Dear Friends and Neighbors,
So far June’s weather is summer weather, with hot temperatures and thunderstorms in the late afternoon. The flowers in gardens around Denver are so lovely – reaching the “peak” season for well landscaped yards. It’s a pleasure to walk around the neighborhoods right now and see the blossoms.
However, when the weather becomes hot and sunny, the market starts to slow down a bit. When summer is upon us, folks are going on vacation, camping or biking and leaving the hot Denver weather for cooler mountain climates on weekends. Attention of potential buyers is drawn away from house hunting. I’ve always called the summer market place the “summer doldrums”.
Sellers: Don’t despair, there is still a serious lack of inventory, of home, condos and town homes for sale which will continue to result in multiple offers and bidding wars for well priced homes. (Note the “well priced” part as overpriced homes will be overlooked this time of year). The difference between spring and summer is this: A seller may receive 10 offers on a great home in the spring and only 2-3 in the summer! Still a sellers market, no question, but lacking the urgency of the springtime.
Please read Carolyn Carnie’s article in this month’s Focus about the appeal of VA loans. For anyone eligible, it’s a very sweet deal. Rates on VA loans are lower than conventional loans and some lenders offer cash back to the borrower when they close. Check with Carolyn for more details if you qualify – for purchase or refinancing.
Enjoy every minute of our wonderful summer weather.