Denver Real Estate Blog
Looking to get out and do some fun stuff this August? Check out these upcoming events:
Denver HaHo Market: August 5th from 7-11pm
“Denver Handmade Homemade will host a HAHO market on the first Friday of August. The Santa Art District will close down the entire strip for a big summer festival all about art and food. Expect all the galleries to be open and poppin’, with live music, food trucks, entertainment, and 90 vendors.” Learn more.
Art + Ale Brew Festival: August 12th from 6-11pm
“CU South Denver’s most popular event returns for its 13th year! Indulge in all-inclusive food and drink tastings at south Denver’s longest-running beer festival. Enjoy food and drinks for over 50 local craft breweries and restaurants, love music by That Eighties Band, play cornhole and other games, and make your own art to take with you!” Learn more and get tickets.
Hops in the Hangar: August 13th from 5-9pm
“Surround yourself with iconic aircraft, cool cars and icy brews at Denver’s most unique beer festival. Wings Over the Rockies Air & Space Museum is hosting the 3rd annual Hops in the Hangar on Saturday, August 13 from 5-9PM in Historic Lowry. Enjoy beer from over 20 local craft breweries, barbecue from Jim ‘N Nicks, and much more.” Learn more and get tickets.
Denver Flea: City Park: August 13th to 14th from 10am-6pm
“A contemporary marketplace showcasing makers and retailers who cultivate the Colorado lifestyle.” Learn more.
Sleep Tight Pajama Jog: August 20th
“Sleep Tight Colorado is excited to be hosting their 6th Annual 5K Pajama Jog in Denver's City Park. Support a great cause and appear in a costume for contest prizes! The 5K is professionally timed and participants may choose to run, jog, or walk. 100% of the proceeds goes toward buying sleeping bags for Colorado’s homeless.” Learn more and get registered.
National Parks Adventure 3D (Now - September 22)
"Narrated by Robert Redford, National Parks Adventure 3D celebrates the 100-year anniversary of America's national parks by taking viewers on an off-trail adventure through four of our treasured national parks: Yellowstone, Glacier, Yosemite and Arches. Watch it in IMAX at the Denver Muesum of Nature & Science." Learn details here.
Cherry Creek Arts Festival (July 2-4)
"This free, outdoor extravaganza - the city's signature cultural celebration of the visual, performing and culinary arts - gives more than 350,000 annual visitors the chance to meet and talk with international visual artists, enjoy a wide range of family-friendly fun and sample fine cuisine." Click here to learn more.
Liberty Run and Firecracker Kids Fun Run (July 4)
"Work off all the BBQ, ice cream and apple pie by running in the Liberty Run. This four-mile run around beautiful Washington Park is a July 4th tradition in The Mile High City and benefits veterans." Learn details here.
4th of July Weekend in Denver (July 1 - 4)
"There’s no better place to be over the 4th of July weekend than in Denver! You’ll be treated to festivals, concerts, pro sports - and, of course, all the brilliant fireworks displays you could ever wish for." Learn about the many events going on here.
City Park Jazz (Now - Aug 7)
"City Park Jazz heads into its 30th season with a great lineup of FREE Sunday concerts in the park. Spanning 10 weeks across June, July and August, the collection of local musicians in this year’s lineup crosses cultures, styles and genres in a way that reflects the musical and cultural diversity of Denver." View concert calendar here.
Urban Market (July 7, 21, and 30)
"The Urban Market is a great place to shop in Denver. At the market you will find an amazing array of local arts and crafts sold direct by the artist, clothing, jewelry, antiques, furniture, holistic services, unique treasures, Delicious food, and just about anything else you could want. Come out and have fun in the sun while supporting your local artists, businesses, and community at Denver's premier outdoor shopping paradise." Learn more here.
Underground Music Showcase (July 28 - 31)
"The Underground Music Showcase (The UMS) is Denver, Colorado's premier indie festival, now in its 16th year. The UMS is known not only for its focus on local talent and the local community (its a non-profit event and benefits the Denver Post Community Foundation) but also for the diversity and crazy high energy of the performances you can see throughout its tenure. This year's incarnation showcases over 400 local and national act performances, across 4 days, in nearly 20 venues." Learn event details here.
