Denver is a crazy-hot real estate market right now with low inventory and multiple offer situations, especially in desirable neighborhoods like Park Hill. Whether you are buying, selling or both, you’ll need to be very prepared and your first step is finding the right Realtor®. Listen to what the Bernuths have to say about their experience.

Jim and Mary Bernuth wanted to downsize from their beautiful Congress Park bungalow to something smaller but with the same charm.We looked at many homes but the heat turned up when their Congress Park beauty went under contract. Like most current sellers, they were nervous about finding the right replacement home and timing both transactions to make a seamless move. We found “The One” and quickly put in an offer… which was rejected. The sale of their home was complicated on the buyers’ side, adding to the stress. Thank you, Jim and Mary, for sharing how it turned out for you and why you recommend TracysDenverHomes for your real estate needs. Click here for more information on the current Denver market.

It’s one thing when I tell you something and quite another when my clients speak for themselves. Over the past decade Kelly and I have worked to turn her real estate dreams into realities. From selling primary and investment properties to buying her own place to finding the perfect home for her blended family, we’ve had some great adventures! Now this lovely Park Hill homeowner shares her experiences working with me and TracysDenverHomes in four real estate transactions.  I love working with Kelly and she’s been wonderful about referring me to her family and friends. Forever grateful, Ms. Kelly!

I have great clothes. Really. I have a closet full of beautiful clothes for every occasion in only two sizes, perfect for the life I think I’m living. I have coordinated outfits and signature pieces, perfect for the office I pay for but rarely go in to, perfect for the camping trips scheduled but abandoned, mountain weather I’m rarely in, the soirees I attend but can’t find anything to wear to and every imaginable combo for the vacations I take and over-pack for. Theory and reality.

Most mornings I wake up at dawn, pull on a t-shirt and a pair of snappy yoga pants I bought for the classes I’ve paid for yet never gone to, take my son to school, return home to make a delicious hand-crafted cappuccino and head to the desk in my home office. I fire up the computer and the laptop, open my contact management program on one, my writing program on the other, log on to the MLS… and Facebook.  (You know where this is going, don’t you?)

All of this is fine really, and  I do get things done. I mean, something must be going right to be able to pay for  the multiple devises, the software, the yoga classes, the office desk fee and the closet full of clothes. And I devote enough time to writing to keep calling myself a writer.  But where is the gap between the life I think I’m living and the one that takes place day-to-day?

The question of theory is a check-in on the goals and resolutions for 2016.  In theory I’m the girl who gets up at dawn, pulls on those yoga clothes, does the school drop-off, heads to the gym/yoga class, showers and dresses into the sassy ensemble I’ve carefully packed and loaded into the car, and shows up at the office for a full day of work as a busy Realtor. At the end of the day (in my mind) I return to my home office and work for an hour or two on the Great American Novel before throwing a few shallots in the pan to sauté.

As a self-employed single mother, my time is flexible but never my own. Like most in my profession, I wake up every day unemployed and have to get my hustle on, as we all do, but rather than punch a time-clock, I have to time-block to get all that prospecting, house showing, contract writing, negotiating, parenting, exercising and creativity in. Don’t we all? Frankly, I’m not sure how anyone does it, who has time to bake cupcakes, or which day “laundry day” actually is.

But this is not specifically a productivity rant, rather an inquiry into the glitch that keeps us from writing that book or taking that tango lesson. Modern American life asks us to buy into images of perfection, because without feelings of personal deficit, how could we sell things? Madison Avenue must create the perpetual void to be filled with luxury cars, hamburgers, fashion trend and heartburn. We’ve grown so uncomfortable with the empty space within, the interesting space, we hurl ourselves moment-by-moment, away from it with busyness. I call it perpetual prepping; getting ready to be ready. It is the yellow smoke that rubs its muzzle on the window-panes, seeking a way in or a way out. 

2015 was a “structural” year for me. I opened the windows, dumped out my toy box, and got rid of what I’d outgrown, was no longer entertaining and/or working. The result was the grand realization that what I want I already have, I just want it more clearly. No sweeping changes or mid-life crisis, only the desire for simplicity, authenticity, and presence. I could dump my theory into the mixing bowl, add a dash of focus, blend until it becomes reality and, boom. Cupcakes!

