August 2017 Newsletter
Dear Brixton Friends,
It has been an epic summer with many adventures in the great outdoors including camping, fishing, hiking, kite flying and catching bugs. Eva and Ellie are at their best and the happiest when they’re outside enjoying the sunshine. The girls also just started 1st Grade and are loving being back in school. Ellie is our little artist and puzzle solver. Eva is our athlete and soccer star. They are both such fun kids really starting to show different personalities and even with the occasional fight, they are always best friends.
At Brixton and TK Morrison, we are in the thick of building, selling, and showing our properties at Bachman Farm, Cobalt Row and Sunnyside12. TK Morrison’s traditional style homes continue to be a popular choice among people and families wanting to build.
We would love to hear from you and how you’re doing. As always we will always be available for you if you have any questions about the marketplace, know anyone looking for a home, or looking to buy and sell yourself. And we hope to see you at our upcoming Wine Tasting Event, more details coming soon!
All the best,
Jenn and Brian
Brian’s Perspective
Recent Changes to Financing Worth Knowing About.
Since the overwhelming majority of buyers need to obtain financing to buy a home, any changes in the lending marketplace can have an impact on home values. Last month, Fannie Mae announced two new changes that could affect home values, especially in Denver. If you or someone you know is wondering how you can afford a new home, these two changes could have an impact.
1. The debt to income (DTI) ratio has been raised from a maximum of 45% up to 50%. Why does the increased debt to income ratio matter if you are buying or selling a home? For buyers with an average household income in Denver of $71,146, they will now be able to get a loan for about $56k more than they previously could at a 4% interest rate. This increases affordability, which could increase sales prices.
2. Lenders can now use a contract offer of employment to underwrite a buyer rather than the buyer having to start their job to get a loan. This could allow for people transferring here with new jobs the ability to buy when they move here rather than renting at first.
These are two big changes in the lending world. Rather than moving towards more restrictive financing, they are becoming more lenient. This is nothing like the old “No income No asset verification loans of the past, but it is still worth keeping an eye on what is happening in the mortgage loan industry. Contact us here anytime you have a question or call me at 303-359-6859 to learn more.
Market Watch
Second showings are back!
The real estate market has been plateauing over the last year and it is feeling healthier than ever, the craze of high prices and possible multiple offers is starting to slow and buyers are actually getting an option to see a home for second time before they put an offer in. We prefer a market that is less tumultuous and more steady and we predict it maintaining a steady pace in 2018.
Strong Seller’s Market
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in Market Action Index (MAI), we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes it’s climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Brixton Buzz
Christa is now at HomeSmart
In June of this year, we decided it was time for Christa to spread her wings and leave the Brixton nest. Christa was a valuable partner and contributor to the success at Brixton during her time with our team. She is now at HomeSmart Cherry Creek. We wish her the best in her life and career!
She can be reached at christa.smith@homesmartcherrycreek.com
or by phone at 303-917-5265
Jenn and Ryan team up on luxury listings!
With over 20 years of combined real estate experience, Jenn Morrison and Ryan Barrett are combining forces to offer superior service and cutting edge marketing for the luxe market in Denver. Both Ryan and Jenn have focused their careers in development and sales of higher priced homes and newer homes in the market. Together they will expand Brixton!
Ash & Eben
“I can’t say enough good things about our experience working with Brixton. In 2014, Jenn and Christa worked tirelessly to find us a home that we both loved and was also firmly within our budget. In fact, our home was appraised above our purchase price! It was such a relief to have a team so dialed into what were our must-haves… Because of the prudent purchase we made two years prior, we were able to walk away with a healthy profit even after such a short time as homeowners… We started our new family adventure on solid footing, and we have Brixton to thank for these major life milestones.”
See their full testimonial here.
Alex & Kim
“Ryan, Jenn, and Christa at Brixton Real Estate were all great to work with. Ryan and his team went above and beyond to help us find a house in the price point that we were comfortable with. We trusted him to give us the right advice when it came to neighborhoods and what to offer. His multiple years of experience in the Denver market showed, and even the lender commented on how great it was to work with him. He cares a lot about his clients and their needs. I cannot say enough good things about Ryan and his exceptional level of customer service.”
Active
Cobalt Row
Units starting at: $489,900
Welcome to one of Denver’s hottest neighborhoods and luxury row homes at Cobalt Row! Located perfectly next to Sloans, the Highlands and the Colfax Redevelopment area bustling with new restaurants, shops, bars and a brand new Alamo Drafthouse! These 12 row homes are full of high-end finishes, huge rooftop decks, and all the bells and whistles for your urban Denver home! Enjoy an open floor plan, vast windows filling wide rooms with light, and additional closet and storage space throughout! Some of the largest roof top decks show sweeping city and mountain views while also allowing for nice privacy! These are a rare find in teh area and an amazing value to step into Denver real estate investment! Construction to complete in August 2017.
Sunnyside12
Units starting at: $449,900
Welcome to beautiful Sunnyside and 12 thoughtfully designed row homes to fit the modern, Denver lifestyle! This development is for sale in Denver’s next premier neighborhood nestled near the hot Highlands and a quick commute to downtown! Significant community involvement and city investment are transforming Sunnyside into a young, fun and family friendly neighborhood! With easy access to highways and the soon to be completed 41st and Fox light rail station, Sunnyside has it all! New restaurants, coffee shops, live music at Monkey Barrel and two blocks to Chaffee Park make this the ideal location to get your foot in the door in Denver’s booming real estate market!
Ready to make a move and sell your home?
Contact us here to show you how we can make it a seamless process where you quickly get to enjoy your new home headache free.
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