You’ve Got Questions - I’ve Got Answers
What is the 1st step in the home buying process?
Getting pre-approved through a mortgage lender. Why? You need to know how much you can borrow, in order to know the price point of a home you can afford.
I'm a home buyer. How much do I have to pay you to help me buy a home?
Approximately $0. Traditionally, the Seller pays for my commission as the Buyer's Agent, as well as their Listing Agent's commission. All of my Buyer Agency agreements are structured such that you are never on the hook for paying me.
How will you find potential buyers/renters for my property?
According to the National Association of Realtors, 87% of home purchasers used an agent. As a result, my primary focus is marketing directly to Realtors, as there is an 87% chance that the buyer of your property will have found your property via their agent. I do so through a variety of tactics, including but not limited to, social media, the MLS, attending Realtor only meetings, email blasts, etc.
How long does it take to buy a home?
If you're paying with cash, the whole search and under contract to close period could take less than 2 weeks. If you're getting a loan, the time varies! The pre-qualification and search period typically lasts 30-60 days, while the under contract to close period is typically 30 days or less. Altogether, the average is about 9-18 weeks (60-120 days). Given the situational differences, it is best to consult with your Realtor on your particular timing needs and goals sooner rather than later.
What is a Seller's market?
A Seller's market is when a Real Estate market's conditions favor Sellers. Indicators of a Seller's market include:
Less than 5 months of housing inventory (means demand is high and supply is low!)
Increasing home values
Low number of days on market
Interest rates moving downward (cheaper borrowing of money increases Buyer demand/competition)
What is a Buyer's market?
A Buyer's market is when a Real Estate market's conditions favor Buyers. Indicators of a Buyer's market include:
More than 5 months of housing inventory (means supply is high and demand is low!)
Decreasing or steady home values
High number of days on market
Interest rates increasing
What is an ADU?
ADU stands for Accessory Dwelling Unit. An accessory dwelling unit is a secondary living space on a lot zoned for a single-family residence. For example, an ADU may take the form of a finished basement with a private entrance, a mother-in-law suite above a garage, etc.
When is the best time to buy?
There are a few sweet spots throughout the year where conditions become slightly more favorable for Buyers. However, there are many factors that come into play for your unique situation, such as an existing lease terms, present and future interest rates, what's going on in the market, etc. In short, it is largely based off of your circumstances and goals!
When is the best time to sell?
There are a few sweet spots throughout the year where conditions become slightly more favorable for Sellers. However, there are many factors that come into play for your unique situation, such as your timing needs, your moving situation, etc. In short, it is largely based off of your circumstances and goals! However, Denver is currently in a strong Sellers' market, meaning that right NOW is a great time to sell.