Troy Hansford for Denver Real Estate | 303-617-0607 | HansfordTeam@TroyHansford.com
          

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Should You Stop Renting and Buy Now?

How did the December 2017 real estate market do and when is the best time to buy a home in 2018?

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The numbers are in for the December 2017 Denver real estate market.

According to the South Metro Denver Realtor Association, the number of new listings has been down 6.1% for the last two years from 2,368 new listings in December 2016 to 2,224 in December 2017. The number of sold homes is also down, dropping by 10.2% from 4,308 sales in Denver 2016 to 3,868 sales this past December.

At the same time, the median price is up 10.8%.

What do all of these numbers mean for you in the 2018 market?

Inventory and homes sales both dropped, but the median sales price increased. That means buyer demand is outpacing supply.

One reason buyers are actively looking for new homes now is because interest rates are still low. Rates are predicted to go up three times in 2018.

If you do plan on buying a home, it’s better to make your move now rather than later.

If interest rates do go up, you have less purchasing power. Every 1% increase in interest rates will cost you 11% in purchasing power.

Not only that, home prices are still on the rise as well.

For example, let’s say you are currently paying $2,000 a month in rent. You qualify for a $375,000 house right now. However, you decide to wait until June for a better deal.

Let’s say you wait and by June, home prices have increased by 6% and there’s been a 0.5% increase in interest rates.

Your $375,000 house is now worth $397,500. You’ve lost $20,635 in purchasing power, and you spent $12,000 to continue renting and wait for a better deal.

Ultimately, it makes more sense to buy now. Home prices will only increase throughout the spring market, and securing a low interest rate now will save you a lot of money in the long run.

As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you.

What the 2017 Market Tells Us About This Year

Here’s what you need to know about our real estate market. The new year is going to be a fantastic one for home sellers.

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I’ve been getting asked how the market is doing a lot recently. I’ve got some numbers and some graphs to share that show just how great this current market is.

On the first graph in the video above, you see the number of active listings in 2017 that are organized by month. In January, we started at around 7,300, then saw the numbers climb as we hit March. We hit the peak of the market in July, then we slowly see a decline to the end of the year. This is where we have our lowest inventory level of the year. This is a progression we typically see every year.

“I anticipate a great year in real estate.”

The next graph is similar. It illustrates how the average sale price changed throughout the year. The average sale price started at around $400,000 in January and follows a similar path to the active listing chart. However, in December, the average home price leapt to $438,000, which is close to the $443,000 average sale price that we saw at the peak of the market. This is a significant increase.

With all that being said, the low inventory and rapidly increasing home values are going to make 2018 a fantastic market. I anticipate a great year in real estate. If you have any questions for me in the meantime, give me a call or send me an email. I look forward to hearing from you soon.

An Exciting Program to Crowdfund Your Next Home

Down payments are a barrier to many who want to buy a home. With the help of  HomeFundMe™, you can collect small donations from several people to help make the payment.

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You’ve probably heard the word “crowdfunding” before, and perhaps you’ve wondered what that means exactly. Well today, we’re going to show you that you can actually use crowdfunding to help someone with a down payment to purchase their home. I have special guest John Klaess from CMG Financial here to talk a little bit more about this crowdfunding program.

The program is called HomeFundMe™, and it’s a crowd-sourced funding program for down payments. It allows an individual to get down payment funds from many different people in their sphere, instead of just family members.

We find that with most people, it’s not the monthly payment that’s keeping them from buying a house, but rather the down payment itself.

Who can contribute to this program?

HomeFundMe™ has very few restrictions. The program is designed to borrow small amounts of money from many different people, instead of one large deposit from one person. You can contribute $0 to $499, and anyone is able to do so. There’s a little button on the site that you click to donate to the cause.

If you’re giving $500 to $7,500, there is a pre-written gift letter that will be sent on your behalf. Anything over $7,500 falls into your typical gift for the down payment. The great thing about HomeFundMe™ is that you don’t have to source those contributions.

