Denver First Time Home Buyer FAQ

Mortgage lender Michelle Oddo and Denver Realtor Caroline Kleckner have created a video series for first time home buyers. It can be overwhelming to know where to start in the process of buying your first Denver home. Some of the questions Michelle and Caroline answer are:

How do I get started in the home buying process?
Do I need 20% down for a home mortgage?
Do I need to use a real estate agent?
What is earnest money and when do you need it?
What is title insurance?
How do you estimate your monthly mortgage payment?
What is homeowner insurance?
What is mortgage insurance and when is it required by the lender?

If you have any questions or want more information, visit our YouTube channel or contact Michelle today for a no obligation consultation!

Contact us to get started on buying your first home!
Michelle Oddo
(303) 961-6906

April Brought The Adrenaline To Denver Real Estate!

While April usually kicks off our busiest real estate season…last month was more like a drop-kick!

Denver’s average single-family homes’ sales price hit an all-time high: $553,371 (condos increased to $368,565).

So while homeowners’ price negotiations were strong, home buyers had some key advantages:

  • More time to house-hunt as listings spent 28 days on the market (last April, it was only 20 days).
  • With over 7,000 properties on the market, home buyers also had a lot more inventory to choose from (every April since 2015, our supply has only been in the 5,000s).

No doubt we have more intense months ahead. Home buyers and agents, to be on top of your game, we’ll design an excellent strategy and a team of professionals to navigate our market’s unexpected shifts.

You can email, call or text me at 303-961-6706 anytime get started. I look forward to sharing insights and advice about your specific lending needs.


Early Birds Getting The First Spring Worms!

It was an exciting month for our market! Both buyers and sellers were READY to go under contract in March. With a larger inventory (we had 22% more homes come onto the market, according to DMAR), house hunters found properties that met their needs. Homeowners seemed to negotiate for the price they wanted (as average sales prices remained steady). So we had a whopping 27% MORE homes go under contract compared to February. With this many deals getting done, homes spent less time on the market and we ended the month with just a slightly larger inventory compared to February. 
So the spring frenzy is in full effect! In April we typically have even more homes hit the market. 
Homeowners who’ve built up equity, THIS IS YOUR TIME TO UPGRADE. The conditions are quite ideal: more homes on the market + sales prices will likely rise + mortgage rates are steady =  opportunities to purchase the next, right home!
Let’s chat today about your needs. Feel free to call, text, or email me today.

Why Denver Home Prices Are Climbing

I often get asked why home prices are climbing in a hot market like Denver. These are a few reasons. But take heart! With time, patience, and a great strategy, I’ll help you secure the right home for you!

Learn more at or contact us for advice or a consultation:

Michelle Oddo
Sr. Loan Officer


Feb 2019 Real Estate Market Update

I have such exciting news to share about our Denver Real Estate market!!

Homeowners, you’ve probably been waiting for years to purchase a better home. While last spring our super hot market might’ve given you an incredible return at closing, the lack of inventory caused many of you to reconsider hunting for a new property.

But this February we continued to see more listings hit our market while prices remained at lower levels. The median price for a single-family home was actually $430,000 (which we last saw in March of 2017). Considering we had 47% more homes for sale compared to last February, our buyers were thrilled to have more options!!

So if you’re looking to upgrade – this may be your time! I’d love to help you find the next, right home!!

Contact me to get started on your strategy.

Michelle Oddo
(303) 961-6906

Sources: DMAR Real Estate Report & The Denver Post

Outsmart The GRINCH!

You know what’s really fun? Guessing, am I right?

Remember that time you won the office pool based upon your guess of 327 pieces of candy in the jar? Or that time you shook the present sitting under the tree until it divulged its contents. Yeah… Neither do I.

If you were to ask most people, they’d probably tell you that guessing isn’t their forte. But when it comes to the real estate market? Oh man, our guessing abilities reach prodigious levels. Ask any novice real estate expert who Guesses without Reason using Incorrect, Non-evidence based Hypothesis (GRINCH) in Denver today and you’ll find plenty of ‘bubble’ speculation. Rates, home prices, the hippest up and coming neighborhood… All speculative novices who are buying into an overheated market.

As an any savvy GRINCH would know, these trends can’t, won’t, and most definitely shouldn’t continue. Not this time of year, not in this market, and certainly not in my back yard. But do you know what a GRINCH generally avoids? Data.

Data about denver real estate bubble. Don't be a grinch!

Here’s a few fun facts to quickly run past your favorite GRINCH next time the 2008 bubble comes up:

Cumulative Job Growth 2008: 85,892
Now: 180,708
What’s it Mean: Our local economy is adding jobs 2X as fast now as it was during the ‘bubble years.’

Average Months of Inventory 2008: 6.1
Now: 1.8 Months
What’s it Mean: Houses sat on the market 3X as long during the ‘bubble years.’

Homes For Sale End of Year 2008: 22,258
Now: 5, 726
What’s it Mean: There were 4X more homes sitting on the market during the ‘bubble years.’

Net Migration to Denver 2008: 24,000
Now: 190,000
What it Means: 8X(!!!) more people have moved to Denver than during the ‘bubble years.’ All people need a place to live, right? More people = more demand.

Those are just a few fun stats to highlight the marked departure in those famed ‘bubble years’ in contrast to what we’re seeing today. GRINCH away if you’d like, but a cave you own will always feel better this time of year when you own the respective mountain it sits on.



Wednesday, July 25th, 2018
4:00 pm – 8:00 pm
Location: Mountainstorm Insurance
(300 Plaza Drive, Suite 195
Highlands Ranch CO 80129)

Food and drinks provided.

Bring your worn, torn or faded flag and we’ll exchange it for a new one.