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Important Denver Real Estate Market Update

I wanted to share a few key items about the Denver Real Estate Market with you, regardless of whether you’re thinking of moving or not.

  1. Real Estate is Exempt from Stay-at-Home Directive — Real Estate has been deemed to be essential and showings on properties will continue, assuming proper precautions are being taken. Here’s the link to the story… https://www.dmarealtors.com/message-dmar-real-estate-exempt-stay-home-directive
  2. Homeowners that have lost income due to COVID-19 may be eligible to skip their mortgage payments, up to a year. However, you can’t just stop making payments. Please contact your mortgage servicer for details. Here’s the link to the story… https://www.npr.org/2020/03/19/818343720/homeowners-hurt-financially-by-the-coronavirus-may-get-a-mortgage-break
  3. Title companies are still performing closings, but taking several new steps to keep everyone safe. Each title company is handling things differently, so if you have a closing and you’re concerned, please contact the title closer and talk to them.
  4. Interest rates are likely not going to go any lower. Refinancing in the upper 2% to low 3% range is possible, depending on the day. Do NOT try to time this. If you’re thinking about refinancing or buying, you can reach out to one of my mortgage lenders here… http://drewshometeam.com/financial/
  5. There are many stories of sellers receiving multiple offers within the last week. Generally, these are homes priced under $500k, which is the hottest price point, but I’ve heard of higher priced listings also being bid up. The volume of showings, new listings, and closings are in line with last year, so we’re not seeing much of a slow down, if any.

If you’re thinking about making a move, let me know and I’ll be happy to help you.