Homes And People

Amazing home on a spectacular lot!

noreply@blogger.com (Saber) — Fri, 15 Apr 2022 12:30:00 +0000

For Sale: 6071 S Franklin St. Centennial, CO 80121

$2.4M

Once in a lifetime opportunity to purchase a special home on an amazing lot. Most homes in this area are passed down from generation to generation and rarely come on the market! A rare find with water-front property in Metro Denver. Two acres with the Big Dry Creek running through your backyard. Located less than 5 minutes to shopping, restaurants, and award winning Littleton Public schools. The home consists of 4 bedrooms and 3 bathrooms. 2200 Square feet above ground and 750 Square feet in the finished basement. Once you turn on Franklin St you feel like you are in the country. One of the few lots in this special enclave of homes on acreage in the middle of the city. Only a couple of blocks and you will be on the Highline Canal trail with access to 71 miles of continuous trails. Franklin is a dead-end street at the Highline Canal which leads to a quiet street with mostly foot traffic, bikes and horses. Located within walking distance to Goodson Recreation Center, the brand-new Gudy Gaskill Elementary School (opening Fall of 2022), and the brand-new Franklin Pool. With a neighborhood pool within walking distance, there will be plenty of summer fun with a summer swim team, slides, diving board and splash park. deKoevend Park is one of the loveliest parks in all of Denver Metro and it is only a few minutes away. Completely updated with a new kitchen including a large island featuring honed granite and gas cooktop. Main floor is very open with a great room, eating space and kitchen for enjoying family time together. Primary bath has a soaking tub and large shower. The Primary bedroom has access to a large deck overlooking the creek which includes an electric awning over the deck. Very private and quiet. Two washer/ dryer connections - one upstairs and one in the finished basement. Office with two built-in desks (great to work from home) and cabinets so you have somewhere you can drop backpacks, coats, etc. as you enter from the garage. Storage abounds with plenty of cabinets throughout the home. Enjoy the large oversized two car garage with additional storage in attic. Shed for additional storage outside. Additional upgrades include: reclaimed hard wood floor, new paint, newer HVAC and water heater. Wood burning fireplace with brick wall. Natural Gas grill included. Covered front porch and covered back patio. Many fruit trees already bearing fruit. If you want to own chickens, bees, or garden - there are endless opportunities. Or let the pasture remain natural and have very little maintenance. Live in the home as-is or build your forever dream home on this one in a lifetime lot!

Call 303-249-2060 if you have any questions

House for Sale in Green Mountain

noreply@blogger.com (Saber) — Wed, 04 Sep 2019 12:39:00 +0000

12511 W Dakota Dr. Lakewood, CO 80228

Updated and unique ranch in Lakewood. Close to the highway and the hills. 1197 Sq feet, 3Bd, 2Ba on the main floor, plus a full open basement. New roof, Newer 220V Electric Panel, Newer windows and patio door, Newer Furnace, Sprinklers, A/C. Beautiful refinished Hardwood floor, new paint in/out, new interior doors, nice kitchen with quartz counters and stainless appliances. Large open basement and extra room for parking on the side of the house. Shaded back yard, and Move in ready!

February 2019 Denver Metro Market Statistics

noreply@blogger.com (Saber) — Thu, 14 Mar 2019 15:43:00 +0000

According to the latest marketing statistics from REcolorado, the Denver Metro market hit a five-year high for new listings in the month of February, giving buyers more options, especially in the $300-500,000 price ranges. There is currently 7 weeks of inventory, 1 week less than January and 1 week more than last year at this time.

In February, home sales decreased 1% from last year, but are up 16% from January, which is a sign we’re heading into the busy buying and selling season. The number of homes that moved to Under Contract in February was 10% higher than last year, indicating it was an active month.

Additionally, homes are continuing to sell quickly, in an average of 49 days, five days faster than last month and last year at this time. The rate at which home prices are increasing continues to moderate, with the average price of a single-family home rising to $464,354 in February, up 1% year over year.

Showcase your market expertise! Be sure to share this consumer-friendly market statistics wrap up on your social media channels.

October 2018 Market Analysts for Home Sales in Metro Denver

noreply@blogger.com (Saber) — Wed, 24 Oct 2018 15:39:00 +0000

In keeping with past seasonal trends, the Denver Metro Area housing market saw fewer home sales in September 2018. Home prices continue their steady rise, with average sold price in September 7% higher than this time last year. During the fall and winter months, home buyers and sellers can take advantage of a slower pace or make preparations for next year.

Seasonal Cooling in the Colorado Housing Market

As the weather cools, we often see a seasonal slowing in the Colorado housing market. Fewer homeowners are interested in moving into a new home during this time of year. This time is often spent preparing for winter, knowing the holiday season will soon be upon us.

In September, 4,229 homes sold across the Denver Metro area, 25% lower than last month. There was also a decrease in the number of homes under contract, 5% fewer than last month. However, year-to-date sales are only 3% lower than this time last year.

