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.
Furthermore, baby boomers are confronted with the same question for varied reasons that include a newfound desire to be mobile and investing in a market that is appreciating from the aftermath of the recent housing bubble.
Real estate agents well-versed on the variables that determine whether a client should pursue homeownership instead of a lease, are positively guiding people through this major life decision.
So posed with the question of whether to buy or rent, what is the answer?
If you do the math, buying in booming markets such as San Francisco, New York, Boston, Los Angeles and my hometown of Denver becomes less expensive than renting over time; plus, with property values rising, it is generally favorable to purchase a home as a long-term investment.
“Renters who want to become buyers hear the buzz that there is a frenzy in the real estate marketplace with multiple offers, over list price and low inventory, so they are nervous to enter into the homebuying market, and they are sticking to renting,” said Denver-area Realtor Brigette Modglin. <<Read More >>
If I were to tell you that Denver ranks pretty high in the country for places that young entrepreneurs are moving to, would that surprise you? Probably not because we all know that Denver is one of the fastest growing cities in the United States and with our outdoor playground in our backyard, the work/life balance here attracts hard workers from all areas. Recently, Denver was ranked 9th in the nation of best cities for young entrepreneurs based on the four criteria of young adult influence, educational attainment, population growth and tax environment by MoneyRates.com.
The rate at which this city is growing will not slow down anytime soon and the types of jobs that the city has to offer is bringing more and more talent to Colorado. Young entrepreneurs see Denver as a place to set up shop because they don’t have the excessive cost of living, a great pick of potential workers and they get to live in one of the most beautiful states in the country. Also the location of Denver is idea for work, it is not too long of a flight from California or the Midwest (New York is always a bit of a long flight but hey, for the view of the Rocky Mountains I think many people will take the three + hour flight).
When many of these young entrepreneurs come to Denver they are looking for a place to set up shop or even a place they can use as a live/work space. One thing I would recommend is to look into the extensive selection of lofts this city has to offer that are ideal as live/work spaces. Since 2005, I have been specializing in lofts, specifically those in the downtown area, and my website AllDenverLofts.com is a great place to start looking for any young entrepreneur looking to move to Denver. Not only will you have a spot to work and live, but you will also own property here in Denver that is always a great investment. I constantly tell my clients that the greatest investment anyone can make for themselves in Denver right now is in real estate and the facts and numbers that recent studies have shown continue to prove that point.
If you are an entrepreneur looking to move to the Denver area sometime soon or anytime in the future, give me a call or email today and let’s set up a time to chat about the choices you have when it comes to looking for the perfect life/work space for your business.
Yesterday was the 17 year anniversary of the shooting at Columbine. Please do not forget this day and always remember what happened on this day even though it is something we would like to forget.
I remember this day well as I was working at an apartment community right around the corner from Columbine HS and all of a sudden there were police cars and ambulances driving by where I was working. The staff and I kept hearing them drive by what it seemed like for an hour or more and then we finally turned on the news and discovered what happened.
I was getting ready to meet my fiance at the time JayModglin to go out to lunch and when we turned the corner the school was blocked off and there were police cars and ambulances everywhere.
That entire day all I heard were police cars and ambulances driving by. I will never forget this day and I ask that you don't forget it either.
I recently went a toured several high schools with a family who is relocating to Colorado this summer and every time I entered a high school we made sure to research their security as this memory of columbine will never be forgotten.
Life if precious so please don't take it for granted and make sure to hug and kiss your family every day and don't let the little things make you mad.
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.
There are many things to love about Denver, from the ever-changing weather to the awesome outdoor activities; you can always find something to do in this vibrant city. One thing Denver is renowned for though is our eclectic mix of amazing restaurants and chefs. Denver has attracted a lot of talent over the years and more and more restaurateurs are making moves to this growing city to try their shot at making it. It can be hard to figure out what restaurant to go to with the huge selection or it can be tough to try new places that are hard to get into or restaurants that are known to be on the more expensive side. That is why Visit Denver decided to start Denver Restaurant Week twelve years ago, a weeklong event where different restaurants participate with special menus and prices for restaurant-goers. This is a great way for Denverites to get the chance to try different restaurants they have been eyeing for a less expensive price tag and also a fun and engaging menu of great food. This year there are over 126 restaurants participating in restaurant week that starts tomorrow Friday, February 26th and goes until March 6th. Feel free to check out menus of all the restaurants in the link below and also you can make reservations (which is highly recommended if you want to get in!) http://www.denver.org/denver-restaurant-week/menus/ . Just remember, this is a very busy week at all these restaurants so you may have to wait a little longer to get seated and to get your food, so practice patience and be sure to tip your waiter or waitress well because they are working very long hours this week! Below are a few restaurants I would recommend trying out this week but all the restaurants on the list are worth checking out!
