Find the most up to date listings for homes in the Denver metro area.

Tracy Shaffer
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WHAT I DID ON MY SUMMER VACATION

It’s the third Monday of August and I can’t believe school started today. It never seems like there’s enough of summer, no matter how you fill it. This year we took off for New York the week after graduation, spent ten jam-packed & fun-filled days, and then returned to Colorado’s wildfires and 50+ days of oppressive heat. Where did those idyllic summer days spent swatting bugs and camping on a lake go? Did they evaporate in the drought or global warming, or was I just making that stuff up?
My summer sons used to fill their days with parks and pools and tennis lessons. They tried baseball, fencing, went to soccer camps, tore up playgrounds and ran everywhere they went. Then came the summer of love… as I was frantically trying to satisfy their (or was it my?) artistic, culturally aware, intellectually stimulating and physically challenging schedules, they piped up with “Mom. Why do we have to do anything? We just want to sleep in.” I get their point. I love to sleep in too and with the freedom from school bells and missed buses, I can usually make it to… about seven. Three months of sleeping boys and selling houses gives way to the rude awakening as the laughter of the morning DJs hit my ear at 5:30.
Back to school puts us back on schedule. I’m up; I’m at the gym, home, showered, caffeinated and ready to take on the day. As autumn approaches, I begin to squirrel away my proverbial nuts, making plans for the year ahead and switching into high gear as the temperatures drop. Though summer is regarded as the selling season in real estate, fall and winter are most often my most productive quarters. And while that might feel like the salmon swimming upstream, I find the lazy daze of summer bring out recreational buyers who may be toying with the idea, and more sellers who want to ‘put it on the market and see what happens’. The cooler months coax the serious out of hibernation. Denver real estate stats for the second quarter were up and July looks equally promising for the market with inventory down and prices edging up. Fall, with its focus on the election, will tell its own story, but I see brighter days even as we lose the light!
Denver Metro Single Family Housing Stats, July 2012:
Active Listings: 9,087 • Down 35% from July ‘11
Under Contracts: 4,181 • Up 23% from July ‘11
Solds: 3,713 • Up 20% from July ‘11
Average Price: $312,920 • Up 5% from July ‘11
Average Days on Market: 64 • Down 35% from July ‘11

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Tracy Shaffer
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Forward Movement

I’m moving! Well actually, I am planning to move. Next year. That’s how long it will take me to prepare my current home as a rental, give the tenants in the other house notice, and most importantly, let my son finish eighth grade at his current school. The idea came to me this summer when my old friend/former neighbor/current client called to discuss her options regarding the inspection objection on her new home. “We’re sitting in the backyard having wine. I wish you were in the hood, you could come over.” And that’s when it hit me; I’m too far away from my friends! I’ve been rumbling a plan around in my head since then, but I knew it was in the cards when my thirteen year old jumped in the car one day and stated, “Mom, I don’t think these suburban kids are my people.” Oh, I feel ya, babe.
Moving to Denver from Los Angeles, we settled in to Congress Park for the first ten years. The boys went to Denver Public schools and loved them. I loved the sense of community I felt; summers under the elm trees at the Congress Park pool, cool autumn evenings on the soccer fields, and all the school activities with the kids and parents I was growing up with. I felt safe, and I felt loved. People got my sense of humor, we shared our sorrows, our secrets and our extra tomatoes when the gardens were good. As our family’s needs and the market changed, we crept slowly southward. I kept the boys in Denver Public Schools as long as I could but the daily commute in the winter was fraying my sanity and my tread. I began to notice my urge for the urban as I kept putting buyers into my favorite neighborhoods; Park Hill, Congress Park, Washington and Platt Parks, Mayfair, (I could go on) but never realized it was all part of my secret plan. Now that Gabe has decided he wants to forgo the big suburban high school experience to attend East with his best friend and the other members of his “tribe”, I’m out of the walk-in closet and all in!
I grew up in the suburbs, have nothing against them in general or my neighborhood in particular. Actually I like it here in this funky little sweet spot called Dream House Acres. Free from the covenants and cul de sacs that make me claustrophobic, I love the wide, hilly streets, the mid-century modern houses and the mountain views from my back patio. I don’t even mind the 20 minute commute when I choose to make it; I’m just a city girl. I need the proximity to the arts and cultural centers, the theaters, restaurants and farmers markets that pop up spring through fall. Most of all, I need to be around a wide variety of people and the sense of community that Denver offers.
Why do I bring this up, you ask? As a real estate agent, I spend my days and into the nights helping movers and shakers change up their lives. While I’m focused on the business of buying and selling homes that make these moves worthwhile, my clients are focused on the mental, emotional, physical and financial planning that leads up to a big change in your habitat. Following a page out of my own playbook, I’ve pulled out the Task Timeline Template which I lovingly bestow upon my clients.

