Idyllwilde in Parker Colorado is one of the beautiful luxurious neighborhoods that make up this town.

Located on the east side of Parker, the views range from Pikes Peak and Rampart Range to DTC and Downtown Denver. This neighborhood is one of the few in Parker that offer maintenance free homes. Idyllwilde is a community centered neighborhood with activities and groups for everyone. The community clubhouse offers monthly events such as women’s bunko night, men’s poker night, book club, yoga, scrapbooking club and a mom’s group. Idyllwilde is also home to its very own coffee shop, Fika Coffee House, the perfect cozy spot for a relaxing cup of coffee. Come enjoy all Idyllwilde has to offer!

Where is Idyllwilde? 

Idyllwilde is located about 8 miles from downtown Parker Colorado. Commute time to the Denver Tech Center is about 25 minutes – Downtown Denver about 40 minutes.

There are three major hospitals within easy commute to Idyllwilde. The closest hospital is Parker Adventist Hospital, about 10 minutes away in Parker. Castle Rock Adventist Hospital is located approximately 15 minutes away in the Meadows in Castle Rock. Sky Ridge Medical Center is located about 20 minutes way in Lone Tree. All three hospitals are relatively new and considered among the best in the Denver Metro area.

This article talks about the fact that we are in a seller's market. 

Cheryl Bustin​ and I are dealing with this every day.  We have four homebuyers that we are currently working with.  One is in the $500,000 range.  A cash buyer looking for a home for his son and wife.  One in the $700,000 to $800,000 price range, also looking for his daughter, who is a med student at Rocky Vista University.  Another one in the $600,000 price range, moving from California to be near their adult children.  And, finally, one in the $1,000,000 to $1,500,000 price point, looking for a very large home on acreage.  With the exception of the one looking in the million dollar plus range, every home that we consider, goes under contract within a couple of days.  And, every one, so far, has been considerably over asking.  Cheryl and I are "in the real market" every day with real homebuyers dealing with the real market.  We pay attention to statistics, put out by the so called experts.  But, with "a grain of salt".   When we see every listing that we are considering have 40 showings and10 over asking offers, we know it's a seller's market.  So, what would our advice be?  Well, if you want to or need to sell your home, go for it.  You're going to get top dollar.  If you're a homebuyer, go for it. Waiting will be the worst thing you could do.  Why?  Even though you're going to be nervous about the high price you're paying, it likely will be higher every day you delay.  Also, you're concerned about the mortgage rates.  I don't blame you.  But, what if they go even higher (which I do not believe)?  Lock in today's rate.  If they fall in the future (which is highly likely), you can refinance.  If they never fall, you will be so proud of how brilliant you were when you locked in the low rate.  Finally, if homes continue to increase in value over the years (which is a historical fact), you will see your net worth grow from that appreciation.  Keep renting?  No growth in net worth.  And, higher rent payments every year.  Not good.

Cheryl and I know this marker better than most.  After selling over 350 homes here in Douglas County and the Denver Metro Area, we are equipped to provide you with the real estate service you deserve.  Call me at 720.220.5058 or Cheryl at 303.981.7339.

The Spring Housing Market Could Be a Sweet Spot for Sellers [INFOGRAPHIC]

Some Highlights

• The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy.
• The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market.
• The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, let’s connect today.

Some Highlights

• The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy.
• The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market.
• The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, let’s connect today.

Time To Buy A Home Now

This article addresses the value of purchasing a home in the long run.  It's based on national numbers.  So, the values used are quite a bit lower than here in Colorado.  Also, I do not believe that we will see any drop in values this year.  I think we're about to see another spike.  Over and over, we're seeing homes go over asking.  Today, one of our clients is considering an offer on a home listed at $510,000.  After visiting with the listing agent, we know that they have three offers at $545,000, with more possibly coming.  Here in Parker, these listings in the $500,000 to $700,000 price point are getting 25 to 50 showings and 5 to 10 over asking price offers.  If you think about it, that means 25 to 50 homebuyers did not get that house. They're still out there.  This will keep prices level and higher throughout this year.  Not wise to wait for prices to fall.  Not going to happen.

Why Buying a Home Is a Sound Decision

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.

This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.

Home Price Appreciation in the Years Ahead

Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report indicates what they believe will happen with home prices over the next five years. As the graph below shows, after mild depreciation this year, these experts forecast home prices will return to more normal levels of appreciation through 2027.

The big takeaway is experts aren’t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That’s a great example of why homeownership wins over time.

What Does This Mean for You?

Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. Here’s how a typical home’s value could change over the next few years using the expert price appreciation projections from the survey mentioned above (see graph below):

In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you’re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term.

Bottom Line

According to the experts, while we may see slight depreciation this year, home prices are expected to grow over the next five years. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) are projected to grow. Let’s connect to begin the homebuying process today.

Neighborhood Video of Canterberry Crossing In Parker Colorado

Who are the sellers in this market? 

For the most part, they are people who "need to sell" rather than "want to sell".  This is a short article that addresses this situation in the market.  

What Cheryl and I are seeing in our market here in Parker, Colorado is exactly that.  For instance, we have three new listings coming up in the next few weeks.  One is a single man whose mother is dealing with an illness.  He needs to move back to California to be be with her.  Another one is a man who is transferring to Arizona for his job. And, the third one is retired and decided to move to a warmer climate (Florida).  All of these "need to sell" in order to accomplish what they "need to do".  They may have low mortgage rates on their current homes, but they are willing to give up those rates.  The "need" is worth it.  

