The Oscar Goes To...The Premier Condo Market

The Premier residential market was feeling the love in February with its sales volume increasing 6.18 percent month over month, and 12.12 percent year over year. Sellers loved that their homes were not taking as long to sell in February with the days on market down 32.74 percent from the prior month to 76 days. No President’s Day sales were happening in the Premier single-family segment of the market, as the price per square feet increased 4.32 percent from the prior month. The average price of a single-family home in the Premier market was  $589,683 - up 0.07 percent from the prior month. With 999 active residences (single-family) at the end of February, and 1.99 months of inventory, buyers had more to choose from compared to homes under $500,000, but needed to act quickly when a listing came on the market. In the category of highest year-to-date percentage increase in sales and sales volume, 2017 over 2018, the Oscar goes to…the Premier condo market at 24.83 percent sold and 23.93 percent sales volume at over $100 million. Days on market for Premier condos was striking at 237 days, down 27.30 percent from the prior month. There were 261 active listings and 3.18 months of inventory in this segment of the market, so buyers had more to choose from in the Premier condo market over other segments of the market.  Download the full March market trends report here.  

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How Testimonials and Reviews are Beneficial for Your Company (Even the Bad Ones!)

Let me start by saying this, the first time you get a bad testimonial or a less-than-professional review, it does not feel good on the receiving end. You may get upset; that pit in your stomach may grow and you may sit up at night questioning why the reviewer said what they did or what the testimonial will do for you and your company. All these thoughts will race through your brain and here is where I am going to tell you to take a deep breathe and listen to me when I say; all reviews and testimonials, good or bad, are good for you and your company and I am going to tell you why.

 

·      The reason most customers leave a company or stop using a product isn’t because they are necessarily dissatisfied with the company as a whole or the products they supply but how they were treated by an employee, the help team, etc. Customer support and how they are treated is the main factor with customers and if they feel they were treated poorly or their situation was handled poorly, get ready to wave goodbye. Knowing this is a huge advantage to you as a business owner because those are problems you can fix. My best advice would be to listen closely to the customer (and not all customers are the easiest of people I understand that and they may feel they deserve special treatment) but overall listen to what they are saying and make changes where changes need to be made. When you are developing your team of workers, surround yourself with a team who treats people the same way you do, no matter their title or their position. Customers can come from all walks in life and you and your team have to be prepared to go out on a limb for some to make them feel comfortable.

 

·      Customers are skeptical of almost any business they first work with and that is understandable. But it is those returning customers, the ones you have worked with for years, the ones who you send ‘Happy Birthday’ cards to and who continue to come back to you year after year that you need to write you a good testimonial. When researching companies to work with or products to use, people today turn to the Internet and read testimonials and reviews to decide where they should take their business. It is up to you as a business owner to ask your repeated customers and even your new customers to write reviews for your company and express how that will help your company in the long run.

 

Reviews and testimonials are a great way to connect with your customers and work on issues in your company as well as your own personal issues that could be pointed out through a review or testimonial. The bottom line is, by knowing what you are doing well and what you are not doing so well, these things will allow you to grow as an individual and as a company so you can continue to be better in the long run. 

Why Being Social Is Essential In Any Business

When talking about social media, many people think of it as a fun thing they do during the day when they have a few down minutes. Social platforms are seen as a place to keep pictures and look up old friends, to write about opinions and to share memories. But there is a whole other side to social media that I, as a business owner, have come know quite well. No matter how hard many business owners’ try to fight it, our country is an ever-growing social media network with new ways to connect and market coming out daily. It is important as a person in business that I figure out the best way to use social media to further my work connections, to advertise my properties and to market myself as a real estate agent and business owner. While I do believe in the older way of marketing, going out and meeting people and handing out my card, there is just not enough hours in the day. Having social platforms that I can post on helps me connect with a wider audience while allowing more relationships to begin via the Internet. Below I have compiled a list of the benefits to having different social media platforms for your company:

Finding New Customers/New Customers Finding You – Whatever product your are buying/selling, there is always a market out there and the more you are out there on social media marketing yourself, the more likely people will find you. With things like Facebook, you can join groups that specifically go with your company and from there, new customers can find you. Or on a platform like Twitter, finding what you want is only a “@” sign away.

