If you’ve been watching the Denver real estate market, you know inventory has been tight, with fewer resale homes hitting the market. With current mortgage rates holding steady around 6.8-7%, many homeowners are holding onto their low-rate loans, choosing not to sell. This has led to a fresh trend: buyers are turning to new builds in Denver’s suburbs and surrounding areas. If you’re in the market, here’s why a new build might be the perfect option for you right now. 1. Resale Inventory is Scarce, But New Builds Are on the Rise With fewer resale homes available, buyers are looking at new builds to meet their needs. Builders are responding by expanding new construction in Denver’s suburbs, with options that range from entry-level homes to more spacious family-sized properties. Denver saw an increase in available new builds, especially in developing neighborhoods around Lakewood and Thornton, giving buyers more flexibility to choose features and layouts that fit their lifestyle​.   2. New Builds Offer Modern Features and Lower Maintenance A big perk of new builds? They’re ready for how we live today. Here’s what to expect: Contemporary Layouts and Energy Efficiency: Many new homes come with energy-efficient appliances, open-concept designs, and smart home systems built right in. This makes it easier to save on utility bills and live sustainably. Worry-Free Maintenance: Everything is brand new, which means minimal maintenance and fewer surprise repairs. Most new builds come with warranties that cover major systems and appliances for a few years, giving you peace of mind. Customized Options: Builders often allow some customization, so you can choose finishes and colors or even make adjustments to layouts, especially if you buy early in the construction phase. 3. Financing Incentives and Opportunities Builders are keen to attract buyers in a high-rate environment, so many are offering financing incentives like rate buydowns or closing cost assistance. With mortgage rates potentially dipping further, this can create an affordable pathway for buyers who might otherwise be priced out​. Here’s what to consider: Builder Discounts: Many builders work with preferred lenders who can offer lower rates or reduced fees. Don’t be shy—ask about any financing perks or discounts. Special Loan Programs for New Construction: Construction loans or loans tailored for new builds can offer unique advantages, especially if you’re planning to customize your home or if it’s still in development. 4. Locations Expanding in Denver’s Growing Suburbs New builds are increasingly available in Denver’s suburban areas like Aurora, Thornton, and even Lakewood, where larger lots and family-friendly amenities are more common. If you’re open to a bit of a commute, these areas offer affordable new builds at various price points—from budget-friendly to mid-range, meeting the demand from buyers looking to avoid the resale bidding wars and find more space​.   5. What to Know About the New Build Process Buying a new build comes with its own timeline and considerations. Here’s how to stay ahead: Choose an Agent Who Knows New Builds: Working with an agent who understands the ins and outs of new construction can help you navigate builder negotiations, secure incentives, and keep track of the process. Check the Builder’s Reputation: Not all builders are the same. Research their past projects, look at reviews, and talk to other buyers if you can. A reputable builder with a solid track record is essential. Stay Flexible with Timing: New builds aren’t always move-in ready, so be prepared for some variability. Builders may face supply chain issues or construction delays, so having a flexible move-in timeline will help avoid stress. Is a New Build Right for You? With Denver’s tight inventory and rising interest in new construction, a new build could be the best option to avoid the intense competition in the resale market. If you’re looking for a home tailored to today’s lifestyle, with the added bonus of lower maintenance and customization options, a new build might just be the perfect fit. Ready to explore your options? Let’s connect and take a look at Denver’s new communities to find the right home for you. With market insights and guidance on navigating new builds, I’m here to make your next move a success.

