Referral Rewards

Hey, everyone! Thanks for visiting my video real estate blog! 

Today, I wanted to thank all our past clients, family, friends and vendors. We have been getting a ton of referrals and we can’t tell you how much we appreciate it.

That’s why we are offering our Referral Rewards Program. If you send a referral and that person completes a transaction, either buying or selling, we will give you a $100 Visa Gift Card. You can use the card anywhere! You will also be considered a Platinum Customer. At the end of the year we will be hosting a dinner party showing our appreciation for you!

If you provide us with a second referral, we will give you a $500 Visa Gift Card! We really want to show you how grateful we are.

Also remember if you know of anyone who is relocating out of the Denver/Boulder area, we have a referral network that is nationwide. We can help you out no matter where you go!

Thanks for watching!

How to Sell in a Competitive Market

When selling your home, you want to get the best deal. We have some tips to help you get top dollar.

1. Don’t get greedy. Waiting too long to sell your home can actually cause a 7-10% decrease in sales. The best time to sell is within the first 30 days. A home that sits too long on the market can really be stigmatized. 
    
2. If trading up, move fast. If you are buying a larger home with a bigger price tag it’s important to avoid appreciation and buy the home quickly. Inversely, if you are downsizing, you can move slower in the process to earn more money.
   
   
3. Curb appeal. Ninety percent of buyers look at a home online first. If the home is not appealing, they will not visit. Make sure all structural issues are taken care of, the carpet and walls are cleaned, etc. All of this should be done before the home is put on the market.
   
   
4. Guard against low appraisals. It is important to get an experienced agent who can provide good, valid comparables.

These are the steps we are taking in working with our sellers.

If you or anyone you know is looking to buy or sell please call us at 303.543.3078 or send us an email at kevin@thebyrnegroup.com

Buyers' Market Competition

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In a sellers’ market, buyers face a lot of competition. We want to give you tips on how to make your offer irresistible:

1. Pay cash. If you’re able to, cash is a great way to make your offer stand out. Sellers love cash offers because there aren’t any appraisals, loan conditions, etc.
   
   
2. Get preapproved. Not everyone can make a cash offer; the next best step is to get one or more preapproval letters to show the seller. (Have preapproval letters, not prequalification letters)
   
   
3. Make the best offer. In today’s market, you can’t make a low offer first. It needs to be full market price or higher.
   
   
4. Up the ante. There are escalator clauses that allow a buyer to bid a certain amount over another buyer's bid, up to a certain point. This allows you to be made aware of other bids on the home.
   
   
5. Beef up your earnest money. Showing the seller you have more cash than the average buyer in the market definitely helps your offer stand out.
   
   
6. Write a love letter. Often times the sale is emotional for the seller. Let the seller know you love the home, why you want it, what you will enjoy about it.
   
   
7. Gift of time: Give the seller enough time to find a replacement home.

All these tips will help make your offer one of a kind. Make sure you have an experienced realtor who can help you with these and has knowledge of the market.

If you or anyone you know is looking to buy or sell a home please contact us at 303.543.3078 or email at kevin@thebyrnegroup.com

May 2013 Real Estate Update

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We watch our marketplace closely throughout the year with the understanding that any activity reflects upon what we can expect moving forward. The numbers of sales, inventory on hand and average number of days it takes to sell a home are all changing. Here is a look at what’s happening today in our marketplace and what it means to you as a buyer or seller.

Homes Sales Continue to Rise

Looking at the sales figures from January, the number of closed sales was a phenomenal 46% higher than last year. The number of homes under contract this year has gone up dramatically at than the previous year as well. This is in part due to buyers finally jumping off the fence to lock in today’s low interest rates.

Inventory Levels Dwindling

As more and more buyers seek out their perfect homes, the number of available homes on the market is continuously going down. Right now, we are reporting a 32% decline of available homes on the market as compared to the same time last year. With the average number of days on market down to just 80 – things are moving quicker than just one year ago.

Sellers Need Strategic Positioning Despite Seller’s Market

Though we are seeing far fewer homes on the market for sale, sellers still need to be mindful of strategy. As always, well priced homes that are in good condition and in great locations are the first to go. To get those multiple offers that will drive your price up and get your top dollar, your need to be sure you are pricing your property effectively.