Colorado Dragon Boat Festival (July 30 - 31)
"The Colorado Dragon Boat Festival in Sloan's Lake Park has become a wildly popular cultural bonanza in Denver over the past 16 years. Denver's 5280 Magazine declared it 'one of Colorado's greatest festivals'." Learn festival details here.
Denver homeowners love their pets and love the outdoors. Part of the reason we live in Colorado, is that we all love the mountains and being in them. We also love our dogs. As we live among the mountains, camping becomes our link to nature, our reason for enduring the commute and a respite from the world. Our dogs should also partake of the clean air that is only to be found at the foot of the Rockies. Rather than just load Fido up in your Subaru, let’s prepare, so that our camping trip with our best furry friend is enjoyable for all of us. With a few easy steps, we can have a great time in nature, and also share that experience with our dogs.
Emergency Kits for Humans and Dogs
Let’s face it, even the most accomplished camper can encounter injuries or accidents. This is true for pets, as well. Bring a first aid kit. This needs to include gauze, tweezers and hydrogen peroxide. You can find a first aid pet kit online or you can check out the many Denver pet department stores. Remember to have the phone number of your veterinarian, just in case. Learn first aid tips for pet owners here.
A Groomed Dog is a Happy Dog
It may be easy to forget, amidst the tents and sleeping bags, but a pet owner needs to remember the dog brush amid the charcoal briquettes and toilet paper. A dog’s fur can be easily matted or tangled in the tall grass or humidity you can encounter when you are camping. This is especially true if your best friend is long-haired. This is compounded by the stickers and other things that can be caught in her fur. If you brush your dog’s hair throughout your hiking/camping excursion, it will help her to keep her coif under control.
Last, but not least, pack collapsible food bowls for man’s best friend. Packing food and water is a no-brainer, but many campers forget about the bowls. You definitely want to choose a collapsible bowl, as camping relies heavily on economizing space, and can easily fit in a back pack. They are extremely easy to clean and are available in most pet stores, and even retailers. Keeping Fido hydrated will be crucial to a fulfilling camping excursion. Check out collapsible bowls and more at Denver’s upcoming Pet Expo.
Okay Champ, it’s Time to Head to the Mountains
Denver citizens are active, and we live at the foothills of the Rockies for a reason. As a homeowner in Denver, you deserve your weekends in the mountains. You also deserve to share them with your best friend. Planning ahead and taking some simple steps can make the difference between a wonderful experience for the whole family (fur babies included) and a disaster in the middle of the wilderness. Denver citizens are among the most intelligent and well-educated in the country. Surely, we can take a few precautionary steps to camp in the most beautiful mountains in the United Sates with our pets.
Bubble or No Bubble? The last seven years have seen a surge in the metro Denver real estate market as record numbers of buyers look for homes, which in turn has caused prices to jump. The strength in the market has been so pronounced that people are beginning to ask whether we’re setting ourselves up for another bubble. Good question. While no one can ever predict the future with certainty, I see no evidence that we’re heading for a dramatic downturn in the real estate market any time soon. Here’s why:
- Even with the continued increase in metro Denver home prices (up another 8 percent in the past 12 months) the average inflation adjusted PITI (Principle, Interest, Taxes, and Insurance) payment made in metro Denver is actually BELOW our 35-year average. This means that while prices have steadily risen, buyers are still able to afford their monthly payments, providing plenty of room for continued home price increases.
- The number of transactions relative to the population of metro Denver is just about at the 25-year average. At the peak of the bubble in 2006 the number of home sales was about 20 percent above the historical average. When we see the number of closed transactions well above our historical average that’s an indication of an overheated market, as it was in 2006. The number of closed home sales is actually DOWN 12 percent in the past year due to the low inventory. No sign of a bubble here.
- In 2006, many of the deals were closed with low or no documentation mortgages ("liar loans" or "no doc loans"). Today, mortgage underwriting standards are among the toughest they’ve been in decades. This prevents unqualified buyers from purchasing property, which mitigates the chance of the market overheating (fewer buyers means fewer purchases means less chance of the market frothing into bubble territory like it did in the past).
- Because of relatively high home affordability it’s a lot cheaper to buy than rent in our market. This would not be true in a bubble. For housing price affordability to return to the average level that we saw in the years between 2000 and 2004 either home prices would have to increase an additional 35 percent or interest rates rise to 6.6 percent. Neither is going to happen any time soon.
