A Real Estate Agent Helps Take the Fear Out of the Market

 
 

Do negative headlines and talk on social media have you feeling worried about the housing market?

Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now.

Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You should lean on a trusted real estate agent to help you separate fact from fiction and get the answers you need.

That agent will use their knowledge of what’s really happening with home prices, housing supply, expert forecasts, and more to give you the best possible advice. The National Association of Realtors (NAR) explains:

“. . . agents combat uncertainty and fear with a combination of historical perspective, training and facts.”

The right agent will help you figure out what’s going on at the national level and in your local area.

They’ll debunk headlines using data you can trust. Plus, they have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line

If you need reliable information about the housing market and expert advice about your own move, get in touch with a real estate agent in your area.

Learn more at Keepingcurrentmatters.com

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The Hottest Housing Season Isn’t Behind Us: These Are the 7 Best Cities To Buy a Home this Fall

 
 

Timing is everything—and that is particularly true when it comes to buying a home.

The dream? Drop into the market when prices, mortgage rates, and competition from other buyers is low—and then snag a large, move-in ready home in a desirable area for a sweet deal.

The reality? Today’s real estate market is highly competitive and highly expensive—and many homebuyers are having to settle, or drop out of the market entirely.

So when is the best time to buy a home? Well, for certain markets, right now actually. There are places where buyers have the upper hand—or, at the very least, the out-of-control bidding wars have calmed down and buyers have a bit more time to make up their minds. The economics team at Realtor.com® found the markets where the optimal time to purchase a home is still ahead.

Fortunately, our data specialists have been grappling with this question for years by tracking buyer-friendly market conditions for every week of the year. They looked at median home list prices; the number of homes for sale; the number of new “fresh” listings; how long a home is on the market before it sells; homebuyer demand based on the number of listing views received on Realtor.com; and the number of price reductions.

The Realtor.com team looked at the best individual weeks to buy a home in the 50 largest metropolitan areas. (Metros include the main city and surrounding towns, suburbs, and smaller urban areas.)

“This year’s market has slowed considerably compared to years past, a welcomed shift for buyers,” Realtor.com senior economic analyst Hannah Jones wrote in the latest “Best Time to Buy” report.

“In many markets, homes are spending more time on the market than in the last few years, meaning buyers may find sellers more flexible than during the red-hot pandemic market,” she wrote. “Still-high mortgage rates mean that the typical buyer would still pay more as a monthly payment for a median-priced home compared to last year, but the relentless climb in prices has finally come to a halt.”

By examining data from 2018, 2019, 2021, and 2022 (excluding 2020 due to COVID-19 anomalies) and comparing it with 2023, the team pinpointed the first week of October as the optimal time to buy this year. Buyers who braved the market could expect a wider selection of homes for sale, fewer competing offers, and savings of over $15,000 compared with the summer peak for a median-priced home of $445,000.

However, real estate is local. In some parts of the country, the best time to buy is in the rearview; in others, it is still coming up.

In a handful of markets, the most favorable conditions for buyers actually occur later in the year, defying conventional wisdom that the housing market slows down as the weather cools.

Now, let’s take a closer look at the seven major metropolitan areas where late fall and winter offer the best conditions for homebuyers.

 
 

1. Louisville, KY

Best week to buy: Nov. 5–11
Median list price: $316,358

In the heart of the Bluegrass State, Louisville offers a unique blend of Southern charm and urban sophistication. And if you’re looking to score a real estate deal, mark your calendar for the first week of November.

Louisville tops our list with the biggest rate of price reductions during this optimal week, when compared with an average week for the area. Sellers here are highly motivated to close deals during this time of the year.

Couple that with 20% more active listings than the average week in Louisville, and you’ve got a buyer’s buffet.

And if you’re worried about competition, don’t be. Views per property are down a staggering 33% compared with peak times, making this the opportune moment to snag your dream home in the land of bourbon and horse racing.