I try this, making the commitment write more, I add time. I rearrange my head to include my body, specifically exercising before the caffeine has fully hit, a yogi move for sure. The night before, I  pack my gym bag, my work clothes, briefcase, and put them in the Subaru. So excited to become that new and improved Tracy, it’s hard to get a good night’s sleep, but pop of bed at the first alarm. Being met with  a “Hello” from Adele at sunrise should only happen if you’re just getting home holding your high heels, but I rally. Dropping Gabe at East, I pull into 24hr Fitness by 7:45 feeling pretty damned good about myself. Maybe I can be ‘that girl’ after all, I mean this is going great, right?  Workout complete, I’d even remembered the towel, my self-esteem rising with the hot shower. Pulling on the nude fishnets I’d never worn, I’m troubled by the fact that the crotch seems to want to stay halfway between my knees and hips, the hem has fallen out of my skirt, there’s a spot on my blouse which hadn’t come out in the wash and I’ve not packed mascara. I soldier on into the office looking like a hot mess, reminding myself it’s day one. The next day goes better, though I forgot to pack a bra which wasn’t my best look at 25 either.boobs in pants

Day-by-day, as I morph my theoretical life with the reality I dream of, I learn how much courage it takes to truly be yourself. How much clarity it takes to slough off cultural concepts of needing to fill a void. I am that void, that mystery, and with all the new space in the toy box it’so much easier to find what I’m looking for. And though a few million things need practice, today I will be more present, plan, and try not to forget my foundations…my mother’s word for the brassiere department.

A gorgeous Saturday on Larimer Square, you’d almost think it was springtime and lucky girl that I am, I got to sit down with two of Buntport Theater Company’s smarty-pants collaborators, Erin Rollman and Brian Colonna. The subject of our conversation should be their new show 10 Myths on the Proper Application of Beauty Products, but swiftly veers to mythological 80’s bands, creative cluster-f*cks and the beauty of Diana Dresser.
10MythsDugganDresserEdborgColonna
Joining in in this eggy-bagel-sandwich of a morning is musician/author/muse, Miriam Suzanne, whose book in a box, Riding SideSaddle, inspired this current offering.  Suzanne moved to Denver, identified Buntport as kindred spirits and managed to squidge her way into working with the group soon after. Her dark, indie trio, Teacup Gorilla, provided theatrical soundscape for the ReTriplicate performances, inspired by the Clyfford Still Museum  Repeat/Recreate exhibition and now she’s moved front and center.  10 Myths on the Proper Application of Beauty Products is the opener, adapting, supplementing and riffing on themes introduced in Suzanne’s non-linear , “open source” Riding SideSaddle tale, written on 250 index cards to be read in no particular order.

Following a group of friends that resist order, category and completion, this play weaves myth and storytelling with every day rituals. It is about people deeply in love, suffering loss, celebrating strangeness, all while they pluck their eyebrows. It is about the Greek myth of Salmacis and Hermaphroditus, who are merged into “one being of both sexes” and about what we see when we look in the mirror. Oh, and the whole thing is underscored by a three-piece band standing in the bathtub.

After a nine-month hiatus to focus on different kinds of creative endeavors- a book on collaborative writing, among them- Buntport Theatre Company returns for their fifteenth season and three back-to-back original shows…because apparently, they missed the joys of summer stock. As a writer, I’m insanely jealous of Buntport’s talents and asked them about their process in hopes I could channel my inner voices into a collaborative style of my own. “It’s always the same” says Rollman. “We get together for a pitch session to see who’s thought of something interesting-“, “And then we Google it”, bumps Collona. Once a topic is chosen, they go their separate ways to research and write singularly, sending their individual offerings to Erin who edits it into a kind of first draft cohesion. “That’s where we start the rehearsal where we rewrite, reshape and revise.  A lot”, she continues. “When it comes to casting, we start with ‘anyone want to play something specific?’ and fill in around that. Usually it becomes clear who should take which role.” (I can’t imagine this happening in many other groups.) Which brings us back to Diana Dresser… “We started working on a different piece with Di, which kind of fell apart. It’s back to the morphing kind of thing our shows go through. We’ve always performed as ensemble so having Diana Dresser and Michael Morgan joining us in  10 Myths is a great and different kind of stretch for us. I’m sure our way of working’s been a bit different for them, too.”

