Real Estate Archives - Page 5 of 12 -

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.

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!

January 30, 2014/by Tracy Shaffer

Admit 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.

December 24, 2013/by Tracy Shaffer

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.

November 14, 2013/by Tracy Shaffer

Affordable homes in Denver, Buy a Home, Community, Denver, Denver homes for sale, Denver Real Estate News, First Time Buyer, For Sale By Owner, Homes for sale, Housing market, mortgages, Musings on Life, Real Estate, Realtor, Sell my house

“Your Realtor for Life” A Love Story

Sitting in a real estate marketing seminar in a downtown Denver hotel, fluorescent lighting, those stiff, stacking chairs…The peppy presenter popped off a proposition. “What if you are more than their agent? What if you become their ‘Realtor for Life’? Still new to the whole real estate thing, I pondered this process and then…
I met Kelly on a late summer Denver day. We discovered, as we played in the park, that her eldest daughter would be joining my first son at an elementary school come fall. What we didn’t know was that we’d spend our lives together.
Then I met Felipe. He was Kelly’s husband. Of an autumn afternoon at the schoolyard, we chatted to the strains of swings on metal. He learned I was in real estate, I learned he was a hairdresser. We met a few weeks later to talk about selling their rental property, which I did. It was my first listing appointment, and he became my hairstylist.
The kids moved up a grade or two, we’d had some backyard barbecues, another child was born… ya know… life. I was offered a seat at their kitchen table. It was time to move along down romance road, time to sell the family home. Which I did.
Felipe met Molly. Molly need to sell her home. So I did. Kelly moved in to a rental, Molly and Felipe moved into a rental. We changed schools, I changed hairdressers—not for any particular reason, just because that’s what women do— we exchanged numbers and kept in contact. No… we kept in touch.
And where were we then, a pool, maybe? I remember Kelly in the sunshine, loading the kids into the van and waving from the carpool lane. “Call me” she motioned. And I did. It was time to buy a place of her own, where she could build a home and some equity. We found it.
Then Kelly met Matt. He was a software developer and you could see by the look in her eyes that something extraordinary was developing. (You know what’s coming don’t you?) They weren’t really looking when the called me, but they saw this home… She has her three, Matt has two of his own, so it had to be roomy. And special. And it is.
So special, in fact, that they got married on the steps of their City Park South home and threw a block party reception that people are still talking about! The evening was magical; Matt and Kelly dancing in the marquee-lit street to the Trubelos, the young ones are rapt by the aerial ballet, the teenagers wrapped in one another, and the Governor chatting with the townsfolk.
Sitting at a table, Molly and Felipe hold hands as he catches up with his past life and the people who people it. Three days later we closed on their new home together.
Ah, you can’t beat love.

October 26, 2013/by Tracy Shaffer

Art, Arts & Culture Performance, Cultural Events, Denver, Denver Happenings, Denver Theatre, Real Estate

Wonderbound Jumps into Innaugural Season, Wins Innovator in Arts Award

I ambled downtown to the Junction Box, the new Wonderbound studio, to check out the space, witness the alchemy and have a chat with the wizard himself. The doors wide open policy at this vibrant new studio is perhaps the defining quality of the Wonderbound company. Walkers, wanderers and wayfarers are welcome to watch as Garrett and his lithesome dancers spread their joy, leaping tirelessly from repetition to repetition, stretching for perfection. Rush hour traffic idles, a homeless neighbor stops mid-shuffle and sways dreamily to the music. It’s all part of the soundtrack of community.
One of only a handful of American choreographers to be constantly presenting new works, I sat down with Ammon post-rehearsal for their new show, A Gothic Folktale to talk tutu. (I love when he does that).