I have completed phase one; Making The Decision. Phase two, Preparing the House, will take much longer; pulling up carpet, throwin’ down a little love on the hardwood floors, the painting, slight upgrades to the kitchen and baths…slight? Who am I kidding? And along the way,I will partake in my favorite slice of Virgo heaven— PURGING! When you think about it, there is no way to move without making a decision about every single thing you own. What stays, what goes, how many sets of socket wrenches do I really need, will I really wear this? Thank god I have a year.

Taking the time to wrap up the dishes and the memories this house holds, I will be mindful to keep the valuables and leave the rest behind. A fresh coat of paint, like a white sheet of paper, lets the new occupants write their own stories on these walls (not in the literal sense, I hope), as I move forward to the next chapter of life. Painting the new place.
If you’re ruminating on such things~ buying or selling, up or downsizing, Spanish Olive vs. Navajo White~ give me a call. We can share tips as we scrub grout and fantasize about the new digs. After all…I’m improving my skills just for you.

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Tracy Shaffer
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The Stats Behind the Real Estate Recovery

Nothing happens overnight. After years of struggling with the housing crisis and millions of Americans struggling to stay in their homes, it looks as though we are finally seeing some light at the end of the tunnel. I live and work in Denver so this is the market of my expertise. With boots on the ground here, I’ve seen signs of the housing recovery for the past six months and it just keeps getting better. The Denver real estate market keeps trending upward and the following article from Canyon Title gives you some of the nuts and bolts reasons why that is so.

According to Reis Analytics, expansion and growth continue in the Denver Metro Area. While the recession did not bite as deeply into Denver as into other high-growth economies, the losses inemployment were substantial. But with job creation running positive for about the past two years, a substantial portion of the overall loss has been redeemed. According to preliminary data for April 2012, provided by the U.S. Bureau of Labor Statistics (BLS), non-farm employment was up 2.0% (24,100 jobs) from 12 months prior and was up 3.8% (45,300 jobs) over 24 months.

Additionally, “Metro Denver is repeatedly recognized as a bright spot in the national economy, thanks to our diverse array of high-tech businesses, relatively low cost of doing business, active and highly educated population, and ability to attract and retain a young and vibrant workforce,” said Patty Silverstein, the Metro Denver EDC’s (Economic Development Corporation) chief economist. “Forbes recently ranked Denver fifth on its 2012 list of the ‘Best Places for Business and Careers’ and Colorado ranked eighth on the Enterprising States report list of states expected to grow and prosper in the coming years. Across the nation, others are taking note of the slow and steady-but promising-momentum in Metro Denver.”

If you, or someone you know, is interested in learning more about how TODAY’S real estate market relates to you, please shoot me an email, sign up for the newsletter or give me a call. I’d be glad to go over your options and serve your best interests.

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Tracy Shaffer
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Renters Renting Regardless of Rising Rents

The Denver rental market is more than just healthy; it’s got a rosy glow. With vacancy rates low, prices for rental properties have risen and according to Poppy Harlow of CNN’s Early Start, Denver is one of the top five cities for rent increases, 10.9% over the past twelve months. That’s great news if you’re a landlord!
As the market fell and foreclosures soared, I have been focused on helping clients build wealth through investing in rental properties. Where are you going to move when you lose your home? A clean, safe, single-family home to rent where their lives and families can live and recover from the ordeal they’ve been through would be ideal. Many of these tenants would have had no problem paying their mortgages had they stayed at the pre-adjusted interest rates, or the troubles that befell them has passed. They are willing and able to pay good rent for a well-kept property that makes them feel back in balance. A recent survey on the rental market bears this out.
After surveying property managers, TransUnion found that increasing prices aren’t keeping tenants away. Overall, managers reported they are doing better than the year before and are having an easier time attracting in residents despite the increase in prices.
The credit bureau’s June survey included 1,248 property managers across the U.S. who represented a range of property sizes.
Read the Survey: Rental Market Attracting Residents Despite Price Increases. and let me know what you think.
There are some very attractive deals out there for those who want a good annual cash-on-cash return on their investment that owning real estate investment property provides, but the market is moving swiftly. I would recommend you do as well. “I don’t want to be a landlord” you say? I can help you with that through a few concise classes or introduce you to some affordable pros.

