…is it still a good time to buy?  First time buyers drove a March surge in Denver-area home sales to take advantage of the federal tax credit, with 3,602 homes sold last month, up 47.9 percent in February and a 12.4 percent increase sold during March of last year.  New home sales nationally improved at the fastest single-month rate in 47 years, as buyers snatched up properties ahead of the expiring tax credits.  Even though the incentives end April 30th, the most popular view seems to be that housing markets are finally strong enough to stand on their own, without government support.  And, it certainly can be the right time to buy if you are currently renting, since you are losing the chance to build equity, take advantage of tax benefits and protect yourself against rent increases.

Home sellers are seeing some stabilization as well.  Denver was among nine metropolitan areas in a 20-city survey that saw home prices in January compared with the same month in 2009.  Home resales in the Denver area rose in the first quarter of this year compared to the same period a year ago.  The housing inventory for single family homes and condominiums remains low.  There were 14,886 single family homes below $1 million on the market in early April, which relates to a 5.196 month supply of homes below $1 million, which would indicate a sellers market.  Properties being placed under contract are rising faster than previous years, with the increase of Under Contracts from March to April of 910 units.  That is the largest April over March increase in 5 years

Most importantly for both buyers and sellers is selecting the right agent.  Buying or selling a home is likely the largest financial decision you will be faced with in your life.  If you are like most people, you want expert professional advice and guidance when making that decision.  Important factors in your choice of brokers include experience, commitment, training and personal rapport.

There is no one more dedicated and devoted to the concerns and well being of our clients than each member of the Arnie Stein Team.  All of the team members are qualified, trained and experienced in their assigned tasks and are capable of pinch-hitting for each other.  Each team member was selected for their expertise in a complementary skill and area of specialty. You get thorough service, because at every step of the way a team member stands ready to assist you.  Give us a call today.