Seeing Your Target Market Personally – With access to your customer base at your fingertips on social media, you will get to know them better which in turn will help you market your company/product better.

Keeps You in the Now – A lot of business owners think they have missed the train when it comes to social media and are not sure why they should start now. Well, I can tell you this, it is never too late to start! Even if you are just putting your business on the social media map, you will be surprised just how quickly being in the public eye will increase your sales. Also, it is more than likely that your competition is on social media already and therefore already a step ahead of you. We both know that being one step behind is never the best place to be so take the step and get your social media started today!

It Is Free – I could repeat this one a few times because let me tell you, marketing isn’t cheap, but social media is free, period. Use that to your advantage! Get out there and figure out what social platforms are best for your brand and then use those as guides to market your company. If you are a company such as a real estate agent, using Instagram to post pictures of upcoming listings or great house fixer-upper ideas would benefit not just you, but your clientele, and possibly future clients as well.

Take the time today and sit down to experiment with different social media platforms to figure out which one best fits your business. If they appear intimidating, there are plenty of social media experts out there who would be willing to sit down and go over each essential element to each platform and help you decide which platform makes the most sense for your company.

Just remember, it is essential to be social in today’s business world, find the best platforms for you and your company and watch your business grow!

A Little Meditation each Day Keeps the Stress Away

Everyone has his or her morning routines. Some people get up and head to the gym for a quick workout before heading into the office. Some people get up and sit down at their computers to answer emails and write for a few hours. Others meet up with friends for coffee and discussion before tackling their busy day.

My daily routine starts each day at 4am, yes that includes the weekends. I know, sounds a bit early for some people and that’s ok, for me, this is a time I can have to myself before getting my day going. I have found over the years that meditation works wonders for my mind and my spirit. By getting up each morning and focusing my mind and readying my person for the day ahead, I am able to tackle each day with a calm and ready demeanor. I grab a large glass of water and I do yoga or PiYo in the morning and then I always read something inspirational to help me get going for my day and then I may post something on my social media to help others feel inspired as well.  Nothing too elaborate but I make sure to stick with the same routine as it now is a habit and I look forward to it every day. I also follow a group on Facebook called Miracle Morning that is a group who takes everything based off a book by Hal Elrod. 

I know meditation can be a hard thing to start doing, we all have those racing minds especially right when we wake up in the morning. Below are some suggestions I have if you think this is something you think you would like to try out. For me, I know it has helped me to be a better wife, mother, friend and businesswoman. Starting each day by centering myself helps me center the other parts of my life.

1.    Start small, 3-5 minutes: It can be hard to sit still and let your mind rest, and trust me, 3 minutes will seem like a lot at first! But work on concentrating on your breathing and focusing your thoughts. Eventually, you will be able to meditate 20+ minutes if you so choose.

2.    Understand meditation can help with stress, irritability, anxiety and overthinking: I think every one of us suffers from one of these attributes and mediation is a healthy way to help work on controlling those.

3.    Find your own method that works for you: We are all individuals and as such we probably will have a method of mediation that feels right to us. I personally like yoga even though I know that isn’t for everyone. Try a few methods out, research different techniques and eventually with a few trials and error you will find one that works best for your mind and soul.

4.    Make sure you are comfortable: If your kids are running around, the dog is barking, and you are sitting on a hard wood floor, it will be almost impossible to meditate. Make sure to choose a quiet place as well as a comfortable place where you will not be disturbed and let everyone else in the house know that your meditation time is quiet time.

 If you are not a morning person, but rather a night person, I know many people who also find time to meditate each night to let their mind quiet for the night. Regardless if you are a morning or evening person, mediation has changed my life for the better and I would recommend it to anyone who is trying to find peace and tranquility in their personal life and professional life. 

