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Contact us
303-726-1874
www.PetrelliHomes.com
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In This Month's Real Estate News Email:
November Denver Housing Stats
Analysis:
We wrote about "buyer fatigue" last month, and the data for this month tells a similar tale. After several years of prices rocketing up by 10%+ a year, Buyers have become worn down and burned out. The constant bidding wars and price increases have been met with a sudden slowing in the market which began in September and which we are fully realizing now.
Sellers are continuing to adapt to this change, and we are seeing more flexibility in certain segments. In many cases, sellers are more willing to work with down payment assistance programs that require Seller concessions.
For buyers who have waited out the crazy market for the past several months, this continues to be a great time to re-evaluate the market and
the availability in your target neighborhoods. While home prices in the metro Denver area are still forecasted to rise 5-6% annually, the
fierce competition is predicted to see a continued softening.
Give us a call to talk about your options and the many new Down Payment Assistance Programs available.
If you'd like to discuss your situation in detail, please don't hesitate to call Brian directly at 303-817-0209.
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Change vs |
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November 2018 |
Year Ago |
Year Ago +/- |
| Single Family (Res + Cond) |
| Active |
10,111 |
7,612 |
+32.8% |
| Under Contract |
5,400 |
5,729 |
-5.7% |
| Sold |
4,985 |
5,715 |
-12.8% |
| Avg DOM |
35 |
34 |
+2.9% |
| Median Sold Price |
$387,950 |
$422,340 |
+5.7% |
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"Based on information from REColorado®, Inc. for the period November 2017 through November 2018
Note:
This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by REColorado®, Inc. November not reflect all real estate activity in the market.
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What Is Your Home Worth? (It's probably more than you think.)
Even with a slightly cooler market, the average home increased in value by 8.3% in the Denver area this year. In many neighborhoods, the increase was even greater.
Our tool sends you an Instant link to all of the sold homes in your neighborhood and allows our agents to create a custom market analysis for you to show you just how much your home is worth.
Fill Out Our Quick Form And Instantly See For Yourself:
Rent To Own Versus Mortgage Down Payment Assistance
We receive calls every day asking about both our Rent To Own program, as well as the available mortgage down payment assistance programs. Each program has its advantages, and we have done our best to highlight the differences below.
As always, please feel free to contact our team with any additional questions at 303-726-1874.
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Rent To Own
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Down Payment Assistance
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| Minimum Credit Score |
550 |
620 |
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| Down Payment / Deposit |
Amount equal to 2 months rent.
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As Low As
$1,000 |
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| Monthly Payment |
Depends on the home.
Increases every 12 months. |
Depends on the price of the home
Does not change.
Calculate payments here. |
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| Available Only To First Time Buyers |
No |
No |
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| Bankruptcy Limitations |
Must be discharged. No time limit. |
Must be at least 2 years old. |
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| Foreclosure Limitations |
No |
Must be at least 3 years in the past. |
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| Co-Signer Allowed |
No |
Yes |
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| Does Any Portion Of The Monthly Payment Go Towards The Principal? |
No |
Yes |
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| Where To Apply |
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