- The imbalance between buyers and sellers we’ve seen recently in our housing market (too many buyers/not enough homes for sale) is due to a lack of inventory, not illogical/unrealistic/unsustainable demand from buyers. "Much of the price increases we are seeing are the result of rising demand among investors and homebuyers for a still-limited supply of homes for sale," said Anand Nallathambi, president and CEO of CoreLogic. This imbalance is a logical correction from years past when we had too FEW buyers in the market. This is how markets are supposed to work, always regressing to the mean over time.
- Rising mortgage rates will help to temper the possibility of a bubble as well (they are still near 50-year lows but are expected to rise someday). "History shows that a rapid rise in interest rates tends to have little correlation with home prices. Rather, rising rates are more likely to contribute to a decrease in home purchase volume," wrote Mark Palim in a Fannie Mae commentary. So the positive side of a rise in mortgage rates is that it will reduce the number of buyers and therefore lower the chance the market will rise out of control and end up collapsing in a bubble.
As you see from our monthly market snapshot, the inventory of metro Denver homes for sale continues to fall; it’s down another 5 percent from a year ago. Since the inventory is still extremely low (about 5,520 homes on the market where about 18,000 is a balanced market) I am all but certain the demand will still exceed the supply for the next several years and prices will continue to rise for the foreseeable future. No bubble on the horizon yet. Stay tuned!
Denver Chalk Art Festival (June 4 -5)
"The art you'll encounter during the festival isn't in galleries - it's on the pavement! The event features more than 150 professional and amateur artists who will spend hours on their hands and knees over the course of two days transforming Larimer Square into a bright and colorful street museum using vivid pastel chalks." Learn event details here.
Denver Botanic Gardens Concert Series (June - Sept)
"Situated in one of the nation's top botanic gardens, these concerts offer an unrivaled ambience, pairing a breathtaking setting with music from some of the world's most sought-after acts." Click here to learn more.
National Get Outdoors Day (June 11)
"Getting involved in Get Outdoors Day will mean you are part of a nationwide effort to reconnect American youth with outdoor activities and healthy lifestyles. Visit our interactive event where you can fish, bike, jump, garden, climb, paint, build, paddle, learn, dance, jump, eat, explore, and play! This event is accessible. We'll also host multiple stage activities and live music throughout the day alongside Denver Bronco Cheerleaders and PBS' Nature Cat." Visit event website here.
Taste of the Broncos (June 14)
"Taste of the Broncos is a casual, outdoor, tailgate style, fun-filled party at Sports Authority Field at Mile High! And, it's all for a great cause! Walking restaurant tour featuring some of Denver's most highly regarded chefs and their specialties, including Taste of the NFL's and Denver's own Troy Guard of TAG Restaurant Group. Live entertainment, including blue grass bands performing on the Noble Energy Sports Legends Mall with post event entertainment. Denver Broncos players, cheerleaders, alumni and Miles appearing as 'sous chefs'." Buy tickets here.
Do at the Zoo (June 16)
"Come celebrate all the amazing things Do At The Zoo has helped Denver Zoo accomplish over the past 26 years. Graze on sample dishes from over 60 of the city's finest restaurants and belly up to the watering hole for unlimited drinks featuring the region's best beer, wine and cocktails, all while enjoying our community's top live entertainment." Buy tickets here.
Denver Comic Con (June 17 - 19)
"Denver Comic Con is a three-day fan convention featuring celebrities and the best of popular television shows, movies, Japanese animation, cosplay, toys, gaming, sci-fi/fantasy, and of course, comic books." Learn more here.
Westword Music Showcase (June 25 )
"The Westword Music Showcase is the largest music festival celebrating the Denver scene. It runs from noon to 10 p.m. on June 25, and tickets are now on sale." Learn event details here.
Colorado Markets (Dates Vary)
"Colorado Fresh Markets presents a high quality group of Colorado growers and unique local gourmet food vendors representing the best of the Rocky Mountain region. Enjoy chef demonstrations, kitchen and garden products, gardening tips from Master Gardeners, live music and more in a fun and festive open-air shopping environment." Learn locations here.
The question I’m asked all the time by friends, colleagues and clients who are still renting is whether it’s too late to buy a home. "Are we heading for a big downturn?" and "Are we too deep in the market cycle to buy?" they wonder. For those of you who read my newsletter and know me well the following will sound familiar but it bears repeating: timing the real estate market perfectly is extremely difficult (maybe even impossible) and those who try usually fail. So don’t try to time the market. Instead, look at factors like the ones below to see if home ownership is right for you.