If you want to buy or sell a home now…

Home buyers can benefit from a slower pace this time of year. Homes spent 6 days more on the market on average this September compared to last month, with a median of 14 days on the market. That means that more than half of the homes on the market continue to sell in less than 2 weeks.

There is also more inventory from which buyers can choose. At the end of September, there were enough homes for sale in the Denver Metro area to last 9 weeks.

Home for sale at the The Knolls in Centennial

noreply@blogger.com (Saber) — Tue, 23 Oct 2018 15:01:00 +0000

Address: 2464 E Fremont Ct. Centennial, CO 80122

Virtual tour: https://goo.gl/TbWMiz

Cell: 303-249-2060

saber@homesandpeople.com

Price: $399,900

This is the one you've been waiting for! Highly desirable Centennial 2 story townhome in a quiet neighborhood. Award winning Littleton Public Schools. Light and Bright- new paint, new kitchen cabinets, quartz counters , and stainless steel appliances, new doors, new hardware, beautiful railing, new light fixtures, new tile, newer furnace, newer water heater, newer windows, new roof, new carpet and pad, and much more. This home has an open concept which is functional and is full of upgrades at every turn: Hardwood flooring, a wood burning fireplace, whole house fan, A/C.. Community pool, tennis courts, walking distance to Southglenn, Better hurry- This one won't last!

Details: The house has 3 bedrooms upstairs, 2 bathrooms, 2 car garage, partially finished basement for a total of 1694 finished square feet. HOA fee is $160 per month. Location: The Knolls in Centennial.

Have You Considered a Post-Closing Occupancy Agreement?

noreply@blogger.com (Saber) — Tue, 18 Sep 2018 00:00:00 +0000

It’s a crazy market out there. Buyers are doing anything they can to secure a home, but inventory is low because potential sellers don’t want to be buyers in this market. And when a seller does list their home, their biggest fear is they won’t be able to find a new home in the time they must be out of their old one. A post-closing occupancy agreement might just work for your buyer who’s looking to make a stand-out offer, and your seller who’s worried about the timeline.

What is a post-closing occupancy agreement?
A post-closing occupancy agreement is when a seller retains occupancy of the property for up to 60 days after closing occurs, the tactic isn’t often used, but in this market, brokers consider it an ace in the hole, if navigated correctly.

Evaluate
Not all buyers are good candidates for the post-closing occupancy agreement, and it’s important to understand the clients’ current living arrangements. If the buyers are living at an extended-stay hotel, Airbnb, month-to-month apartment, etc., and can lengthen their stay or find another budget-friendly, temporary living arrangement, the post-closing occupancy agreement could be something to consider.

Similarly, there’s a note of caution on the seller’s side. Again, not all buyers can accommodate a post-closing occupancy agreement. If you list it as an upfront requirement, you run the risk of decreasing the number of offers you receive.

August 2018 Market Statistics Home Sales for Metro Denver

noreply@blogger.com (Saber) — Sat, 15 Sep 2018 13:34:00 +0000

Greater Denver Metro home sales continued to slow slightly, which is typical for this time of year, especially after a strong summer selling season. Year to date, homes sales are down just one percent as compared to last year. Most notably, sellers continued to add new listings of homes for sale to the market—4 percent more than last month. That, combined with homes staying on the market about four days longer than last month, could give your buyers more options and more time to browse.

Watch the August 2018 market statistics video above and look down below for infographics and reports.

Home Sales
In August, 5,455 homes sold, 5% lower than last year and flat as compared to last month. Year to date, sales are only 1% lower than this time last year.

There was also a decrease in the number of homes going under contract. Throughout the month, contracts were placed on 5,297 homes, a 3% decrease from last month.

Home Sales Year-Over-Year Change

August 2017 -- 5,731
August 2018 -- 5,455
-5%

August 2018 Denver Metro Average Sold Price
Sold Prices
Average home prices saw a decrease for the second consecutive month. In August, the average sale price of a single-family home was $473,115, 1% lower than last month. As compared to August 2017, home prices are up 9%.

The average price of a single-family detached home was $523,018, up 9% year over year. Prices of condos/townhomes were also up 9% from last year, at $345,674.

Sold Prices Year-Over-Year Change

August 2017 -- $432,722
August 2018 -- $473,115
+9%

August 2018 Denver Metro New Listings
New and Active Listings
In August, 6,688 new listings of homes for sale were added to the greater Denver area market, 4% more than last month and 4% more than last year at this time. The count of active listings of homes for sale continued to increase. In August, the number of active listings reached 8,363, 4% higher than last month and 30% higher than this time last year. We continue to have 7 weeks of inventory, unchanged from last month.

