Just Listed: 2021 Renovated Gem in a Serene Cul-de-Sac!

Welcome to Centennial!

Located on a quiet cul-de-sac, this gorgeous home was recently updated from top to bottom in 2021, with all of the major systems covered.** Shopping and restaurants are a stone's throw from your front door while a tranquil lush greenbelt with paths are accessible from your walk out basement. This home is an entertainer’s dream with multiple areas to gather. On the main floor, a sun-drenched Chef's Kitchen with a breakfast bar, Bosch stainless steel appliances (a gas range!), a built-in pantry and quartz countertops open to the family room. Enjoy your morning coffee on the deck overlooking the serene greenbelt. The back gate opens up to trails for outdoor entertainment. The grand dining room features a beautiful rock fireplace for those snowy days. Retreat to the primary bedroom that has everything you will ever need for comfort and functionality, including built-in bookshelves, a walk -in closet with custom storage, and an en suite bathroom. Two large bedrooms, a large linen closet and a full bathroom round off the main floor. In the walkout basement, enjoy indoor/outdoor living with your exposed brick wet bar that opens up to the covered patio. Two large entertaining areas, two bedrooms, and a full bathroom provide ample space for everyone’s comfort. A large laundry room with a washer and dryer and built in drying racks make doing laundry less cumbersome. Custom blinds adorn the windows through out the home. Outside, you have beautiful native plants that are eco friendly and require minimal water. A short distance to Arapahoe High School and The Streets of Southglenn. This turn key home has everything you need with an incredible location.

Listed by Stacey Bennington for West + Main Homes. Please contact Stacey for current pricing + availability.

 

Have questions?
West + Main Homes
(303) 935-8787
hello@westandmain.com

Presented by:
Stacey Bennington
303-881-6491
stacey@westandmainhomes.com

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Mortgage refinance demand jumps to a 2-year high, as interest rates drop

Mortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing. Homebuyers, however, seemed unimpressed.

Applications to refinance a home loan jumped 15% last week, compared with the previous week, to the highest level since August 2022, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was 37% higher than the same week one year ago when mortgage rates were exactly the same.

While the increase last week was large, it is coming off a very small base. Refinance demand is still more than 70% lower than it was in early 2020, before the Covid-19 pandemic hit.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.87% from 7.00%, with points dropping to 0.57 from 0.60 (including the origination fee) for loans with a 20% down payment.

“Mortgage rates declined last week, as recent signs of cooling inflation and the increased likelihood of Fed rate cuts later this year pulled them lower,” said Joel Kan, MBA’s vice president and deputy chief economist, in a release.

Applications for a mortgage to purchase a home fell 3% for the week and were 14% lower than the same week one year ago. Buyers today are facing a lean and pricey market, and now, with the expectation that rates could drop even more, they may be waiting on the sidelines for a better opportunity. More supply is slowly coming onto the market and sellers are starting to reduce prices, especially for homes that have been sitting on the market for a while.

Mortgage rates have not changed much to start this week, despite a stronger-than-expected report on retail sales.

Read more at CNBC.com

Related Links

• Unlocking Homebuyer Opportunities in 2024

• Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall—and Relief for Homebuyers

• “Chaos Gardening” Is the Low-Stakes, Low-Effort Hack You Need to Try This Weekend

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Unlocking Homebuyer Opportunities in 2024

There’s no arguing this past year has been difficult for homebuyers.

And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

• They couldn’t find anything in their price range

• They didn’t have any successful offers or had difficulty competing

• They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back in.

1. The Supply of Homes for Sale Is Growing

One of the most significant shifts in the market this year is how the months’ supply of homes for sale has increased. If you look at data from the National Association of Realtors (NAR), you’ll see how inventory has grown throughout 2024 (see graph below): 

This graph shows the months’ supply of existing homes – homes that were previously lived in by another homeowner. The upward trend this year is clear.

This increase means you have a better chance of finding a home that suits your needs and preferences. And if the biggest reason you put off your home search was difficulty finding the right home, this is a big relief.

2. There’s More New Home Construction

And if you still don’t see an existing home you like, another big opportunity lies in the rise of new home construction. Builders have worked to increase the supply of newly built homes this year. And they’ve turned their attention to crafting smaller, more affordable homes based on what’s most needed in today’s market. This helps address the long-standing issue of housing undersupply throughout the country, and those smaller homes also offset some of the affordability challenges you’re feeling today.

According to data from the Census and NAR, one in three homes on the market is a newly built home (see graph below):

This means, that if you didn’t previously look at newly built homes as part of your search, you may have been cutting your pool of options by a third. Not to mention, some builders are also offering incentives like buying down mortgage rates to make it easier for buyers to get a home that fits their budget.