Photo by anyaberkut/iStock / Getty Images
Photo by anyaberkut/iStock / Getty Images

Vroom Vroom, Car Shows for the July 4th Weekend

Hard to believe it is already July, where has the summer gone? I’m sure you are all getting ready to do fun activities this July 4th weekend from a backyard bbq to heading downtown to watch the great fireworks or maybe packing up the kids and heading on a little mountain road trip. There is so much to do this weekend and I know my husband and my daughter and I are excited for some particular events that have to do with old cars, a love all of us share. My husband and I have been avid car show attendees for years now, as admirers of other people’s automobiles and as displayers of some of our own antique car models. I know we are not the only people who enjoy these car shows, young and old alike take to these events and so I have prepared a list of some great shows to check out over this holiday weekend:

Cruise Lovelandevery Friday night in Loveland from May through September, come cruise the streets in your beautiful car!

 Red, White and Vroom Car Show8:00am – 3:00pm - showcasing classic and exotic cars from all over the world on July 4th.

Cars & Coffee (Weather Permitting)8:00am – 10:00am - if you are one who likes a wide range of cars from Ferraris to Corvettes to Classic muscle cars, this is the event for you. If the weather is nice come out and enjoy the line-up of exotic cars sure to put a smile on any car lovers face.

Very Fine Wheels Car Show 8:00am – 1:00pm – held at VFW Post 4171, all the proceeds from this show go to help local veterans and with limited space available, pre-registration is recommended.

18th Annual ‘Coolest Car Show’ – 10:00am – 4:00pm – this is an event for the whole family so bring everyone! Check-in time is from 8am-9:30am with an entry fee of $30, all registrants receive goodie bags and dash plaques. With an option to display your car indoors or outdoors, admission is only $5 per adult and $2 per child or $10 for the whole family. Live music, children’s activities, a raffle and silent auction accommodate this fun show!

Take the family and your favorite classic car and make sure to catch one of these great shows this weekend! And if it is time to find a new place to park your car, maybe a new three-car-garage, shoot me an e-mail or give me a call. I know it is important to have a place to park your baby and would love to help you start searching for that next spot for you!

Have a safe and happy 4th everyone!

How to Negotiate When Buying a Home

In today’s fast-pass housing market, especially in Denver, going to buy a home can seem like an experience at an auction house. You know what I’m talking about right? Where the auctioneer (here being the home owner) has the ultimate say and you and a good dozen people stand around hoping to make the final offer and hear those magic words of “Sold!”.

So how can you best prepare when going in to negotiate? What is the best way to approach an initial offer, decide on a good price, and finally, sign on the dotted line for ownership to the house of your dreams?

Well first thing is first, you need to have help in your corner from day 1. Working with a REALTOR® is going to put you ahead of the curve because REALTORS know the industry inside and out. We know how to negotiate with sellers and buyers, we know the neighborhoods and what houses are worth, and finally, we know how to get down and creative if we need to in order to help negotiate the best price and outcome for you and your family.

First and foremost, when looking to buy or sell and when it comes to negotiations, find a good REALTOR® and even better a REALTOR® who is an MCNE ( Master Certified Negotiation Expert) (if you are looking currently feel free to give me a call, happy to talk with you).  But here are some other suggestions when it comes times to negotiate for the house of your dreams.

Denver is currently in a sellers’ market, meaning that there is a high demand for houses and sellers’ hold the power. In this type of market you need to move quick when it comes to a desirable house and make a good connection with the buyer. If a buyer doesn’t like your offer, they won’t spend a lot of time negotiating with you. So when working in this market, keep it very simple in the steps to make before negotiating and the steps during negotiation:

  •  In any market, it is essential to get pre-approved right away for a loan. If a seller sees you have the means to purchase their house that always makes them more comfortable with negotiating.
  • Go in strong with your offer, offer the asking price or something close to it.
  • Consider writing a personal letter with your offer or even add a photo to let the seller see who the potential buyers are and an image of the new people who would enjoy the home just as much as the seller did.
  • Ask only for the standard contingencies — financing, appraisal and inspection — to protect yourself down the road.
  • If you really like the home, be prepared to move quickly, houses do not last long in this market.

With all of these negotiation tools in your back pocket, it is exciting to think about finding that perfect home to call your own. Always remember, REALTORS are here to help you through the processes and are your advocate and if you are looking to buy or sell, don’t hesitate to give me a call and chat about what you are looking for, I am more than happy to lend any and all master negotiation skills I have!

