A little lesson about the current state of the Denver real estate market from yours truly

Recently I was asked by 5280 Magazine to give my two-cents in regards to the real estate market of Denver. The article that was recently published is titled “Everything you know about Denver’s real estate market is wrong” – which is both true and false. This article focuses on the truths and the myths, what is good about the market and what is bad about the market and what buyers can do to stay in this competitive seller’s market.

5280 journalist Natasha Gardner starts with some good news: if you own a house in Denver, its value probably has gone up in the past few years. If you are looking to sell your house, there are plentiful buyers out there willing to pay at asking price or above asking price meaning sellers get to pocket some extra cash. And if you are a buyer, the sooner you are able to buy the sooner your house will grow in value in this every growing appreciating market. Denver used to be a city you could buy a stand-alone home with a yard in a central neighborhood for less than $350k but those days are long behind us with the average house price around $420k.

So that’s where myself and other real estate agents came into the picture, to help pass along out real estate knowledge to help buyers and sellers survive and thrive in this market. With 200 years of collective experience between us, we came up with this list of rules for buyers and sellers to live by:

1.     Understand the impact of record-low inventory levels - Lots of people want to buy homes and right now, Denver is at an all-time-low for inventory. Prices continue to rise because there are not enough inventory to go around so while demand keeps building, so does prices.

2.     Target traditionally quiet times to buy and sell in what’s not a yearlong season - The ups and downs of the market used to be predictable but that isn’t the case anymore, as I expressed, the selling season was off to an early start this year picking up in February.

3.     Don’t count on rising interest rates to stall Denver’s market - Take this for exactly what it is, the interest rates cannot stay at the level they are now and they will continue to rise but that will not hinder the market here.

4.     Get the right app - You want to be as informed as your agent in this market so get out there and find the best apps like Homesnap to keep you updated daily on the new homes on the market.

5.     Find a rock-star agent and be prepared to offer more than list price - This should come without saying, you need an agent who is going to put up a fight for you and has your best interests at heart. Have some money put aside in case you do need to offer more than asking price because when you can close the gap between and appraisal and offer price you are a much better buying candidate to the seller.

6.     Embrace the backup-buyer trend – In February 2016, one in five first offers fell through due to bad-timing, shaky financing or appraisal and inspection issues. I suggested that sellers get pre-inspections so they know if there are big-ticket items to fix. Using a buyer backup, in case the first offer falls through, is a good choice for both buyers and sellers.

7.     Beware of buyer fatigue – There are so many offers and buyers get discouraged which causes them to decide to leave the market and sign another leasing agreement while hoping for the market to settle out more.

8.     Think beyond the house – You might not be able to have the yard you want, or a perfect patio in the back. If you want to live close to the city, you need to realize you might not have all of these things marked off your list.

9.     Assume the seller is listening – Don’t expect you are having a private conversation while in a house, make sure to wait until you are outside with your agent to discuss such matters.

10. Ignore conventional geographic boundaries – Neighborhood lines are being blurred as buyers focus on the metro area as a whole. You might not be able to be in your first choice or even your second but keep an open mind when looking.

11. Increase your budget to decrease stress – This speaks for itself, the more money you have to work with, the more inventory you will have to work with too.

12. Love the one you can afford – We all fall in love with our dream homes that are out of our price range but the goal is to find a place in your budget that you can fall in love with.

13. Consider buying new – A key way to increase inventory in Denver is by infilling and repurposing old places and by looking at the new builds.

Check out the full article at the link below and if you have any other real estate questions I can help answer please just contact me today!

http://www.5280.com/2017/04/everything-know-denvers-real-estate-market-wrong/#

Three real estate condominium developments to keep your eye on

There is something pretty amazing coming to Denver and it has already begun and that is the building of condominiums again in the city. For the past few years, there has been a hold on building condos which has led to a lot of angst for developers and making the housing market even that much more competitive with a true lack of condos to purchase. For all my clients, from the new time homebuyers to my experienced buyers, condominiums allow a range of prices to buy at that can fit everyone’s budget.

There are three huge projects being built in the next few years that I am really excited to share with you all because they are such unique buildings and offer different types of living for every person out there.

