Denver Home Inspection
The purpose of a thorough home inspection is to ensure that Denver home buyers know exactly what a home’s condition is prior to completing the transaction. A good Denver home inspection should include an evaluation of the foundation, framing, roofing, site drainage, attic, plumbing, heating, electrical system, fireplaces, chimneys, pavement, fences, stairs, decks, patios, doors, windows, walls, ceilings, floors and built-in appliances. All significant or pertinent findings should be reported in writing to the prospective Denver homebuyer. The home inspection report gives the Denver homebuyer the information he or she needs to determine whether to buy the property as is or to ask the seller to make repairs.
In most cases, when an Denver homebuyer makes repair requests, sellers usually agree to some if not all of the conditions.
Denver Real Estate Cycles
One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Denver market does not necessarily move in tandem with the stock market or the economy as a whole. Denver is a unique situation.
When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Denver is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Denver market will take the lead.
Denver Real Estate Cycles
What makes most sense is the "buy and hold" strategy. Buy a home you expect to remain in for at least seven years or more. Denver is no different than most, although the Denver market does have it's own special circumstances.
Want to get a clear and up-to-date picture of the Denver real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely.
Buying a Denver Fixer-Upper
This, of course, depends on the condition of the Denver home and the estimated cost of the repairs you must make. Denver real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.
Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Denver homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.
Buying Denver Below Market
Isn’t that everyone’s dream? I hear it from prospective buyers almost every day and many of them want to find the perfect Denver home priced considerably under market. Is it possible? The answer may surprise you but often it is possible. You just need a sophisticated buying strategy.
Now the idea that you can simply decide one day to go house hunting and find just the Denver real estate you want priced way under market is pushing your luck. But if you take advantage of some of today’s Internet technology, do your homework and bide your time, you might find just what you are looking for. First let’s look at the technology.
The advantages of buying in any particular city or area depend on the buyer’s individual needs. Factors include proximity to schools, work, shopping, recreation, cultural opportunities and health care. Affordability is another important factor. So your first step in considering Denver or any other city is to determine which of your needs are met and which are not met.