From all of us at Team Shift at Modern Real Estate, we would like to take this opportunity to that you for your business, and wish you a Merry Christmas and Happy New Year.
Metro Denver home sales rose 9 percent in May from April, with prices up slightly and the inventory of homes for sale holding steady, according to a monthly update from Metrolist.
The time it takes to sell a home or condo, however, is up significantly from a year ago – 43 percent to 109 days.
“Prices aren’t down year over year as much as one would speculate looking at the increase in days on market, and I think that’s due to our low inventory helping to put a floor under prices,” said Gretchen Faber, a broker manager at The Kentwood Company at Cherry Creek.
The median sales price for single-family homes was $230,000, up 4 percent compared to the prior month, and even with May 2010. The median sales price for condos was $132,525, up 9 percent month-over-month and down 2 percent year-over-year.
There were 19,573 homes and condos available for sale at the end of May, on par with April and down 11 percent from a year ago.
The number of homes put under contract is up 1 percent in May from April and up 23 percent from May a year ago. That big drop reflects the passage of an April 30 deadline last year to get a home under contract for a homebuyer tax credit. April 2010 experienced a surge in home sales followed by a drop in May.
Overall sales were down 15 percent in May compared to a year earlier.
Aldo Svaldi: 303-954-1410 or email@example.com
Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.
The HomePath property buyer must meet the following qualifications to be eligible:
In a few states, a bonus promotion may be available to selling agents who close on an owner occupant property meeting the above terms & conditions.
Retail and public entities are eligible for the incentive; however pool and auction sales are not eligible.
The incentive may not be available for a property where Fannie Mae acquired the property in connection with financing under a reverse mortgage. Ask the listing agent for details
Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.
Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
Call us today to discuss this great deal and how to find a perfect HomePath home!
Yup, it’s official! As of 1-11-11, Shift Real Estate Services is now Team Shift at Modern Real Estate. We have joined forces with Modern Real Estate to be able to provide our clients with more! This was a value savings proposition for our agents, so that we can provide our client’s with more.
The agent’s are the same, providing the same great services, only the name has changed.
We look forward to our partnership with Modern Real Estate, a growth in our real estate market, and to making many new clients very happy in the future!