1.     The Coloradan – Located at 1750 Wewatta Street, this $200 million, 334-unit condo project is slated to be completed by September 2018. Located adjacent to Union Station, this condominium is the perfect place for buyers wanting that luxury downtown living for a good price. The condos will be sold starting mid $200k all the way up to the penthouses ranging from $1.6M-$3.0M. I recently attended a luncheon about the project and have so much other information to share about this stunning structure. Feel free to contact me today to schedule your private showing.

http://ewpartners.com/the-coloradan-to-complement-union-station/

The Coloradan

2.     Lakehouse 17 – If you are looking for a modern build a little further away from Downtown towards the mountains, head to one of the hottest neighborhoods in Denver currently, Sloans Lake, and find the highly anticipated Lakehouse 17. This condominium is the first WELL registered project in Colorado which focuses on the attributes of the building that impact resident health by examining air, water, light, comfort, nourishment, fitness and mind. It combines best practices in design and construction with evidence based on scientific and medical research to make your living space a happy and healthy home for both your body and mind. They are currently taking contracts and are represented by some wonderful agents at Kentwood City Properties. If you think this might be a better fit for you, let’s chat today and get you over to see the amazing possibilities they have in store for you. http://lakehouse17.com/

3.     The Colossus – Would seem about right to have a Miami developer coming to town with plans to develop two 40-story, 800 condominium units situated right in the heart of Denver. These towers are to be located at 1901 Arapahoe and would represent the single largest condo project ever built in Denver. Units are going to be going from the mid-$200k to more than $1M. The developer, Renzo Renzi, said that Denver is a very exciting city and it is one of the top cities in the United States for its economy and quality of life. His hope is that these beautiful one-of-a-kind buildings will help that grow even more. This is a perfect opportunity for investors to get in with some great condos for very reasonable prices. If you are thinking it is time to put your hat into the ring and buy some investment properties, let’s connect today and figure out the best plan for you to make the most bang for your buck.

http://crej.com/news/condo-collosus-coming-downtown/

How to keep yourself safe from wiring fraud in your real estate transactions

As much as I wish I could say that when it comes to dealing with money and real estate every part of the transactions are 100% safe that just isn’t the truth anymore. In the last couple of years, especially with the rise of real estate doing so well, we have seen a rise in wiring fraud unfortunately and many fraudsters targeting real estate transactions and clients. Because there is a lot of money being moved around, fraudsters see real estate transactions as an easy place to confuse clients and have money wired to made up banks and title companies. Because of these fraudsters, I are keeping a close eye on every deal I do as well as my company Kentwood working twice as hard to make sure this doesn’t happen to any of our clients.

To take further steps, I am working to educate my clients on how to handle any situation they might find themselves in in regards to their finances and real estate. I think it is imperative to make sure every client understands that unless directed directly by me or someone on my team to take some sort of action like sending money or cutting a check, they should never take action without consulting with me first. Below are a few pointers I have come up with as guidelines for my clients to work off of when it comes to handling their money during our real estate transactions:

1. No email is secure not even if it's encrypted.  Fraudsters can intercept an email and wiring instructions can be changed. If you get an email and do not feel it is correct or information seems fishy, contact me directly.

2. We have been targeted in several states by fraudsters who are convincing clients to change where their wire goes at the tail end of a transaction. 

3. Thieves are calling the buyer and say that they are from the title company or lender.  It’s getting very serious, and we are increasingly concerned for the safety of our clients and their money transfers.

4. One of the most important actions I am taking to help prevent wire fraud is by having sincere conversations with my clients about the subject.  We have all heard the horror stories, and it's up to me to inform my clients that people are going to great lengths to steal their money.  My clients should be suspicious of anyone they don’t know attempting to provide instructions on where to wire money.  This is becoming very serious and the thieves are getting bold and creative!

5. To help protect us as agents the brokerage I work for Kentwood City Properties has implemented a new Wire Fraud disclosure.  We have started to use this disclosure and it is required for all my closing files. 

These are just a few precautions I want my clients to take as we work on closing real estate deals together. Like I said, never be afraid to reach out to me or if you are working with another real estate agent, reaching out to them. We are here for a reason, to help guide you throughout this process and make sure to do our best to keep you safe from the day your offer is accepted until the day you move in.

