Has the Market Officially Cooled? With prices coming down and a possible recession looming, what can we expect?
Masters Real Estate • August 18, 2022
Have we peaked?
Has the Market Officially Cooled?
Let’s go back in time for a moment. It’s February 2022, you are out looking for a house, and find there are four other groups looking at the house your broker selected. You think, that's odd, why are there so many people here? You decide to make an offer at the asking price. Later in the day, you hear back from your broker and the house has 6 other offers. What? Why are there that many? What is the highest asking price? And, you say to yourself, I am not going to pay that much for that house! March comes around quickly, and you've looked at 15 houses. Amazingly you find that every single house you like is going for $100,000 above asking price! You are on the fence, do I spend $120,000 more than I want for this house? Do I waive the inspection all together? How much should the appraisal gap be? Is there any way I can purchase this home?
Well, if you didn't end up buying a property in the last 6 months, there is no wonder why. The last half of a year has seen a dramatic increase in pricing. in the real estate community. We have seen numbers we never dreamed of in this Colorado climate. We have gone from a middle-class community to bordering a luxury market. Some may be happy about this, and others not so happy, but one thing is for sure, we seem to have peaked. Now this doesn't mean you should panic, because there is nothing happening right now, things are just continuing as if normal. We are on the border of a recession, but the market (as far as real estate goes, buying, selling, renting) is business as usual. Homes are still near record highs, and things are looking very, neutral.
Is now the time to buy? Is now the time to sell? Those are good questions. With a lot just sitting on the line it would seem everybody is just wondering when the other shoe will drop and wondering in what direction that will push us in.
So, what to do now? It is still a great time to sell, we are seeing homes sit a little longer than say March, and we are still seeing prices 20% higher than we did 2 years ago. So, is it bad to sit on the market for a little while for that kind of return? Surely not. According to Denver Channel 7, “In June, the median price for a home was $810,415 – a 0.58% increase from a month prior and a 12.31% increase year-over-year."
Unfortunately, we can’t look at national trends because they don’t seem to apply to Colorado. If you find a great deal, take advantage of the opportunity, but don’t be in a hurry, if you don’t have to move immediately, don’t do it out of frustration.
You can always call one of our realtors here at RE/MAX Masters for advice on buying, selling, or creating an investment portfolio in the form of rental properties.
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When it's time to turn over a rental property in Colorado, few tasks are as important — and often overlooked — as carpet cleaning. Whether you're managing a small apartment in Denver or a single-family home in Colorado Springs, getting those carpets professionally cleaned before new tenants move in can make a significant difference in your rental’s appeal and long-term maintenance. How Much Does Carpet Cleaning Cost in Colorado? The cost of professional carpet cleaning in Colorado varies depending on the location, type of service, and size of the area, but here’s a general breakdown: Per Room Pricing: $30–$70 per room Per Square Foot Pricing: $0.20–$0.40 per sq. ft. Whole House Flat Rates: For an average 3-bedroom home, expect to pay between $150–$300 Masters Carpet Cleaning Here are our rates for carpet cleaning. We do this for our homeowners at lease turnover and like to keep our rates competitive and save our homeowners some money. $200 minimum charge $.30 per Square Foot $35 - Set of Stairs $50 - Pet Enzyme Deodorizer $50 - Stains (need to get chemicals and train on using iron) $50 - Scotch Guard Why Carpet Cleaning Is Essential During Tenant Turnover First Impressions Matter Clean, fresh-smelling carpets help make your rental look well-maintained and move-in ready. This sets a positive tone with new tenants and can help justify your rental rate. Protects Your Investment Dirt, grime, and pet dander build up over time, especially with heavy foot traffic. Professional cleaning helps extend the life of your carpet, saving you money on premature replacement. Health and Hygiene Carpets can trap allergens, bacteria, and dust mites. A thorough cleaning helps create a healthier environment for incoming tenants — especially important for those with allergies or children. Meets Legal and Lease Obligations Some cities and counties in Colorado encourage or require landlords to provide a clean and habitable unit at turnover. Carpet cleaning can be considered part of that standard. Security Deposit Disputes Tenants often expect that the carpet will be professionally cleaned before they move in. If it isn’t, and the carpet is already stained or smells of pets or smoke, you could face complaints or even disputes over deposits when they move out. Pro Tips for Landlords and Property Managers Schedule Ahead: Carpet cleaners often get booked up at the end of the month. Schedule as soon as you have a move-out date. Use the Same Vendor: Establishing a relationship with a local carpet cleaner can often lead to discounted rates and more reliable service. Add It to Your Move-Out Checklist: Ensure tenants understand that carpet cleaning may be deducted from their deposit if not done to professional standards. Document the Condition: Always take before-and-after photos. This protects both you and the tenant in case of disputes. Carpet cleaning isn’t just a “nice to have” — it’s a critical step in property turnover that protects your investment, improves tenant satisfaction, and helps maintain a professional standard across your portfolio. For the relatively low cost in Colorado, it delivers strong ROI and peace of mind. Have questions about prepping your rental property between tenants or need help sourcing carpet cleaning vendors in your Colorado area? Drop a comment or reach out — we’re here to help!
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