So, consider talking to your agent about what builders have to offer in your area. Your agent’s expertise on builder reputations, contracts, and more will help you weigh your options.

3. Less Buyer Competition

Mortgage rates are still hovering around 7%, so buyer demand isn’t as fierce as it once was. And when you combine that with more housing supply, you have a better chance of avoiding an intense bidding war. Danielle Hale, Chief Economist at Realtor.com, highlights the positive trend for the latter half of 2024, saying:

“Home shoppers who persist could see better conditions in the second half of the year, which tends to be somewhat less competitive seasonally, and might be even more so since inventory is likely to reach five-year highs.”

This creates a unique opportunity for you to find a home you want to buy with less stress and at a potentially better price.

4. Home Prices Are Moderating

Speaking of prices, home prices are also showing signs of moderation – and that’s a welcome shift after the rapid appreciation seen in recent years (see graph below): 

This moderation is mostly due to supply and demand. Supply is growing and demand is easing, so prices aren’t rising as fast. But make no mistake, that doesn’t mean prices are falling – they’re just rising at a more normal pace. You can see this in the graph. The bars are still showing prices increasing, just not as dramatic as it was before.

The average forecast for home price appreciation in 2024 is for positive growth around 3% to 5%, which is more in line with historical norms. That moderation means that you are less likely to face the steep price increases we saw a few years ago.

The Opportunity in Front of You

If you’re ready and able to buy, you may find that the second half of 2024 is a bit easier to navigate. There are still challenges, but some of the biggest hurdles you’ve faced are getting better as time wears on.

On the other hand, you could choose to wait. But if you do, here’s the risk you run. As more buyers recognize the shift in the market, competition will grow again. On a similar note, if mortgage rates do come down (as forecasts say), more buyers will flood back into the market. So, making a move now helps you take advantage of the current market conditions and get ahead of those other buyers.

Bottom Line

If you’ve put your dream of homeownership on hold, the second half of 2024 may be your chance to jump back in. Connect with a real estate agent to talk more about the opportunities you have in today’s market.

Read more at KeepingCurrentMatters.com

Related Links

• It suddenly looks like there are too many homes for sale. Here’s why that’s not quite right

• Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall—and Relief for Homebuyers

• “Chaos Gardening” Is the Low-Stakes, Low-Effort Hack You Need to Try This Weekend

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search Homes in Minnesota

Just Listed: Fully Renovated Condo in Denver's Speer Neighborhood!

You are going to love living in one of the most walkable and desirable neighborhoods in Denver!

This super cute condo has been fully renovated with refinished light hardwood floors, bright interior paint and new lighting. The big brick accent wall + cozy wood-burning fireplace add so much character to the open living space. The recently updated kitchen is a dream with new stainless steel appliances, quartz countertops + gorgeous sage cabinets. The bedroom has a well-sized closet, and two additional hall closets maximize interior storage options. The bathroom has new tile, a slatted wood vanity + new lighting and hardware.


Enjoy birds chirping + greenery in the open air courtyard, which offers great outdoor living space. The gated building offers security, and never have to worry about parking with an included deeding parking spot.

Walk out your front door and get to the best of Denver living within minutes: local coffee shops, some of the best restaurants in town, Cherry Creek Bike Path, South Broadway or Wash Park!

Listed by Kate Kazell for West + Main Homes. Please contact Kate for current pricing + availability.

 

Have questions?
West + Main Homes
(303) 935-8787
hello@westandmain.com

Presented by:
Kate Kazell
720-613-8478
katekazell@westandmainhomes.com

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Just Listed: Ranch Home with Modern Upgrades and Prime Location!

Welcome home to arguably the most well kept listing in Oak Meadows.

This 3 Bed, 2 Bath ranch style home is here to impress! The open floor plan allows for easy entertaining. The kitchen has ample storage space and leads into the dining room which leads out into the back yard. Your private oasis. The yard is perfect for fetch with fido or a BBQ with friends. The landscaping has been well kept and pride of ownership shines throughout the entire house. The inside of the home is loved as much as the outside. The primary bedroom is tucked away in the back of the home with its own private full bath. There's a non-conforming 3rd bedroom which can easily be made into an office or additional bedroom. There's an attached 2 car garage that you can get to through the laundry room. The entire exterior of the home and shed was repainted Sept 2023, Water Heater was replaced in 2022, New roof was installed Nov 2023, and you have a BRAND NEW A/C to tackle these hot summer days! Easy access to I-25. Come fall in love with your future home. Settler's Park is just around the corner with tennis courts, covered picnic tables and playgrounds.

Listed by Maggie + Kendra for West + Main Homes. Please contact Maggie for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Maggie Fast + Kendra Buck
Maggie: 720-819-6677
Kendra: 303-828-8232
maggie@westandmainhomes.com
kendrab@westandmainhomes.com

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