Last week’s Hot Topic covered Denver first time buyers that are pondering “out saving” the Real Estate market by holding off and saving up for a down payment on that dream home. Another option is starting small and maximizing bank leverage and equity to build to the dream home. What works best for one may not work for others. This week late’s take a look at what happens during the time of the Fall real estate trend.
Refer to the chart above. As inventory drops, prices rise. So, Fall (or Fall?) inventories are up over the past few months.Yes Fall is in the air, the leaves are changing, and the morning weather is crisp. Simple supply and demand cycles quite in rhythm with the seasons, as does housing. We know there are buyers out there and the market has been tight. There are multi offers in short periods of time, and sellers have had the upper hand. For example what would happen if the house down the road sold for X a few months back, and then just on the other side of the road last month, a similar home sold for XX. I’m going to put my house on the market and I expect XXX after all I have a larger _____ or nicer _____. (you fill in the blanks)
The major questions.
The overriding question is, “is it seasonal?”. Is the inventory only up by the normal seasonal cycle or is Fall only part of the equation? We are in an election year, one of the the most unpredictable I have seen in my lifetime. Are we too far right? Are we too far left? Has there now been made enough space in the middle? The market has been on an upswing since the depths of the recession about 8 years ago. Markets have a predictability with a steady flow and even handedness.
So, as Fall weather comes our way, will prices of homes fall beyond the seasonal flow? Will more Fall real estate flood the market than buyers flock to pick up a deal? Will we retain the important balance? Will the market entice enough buyers into the fray to absorb the influx? These are all only ideas to ponder. My advice would be to not short yourself. If you are a buyer or a seller the formula is the same. Keep the horizon view! Buy or sell not based solely on any one factor, but on what feels right for you and your future. Your situation is your situation.
If you are considering Buying or Selling here in Denver Metro click the link to reach my site. my site,DenverHomesMarket.com. Sellers, If you are asking yourself “Should I sell my home in Denver?” There is a valuation form for you to send my way. I’ll be happy to do some research to see what your home might fetch. For Denver Home Buyers go to property organizer, set up a few searches and get e-mail alerts, or send me a message and I can set them up for you.
Next Week’s Hot Topic: “Do You have what it takes?”