Consider Your Timing
You should buy a home when you feel it’s the right time in your life to do so. Don’t try to time the market, instead time your life. Are you getting married? Sick of paying skyrocketing rents? Looking for a bigger place for you and your family? Want your own backyard for the kids to play in? Want to be part of a neighborhood community? Plan on staying in one place for a number of years? Want to build long-term wealth? These are the types of questions you should ask yourself when considering whether you want to own a home. To the extent you say yes, home ownership might be the answer for you.
One important stat to keep in mind is that the average rental household in the U.S. has a total net worth of only $5,800. In contrast, the average homeowner has a net worth of $199,500 — that’s 34 times those who rent! There’s no doubt that over the long term, home ownership is the tried and true path to wealth accumulation and financial security. (So is owning rental property, by the way. Call me if you’d like to learn more about that as well.)
Consider Interest Rates
Interest rates remain at record lows but this can’t last forever. No one knows when they’re going to rise (remember, you can’t time the market!), but rise they will at some point in the future. Though home prices have gone up the past several years, low interest rates continue to make homes relatively affordable - especially compared to renting. Once interest rates do rise the window of home ownership affordability will truly begin to close for a lot of potential buyers. They will be sorry they didn’t act when interest rates were at 50-year lows.
To illustrate the numbers, assume you are purchasing a $210,000 condo with a 5 percent down payment. The Principle + Interest payment at 4 percent interest would be $952 per month. Just a 1 percent interest rate increase to 5 percent would result in a payment of $1,070 per month for a total increase of $128/month and $1,416/year. Now assume that rates tick up to 6 percent. That increase would result in a 21 percent increase in payments from $952 to $1,196. Where you really see the effect of these increases is when you hold the property for the full 30 years. On a $210,000, 30-year fixed-rate mortgage that increases from 4 to 5 percent, the borrower who obtains the 5 percent loan would pay an additional $42,772 in extra interest as opposed to the borrower who paid just 4 percent interest. That’s 21.4 percent of the total loan amount! This is why a lot of folks who don’t purchase a home while interest rates are near record lows are going to regret it down the road.
Consider Long Term Benefits
The main reason the average home owner has so much more personal wealth than the average condo owner is that, over time, homes appreciate in value. Over the past 45 years, homes in metro Denver appreciated 6.3 percent per year. If you buy a $200,000 home, you can expect over the long term its value to rise about 6 percent every year. This means you’d make $12,000 in appreciation the first year, an additional $12,720 the second year, another $13,483 in the third year, and on and on. An important fact to note is that in only 4 of the past 45 years did prices actually fall in metro Denver. So if you want to build wealth, your best bet may be to take advantage of these numbers and buy a home for the long term. I can help you do this. Call me and let me show you how.
As realtors in the Denver area, we have made many friends. It is not uncommon to have past clients reach out, share updates, and become part of our lives. Sometimes the stories are wonderful and uplifting, but other times they can be sad. As we approach spring I wanted to highlight an item that often gets overlooked in our cleaning lists: the dryer vents. While most of us hear that we need to clean out the dryer lint, rarely do we actually do it. This can be a very dangerous oversight.
Your Family is the Most Important
In 2010, the National Fire Prevention Agency announced that nearly 16,800 dryer and washing machine fires caused 51 deaths, over 380 injuries and approximately $236,000,000 in property damages. Yes these statistics are almost six years old, but when is the last time you cleaned, let alone checked, your dryer vents? Lint is one of the most flammable items in your house and combined with our low humidity environment it is literally a volatile situation.
What You Need to Do
First and foremost, ditch the white plastic dryer vents and replace with metallic vent pipes with UL listing. While the white plastic is easy to install and control, it allows more buildup and restricts airflow. In addition, if there is a fire the plastic starts on fire as well, spreading it more quickly. When replacing the pipe to the wall vent, make sure you don’t use extra pipe. The shortest pipe is the safest.
Clean your vents and dryer at least once a year and spring is a great time. During the fall and winter we tend to do larger and more loads of laundry. This creates more lint, especially from heavier sweaters, ski gear and cold weather gear. Remove the vent pipe and clean it out. You should also reach into the hole in the back of your dryer and clean or vacuum it out as well. Make sure you unplug the dryer first.