It’s my understanding that you’re the only company that’s offering this?

Yes. It’s a Fannie Mae/Freddie Mac-approved program, and CMG Financial is the only company offering it at the moment. To take advantage of it, you will need to get pre-approved, but we will also help you build your HomeFundMe™ site. There’s no charge to build the site, and it will last for a year, so you can start and buy a house within that time frame.

“HomeFundMe™ allows an individual to get down payment funds from many different people in their sphere, instead of just family members.”

We’re really trying to get people pre-approved and educating them on the home buying process so we can teach them what they can do in order to succeed in their goal.

Since I’m sure you’ll have a lot more questions about this exciting new program, you’re invited to reach out and contact either myself or John’s team over at CMG Financial. He can answer your questions and hopefully help you or one of your loved ones buy a house in the coming year.

Call Ironwood Earthcare to Protect Your Trees This Summer

If your trees are in trouble, now is a great time to do something about it. I recommend calling Ironwood Earthcare.

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If your trees are turning yellow or not doing very well, what can you do?

I recommend calling Ironwood Earthcare, the top tree and landscaping service in Denver. Ironwood will come out and do some deep-root feeding for your trees.

“Ironwood Earthcare will do some deep-root feeding for your trees. “

A deep-root feeding is a great way to help your trees perk right up. Just give them a call at 303-366-3020, email them at info@ironwoodearthcare.com, or visit their website.

As always, if you have any real estate questions, just give me a call or send me an email. I would be happy to help you!

What the Hail Is Going on Here?

If you’ve sustained hail damage from the recent storm, listen up. Here’s the first thing you need to do.

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After the recent hail storm we saw come through Denver, you might be wondering what your next step should be if you have roof damage from the storm.

The one thing you shouldn’t do is call your insurance company first. We’re not saying don’t call them at all, but you should have someone else come out and take a look before you file a claim. Even if an insurance agent comes out and decides that there isn’t enough damage for a claim, they will still count that claim against you and use it to raise your rates in the future.

We have some great roofers that we can refer you to. They will come out, take a look, and let you know if you have a good enough case for an insurance claim, free of charge.

“One of our roofers can come take a look free of charge.”

As you can see on the roof I’m on in the video above, the storm really decimated some properties. The top of the vent cover is dented in and there are shiny areas that signify hail damage throughout the roof. This is the kind of damage that is covered by your insurance.

If you have any questions for us or just need some help assessing the hail damage you took, give us a call or send us an email. We look forward to hearing from you soon.

We Are Proud to Support Kids Running America

We are proud to support Kids Running America. It’s a great organization with a goal of keeping our future generations healthy and active.

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Troy Hansford, of the Troy Hansford Real Estate Team at RE/MAX Unlimited, is donating Racer Runners for the Denver Spring 2017 Marathon and Ultra Programs. Both events, which take place in April, are being put on by Kids Running America, which is dedicated to preventing and reducing childhood obesity in America’s school-age children by increasing their physical activity level through its unique incremental running programs.

“This program completely embraces Racer Runners’ whole philosophy on getting children active. So we are honored to support them by offering a reward for their hard work and dedication to health,” said Hansford, who is also the co-creator and owner of Racer Runners.

Racer Runners is a sound and light module placed on the shoe, turning any pair of footwear into a magical adventure race. Racer Runners spark the imagination directly while incorporating the timeless benefits of exercise. Easily secured on the shoe and placed in the “ready” mode, the Racer Runner’s ignition relies solely on the movement and running of the racer. Sound is released with rapid-fire lighting.

Runners who register for the Denver Spring 2017 Marathon and Ultra Programs will receive a gift bag that includes a Racer Runner. For more information and to register, visit https://www.kidsrunningamerica.org/program-list.html.

