BOAT’s Buyers Continue To Make Money
When Buying Their Homes

“You Should Make Your Money When You Buy”, states Patrick Bright a new business friend of ours from Sydney, Australia. Patrick is a very successful entrepreneur and real estate professional who works as a specialist property buyer’s agent (called “true exclusive buyer’s agent” in our United States marketplace).

In Patrick’s Book, The Insider’s Guide to Buying Real Estate, Patrick explains that home buyers should never pay “retail price” for the home they are purchasing. We not only agree with Patrick’s comments but we practice it every day.

Our Buyers Only America Team (BOAT) is trained and very skilled at not being too concerned with the “asking price” of any property. On behalf of our buyer clients, we research how long the house has been on the market, we check the history of recent “asking prices” for this property, we investigate the seller’s motives, we do comparable market studies on the neighborhood, and we negotiate aggressively on our buyer client’s behalf.

“No one makes money for their home buyers like the Buyers Only America agents do”, declares Eric Peterson, Co-President and Owner of Ascent Funding. “Ascent Funding works with many real estate companies and agents in the Denver area but no one gets so many purchase prices so much below the actual appraisal values as does Buyers Only America Realty (BOA). And on top of this significant ‘net gain’ to the home buyer, BOA regularly obtains added cash concessions from the Sellers. The combination of these items makes a lot of money for the BOA home buyers before those buyers move into their homes.”

May 2006 : Denver Colorado Metro Home Prices Update

WARNING Note. monthly figures often have LARGE fluctuations due to the “mix” of SFR homes and condos that are purchased during that particular month. Typically you should not rely on monthly changes until you have at least 6 consecutive months for comparisons. And it is the trend lines that develop in future months that is of value in determining where prices might be going in the near future.

Median Price. This dollar figure is found by lining up each individual purchase price for all the SFR homes and condos purchased that month and then finding the exact middle of that line. Example: if 4,347 SFR homes were purchased this month, the middle-point (“median”) is the price of the 2,174 th SFR home in that line of SFR homes. DATA researchers often find this number more reliable than “average” over a long period of time, so we are emphasizing this price in this period’s Report.

SFR. A Single Family Residence (or single, detached home structure).

CONDO. A single unit whether condominium or townhome unit.

 

Dec ’03

Dec ’04

Jan 06

Feb 06

Mar 06

SFR Median:

$230,000

$236,000

$245,000

$238,500

$247,500

CONDO Med:

$155,500

$157,000

$155,000

$149,500

Est. $157,500

BOA Realty Research Department’s Comments:

Denver Metrolist MLS’s Hide the DATA! The Denver Metro MLS’s control our market’s FOR SALE, SOLD/PURCHASED, and other related DATA. Their method of DATA-keeping and control does not make it easy for anyone, especially consumers, to obtain the DATA needed to give you meaningful DATA with which to analyze and make smart projections of the near future. Our BOA Research Department is able to analyze enough DATA however and make it work for YOU - - the real estate BUYERS.

BE Careful. Do not rely on the newspaper Articles about our prices since the very few individuals who are interviewed by our media usually spin the DATA to tell you, the consumer, that “ NOW is the best time for you to buy real estate because……”.

When Is Best Time To Buy Real Estate? The ONLY best time for YOU to buy real estate is when the known benefits to YOU of buying exceed the known benefits to YOU of not buying real estate.

Denver Market Analysis from BOA Realty. 3-4% annual appreciation rate is occurring this year for both the SFR Home market and our Condo. BUT the months of April through September usually have the fastest pace of appreciation since this is the “Buying Season” in our area; many more properties come on the market FOR SALE and many of these are purchased. Research the DATA by individual neighborhoods is a must if you are to be a “Smart Buyer”. Choose a REALTOR or non-REALTOR who is YOUR Fiduciary Agent who will perform the thorough research and full analysis on each neighborhood that interests YOU.

Denver Metro’s economy is doing fairly well; higher priced homes continue to sell well even amidst some softening in the price range ($600,000 and above). Our employment picture is quite good; our inventory of properties FOR SALE is high; foreclosures are pretty high but the best of these properties are snatched up by the attorneys and few real estate agents and friends of the various lenders who are bringing about these foreclosures. So don’t have your sites very high on buying a “great deal from the foreclosure pool that finally gets onto our MetroList MLS computer; and the different loan programs still exist that work in YOUR favor if you have a professional loan-shopper working for YOU. Residential rental properties are still not a good investment idea here because our prices are too high, the rents are too low, and our appreciation rates are too low also. However, there are many market conditions, much DATA, and other economic happenings within our marketplace that can work in YOUR FAVOR - - the Buyer, if now is the right, best time for YOU to buy a home.

FOR future website updates of DATA…2006…b on 5.10.06.

Average Price. This dollar figure is the result of dividing the total number of SFR homes and condos into the total purchase dollars of all those SFR homes and condos purchased that month. It is often distorted by a larger than normal number of higher-priced (or lower-priced) SFR homes being purchased in a given month. Analyze many months’ DATA if you are going to make projections of near future price movements