New Listings Year-Over-Year Change

August 2017 -- 6,431
August 2018 -- 6,688
+4%

August 2018 Average Days on Market Denver
Average Days on Market
In August, homes spent an average of 33 days on the market, 4 days more than last month and 2 days more than this time last year. On average, single family detached homes were on the market for 29 days, while condos/ townhomes were on the market for 42 days. The median amount of time a home spent on the market in August was 11 days, 2 days more than this time last year. More than half of all homes on the market continue to sell in less than 2 weeks.

Days on Market Year-Over-Year Change

August 2017 -- 31 days
August 2018 -- 33 days
+2 days

August 2018 Home Sales by Price Range
The Greater Denver Metro Market by Price Range
The $300-400,000 price range continues to have the most home sales and new listings; however, activity in this range has seen continued slowing, while activity in the $400-500,000 range has gained momentum. Compared to last year, sales of homes priced $300-400,000 decreased 9% and there were 1% fewer new home listings brought to the market. During the same time period, sales of homes priced $400-500,000 increased 8% and new listings were up 16%, all while average days on market decreased by 2 days.

Pricing your Home For Sale

noreply@blogger.com (Saber) — Sat, 15 Sep 2018 13:13:00 +0000

If you’re considering selling your home, one of the most important decisions you’ll need to make is how to price your home. Price too high, you may miss out on potential buyers or sit too long on the market. Price too low, you may leave money on the table.

Here are some tips to consider as you work with your agent to price your home for sale.

Ask for a CMA
Ask your REALTOR® to provide a Comparative Market Analysis or CMA. In this analysis, your agent will compare your home with other similar homes that have recently sold. They can also weigh in unique features of your home, housing market trends, and desirability of your neighborhood for a comprehensive home valuation. All these factors are used to determine the best list price for your home.

While online home value calculators can provide initial insight, they should not be used to price your home for sale. These calculators are only as good as the data provided. They cannot weigh unique factors, like special features of your home or neighborhood, nor trends in the housing market.

An agent’s CMA is the best method to determine the list price for your home. Your agent will consider many important factors, from the housing market to home features, to list your home for sale at the price that will bring the best offer from buyers.

Don’t get Personal
Selling your home is an emotional task. As the owner and occupier of the home for years, your value of the home may differ from that of an outsider. If you watched your kids grow up in the home, celebrated birthdays, hosted family gatherings, and painted the walls your favorite colors, you have value in the home that cannot be expressed in dollars.

That value, while priceless to you, has no worth to a prospective buyer. That is why you should never attempt to price your own home.

Agents are not emotionally or personally attached to your home. That means they can see it as a prospective buyer might. While they won’t see the bird-egg blue walls as a memory from 10 years ago, they will see the in-demand crown molding, desirable floor plan, and staging potential.

Let someone who has no attachment to your property take on the task of pricing your home. A more objective viewpoint can lead to a more strategic price and a higher offer.

If you’re not currently working with a REALTOR, connect with a local real estate agent.

Understand the Local Housing Market
The best price for your home depends on demand from buyers. Understanding the current housing market in your area, including trends and seasonality, can help you when listing your home for sale.

Your local REALTOR can provide useful statistics and analysis for your city. They also consider factors like your neighborhood desirability and micro-trends in your local area. They’ll even help you determine the best time to list your home for sale. Talk to your real estate agent about housing market trends that could impact your home sale.

When it comes to pricing your home for sale, a REALTOR provides valuable insight. Your agent provides a comprehensive valuation, detached perspective, and real estate experience that is incredibly valuable for home sellers.

I love where I live

noreply@blogger.com (Saber) — Wed, 23 May 2018 13:56:00 +0000

I was going through my blog and I came across this feel good article that makes me smile every time I read it: 40 Reasons I Live Where I Live It was originally published in 2012 but the author took it down and I am glad I kept a copy of it.

I have lived here since 1991 and I love where I live, and would not trade it for another place.

I can eat at a new restaurant every night and never eat in the same place.

I'm 25 minutes from an amazing aquarium, a half-dozen fantastic theaters, the airport, a stunning natural history museum, a massive art museum, multiple shopping malls, every type of gym and fitness center you could ever need, and MORE.

If I wanted to ride my bike for thousands of miles every year without riding on the road a single time, I could. The cycling infrastructure here is phenomenal.

We don't just have one good Zoo, we have several of the nation's best Zoos and sanctuaries, including one that's build entirely on a mountain.

The culture of music and art is strong and thriving, finding performance art, murals, and so much more is effortless.

Beer: Lot's of really delicious beer. Whiskey too.

Local. Period. I can live my life entirely supporting local businesses, locally grown food, locally owned/operated restaurants, there's even locally designed and built 3D printers and space planes.

Almost every major technology company has at least an office here.

Every weekend there's a free activity or event going on. https://www.facebook.com/FreeThingstodoinColorado

The snowboarding is incredible. The hiking is to die for.

Taking photos here is like cheating, almost anything you take while out is dynamic and gorgeous.

