I am a realtor and real estate investor based in Centennial, Colorado, With over 15 years of experience, I aim to help homebuyers make smart, strategic purchases. I advises first-time and “experienced” buyers alike to build a team of experts, scrutinize their finances, and remain in control throughout the process.
Buying a home or investing in real estate is one of the most expensive and life-altering decisions most people make. Since it's not a topic that's heavily touched upon in school, most people end up "winging it" and learning on the fly.
Sure, that's one way to approach it. A better way is to get familiar with important concepts and practices that can help you make sound buying decisions and avoid costly mistakes.
As a real estate agent, investor, and coach, I've been through countless transactions with clients. My goal is always to provide a framework for buyers to make smart, strategic purchases.
Here are my eight best pieces of advice for buyers:
As home prices and rental rates continue to soar with little restraint across the metro area, a decidedly unsexy topic — accessory dwelling units — is generating more heat as communities look to the small living spaces on small lots for needed relief in an overheated real estate market.
On Tuesday night, Englewood will hold an open house on accessory dwelling units to get feedback from the public on what the rental units should look like and where in this city of 33,000 they should and should not be allowed.
According to the Denver Metro Association of Realtors, the average price in April of a single-family home in metro Denver reached a dizzying $487,974 — a new high. Meanwhile, rents in the metro area resumed their upward climb this year after pulling back somewhat last fall. The average apartment rents rose to $1,446 in May, up $19 over April’s average.
By virtue of their smaller size, accessory dwelling units tend to be cheaper to rent than conventional apartments. Englewood is p…
Can you buy a piece of a shopping mall? See question No. 3
Real estate is an important component of the U.S. and global economies. For many Americans, homeownership doubles as a first investment. Beyond a primary residence, investors also can buy into the commercial real-estate market: Office buildings, multifamily housing, hospitals, parking lots, storage facilities, retail properties, call centers, distribution hubs, hotels and restaurants form a sector with its own economic ups and downs.
In 2016, the S&P 500 recognized real estate as its own sector, separating it from financial services where it had been buried for years—a move some view as a portent of more real-estate investment to come and that others view with indifference. Currently, real estate accounts for less than 5% of the S&P 500 by market cap.
How much do you know about real estate—and real-estate investing?
1. What foreign country’s investors are buying the most U.S. commercial real estate?
According to the latest marketing statistics from REcolorado, the Denver Metro market hit a five-year high for new listings in the month of February, giving buyers more options, especially in the $300-500,000 price ranges. There is currently 7 weeks of inventory, 1 week less than January and 1 week more than last year at this time.
In February, home sales decreased 1% from last year, but are up 16% from January, which is a sign we’re heading into the busy buying and selling season. The number of homes that moved to Under Contract in February was 10% higher than last year, indicating it was an active month.
Additionally, homes are continuing to sell quickly, in an average of 49 days, five days faster than last month and last year at this time. The rate at which home prices are increasing continues to moderate, with the average price of a single-family home rising to $464,354 in February, up 1% year over year.
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