The vast majority of homes for sale in the city proper are single-family homes, but buyers can still find condos and townhomes. This four-bedroom, two-bathroom Cape Cod with a sunroom is on the market for $259,000.

2. Phoenix, AZ

Best week to buy: Nov. 5–11
Median list price: $532,000

The Phoenix metro, affectionately referred to as the Valley of the Sun, includes a smattering of cities from Scottsdale to Glendale and Anthem to Chandler. This time of the year draws snowbirds from the chilly north, but it’s also the prime time season for real estate.

Around this time of year, buyers drawn by the warm winter weather start heading to Phoenix.

“What happens in the first week of November in Arizona?” asks Kristy Ryan, a Realtor® at Re/Max Fine Properties in Scottsdale. “It’s heaven. It’s like 82 degrees. We’re getting ready to head into the best eight months of the year where it’s 80 degrees every day, sunny and beautiful.”

The first week of November is a unique window of opportunity here, with 28% more new listings than an average week—the highest on our list.

This four-bedroom, three-bathroom brick house is on the market for just under $585,5000. Buyers who don’t need as much space can check out this three-bedroom, two-bathroom new construction for just under $400,000.

3. Charlotte, NC

Best week to buy: Nov. 5–11
Median list price: $425,000

Charlotte, the Queen City, has become a crown jewel of the South, with booming tech and financial industries. It’s also home to the NASCAR Hall of Fame and the headquarters of Fortune 500 companies like Bank of America and Lowe’s. The metro also includes nearby Concord and Gastonia.

Charlotte offers a royal opportunity for buyers in the first full week of November.

Active listings are up by 18% compared with the average week, and price reductions hover around 1.2%.

The city’s diverse neighborhoods, from the historic Fourth Ward, where buyers can snag condos in gleaming towers or lower-rise brick complexes, to the artsy NoDa, where there are smaller cottages and Cape Cods for sale along with brand-new townhomes, offer a range of options for every kind of buyer.

4. Birmingham, AL

Best week to buy: Nov. 5–11
Median list price: $299,000

Birmingham, a city that became synonymous with the Civil Rights Movement in the 1960s, is now becoming known for its burgeoning food scene and rich music and arts culture.

For buyers shopping in the Birmingham metro in early November, homes typically stay on the market for an average of more than three weeks longer than the area’s peak homebuying season. So it’s a good thing the winters here are so mild this time of year, with a weather-comfort index rated at 8 out of 10 in the month of November.

With just 1.1 million residents, Birmingham is the smallest metro on our list (closely followed by Buffalo, NY).

Buyers can find newly constructed three-bedroom, two-bathroom homes for about $270,000 or a remodeled three-bedroom, two-bathroom ranch for about $240,000.

5. Buffalo, NY

Best week to buy: Nov. 12–18
Median list price: $259,900

Buffalo offers more than just great wings and Bills football games.

“As a buyer, the best week is in November,” says Matthew Roland, assistant dean at the University of Buffalo’s Department of Urban and Regional Planning.

Home sellers who haven’t found buyers by this time, he says, are often in a rush to close deals.

“Sellers are thinking, ‘Oh, no, I have to sell this now,'” he says. “So they’re slashing prices or throwing anything they can at that buyer.”

The second week of November is a quiet time for the market, with a 50% drop in views per property—the biggest on our list.

“Nobody really wants to move or close in December unless they absolutely have to,” Roland adds.

Homes also stay on the market for 28 more days compared with peak times, giving buyers the luxury of choice without the pressure of immediate competition. And with the least expensive median list price on our list, Buffalo offers affordability without sacrificing charm.

6. Tampa, FL

Best week to buy: Dec. 3–9
Median list price: $439,244

Tampa, a city that straddles the spot where the Gulf of Mexico meets Tampa Bay, is a treasure trove for homebuyers in early December.

