We must protect this house
If there's one theme running through nearly every deal I've worked this year, it's the roof. Roof condition has been the primary inspection negotiation point in 8 of my last 14 transactions — more than half.
Here's why it matters so much right now: roofs over 10 years old can trigger homeowner's insurance premium increases of at least 20%. That's not a hypothetical line item — it's showing up in real quotes, and it's changing what buyers are willing to pay.
My advice on both sides of the table: get multiple contractor opinions before you negotiate anything. Roof assessments vary significantly from one inspector to the next, and I've seen wildly different quotes for the exact same roof. Colorado's wind and hail do a number on roofs regularly, but damage doesn't always mean a full replacement is actually necessary — don't let one opinion set the terms of your negotiation.
Part of what's driving this is the insurance market itself. Insurance companies have been unprofitable in Colorado in 8 of the last 10 years, and that's made them far more resistant to covering roof replacements than they used to be. That resistance gets passed straight down to buyers and sellers at the negotiating table.
What's new in the market
The median home price in Denver Metro reached $615,000 as of May, up about 2% year-over-year. But the underlying dynamics are shifting: supply is increasing while demand is flattening out, and new listings are actually down 6% year-over-year. Put together, I'd expect prices to stay flat or drift slightly lower through the rest of the year.
Save the date: Park Day, August 8th
Mark your calendar — we're gathering August 8th, 2-5pm, for an afternoon in the park. More details to come as we get closer.