10 Myths on the Proper Application of Beauty Products is the first full-length show of Buntport’s 15th Season, followed by a one-person-piece about a museum guard called The Rembrandt Room, where Erin Rollman goes solo. The ensemble comes together again for the third installment, Greetings from Camp Katabasis, an epic exploration of descent and ResussAnnie.  Don’t ask, just get your tickets. Because when Buntport Googles, people listen.

10 MYTHS ON THE PROPER APPLICATION OF BEAUTY PRODUCTS runs March 4-26th. Tickets available at Buntport Theater Company

Join us at Buntport Theatre when The Card Table opens on March 19th from 3-5pm. We’ll gather, start the schmoozefest and then read from Miriam Suzanne’s book in a box. Because it’s written on INDEX CARDS! You don’t need to bring anything but your reading glasses and maybe a few bucks to toss into the hat for that ‘do-good’ feeling.

 

“How’s the Denver real estate market?” Being a Realtor© I’m asked question daily and plenty of things factor into the answer; Rising home prices, consumer demand, lack of inventory, new construction changing the face of our neighborhoods, not keeping up with housing demand, skyrocketing rents, the of effect gas and oil prices, interest rates, affordability index, rates of appreciation and what do I think is the next hot area? But the big idea is supply and demand.

The easiest way to bring all of this info into focus is by rolling out the charts and graphs. Take a look at the “Everything You’ve Wanted to Know About the DenverReal Estate Market” chart below and let’s see what it’s telling us.

See those two lines, the blue one and a yellow one? The yellow line is the number of homes for sale in metro Denver every month from January 2007 to December 2015. The blue line is the number of homes sold every month. Inventory peaked in July 2007 at 30,827 homes for sale. That was at the depth of our economic and housing downturn, when fear ruled our market, banks were being shut down, our local and national economies were in shambles, unemployment was rising, and consumer confidence plummeted. No one wanted to take the risk and buy a home. Reasonable doubt about the future took away our appetite for risk. On the seller side home owners were getting slapped with rising monthly mortgage payments as their Option ARM mortgages adjusted upward, sometimes forcing them to sell at the very worst time.

Supply and demand, baby; prices start to fall (2007 to 2009). Around 2010/2011 the market found some balance with 18,000 to 20,000 homes on the market but, like me in my yoga class, it didn’t stay balanced for long. Supply continued to fall… and you know what that means.                    Just like dating; it’s all about the inventory! 

But let’s stop living in the past. In January 2016, there were 4,286 homes on the market! That’s nearly an all-time low for a January since records have been kept. For the past few years we’ve seen an incredibly strong real estate market in metro Denver as the supply of homes performs a vanishing act, putting the imbalance on the other foot. No three dimensional, super fancy, econometrics model can do a better job of explaining the imbalance in our market than this simple chart, but a 3-D printer might be fun.

I know, blah blah blah, Tracy, what about ME? To which I quip, that depends on what you’d like to do. If you own a home and are thinking of moving, it’s an off-the-hook seller’s market and you can expect to get top value for your home (more on pricing later). You’ll need to think about your next home too, and make sure you have planned the process correctly (this is where my mad skills come in) so the transition from your current to future home is seamless. If you’re buying, make sure you’re pre-approved with a strong lender and have a Realtor© who knows how to write a strong and winning offer. (insert mad skills)

So let’s say you’re renting, or one of those basement-dwelling millennials. With rents zooming to all-time highs, you might want to get out of the (basement) rental rat race and buy a home! You’ll need to cultivate patience and persistence but just in case you missed the earlier piece, the payoff can be YUGE!  We expect prices to continue to move up for several years as the inventory balances with the demand, meaning you’ll gain appreciation in your home purchase for the next several years, longer if you stay. You could even turn that first home into a rental property!

There’s no better way to build wealth than owning rental properties for the long term. Home prices have risen, but so have rents, and interest rates remain at record lows. Smart investors don’t try to time the real estate market; it’s as difficult to do as timing the stock market. The vast majority of Americans who have built wealth as real estate investors have done it buying rental property and having their tenants pay it off for them over time. It’s not complicated and it works.

