Home sellers stretching for every last penny in metro Denver

Homes facing a price cut now outnumber new listings

By ALDO SVALDI | asvaldi@denverpost.com | The Denver Post
November 16, 2019

Home sellers in metro Denver appear to be trying to squeeze every last drop out of a historic run-up in prices. But in doing so, they risk getting squeezed themselves.

In the past seven days, through Thursday, 1,433 new homes and condos came on metro Denver’s multiple-listing service. But in that same stretch, 1,539 listings underwent a price decrease, notes Anthony Carnesi, CEO and manger at Keller Williams Realty DTC.

“The number of price reductions in the six-county area is greater than the number of new listings,” he said.

That’s a rare occurrence, and when Carnesi first spotted it in August, he thought it was an aberration that would quickly resolve itself. But the trend of overpricing has been at play for 14 straight weeks, and he is speaking out.

Normally, listing price adjustments spike when the market is turning and prices are on the decline. Sellers and their agents find themselves caught off guard by a “real” price decrease.

But that’s not what is happening right now. The median price of a home or condo sold in October in metro Denver rose 5.8% over the past year and is up 1.8% over the past month, according to the Denver Metro Association of Realtors.

Carnesi describes the phenomenon as a “false” price decrease, driven both by greed on the part of sellers and agents unwilling or unable to provide a realistic listing price.

Some sellers may think no harm, no foul — let’s try to get as much as we can. But mispricing a home off the bat can cost a seller in a delayed sale, or in extreme cases, no sale.

Listings with a price reduction spent an average of 59 days on the market, whereas one that was priced correctly sold in an average of 14 days, according to the Denver Metro Association of Realtors.

Of course, “correct price” is self-defining. Sellers may not realize they have mispriced until they test the market.

What are some signs a price was set too high? A key one is a lack of traffic at showings. Agents are steering their buyers to listings they consider a better value.

There are also cases where interested shoppers do show up, but they don’t make an offer, meaning they don’t view the price as reasonable given other alternatives.

After botching the initial listing, sellers need to make a dramatic gesture to get buyers interested again. Offering token slivers of price reductions won’t do the trick, Carnesi said.

What makes the mispricing so frustrating is that most sellers are sitting on huge equity gains following a near doubling in home values in metro Denver this decade.

That is much different than at the start of the decade when seller equity was so depleted many had to drain the bank account to complete a closing.

There are other signs of a market shift. A year ago, one out of three homes that went under contract with a Redfin agent in metro Denver had received multiple offers, according to the Seattle real estate brokerage.

But in October, only 6.8% of metro Denver homes on the market received multiple offers. Nationally, the number of homes on the market receiving multiple offers dropped from 38.7% to 10.2%, which represented a 10-year low.

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



JFK, Trump & THE DEEP STATE — John Barbour

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



The rule of law has collapsed in America, a nation where the guilty go free while the innocent are persecuted and silenced

Sunday, November 17, 2019 by: Mike Adams

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(Natural News) As of November 15, 2019, the rule of law no longer exists in the United States of America.

This has become abundantly apparent with the rigged jury decision to incarcerate Roger Stone for the “process crime” of misstating memories during interrogations with federal agents. In an era where Hillary Clinton is openly allowed by the director of the FBI (treasonous criminal James Comey) to destroy evidence, obstruct justice and get away with high-level crimes because “she didn’t mean to” violate the law, Roger Stone is about to be sentenced to what will essentially be life in prison (he’s 67 years old).

In an era when former president Barack Obama illegally laundered billions of dollars through international banks in order to fly actual pallets of cash to Iran to fund their nuclear weapons program, Julian Assange rots in custody, denied his freedom, his health and his sanity for over a decade, all as punishment for daring to expose the dark secrets of the military industrial complex.

The jury against Roger Stone was rigged with over 90% of the people in the jury pool found to be supporters of Hillary Clinton. The malicious fake news media smeared Stone for years, installing intense hatred in the minds of the jurists and cementing the outcome of the “trial,” if it can even be called that.