Sand dunes, snowy mountains, winding rivers, lush valleys, it goes on and friggin' on.

The air is clean, dry, and crisp. The lack of humidity means the heat isn't so bad, and you’ll never have a bad hair day.

On top of that, this is the happiest city in the country, and while people seem to forget that, when I moved here I was in shock at how nice most people were to me.

I live in Centennial, Colorado.

Silicon Valley house on the market for only $800K!!! What in the world?

noreply@blogger.com (Saber) — Sun, 15 Apr 2018 16:32:00 +0000

Eight hundred thousand dollars is certainly not an unheard of price in the world of residential real estate, as prices shoot up in hot markets such as New York, the District of Columbia, and the San Francisco Bay area.

But what that amount buys in San Jose, a main node of Silicon Valley and its soaring estate prices, drew a second look: a debilitated, burned shell of a home on a small overgrown lot of the type your parents might have warned you to stay away from.

The median home value in San Jose is $1,078,300. That's up 23.9% over the past year, and is predicted to rise 8.4% over 2018. The fact that severe fire damage only bumped that average down to $800,000 says a lot about the area's market, where available housing is sparse and residents prioritize proximity to their employment.

PS: I just checked about an hour ago, so by the time you read this article know that the house is already under contract. I guess Metro Denver and Centennial prices are not that high after all :(

How much you would need to afford rent in Colorado?

noreply@blogger.com (Saber) — Sat, 14 Apr 2018 16:24:00 +0000

There is nowhere in this country where someone working a full-time minimum wage job could afford to rent a two-bedroom apartment. Downsizing to a one-bedroom will only get you so far on minimum wage. Such housing is affordable in only 12 counties located in Arizona, Oregon and Washington states, according to the report by the National Low Income Housing Coalition.

You would have to earn $17.14 an hour, on average, to be able to afford a modest one-bedroom apartment without having to spend more than 30 percent of your income on housing, a common budgeting standard. Make that $21.21 for a two-bedroom home -- nearly three times the federal minimum wage of $7.25.
The minimum hourly wage required to afford rent on a two-bedroom apartment, of course, depends on where you live -- ranging from a low of $11.46 in some counties in Georgia to a high of $58.04 in the San Francisco Bay Area.

The most expensive state for housing is Hawaii, where workers would need to make $35.20 an hour to afford a two-bedroom apartment. They would need to make $33.58 in the District of Columbia, $30.92 in California, $28.27 in Maryland, and $28.08 in New York.

DCPA is announcing the 'Hamilton' lottery in Denver

noreply@blogger.com (Saber) — Fri, 16 Mar 2018 19:27:00 +0000

If -like me you are looking for reasonably priced tickets to see Hamilton, this maybe your chance to get them for $10 each. The lottery opens at 11AM two days prior to the performance and closes at 9AM the day before. Here is the link to register: https://www.luckyseat.com/hamilton-denver/ you must enter every Thursday for the weekend show. Good luck :)

9 Landscaping Projects to Improve Resale

noreply@blogger.com (Saber) — Tue, 13 Mar 2018 03:06:00 +0000

As the weather starts to heat up each Spring, so too does the housing market. Spring is an optimal time to get your house ready to sell. The first thing that potential buyers will see of your home is the landscaping, so make a great first impression with beautiful outdoor spaces. An investment in landscaping can help sell your home faster and for more money. There are simple projects at every price point that can help you achieve great curb-appeal.

Inexpensive $

1. Keep the Lawn Well-Manicured
The easiest and most obvious landscape project when hoping to sell your home is to get your lawn looking its best. Spring is a great season to try to sell because your lawn is helped by Mother Nature. Wet, mild Spring weather will help the lawn stay green with less effort. To show off that green lawn, make sure to mow and edge it often.

2. Keep Your Yard Weed Free
It may not cost much, but it will require some time and effort to control the weeds around your property. Spray or pull weeds in flowerbeds, on property borders, and along the driveway. A weed-free yard will help potential buyers feel confident that the home is well cared for, which can create an overall positive impression of your home.

3. Add Flower Pots Near Your Front Door
A splash of color in the yard is a great way to highlight your home. If you are looking to sell quickly, it might be too late to do major yard improvements since new flowers and plants will not have adequate time to grow and mature, but a few beautiful pots of flowers strategically placed near your front door can have a similar effect without requiring a lot of time and maintenance.

Moderate $$

4. Add Outdoor lighting
Outdoor lighting has become a trendy feature that buyers have embraced. Lighting can add interest to your yard, highlight areas of beautiful landscaping, and make your home stand out at all times of the day. Solar lights are particularly easy to use because they will recharge during the day and automatically come on in the evening to illuminate your home.

5. Install Curbing/Edging
If you have a little extra money to spend, consider adding curbing or edging around your yard. It helps the landscaping appear crisp and clean, and makes the lawn easier to mow and trim. Savvy buyers will appreciate the ease of maintenance and the defined spaces that curbing creates.