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What’s up, Denver? If you’re thinking about diving into the real estate market this fall, now’s the time to get serious. The market’s shifting, and we’ve got more inventory to choose from, prices leveling off, and interest rates that might (fingers crossed!) drop soon. So, before you let 2025 sneak up on you, here’s what you need to know about buying a home in the Denver area right now. Inventory is Up, and That’s a Good Thing If you’ve been frustrated with slim pickings in the past couple of years, good news: the number of available homes has jumped by more than 50% compared to last year. That means more options, fewer bidding wars, and maybe even the chance to snag a deal. More inventory means buyers have a little more breathing room. Sellers are starting to sweat a bit, which means they’re more willing to negotiate. You might even get them to throw in some perks like covering closing costs or fixing up the place. It’s all about making the right moves, and now’s the time to play smart. Prices Are Leveling Off No one’s saying Denver’s getting cheap—don’t get me wrong—but we’re seeing home prices start to stabilize. Detached homes are sitting around $650,000, give or take. Meanwhile, condos and townhomes have taken a bit of a hit, with prices dropping to about $396,000. The forecast for the end of the year? A 5% price drop. That’s not a massive discount, but if you’ve been holding off, it could be the opportunity you’ve been waiting for. Mortgage Rates: A Rollercoaster We Can’t Ignore Let’s talk rates. We’ve all been waiting for mortgage rates to chill out, and while they’re still hovering around 6.5%, there’s hope on the horizon. The Feds are hinting that rates could dip, and if that happens, you better believe more buyers are going to jump in. If you’re in a position to act now, locking in a deal before rates drop might save you from some stiff competition later on. Cautious Buyers, Flexible Sellers Here’s the deal: Buyers are being super cautious right now. They’re watching the market like hawks, only making offers when a house checks all the boxes. On the flip side, sellers know they’ve got to work a little harder to seal the deal. They’re throwing in concessions, which is awesome for you. Things like covering repair costs or knocking a few grand off the price are becoming more common. If you’re a buyer, this is prime time. You’ve got more negotiating power than you would have a year ago, and if you’re ready to make a move, you could land a solid deal. Why Fall 2024 is the Time to Move Here’s the bottom line, man: Fall 2024 is shaping up to be the perfect window for homebuyers in Denver. With more homes on the market, prices finally stabilizing, and the potential for lower interest rates, the stars are aligning for those ready to take action. Don’t sit on the sidelines—if you wait too long, you might miss out on the best deals before 2025 rolls in. Want to dive deeper into the Denver real estate market? Hit me up, and let’s get you on the path to finding your dream home before the market shifts again.

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The Colorado real estate market in 2024? Yeah, it’s a beast, no doubt about it. If you’re a first-time buyer or someone trying to balance soaring home prices with sky-high interest rates, you’re in for a ride. But don’t sweat it—finding your dream home isn’t impossible. You just need to play it smart. Here’s how to tackle the market and come out on top. Understanding the Current Market Landscape Let’s be real—affordability is a huge issue in Colorado right now. With median home prices in places like Denver and Boulder creeping up to the $611,202 mark in Denver and $1,015,000 in Boulder, it’s tough out there. And don’t even get me started on the interest rates. They’ve been a rollercoaster, and while they might stabilize later this year, they’re still not doing anyone any favors when it comes to monthly payments. But hey, it’s not all doom and gloom. The market is cooling a bit, so there’s room to make moves if you know where to look. 1. Expand Your Search Area First thing’s first—broaden your horizons. Denver’s awesome, but it’s expensive as hell. Consider checking out suburban and rural spots like Colorado Springs or Fort Collins. You’ll get more space, a lower price tag, and still be close enough to the action. Plus, with remote work sticking around, you’ve got the freedom to live where you want, not just where you have to. 2. Consider Fixer-Uppers or Older Homes If you’re cool with a little elbow grease, fixer-uppers are where it’s at. Sure, they need work, but you’ll save cash upfront and can customize the place to your liking. It’s a win-win, especially in a market where everyone’s gunning for those turnkey homes. Just make sure you budget for renovations, and don’t skimp on finding good contractors. You don’t want to be stuck with a money pit. 3. Get Pre-Approved and Shop Around for Mortgages Before you even start looking at homes, get pre-approved for a mortgage. This not only tells you what you can actually afford but also makes you look like a serious buyer. And don’t just go with the first mortgage offer—shop around. Even a slight difference in interest rates can save you a ton of money in the long run. If you’re not sure where to start, hit up a mortgage broker to help you out. 4. Take Advantage of First-Time Homebuyer Programs If this is your first rodeo, Colorado’s got your back. There are a ton of programs out there designed to help first-time buyers with down payments, lower interest rates, and more flexible loan terms. The Colorado Housing and Finance Authority (CHFA) is a good place to start. These programs can make a huge difference, so don’t sleep on them. 5. Stay Patient and Flexible Last but not least, patience is key. You might not find your dream home on day one, and you might have to compromise on a few things. But don’t lose hope. With the right strategy and a little bit of flexibility, you’ll find a place that checks most—if not all—of your boxes. And when you do, it’ll be worth the wait. Final Thoughts Yeah, the Colorado real estate market in 2024 is tough, but that doesn’t mean you have to settle. Expand your search, consider those fixer-uppers, and don’t forget about those first-time homebuyer programs. Stay patient, stay informed, and remember—I’ve got your back. Ready to find that dream home? Let’s make it happen. Call to Action: Ready to start your home search? Reach out to me, Adam Gillespie, and let’s tackle this market together. Whether you're a first-time buyer or looking to upgrade, I’ve got the expertise to help you find the perfect home. Contact me today!

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