Buyers Experiencing Fierce Competition

Considering that our sales are up and inventory is down – buyers are pulling out all the stops to get the home of their liking. In fact, many are resorting to aggressive measures to get their homes. Multiple offers, price wars, removal of contingencies and larger earnest deposits are just a few of the things buyers are resorting to, making it a great time to sell your property.

Interest Rates At Historic Lows

Buyers are still able to lock in amazingly low interest rates – currently at about 3.5% in our area. This has almost created a buying frenzy of sorts especially given the pent up demand following last year’s Presidential election and the Fiscal Cliff crisis. With rates expected to rise by mid-year this year or at the latest, next year – many buyers are scrambling to buy now.

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Whether you are looking to sell your home or buy – now is a great time to jump off the fence. Sellers are enjoying stacks of offers and buyers can relax with the peace of mind knowing they are locking in the industry’s lowest rates ever. Contact us today – we’d be glad to help you find your next dream home or help you with an honest opinion of what your home will sell for in today’s marketplace.

The First Buyer to Make an Offer is Usually the Most Interested Buyer

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We’ve seen it time and again. A seller eagerly lists their home, finds a buyer with a serious offer but chooses to wait things out and see if other (better) offers come along. While it can happen and it does sometimes, the problem is that there is a process usually followed by buyers and along with it a pipeline. Here is a look at how they lead up to making an offer and how by the time the first buyer seriously considers your home they are likely the most viable one.

Buyers Are More Educated

With the advent of technology, the entire real estate industry has changed. Gone are the days when buyers would rely solely on their agent to find a home to suit their needs. Today, the Internet has taken over. In fact, studies show that over 90% of buyers spend weeks online searching for their perfect home before even talking to an agent.

So by the time a buyer is at your doorstep with an offer, there is a good chance they have thoroughly researched every aspect of the local market. They are fully aware of your competition, have weighed all pros and cons of your home and are seriously interested in your property. After countless open houses and obtaining plenty of education about the real estate market in their area, they know when they see a property that suits their needs. In many cases they are waiting for the perfect one to become available so the minute it does, they make an offer.

By the Time They Make an Offer, They Are Well Into the Process

Where sellers go wrong is to want to wait for more offers. In the process, those very serious buyers that have already made their interest in your home known will likely find another home to suit their needs. Buyers today are savvier than ever before – and with that education that they so readily find and absorb from various sources (the Internet, other publications, their peers, professionals) they have an acute knowledge of the market.

In the process of selling your home, it is critical to keep all factors in mind. Factors such as the condition of the market, your agent’s recommendations, current inventory levels, the number of days most properties remain on the market before being sold and of course prices. Putting all of that into play will change how you handle that first buyer but remember – the first buyer will almost always be your best buyer.

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For a consultation that is customized to your needs, contact us today. We look forward to serving you!

7 Key Business Principles To Make Sure Your Home Sells for the Most Amount of Money

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For most people, there are usually one or two transactions in a lifetime when it comes to buying and selling real estate. That’s why when many existing homeowners or first-time buyers find themselves ready to sell a home they may need a few pointers on how to get their home sold these days.

Here are seven very important aspects to successfully selling a home that will have a significant impact on how quickly you will sell and how much financial gain you can expect on the sale; concepts that are geared toward today’s fast-paced, virtual and digital real estate industry.

Expertise and Pricing Strategy
When considering selling your home, it is important to choose an agent to work with wisely. A key factor in success of your sale, is finding the right agent for you. Be sure you are working with a Realtor that not only demonstrates expertise by way of many successful past and present transactions, but also one that actively seeks to develop a strong pricing strategy with you.

Pricing strategy has a major impact on the success of a selling a property. Without the right price a home can and will sit on the market, literally exhausting its time on the market. Find an agent that will focus on what they will do to get you the best price, rather than one that is so eager to earn your business that they quote an inflated and unrealistic price just to make you happy.

Condition and Perceived Value
These days we are dealing with far more properties on the market than there are buyers. In this type of environment, it is critical that your property be in marketable condition, good enough to compel buyers’ interest toward your home and away from the competition. The goal should be to achieve maximum perceived value upon buyers seeing your property, making them feel that your property is the best value on the market.


Differentiation
Once again, in an effort to stand out from the crowd and ensure your home generates plenty of interest among buyers, make sure the agent you hire does everything they can to promote your property. The key is doing so in a unique way that grabs buyers’ attention and keeps them interested. Whether this means using an agent that utilizes virtual tours, has a wide network of in-house buyers and a highly tech-savvy agent that caters to today’s buyer – it is important that your Realtor works hard to differentiate your listing from the rest.