Go Outside to Protect the Inside
You will also want to go outside and check to make sure the dryer is venting properly. The vent flap should be opening wide when the dryer is in operation and there should not be a lint build up. If there is a lint build up, you may want to hire a professional to clean the vents or do it yourself. Never use a dryer without a lint trap, and make sure it is cleaned after every load. Also wash the lint trap in soapy water at least once a month to reduce fabric softener build up.
So Now I have ALL this Lint
We have you covered. Stuff the lint in used toilet paper rolls and put inside a plastic storage bag. Then bring it when you go camping. If you haven’t already figured it out, it is a great fire starter because it burns hot and lights easily and is quicker than finding twigs. You can also make dryer link clay - see how here. This may help get the kids involved in the cleaning process. In fact, make some dryer lint clay creations and email them to us and we may use them in a future post. You could be famous!
We Love our Clients
I will admit, cleaning out a dryer vent pipe is not my idea of fun, but when I look at my children I know that it is important. We want you and your entire family to be safe and I hope this post will help you understand the value of this little chore. An added benefit is if you keep track of your cleaning schedule, it can be an additional positive attribute added to your home when it’s time to sell. So be safe, get it done, and keep on enjoying your Denver home.
Springtime in Denver means beautiful days, melting snow, and rain. It also means mud, especially if you love getting back on the trails that have been covered during winter or have begun backyard gardening. Whether you are on city paths, mountain treks, or the backyard farm — 'tis the season for mud, and most often your carpet becomes the victim.
It’s Going to Happen
First and foremost I urge you to remain calm. Someone, your spouse, kids or even you, will walk on the carpet with muddied shoes or feet. It is inevitable. Even when you think you have all the variables covered and you are peacefully drinking your morning coffee, you may look up in horror to see your dog trudge across the room leaving telltale tracks of her morning explorations. Preparation is essential, and if you are ready, you can resolve any issue.
Prevention is Key
Most of our Denver homes do not have the traditional mud room, but we can create temporary substitutes for this time of year. Designate an area where dirty shoes are to be immediately removed. Highly organized families will have a back-door only policy during this time of year where you will find old carpet squares, plastic or rubber mats, or even large bussing tubs like you see in restaurants.
Muddied shoes are required to be placed in the tub or on the mats before entering the house. You will also want to have towels and perhaps a clothes basket handy just in case things have gotten completely out of hand. Make sure to wipe your pet’s feet before they come in as well. The extra time and possible growl is well worth the effort.
What to Do When Preventative Measures Fail
Do not Scrub! Our first instinct is to rush over with a rag and scrub the mess right out. Unfortunately, this only serves to push the mud deeper into the fibers and in most cases spread the stain. In fact, the best thing to do in most cases is to let the mud dry completely before you do anything. After the mud is dry gently brush up the loose dirt or vacuum depending on the size of the spot.
If the carpet is stained, there are plenty of commercial carpet cleaners available at your local store. I recommend testing these in an inconspicuous area to make sure they don’t bleach or discolor the carpet. I have also found that a tablespoon of liquid dishwashing soap in 2 cups of warm water will do the trick, especially on mud. Use a clean cloth, preferably white, and blot at the stain. Again, resist the temptation to scrub. Keep blotting until all the liquid is absorbed and the stain is gone. White cloths are nice because you can see if you are picking up dirt. Don’t overdo it. Sometimes it takes a few attempts to get it all out especially on light colored carpets. Here’s a good YouTube video to help:
Don’t let a little mud keep you from having fun. Homes are where we share our adventures and stories from great days outside in and around Denver. If you’re thinking of selling your home or are already in the process, feel free to give us a call for some great tips on how to keep your white carpet clean during showings. In the meantime, if your family and pets are as active as mine, perhaps set up a yearly professional carpet cleaning budget to be utilized at the end of every spring. Now get out, have fun, and enjoy Denver!
Cinco de Mayo (May 7 - 8)
"A weekend filled with food, fun and culture, Denver's Cinco de Mayo 'Celebrate Culture' Festival puts the spotlight on The Mile High City's vibrant Latino population. With more than 400,000 attendees expected, it's one of Denver's most fun and family-friendly events." Learn event details here.
Furry Scurry (May 7)
"Your registration and participation in the Furry Scurry help the Dumb Friends League care for more than 20,000 homeless pets each year. Come celebrate the wonderful pets in your life and help those who are still waiting to find their forever family." Click here to learn more.