Of course, everyone’s situation is unique. If you want to talk about how best to take advantage of our real estate market and see what it can do for you please give me a call. I love talking about the real estate market! 

Sellers and pricing  Now that I’ve got you all pumped up on the Super-hero strength of our housing market, let me tell you another trend I’ve been seeing. Rising prices come as welcome news to sellers, but lately I’ve noticed that not every home sells in a weekend bidding war. Buyers are not stupid and overly ambitious pricing still means that homes languish on the market. Every day my inbox brings email announcements of price reductions after sellers and/or their agents over-shoot the mark.  Call me and I’ll be happy to run a complimentary Comparative Market Analysis on your home to let you know what it’s really worth in today’s market. It’s always better to have an ‘exactament’ than a ‘zestimate’.

 

 

 

 

“We can’t even begin to tell you how much we appreciate all your help; you are the most patient woman! You found us the most wonderful house, I can’t wait to make it a home.” Chris & Jenni Greenwood

I hear the question “Is it still a good time to buy a house in Denver?” quite often, as potential home buyers wonder whether they’ve missed the market. My answer is that yes, it’s still a good time to buy a house in Denver, though it’s going to take resilience, and let me tell you why. Even though the dream of getting a screaming deal on a foreclosure got on the bus and left the depot, the strength of today’s market and home affordability show that buying a house in Denver is still a great idea.

It looked for a moment that the Denver Real Estate Market was slowing down toward the end of the summer and into fall, but what I’m seeing now, we still have a very strong market! Showing activity is high meaning that buyers are out there looking, and inventory as of January 1 was still very, very low at one month of inventory  [meaning if no other homes came on the market it would only take a month to sell them ALL].

Buyers will need to be prepared to pull the trigger in this tight market; pre-qualified, well qualified and ready to present a strong offer to win in the ever-so-common bidding wars.  This can mean a number of things I’d be glad to go over with you specifically. Many Buyers will conduct a home inspection solely for informational purposes without asking the Seller to repair or credit for inspection items. This relieves the Seller of the anxiety of a major or costly issue coming up and being asked to pay for it, and though the Buyer may feel similar anxiety over having to assume a house “AS-IS” they can, if done properly, still terminate the contract should the home prove unsatisfactory. Reasonable buyers, sellers and their agents would rather work out a fair negotiation than lose a good contract, even with this stipulation. Another strategy I’ve seen applied is for the buyer to offer to make up some or all of any difference between the contract purchase price and the appraised value of the home should it come in low. As bidding wars force prices up, last month’s comps may not provide the appraiser with enough information to value at contract price, or the home might have exceeded current market value. The market is moving so fast, many buyers would rather kick in some extra cash than go back out looking once they’ve found and been accepted on a home they love. Of course, you’ll have to have the cash to do this so a bit of planning might be in order if you decide to employ this.

The good news for you Buyers is that real estate still offers great wealth building potential. Using standard assumptions (5% annual appreciation), a home purchased today for $250,000 with a 10% down payment and a 4.5% interest rate can produce about $200,000 in equity in a decade! Those of you who are renting may want to think seriously about investing in yourselves.  Even if you don’t have a full 10% for the down, there’s still $$$ to be made.

There are two myths in real estate that are not holding up in today’s Denver market. One is that real estate runs in seven year cycles; statistics show the last up-swing lasted for seventeen, plenty of time to build equity.  The second myth is that condos are the last to rise in value and the first to tank. Right now we are seeing condominium values appreciating similarly to single homes. Overall home affordability remains attractive when you factor in interest rates, home prices and average rents (up 40% over the past five years). A very good time to buy, but before you do I advise investing in some good running shoes.

Paris“Life beats down and crushes the soul and art reminds you that you have one.” – Stella Adler

I spent the first ten days of November in the dark, enveloped in the swirl of the Denver Film Festival, embraced by the magic of movies. My head and heart were filled with the stories of the twenty or so films I’d seen: love stories, tales of triumph and redemption, documentaries and comedies to shine their light on our human foolishness. And there were lots of war stories: old wars, new wars and wars yet to come, each carrying the weight of “why” on their backs like a wounded soldier. By closing weekend the darkness had changed. Paris had been attacked and the world was in mourning once more. Grateful for the darkened theatre, the light as it hit the silver screen, and the gift of being swept from reality for a brief span of time.

