Origins: Armistice Day

Veterans Day, celebrated annually on November 11th, has its roots in the aftermath of World War I. Known as "The Great War," WWI officially ended with the Treaty of Versailles, signed on June 28, 1919. However, the fighting ceased months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month of 1918.

This significant moment marked the end of the war and was initially celebrated as Armistice Day. It was first observed in the United States in 1919, as President Woodrow Wilson proclaimed November 11 as the first commemoration, with the day being observed with parades, public meetings, and a brief suspension of business activities at 11 a.m.

Transition to Veterans Day

The observance of Armistice Day continued through the years, becoming a legal holiday on May 13th, 1938, dedicated to the cause of world peace and to honor the Veterans of World War I. However, after the colossal impact of World War II and the Korean War, which brought about the greatest mobilization of Soldiers, Sailors, Marines, and Airmen in the nation’s history, a shift occurred in the purpose of the day.

In 1954, after lobbying efforts by Veterans' organizations, the 83rd U.S. Congress amended the 1938 act that had made Armistice Day a holiday, replacing "Armistice" with "Veterans." President Dwight D. Eisenhower signed the legislation (Public Law 380) on June 1, 1954, officially changing the name to Veterans Day. This change was significant as it expanded the significance of the day to honor American Veterans of all wars.

A Day of Reflection and Respect

Veterans Day continues to be observed on November 11, regardless of what day of the week it falls on. The restoration of the observance of Veterans Day to November 11 not only preserves the historical significance of the date but helps focus attention on the important purpose of Veterans Day: a celebration to honor America's Veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

Unlike Memorial Day, which honors those who died while in service, Veterans Day pays tribute to all American veterans, living or dead. However, it especially gives thanks to living veterans who served their country honorably during war or peacetime.

Conclusion: A Living Tribute

As we celebrate Veterans Day, it's important to remember that it's not just a day for Veterans; it's a day for all Americans. It's a time to remember those who have fought for our country and to recognize the sacrifices they made in the name of freedom and democracy. It's a day to honor our Veterans, to thank them for their service, and to reflect on what their sacrifices have meant to our nation and the world.

In today's high-interest rate market, Veterans face unique challenges when purchasing a home. A crucial tool in a Veteran's arsenal is the VA loan, which offers advantages like no down payment and no private mortgage insurance. These loans are often more favorable than conventional loans in a high-interest environment.

Strategically, Veterans can negotiate seller concessions to lower interest rates and cover closing costs. Exploring new construction homes is also beneficial, as many builders offer rates in the 4% to 5% range. An equally important aspect is choosing the right real estate agent. For Veterans, an agent with a deep understanding of VA loans and strong negotiation skills is vital. They can effectively navigate complex transactions and advocate for the best terms. Another critical component of your team will be your mortgage lender.  They MUST be skilled in the VA Loan and highly knowledgeable on how much in concessions you can accept from a homeowner. 

The home buying process involves finding a home that suits both preferences and budget and includes crucial steps like inspection and appraisal. Maintaining financial health is key, especially in managing mortgage payments and staying informed about market trends for potential refinancing opportunities.

In conclusion, Veterans can successfully navigate the high-interest rate market by leveraging VA loan benefits, employing effective negotiation strategies, and working with skilled real estate agents. This approach can lead to a rewarding and financially prudent home buying experience.

Tom Johnson, Realtor/VA Expert

Hello to my fellow Denverites!

There's been a recent change in the wind concerning our beloved Denver housing market. As with many late summers, we're seeing the usual cool down, but this time, it's more pronounced. A combination of heightened mortgage rates resulted in a 20% decline in home sales for the month of August. To put things into perspective, the rate for 30-year loans has settled around 7.7%.

However, there's some silver lining amidst these changes – Denver's robust home values are holding strong. When we analyze the data from September, there's a marked decline of almost 21% in both home and condo sales compared to the preceding month. This represents a 28.2% reduction year over year. While there's a seasonal ebb and flow to these numbers, it's worth noting the past trends: an 8.4% drop the previous year and 12.2% the year before that.