TS- So, Innovator… about this award.
GA- Oh my god, it’s humbling. I mean, I’ve had so many opportunities to meet and work with some amazing people. I’m just a part of something much bigger.
No false modesty here, when Garrett speaks his authenticity draws you into his world. His vision is keen, his voice is clear and the feeling is that of an artist at peace with passion.
TS- Being a Realtor, I have to ask. How have things changed in the new space?
GA- Oh, completely, it truly fits our identity; the sense of urgency that urbanism creates, it expands on our relationship with our audience, and the need to make dance accessible.
TS- Denver really responds to you, like you’re our dance company. Why do you think that is?
GA- Hmmn. That’s nice. I think part of it is about how your art engages the world, your personal world and the larger. So dance, movement, exists in relationship to space, to humanity, but it also pushes the internals. I feel really connected, not just to the concept of connectedness, but to the energy of that union which exists in community. It’s like you embrace it, and—
TS- You build relationships.
GA- Yes.
TS- So the Arts Innovation Award is kinda like the city hugging you back.
GA- It feels that way, yes.
TS- Why do you think you’ve succeeded in creating this kind of intimate relationship with Denver?
( a long pause.)
GA- Because we’re not afraid to fail. Because we work really, really hard. And because at the end of the day, we want the same thing as everyone else in this city: to be fulfilled, to do something we’re passionate about, to be able to make a living doing what we love.
He looks out the open door at the river of cars.
GA- Isn’t that what we all want?
TS- What do you want?
GA- I want to keep pushing myself, of course. I don’t want to do the same thing because it’s that thing, so there’s that part. If I can build and sustain this company so that its members can live, you know, buy a house and really make this a career, that would be a great success.
TS- I love that. Especially the ‘buying a house’ part.
(laughs)
The Mayors Awards for Excellence in Arts and Culture will be presented to the recipients on November 14 from 6:30-8:00 PM at the Studio Loft. The event is free and open to the public. http://artsandvenuesdenver.com/events-programs/mayors-awards/
The magic of autumn burns golden in its fiery leaves, reflecting on Denver’s cultural scene as it springs back to life. While the rest of us spent the summer at the beach and the ballpark, Denver’s creative community has been crafting their 2013-14 offerings. A highlight for me is the launch of Wonderbound’s inaugural season as they leap to life with a new work called A Gothic Folktale. The magic in Artistic Director, Garrett Ammon’s, choreography is often born in collaboration with other carefully selected artists, this time Denver musician, Jesse Manley, and mentalist Professor Phelyx are the lucky partners in the sublime. The effect is more than just magical, with its haunting strains and evocative story, the show is mysterious, engaging and even soothing as you lilt away to another time and place. The Wonderbound website vows to invert my reality: it was definitely twisted at the Sunday show. I took my fourteen year old son (not always an easy thing to do) and even he was transfixed. We were discussing the performance, elements of dance, the music and illusion, and then he pops out with my favorite observation. He looked at the audience that Wonderbound brings together, mix of ages and styles, and says, “Mom, this is the most interesting looking group of people I’ve ever seen in one room. It’s like the all have a really good secret in life.” Which they do. Well done, Mr. Ammon.
A Gothic Folktale plays this weekend, October 26th & 27th at the Parker Arts and Cultural Center. Tickets available.

October 24, 2013/by Tracy Shaffer

Featured Properties, Real Estate

6606 S Elm Circle

October 3, 2013/by Tracy Shaffer

Affordable homes in Denver, Buy a Home, Community, Denver, Denver homes for sale, Denver Real Estate News, First Time Buyer, For Sale By Owner, Homes for sale, Housing market, Lifestyle, Lodo, Musings on Life, People, Real Estate, real estate market trends, Realtor, Sell my house

Sellers, Buyers, Pants on Fires: and the truth about real estate agents.

Real estate agents are not used car salesmen. We’re not interested in selling you a car [or house] and getting you off the lot before the wheels fall off, au contraire.

Why, if I had a dollar for every time I’ve kept the wheels on a deal….