Meanwhile, Adam Schiff (Loonbag-CA) holds secret trials with secret transcripts in secret dungeons, coaching witnesses to say what he wants them to say while editing secret transcripts to make those witnesses appear to say things they never said. The treasonous media runs with every lie Schiff hands them, having long abandoned any last shred of journalistic integrity or basic human decency.

90.9% of Stone jury pool voted for Hillary

The rule of law has collapsed in America, a nation where the guilty go free while the innocent are persecuted and silenced
Sunday, November 17, 2019 by: Mike Adams
Tags: Adam Schiff, Collapse, corruption, deep state, due process, lawless, Roger Stone, show trial, treason
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Image: The rule of law has collapsed in America, a nation where the guilty go free while the innocent are persecuted and silenced

(Natural News) As of November 15, 2019, the rule of law no longer exists in the United States of America.

This has become abundantly apparent with the rigged jury decision to incarcerate Roger Stone for the “process crime” of misstating memories during interrogations with federal agents. In an era where Hillary Clinton is openly allowed by the director of the FBI (treasonous criminal James Comey) to destroy evidence, obstruct justice and get away with high-level crimes because “she didn’t mean to” violate the law, Roger Stone is about to be sentenced to what will essentially be life in prison (he’s 67 years old).

In an era when former president Barack Obama illegally laundered billions of dollars through international banks in order to fly actual pallets of cash to Iran to fund their nuclear weapons program, Julian Assange rots in custody, denied his freedom, his health and his sanity for over a decade, all as punishment for daring to expose the dark secrets of the military industrial complex.

The jury against Roger Stone was rigged with over 90% of the people in the jury pool found to be supporters of Hillary Clinton. The malicious fake news media smeared Stone for years, installing intense hatred in the minds of the jurists and cementing the outcome of the “trial,” if it can even be called that.

Meanwhile, Adam Schiff (Loonbag-CA) holds secret trials with secret transcripts in secret dungeons, coaching witnesses to say what he wants them to say while editing secret transcripts to make those witnesses appear to say things they never said. The treasonous media runs with every lie Schiff hands them, having long abandoned any last shred of journalistic integrity or basic human decency.

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The rule of law has collapsed in America, and no one is safe from the hate-filled left-wing mob that now openly seeks to criminalize all political opposition.

If you oppose the Democrat mob, you will be targeted and destroyed
If you oppose the Democrats, you will eventually be targeted by the IRS (Lois Lerner, anyone?), arrested by the Feds in a midnight raid that’s coordinated with CNN (a la Roger Stone), de-platformed from all the major tech platforms, smeared on Wikipedia with an onslaught of fabricated lies, demonized by the fake news media with coordinated hit pieces (as the NYT just did with John Solomon) and harassed in public by violent, drooling left-wing mobs that are triggered into rage by the very sight of the American flag or a MAGA hat.

The juries in left-wing cities will never find a violent Leftist guilty, nor a conservative patriot innocent. A jury in San Francisco, for example, set an illegal alien free after he shot and killed an American woman in an obvious case of manslaughter, if not homicide. But he was set free because San Francisco is a “sanctuary” city, which means the people who run that collapsing sh#thole of feces and filth have decided to ignore the laws they don’t like.

And this is how things are now progressing — if you can call it that — all across the country, where the rule of law is abandoned at will, replaced by a raging, anti-American, anti-Trump, anti-freedom tyranny of the left-wing majority mob.

The left-wing dedication to authoritarianism and tyranny is now so complete that all the tech giants recently conspired to memory hole the name of the deep state spy “whistleblower” Eric Ciaramella. Even uttering that name will get you banned on Facebook, YouTube and Twitter. Indeed, stating a name now gets you banned from the public square for the simple reason that the deep state has ordered the tech giants to eliminate that name from public discourse.