Atticus – 1115 E Evans Ave – This quaint neighborhood restaurant and bar is known for their warm hospitality. Their American menu is designed around Colorado’s small producers and is complimented with a wide variety of delicious cocktails and wines.
Bones – 701 Grant St – Denver is crazy about noodles these days, you can’t go anywhere in this city without finding a good ramen or pho spot. Bones is on top of the list with their ramen, their green chili ramen is ranked 2nd best ramen in the US so you know it is good! Don’t forget to order their handcrafted steamed buns to start.
Fooducopia – 1939 E Kentucky Ave – This is another restaurant that prides itself on making a delicious menu full of local ingredients. On their website they talk about joining them on a journey to remember the delicious taste of good honest food.
Ophelia’s Electric Soapbox – 1215 20th St – This restaurant used to be home to a brothel back in the day and the owners (who also own the wonderful restaurant Linger in the Highlands) wanted to keep memories of that around. With great live music on the weekend, amazing food and bartenders who know a thing or two about drinks, this is a fun spot to try during restaurant week.
With so many good restaurants signed up to participate this week it will be hard to choose where you should go with friends and family but I hope you get to experience lots of great tastes of this awesome city!
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!
It wouldn’t be right to not say a little something about those football players from Denver who recently won the most coveted title in football. Congratulations to the Denver Broncos for being Super Bowl L champions! What a time to be a Broncos fan, our team had quite a year but in the end, led by Peyton Manning, the team rallied together to play a great Super Bowl game and came out victorious. There has never been so much blue and orange draped around the city and it is quite a wonderful sight to see.
After the big win on Sunday, I listened to many of the interviews with the players and the coaches and have to say, I came away with a lot of realizations about football but also about what it means to be on a team and to have one another’s backs through thick and thin. When Peyton was injured earlier this year, many people got down on him saying he was too old to play and wouldn’t ever be able to come back and play the way he once did. The truth is, Peyton is not the youngest quarterback out there, he isn’t the fastest and he isn’t the most graceful even. But he is one of the smartest quarterbacks out there, who has a team that respects and follows his lead. On and off the field, Peyton is looked up to by players, coaches and the media a like, because he is far more than just a superior football player. For a team to be successful, like the Broncos were this season, there needs to be those leaders on and off the field. The ones who encourage their fellow teammates, push themselves and others to do better, take the disappointments in stride and celebrate each and every little victory.
That kind of work ethic and leadership is something I admire and myself try to do in my everyday life. I am lucky enough to work with some amazing team members, from the company my husband and I run together to the financial organizations I help run, being a team player and a leader is something I strive to do from the time I wake up to the time I go to bed. I have encountered many bad leaders in my time, managers who lack personal skills and speak to their employees in a degrading way, co-workers who find it ok to talk badly about one another or owners who are barely seen at their companies leading many employees to wonder how important the business really is to the owner. The thing is, you can’t have a team without a leader or a group of strong leaders who support those they advise and those they mentor.
There is that saying, there is no “i” in team, and the Broncos showed us that more than anything this past weekend. The offense, the defense, the kicker and good ol’ Peyton, all took to that field and showed what it looks like when a team works together for their cause. In the end, they walked off the field all smiles, knowing they had all taken part in their great victory.
A wise person once said, ‘everything gets better with coffee’. I will openly admit, I am a coffee person. Starting my day with a warm latte or grabbing a cappuccino in the afternoon before a meeting are always things I look forward to. What I like even more though is finding great coffee shops around Denver to try out, meeting new coffee shop owners/employees and making new relationships along the way.
Below are a few Denver coffee shops I have frequented and made some great connections at, make sure to stop in to each and try their amazing coffee.
Hooked on Colfax – My friends own this place so I may be biased but Hooked is a great place to escape the busy that is your day and enjoy some quality coffee. They carry a range of Colorado roasters and local companies who are committed to sourcing the best beans, ethically and sustainably. They also serve breakfast, have a stellar bakery and if you need something stronger they also offer a range of alcohol. Open from 7am-10pm daily, check them out at 3213 E. Colfax Avenue.
Huckleberry on Larimer – This great coffee place was started inside a garage between an alley and a backyard chicken coop by two gentlemen named Mark and Koan. Today, they source coffee from the world’s best producers and honoring it through careful roasting to bring out the best taste. They have three core values, enjoy slowly, cultivate community and appreciate quality. If you find yourself near the RiNo Art District and baseball field, make sure to stop in and enjoy something delicious.
