All Forum Posts by: Kenny Smith

@Asare Nkansah

I am not sure he is taking on new clients, but this is the guy we use and he's great!  Steve Fradin @ Muirfield Accounting.  DM me for his information.

Feel free to drop my name at The FI Team w/ eXp Realty if you do reach out.

@Thomas o'donnell

I am from Columbus originally, what part of Columbus?

If you are struggling to rent it out as an LTR..are you close to any hospitals by chance?  You could look into possibly doing an MTR (medium term rental) and cater to travel nurses if so.  You would have to spend the extra money to furnish the property, but you can also ask more in rent.  I'd check out furnished finder.com which is the site most travel nurses use to find MTRs.  Also look on there to see other comps in the area and message them.  Ask them how their MTR is doing?  If they are a reasonable person, they will help you out.

@Jacob Reeves

Certainly not an attorney, but I would definitely call the building department of your municipality and ask about this.  If you aren't getting anywhere, I would definitely recommend at least chatting with a local real estate attorney to have them provide you more information on what can be done.

Xu Som,

Did the property get an inspection completed and sewer scoped?  That is the buyer's responsibility to conduct a thorough inspection and object to any items they'd like to be fixed, a credit for, etc.  If so, were any of the items noted on the inspection report?  If not, you may need to have them call their inspector because they missed a lot of this and see if they can offer to do something for him.  Most good inspection companies have you sign a contract that states they are not to be held liable for any issues that do come up though.  

If the seller filled out a Seller Property Disclosure, but did not mention any of the above, then MAYBE you could have something.  You have to be able to prove they had knowledge of the issues which can be very difficult.  If that truly is the route you want to head down, consult a real estate attorney.

Hi Eric,

Not sure if she's taking on more clients, but you could always ask!  She primarily serves the northern part of Denver, Westminster, Arvada, Thornton areas.

I'll send you a private DM with her information!

Total Active Listings - 7,042

Total Coming Soon Listings - 101

Average Days on Market - 27

Median Residential Home Price - $570,000

List to Close Ratio - 99.3%

Heading into the winter/holiday season, it will be interesting to see what rates and the offseason does to the market.  The market has come a long way since the peak in April which brought median home prices at $615,000, and average days on market of 9.  

30 Yr Fixed - 7.07%

15 Yr Fixed - 6.50%

30 Yr Jumbo - 6.05%

30 Yr FHA - 6.62%

5/1 ARM - 6.79%

Also, Fannie Mae just released their "2023 Rate Projections", and they say rates could go down as low as 4.5% next year (https://www.cnbc.com/2022/08/2...).  If you're able to find a deal now, albeit at a higher interest rate, you could always refinance when rates drop.  The buying pool is still very large!  Once rates drop again, buyers will become active again which could continue to push home prices up.  Especially during the holiday season, there will be deals to be had.

@Joshua Fallin

You could always talk to the buyer's lender and have them reach out to the appraiser to let them know that.  As long as the mold isn't all throughout the house, I would be very surprised if this affected the appraisal all of that much.  

Welcome to BP @Jen Ikuta!

If you are in the Denver area, our real estate team hosts monthly meetups all centered around house hacking (which is our niche).  Feel free to connect if ever interested!

@William Ward

House hacking 100%.  Or you could buy a flip, flip it, rent it out until the market gets hot again, and sell it then.  As previous folks have mentioned, there are will continue to be great deals to be had.  Especially heading into the holiday season.