May 5, 2021

New Construction Pending - Trails at Crowfoot in Parker CO

Parker, Colorado is booming with new construction! Trails at Crowfoot, Looking Glass, Anthology North and Allison Ranch are just a few of the new neighborhoods in the works. Even though there seems to be a lot of opportunity, it is not easy to secure a lot as builders scramble to keep up with demand and rising material costs. One salesperson told me his office is only releasing two lots per month, and he has over 30 buyers on a wait list.

 

My clients looked at Richmond, DR Horton, and Taylor Morrison before deciding on Taylor Morrison in Trails at Crowfoot. Their decision came down to location, availability and desired floor plan. The home’s finishes and colors were pre-selected and purchase price was set, so the buyers were able to contract without worrying about what the design center would cost.

At the time of contract, the lot just had a pile of dirt sitting on it. Two months later, the lot has been cleared and digging has begun. Estimated completion timeline is 4-5 months.

 

If you are interested in new construction in Parker or towns in the metro area - give me call - Laura Erwin.  303-353-8251     (foot note:   if you go into a builder's sales office without a REALTOR, you won't be able to have representation.  The sales rep is working for the builder, not YOU.)

 

AUTHOR --- Laura Erwin ---- Laura@lauraserwin.com     303-353-8251

 

April 29, 2021

Luxury Home Sales in Denver CO - Market Update March 2021

 

A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area for over $1 million.   Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

  

Here is how the luxury market fared for the month of March 2021

Total sales - 343 homes ranging from $1,000,000 to $6,075,000 (last month was 207 homes, 2020 was 161)

Average Days on Market - 50 days (last month was 54 days last month and 2020 was 59 days)

Average price per SF (Total) - $283.38 (last month was $283.72)

These homes were built from 1885 to 2021

 

The highest-priced home sold was $6,075,000 in the Denver Metro and is in the Denver Country Club.   This expansive home was built in 1933, on .30 acres with a 3-car garage.   This home has 5 bedrooms, 7 bathrooms, and 7,685 total finished square feet.  This home was never on the market. 

 

Even many of our luxury homes are going pending and seeing multiple offers.

 

Looking for a home on acreage and private?    With mountain views?    Or would you like to see what homes are for sale over $1,000,000?  

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 As we are warming up daily, I know many are looking forward to the weather warming and spending time outdoors.   Love this outdoor space?

 

Today, you will find 345 homes for sale in the Denver metro area listed over $1,000,000 up to $16,950,000.   They have been on the market for an average of 86 days and these homes were built from 1894 to 2022.   This amount has increased substantially from last month.

 

There are 541 homes currently pending over $1,000,000 up to $7,600,000 with an average 51 days on market.    These homes were built from 1886 to 2022.    (This amount has increased from 491 last month.)

 

Here is how 2019 compared to 2020

Total Sales     2019 - 1,810                          2020 - 2,739

Days on Market      2019 - 61 days              2020 - 53 days

Average Price Sold   2019 - $1,300,000       2020 - 1,302,500

% Seller Saw to List    2019 - 97.65%             2020 - 97.06%

 

With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City.  

 

I have obtained my luxury marketing certification and has given me a multitude of new ideas.    If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.   

 

 

April 24, 2021

Denver Market Trends - March 2021

 

The stats are out for the month of March, and it was a busy month!   As of almost the end of April, we are experiencing SERIOUS low inventory, down 75% over one year ago.  I think many Sellers are nervous about listing their homes while we are seeing the virus, and not knowing if they would be able to locate a replacement home! 

 

 

The following data is courtesy of Joan Cox - House to Home, Inc.

 

We are seeing homeowners pricing their homes higher than "fair market value", and also seeing offers WAY over list price and multiple offers.   Appraisers are trying to make it work, but it helps when buyers "make up the gap" between the purchase price and appraised value.

 

See what homes are currently available - Active Homes for sale in Denver

 

Buyers - If you have thought about buying a home this year - NOW IS THE TIME!   The interest rate is unbelievable - below 3%.  You can buy more home than you could just six months ago.  Be sure to be pre-approved and know what your budget is!  Be prepared, many homeowners are asking for a 60-day rentback to find a replacement home.

 

Sellers - My sellers are seeing a nice bottom line!    If you are thinking of selling but worried you won’t find a replacement home, I can enter into MLS the fact you require a contingency of a replacement home.    

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

 

March 30, 2021

Luxury Home Sales in Denver CO - Market Update February 2021

 

A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area for over $1 million.   Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

  

Here is how the luxury market fared for the month of February 2021

Total sales - 207 homes ranging from $1,000,000 to $5,575,000 (last month was 177 homes, 2020 was 108)

Average Days on Market - 54 days (last month was 68 days last month and 2020 was 64 days)

Average price per SF (Total) - $283.72 (last month was $283.87)

These homes were built from 1895 to 2021

 

The highest-priced home sold was $5,575,000 in the Denver Metro and is in the Denver Country Club.   This expansive home was built in 1927, on .40 acres with an 3-car garage.   This home has 6 bedrooms, 9 bathrooms, and 10,073 total finished square feet.  This home was on the market for 472 days. 