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Tracy Shaffer
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News That’s New to the News…

Well, look who’s coming back around. With all due respect for the “Respected Media”, it looks as if they finally got the memo. Though real estate, like the weather, is hyper-local the mainstream types reporting on the national outlook finally figured out that the housing market is growing again.
Both The Wall Street Journal and the New York Times said this week that “it would appear that housing is making a comeback”. Of course, REAL Trends has reported eight consecutive months of increased housing sales and three months of increasing housing prices, while NAR reports increased unit sales during the same time frame and that prices are firming.
Until Case Shiller said that prices were turning around, neither of these news organizations would report such a thing; perhaps that’s just as well. It took them 12 months to report that housing was headed downward. In fact, they still report the downturn as occurring in the spring/summer of 2006 when in reality the beginning of the slide was in fall 2005. That is when unit sales began to slump on an annual basis. Yes, I’m being picky…
The media may not always be fair or accurate in their reporting on the housing market. Recent years of staff cutbacks across the nation’s newspapers have left researchers and reporters without the time or (perhaps the inclination) to really research any sources that don’t fit their preconceptions.
Overreliance on Case Shiller tend to mask a real turnaround in most housing markets. Thanks to consumers and investors alike, housing is starting the long road back to health. Those of us “on the ground” have witnessed six months of solid grown in the Denver housing market, with homes selling quickly at or above asking price.
Though I’m not ready to start the parade (my calves are still sore from today’s Independence festivities) or predict a huge breakout of double digit appreciation, the evidence is overwhelming that housing is on the way back. Could it be time to strike up the band?

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Tracy Shaffer
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Who Puts the Dream in Dream House?

I grew up in a Dream House; a California Contemporary, resting in the shadow of a graceful Fredrick L Roehrig home, built for publisher Andrew McNally in 1893. This home gave birth to the future Spanish Colonial Revivalist master, Wallace Neff, and was his childhood home. You can see from the picture where he took his inspiration. My home inspired me as well as I trace time, I see its watermark upon my life. Maybe it was the land, a Spanish grant called Rancho Los Coyote, or the publisher who purchased it and planted the 500 acres of olive trees, or the proximity to Disneyland that made me who I am today; writer/ dreamer/Realtor. It all begins at home.
Long summer days were spent in the ‘cement pond’ or playing Barbies on the warm deck coping. Is it any wonder I love Spanish Colonial Revival architecture, David Hockney and Dream House Acres? Check the vid and you’ll see what I mean. xoxo

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Tracy Shaffer
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Do As I Say: Easy Home Improvement Projects, Round I

Looking for to the warming weekends but not quite ready to head to the high country? Here’s a “Honey-do” list that will slough off those winter blues and spring you into the season. Whether you are preparing to put your home on the market or just want to lighten your spirits without breaking the bank, the first 4 simple home improvement tips will put you on the right track.
Closets- You’ve heard this a million times and you’ve probably done it only once. Cleaning out your closets can feel great, once you get over the idea that your favorite dress will ever come back in style or that you’ll really get back into a 2. (And if you did, wouldn’t you want to buy all new clothes?!) One by one, take your clothes out of your closet and toss what you don’t wear. Seriously. I’ve hauled things up and down from the cedar closet for years before I ever fessed up to the truth. YOU WON’T MISS IT. And the two things I regretted tossing, I forgot about. Now wipe down the baseboards inside and re-paint your closet white! Purchase plastic hangers (all the same color) and re-hang all of your clothes white to black facing left. Okay, there’s a bit of my control freakish mentality peeking out here but, this is like Virgo crack!
Baseboards- The lowly baseboard. Easy to scuff, last to get painted. Brighten up the whole house by washing and repainting these once a year. It’s one of those secrets that make a home feel bright and fresh. Personally, I assign this task to my children for any number of reasons. They like to make $$, they need to learn to do things other than shoot virtual zombies, and they’re already closer to the floor.
Garage- This one is especially important if you’re listing your home to sell. Clean out your garage! Ditch the rollerblades your kids have outgrown and the ones you bought to blade with them. I mean, those have only been worn once or twice, right? Once you’re clean, it’s time to paint. That white you used in the closets would look great, adding sparkle to the most under-improved part of the house. Power-wash the floors, hang your tools, rakes on that new pegboard and throw the skis up into the rafters. Now it’s time to shake out the camping gear, pump up the bike tires and you’re ready for summer activities!
Windows- One thing that I always notice about a new house is that all of the windows and window sills are spotless. Windows shine and make your home look the kind of clean that makes buyers bite. There are many products you can attach to your garden hose to spray the winter off of the outside and if you have a good squeegee, they’ll turn out squeaky clean. Now it’s time to tackle the inside glass and the sills. Those sills, by the way, need to be more than wiped down. Take your window cleaning solution, a towel and some cotton swabs to make sure you remove all traces of dirt from the crevices. It really makes a difference. If you’ve got an older home with wooden windows, try to make sure they all open safely and easily. Many times they’re painted shut or the ropes are broken: Buyers will find this out on inspection. And though it’s not normally a deal breaker, it will reduce your offer when a buyer calculates the cost of new windows throughout the house. There are companies who will come and make minor repairs or replacements and you can give them a new coat of paint once they’re gone. Just be sure you don’t paint the window shut again.
Okay, I’m going to leave you alone for now, I’m sure you’ve got enough to keep you busy. Remember, as your back is aching and you pop open that day’s end beer, that it’s the little things that make a home stand out in the market. Clean is one of them. Make that SUPER clean.