Similarly, the tech giants have now banned a Republican candidate for congress simply for being a Republican. Under the tyrannical thumb of Jack Dorsey, an un-indicted criminal guilty of treason against America for rigging elections, Twitter is now banning people for merely tweeting, “I hired Donald Trump to fire people like Yovanovitch,” referring to the lying former ambassador of Ukraine, who is whining about being fired after wasting taxpayer money by doing a lousy job as ambassador.

The effort to criminalize Trump’s foreign policy, you see, is really just a symptom of a much larger effort being pursued by the lawless, deranged, lunatic Left: The complete criminalization of “disobedience” to the left-wing agenda.

The Rest Of The Story Here

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



Exploding the Myths of Today’s Denver Real Estate Market

MICHAEL ROBERTS | NOVEMBER 13, 2019

Over the past year or so, there’s been debate aplenty about whether Denver’s real estate market has finally started to cool off after being red-hot for the past few years, and if the transactional environment has actually become friendlier to buyers than sellers.

There’s no single answer to these questions. But Megan Aller, a sales representative for First American Title Insurance Corporation who’s been working in the area for the past thirteen years or so, is an exceedingly authoritative voice in the discussion. Each month, she issues a Denver metro market report filled with an astonishing array of data. And based on these figures, she believes that while conditions have improved for those wishing to purchase a home, reports of a full-scale transition are overstated. Right now, in her words, “it’s a slightly less harsh seller’s market.”

Aller knows all about the roller-coaster tendencies of home-selling in Denver. “I had the pleasure of starting out at the very top of the last market,” she says. “I rode it all the way to the bottom, and then up to where we are now.”

Back in the period between 2005 and 2007, she continues, “it was considered normal for there to be about 36,000 active listings. That created a relationship between buyers and sellers such that each buyer had six to eight homes to choose from. But there was writing on the wall that we were headed into a recession, including loans being written for the entire value of the property, if not more — up to 120 percent, in some cases. That put us on shaky ground where, if a recession did show up, it was going to tip the scales and place a lot of people upside down on their houses — which is exactly what happened. During that time, we were also experiencing minimal appreciation in Denver, so when we finally got to the bottom of the recession, the unemployment rate was 10 percent and people were in the position of needing to sell their houses, because they weren’t able to pay their mortgages.”

A telling statistic offered by Aller: By 2010, approximately 52 percent of transactions that closed in the seven-county Denver area were foreclosures, short sales or distressed transactions of the sort insured by the U.S. Department of Housing and Urban Development.

At that point, Aller notes, “we bottomed out and started our recovery process — and in 2012, shortly after the election, there was a surge of pent-up demand due to people not purchasing properties during the recession years. Our inventory had dropped to historically low levels at that point, and because there was a surge of new people moving into Colorado, we went from six to eight homes per buyer to two or fewer homes. At lower price points, under $400,000, there was less than one home available per buyer. That created the multiple-offer scenarios that we’ve seen over the last seven years — and it’s driven prices upward. We’ve been sitting in a market with from 9 to 12 percent appreciation up until this year.”

More recently, inventory has increased, and that’s resulted in increased price reductions and concessions, particularly on more expensive properties. Simply put, Aller says, “sellers can’t be as aggressive in their pricing strategy because there are fewer people who can afford to make these purchases.”

Circa 2012, she explains, “our average prices were roughly $300,000, in round numbers, and with a 10 percent appreciation rate, that meant prices were going up $30,000 annually. We did that for three years in a row. Then it went up to $400,000, and last year, it crested at $500,000. So to keep up that rate, you’d have to go up $50,000 annually. That’s an accelerated price growth curve that’s not sustainable. Now, house prices are going up roughly $35,000 a year, and that results in an appreciation rate that’s lower than 10 percent.”