 

Even many of our luxury homes are going pending and seeing multiple offers.

 

Looking for a home on acreage and private?    With mountain views?    Or would you like to see what homes are for sale over $1,000,000?  

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 As we are warming up daily, I know many are looking forward to the weather warming and spending time outdoors.   Love this outdoor space?

 

Today, you will find 296 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000.   They have been on the market for an average of 109 days and these homes were built from 1894 to 2022.   This amount has decreased from last month.

 

There are 491 homes currently pending over $1,000,000 up to $7,600,000 with an average 64 days on market.    These homes were built from 1870 to 2022.    (This amount has increased from 414 last month.)

 

Here is how 2019 compared to 2020

Total Sales     2019 - 1,810                          2020 - 2,739

Days on Market      2019 - 61 days              2020 - 53 days

Average Price Sold   2019 - $1,300,000       2020 - 1,302,500

% Seller Saw to List    2019 - 97.65%             2020 - 97.06%

 

With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City.  

 

I have obtained my luxury marketing certification and has given me a multitude of new ideas.    If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.   

 

 

March 22, 2021

Denver's Real Estate Market NEWS

Ever since the interest rates dropped below 3% late last year, demand has been stronger than the supply.    This results is multiple offers, and buyers "making up the gap" between appraised value and their contract price.    There have been some with SIZEABLE contributions by the Buyers in all price ranges!    Luckily, with 10-12% (or more in some areas) value increases, buyers will make up this equity quickly.

 

Since the first weekend of March we have seen quite a surge of new listings, thankfully!   For the first couple of months, we were seeing 500 new listings come on each week, but 1500 going pending.    The first weekend of March we saw more listings than pending properties, and this weekend was about even.    This is better news for buyers, as they have more listings to see, and hopefully less to compete against.   

 

The interest rates have increased, slightly above 3% now, and with the amount of new listings, maybe it won't be such a frenzy out there!!

 

Looking to buy or sell this Spring?    Give me a call, I would love to assist you! 

March 21, 2021

Creating a Desirable Home Office

 

Whether you work full-time at home or occasionally need to conduct business in the evenings or on the weekends, a home office a great way to utilize an extra room. Now that many employees are allowed to work from home, an organized home office could be important.  A dedicated workspace in your home can be designed to increase productivity and comfort. Here are 5 ideas to get you started.

  1. Invest in a good office chair. Investing in an ergonomic office chair is essential. You may be spending anywhere from 30 to 50 hours a week sitting in it, so your back will thank you. Purchasing one with multiple adjustments is ideal so it fits you just right.
  2. Switch up your lighting. Fluorescent lighting has been proven to be hard on the eyes. Make the switch to LED or halogen light bulbs in your home office and try to let in as much natural light as possible. Also, consider finding a desk lamp to reduce headaches and eye strain.
  3. Keep essentials in reach and organized. Nothing says productivity like a clean, neat workspace. Select a desk with a lot of storage or install creative shelving to keep items like pens, pencils, extra batteries, calculators, notepads, and more stored within arm’s reach.
  4. Decorate bright. Pick a color you love and use it to spice up the room. Use cheery yellow or red or relaxing tones like green and blue, instead of beiges and browns.
  5. Aim for the view. If possible, place your desk so you are facing a window instead of a blank wall. Natural light can do wonders for staying alert and you can give yourself a short mental break when necessary by looking to the outdoors.
Posted in Homeownership Tips
March 15, 2021

Spring Maintenance Tips for Homeowners

There are items you should be maintaining every season to ensure you don't end up with a giant bill for repairs.   Once all this snow melts, here is a list for the Spring Maintenance a homeowner should review -

 

 

1.  Be sure to check your gutters and drains to be sure they are not filled with leaves.   Sometimes birds build nests in the gutters too, remove them also.   Check for cracks and/or connections.  The drains need to deliver the water at least 5 feet from the foundation.

2.  Clean out the window wells of fall leaves, as bugs like to nest in these.

3.  Uncover the AC condenser, and/or the evaporative cooler and get cleaned up for the warmer months.  Change the furnace filter.

4.  If you have broken seals in the windows, it is nicer to have them replaced when the weather is warmer.

5.  Check for negative draining around the outside of the home, you don’t want water pooling around the foundation!  Check the trees and bushes and be sure they are not touching the house.

6.  Check the caulking around the windows and doors as it may have cracked and/or separated over the winter.

7.  If you have a wood deck, check the stain and see if you need to reseal it.   It needs a good coating to maintain a good deck (or any wood surfaces).