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Tracy Shaffer
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Denver’s Hot Real Estate Market?

Saying The Denver real estate market is hot is like saying that the U.S Congress works together in perfect harmony…except, the first statement is true. It will take a while before Denver home buyers believe it, but it is a Seller’s market…and a buyer’s market, too. Huh?
It sounds like a paradox but in fact it perfectly describes our current Denver Metro real estate market. Here’s how:
In the market below $300k where 80% of the homes are sold it’s a blistering seller’s market. You heard it right, a seller’s market! There are only three months of inventory sitting on the market right now, where six months is considered a normal, balanced market. There are simply more buyers than sellers right now and this is translating into multiple offers on listings, sales prices often well above asking prices, and marketing times plummeting.

Particularly hot is the market below $225k, which has only two months of inventory. It’s not uncommon for a listing to have 10 showings and a full price offer in the first week. There are a number of factors that have caused this dynamic, one of which is the dramatic reduction in the number of bank-owned and short sale properties on the market. This reduction in distressed inventory has left regular home sellers in a great position and contributed to the sizzling seller’s market.

Ok, so we know it’s a seller’s market. Then, how can it also be a fantastic buyer’s market at the same time? It is, because according to the National Association of Realtors the Home Affordability Index is at its highest recording ever. Just like it sounds, the HAI is a measure of how affordable homes are in a given area. It’s calculated by comparing the median price of a home in the Metro Denver market to the median worker’s income level, taking into account the current interest rate for a 30-year fixed rate loan. What this means is that the median income earner can buy more house today than ever before. Why? Because home prices, while rising quickly, are still well below their peak prices of 5-6 years ago and interest rates are at never-before-seen historic lows. Take it all together and the average home on the market HAS NEVER BEEN MORE AFFORDABLE.

So, while it seems like a paradox that it can be both a great time to sell and a great time to buy, it’s actually quite true. Call me and I’d be happy to explain more how we got to this state in the market and how you can take advantage of it.

Denver Metro Housing Stats.
Single Family:
Active Listings: 8,082 • Down 40% from Feb. ‘11
Under Contracts: 3,329 • Up 13% from Feb. ‘11
Solds: 1,978 • Up 12% from Feb. ‘11
Average Price: $270,821 • Up 2% from Feb. ‘11
Average Days on Market: 106 • Down 14% from Feb. ‘11
Condos:
Active Listings: 2,004 • Down 49% from Feb. ‘11
Under Contracts: 821 • Up 11% from Feb. ‘11
Solds: 517 • Up 13% from Feb. ‘11
Average Price: $161,143 • Up 4% from Feb. ‘11
Average Days on Market: 101 • Down 22% from Feb. ‘11

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Tracy Shaffer
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“Inspect Yourself”

…with all due respect to the Staples Singers
You’ve found the perfect house! Redone tip-to-toe! That kitchen with the gleaming stainless and the leathered granite is perfect, the master suite, divine, and the water feature will provide a soothing soundtrack for starlit summer nights on the back patio. It’s your dream house… until you see the Inspection Report.
Part “honey-do” list, part diagnosis, a home inspection is the best way to make sure your dream house isn’t a nightmare with a fresh coat of paint. No one wants to shell out $300-$600 to have someone crawl up in the attic and scope your sewer line, but believe me it may be the best money you spend in your home-buying (or selling) process. Last week, I thought for sure we’d fall out of contract once I delivered the Inspection Objection—it was the BIG LIST, and it had to be done by the seller if my buyer was going to go through with the purchase.