Bellwether – This newly opened establishment is already making waves down on Colfax. Carrying coffee from Boxcar Roasters on tap, as well as Bulleit whiskey, this shop is a great addition to the neighborhood. Also feel like a little shopping? Make sure to check out their great brands from Ruckus to For Love and Lemons. Expect a lot of great things from this place, go check them out from 7am-7pm daily at 5126 E. Colfax Avenue.
Black Eye Coffee – For those of you in the Highlands, my guess is you already know about this gem. Black Eye features single origin coffees that are rotated every month to give you a high standard of coffee from around the world. With a roll-up garage door to allow in the sunshine and breeze on nice days, this coffee shop also offers delicious baked goods and food throughout the day. Located at 3408 Navajo St., and opening one in Capitol Hill soon, make sure to swing in and enjoy a cup of coffee.
Wash Perk – You guess it, this quant coffee shop is located right down the street from Washington Park. A very cozy spot with couches, eclectic décor and outside seating, this coffee shop is a favorite to many locals. Offering a wide variety of delicious drinks, it is a great spot to post up after a walk around Wash pop in at 853 E Ohio Ave.
Aviano Coffee Cherry Creek – A very trendy café with an open and modern design, expect some gourmet espresso drinks, pastries and more from this great spot in the heart of Cherry Creek. Located at 244 Detroit St, you can expect to pay a little more here but it is worth it to get an amazing cup of coffee.
If you ever want to grab a cup of coffee while in Denver and discuss real estate, feel free to give me a call or contact me via email and we can set something up. Always looking to try out new spots or introduce others to some of my favorite places around town.
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.
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 Loveland – every Friday night in Loveland from May through September, come cruise the streets in your beautiful car!
Red, White and Vroom Car Show – 8:00am – 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!
This weekend is Memorial Day weekend, which means one of two things; either you are staying in the city to have a bbq or you are heading out of the city to do on a short vacation. If you are staying in Denver this weekend, I poked around to find some great activities to do for you and your family because it is a long weekend and you should go out and enjoy!
This is all weekend long and features the best of Colorado visual artists. More than 125 artists from all over the state will be there exhibiting and selling their art. A fun way to meet local and Colorado artists and see what talent can be found in our great state!
Downtown Denver will be transformed into a massive free rock concert for all of Denver to enjoy one day and one day only. With 20+ bands taking to five different stages, you are sure to find something to get down to. The performances will take place all down 16th Street Mall, making it easy to get from performance to performance. Bring the whole family to enjoy food, beverages, and of course, the music.
Modeled after the Capitol Building in Washington D.C., the Colorado State Capitol building is a stunning structure with beautiful stained glass depicting people and events essential to Colorado, combined with elegant Colorado white granite, rose onyx, and Yule marble. Even if you have been a Colorado native your whole life, this is a great building to go see inside and take a guided tour. There’s also a 99-step spiral staircase to an open-air deck offering spectacular views of the city skyline and Rocky Mountains just be sure you wear a good pair of shoes!
For those of you 21+, heading up to Golden and going on the free, self-guided Coors tour is kind of a must. What better weekend to do it then this holiday weekend? Coors Brewery is the world’s largest brewing site and they continue to use the same Rocky Mountain spring water their found Adolph Coors discovered in 1873, sounds tasty to me.
What is better than a day spent with the Rockies eating hotdogs and spending time with your family? Catch a game this weekend and make sure to cheer loudly for our boys!
For all the comic and science fiction fans out there, this is the event for you. Held at the Colorado Convention Center, this fun event brings out the fans young and old. Make sure to go dressed as your favorite character and enjoy meeting some of the Comic Con greats.
The first Film on the Rocks is this Saturday May 23rd with the showing of The Hunger Games: Mockingjay Part 1. If you are an early morning person, head out Saturday morning for the Fitness Challenge and enjoy a heck of a workout while you take in the beautiful scenery.
Whether you are staying in town this weekend or heading off to a vacation, I want to wish you and your family a safe and happy holiday. I also want to take a quick minute and say thank you to all the men and women who have served our country and those who are serving today, thank you for all that you do.