Why A Realtor is Imperative to Your Home-Buying Experiences

In many work industries these days, people are concerned that their jobs might be taken over by a machine who is trained to work better, and more efficient, then a human being. While this might be the case for certain jobs, more than not, many business owners and jobs will keep humans doing the work because there is something that humans carry that technology cannot and that is emotions and empathy. No matter who you come in contact with on a daily basis, the barista where you get your morning coffee, the office manager greeting you every day, or the restaurant where you joke with your waiter, all of these workers bring something to your encounter that is essential to your experience.

Shelly Palmer recently wrote an article titled “The 5 Jobs Robots Will Take Last” which he discusses the five professions that will be exceptionally hard for artificial intelligence or a machine to do better than a human.

·      Pre-school and elementary teacher

·      Professional athlete

·      Politician

·      Judge

·      Mental health profession

Palmer said these five jobs each require a unique combination of human intuition, reasoning, empathy and emotion. While I agree with his choices, I also agree with realtors Laura Ellis’ opinion on the article that he forgot one essential profession and that is a real estate agent.

Let’s start with human intuition. You can use technology to find a home or even sell your home but it takes a good realtor to find a match of the heart and mind because a lot of home decisions are made off of people’s feelings and emotions. As humans, we realize that each and every buyer and seller is different, and so they will need to be handled differently. So it is up to us as real estate agents to help each client feel comfortable making such a large decision. When it comes to reasoning, it is easy for clients now a days to get all the information they need on the computer but it is up to us as their agent to help reason why they should buy a place or why they shouldn’t. We help clients discover the ins and outs of their offer and how we can get them to the closing table in the best way possible. Empathy, you have to have it in order to be a good real estate agent. This Denver market is hard to be in, and clients get discouraged easily, so it is up to us to keep them positive throughout their search. Along with that is the emotional side. Buying a house is one of the biggest purchases clients will make in their lifetime and as a real estate agent it is imperative that we can read their emotions and help them through the highs and the lows.

As your real estate agent, I pride myself in working with you person-to-person and helping with your house search. This is such an important decision, and with my help, we can work to find you the home of your dreams.

Summer Camps for Kids in Colorado

The weather is changing quickly and summer is just around the corner. We may have a few more snow showers before everything is said and done (April is one of Denver’s snowiest months) but I think we are all ready for the weather to stay on the warmer side. That also means that school will be out soon and the kids are going to need some fun activities to stay busy this summer. I know my daughter really enjoys going to camps during the summer and the nice thing is, there are camps for every kid out there. From sports camps to theatre camps to music camps, you are sure to find a camp that will fit your kids to a tee. Below is a list I have compiled of some great camps to check out:

Dinosaur Ridge – For the dinosaur lovers in your family, this is the perfect camp to send them to. See 150 million year old dinosaur bones from Late Jurassic floodplains and stream channels all while learning everything there is to know about the dinosaurs.

Osmond Equestrian – For those of you who have a child who likes to ride, this camp is sure to make them happy where all their horse dreams can come true.

TIGAR Gymnastics & Cheer – The owner of TIGAR, Beth Deasy, has one moto when it comes to kids: they should grow up to become adults who love who they are and what they do and at this camp, they will learn to develop such self-knowledge and a passion for life. Kids can have it their way too if they want their parents to accompany them at camp or if they are ready to rock solo, up to them.

School of Rock Denver – If you have a child who loves all things music then this is the camp for them. School of Rock teaches guitar, bass, vocals, keyboards, drums and much more. Each student will be exposed to weekly private music lessons as well as group band rehearsals to prepare for their final concert at the end of camp.

iD Tech – Ranked the #1 summer tech camps for kids and teens ages 6-18, this day and overnight camps is perfect for aspiring programmers, video game designers, engineers, photographers, app developers and much more. iD Tech has programs specific for girls, teens, tweens and young learners.

Here are a few others to check out in specific categories:

Dance – Between the Bones Studio Collective, Play On!, Rocky Mountain Movement

Drama & Musical Theater – Jesters School for the Performing Arts, Rocky Mountain Theatre for Kids, Vintage Theatre Youth Spotlight

Sports – Apex Center, Avid4 Adventure, Breckenridge Ski Resort, Dream Big Day Camp, Gates Tennis Center, Kids Yoga Guide, YMCA

History, Nature, Science and Technology – Colorado Master Chess, Golden History Museums, Mad Science of Colorado, Robots 4 U and STEAM Robotics, WIZ-KIDS

There are so many great camps out there so make sure to get your kids signed up for some fun this summer!