YOUR 4-MINUTE REAL ESTATE ROAD MAP FOR MAY

Updated: Apr 27

April 23, 2022 | SCHWINGSTATE's Greater Denver Metro Market Wrap-up with Hot Tips for Smart Sellers and Savvy Buyers

March proved that despite increased inventory, there is no sign of a market cooldown anytime soon. Average close price in the metro area has risen 9% and is now over $700K. Median close price rose almost 5% and is now over $600K.


Notably, of all the new listings that came to the market in March, only 26% were priced under $500K. Within this price segment, single-family (detached) homes have become extremely scarce and will sell at a rapidly increasing premium into the future.


The truth is that there's good news for both buyers and sellers this month. The slight seasonal shift in increased inventory will positively impact buyers who have felt fatigued in the residential market so far, while current homeowners continue to enjoy unprecedented equity growth. Even so, everyone will continue to wonder where things go from here, which we'll explore next week in a short special feature called "The Bubble??"


Now then, with no further adieu, here's your hot tips 🔥 for May ...

 

SCHWINGSTATE'S BEST 3 TIPS FOR BUYERS RIGHT NOW


Indications couldn't be clearer. Home prices (and yes, rent too) in the metro area will continue to rise along with interest rates giving buyers an even steeper hill to climb later. The good news is that appreciation is expected to slow as more inventory comes to market.


FINANCE FINESSE. Work with a lender to become TBD Underwritten so that you are in a position to offer to close extremely quickly (8-10 days) giving you a big, cash-like advantage over other buyers. If you're budget-limited under $500K, focus on townhomes or condos to get your foot in the door and ride the equity wave UP. Brainstorm with experienced and dedicated pros on ways to make any offer you submit both competitive and creative, bringing your individual and maximum advantages to the table.


FOLLOW YOUR HEAD. While the beginning of the year may have been an emotional market for many, it’s well past time to shift to a logical one. Going over list price? Bid only up to your comfort limit. Require important contingencies in a contract you offer up. Perform inspections on any home before closing. Invest your time and intentions carefully and strategically. Your resources are valuable, protect them! Partner with knowledgeable, highly-committed pros who can (and will) help you make a challenging journey rewarding, and make smart decisions every step along the way.


FORTUNE FAVORS THE BOLD and those who persist. Good news: If you’re still in the market there are serious reasons to be optimistic today. With the recent uptick in inventory it is more common to compete against fewer offers than it was earlier this year. With more listings coming on soon due to seasonality trends coinciding with many of your former competitors giving up and dropping out the chances are real that the golden opportunity you were working so hard for could be a lot closer today than you think.


Call me. I'd love to hear from you. I promise to work hard (and smart) to get you to break through on a home you love, on terms you dig, this year. Let's make it happen.

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