Norris4Homes November 2018 News

Dated: 11/26/2018

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HAPPY THANKSGIVING 2018

Thank you for being a part of our lives here at Norris4Homes Real Estate. In this special season and time of year, we celebrate with family, friends and good food, all keeping in mind that we are blessed to live in the United States.  We are so grateful for our fantastic clients who have chosen us to help them buy and sell their homes!  And we are so thankful for you all allowing us to be a part of your lives! If you know of anyone who is looking to buy or sell their home, then please, let them know about how wonderful your experience was, and have them reach out to us so that we create an amazing experience together. And stay safe out there if you are planning on shopping today!

Big News:

I am very pleased to announce that my oldest son, Steven, has joined the Norris4Homes Team!  Steven is a CSU graduate, earned his degrees in Business, Finance, Marketing, Real Estate, and Math, and has been a Realtor for two years, working with a real estate company in Fort Collins while completing his degree.  With Steven’s focus, determination and great customer care, he is a welcomed addition!


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Local Denver Metro Real Estate Report- October 2018

In October, year to date, inventory has increased 35.28 percent compared to last year in the residential market (single-family and condos) and Under Contracts are 14% less year over year (YoY). Yet, other real estate market factors including sales volume, days on market, and housing prices continue to slightly favor home sellers in the Denver area. Year to date through October, sales volume for the Denver-area residential market has exceeded $22.5 billion, up 5.45 percent from last year (based on price increase). The average and median home prices in October were $471,321 and $400,000 respectively, up 7.12 percent and 5.26 percent compared to 2017. The single-family average sold price last month was $526,092, up 8.43 percent year over year.

“You know when you go on a very long car ride and the passengers ask, ‘Are we there yet?’ over and over? That’s what I’ve been hearing this past month when talking to people about our current real estate market,” said Jill Schafer, Chairof the DMAR Market Trends Committee and Metro Denver REALTOR®. “They mostly mention two things when asking if we’ve shifted to a Buyer’s market: One, houses don’t seem to be selling in the first weekend anymore and Two, we’re seeing price reductions like we haven’t seen in years.  Even with those two things in mind, my answer is ‘no,’ we aren’t there “yet” and it appears we still have a ways to go before we get to a Buyer’s market. And that’s not just my opinion, that’s the story the statistics tell as well.”

Looking deeper into the numbers, October ended with 8,539 active homes on the market more than any other month since November 2017. In October, 4,628 homes were placed under contract, up 5.11 percent over the previous month and down 14% year over year.

Schafer adds, “Yes, houses are taking a little longer to sell with an average of 29 days on market for single-family homes in October compared to the super-fast 19 days in June. That just means we’re in the middle lane going the speed limit instead of in the fast lane going 100 miles per hour. Anytime you go from 100 to 65 miles an hour it feels like you’re crawling, but, remember, you’re still moving forward and the market always slows down when the leaves fall.”

The highest priced single-family home sold in October was $5 million representing seven bedrooms, 11 bathrooms and 16,249 square feet in Greenwood Village.  The highest priced condo sold was $2,649,000 representing four bedrooms, seven bathrooms and 5,107 square feet in Cherry Creek North.

“Single-family homes have 5.76 months of inventory remaining- up 2 months YoY, while condos have 8.15 months remaining,” said Andrew Abrams, DMAR Market Trends Committee member and metro Denver REALTOR®.


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What to Keep in Mind when Selling your Home

First, find a “full service” Realtor and not a “discount Realtor”. Why? A discount Realtor who sells your home at a “flat fee” or a substantially lower commission than is standard in the industry, has to sell 2-3 homes compared to one to make up the difference in lower fees.  That means they will not be able to be available to you as often and many times, you will be “assigned” to a pool of agents in the office that are not intimately involved and have little to no knowledge of your home and your circumstances other than what’s on a piece of paper given to them.  That means poor service to you with not as much focus and zero to little marketing dollars and push to get the mass exposure your home needs and deserves to get the best price!

Second, always, always use a Professional Home Stager.  What was thought of as a trend, at first, 20 years ago and only used for “thrashed” or “luxury” homes is more standard for use in the $400k- $750K range. You wouldn’t sell a car before detailing it, right? That’s the same thing with staging your home. The professional Stager has been trained and knows what to do to make your home appeal to the broadest amount of Buyers.  We use Sensational Home Staging, one of only a few in Denver that has the coveted Accredited Staging Professional (ASP) designation.  Call or visit us for more details: 303-717-9664/ Norris4Homes.com


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Things to do this Holiday Season

Here a just a few fun things to do this Holiday Season around Denver~

Now through December 23:A Christmas Carol: The Musical:Toes will tap and hearts will swell during this musical adaptation of Charles Dickens's holiday heart-warmer. Town Hall Arts Center, 2450 West Main Street, Littleton, 303-794-2787,townhallartscenter.org.

Now through December 23: Denver Christkindl Market:Skyline Park transforms into a traditional German holiday market with cozy beverages, holiday treats and charming gifts every holiday season. Free admission, Skyline Park, 16th and Arapahoe streets,christkindlmarketdenver.com.

November 23: Light the Lights/Grand Illumination:Civic Center Park hosts a winter festival before Denver City and County Building's lights are turned on (3 to 7:30 p.m.); meanwhile, colored lights along Union Station, Larimer Square, 14th Street and the 16th Street Mall will start glowing as well (4-6:30 p.m.). Free, various locations,denvergov.org.

November 23-December 23: Santa's Village at Chatfield Farms:Kris Kringle and his reindeer visit on Fridays, Saturdays and Sundays to wish kids of all ages a merry Christmas. 4:30-8:30 p.m., $20, Denver Botanic Gardens, 8500 West Deer Creek Canyon Road, Littleton, 720-865-3500,botanicgardens.org.

Norris4Homes favorite:

November 23-December 31: A Hudson Christmas:Wander the grounds and take in the holiday lights on select dates through New Year's Eve. 5-9 p.m., $8-$10.50, Hudson Gardens & Event Center, 6115 South Santa Fe Drive, Littleton, 303-797-8565,hudsongardens.org.

For more details:  https://www.westword.com/arts/holiday-events-and-things-to-do-in-denver-and-beyond-through-december-31-2018-10919646

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John Norris

I specialize in assisting individuals and families with their real estate needs. I represent buyers, sellers, and investors in all areas of real estate, luxury home, new construction, second-home, and....

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