There are a lot of misconceptions in the real estate business, and then there are the facts. In his book “Buyers are Liars and Sellers Are Too”, author Richard Courtney humorously debunks the irrational thinking that wraps the brains of homeowners and wannabe homeowners tighter than packing tape. From my old wooden desk his views are quite funny, but in the real world of real estate… not so much.
Courtney’s point is not that anyone’s intentionally dishonest, but that truth is mutable. For example, the laundry list of buyer “home must-haves” becomes something different after viewing twenty houses in their target area and price point. And those sellers, armed with Zillow statistics and trusty advice from the FSBO neighbor who sold for 100k less, believe all they have to do is name their price and stick a sign in the yard, knowing they’re probably overpriced. Truth comes later, when it’s still on the market long after the open house balloons have wilted and the flyers are gone from the brochure box. And it stings.
The first time I meet with a potential client, I ask them for permission to tell the truth. Invariably they smile, nod and agree they’d want nothing less, but sometimes as the process unfolds, selective amnesia slips in. Whether the market is up or down, favors buyers or sellers or you like what I have to tell you or not, here’s the truth.
Sellers:
• Your house is only worth what a buyer is willing to pay for it.
• Well priced homes sell quickly, often over the asking price.
• If you don’t have showings, you can’t sell your house, and if you’re priced too high you won’t have any showings.
• If you’ve had 10-15 showings without an offer, you’re overpriced.
• The colors you chose to match your belongings look too personal once the moving truck pulls out the driveway.
• You may hate beige but buyers love it.
• I cannot make anyone buy your home.
Buyers:
• I cannot make you buy a home you don’t want to buy.
• If I could do either of the last two I’d be writing the book on “Magical Realtorism” from a beach in Bali *waves to cabana boy*.
• You may want everything on your “dream house” list, but you might not get it all. Hopefully you’ll come very close.
• Realtors want you to pre-approve with a lender because it is in your best interest, not theirs (though it doesn’t hurt me either).
• Buying a home without an agent does not mean that the seller will automatically knock my commission off of the price. (Better to have someone working for you, especially when they have someone working for them.)
Homes do not sell because you put a Saint Joseph in your garden or your Mayan healer cleansed your karma with a smudge stick and an eagle feather. There are more than 20 people in the average residential real estate transaction. When you are looking to buy or sell you need an advocate to manage the timeline, the deadlines and the multiple personalities. Dream homes are found and sold because you’ve hired someone who knows their field, the market, the law, and helps their clients buy and sell their homes every month.
And that’s no lie.

September 26, 2013/by Tracy Shaffer

Affordable homes in Denver, Buy a Home, Community, Denver, Denver Broncos, Denver homes for sale, Denver Real Estate News, First Time Buyer, Homes for sale, Housing market, Real Estate, real estate market trends, Realtor, Sell my house

Fall Stays Strong in the Denver Housing Market

Autumn looks golden for the Denver housing market, as sales remain brisk. Following the hot-as-wildfire spring of 2013, summer found balance with the seasonal increase of inventory, with no cooling trend in sight as fall turns in a solid start to the 4th Quarter. Home sellers are glad to be back in the game, while motivated buyers are finding a bit of relief from the frenzy as the after school market brings a more measured pace. The latest data from Metrolist®

points to an unseasonably strong local market heading into the fall selling season. High inventory levels and homes sold numbers coupled with a leveling of average home prices indicate an extended and robust local market. By all year-over-year comparisons, the Denver market is significantly healthier than it was at this time last year. Twenty percent more homes closed in August 2013, over 5,500, than in August 2012. “We expect to see continued high sales velocity and inventory numbers well into the winter months,” noted Metrolist President and CEO Kirby Slunaker.
Available homes on the market increased over 6 percent in the past 30 days, providing a stabilizing factor for the market overall. While the available inventory of homes and condos continues to increase over prior months, there is still less than a 7 weeks supply of homes and condos.
“The impact of seasonality may not be as significant as we’ve seen in years past,” said Slunaker. “Increasing inventory spurred on by a hot early buying season will continue to provide sellers and buyers prolonged opportunities late into the year.”

Average sold prices decreased one percent month-over-month, averaging just over $312,000, but home prices are up nine percent from this time last year. Meanwhile, the average days on market (DOM) was recorded at 39 days, down 39 percent from this time last year. The low DOM figure indicates a quick turnaround time and continued competitive demand for Denver-area homes.
Slunaker continued, “Rising mortgage rates have impacted the local market slightly, primarily in the mid-level market. Luxury listings are still seeing significant strength, while first time and entry level buyers seem to have taken the changing rates in stride.”

If the real estate market continues to look as good as the Denver Broncos… Super Bowl party’s on me!