In terms of available properties, September brought an 11.2% surge in listings to a total of 7,629. However, this figure is only half the typical September average. Interestingly, even with fewer new homes coming to market – down 5.9% to 4,589 last month and a substantial 12.6% decrease from the previous year – our overall supply went up.

On the pricing front, the median amount for a single-family home in September stood at $640,000. This was a 1.5% reduction from August, but it showed an increase of 1.6% year over year. For those looking at condos and townhomes, the median price was $420,000 in September, representing a 0.48% monthly increase and a growth of 2.4% over the past year.

Instead of demanding price reductions, many buyers are now asking for concessions. These often include interest rate buydowns, and this shift has led to fruitful negotiations for both parties.

Properties, be it homes or condos, now average about 30 days on the market before a sale, a slight increase from 26 days in the prior month. But let's not be hasty and assume a complete shift in market dynamics. Even with rising supply and softer demand, Denver remains predominantly a seller's market. Notably, the high-end sector (homes valued at $2 million and above) is nearing equilibrium, boasting six months of inventory for detached homes and seven for condos and townhomes.

In the ever-shifting landscape of real estate, Denver's scene remains dynamic. As your local expert, I'm here to guide you through these changes and assist you in making the best choices. Should you have any inquiries or seek further information about our market, do not hesitate to connect with me. Together, we'll navigate the currents and chart the best course for your real estate journey.

Tom Johnson, Your Castle Real Estate

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.

Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:

“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

If you’ve been waiting for the best time to sell, this is your chance. But remember, before you put your house on the market, you’ve got to get it ready. And if you haven’t started that process yet, you’ll need to move quickly. Here’s what you should keep in mind.

Work with an Agent To Determine Which Updates To Make

Start by prioritizing which updates you’ll make. In February, realtor.com asked more than 1,200 recent or potential home sellers what updates they ended up making to their house before listing it (see graph below):

As you can see, the most common answers included landscaping and painting. Work with a trusted real estate agent to determine what projects make the most sense for your goals and local market.

If Possible, Plan To Have Your House Staged

Once you’ve made any necessary repairs and updates to your house, consider having it staged. According to the National Association of Realtors (NAR), 82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. Additionally, almost half of buyers’ agents said home staging had an effect on most buyers’ view of the home in general. Homes that are staged typically sell faster and for a higher price because they help potential buyers more easily picture their new life in the house.

Bottom Line

Are you ready to sell this spring? Let’s connect to plan your next steps. You can start by making a checklist of what you think your house needs to get ready. Then, we can work together to prioritize your list and move forward together.

Tom Johnson, REALTOR® - MBA, CRS, GRI, MRP

Your Castle Real Estate, Inc

Mobile: (303) 856-6185 Email: tomjohnson@yourcastle.org

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Spring is often considered the best time of year to sell your home, thanks to the warmer weather, longer days, and increased buyer interest. If you're planning to list your property this season, follow these five essential tips to increase your chances of a successful sale.

1. Enhance Your Home's Curb Appeal

First impressions matter, especially when it comes to selling a home. Boost your property's curb appeal by sprucing up the landscaping, power washing the exterior, painting the front door, and ensuring the walkways are clean and inviting. An attractive exterior will draw potential buyers in and create a positive impression even before they step inside.

2. Declutter and Depersonalize

Buyers need to envision themselves living in your home, which can be challenging if it's filled with personal belongings and clutter. Take the time to declutter and depersonalize your space, storing or donating items you no longer need. Keep the decor neutral and minimal, allowing buyers to imagine their own belongings and style in the space.

3. Deep Clean and Repair

A clean and well-maintained home signals to buyers that the property has been well cared for. Deep clean every room, paying special attention to kitchens and bathrooms, as they tend to be high-traffic areas. Make necessary repairs and updates, such as fixing leaky faucets or replacing outdated light fixtures, to show that your home is move-in ready.