6. Hire a Lawn or Pest Control Company
It is important when selling a home to make sure that their aren't any obvious problems. If your lawn is dead or patchy or you have pest problems like spiders, mice, etc, you will need to get those under control. Some of these projects are beyond the scope of what an individual without training can quickly achieve and should be left to professionals. Lawn care companies and exterminators can assess the issues you may have and recommend treatments. This may even be limited to a one time visit that can quickly improve the chances of selling your home.

High-End $$$

7. Create Outdoor Living Areas
If you have money to invest in your home, high-end landscaping projects can increase your bottom-line and draw attention from buyers looking for upgrades. Extra living area outside of your home is a huge attention grabber that attracts buyers. This could range from simple patios staged with outdoor furniture, to screened in porches, to full outdoor kitchen areas. Depending on your location, these upgrades may or may not be worth the investment, so do your research before proceeding.

8. Replace or Update Fencing
Fences provide a safe place for children and pets and also give homeowners a feeling of privacy, so they are highly sought after. Fencing is also one of the first things people see when coming to your home. If your fence is an eyesore, it will be worth it to make the effort to have it replaced or fixed up. A new fence is quite an investment, so first determine if your fence can be spruced up with some nails and a new coat of paint.

9. Hire a Professional Landscaper
If you are serious about creating a stunning yard, a professional landscaper can add massive amounts of curb appeal to make your home one of a kind. A landscaper can help you add impressive things like paving stone walkways, decorative retaining walls, and water features. Outdoor improvements definitely increase house values, but it is always good to know what the market will support in your area before moving forward.

No matter how much money you have to invest in your home's landscaping, there are projects you can do this Spring to improve your home's curb appeal and get it noticed by buyers.

Weekly Real Estate Update for 80121 (03-08-2018)

noreply@blogger.com (Saber) — Thu, 08 Mar 2018 15:10:00 +0000

Click here to see all listings in 80121

Click here to see the newest listings in 80121

29 Essential Tips That Get Homes Sold Fast (And For Top Dollar)

noreply@blogger.com (Saber) — Sat, 03 Mar 2018 16:04:00 +0000

Download a copy here

Newest listings in 80122 this week

noreply@blogger.com (Saber) — Thu, 01 Mar 2018 04:10:00 +0000

All these are 2 weeks old or less. To search all areas and all active listings click here

All these are 2 weeks old or less To search all areas and all active listings click here

Newest listings in 80120 this week

noreply@blogger.com (Saber) — Thu, 01 Mar 2018 04:04:00 +0000

All these are 2 weeks old or less To search all areas and all active listings click here

To search all areas and all active listings click here

Great horned owl sighting in centennial colorado

noreply@blogger.com (Saber) — Tue, 27 Feb 2018 20:12:00 +0000

My neighbor took these last week of a great horned owl nesting on his tree. I will add the chicks pictures once they hatch and if I am able to see them.

How would Amazon HQ2 affect rent in Denver?

noreply@blogger.com (Saber) — Mon, 26 Feb 2018 21:17:00 +0000

With Denver on the short list for Amazon.com Inc.'s second headquarters, concerns are being raised about the impact of a $5 billion, 50,000-worker campus in an area that is struggling with housing affordability.

Rental costs are on the rise, and a study today from Apartment List shows that Amazon HQ2 would increase those costs an additional 0.8 percent to 1.1 percent per year with the Amazon HQ2. That percent range translates to between $7,751 and $11,452 for a typical Denver renter household over a ten year period. To clarify, the 0.8 percent to 1.1 percent increase in rent is in addition to the baseline rent growth Denver has experienced without HQ2, which according to Apartment List averaged 4.8 percent per year from 2005 to 2015. With low inventory on both homes and rental vacancies, a new headquarters could strain housing further. Most impacted by these increases would be lower wage workers, many of whom would be needed to support Amazon HQ2. However, Denver would not be the most severely impacted city on the short list. According to Apartment List, Raleigh, North Carolina, would see the greatest increase in rent from Amazon HQ2. Of the 20 on the short list, the following 10 are cities Apartment List ranked in order of most significant rent impacts from HQ2 in addition to their baseline rent increase per year.

Raleigh, NC
Columbus, OH
Indianapolis, IN
Pittsburgh, PA
Nashville, TN
Denver, CO
Austin, TX
Miami, FL
Philadelphia, PA
Boston, MA

How much will you have if you invested $1,000 in Netflix in 2007?

noreply@blogger.com (Saber) — Tue, 09 Jan 2018 19:18:00 +0000

8 Things You Need To Know About Buying A Home

noreply@blogger.com (Saber) — Sun, 07 Jan 2018 07:00:00 +0000

I am a realtor and real estate investor based in Centennial, Colorado, With over 15 years of experience, I aim to help homebuyers make smart, strategic purchases. I advises first-time and “experienced” buyers alike to build a team of experts, scrutinize their finances, and remain in control throughout the process.