Life has always been brutal; it’s that now we have Twitter. Throughout history when tragedy strikes, by the hands of man or the slap of Mother Nature, we have managed to plod on. We survive, sometimes little more.  Healing is a matter of time and the feeling of putting the pieces back together. The leaden feeling lifts and we go on… but how do we make sense of the senseless? Our leaders offer condolences, pledges of support and election year rhetoric. Our pulpits offer duality and confusion as we struggle with loving our enemy. Where do we turn for guidance?

Look to your artists.

Mankind is complex, humanity, elusive; we search for certainty when “the center cannot hold”. We blame, strive to right the world, to get back to normal knowing nothing is certain and there is no normal.  Art has no normal. It has no answers. You can rearrange the pieces as you put them back together, creating something new the world has never seen.   Artists give us what the 24 hour news channels don’t even dream of; context.  After the films were over I was left with nothing but an empty feeling, inundated with the 24 hour news I’d been watching for 48 hours. I switched the channel and there it was, a movie of war and triumph and the power each one of us has on the life of another. The film was Life is Beautiful, and it was.

 

“There’s a moment during every single festival that I love the most, it’s that moment after the speeches on opening night and the anticipation of that first flicker of the image, where it’s a frame no longer and the first story we’ve chosen finally begins.” Britta Erickson, Festival Director Denver Film Society

 

 

“Let’s Dance…”rsz_rock_ballets_photo

Wonderbound had scheduled the Rock Ballets into their 2016 season well before the world heard the news. In a perfect confluence of time and space, sound and vision, Artistic Director Garrett Ammon’s ballets, set to the music of David Bowie and Queen take flight a month after the legendary artist’s ascent. The popular program has been here before, but you haven’t seen it like this.

Not only will the Wonderbound supernova perform these stunning works, the music will be played live by a supergroup comprised of Denver’s Chimney Choir and  the Ian Cooke Band.The music of Queen and David Bowie will be featured along with original tunes by both bands.

Can you imagine the kinetic imagination of Garrett Ammon set free to the lyrical strains of Queen’s “Love of My Life”? Gives me goosebumps just thinking about it so I’m sure that when the dancers take stage for “Bohemian Rhapsody” I’ll be in tears, and “We Are The Champions” should give me a chance to pick myself up off of the floor.Ammon’s star shines in “An Occasional Dream,” delving into one of the most famous tales of history and Bowie’s edgier songs, “Life On Mars,” “Time” and “Space Oddity” while Wonderbound Company Artist Sarah Tallman opens the night with her creation , “Unbroken Sky”. This world premiere will feature songs created by the supergroup septuplet of Chimney Choir and Ian Cooke Band and will evoke the explosion of the Beatnik generation.*snaps*

 “We are very excited to be a part of ​ Rock Ballets ​ . It will be a lot of fun to team up with Ian Cooke Band and reinvent some of the classics.“  – Kevin Larkin, Chimney Choir 

And if that’s not enough, Leon Gallery  has curated Denver Artist Mario Zoots for an exclusive exhibition of new works exploring themes from old Rolling Stones issues from the Bowie and Queen eras. (Oh great, now I belong to an ‘era’).

Rock  Ballets ​opens February 13 and will run for five (5) performances throughout Denver. More information on the production can be found at wonderbound.com​ .
If you can’t wait, stop by a limited seating Teaser at the Wonderbound Studio at Junction Box, for a taste of what the full-length performance will hold. Teaser #9 is on February 2, 2016 at 6:30 pm.

new-year-2015As the clock ticks toward year’s end, it’s time to review the 2015 real estate market.
When someone asks me how the real estate market is, the cocktail party answer is that it’s been a very pleasing 12 months and future looks bright and shiny. Because the economic news is good our Denver Metro real estate market is projected to stay strong but not overheat. I’ll share some of the metrics I use to evaluate the market and understand it better, describing what 2015 looked like and where I think we’re headed.
Market strength–2015 was an extremely strong seller’s market. The market strength peaked in the spring when the bottom dropped out of our inventory and multiple offers were all the rage. Frustrating for buyers who felt they had to give away so much to stay competitive, the good news is that the market reacted appropriately and became more balanced as the year progressed. With prices on the rise, sellers were motivated to sell as we approached the fall so the market cooled with the start of school and the weather. It is still a strong seller’s market, but far more in balance. I expect 2016 to continue along this line and see no sign of a major imbalance that could lead to any sort of ugly peak and crash. Sellers should get a good price for their homes and replacement properties should not be as hard to find.
Buyers– Real estate website Trulia says that buying an average home in Denver is a whopping 38 percent cheaper than renting a home! For the average home, the interest rate would have to skyrocket to 11 percent for renting to become cheaper than buying, meaning that it is currently MUCH more affordable to buy than to rent. Even with current prices and current rents, interest rates would have to nearly triple to make renting more affordable than owning. (Call me if you want to talk about this.)
Sellers-Can’t say this enough: the most important thing to prepare your home for sale is to get rid of clutter. This includes furniture. You may have learned to live with that cherished armchair stuffed into the corner but a professional stager will often times whisk away half of your furniture. The house looks so much bigger for it, leaving space for a buyer couple and their agent to tour the home without bumping into each other, and space for their imaginations to make it their own. You don’t have to go “Stager drastic” but take a hard look, be objective, and see what you can live without. Painting always pays for itself and statistics show that springing for a staging company is often a good investment.
Rental Vacancies– The rental market is stronger than it has ever been in metro Denver. The vacancy rate for 1- to 4-unit properties is an extremely low 2 percent. That’s a drop from the already 4.7% we’d been experiencing for the past few years. On top of this, rents are rising faster than ever, up 30% in the past three years. With rents equaling a mortgage payment, we’re seeing more renters making the decision to buy. Why live waiting for another rent increase, tough competition and another application process without building any equity? Many homeowners who lost their homes in the downturn and have been renting, are becoming eligible to purchase once again. This is great news for the market and will certainly lead to more sales in 2016, though the influx of buyers insures a continuing seller’s market.
Interest rates– No one knows exactly what interest rates will do in the future but my best guess is that they may rise a little in 2016, but only a little. Remember that the Federal Reserve has control over only short-term, not long-term interest rates. Even if the Fed raises rates, that doesn’t directly affect the 30-year home buyer interest rate you are concerned with. Long-term interest rates are affected by the bond market (as bond prices decrease, interest rates increase) which, frankly, is not predictable. Understand though that interest rates are at near 50-year lows so they are highly unlikely to fall any further. All we know for sure is that someday they will go up.
The Economy– No matter what you may hear in the months leading up to the election (places hands over ears), right now the metro Denver economy is very strong. This is fueling our terrific real estate market and the rising population of our city. The unemployment rate is extremely low, about 3.5 percent. Inflation will stay in the range of 1-2 percent, our population is rising at a rate of 50,000 people/year and consumer confidence continues to rise. Nothing can be better for the housing market than a strong and steady economy.
Mortgage -The single most important number for a home buyer is their FICO score. For good or bad, your FICO plays a major role in your ability to finance your home purchase. Your credit score is a snapshot taken by the three leading credit bureaus, TransUnion, Equifax and Experian, to help lenders determine what sort of credit risk you are. Your FICO is a number between 300 and 850 and is calculated by a complex algorithm assessing your past credit history. Most home lenders will consider a score over 700 to be excellent while scores below 600 are considered poor. The better the score the more credit will be extended, at better terms, with a lower interest rate. The best credit terms are extended to consumers with scores above 740. Therefore, it’s critical to understand what your FICO is and what you can do to improve your score. When I work with buyers I help them understand the factors affecting their score so they can work to improve them. I can’t think of a better investment in your future than to spend a little time working on your FICO score.
Here are a few tips I give my clients:
1.Don’t max out your cards, try to keep them under 50% of available credit. Running high balances can severely impact your FICO.
2.Continue paying your bills on time.
3.Don’t apply for new credit or cancel an old card because length of credit helps.
4.Pay down high balances.
5.Dispute and resolve any inaccurate items in your credit report.
6.Invest in a credit monitoring company to track the changes to your score.