There are currently 207 blog entries related to this category.
Wednesday, May 18th, 2011 at 12:29pm. 747 Views, 0 Comments.
It can be a frustrating decision...when is the right time to drop the price on your Denver area home?
Some people like to go purely by the numbers... I have heard Real Estate agents say that if the home has been on the market for 1 month, then it is time to drop the price. I have heard others say their rule is 20 showings with no offers, then a lower price is needed.
I think that you have to look at every case individually. I like to pull a CMA (Comparative Market Analysis) on my listings each week to get a feel for what the hyper-local area is doing... Have new listings appeared in the neighborhood? Has anything gone Under Contract or Sold? These are definitely factors that have to be considered if you are going to lower the price of your…
Friday, May 13th, 2011 at 4:47pm. 844 Views, 0 Comments.
I keep hearing about it, so what is a walk score? The simplest answer is that a Walk Score is a number between 0 and 100 that measures the walk-ability of any address. The higher the number, the higher the chance you don't even need to own a car for everyday living. Walkable neighborhoods offer surprising benefits to the environment, our health, our finances, and our communities. And they are starting to have a significant impact on resale value of many urban homes and neighborhoods.
On our website we now have a page dedicated exclusively to Walk Scores. And it's just as easy to find the Walk Score of any property on our site. Simply click on the Walk Score tab at the top right corner of every listings detail page. Below is some more info…
Thursday, May 5th, 2011 at 1:32pm. 1303 Views, 4 Comments.
How long are these great interest rates going to stay so low? Unfortunately, not very much longer. The average mortgage rate in Denver right now is 4.75%, which is terrific. But according to Wells Fargo Securities chief economist John Silvia, interests rates will start climbing higher at the end of the June when the Federal Reserve will end its program of purchasing U.S. Treasurys. Silvia predicts that Treasury rates could rise by one - half to a full percentage point when this program ends.
So what does this mean to the average consumer? A lot actually. While an interest rate of 5.25% to 5.75% is still fantastic and unheard of in a historical perspective, it still makes a very large difference not only in monthly payments rising but also…
Tuesday, May 3rd, 2011 at 3:28pm. 3450 Views, 1 Comments.
What neighborhoods are featured in 5280 The Magazine's Best Places to Live edition for 2011? Perhaps it is just because I am in the business, but it sure seems like whenever I see a Top Hoods or Best Places to Live edition lying around, they always seem to be the most beat up and well read of any of 5280's editions they put out each month. It is incredible how many people look at this edition and how many follow the advice the magazine gives. I have got to say most the time they are pretty spot on and for that reason, it definitely makes sense to consider what they deem the best neighborhoods in Denver when you are thinking about buying or selling in Denver. Below is a list of their best places to live in Denver. Click on the name of each…
Wednesday, April 20th, 2011 at 2:49pm. 2407 Views, 0 Comments.
What is the difference between a "modern" Denver home and a "contemporary" Denver home? It is a question that comes up and one that I ask buyers whenever they tell me they are looking for a modern or contemporary Denver home. There is a lot of confusion between the real meanings of these terms and it can certainly be confusing when looking for your next house. In searching for a good answer to this question, I came across a great article in Realty Times.
According to the article, the label "modern" in architecture and design indicates an exact time period in our design history during the 20th century. Modern design came into its own in the 1920's and 30's and strongly reflects the emergence of new technology and advances in engineering. This means…
Tuesday, April 19th, 2011 at 3:45pm. 881 Views, 0 Comments.
Help, how can I avoid going into foreclosure on my Denver home? It is an unfortunate call that we get a lot at our office. Homeowners who can no longer afford their monthly house payments and foreclosure seems like the inevitable. Luckily, over the past few years, there have been a number of options introduced by the government to not only help people avoid foreclosure, but possibly even stay in their homes.
If your mortgage is owned by Fannie Mae, then there are a lot more options than you think. Fannie Mae has a very informative site that tells you if your mortgage is owned by them, click here, and also what all your options might be if facing foreclosure, click here.
There are 6 options that Fannie Mae offers for you to stay in your…
Thursday, March 31st, 2011 at 2:26pm. 1698 Views, 0 Comments.
How well does zero-VOC paint work? As I prepared to paint my new Highland home, I started considering my options for paint. I had always used Behr Ultra Premium and had been very pleased with it. But in a continual effort to live by more environmentally friendly standards, and the fact I have a pregnant wife who will be living in the house, I started thinking more and more about using "Green" paint.
I had never used this zero-VOC paint before and after reading reviews online, I wasn't too sold on it. But after speaking with some painters, and learning that the newest versions are excellent, I decided to give it a try. After leaving Sherwin Williams with hundreds of dollars worth of paint, I was hoping I made the right decision.
As soon as I…
Wednesday, March 23rd, 2011 at 4:09pm. 1629 Views, 1 Comments.
This house is perfect, but I can't afford to buy it and fix it up. Are there any home loans that will lend me the money upfront to do the work? Selling mostly in central Denver, I show a lot of terrific homes that have amazing potential, but I know I certainly wouldn't want to live in them as is. I therefore get this question a lot and have had a lot of buyers walk away from great homes because the expense to fix it up is just to great.
Luckily, there is a great home loan program for buyers who are willing to take a fixup on, but need to borrow money upfront in order to do so. This loan program is called a 203K, or Rehab loan. The 203K is a product of FHA and in almost every way, functions just like a standard FHA loan. The difference…
Monday, March 21st, 2011 at 8:54pm. 1758 Views, 5 Comments.
Help! What should I do with this stunning pink bathroom in my new Highlands home? I am closing on a bungalow this Friday in Berkeley Highlands. It needs updating throughout and almost all of what I need to do is a no-brainer. But when it comes to this bathroom, I am a bit stumped.
I can't say that I am a fan of pink. This bathroom looks like Barbie puked. But the tile is in perfect shape and it looks like it is brand new. And every time I tell people about it and show them pictures, I get the greatest reactions. Half the people say rip it out and start new, they can't imagine I am contemplating keeping it. And the other half think it would be the world's greatest sin to tear it out, they think it is the greatest bathroom of all…
Friday, March 18th, 2011 at 12:42pm. 1085 Views, 1 Comments.
With a severe shortage of rentals available in Denver, and few rental buildings being built, Denver could expect to see rental rates rise 10% or more in the next few years. This means that if you are in a lease, and plan to stay there for awhile, then you should try to renew your lease before prices go up. Or, maybe it is time to think about buying instead!
In an article I found on CNN Money, Peggy Alford, president of Rent.com says "The demand for rental housing has already started to increase. Young people are starting to get rid of their roommates and move out of their parent's basements."
By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer units on the market, prices will explode. Consider that vacancy rates…