Exposure
A lot of real estate agents underestimate the power of the Internet and with the advent of smartphone technology, tablet devices and other real-time communication methods, now more than ever before it is essential that agents tap into all forms of exposure for their clients’ listings. It is critical that your home appear in a number of online venues where buyers typically go to obtain information. Strong marketing techniques also play a strong role in good exposure.

Execution
One of the most important components of a successful real estate transaction is the smoothness of handling that makes the process efficient and as seamless as possible. Working with a team of professionals provides the solid backing of a variety of expertise levels within the team, so that your agent can focus on what they do best – selling your home.

Being able to leave the back-end support aspects of your transaction to qualified, in-house team members is the way that top-producing agents across the globe manage to juggle everything. Anything from listing specialists, pricing experts, buyer agents, closing coordinators, virtual assistants, marketing professionals, listing managers and more – all contribute to a successful selling transaction.

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If you would like a customized consultation on how we can service your real estate needs, get your home listed and achieve top dollar in good time – contact us today! We look forward to serving you.

Real Estate Trends on Both Sides of the Fence; Here's What is Happening

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We are definitely seeing a plethora of lengthy reports about the real estate market these days, whether on a national level or honed in on a particular local area.  But the fact remains that the market is in an unstable state and keeping track of indexes, watching over home sales and how they fluctuate from month to month or year over year, is giving us a glimpse into what to expect.  It is these very measures that allow us to foresee the greater trends that exist so we can act accordingly.  Here, according to which side of the transaction you are on, are some happenings in the industry and what they mean to you as a home buyer or home seller.

Buyers Don’t Beware
Buyers Trend #1
Foreclosures have slowed down. 

For the most part, whatever foreclosures that had flooded the market have either slid into transition stage, where the banks are reviewing documents and going through the sometimes lengthy review process that comes before accepting applications to purchase a foreclosed home – or there are fewer properties available.  There was indeed a flood of distress sales in the market that occurred in the recent past but banks have now shifted away from foreclosures and they are favoring short sales instead. Short sales are a far better option for many reasons, but the two main benefits remain 1. Homeowners are either able to retain some of their credit while buying back their home at less than its current value and 2. Banks are spared the added expense and risk that goes along with foreclosures.

Buyers Trend #2
Prices remain historically low.

One thing that has not changed for the duration of our current recession, even as we have headed into a double-dip economic downturn, is that as a result home prices continue to be at their lowest level in years.  In the S&P Case-Shiller Home Price Index, it is indicated that housing prices these days rival a 30-year low and they seem to be hanging there in place as the market remains unsettled. Even though prices are as low as they are, the fact remains that these transactions that are taking place are happening with regular homeowners and simple sales deals, rather than banks for foreclosure sales.

Buyers Trend #3
Rates are still at an all-time low.

Interest rates, depending on the day, are still as low as a little under 5% for the average 30-year fixed rate mortgage loan.  For potential homeowners and those who want to move up or seize the opportunity to move into a luxury residence, this could not be a more perfect time to invest in that property.  For those people willing to remain in the mix for the long haul, the current market trends will predominantly not affect them in terms of return on investment.  The market will indeed bounce back, whether 6, 7 or even more years later.  And when it does, you will end up having much more house (in terms of value), while still paying that very low interest rate.
It’s a Small (Selling) World After All


Sellers Trend #1
There are lots of buyers looking to buy. 

When you are selling your property, the more the potential buyers the merrier.  With the number of buyers who are looking for a great deal your chances of selling are a lot better these days and if you have a home that has unique or upgraded amenities you can further avail the opportunities that will come with having that edge over other sellers.

Sellers Trend #2
Inventory is down. 

With the number of pending sales in limbo on a day-to-day basis, inventory figures are relatively low.  This is great news for people looking to sell their properties, because that translates to more buyers for the taking and the ones that do come looking at your property are far more impressionable.

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To sum things up, right now is a great time to be a buyer – especially with all the incentives out there ranging from super low interest rates to housing prices that are closer to those from 7 or 8 years ago.  If you can afford it now, buy now.

As a seller, the main advantage you have these days is that there is less inventory for those buyers out there looking for a deal now – which means you have the edge and better chances of selling that property.
The trends keep fluctuating a bit here and there but the major things remain:  low rates, low housing prices, low inventory.  And now is the time to seize the opportunities that lie within these trends.