4. Stage Your Home

Pricing your home correctly is crucial to attracting serious buyers and avoiding a long, drawn-out sale process. Work with an experienced realtor who understands the local market to help you determine the right price. A well-priced home can generate interest from multiple buyers, potentially leading to a quicker sale or even a bidding war.

Final Thoughts

Tom Johnson, REALTOR®

– MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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Tom Johnson, REALTOR® - MBA, CRS, GRI, MRP

Your Castle Real Estate, Inc

Mobile: (303) 856-6185 Email: tomjohnson@yourcastle.org

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Receiving Permanent Change of Station (PCS) orders as an active duty military member, relocating away from Buckley Space Force Base, can be both thrilling and demanding. In addition to planning your relocation and adapting to a new environment, you might also have to sell your home. To assist you in managing this process, we've put together crucial tips for a seamless and triumphant home sale.

1.      Find a Military-Savvy Realtor Immediately Upon Notification

As soon as you're notified of your new assignment away from Buckley Space Force Base, your first step should be finding a realtor experienced in military relocation processes who can offer invaluable, customized advice. A military-savvy realtor, such as Tom or Ron, can provide guidance tailored to your specific needs, helping you navigate the challenges of selling a home under PCS orders.

2.      Begin Preparations Early and Arrange TMO.

Prompt action is vital when confronted with PCS orders. Start readying your home for sale as soon as you can. This entails decluttering, performing necessary repairs, and presenting your property in the best possible light. Early preparation allows you to tackle unforeseen complications, such as inspection results or shifting market conditions.

Furthermore, remember to book your Transportation Management Office (TMO) move immediately after receiving your orders. TMO appointments can become scarce, particularly during the height of PCS season. Scheduling early guarantees that you lock in a suitable moving date, reducing potential stress during your transition.

3.      Capture High-Quality Photos Before the Move

If you received short notice orders or simply decided to move out before contacting a Realtor, you may be setting yourself up for disappointment.  Empty houses tend not to appeal to potential buyers as much as those with furniture and décor. Consequently, it's crucial to take high-quality photographs of your home before your move. Collaborate with your Realtor to capture professional images that emphasize your property's most attractive features while it is still furnished. These images will be invaluable for marketing your home effectively, even after you've relocated.

4.      Understand Remote Closing Options

It's essential to know that, as a military member, you don't have to close on your house while still in the area. If your home doesn't sell before you leave Buckley Space Force Base, you can close from your next duty station. Tom and Ron have a lot of experience with these types of closings and will be able to guide you through this process and work with title companies to facilitate remote closings, ensuring that the sale of your home is completed smoothly even after you've relocated.

5.      Explore the VA Compromise Sale Program

If you experience financial difficulties and have trouble selling your home, the VA Compromise Sale Program might be an option. This program lets you sell your home for an amount lower than the outstanding mortgage balance, providing financial relief during a PCS move. Consult your realtor and lender about your eligibility and the program's specific requirements.

6.      Stay Up-to-Date on Market Conditions

Being informed about the current real estate market in your area enables you to make educated decisions regarding pricing and negotiation tactics. Tom and Ron will supply a comparative market analysis (CMA) and pricing models that details similar home sales in your neighborhood. This data will help you establish a competitive listing price and enhance your chances of a prompt sale.

Final Thoughts

Although selling your home as an active duty military member facing PCS orders may seem daunting, proper planning and the right support can make the process manageable. Keep in mind the importance of finding a military-savvy realtor as soon as you receive your orders. Their expertise will be instrumental in helping you navigate the complexities of selling a home while adhering to military timelines and procedures.

Moreover, remember to take advantage of digital marketing tools, such as virtual tours and high-quality photos, to effectively showcase your property to potential buyers. Finally, don't forget that even if you've already relocated, you can still complete the closing process remotely with the assistance of your realtor and the right title company.