1. New roof
2. Sewer line offset repaired
3. Radon mitigation system installed
4. Electrical work on aluminum wiring
5. We overlooked the aging water heater.
So… now you know. What’s next? She had beaten the competing offers so she was paying a fair price, market value, certainly no bargain. With little room for $15-20k worth of repairs, especially on items which are considered “health and safety” issues, which can hold up the loan if left unattended, the buyer has some decisions to make. And I have some questions to ask, the one that tops the list…
Whose problem is it?
Thinking we might be at risk of losing the house, I sat with my client over coffee and asked her how she felt about all of this.
1. Do you love this house enough to stay in the deal?
2. Are you willing to do the work yourself?
3. What on this list is most important to you?
We worked our way through her options, she made her decisions, and I sent over the “final four” on our list of objections to the listing agent. “Do you think they’ll go for it?” my buyer asked, uncertain. “We know what you want, all we can do is ask“ (And I love the ask).
If a seller is motivated, your requests are not unreasonable, and the agents are good at what they do, chances are you can find a solution that suits all. In our case, that’s just what happened, but it ain’t always the case. So… how do you avoid the less harmonious outcome to this situation?
Sellers usually have a pretty good idea about what is wrong with their homes. The problem is they are used to living with that squeak in the floor, the drip in the downstairs bathroom and that little flicker in the dining room light fixture when the kids are on the computer. Many times, they’ll spend time and money preparing to put their house on the market, only to find a slew of hidden problems upon the Buyer’s inspection and a bucket of resentment along with them. It might be a good idea to have a home inspection BEFORE you list your property; that way, you’re able to make pre-market repairs or price accordingly if you choose not to. Buyers write offers based upon their emotional response to a home, but they walk away from contracts based upon practical matters. Chances are, they’ll feel better about a coat of paint or buying a new refrigerator than installing a radon system or a sewer repair. For Sellers, it’s “Be Prepared” and for Buyers “Beware”. In either case you will forget about the $300 check soon enough, but there will be that night at 2 a.m. when you’ll remember the mold report and wonder if it’s growing in your drywall… and if your buyer’s going to find it.

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Tracy Shaffer
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BABA RAM DASS AND THE REAL ESTATE MARKET

It took Dr. Richard Alpert, Timothy Leary and countless hits of LSD to learn one simple truth: Be Here Now. So what can the psychologist-turned-spiritual guru, Baba Ram Dass, teach you about today’s Denver real estate market? BUY. HERE. NOW.
With nary a trace of mind-altering substance in sight, I can honestly tell you that the time to list your home for sale in the Denver metro area is NOW.
“How now” you say?
• Because EVERYONE else IS WAITING until spring.
• Because buyers ARE out looking.
• Because SHOWINGS ARE UP and inventory is down.
• Because all FOUR OFFERS I wrote in January created a BIDDING WAR.
Now, we all know war is not the answer but in real estate, a competitive market results in sellers driving their purchase price above their asking price. At this point (Jan/Feb, so I’m being here this quarter) the demand exceeds supply and buyers are flying out to snatch up well-priced properties like savvy shoppers after Christmas at Filene’s Basement. There is simply not enough out there. And I’m not just talking of the under-$200-first-time-buyer/investor end of the market. A home priced at or around $300k is likely to move well, despite the common seasonal perception, the Super Bowl or the weather. On Friday, as constant snow flurries were rapidly accumulating inches, agents were rushing out to show homes in order to present their offer s before the “Highest & Best” deadline. (I know this, I was one of them.) Today I submitted an offer for a buyer on a property, sight unseen. The home fit his criterion and he’d been beaten out three other times, so today we take no prisoners.
If you are sitting on the sidelines, waiting for the winter storm to pass before you list your house, remember… you could be pushing up daisies before the crocus pushes through the frosty ground. Now, I don’t mean that in the literal sense of the metaphor, but in the BE HERE NOW spirit.
If you’d like more information on the value of your house, trends in your neighborhood, or a yoga class near you, send me a vibe, a text or find me on Facebook. As the guru said…“We’re all just walking each other home.”
― Ram Dass

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