Buying a home or investing in real estate is one of the most expensive and life-altering decisions most people make. Since it's not a topic that's heavily touched upon in school, most people end up "winging it" and learning on the fly.
Sure, that's one way to approach it. A better way is to get familiar with important concepts and practices that can help you make sound buying decisions and avoid costly mistakes.

As a real estate agent, investor, and coach, I've been through countless transactions with clients. My goal is always to provide a framework for buyers to make smart, strategic purchases.

Here are my eight best pieces of advice for buyers:

1. Get educated on the homebuying process
No matter how you slice it, buying a house is a complex process. There are a lot of moving parts — from submitting an offer and obtaining a mortgage to securing homeowners insurance and closing on the property.
More often than not, I see buyers jump into it all without understanding the process at a high level. While no one expects you to know all of the ins and outs, it's beneficial to be aware of the major milestones and key players involved in a transaction.

2. Develop a real estate plan
I've seen people spend more time mapping out their weekly meal plans than their real estate objectives. Buying a piece of property impacts many aspects of your future and it's worth taking the time to investigate loan programs and neighborhoods, and to learn about the full spectrum of housing options.
Do you love post it notes, folders, and to-do lists? If you're an organized person who likes to plan, now is your time to shine. Having a high-level roadmap gives you direction and keeps you focused on your goals. It always helps to write down what you want to accomplish, the steps it will take to get there, and to come up with a realistic timeline to make it all happen.

3. Vet and hire experts
As a buyer, you are only as strong as your weakest link and you want to build a winning team of experts to guide and advocate on your behalf.
I would estimate that some of my real estate transactions have over 100 people involved. A lot are administrative personnel working behind the scenes, but a few are heavy hitters — there are realtors, loan officers, attorneys, escrow and title agents, just to name a few.
Note: just because your friend has a real estate license and makes you laugh at brunch, doesn't mean she should be advising you in one of the biggest financial and emotional decisions to date. Build your team wisely.

4. Explore your housing options
A single-family home is still the American dream for many of us. But, it's not your only option. It's worth considering other housing types, like a condo/townhouse or a multi-family property. There are significant differences in these home styles and unless you weigh out the pros and cons, you may miss a golden opportunity.

5. Scrutinize your finances
Trying to keep up with the Joneses is a real thing in our culture. It's not uncommon for people, and especially young buyers, to stretch beyond their financial means in order to purchase a home. This can become a slippery slope. There's no need to set yourself up for failure and unnecessary stress by putting yourself in a position where it's going to be hard to make ends meet.
Even though a bank may pre-approve you for a high loan amount, it doesn't mean you need to max out your budget. By carefully scrutinizing your expenses, you may realize that you should be both spending and borrowing less.

6. Focus on value as much as location
We've all heard the expression that real estate is all about "location, location, location." I couldn't agree more that the geographical area where you buy has a huge impact on your lifestyle and your investing strategy, but I would also argue that finding a good value for your dollar is just as important.
The biggest mistake I see home shoppers make is getting distracted by shiny objects, like stainless steel appliances and quartz countertops. Don't buy a house because it has nice barn doors. You can add these trendy décor accents into a space. Instead, you want to analyze the things that you can't easily change — overall square footage, the plot the house sits on, and the neighborhood.
Don't forget to take a deeper look and assess the big ticket items like roofs, plumbing, electrical. Although not nearly as sexy as a dual shower head, this is where your money is actually going.

7. Advocate for yourself
Caveat emptor — meaning "buyer beware" — was once a popular term used in the real estate industry to stress that the buyer alone is responsible for checking the quality and suitability of a home before the purchase is made. Over the years, laws have tightened up to protect consumers. Naturally, this makes it easier to point blame when things go wrong. Trust me, in my earlier days investing in real estate I was guilty of this myself. The blame game isn't good for anyone and having that mindset is useless.
Know that as a buyer, you are your best advocate and you are accountable for the decisions that you make. Do your research and take advantage of your due diligence period to ensure you are confident in your real estate endeavors.

8. Remember: You are in control
In this crazy hot market, it's easy to get carried away in the drama of multi-bidding wars and spending more than you can afford. There's no doubt that you have to be aggressive and proactive these days, but not to the point of losing control. Remember, you are in the driver's seat.

Having a plan, knowing the process, building a good team, analyzing your finances, and doing your research will help during times of chaos.

How much do you really know about real estate? Take this quiz

noreply@blogger.com (Saber) — Sat, 06 Jan 2018 15:26:00 +0000

Can you buy a piece of a shopping mall?
See question No. 3

Real estate is an important component of the U.S. and global economies. For many Americans, homeownership doubles as a first investment. Beyond a primary residence, investors also can buy into the commercial real-estate market: Office buildings, multifamily housing, hospitals, parking lots, storage facilities, retail properties, call centers, distribution hubs, hotels and restaurants form a sector with its own economic ups and downs.