About Troy Hansford, Troy Hansford Real Estate Team, RE/MAX Unlimited Colorado Licensed Broker Troy Hansford and his stellar real estate team specialize in Saddle Rock Golf Course homes, South East Aurora real estate and homes and neighborhoods around Cherry Creek schools. Troy serves Denver, Aurora, Centennial, Parker, Littleton, Highlands Ranch and Castle Rock, CO. He is also the specialist for anyone looking for Colorado golf course homes and Denver area country club properties. For more information, please call (303) 617-0607, or visit http://www.troyhansford.com. RE/MAX Unlimited is located at 3300 S. Parker Rd., Suite 100, Denver, CO 80014.

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A Special Thanks From Our Team

2016 was an outstanding year for our team, and we plan to do even better for you in 2017.

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We’re happy to report that we had a fabulous year in 2016 and we wanted to take a moment to say thank you.

We had such a great year that we made it onto the cover of a real estate magazine! We ranked 34th in Denver, and that’s something we’re all very proud of. We couldn’t have done it without our amazing team, and of course, you. Your business and referrals have helped us get to where we are today.

“We couldn’t have done it without our amazing team, and of course, you.”

You’ve probably heard that buying a home is challenging in the Denver market right now. The good thing is that we’ve been able to implement some strategies that really worked last year and helped our clients get the homes they dreamed of.

If you’re thinking about making a move, we’d love to show you more about why we had so much success in 2016. Just give us a call or send us an email and we’ll be in touch!

We’re Sponsoring Kids Running America

Today I want to talk a little bit about Kids Running America, a nonprofit organization that helps get kids excited about being physically fit.

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Today I want to talk to you about an upcoming event that we are very proud and excited to be a part of: Kids Running America.

Kids Running America will complete the final leg of their marathon, which started last fall, at Wash Park on April 23rd.

Kids Running America is a nonprofit organization that promotes active lifestyles and helps kids get excited about being physically fit. We love being involved with the community in any way we can, so this year we will be one of the sponsors for the marathon.

“This year, Kids Running America will end their marathon at Wash Park on April 23rd. “

For more information on Kids Running America, click here.

As always, if you have any questions about the market or if you are looking to buy or sell a home, feel free to give us a call or send us an email. Happy spring! We look forward to hearing from you!

Radon Mitigation Is Both Easy & Inexpensive

Radon gas is a hazardous gas that comes from the ground and is common all along the front range. Luckily, getting rid of it is easy and inexpensive.

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Radon gas is a danger that could be lurking in your home without you even knowing it. I recently came across this article that explains more details about the dangers of radon and how to get rid of it.

What is radon? Where does it come from and why is it dangerous? It’s common for homes all along the front range to have radon.

Radon is the number one cause of lung cancer among non-smokers, but the good thing is that it’s easily remedied in your home and it’s inexpensive to take care of.

Basically, you have a fan or ventilation system installed that evacuates the gas from the lower levels of your home. If you need a referral for a good radon mitigation installation company, we’d be happy to refer some companies that we work with every day.

“Radon mitigation systems are easily installed and inexpensive.”

If you have any other questions or you’re thinking about buying or selling a Denver home, give us a call or send us an email. We’d be happy to help!

How an FHA Loan Can Reduce Your Mortgage Payment

I recently received an email I wanted to share with you about how you can save money on your monthly mortgage payment.

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If you are thinking about taking out a new loan, you might want to consider an FHA loan. I recently received an email letting me know how FHA loans can save you money on your monthly mortgage.

So how can you save some money on a new loan?

FHA has reduced their mortgage insurance premium. Currently, if the loan amount is $350,000, you pay 0.85% toward the mortgage insurance, which is $2,975 a year. With the new premium, you’ll only pay 0.60%, which would drop it down to $2,100 a year.

Monthly, that takes you down from $247 to $175!

This is a pretty significant change, as it allows you to afford more home and keeps you from spending so much on mortgage insurance.

If you would like some more information on FHA loans, or if you have any other questions, please feel free to give me a call or send me an email. I would be happy to help!