 Photo by alengo/iStock / Getty Images

Photo by alengo/iStock / Getty Images

Source: htt://www.brigettemodglin.com

K-I-S-S - How To Start Your Own Business

So you want to start your own business, where to even begin? I would recommend first sitting down and talking with other entrepreneurs and asking them any and all questions you might have about beginning your own company. Small business owners love to network and connect with other likeminded people. Use them as mentors. Take notes and listen carefully to what advice they have to give, try to talk to a range of entrepreneurs too. Find people who have been doing this for years and find a few who are new like you that way you can get a wide range of information to help you start.

Of course the big question is, what will you be starting in? What is it you have decided to take on as a full-time entrepreneurship business? If there is any bit of advice I can give that you take away from this, start a business in something you know and something you have already done. The more you know about your business, the easier a transition will be and the more knowledge you will be able to have on all matters and we all know knowledge is power! You want to start a business where you will thrive on a daily basis, start in something you hold a great amount of information about.

It doesn't have to be complicated.  My dad always used to say "KISS" - Keep it Simple... and you know the last word.  The last word isn’t the nicest word so let’s say Silly for now…Keep It Simple Silly! You know what you know, you are good at what you are good at, and that is where you should focus your entrepreneur endeavors.

Start with the basics. Here are some pointers I would recommend that I used when first starting my own business. I found each of these to help guide me as I began my journey as an entrepreneur: 

1. What will the name of your business be?  Look on your Secretary of State website to see if the name is available.  If it is, reserve it until you are ready to actively start your business. 

2. Talk to legal council and a CPA to find out how you should structure your business.  S Corp, LLC, LLP, etc.  Find someone in your sphere of influence who you know will be a good resource and will protect you.  Don't try to do it yourself.  Hire a professional and mention you are a start up and need to keep your cost as low as possible.  They will work with you if they want your business, believe that you have a viable business and want to see you grow. 

3. Register your Business name.  Check the Secretary of State Business database to see if it is available

4. Get a FEIN ( Federal Employee Identification Number)

5. Get a Business License

8. Look into doing business with your municipality.

9. Understand Federal State, county and city tax requirements.

10. Once you have established the name and company structure open a separate bank account.  Do not mix your personal with your business.  It will be too difficult for your CPA or tax person to sort it all out.  

11. Set up a simple accounting system.  Sign up with a QuickBooks online account or if you can find a free online or cloud based accounting system that you can access from anywhere.  We are so mobile these days and it's helpful when starting out to have everything at your fingertips as most likely to start you will be the one to do the accounting until you are able to fire yourself and hire someone else.  Unless of course you like to do accounting them keep your position with the company.

12. Identify your customer segments and revenue streams

13. Meet with other business owners, councilors to get questions answered.  Get a mentor, someone who can help you through the process and who has been there and knows how to succeed in business.  

14. Get a website or Just simply a Facebook business page. If you want to be in business your business card is your website or online presence.  There are free websites and low cost hosting available.  I recommend Squarespace for a website template and Host Gator or Google for your hosting.  Try to use your business name as your website or get as close as possible.  

15. Marketing collateral.  Make some business cards.  They don't have to be expensive you just need to have them.  Vista Print offers free business cards and you just have to pay shipping.  

16.  Social Media. Start marketing your new business on social media.  Create A Facebook Page, Instagram, Twitter and Linked in account if you don't already have one. If you can link all of your social media together to host all posts, images, write-ups, and etc. great that means less work for you! Again keep it simple.  Start with one page and start sharing posts about your business.  Remember don't sell your business, inform people about what you do and how you can help them.  People don't like to be sold they like to Buy.  I recommend a great book called The Little Red Book of Selling by Jeffery Gitomer.  Jeffery talks about this and how to get yourself into the marketplace without selling.  

17. Networking. Start to network in your community.  Go to free networking events and socialize with other business people.  You will connect with people who can help you with your business. 

18.  Insurance -  make sure to get business and liability insurance and make sure you know what is needed for your business.  

