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December 2023 Your Castle Real Estate Newsletter


REAL ESTATE NEWS

An Aspen listing makes Realtor.com’s ‘Most expensive homes in America’ list!


Hey Denver real estate enthusiasts, we've got some exciting news fresh off the slopes! Brace yourselves for the unveiling of 1422 W Buttermilk Rd, the newest listing sensation in Aspen's coveted real estate circuit. This little slice of heaven made Realtor.com’s ‘Most Expensive Homes in America’ list and is full of irresistible charm and alpine allure.


According to Realtor.com “this six-bedroom luxury estate offers spectacular views of the Owl Creek Valley, Buttermilk, and Snowmass. Found throughout the 9,964 square feet of living space are 25-foot ceilings, custom steel-and-glass railings, and an elevator offering easy access to all three levels. The jaw-dropping, two-story living room has a stone fireplace and front-row mountain views. The first-floor primary suite has a gas fireplace, sitting area, and enormous closet with custom built-ins. There’s also a wine room, media room, and connected patios and decks.”




This isn't just another property; it's a ticket to living your best mountain life. With all the modern bells and whistles seamlessly woven into classic mountain charm, 1422 W Buttermilk Rd promises an Aspen experience like no other. So, Denver friends, if you're dreaming of a mountain getaway or considering a slice of Aspen magic, this hidden gem is calling your name – pack your ski gear and head for the hills!


Listed by Riley Warwick of Douglas Elliman Real Estate


(Info Source: Realtor.com)




LOCAL MARKET UPDATE

The Gift of Homeownership


As we find ourselves immersed in the holiday season, homeownership continues to be the gift that keeps on giving. Not only does it provide the tangible benefits of shelter, safety, and warmth, but benefits that are also financial. Real estate is the single largest investment most people make in their lifetime, acting as the most effective means to achieve personal and generational wealth - The Federal Reserve reports the net worth of a homeowner is over 40 times greater than that of a renter!


The Denver Metro area is one that is seasonally based, so looking at the month-over-month data paints a more accurate picture of our market at this time of year than the year-over-year data. Each metric of our Market Snapshot is down month-over-month, besides Days in MLS (which is up and thus in line with the other activity metrics), showing that we’re right on trend seasonally from October to November. It will be of most interest to see how the lowering interest rates impact the data from November to December as these metrics typically continue to trend downwards through the remainder of the year.




The gift of a more balanced market seems to be the name of the game for this holiday season. The previous fluctuations in the market this year have been hard to keep up with, yet as mentioned last month, the data for 2023 mirrors, in many aspects, the pre-pandemic real estate landscape of 2019. After three years of unprecedented records, the market appears to be settling into a state of stability. Although we can't predict what the New Year holds, it's important to work the current market to your advantage based on your unique situation.


INFO FOR SELLERS

Spring is right around the corner!


Sellers in our Denver market are poised on the brink of an impending busy spring season, hopefully marked by even lower interest rates and thus more buyers than originally anticipated. With the spring season on the horizon, typically gaining momentum toward the end of January and into February, and reaching its peak in March and April, sellers can strategically plan the timing of their listings.


This anticipation of increased market activity should prompt sellers to consider the current holiday period as a crucial window of opportunity. If circumstances dictate that they must list their properties now, sellers can attract motivated buyers looking to settle in before the New Year by listing homes that are in great condition and priced well, to continue to attract offers within a week or two of listing. By staging their homes with a touch of seasonal charm and warmth, sellers can also leverage the festive ambiance to create a welcoming atmosphere, enticing potential buyers to envision their future celebrations within those very walls.


Conversely, homes in need of "work" linger on the market, awaiting buyers who often hold out for multiple price reductions before making an offer. So, if blessed with the gift of time, their homes would be most favorably positioned by either waiting to list for a few months, or even better, getting the home ready for the impending surge in springtime demand.


(Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)




INFO FOR BUYERS

There’s still time to get a deal!


For buyers with a home for the holidays on their wish list, this time of year historically marks an optimal period to embark on the journey toward homeownership. The current market conditions continue to create an ideal setting for potential buyers, offering a rare combination of favorable terms. Notably, the declining interest rates seem to present the most motivation for buyers who have been on the fence. Paired with a decrease in market competition during the holiday season, buyers find themselves in a position with ample room for negotiation on price, concessions, and inspection items. This unique blend of opportunities affords buyers a prime time to explore the market with greater ease and deliberation than at any other time of the year. There’s no better time than the new year to make a fresh start in a new space!


(Info Source: D.M.A.R. (The Denver Metro Association of Realtors, YCRE Analysis)


*We use reasonable efforts to include accurate and up-to-date information. The real estate market changes often. We make no guarantees of future real estate performance and assume no liability for any errors of omission in the content.

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