Mother's Day 5k and Brunch (May 8)
"Each registration includes a gourmet brunch from Goddess Catering in the park following the race for all participants. Again this year, we'll have race-time childcare, the annual kids race, a fabulous post-race expo, awesome prizes and much more that the whole family can enjoy." Visit event website here.
Colorado Bike Festival (May 13 - 14)
"The two day festival and consumer show will also include BMX flatland and aerial stunts, a play zone, adult big wheel races, learn to ride clinics, strider course, sprint competitions, demo area, Giro d'Italia viewing party, antique bicycle display, bands, beer garden and food trucks!" Learn more here.
Five Points Jazz Festival (May 21)
"The free festival celebrates the history of Denver's Five Points neighborhood. Once known as the Harlem of the West, Five Points was home to several jazz clubs which played host to many of jazz music's legends such as Miles Davis, Thelonious Monk and many more. Come out to Five Points to enjoy this free festival of music, food, culture and fun." Learn more here.
Once (May 24 - 29)
"Featuring an ensemble of actor/musicians who play their own instruments onstage, once tells the tale of a Dublin street musician who's about to give up on his dream when a beautiful young woman takes a sudden interest in his haunting love songs." Learn event details here.
Denver Day of Rock (May 28)
"Denver Day of Rock is a one-day music festival benefiting the work of Amp the Cause. This free event features five stages of live music along Denver's 16th Street Mall on Memorial Day weekend." Check out the 2016 restaurant list here.
Memorial Day Weekend in Denver (May 28 - 30)
Are you Ready to celebrate? When Memorial Day weekend rolls around in Denver, we really go big. Enjoy Memorial Day events and festivals (many are free), pro sports, live music, fresh museum exhibits, amazing theater and much more!" Learn about Memorial Day events here.
Five Essential Things To Know About the 2016 Summer Home Buying Market
This year has kicked off with an array of experts trumpeting the Denver housing market's strength and resilience. Inventory is at record lows, home prices continue to rise, and foreclosure activity has ebbed to lows not seen since before the 2007 downturn. Spring and summer is the time for selling houses. The months of April, May, June, and July typically account for more than 40 percent of all housing transactions annually, thanks in large part to good weather.
1. Inventory shortages: The number of available homes in metro Denver has plunged to record lows, thanks to both an abnormally small supply of existing homes for sale and a dearth of new construction not keeping pace with the current demand. Today there are only about 5,000 properties on the market. During the downturn there were over 30,000 on the market! The tight inventory makes it a great time to sell a home and a challenging time to be a buyer. With my experience and expertise I can help you with either. Call me and let me show you how.
2. Increased Competition: In addition to a dwindling supply of available homes, the number of buyers has surged. And not just traditional buyers - investors have comprised a sizeable chunk of the buyer pool since the downturn and continue to do so. Real estate investors are responsible for about 25 percent of the existing home sales each month. It’s not uncommon these days to see streams of buyers along with their agents walking into homes as we are showing property.
You, the prospective buyer, need to be prepared to move fast if you find a property you'd like to buy. "Buyers need to be patient because many will be outbid by others and might have to bid on multiple homes," cautions Jed Kolko, chief economist of Trulia. Yes, indeed.
3. Cash is Still King: Given the steep competition, all-cash buyers who can close a deal relatively quickly offer great incentive to sellers. "Cash will still be king if there are multiple bids because from a seller's view, they want a deal with fewer hiccups," says Lawrence Yun, chief economist at the National Association of Realtors. My sellers are surprised to hear that about 30 percent of home sales each month are all-cash purchases. For the 70 percent of buyers who purchase with loans, strong lender letters issued by excellent loan officers are critical.
4. The Good News: Lending Tree chief executive Doug Leboda says in light of the recently unveiled new home-lending standards, lenders are slowly starting to make it slightly easier to get approved. Talk to a couple of lenders, they’ll tell you things have improved over the past few years on the loan front. Take the time to find a great lender -- it’ll make a big difference in your ability to purchase a property.
5. More Good News: We are seeing a definite correction in the appraisal business. A few years ago appraisers were consistently under-valuing properties, reacting to the over-conservative nature of their shell-shocked underwriter patrons. Today we are seeing the vast majority of appraisals coming in at value, killing far fewer deals than in the past.