This slow-down “is likely a good thing,” she feels. “With a healthy appreciation rate, we’re trying to beat inflation by 1 or 2 percent. If we could squeak out a 3 to 3.5 percent appreciation rate with inflation sitting at less than 2 percent, homeowners should be able to make their monthly payments, and they’re naturally building equity. But our average rate has been 4 to 5 percent, and it’s been 9 to 12 percent over the last six or seven years. That’s nearly three to four times what a good appreciation rate is, so we’ve been very spoiled in Denver.”

More recently, the appreciation rate has eased and is now in the 5 to 7 percent range, leading to those assertions about Denver becoming a buyer’s market. But Aller thinks such speculation can have negative repercussions: “When we start saying that, buyers will offer significantly less than the asking price, thinking we’re headed toward a recession — and that can put them in a poor position, because they’re probably not going to win the home,” particularly during the prime spring and summer buying seasons, when she expects to see multiple offers being typical once again.

Folks looking to buy now may have better luck, depending on their resources. “During the winter months, there are fewer multiple offers, but there are definite price cutoffs. I would say buyers who are looking for homes under $500,000 are more likely to have to come in with a stronger offer versus those homes over $600,000. The threshold of demand and higher prices doesn’t exist as much in the lower price range, and there are fewer people who can afford to pay higher prices — so that creates more negotiating power.”

Still, potential buyers at the lower end of the scale may have some advantages right now, too, Aller maintains: “They’ll have more negotiating power and choices available in November and December. And there’s also been a recent dip in interest rates, which is why people shouldn’t just focus on price, but also factor in the cost of a loan. Nine out of ten buyers now require financing to purchase a property, and we’re now more than 1 percent lower than we were a year ago. That’s enough to completely offset all the appreciation we’ve seen this year, and it will make the average priced home cost just over 10 percent less on the principal and the interest payments as of the end of October than it did this time last year.”

She admits, “It can be inconvenient to look for houses this time of year because of the weather. You have to pay premium prices to have the pleasure of moving in the summer months. But it’s more affordable to make that purchase now.”

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



This Wicked Agenda is Global

1SGTreport

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



Peter Janisch Brings Home National Honor

Press Release

FOR IMMEDIATE RELEASE

Local Real Estate Professional Brings Home National Honor

Broker★Agent™ Advisor Honors Achievement

Phoenix, Arizona 11-12-19

Now in its 25th year, Broker★Agent™ Advisor celebrates the success and accomplishment of the industry’s finest real estate professionals through it’s exclusive ‘Certificate of Excellence’ Program.

Through proprietary criteria, formulas, and other valuable considerations, Peter Janisch of Professional Brokers Group has been distinguished by Broker★Agent™ Advisor as one of the best in business based on achievement, potential, leadership, ethics, community value, experience, capability, and trust for their service during the calendar year of 2018.

“Peter Janisch exemplifies the type of professional we designed this award for,” says Chad Golladay, Executive Publisher of Broker★Agent™ Advisor. “A true credit to their company, profession, and community both inside and outside of their real estate practice; one with whom the honor is truly ours in being able to share this award.”

There is no cost or fee required for this award, and all applicant’s credentials are verified, which makes this honor one of the most genuine in the industry towards identifying those truly worthy of special recognition and distinction.

Peter Janisch can be found in Broker★Agent™ Advisor’s national online directory of award recipients here: https://brokeragentadvisor.com/brag-directory

Seven Star Award

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



Honoring Veterans Day…

Posted on November 11, 2019 by sundance

Today is a special day. It is an opportunity to pause and give thanks to those who serve in our military services, past and present. Today is our Veterans Day.

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Never For Self, Always For God & Country

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



What The Illumanti Stole From Us-Love In Light

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



I Drained The Swamp I Did A Big Favor I Caught The Swamp

1 The Patriot Hour

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



These Reductions Are Only Just The Beginning

November 6, 2019 Ben Jones

A report from the NY Post “The Long Island mansion from the 1986 flick ‘The Money Pit’ has become a real-life money pit. This Nassau County home has sold for $3.5 million after five years on the market. That’s 76 percent less than its original 2014 asking price of $12.5 million. Sellers Rich and Christina Makowsky invested $5.9 million in renovations after buying the North Shore spread for $2.12 million in 2002, according to Fox Business.”