“Our market is totally different because we are not cyclical based on seasons at all, as most of the North is,” says Caitlin Jones, a Realtor with Dalton Wade Real Estate Group, in St. Petersburg. That’s because the warm weather is year-round, drawing buyers even during what would be the offseason of other markets.

The Tampa metro, which includes St. Petersburg and Clearwater, typically experiences a more than 40% drop in views per property compared with peak times. That means the competition has traditionally been as mild as a Florida winter.

The state’s tax laws also contribute to making it a good time to buy, Jones says.

Florida’s generous homestead exemption can provide significant property tax savings—and is portable, meaning it can be transferred from one homestead property to another. However, claiming the benefit requires owning the home on Jan. 1, or else having to wait until the following year.

“If you’re able to sell by the end of the year, there’s a tax benefit,” Jones adds.

7. Miami, FL

Best week to buy: Jan. 8–14
Median list price: $599,000

Miami, the Magic City, saves its best tricks for the new year.

To be sure, it’s the most expensive market on our list. It also became hugely popular during the pandemic as companies expanded and relocated in the area and scores of new residents poured in, boosting competition and home prices.

If you have your heart set on living in Southern Florida, it could pay off to hold out until the first weeks of 2024 to ensure the best buying conditions in the Miami metro, which also includes Fort Lauderdale and Pompano Beach.

New listings are up by 8% compared with the average week, giving buyers a fresh array of choices in this vibrant, multicultural metropolis.

Learn more at Realtor.com

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11 Fun Things To Do in the Mountains This November

 
 

From a festival hosted in Pagosa Springs’ steamy pools to a gathering of the nation’s preeminent cowboy poets, here are the best events in Summit County, Estes Park, Vail, and beyond this month.

If you’re one of the Centennial State’s half-a-million skiers, you’ve probably already planned a high-elevation vacay to Beaver Creek or Crested Butte or Breckenridge in November. That said, we probably don’t need to convince you—or your winter-sports-deprived thighs—to take a break from slaloming and explore other happenings. We’ve got plenty to keep you occupied while your quads recover, like feasting on Thanksgiving dinner at a newly Michelin-recommended restaurant, sipping Colorado-made wines while crossing off your holiday shopping list, or soaking your sore muscles at a hot springs festival. Read on for all the details.

Summit County

Wassail Days

Trade your frosty pint of beer for a mug of steamy wassail (hot mulled cider) during this weeklong winter gathering. As you window shop, sample dozens of Frisco businesses’ house-made cider recipes. If you try at least 12 tipples, you’ll leave with a limited-edition mug to commemorate your impressive wassailing. On Saturday evening, visit Frisco Historic Park & Museum for a tree-lighting party with fireworks and carolers; don’t pass up the free gift-wrapping station, where you can let the city’s handy elves handle the hard part while you linger over a cup of hot chocolate. Nov. 25–Dec. 3; times vary; free

Winter Carnival
Keystone might be some 3,000 miles away from the North Pole, but it won’t feel like that during this enchanting afternoon. Children can mail their wish lists north—or make their requests to Santa himself—enjoy cookies and milk, and listen to seasonal tunes sung by the Summit Choral Society. After the sun sets, gather for the ceremonial lighting of the River Run Tree. Nov. 25; 2–5:15 p.m.; free

Vail and Beaver Creek

Thanksgiving Dinner at WYLD
Even if your home cooking rivals Martha Stewart, we’d venture to guess that this Beaver Creek restaurant—which was in the first cohort of Colorado eateries recommended by the Michelin Guide—might be able to one-up you. Leave the basting to the experts, and enjoy a hyper-seasonal four-course menu of Thanksgiving favorites at WYLD, inside the Ritz-Carlton, Bachelor Gulch. Once you’ve had your fill, head to the hotel’s great room for a tree-lighting ceremony and warm hot toddies. Nov. 23; times vary; $160 per person

