May Newsletter 2024

"Our greatest glory is not in never falling, but in rising every time we fall"
- Confucius

Baby Dedication // Pasta Champs

April was quite a busy month, Grace had her baby dedication, Leo started soccer, and Amanda and I took home the championship at the annual Horner: 'Mac and Cheese Pasta Competition.'  Needless-to-say, we are excited for Colorado summer weather to be right around the corner! 

Market Update

We certainly are seeing prices continuing to head north, but will it last?  As we approach Memorial Day the typical seasonality of the market will begin to show.  Partner that with the most recent inflation data and fed minutes and what we see is a likely slowing of the market as we progress into the summer.  

The Good: Inventory is increasing, if you're a buyer you have more leverage as we are seeing more houses available on the market. 

The Bad: If you're a seller, the fed is not your friend right now.  With interest rates continuing to stay elevated in the short-term, buyers are less motivated, thus giving them more power.  

Sellers: Preparing your home and pricing it correctly is pivotal in a market like this.  We're seeing two strategies that a majority of 'for sale' home fall within: 1. Over priced and/or not prepared where they sit for months AND 2. Houses that sell quickly with strong/multiple offers because they are positioned well, priced well, and prepared correctly.

Update on Buyer Commissions

I touched on this last month, but to give you a quick refresher, here's what was in last months newsletter:  

"Starting this July, changes will be coming within the commission structure of buyers/sellers agents as currently listed in the co-op section of the MLS.  While this hasn't gone into effect yet, it's tough to say exactly what the effects will be, but in some cases it would appear that buyers could potentially be more 'on the hook' for costs associated with hiring their own buyer's agent."  

Update: 

This will actually begin on August 17.  We are seeing changes already with the commission structures of some houses currently on the market.  Will it last?  I wish I had a crystal ball, but one thing's for sure: it will create a certain level of uncertainty in the short-term.  At the end of the day, for a homeowner to seller their home for top dollar, it will make sense to offer some sort of incentive to the buyers' agent. 

One other quick note to add to this:  For buyers, you will have to sign an agreement with a realtor before going to see a home.  That said, make sure you know and trust the realtor who's representing you and are aware of the terms in any contract you're signing!

Congratulations Margie & Robert! 

It was a pleasure exploring different houses and communities throughout the southeastern parts of Denver.  After a couple packed weekends and plenty of options that were ALMOST perfect, we finally found the perfect house nestled in the beautiful Meadows community of Castle Rock!  Job well done! 

Colorado's TOP Fourteeners!

If you're ready for summer and exploring the Colorado terrain, take a look at some of the top 14ers and plan a trip.  Just be sure to do your research first, these mountains can be pretty intense! 

Have a Wonderful and Blessed May!

Travis Carey

Broker Assoc.
M: 607.435.5113
travis.carey@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.