The Pikes Peak Courier in Colorado. “According to an informal survey of six real-estate brokers, sales in Woodland Park average about five a month, with the median price holding steady from $350,000 to $360,000, a jump from the median range between $250,000 and $275,000 in 2014. And there are no fisticuffs around to signal bidding wars for homes; that’s pretty much in the past according to the six.”

“The market is in transition, with homes staying on the market longer. ‘In 2018, for instance, most homes sold for the listing price or above,’ said Michael Harper, independent broker. ‘My recommendation to the seller is to price the home correctly. You can’t expect to get away with pricing a home for more than it’s worth.’”

“Since 2016 housing prices have been appreciating about 30%, said Beth Gregory, a 15-year veteran of the business. ‘It’s been one of those crazy markets for the past couple of years.’ But the appreciation is not destined to last. ‘We’ve got sellers right now who are challenging to work with, because they got so used to housing prices jumping — we were seeing bidding wars in the spring and summer seasons, but those have ceased,’ she said.”

“Kellie Case and Connie Sims are part of the Agent Leadership Council for Keller Williams Clients’ Choice Realty who work in the Woodland Park office. Case saw a shift in demand for single-family homes beginning in July. ‘There are a few new listings every day and lots of price decreases, because 99% of what drives a home’s ability to sell is price,’ she said.”

“As far as demand does, homes in the $300,000 to $400,000 range are still selling quickly. ‘We’re still seeing some multiple offers, but not for everything,’ she said. ‘But homes from $500,000 to $700,000 didn’t go as we had thought. I priced them based on the previous six months of comparable sales, but the market didn’t tolerate it.’”

“Relatively new to real estate, Case acknowledges that she hasn’t been through previous recessions when the market collapsed. ‘I am preparing me and my business to weather a downturn because it’s really an opportunity, if you look at it, instead of being doom-and-gloom,’ she said.”

The Orange County Business Journal in California. “Aliso Viejo homebuilder New Home Co. is following through on its plan to focus on sales volume over price, shifting its home prices downward to capture growing demand for affordable housing. The developer and builder, among OC’s top sellers of higher-priced homes the past decade, is emphasizing ‘pace over price,’ said Leonard Miller, who took over from Larry Webb as chief executive in August.”

“‘Our more affordable projects continue to perform well relative to our move-up and luxury communities from both a sales pace and margin perspective,’ Miller said during the company’s quarterly conference call.”

From KXII in Texas. “Last month was the largest single month for home building in Sherman in more than three decades, and a local realtor said this growth is affecting the housing market. City officials say Sherman added 59 new houses in October. Owner and broker at Tracy Realty, Tommi Homuth said developers like Highland Homes, Cupid Homes, and Holley Jolly Developments are expanding housing options in the area. ‘We have more inventory on the market, prices are starting to come down, it’s a buyer’s market,’ Homuth said.”

From Arlington Now in Virginia. “A $999 reduction on a million-dollar home. Why should you care? It’s a question we get quite a bit here at the Just Reduced column. Sure, some of the reductions we see equate to a one percent savings off the list price… or even much less. These types of reductions may not seem that impressive, especially when we see prices on some listings drop by hundreds of thousands of dollars or upwards of 10 or even 25 percent.”

“But it’s important to keep this in mind: These reductions are only just the beginning. Some sellers reduce prices to appease to online searchers (e.g. a buyer with a budget of $1 million won’t find your $1,000,001 listed home in a search of properties under $1 million). Some have drastically overpriced their initial listings. And, in some instances, buyers have deadlines of their own to meet and just need to get moving.”

“The bottom line with reduced properties: Sellers are taking action. With a trusted team by your side, you can harness their activity/urgency and negotiate further.”

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.