Spring and summer here in Colorado are the biggest seasons for selling and buying houses. Sellers know when the weather changes, buyers are out and about looking for their next purchase. These sellers also know that putting in some money to the appearance of their house after the winter will attract more buyers, add value, and potentially give them more offers at the end of the day. One of the biggest recommendations I have for homeowners is to keep your house up-to-date with inspections, presentation and overall wellbeing. If you keep your house functioning but don't give it updates when needed or replace appliances when they falter, you will have a much bigger job on your hands when it comes time to sell your home. To be able to put your house on the market with little work will keep your selling experience less stressful and will keep buyers more interested in what your beautiful house has to offer.
I have compiled two lists; one is for things to do during the years to keep your house up-to-date and the other is what to do when it is time to put your house on the market, how to get your house selling ready!
List 1 - What to do yearly to keep your house in good condition:
- Have your appliances checked - There are professionals out there who would be happy to stop in and check on your appliances from your water-heater to your stove. Keeping your appliances up-to-date and working properly will keep you from having expensive replacements if the new buyers find issues with the appliances before moving in.
- Maintain your yard - Your yard really is the first things buyers will see when they pull up to your house so keeping a good curb appeal is like putting the finishing jewelry or shoes with a great outfit, the wrong shoes could wreck the whole outfit just as a yard unappealing to the eye could turn buyers off immediately. Mow, prune trees, cut bushes, pull weeds, and plant flowers yearly to keep your yard looking extra beautiful.
- Paint, it's cheap and makes things look fresh - If you notice the paint on your house or inside your house is starting to look a bit drab, maybe it is time to add a fresh coat. Giving your house this extra love is a sure way to show potential buyers that you care about this house and care about who the house is sold to.
List 2 - Preparing to put your house on the market:
- First impressions are everything - This is more true then you would expect but you want every buyer to pull up to your house, enter your house and think to themselves, I could definitely live here. Curb appeal as well as entrance appeal are a must to make a potential buyer see what your wonderful house has to offer.
- Paint, paint, paint! - Again, paint is cheap and can really add character to a room. While many of the rooms in your house should be neutral to let buyers put there own vision in each room, adding a bit of color throughout will give the house a unique appearance. Maybe even having a room or two have a theme when staging them, from a beach room to your backwoods room, giving your home that homey feel and character can really help buyers imagine what can be done in those spaces.
- Keep it light and keep it bright - Don't over clutter your home with a bunch of furniture and decorations, you want buyers to see the amount of space in each room so arrange your furniture in each room to show off the whole area. Also, let the sunshine into each room, make sure shades are open and drapes are pulled back to let all the light into each room.
- Focus on the heart of the home - As many people will tell you, the heart of the home can be found in the kitchen. If you are going to put money into redecorating or refurbishing rooms in your house, the kitchen is a great place to start. Update appliances and make sure to give the kitchen a real warm feeling so buyers can envision family dinners and friends coming over for potluck in that space.
- Don't forget the garage - Yes, buyers will go look at this space! First, make sure it is clean and then try to put up shelves and organize the area to show how that space can be used in many ways not just as a place to park cars.
- Hire a realtor - I cannot stress enough how much work goes into selling a house and to help you with that, make sure to really consider having a real estate agent help you. If you are looking to sell your house this summer, give me a call and I would be happy to sit down with you and go over recommendations I would have to spruce up your place to get it market ready.
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!
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.
Even though I have been in business since 2000 I still consider myself and my business like a startup. Technology, people and new innovations are always changing and you have to make sure you always stay on top of them.
I recently purchased a Colorado longboard company and found myself calling it a startup but It has been around since 2008. It never got to really see the market and it had so much potential. My husband, Jay Modglin and I decided to buy this company because we love business and new challenges. We saw the potential to grow this company but we also saw that it is part of a cool creative culture and we were excited to be a part of it.
We never longboarded but I been snowboarding for over 20 years, Jay used to surf and snowboard and we both skateboarded when we were kids. So we thought how hard could it be! So we decided to purchase the company and then started to learn how to longboard. Surprisingly we jumped on and picked it up right away.
So this brings me back to my post about treating your mature business like a startup. Maybe you should always consider your business like a startup so you are always looking for what is new and innovative for your business. If you keep doing the same thing the same way it may not get you infront of anyone new.
Time is never wasted when absorbing, reading and learning about the world outside of your own market. Remaining curious and devoting time weekly to expand your own perspective can pay off for your business. You never innovate examining your own category and what your competitors are doing. Push yourself outside your market comfort zone to inspire fresh thinking and new ideas.
I sell and personally invest in real estate full time and I love what I do. Purchasing this new Longboard company made me realize that I needed to look at my real estate business like a startup and make sure I am new and innovative all the time.
So I have recently started this blog and looking to meet new and innovative people through it.
Go and be a startup again but don't forgot to also be a mature business and act like you've made it!