There is so much more but these are the basics to get you started. Remember, start with what you know and also what you love and as they say, you will never ‘work’ a day in your life because you are doing something that sparks a fire in you. 

 Photo by Oko_SwanOmurphy/iStock / Getty Images

Photo by Oko_SwanOmurphy/iStock / Getty Images

  

#StartYourOwnBusiness #BrigetteModglinRealtor  #AllThingsBusiness

 www.BrigetteModglin.com 

 

 

 

 

 

Source: http://brigettemodglin.com/startsbusiness

Paying Over List Price

Spring has sprung around the Denver area and with the changing of seasons and new life sprouting everywhere there also begins the new busy season in the housing market. Have you decided this spring might be the perfect time to start looking for that dream home of yours? There is no time like the present and as Denver continues to grow on the daily, if you are ready to purchase a home, start looking today but be prepared for what you might run into along the way.

 In the Denver market, many buyers are paying over the list price, which can be hard or uncomfortable when you are entering the market with a specific budget in mind. Due to this being a sellers market where homes sell quickly and sellers have a lot of pricing power often even the appropriately priced homes in the Denver metro region sell quickly and receive multiple offers and even cash on the spot offers. In the last month alone, 48 homes in Denver urban neighborhoods went under contract in 7 days or less and sold for 102% of their original list price. The seller and the listing agent determine the list price based on the current market and by comparing recent sales of similar homes. If priced well, the home will fall within a verifiable range based on those sales. Please understand this is a range and there is not set number.  To ensure the home is priced accordingly, ask your Realtor to look at sold and under contract comps in the neighborhood and to discuss those with you.

 With record low inventory and high buyer demand this is causing homes in the Denver metro region to appreciate rapidly. The rule of thumb is to look at comps within the last three months.  If you look back further than three months this can skew your price point and your mental willingness to aggressively pursue the home. Denver homes appreciated at an average of 17% over the last year. This means that the home you could have purchased 12 months ago for 400k is now worth 451k. This provides a solid case and can make you more comfortable when offering over list price. One thing not to do is wait to make an aggressive offer until you have searched for months and lost out on several homes due to being outbid because you could very well price yourself out of the market.  Here are some guidelines you and your agent can employ to help you get under contract and into your next home:

·       Pursue homes priced below the top of your price range. Giving yourself a 3-5% financial buffer will allow you to comfortably bid over list price, providing you a competitive edge and more leverage.  

·       Unless you are paying cash for the property, an appraisal will be required. The appraisal is an official report comparing similar properties (comps) to determine the value of the home you are purchasing. The lender will use this appraised value to determine how much money they will lend to you. If the offer you submitted on the property is higher than the appraised value, you will need to account for the difference.

·       As the buyer, be prepared to make up that difference by bringing cash to the closing table. If the seller is willing to negotiate, they may adjust the purchase price or look to find a compromise between the two. If you reviewed the comps with your Realtor prior to making an offer, you should have a realistic idea of the value of the property.

If your offer far exceeded the homes estimated value, in order to get under contract, there is a good chance the deal will crash at appraisal. Another buyer, the one with the solid and realistic backup offer, is waiting for this to happen. Moral of the story: Make sure you can follow through on your offer before submitting it.

·       Consider terms when writing a competitive offer. The highest offer is not always the deciding factor for sellers. In other words, those with the most money do not always win. A well-written contract with terms that address the seller’s needs is equally important. Does the seller need to find a replacement home? If so, your offer should allow them time to do just that. Will they consider making a concession for updates or closing costs? If not, don’t ask for them in your initial offer. Are there any other offers on the property? If so, you need to adjust your offer accordingly. An experienced Realtor will call the listing agent to ask questions specific to your purchase, allowing you to craft an offer that works well for both parties. The fact of the matter is: If multiple parties are imagining living in the home you love, you’ve got to move past the list price before putting out the welcome mat. Talk to your Realtor about thoughtful strategies to secure your next home.

 If you think you are ready to dive in and start looking, start your search here. I know how daunting it can be to begin looking for that dream house of yours and I am here to help you take those first and last steps to securing that special place.