The Denver Real Estate Broker Blog

Why hasn't COVID 19 slowed the Denver Real Estate Market?

Why is it so hard to buy a house

With unemployment sitting at around 10.5% in Colorado right now, COVID-19 spiking in many places across the United States and the national news fixated on a stagnant economy, why is it so difficult to buy a house in Denver right now?

You may be asking yourself this very question. All economic indicators should have buyers pausing purchase decisions. Uncertainty about the future has traditionally caused real estate markets to slow down. But this time is different. Why is that?

I have a few ideas on what might be fueling the demand for real estate in the Denver market right now.

First of all, It is extremely cheap to borrow money. Interest rates sit at 3.14% for a 30-year and 2.66% for a 15-year fixed-rate mortgage. Cheap money translates to more purchasing power. More purchase power, coupled with a home value which is likely the highest its ever been, have most homeowners considering their options. 

Second, I feel the COVID-19 has most people evaluating their living situation. With more time being spent at home, it's natural to ponder what it would be like to have a larger yard, a second office, or no more building elevator. 

A third reason why COVID-19 hasn't slowed the Denver Real Estate Market is the lack of inventory. I feel like a broken record, with the needle stuck repeating a familiar phrase but the numbers continue to support this fact. 

Denver Single Family Inventory...

Add Value To Your Home With These 9 DIY Improvements

Add home value

Add Value To Your Home With These 9 DIY Improvements

Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home.

The best part is, once you’ve secured the materials, most of these renovations can be completed over the course of a weekend. And they don’t require a lot of specialized skills or experience. So grab your toolbox, then get ready to boost your home’s appeal AND investment potential!

1. Spruce Up Your Landscaping

Landscaping improvements can increase a home’s value by 10-12%.1 But which outdoor features do buyers care about most? According to a survey of Realtors, a healthy lawn is at the top of their list. If your lawn is lacking, overseeding or laying new sod can be a worthwhile investment—with an expected return of 417% and 143% respectively.1

Planting flowers is another great way to enhance your home’s curb appeal. And if you choose a perennial variety, your blooms should return year after year. For an even longer-term impact, consider planting a tree. According to the Council of Tree and Landscape Appraisers, a mature tree can add up to $10,000 to the value of your home.2

2. Clean The Exterior

When it comes to making your house shine, a sparkling facade can be just as important as a clean interior. Real estate professionals estimate that washing the outside of a house can add as much as $15,000...