September 23, 2013/by Tracy Shaffer

Art, Arts & Culture Performance, Buy a Home, Community, Denver, Denver Center Theatre Company, Denver Happenings, Denver homes for sale, Denver Real Estate News, Denver Theatre, First Time Buyer, Homes for sale, Housing market, Personal power, Real Estate, real estate market trends, Realtor, Sell my house

What Eve Harrington Taught Me About My Real Estate Business

Working as a professional actress has taught me many things: tenacity and humility for one. (Ha!). Along with the starring roles and the smaller roles come the understudying gigs. They’ve kept me on my toes, fully insured and employed. Largely the experience hasn’t been in the glamorous, deceitful, clamoring-for-fame vein portrayed in the 1950 film classic, All About Eve, mine have had been more in line with the Girl Scout motto.
Three decades in the industry has kept me ambitious, created a strong work ethic and instilled a somewhat healthy insecurity that feeds my drive. Pounding the pavement, perpetually prospecting and practicing persistence is the perfect training ground for a career in the real estate business, but nothing could have prepared me for spring of ’13.
After Romeo & Juliet, my first foray into the First Folio, I was looking forward to a seasonal ramp up in the real estate world and my end of season gig at the Denver Center Theatre as understudy in “Other Desert Cities”. Shoulda been a cakewalk, it was not.
The rapid acceleration of the Denver housing market coincided with my ascension from understudy to starring role and the first audience in just eight days. (Actually it was a 5 character ensemble play, but ‘starring role’ does sound, well… more dramatic). Time to drill down and focus on my lines; stringing together the beads of this complex and demanding character would come later. I was hitting the wall as we hit our “10 out of 12”, theatre speak for long-ass day, when an offer came in on my hot Congress Park listing. Negotiating a deal and my way around the stage, I had to find my clients a replacement home. Dinner breaks became showing appointments, opening doors as my lines streamed through my headphones, I existed on chocolate bars and power naps until… “You’re on, Eve.”
The show opened, the clients closed on their new house and the actress/Realtor spent a week in Vail recuperating, which is important as the pace has not slowed. The message of my Girl Scout leader, BE PREPARED, has a whole new meaning with the real estate market at a break neck pace. “Prepared” to drop what you’re doing to snap up a showing on a snappy place, “prepared” with a purchase contract ever-ready on the tablet, “prepared” to list a home on Thursday, hold it open on Saturday and present offers on Sunday. “Prepared” went from having snacks and water in your ditty bag to performing the above tasks for multiple clients, sleeping very little, and loving it. If you’re looking to buy or sell a home, or both, I still have some treats in the ditty bag. Mostly chocolate.

August 3, 2013/by Tracy Shaffer

Real Estate

Sometimes I Cheat

Blogging is serious business. It takes more than a good idea; it’s time, intention, research and if done well, stimulates a conversation. It also stimulates business, which leaves me with less time to blog. Sometimes I cheat.
Rather than make you anxiously await an opening in my schedule *inserts tongue into cheek*, I’ll share some recent articles from the experts at REColorado explaingin the current Denver housing market as well as (or better) than I.
In chronological order so you can see the trend:
March 2013- Homebuyers Challenged, Sellers Reap Benefits
April 2013- Sellers Seeing Unprecedented Number of Offers
June 2013- Surge in Available Homes Boost Denver Home Sales
July 2013- Increase in Available Homes Relieves Denver Market (no it’s not the same articls)

We’ve seen a beautiful upsurge in spring sales, followed by an increased summer inventory. Agents, looking to fill a hungry buyer’s need, have driven prices into a healthier range while the strong move-up wave opens up homes for sale for the first time home buyer. Interest rates have risen and dipped back again, giving us hope and a warning. More than a Realtor’s mantra, the time to buy is now. And if you’re looking to move, we’d love to have your listing. Not a lot of out there, and the good goes quickly! Take your time to look through the links and call with any questions. There will be a quiz.
[Thanks to Gary Bauer and our friends at Metrolist for doing the brainy stuff.]

July 23, 2013/by Tracy Shaffer

Denver Real Estate Market Trends

Housing Market Predicted to Rise in 2014