We have many clients here  in Parker that would love to sell their current home and purchase a nicer home.  They can afford it, but when they do the math of walking away from a 2.5% mortgage and replacing it with a 6% mortgage, they put the brakes on.  They "want to sell", but they don't "need to sell".  So, they don't.  This is the main reason that we have an inventory shortage.  Thankfully, we still have plenty of buyers.  I just wish we had more homes for them to buy.  

Enjoy this short article.  And, of course, if you have any real estate needs, please call us.  We would love to visit with you.  Call me at 720.220.5058 or Cheryl at 303.981.7339.

Falling out of Love with Your House? It May Be Time To Move.

Owning a home means having a place that’s solely your own and provides the space, features, and location you and your loved ones need. But what happens when your needs change? If this hits home for you, it may be time to make a move.

According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), the average person has lived in their current house for ten years. If you’ve been in your home for a while, think about how much in your life has changed since you moved in. Even if you thought it would be your forever home when you bought it, it doesn’t have to be. Work with a local real estate agent to explore all your options in today’s market before settling for your current home.

That’s actually what a lot of homeowners are doing right now. A recent survey from Realtor.com finds that, of people who are considering selling in 2023, one in three are thinking about moving because their home no longer meets their needs. And according to the same report from NAR, that’s consistent with this year’s top reasons for selling, which include:

• Want to move closer to friends or family
• Moving due to retirement
• Home is too small or too large
• Change in family situation
• Job relocation

If things in your life have changed, it may be time to make a move. And there’s good news: it’s still a great time to sell. Here’s why.

We’re in a strong sellers’ market. That means homes listed at market value and in good condition are getting attention from buyers and selling quickly. Lean on your expert real estate advisor for the best advice on getting your house ready to sell.

Your equity can power your next move. There’s a good chance you have a significant amount of equity right now thanks to record levels of price appreciation in recent years. When you sell, you can use that equity to help afford your next home. In fact, NAR’s report from above shows 38% of recent buyers used the money from the sale of their previous home to cover the down payment on their next one. Work with a local real estate agent to learn how much equity you have and what you can do with it in today’s housing market.

Bottom Line

If your home no longer meets your needs, consider selling it so you can find your dream home. Let’s connect so you can learn about your options. Call me at 720.220.5058 or Cheryl at 303.981.7339.

In the United States, there are over 72 million millennials. If you’re part of that generation and have thought about buying a home, you aren’t alone. According to Zonda, 98% of millennials want to become a homeowner at some point if they aren’t already. But why? There are plenty of reasons you may choose to become a homeowner. Here’s why other millennials have made that decision (see graph below):

This graph shows why millennials are buying homes according to Zonda’s 6^th annual millennial survey. The top reasons include building equity, a change in life stage, wanting stability, rising home values, and wanting to make somewhere truly their own. Here’s a look at each in more detail.

Building equity – Homeownership is a long-term investment that allows you to build wealth, increase your net worth, and become more financially stable. Beyond that, the alternative to owning a home is typically renting. With the way rents have risen so dramatically over time, it may make sense to build your own equity instead of the equity of the person you’re renting from.

A change in life stage – As a millennial, you’re reaching your prime homebuying years. That means you may be at the point where you need more space or a different location.

Stability or settling down – This could mean establishing your career or just generally deciding more concretely what you want your life to look and feel like. As that idea becomes clearer, you may want to establish that lifestyle in a particular place and put down roots.

Rising home values – By purchasing a home, you own an asset that traditionally increases in value over time. That can mean your home will have a higher resale value if you decide to move again.

Wanting to make somewhere “mine” – Owning a home gives a sense of freedom because you can customize it however you want, make updates as you see fit, and be yourself in a place that’s solely your own.

Bottom Line

There are plenty of great reasons why millennials are buying homes today. If you’ve thought about becoming a homeowner and any of these reasons resonate with you too, let’s connect to explore your options.

See Parker's best neighborhoods as if you were already here.  

Ride with us as we drive through some of Parker's most popular subdivisions. Watch and listen, as we describe what we are driving past just as if you were actually in the car with us.  A NOTE of caution.  These videos have been produced over a period of years.  Price points mentioned do not reflect current prices.  Click the link below to see all 22 Neighborhood Videos

Parker Colorado Neighborhood Video Tours

This article is projecting exactly what I've been saying for months.  But, so many of the buying public does not believe it.  Of course, I can't guarantee that prices have stabilized and will steadily increase.  But, that's my feeling.  And, that's what this article is saying.

There is just so much demand and so little inventory.  It's supply and demand.  Home prices are going to be driven up.  Here in Parker Colorado and the Denver Metro Area, we're certainly experience it.  We've been working with quite a few buyers (mainly from out of state).  In every case, we've had to offer over asking to "be in the hunt".  So far, unfortunately, we've not been able to secure a contract. Bur, we will.  In most cases, the seller had over 50 showings and 10 or more offers (all over asking).  

The moral of the story.  If you're a buyer in this market, you need to face reality and get aggressive.  And, stop worrying about paying too much.  In the long run, you'll do just fine.

Cheryl and I can help you get your home if you'll follow our advise.  We know what it takes.  Call me at 720.220.5058 or Cheryl at 303.981.7339.

Think Twice Before Waiting for Lower Home Prices In Parker Colorado

As the housing market continues to change here in Parker Colorado, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.

A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports:

“U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”

And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:

So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn’t. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023. The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice.

Bottom Line

If you’re waiting to buy a home until prices come down, you may want to reconsider. Let’s connect to make sure you understand what’s happening in our local housing market.