners who are underwater.”

There Are Other Options That Were Not Available the Last Time

A decade ago, there wasn’t a forbearance option, and most banks did not put in other programs, like modifications and short sales, until very late in the crisis.

Today, homeowners have several options because banks understand the three fundamental differences in today’s real estate market as compared to 2008:

1. Most homeowners have substantial equity in their homes.

2. The real estate market has a shortage of listings for sale. In 2008, homes for sale flooded the market.

3. Prices are appreciating. In 2008, prices were depreciating dramatically.

These differences allow banks to feel comfortable giving options to homeowners when exiting forbearance. Aspen Grove broke down some of these options in the study mentioned above:

  • Refinance Repay: Capitalize forbearance amount – For borrowers who have strong credit, have good or improved equity in their homes, possibly had a higher interest rate on their original loan, have steady employment/no significant wage loss, and income.
  • Repayment Plan: Pay it back in higher monthly payments – For people who cannot reinstate using savings, but have increased monthly income, and do not want to use a deferral program.
  • Deferral ProgramShift payments to the end of the loan term – For borrowers who lost income temporarily and regained most or all of their income but are not in a position to refinance due to credit score, home equity, low total loan value relative to closing costs, or simple apathy.
  • ModificationFlex modification or other mod – For households that permanently lost 20% to 30% of their income, but not all of their income, and want to remain in their home.

Each one of these programs enables the homeowner to remain in the home.

What about Those Who Don’t Qualify for These Programs?

Homeowners who can’t catch up on past payments and don’t qualify for the programs mentioned have two options: sell the house or let it go to foreclosure. Some experts think most will be forced to take the foreclosure route. However, an examination of the data shows that probably won’t be the case.

A decade ago, homeowners had very little equity in their homes. Therefore, selling was not an option unless they were willing to tap into limited savings to cover the cost of selling, like real estate commission, closing costs, and attorney fees. Without any other option, many just decided to stay in the house until they were served a foreclosure notice.

As mentioned above, today is different. Most homeowners now have a large amount of equity in their homes. They will most likely decide to sell their home and take that equity rather than wait for the bank to foreclose.

In a separate reportBlack Knight highlighted this issue:

“In total, an estimated 172K loans are in forbearance, have missed three or more payments under their plans and have less than 10% equity in their homes.”

In other words, of the millions currently in a forbearance plan, there are few that likely will become a foreclosure.

Bottom Line

Some analysts are talking about future foreclosures reaching 500,000 to over 1 million. With the options today’s homeowners have, that doesn’t seem likely.

Oct. 26, 2020

Two Important Impacts of Home Equity

Two Important Impacts of Home Equity from Colorado Home Front

Two Important Impacts of Home Equity | MyKCM

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in equity over the past year. In addition, experts project 2020 home prices to continue rising. With prices going up, equity gains will also keep accelerating. Black Knight just reported:

“The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.”

Jeff Tucker, Senior Economist at Zillow, just qualified recent price increases as “jaw-dropping” and “within a hair's breadth of double-digit year-over-year appreciation.”

Knowing equity will help enable many homeowners to better survive the economic distress caused by the ongoing pandemic, it’s important to break down two key homeowner benefits of increasing equity.

1. Equity Increases a Homeowner’s Options to Buy a New Home

Aside from the financial damage of the last seven months, there has also been a tremendous emotional toll on many people. Shelter-in-place mandates, quarantine requirements, and virtual schooling have all made us re-evaluate the must-have requirements a home should deliver. Having equity in your current house gives you a better opportunity to move-up or build your perfect home from scratch.

Mark Fleming, Chief Economist at First American, recently explained:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity.”

If you need to make a move, the equity in your current home can help make that possible – right now.

2. Equity Enables Homeowners to Help Future Generations

An increase in home equity grows overall wealth, which can transfer to future generations. The Federal Reserve, in an addendum to their recent Survey of Consumer Finances, explains:

“There are numerous ways families can transmit wealth and resources across generations. Families can directly transfer their wealth to the next generation in the form of a bequest. They can also provide the next generation with inter vivos transfers (gifts), for example, providing down payment support to enable a home purchase or a substantial wedding gift.”

The Federal Reserve also explains another way wealth (including the additional net worth generated by an increase in home equity) can benefit future generations:

“In addition to direct transfers or gifts, families can make investments in their children that indirectly increase their wealth. For example, families can invest in their children's educational success by paying for college or private schools, which can in turn increase their children's ability to accumulate wealth.”

Bottom Line

Equity can help a homeowner grow their confidence in a more stable financial future. It provides near-term move-up options and creates a positive impact for future generations. In many cases, the largest single investment a person has is their home. As that investment appreciates in value, financial options increase too.

Oct. 23, 2020

Selling Your House Is the Right Move, Right Now

Selling Your House Is the Right Move, Right Now [INFOGRAPHIC]

Selling Your House Is the Right Move, Right Now [INFOGRAPHIC] | MyKCM

Some Highlights

  • Demand from homebuyers has skyrocketed this year, which means today’s sellers are poised to win big. This ideal moment in time to sell your house won’t last forever, though.
  • With more sellers coming to the market in the spring, waiting until next year means buyers will have more choices, so your home may not stand out from the crowd.
  • Let’s connect today to discuss why now may be the right time to make a move on your terms.