In 2016, the S&P 500 recognized real estate as its own sector, separating it from financial services where it had been buried for years—a move some view as a portent of more real-estate investment to come and that others view with indifference. Currently, real estate accounts for less than 5% of the S&P 500 by market cap.

How much do you know about real estate—and real-estate investing?

1. What foreign country’s investors are buying the most U.S. commercial real estate?

A. China

B. Canada

C. Germany

D. Japan

ANSWER: B. Canada, according to research from JLL Research and Real Capital Analytics. During the first half of 2017, Canada accounted for 30% of all foreign investment in U.S. commercial real estate, followed closely by China (21%), Singapore (15%) and Germany (7%).

2. How do investors participate in the real-estate sector?

A. Mutual funds and ETFs

B. Stocks

C. As direct owners/landlords

D. All of the above

ANSWER: D. Many investors inadvertently own real estate. Broad-themed mutual funds typically allocate a portion of their holdings to real estate. They own it directly, too, sometimes in the form of an exchange-traded fund. You can buy stock in home builders or REITs. You also can buy investment properties for income, and in some cases you can carry these properties within an IRA. Some argue that owning a primary home makes the average investor “overweight” in real estate, so portfolio allocations to real estate need not comprise a large percentage of holdings.

3. What is a REIT?

A. Real-estate investment trust

B. Real-estate investment tax

C. Real-estate insurance tariff

D. Real-estate investor trade

ANSWER: A. Real-estate investment trusts are investment vehicles that contain securitized portfolios of commercial properties such as office buildings, apartment buildings, retail sites, hotels, storage facilities, parking garages, data centers, even cannabis farms. You can buy shares (typically called units) in a REIT, or invest in REITs indirectly since REIT units are often found within mutual-fund portfolios or inside target-date funds.

4. Which commercial real-estate subsector is least prosperous now?

A. Multifamily housing

B. Industrial

C. Office

D. Retail

ANSWER: D. Retail real estate ranks last among six commercial categories both in terms of its investment and development prospects, according to a joint report on the 2018 commercial real-estate market from PricewaterhouseCoopers (PwC) and the Urban Land Institute. Headwinds in the retail category stem from department-store obsolescence, changes in apparel spending, consumer demographics and the impact of e-commerce and other technology on shopping experiences.

5. What were typical residential mortgage terms before the creation of the Federal Housing Administration (FHA) and the Federal National Mortgage Association (Fannie Mae) in the 1930s?

A. 3.5% down with a 30-year payoff

B. 20% down with a 20-year or 30-year payoff period

C. 50% down with a 10-year payoff

D. 0% down, interest-only loans with a 30-year payoff period

ANSWER: C. Before the creation of the FHA and Fannie Mae, it was hard for the average American to come up with a 50% down payment and then pay off the remaining 50% of a home’s value in only a decade; at that time, the homeownership rate was below 49% (versus the current rate of 63.9%, according to U.S. Census data). When the FHA and Fannie Mae were created, insurance against defaults became available to borrowers and banks loosened loan terms to 20% down with a longer payoff. In the ensuing decades, borrowers could make much lower down payments—as little as 0% or 3.5%.

6. How did real estate contribute to the most recent financial crisis and related recession?

A. Lenders relaxed standards and underwrote loans that wouldn’t fly today

B. Banks knowingly and unknowingly sold mortgage securities containing unsound assets, and ratings firms failed to accurately rate real-estate debt sold to the secondary market

C. Investors speculated on housing and homeowners

D. All of the above

ANSWER: D. of the above. You can read all about it in the Financial Crisis Inquiry Commission’s 2011 report. For a more fun look at what happened, watch the movie “The Big Short.”

7. During the real-estate bubble, which economist was known as “Dr. Doom”?

A. Robert Shiller, author of “Irrational Exuberance” and co-developer of the Case-Shiller Home Price Index

B. Nouriel Roubini, NYU professor, formerly an economist advising the White House Council of Economic Advisers

C. Karl Case, the late professor/researcher who co-developed the Case-Shiller Home Price Index

D. Ben Bernanke, former Fed chairman, now a Brookings Institution economist

ANSWER: B. Nouriel Roubini, a global macroeconomist, boasts the title “Dr. Doom” for his prognostications about the 2008 real estate and credit-market meltdowns. He is predicting more economic drama.

8. What U.S. city has the lowest rate of apartment vacancy?

A. New York

B. Seattle

C. San Francisco

D. Boston

ANSWER: A. New York has a 1.9% vacancy rate, tightest in the U.S., followed by Boston (2.6%), San Francisco (2.8%), Los Angeles (2.9%), Seattle (3%) and Washington, D.C. (3.8%), says National Real Estate Investor.