Estes Park

Catch the Glow Parade

Consider this massive spectacle the Macy’s Thanksgiving Day Parade of the Rockies. More than 20,000 revelers will congregate along Elkhorn Avenue to watch 40-plus hand-crafted floats, marching bands, dancers, and the big man himself stroll down Estes Park’s main drag. For an extra seasonal sideshow, hitch a ride on the (free) trolley decked out in holiday decor. Nov. 24; 5:30 p.m.; free

Holiday Wine Fest
Need to take the edge off of the hectic holiday hustle? More than 20 Centennial State booze makers, such as Snowy Peaks Winery and Atōst, will pour unlimited samples of 100-plus varietals during this mountain-town tasting event. Chase the beverages with food from Fork Yeah and Tacos with Altitude, and score some locally made stocking stuffers from vendors like MouCo Cheese Company and Hearten Creations. Nov. 25; 11 a.m.–5 p.m.; $5–$35

Winter Park

Travel Through Time & Grand County
The drive from Denver to Grand County is littered with stunning scenery and recognizable landmarks. During this visual road trip hosted by historian Mark Afman, you’ll get to see what those sights looked like decades ago. Afman, who’s family has had property near Grand Lake since the 1970s, will showcase historic photos of icons that span Denver, the I-70 corridor, Berthoud Pass, and Grand County. Stick around after the presentation for a Q&A session. Nov. 11; 5 p.m.; free

Georgetown

Bighorn Sheep Festival
The VIP section of this seasonal fest doesn’t include fancy drinks, plush banquettes, or velvet ropes—in fact, you’ll find the guests of honor on a nearby rocky hillside. Bighorn sheep will pay a visit to Georgetown, giving attendees a rare opportunity to see the species up close (spotting scopes will be available). Visitors can learn more about the animals’ biology, make sheep-themed crafts, toast s’mores, nibble bites from the likes of Georgetown Mountain Popovers, and receive archery instruction from experts. Nov. 11; 10 a.m.–3 p.m.; free

Salida

Parade of Lights
Each year, Salida lights what locals call “the world’s largest Christmas tree” (read: a 750-foot-tall mountain adorned with 4,500 lightbulbs). Before the town begins to glow with LEDs, line up to watch floats, horse-drawn wagons, local performers, and Santa stride down F Street. After dusk, the Salida Fire Department will oversee a flashy fireworks display to officially usher in the holiday season. Nov. 24; at dusk; free

Grand Junction

Western Slope Cowboy Gathering
Ever wondered how cowboys entertain themselves on the range? (Hint: it’s not with Netflix or TikTok.) It turns out, some of them can wrangle a tune as well as a steer. At this celebration of traditional Western poetry and music, catch performances from national and Colorado-based cattle ranchers-turned-artists, including poets Floyd and Valerie Beard, singer-songwriter Susie Knight, and Colorado Country Music Hall of Famer Peggy Malone. If you can muster the courage, sign up for a slot during the open-mic session. Nov. 3–4; times vary; $15–$25

Steamboat Springs

Farm to Table Dinner at Yampa Valley Kitchen
You don’t have to wait until Thanksgiving to start feasting. This homey farm-to-table function will satisfy your craving for seasonal produce weeks before the big day. You’ll be welcomed with a cocktail from Mythology Distillery and then sit down for a three-course meal of Colorado corn chowder, local lamb shank, and Muscat grape–rosemary shrub sorbet, all made by Yampa Valley Kitchen using ingredients sourced from Community Agriculture Alliance members. Out of town for the November dinner? Secure a spot for the December 5 installment. Nov. 9; 6:30 p.m.; $125 per person

Pagosa Springs

Hot Springs Fest

Even if this festival only consisted of sitting in the Springs Resort‘s healing pools for three days, we don’t think there’d be any complaints. But there are plenty of other wellness activities hosted across the resort during this weekend event, including Vinyasa-based aqua yoga classes, sound baths, calming hikes through the pine forests, and a gratitude ceremony. After all that relaxing, elevate your heart rate during a DJ dance party beside one of the hot spring pools. Nov. 10–12; times vary; $40–$150

Learn more at 5280.com

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West + Main Homes to Oversee Sales for Amacon’s Condo Project in Downtown Denver

 
 

Denver’s independently owned and operated boutique brokerage founded by Colorado natives, Stacie Staub and Madeline Linder of West + Main Homes will oversee the sales program for what will be Denver’s largest condominium development since 2009.

Read the full post on Mile High CRE.

Nestled at the crossroads of 18th and Glenarm, Canadian-based real estate development and construction firm Amacon’s monumental condos will reshape Denver’s skyline. Showcasing two towering structures, one will stand at 38 stories and the other at 32 stories.

“We approach this endeavor with great confidence and genuine excitement as we bring our expertise to the U.S., fully committed to creating a lasting and transformative impact in the heart of the Mile-High City,” said Stephanie Babineau, vice president of marketing and sales at Amacon.

Amacon’s commitment to placemaking will transform 18th & Glenarm into a people-centered hub, fostering connections, interactions, and a vibrant sense of community. This innovative 461-unit development will reshape the area, elevating it into a new, dynamic neighborhood with enhanced walkability and a rich mix of residential, commercial, and retail spaces.

“Amacon’s decision to entrust a local boutique brokerage over a larger chain underscores their commitment to conducting business in Denver,” said Stacie Staub, CEO of West + Main Homes. “We are honored to be part of transformative housing developments like this that facilitate our city’s unique and organic growth. We eagerly anticipate how this development will pave the way for Upper Downtown Denver’s future success.”

Davis Partnership Architects is the architect of record for the project.

In alignment with Denver’s urban renaissance, Amacon is addressing the rising interest in mixed-use development, combining residential, commercial, and retail spaces. This trend stimulates economic growth, job creation, increasing property values, and positively impacting local communities. Amacon’s extensive research into the needs of Denver’s demographic underscores its commitment to creating thoughtful and inclusive amenity spaces, appealing to a diverse buyer base.

The development of the two towers at 18th & Glenarm has been under construction since the spring of 2022 with completion scheduled for 2025.

West+ Main is an independently owned and operated boutique real estate brokerage specializing in residential and commercial properties in Colorado, Oklahoma, Minnesota, North Carolina, and Oregon. Currently West+ Main has approximately 500 real estate agents, 320 of these agents are in its Denver offices. West + Main’s sales team has sold over 1.4 billion in real estate and over 2,500 sales transactions earning them the 2023 Power 500 Broker Award and Top Workplaces as ranked by the Denver Post.

To stay updated on project news and how to be the first to purchase a condo, please visit amacon.com/denver.

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6 Sneaky Tips for Saving Money When You Remodel

 
 

There’s something romantic, rewarding, and even downright inspiring about bringing an outdated house into the 21st century—but ask anyone who’s been there and done it, and they’ll tell you the remodel process will test your patience, your budget, and perhaps even your sanity.

“It’s a journey into the land of unknowns,” warns Mike McGrew, a former treasurer for the National Association of Realtors® and CEO of McGrew Real Estate in Lawrence, KS. “You just don’t know what’s inside that wall and how much more it might cost to remove, say, that sewer line until you get in there.”

That’s not to say that renovating a home can’t pay off big-time, especially in the long run. And luckily, there are ways to cut costs during the process. Let’s check some of them out.

1. Be armed with info about competing contractors

Selecting a trustworthy contractor can make a world of difference in the timeline of a home remodel, which will ultimately save you money. Of course, you’ll want to ask friends and acquaintances for recommendations and follow up with references. But you might still be concerned that your budget isn’t quite as generous as the one deployed by your next-door frenemies, the Bickles. (Darn you, Bickles!) Do you have enough cash to make your dream renovation happen?

Here’s a little-known secret: Name-drop competitors and the prices they’ve quoted. More than likely, the contractor you’re meeting with will be willing to strike a deal to win your business.

Once you narrow down your options, you should get at least three written estimates to compare costs and timelines, and verify applicable trade license, bonding, and insurance status. And here’s a helpful tip: Insist on a payment schedule tied to project progress and keep at least 10% back until the job is completed to your satisfaction.

Now, if you have some basic DIY knowledge (or a kind friend willing to pitch in), you can save by skipping the contractor. But make sure you know what you’re getting into—there are some home improvement projects you simply shouldn’t DIY.

2. Know where to cut corners

As popular opinion has it, kitchens and bathrooms are the most desirable areas in the home to renovate, both yielding a return on investment around 70% or more. But a major renovation for a kitchen or bathroom could cost around $29,000—and there’s no actual guarantee on that ROI estimate.

If that’s a scary number for you, don’t despair. There are some simple ways to spruce up these areas without spending too much.

In the bathroom: A fresh coat of paint here (or just about anywhere, for that matter) and new countertops can “really dress up the place,” McGrew says.

In the kitchen: You can easily make your kitchen look more expensive with a few simple fixes, says Deidre Hyland, an agent for BHHS Fox & Roach Real Estate Agents & Associates in Medford, NJ. For example, you can replace cabinet and drawer knobs with more modern hardware or update appliances (when there’s a sale at one of the big-box stores).

3. Time your remodel just right

Homeowners frequently wait for warm weather of spring—along with that lovely spring tax refund—to start their home remodeling projects. But kicking off a renovation between January through early March—when there’s significantly less demand for contractors and materials—could allow you to land some good deals. Just be aware that weather conditions could make the project take longer.

Frozen ground and dry air are actually great conditions to dig foundations and pour concrete footers, and with some planning, you might be able to, say, complete a foundation or frame a room addition before the rainy season is in full force—and well ahead of when prices start to creep higher.

4. Shop floor models

When it comes time to shop for a new refrigerator or oven, don’t forget that sometimes the best deals are in plain sight. In fact, floor models often are marked down by as much as 20%.

Just beware, McGrew warns: If a product on display is plugged in or is otherwise being used, you should check the warranty to see if the deal makes sense.

Many stores also have a small inventory of “scratch and dent” items that are marked down. And when they’re not, customers can point out the flaws and see how low a sales associate is willing to mark it down—sometimes, the price can be reduced by up to 20%.

Other times, you can luck out with other people’s discards.

“You can find discounted appliances that were purchased and returned just because they didn’t fit,” says Todd Ricci, owner of C. Ricci & Sons Painting Contractors in North Haven, CT. “They are still brand-new.” (This is where we offer a friendly reminder to measure your space before starting any remodel! You’re welcome.)

5. Opt for ready-to-assemble cabinetry

New cabinets can easily become one of the most expensive parts of a kitchen remodel, accounting for as much as 40% of your renovation budget. But going for ready-to-assemble or semi-custom cabinets can cut the cost of cabinets by nearly half.

Prices typically start from as low as $60 per foot for budget to midlevel cabinets. Compare this to the cost of custom cabinets—which range from $500 to $1,200 per linear foot—and you’ll quickly realize this simple workaround could land a pretty sweet deal. (The range in prices depends on factors such as style, material, and cost of installation.)

6. Reuse materials

Ask your contractor if he has any materials left over from a previous job that you could snag at a fraction of the cost. Of course, this means you’ll need to be flexible about your materials and have some wiggle room when it comes to a specific paint color or shade of countertop.

Maybe that gray granite is just a tad lighter than you originally had in mind, but it still looks good—and, of course, will put a lighter load on your project’s bottom line.

We’re not saying you won’t drop a chunk of change on upgrading your home. You will! But that doesn’t mean you can’t be smart about it and save some cash along the way.

Learn more at Realtor.com

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