RE/MAX Alliance agent Shelly Slocum answers questions regarding the current real estate market and what’s happening specifically in the Parker, CO area. Shelly has been in real estate with RE/MAX for over nine years. She is a Denver native and has lived in Parker for 15 years. She was recently recognized as a “5 Star Real Estate Agent” by 5280 Magazine.
What are today’s consumers most concerned with when it comes to buying and selling real estate? Timing is on everyone’s mind. Is this the right time to buy or sell? Has the market hit bottom? Buyers want to feel like they are making a “smart” investment and sellers want to minimize their loss.
What are some positive signs in the Parker real estate market? The Parker real estate market was up in sales activity at the end of September/2010 as compared to the end of September/2009 by approximately 1%. While not a significant increase, it is a positive increase nonetheless which is good news!
What are the current market trends in Parker? The lower end value (below $250,000) to mid range value ($250,000-$500,000) both saw a decrease in sales in the 3rd quarter largely due to the Homebuyer Tax Credit ending. It will be interesting to see how the 4th quarter ends up in those price ranges! The higher end values ($500,000-$1,000,000 and over $1,000,000) have seen a very small increase. Sales have been up each quarter (1st qtr - 27 solds, 2nd qtr - 32 solds and 3rd qtr - 38 solds), which is a positive trend!
Where are Parker homebuyers coming from? Parker is currently seeing some move up buyers, however, many of the buyers I am working with now are moving in from out of state – some empty nesters moving to be closer to family but most are following jobs here, which is great news for Colorado!
Why is now a great time to buy a home? All of the market factors are aligned to make this the perfect time to buy! Interest rates are at record lows, inventory is high so there is a large selection, and home prices are down from where they were a couple of years ago. I can’t imagine a better combination of reasons to buy real estate. Many people took advantage of the Homebuyer Tax Credit, but what many don’t understand is that with the extremely low interest rates, buyers will save far more over the life of the loan than the tax credit offered! Interest rates and prices will inevitably go up so, truly, now is the time to buy!
What do you think is a realistic outcome for 2011? I believe our market will see a slow yet positive improvement this coming year.
“Colorado has been and will continue to be a wonderful place to live and work. I encourage people, if they are thinking about buying/selling or investing in real estate; there is no better time than the present,” said Slocum. “I don’t want people to look back and wish they had taken advantage of these great rates and prices!”
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