With careful planning, persistence, and the right resources, selling your home while transitioning to a new duty station can be a smooth and successful experience. Best of luck on your upcoming PCS move and home sale!

Tom Johnson, REALTOR® - MBA, CRS, GRI, MRP

Your Castle Real Estate, Inc

Mobile: (303) 856-6185 Email: tomjohnson@yourcastle.org

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The VA home loan program is an incredible benefit for eligible active duty military, veterans, and their families. However, there are some misconceptions surrounding the process, particularly when it comes to property inspections. One common myth is that there's a specific "VA inspection" that homes must pass. In this blog post, we'll clarify the truth behind this myth and provide insights into the VA loan process.

1.      Understanding the VA Appraisal

While there is no specific "VA inspection," there is a VA appraisal. A VA appraisal is conducted by an independent, VA-certified appraiser who assesses the property's value and ensures it meets the VA's Minimum Property Requirements (MPRs). The VA appraisal serves two primary purposes: to verify the home's value and to ensure the property is safe, structurally sound, and sanitary for the buyer. However, it's important to note that this appraisal is not a comprehensive inspection of the property's condition. 

It’s important to note that home buyer will not meet the VA-certified appraiser.  Your lender will order the appraisal which is then assigned to a random appraiser who will contact the listing agent to gain access to the property.  The appraiser will then write up the appraisal and assign a value to the property.  This appraisal is turned into your lender and lastly is sent over to you for your review and acknowledgement.

2.      The Importance of a Home Inspection

A home inspection, separate from the VA appraisal, is a crucial step in the homebuying process. A professional home inspector will provide a detailed assessment of the property, examining the home's structural components, electrical systems, plumbing, heating and cooling systems, and more. The inspection helps identify potential issues that may not be apparent during a walk-through or covered by the VA appraisal.  This home inspector is a 3^rd party hired by the buyers to conduct the independent inspection and reports only to the buyers.  No ties to the VA in any way. 

While the VA does not require a home inspection, it is highly recommended to protect your investment and provide peace of mind. The home inspection report can be used to negotiate repairs or a lower purchase price if significant issues are discovered.

3.      VA Loan Repairs and Escrow

If the VA appraiser identifies MPR-related issues, repairs must be made before the loan can be approved. In most cases, the buyer and seller will negotiate to have the repairs completed before closing.  If the seller refuses to complete the repairs the loan application and contract is in jeopardy of terminating.   

4.      Tips for a Smooth VA Loan Process

To avoid potential delays or complications during the VA loan process, keep these tips in mind:

• Work with a Realtor experienced in VA transactions, as they can help you navigate the process and identify potential property issues early on.
• Communicate openly with your lender and Realtor throughout the process to ensure that all parties are aware of any issues that arise and to collaborate on finding solutions.

Final Thoughts

While there is no specific "VA inspection," it's essential to understand the role of the VA appraisal and the importance of a separate home inspection during the homebuying process. Working with an experienced Realtor and being proactive can help you navigate the VA loan process smoothly and make homeownership a reality for eligible military members, veterans, and their families.

Tom Johnson, REALTOR® - MBA, CRS, GRI, MRP

Your Castle Real Estate, Inc

Mobile: (303) 856-6185 Email: tomjohnson@yourcastle.org

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Tom Johnson is an experienced and award-winning Realtor with Your Castle Real Estate serving the Great Denver/Aurora Metro Area and Buckley Space Force Base. 

As a Residential Specialist and VA Loan Expert he is happy to assist you in purchasing a new home, selling your current home, or simply answering your real estate questions. 

Tom Johnson, Realtor – MBA, CRS, MRP

Call or text to (303) 856-6185 or email: tomjohnson@yourcastle.org

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Tom Johnson and Ron House do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The Tom and Ron Team will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.