9. Which commercial real estate approach isn’t recommended in 2018?

A. Take advantage of demand for new housing

B. Bet on property price appreciation

C. Invest in “experiential retail”

D. Senior housing

ANSWER: B. Investors are advised to look at cash flow from income as a source of benefit rather than property-value appreciation, according to the PwC-Urban Land Institute report on commercial real estate. “Rent recoveries have matured in many markets and across property types. Cap rates have been compressed, but are leveling off,” the report says. “Appreciation is likely to be muted even in secondary and tertiary markets. That means focusing on cash flow and asset management in the immediate and midterm future.”

The article “How Well Do You Know Real Estate? Time to Find Out” first appeared in The Wall Street Journal.

R-2-B Zoning in Englewood for sale. Rare opportunity for a killer duplex

noreply@blogger.com (Saber) — Wed, 13 Sep 2017 19:08:00 +0000

Investors or Developers R-2-B Zoning!!! Rare opportunity for a killer duplex (Can be subdivided with separate legal description) or triplex building lot in a highly-sought-after neighborhood in Englewood. Just 4 lots N of Dartmouth & Elati, it's a quiet, up-and-coming neighborhood with great neighbors, right around the corner from Broadway, Santa Fe, Light Rail, William E. Bishop Elementary School, neighborhoodcommunity gardens, RiverPoint shopping, Walmart, Kings Soopers, Safeway & a lot more. Buy to redevelop and resell at just over $100k per unit for the dirt!!! The home is currently boarded up, the real value is in the land. NO SHOWINGS. PLEASE DRIVE BY AND SEE THE LAND. Survey and Soil test are already done.

Broker Remarks

Tons of duplexes & triplexes being built in the neighborhood (Four planned in the next year plus two already built. All in the same block). R-2-B is what you want to maximize your return. Rents are going for $2200+ per unit in the triplex rentals in the neighborhood. There's

You need to make more than $80,000 a year to afford the median Denver-area home

noreply@blogger.com (Saber) — Thu, 07 Sep 2017 12:29:00 +0000

A new report highlights just how far out of reach home ownership is for many in the Denver metro area. An individual or household needs to make at least $81,349.82 a year in order to afford the median home in the Denver metro area. Compare that to the Denver metro area’s median household income, which was $71,146 in 2015, the latest year for which data are available. The analysis used median single-family home price data from the second quarter of 2017, which amounted to $424,500. That price encompasses the entire metro area and not just the city of Denver.
In calculating the salary required, We assumed a 30-year fixed-rate mortgage with a 4.11 percent interest rate and a 20 percent down payment, which would mean a monthly payment of $1,898.16. That includes the principal, interest and estimated taxes and insurance. A 20 percent down payment isn’t always necessary, but putting down less money upfront will lead to higher monthly payments. With a 10 percent down payment, one would need to make more than $95,000 a year.
The $81,349.82 figure makes Denver the 9th most expensive U.S. metro area for homeowners. Unsurprisingly, San Jose and San Francisco, California top the list with annual incomes of $221,364 and $181,341 needed to buy homes there, respectively.

Here are the 10 most expensive metro areas in 2017:

1. San Jose, CA: $221,364
2. San Francisco, CA: $181,341
3. San Diego, CA: $116,875
4. Los Angeles, CA: $101,532
5. New York, NY: $99,137
6. Boston, MA: 98,519
7. Seattle, WA: $93,853
8. Washington, DC: $88,664
9. Denver, CO: $81,350
10. Portland, OR: $77,607

Denver-area home prices drop slightly again in August; still up year-over-year

noreply@blogger.com (Saber) — Thu, 07 Sep 2017 12:18:00 +0000

The cost of buying a home in the Denver metro area dipped slightly for the second straight month in August, according to the latest data from the Denver Metro Association of Realtors.
The median sale price of all residential properties was $380,000 last month, a decrease of $5,000 from the month before. Compared to the same time last year, however, prices are still up more than 8 percent.
While it’s difficult to say if the past couple months are indicative of a trend, Realtors say the numbers do seem to show that the market is cooling down some.
Housing numbers can be presented in ways to paint many different pictures, Overall, it is still a positive market even though we are transitioning towards something that looks more normal. 38,553 residential properties have sold so far this year, setting a new record for the metro area. That number is 4.35 percent higher than the same time last year.
While housing inventory continues to climb, it’s still far below the historical average of more than 17,000 homes for August. Condo inventory is generally doing better than single-family homes, according to DMAR. The number of condo listings is up more than 17 percent year-over-year while single family inventory is down by nearly 4 percent.
The single most expensive home that sold in the area last month was a six-bedroom, nine-bathroom home in Highlands Ranch that went for $8,116,000. The most expensive condo, a three-bedroom, four-bathroom unit – sold for $2,170,000.
The chart above shows the trends in prices and inventory since January: