Tracy Shaffer
, , , , , , , , , , , , , , ,

Home Buyers Need Strong Offers

rsz_166-beauty-queen-1957 no effect In a market as tight as we have in Denver today home buyers need to write strong offers if they want to get them accepted. Low, low inventory can’t satisfy buyer needs, making the multiple offer situation more commonplace. With only one winning offer, savvy home buyers learn quickly what makes a strong offer. In the run for the real estate roses, it takes an experienced Realtor who understands how to write a powerful offer that will be seriously considered. Home buyers need to know what makes a strong offer so they can prepare to win.
1.) Get pre-qualified by your bank or a competent loan officer before writing any offers. I used to take buyers out home shopping before they’d talked to their lender, not anymore. I want you ready to go and ready to compete. If I have a strong lender letter in hand, it strengthens your position and makes the process easier.
2.) Often times the seller needs time to move. Using one Realtor to coordinate the timing of a sale and purchase is wise. When working with a buyer, I always call the listing agent to inquire about the seller’s timing needs. If your schedule permits, we can accommodate the seller by writing an offer with a 30-60 day rent-back period. This takes some of the pressure off of the seller, easing stress, and allowing them to stay in the home after closing to close on their replacement home.
3.) Up the ante. A good agent will never lose the earnest money you put up, so showing the seller you’re serious by adding more green to the pot will make them more likely to accept your offer.
4.) Use a cashier’s check for the earnest money. It makes no practical difference but subtly indicates to the seller you really are serious enough to take the time to get a cashier’s check.
5.) Write an Escalation Clause into your contract that says your offer will beat any other verifiable offer by, say $2,000, up to your top dollar amount. An escalation clause, when written correctly, asks the sellers to provide evidence of a credible higher offer so that you know you’re being dealt with fairly.
These are just a few of the strategies I employ to get your offer accepted and knowing how to stand out in a crowd of home buyers is key. Be prepared to compete. Because it’s always more fun to wear the tiara than the runner up sash.
tiara+vintage+graphic--graphicsfairy6bg

/by
Tracy Shaffer
, , , , , , , , , , , , , , , , , , ,

Denver Real Estate Market News

sunriseThere’s a lot of talk in Denver about this “crazy new real estate market”, how “everything’s different than it used to be”, and after six years of heartbreak, I say “thank god”. For those interested in real estate, and for those who might be considering buying or selling a property, understanding the big picture is critical. So here’s where it stands.
Most people think this tremendous seller’s market and that the super low inventory is something new, or that the market’s going to suddenly erupt overnight. Neither is true. Here’s the truth: we are FOUR YEARS PAST THE BOTTOM of our last real estate cycle. Just because the Denver Post is suddenly aware of the real estate market, or Zillow writes screeching articles about the tight market in order to sell ad space don’t be fooled. It’s not new. It is a logical continuation of a market that is reacting strongly to the over-selling we saw between 2007 and 2009 (which finally bottomed out in 2009). It’s doing exactly what real estate market cycles do. They rise and fall over long periods of time, but historically (and I mean over the past 40 years) residential real estate appreciation has averaged 6 percent per year and there is no reason to think that is going to change over the next 40 years.
We tend to think of market cycles in short-terms, spiking and crashing over short periods of time, but a quick look at the last market cycle clearly shows this is not how real estate works. Real estate cycles tend to move in much broader periods, 7-10 years are typical over the past 40 years. This is why predicting short-term market movements can be very difficult, whereas assuming the market will move in 7-10 cycles is a pretty good guess. During these past four years, as we continue the rise from our low, we have seen more of a seller’s market. Plummeting inventory and rising prices drove nervous buyers into multiple offer competitions with happy sellers getting the price they want. In fact, look at Chart Y and you’ll get a great perspective of how strong our market is. You see that the metro Denver 2013 Closed Dollar Volume of all residential sales hit a new high which translates into a record amount of money in the pockets of sellers. Good times for sellers!
Many of my buyers are understandably nervous. Rents are skyrocketing (up 8% this year) but news articles and TV reports claim the market is teetering on the brink of a crash, creating a “Fear of Buying”.
So let me be clear: no one can predict the real estate market with 100% accuracy. I can’t, the Federal Reserve can’t, the banks with all the money can’t (obviously!), no one can. But, understanding how market cycles work, and recognizing how low our current inventory is, I can say with confidence I do not see any impending weakness in the market over the next couple of years. We are four years into what will probably be a typical 7-10 year cycle of low inventory and rising prices. I can’t tell you what the Dow Jones will finish at next Monday. I can’t tell you if the Rockies will win their fifth game of the season. I can’t tell you what the weather will be on April 3rd. But I can say with confidence that real estate tends to move over predictable long-term trends, and this market cycle has a long way to go.

/by
Tracy Shaffer
, , , , , , , , , , , , , , ,

Mid-Century Modern Home For Sale

Mid-Century Modern homes are a hot commodity in Denver. Many of them have been remodeled through the decades, often by owners who didn’t realize that what felt outdated would eventually hold the home’s value. This beautiful Mid-Century ranch home has been restored with respect for the flair and detail of 1960 without being kitchy or “retro”. Sleek lines and a serene palette make it feel young again. Situated on a hill with mountain views, this 4 bed/2 bath home is a short walk or roll to Trader Joe’s, Streets of Southglenn, Goodson Rec Center and open space. Come on by.

/by
Tracy Shaffer
, , , , , , , , , , , , , , , , , ,

Denver Real Estate Market Trends

By now you know the Denver real estate market has bounced back, now let’s look at it by the record-setting numbers.
At the end of 2013 there were:
7,275 homes for sale, (down 6%).
67,550 new listings came on the market for the year, (up 12%).
67,429 homes went under contract (↑20%)
54,024 homes closed (up 17%)
The average days on market was 58 days (↓25%)
Average sold price was $306,910 (↑10%) and closed dollar volume was $16.6 Billion (↑29%). If this sounds like Realtor crack, it is.
Screenshot (1)
But what does it mean for you?
1. Did ya take a look at that map? Go ahead, click on it. Remember when there was a whole lot of pink and red, lots of yellow…? I do. Now the map is predominantly green and the key shows you how much each neighborhood has improved over last year.
(If you’d like more detail about your own neighborhood, shoot me an email.)

Metrolist expert Gary Bauer observes it this way:

The inventory of active listings, homes available for sale, started a downward trend in 2011, which continued through 2013. In March, 2013, the inventory of active listings was 6,682 homes, an all time low. Active Listings continues to be a primary sustainability concern for the home market.
Home affordability declined due to median home price increases. The month’s supply of inventory started and finished the year at 2 months.
Once again, rental rates continue an upward trend and rental availability continues to decline. With declining distressed properties, foreclosures and REO, at less than 10% of the market and low active listings, new home builders will again be an alternate in the housing market. The largest number of Single Family and Condo properties sold in price range of $100,000 to $499,999 for 2013. The largest number of Single Family homes sold in the price range of $200,000 to $299,999. The largest number of Condo homes sold in the price range of $100,000 to $199,999.
Million dollar plus homes closed/sold were up 16% when comparing 2013 versus 2012. Million dollar plus home closings accounted for $1.5 Billion of the $16.6 Billion total 2013 volume.
Mortgage interest rates started to increase and then fluctuated downward to later increase again during the year, with an overall increase of approximately 1%.

And that’s good news for all of us!

/by
Tracy Shaffer
, , , , , , , , , , , , , , , , , , , , , , , , , , ,

Why Do I Keep Getting This Newsletter?

amazing soulsAdmit it. This thought has crossed your mind, hasn’t it? You’ve probably even made a mental note to ask me, or worse… unsubscribe. So what makes me send you this monthly missive? The reasons are few, but they’re mighty.
1. Yes, I am in the business of helping people buy and sell homes and I’d like for you to think of me should that thought also cross your mind. Pretty crafty, huh?
2. To keep you up to date with the Denver real estate market, how it’s doing and where it’s headed. Like this little ditty from USA Today.
2. I believe that life is richer when experienced in community, and that a community is empowered by engagement.
3. I believe that real estate is all about story. Every home, every buyer, every seller, comes with a tale to tell, a story to reveal.
4. I have a knack for meeting interesting people who do really cool things and I want to share them with you.
And here comes the mighty…
5. Every month when I send out my newsy little newsletter, chock full o’ tips about home values and market trends, writing of the wonders of a swanky little art space, or the best place to take a burlesque dance class on a Sunday morning, you call me. You reach out via comment, Facebook, phone or email to let me know what you thought, ask me a question, or (best of all) set up some face-time. And I like that. A lot.

Building and deepening relationships, creating dialogue, drinking coffee… whatever I can do to help you put a little bump in your daily grind.

/by
Tracy Shaffer
, , , , , , , , ,

A Thanksgiving Tradition; passed on from playwright to playwright

Wreath
An autumn past, the glorious playwright James Still sent me an email with this Max Coots prayer/poem/chant. He has sent this to his circle for many years and I was quite moved to be included in this Thanksgiving tradition. And then there is the poem, so spectacular in truth and wit. I loved it so much I’ve adopted the tradition, sending you this a virtual whisper of thanks, as James calls it. I call it a poem for the table, a little salt and a bit of sugar. I hope you will share it, read it aloud (that’s just the best) or delete it if that pleases you.
If this is your first time receiving it we might have just met, or perhaps reconnected after many years. Perhaps you are a stranger, stumbling on it as a novice and to you I say welcome. If you remember it from seasons past, I hope you enjoy it once more and wrap yourself in the true feeling that comes with it. If you are one of the lucky ones, receiving this from me and my dear friend…you are twice blessed. May it fill your heart as the day does your belly.

Let us give thanks for a bounty of people:
For children who are our second planting.
And though they grow like weeds and the wind too soon blows them away,
May they forgive us our cultivation and remember fondly where their roots are.
Let us give thanks:
For generous friends, with hearts as big as hubbards and smiles as bright as their blossoms;
For feisty friends as tart as apples; for continuous friends, who, like scallions and cucumbers, keep reminding us we’ve had them.
For crotchety friends, as sour as rhubarb and as indestructible.
For handsome friends, who are as gorgeous as eggplants and as elegant as a row of corn, and the others, as plain as potatoes and so good for you.
For funny friends who are as silly as Brussels sprouts and as amusing as Jerusalem artichokes, and serious friends, as complex as cauliflowers and as intricate as onions.
For friends as unpretentious as cabbages, as subtle as summer squash, as persistent as parsley, as delightful as dill, as endless as zucchini, and who, like parsnips, can be counted on to see you throughout the winter.
For old friends, nodding like sunflowers in the evening-time and young friends coming on as fast as radishes.
For loving friends, who wind around us like tendrils and hold us, despite our blights, wilts, and witherings.
And finally, for those friends now gone, like gardens past that have been harvested, but who fed us in their times that we might have life thereafter; for all these we give thanks.

– Max Coots
1928-2009

Wishing you a warm and meaningful Thanksgiving

/by
Tracy Shaffer
, , , , , , , , , , , , , , , , , , , , ,

Housing Market Predicted to Rise in 2014

market forecast
The National Association of Realtors just wrapped up their 2013 Conference & Expo. Chief economist for the organization, Lawrence Yun offered his insight on what to expect for the 2014 housing market: steadiness in existing-home sales over the next year as prices continue to ascend.
Based on what has happened in 2013, Yun says he expects existing-home sales to be up about 10 percent in 2013 to 5.13 million and that 2014 will hold fairly even at about 5.12 million.
We in the Denver housing market, predict continued growth in the number of homes sold, with the accelerated appreciation of 2013 to level out in ’14 to around 4 percent.
National median existing-home prices should end this year about 11% higher than 2012, while next year’s growth is expected to nearly half of that. Those who’ve been following the return of the housing market know that the past two years have shown a 20% cumulative increase in existing-home sales with prices rising an average of 18%. Incomes have not kept pace, rising between 2-4% in the same period.

“We’ve come off of record high housing affordability conditions in the past year, and are now at a five-year low, but conditions are still the fifth best in the past 40 years,” Yun said, noting that the median-income family should still be “well-positioned” to buy a home in 2014 in many areas.

Affordability, limited inventory (especially in metro Denver), stringent mortgage standards and rising interest rates will all factor into the expected gains over the coming year. Housing starts are predicted to fall short of the underlying demand, while sales of new homes are expected to total 429,000 in 2013 and 508,000 next year.
Based on Lawrence Yun’s forecasts,the top 10 markets to watch for a housing turn around in 2014 are Salt Lake City, Utah; Naples and Tampa, Florida; Atlanta, Georgia; Boise, Idaho; Houston, Texas; Charlotte, North Carolina; Denver, Colorado; Seattle, Washington; and Tucson, Arizona.

/by
Tracy Shaffer
, , , , , , , , , , , , , , ,

STARZ Denver Film Festival Favorites

Grunge film frameAfter scouring the guide and culling the heard and overheard, here are my STARZ Denver Film Festival favorites…so far. Of course, it’s only day 3 and already my Thesaurus is dog-eared and coffee stained.

For the big movies, there’s nothing more fun than to see the next big thing before it’s been released in a theatre full of film buffs. So I’ve got all of them on my list:
1. Labor Day (see below)
2. Nebraska (Alexander Payne directs Bruce Dern. ‘Nuff said.)
3. August: Osage County (Okay, I’m not a big fan of Julia Roberts but I’m a HUGE fan of Tracy Letts. And who knows, she could surprise me.)
4. At Middleton (Adam Rodgers gets his debut feature film slotted into closing night of the Starz Denver Film Festival. It’s gotta be sumpin’)

Hanna Ranch and American Mustang top my list of beautiful, moving films that reflect my interests and the gorgeous state I call home.
GENE KELLY: THE LEGACY. I was raised on the back lot of M-G-M where the likes of Mr. Kelly would cruise casually into the barber shop or to lunch at the Commissary. This should feel like a home movie.
The Resurrection of a Bastard- Dutch. Thriller. Done.
The Truth About Emmanuel- This one could go either way but my part of Denver Actor Project screens before so I’m there.
The One Who Loves You- Denver actor/director Katharyn Grant’s Indie love story because I hope it’s great and there is a cadre of Denver talent in the cast.

And then there is the element of surprise. I love to pick a day, a time, a venue and then jump in and see the film I know nothing about. It’s like buying a wine you’ve never had and the thrill of reaching beyond what you know is…thrilling. So there will be some of that throughout the week.

What I’ve seen:

Labor Day. Festival opener had me floored from the main title. Based on the novel of the same name by Joyce Maynard, Labor Day hits a place of intimacy and then stays there. One look at the state of single mother, Adele (Kate Winslet), and you can feel her heartbreak in the relatable way that says “that’s about two houses down from me”. When a bleeding stranger presses himself upon her son seeking refuge, she allows it. Or does she? I talked to many of the movie-goers at the opening night party who felt (quite adamantly) that a mother never would have done that. I saw it differently. I saw a woman whose stunned state of sorrow had stripped her of her strength. Earlier in the afternoon, I sat down with Joyce Maynard and we discussed this very thing. “The loneliness of Adele, her deep sadness, that part comes from me. The rest, of course, is fiction.” I could relate. Especially when the bleeding stranger is Josh Brolin. Labor Day is a love story. It should be no surprise that they will fall in love, what is surprising is how lovely it is to watch them do so. Look for my full review on Huffington Post

Gloria– Chilean film, takes place in Santiago, award-winning actress and a story of a woman who defies society’s definition of age… or so the promo says. I did enjoy this film though it’s filled with a lot of mundane tasks so you’re thinking, “Okay, she’s vacuuming her car. Uh-huh, she’s singing on the way to work…”. Having seen a number of ‘coming of a certain age’ stories, I don’t know what to think anymore. Is it all about regret? The one who got away? Getting your ‘groove’ back? Seems like there’s not much else we see or write about when it comes to the middle-aged, divorcee and as one, that depresses the hell outta me. Gloria differs in that she takes the ball in her own hands, frequenting a dance club filled with age-appropriate men. (Must be unique to Santiago;-) Finding one she particularly likes, she ventures into a sexual, and then loving, relationship with a man who cannot relinquish his past. Particularly the dependent ex and his grown and spoiled daughters. Gee… this sounds like a match.com story. Gloria shows the wisdom of maturity as she deals with a lover who is less so, leaving me to believe she’d rather be alone with a hairless cat and a joint than in love with a man who’s a child. Good point. Still kind of depressing.
Dallas Buyers Club. This was a surprise screening for Reel Social Club members, none of whom knew what film it would be until the doors opened. I was ready to pack up and head for the Late Night Lounge when the announcement came. I’d heard of the film months ago but wasn’t really paying attention. Saying goodbyes and grabbing a ticket, I missed the main title. I had no idea who Matthew McConaughey was for the first 20 minutes of the movie. That’s how good he was (and how much weight he’d lost). He and Jared Leto absolutely KILL it in a semi-biographical film about Ron Woodruff, a homophobic Texan who contracts the HIV virus and takes it down like a bull rider. Due to the historical nature of the story, [Woodruff was the one who took on the FDA and AZT, traveling to Mexico and Japan to bring in Interferon and Peptide T which paved the way for the lifesaving “cocktail”] there are some overly expositional bits but the film is not to be missed for the MM and JL performances.

Whether you buy a single ticket or a VIP package, the STARZ Denver Film Festival experience it worth the price of admission.

/by
Tracy Shaffer
, , , , , , , , , ,

Starz Denver Film Festival Opens Tonight!

Rona BarrettThe Starz Denver Film Festival, now in its 36th year, opens this week with an impressive array of cinematic treats. More than 250 features, shorts, music videos and student films will be screened over the eleven day festival with plenty of pre-show parties, post-film panels, Red Carpet Galas and whispers in the Late Night Lounge. We’ll roll out the Kleig lights for those soon-to-be-Hollywood-blockbusters; Labor Day, Nebraska, August: Osage County, At Middleton and the Red Carpet Galas that put the “festive” in the Festival, but it’s the lesser known films that are often are the most memorable. I’ll be scouring and screening, sorting out the skinny and bringing you the news and interviews (Hello Joyce Maynard!) via my THE HUFFINGTON POST blog, but the really hot dish heats up here. I’m goin’ all Rona Barrett on you as I put the Gal in Gala, the life into the party and bring it all to you in (sur)real time and living color.
Pick-your-enemies-carefully-or-you'll-never-make-it-in-Los-Angeles.
All the little last minute details… Right now we don’t know which version LA is sending for The Centerpiece screening of August: Osage County. Will it be director John Wells’ cut or will producer Harvey Weinstein have his way with us?
All the ruffled feathers… One local filmmaker is upset by the content of the Denver Actor Project… something about “Audition tapes” was overheard. Ironically the genesis of the Denver Actor Project was intended to bring Denver filmmakers together to reflect our talent pool and beautiful city, a’la Paris Je T’aime, which Nebraska director Alexander Payne was a part of. The love letter to Denver was too ambitious to do in the available time frame so director, Brad Stabio marched to his own one-man-band pulling together six Denver actors (Jordan Leigh, Chris Grundy, Paul Page, Amie MacKenzie, Jeff Kosloski and me), shooting six individual films and a story to tie these short films together. Running 1-3 minutes each of these six short pieces reveal a part of the whole. I am one of the six, with my part screening before “The Truth About Emmanuel” on Sunday and Monday.
I plan on seeing everything my fellow thespians are in, including Katharyn Grant’s award-winning Indie, The One Who Loves You. Grant, a Colorado actor/filmmaker, directs herself in this love story, set in the 1970s about a failed singer who falls for the grifter who helps her believe in herself. Shot in and around Denver, the cast of The One Who Loves You features some of Denver’s most familiar faces including Rhonda Brown, donnie l betts, Martha Harmon Pardee, Candy Brown, Judy Phelan-Hill, Elizabeth Rose, Laura Norman and Jordan Leigh. The One Who Loves You screens Monday, November 11 at 4:45 and Tuesday the 12th at 9:00.
Stay tuned, comment, converse, share, ask and FOLLOW THIS BLOG or jump in on Twitter @tracetime, @DenverFilm, #SDFF36 And don’t forget to BUY YOUR TICKETS!

/by
Tracy Shaffer
, , , , ,

Starz Denver Film Festival to Ride the Wild Pony With American Mustang

Grey-and-Brown-Horse-in-FieldIn popular culture there is topical, there is trendy and then there is timely. Three days before the Starz Denver Film Festival premiere of director Monty Miranda’s American Mustang and it the news is covered in horse…stories. The Atlantic calls out the Secretary of the Interior, Federal Appeals Court Halts Slaughter— the pounding of the activists hooves rising in defense of the wild horse.
American Mustang is a character-driven narrative about a young girl, a cowboy and a wild horse, woven with documentary style 3-D footage from the open ranges of America’s West. Denverite, Writer and Co-Producer, Henry Ansbacher, teams up with Executive Producer/Co-Writer, Ellie Phipps Price to create memorable characters from extensive interviews with those on all sides of the wild horse saga. Phipps Price spent her early years in Colorado and it was at the BLM holding facility in Canyon City where she adopted her first mustang, Dunstan. Passionate about the plight of this American icon, Ms. Ellie Phipps Price had the idea to create a film to raise awareness of wild horse preservation. She has rescued over 172 wild horses, creating a 2000 acre sanctuary to house and protect them in Northern California.
This is not Director Monty Miranda’s first rodeo with the Starz Denver Film Festival, as SDFF30 featured his directorial debut with the comedy, Skills Like This. Miranda takes a beautiful turn here with American Mustang . His breathtaking images, shot in 3-D on the open ranges of eight western states, braid the history, mistreatment and majesty of the mustang, juxtaposed by the Bureau of Land Management round-ups and the captivity that is often their heartbreaking reality. Narrated by actress and activist, Daryl Hannah, American Mustang is, in turns, sweeping and intimate; a visually stunning love song and call to action.
American Mustang premieres Thursday November 7, 7:00 pm at the UA Pavilions with screenings Saturday Nov 9 at 2:00 pm (UA Pavilions) and Sunday Nov 10, 7:00 pm at the Wildlife Experience* *Note: Tickets for this screening only available at www.thewildlifeexperience.org

/by