8.  Springtime in Denver is notorious for hail storms.    Unless you KNOW you have an abundant amount of damage, after July is safer to call and have the roof inspected.   I always call Roof Brokers, as they will come out for free.  If they find damage, then you can call you insurance company to come out and inspect.   If you call them first, this could be recorded as a claim.

9.  How is the exterior paint?    Paint in Denver USUALLY will last 5-7 years depending on weather.   If you have chipped or peeling paint, always best to get that painted.

10.  In Denver, you don’t want to turn on the sprinklers until AT LEAST Mother’s Day (and sometimes even later).   Have had many clients turn theirs on early, and had to replace piping and valves.   This is also the first time you should plant garden plants.  Some plants are good to plant early, check with the nursery for those, but never tomatoes, peppers or some flowers.

11.  Are your screens (windows & doors) in good condition?  If you have holes in them, time to replace.   This time of year is nice to open windows, and you don’t want bugs/mosquitos in the house.  There are screen kits at the home improvement stores, and fairly easy to replace.

12.  When daylight savings time comes around it is time to change the batteries in the smoke alarms and the CO detectors to ensure you are not woken by the chirping.   BTW, there is now a smoke alarm that comes with a battery that lasts TEN years.   These need to be changed out every ten years (once they start yellowing).

13.  If you have a sump pit, check to be sure there is not more than 6" of standing water.   If there is, you should have a pump installed.  If you have a pump, and more than 6" of water is sitting, check the pump to ensure it is still working.

 

This is quite a list, so maybe over a few weekends these items can get accomplished, but will keep your home maintained!    Enjoy your Spring! 

 

 

Posted in Homeownership Tips
March 9, 2021

Market Trends for Town of Parker CO - Update February 2021

 

You will find this quaint town Southeast of Denver proper, and about 20 miles or 30 minutes.  It is easy to catch the light rail at Lincoln, if you work downtown, or somewhere along the line.    There are about 64,000 residents in the Town of Parker, and Main Street is a fun place to dine, listen to live music or enjoy the retail outlets.

 

If you are looking to buy a home in Parker, there is quite a variety of home styles and neighborhoods.   You can buy a condo or a multi-acre ranch outside the city limits, yet just a few minutes into town.  

 

Sales for February 2021

113 homes sold ranging from $400,000 to $2,800,000 (up from 97 sold last month)

Average days on market - 15 days (28 last month)

Average sales price was $58,000  (last month was $585,000)

Sellers saw 102.86% to list price  (last month was 100.44%)

These homes were built from 1905 to new builds (2021)

 

The stats tell the story - the demand is much greater than the current supply!   We saw many homes selling for thousands over list price this past month.    Hopefully with warmer weather (some of the week) we shall see more listings come on each week!

 

The highest sale was in Colorado Golf Club and sold for $2,800,000.  This home is on 1.81 acres, was built in 2019 (new build), has 5 bedrooms, 7 bathrooms, and a 5-car garage.    The home has 6,363 total square feet.

Colorado Golf Club is a popular area right now, lots of building going on, mountain views and homes on acreage!

 

 

Looking for a home in Parker CO?    Check out this link for the current active listings - 

HOMES FOR SALE IN PARKER CO

 

Are you looking for a home on acreage?  The best price I found today in Parker, is a home in Livengood Hills on 1.91 acres, built 1970, has 6 beds, 4 baths and a 3-car garage listed for only $725,000!

  

 

 

 

If you would like to know more about the Town of Parker, please give me a call.  720-231-6373 

 

March 6, 2021

Should you Forego an Inspection to "win the bid"?

In this crazy market in Denver right now, Buyers are trying many different avenues in order to "win the bid".   We are also seeing many homes going on the market that would linger on the market during a Buyer's market.    Maybe they have not taken care of the deferred maintenance on their home?   

 

With short showing times before you submit an offer, did you see all the issues?   Probably not!   Then, in order to "win the bid" you offered a significant amount over the list price which is also over the "fair market value".   

 

Then the inspection is completed, and you find items that the Seller is unwilling to correct.

 

I know I have had Buyers write on a few homes, secured it, did a complete inspection, then was not comfortable with either the issues, or worried the homeowner correcting the issues would not be done correctly (or to the Buyer's satisfaction).

 

After this happens a couple of times, and you start adding up all the inspection fees (inspection, sewer scope, well check and/or radon test), these fees can really add up.   BUT, so can the expenses when you forego an inspection.    I have always told my clients this is a small insurance policy to ensure the home is not a money pit once you close!

 

Some of my clients over the years have opted for no inspection, but will need this in writing, as I would NEVER recommend this.    It has to be the Buyers' comfort level, their house, their money!

 

Posted in Buyer Tips
March 4, 2021

Homes on Acreage in Arapahoe County Colorado


 

Chapparal and Chenango are two communities that feature homes on acreage where you can have some room to roam!   You will find one to three-acre parcels with homes built from 1978 to 2002 and you will find ranches, two-stories, and a few tri-level homes ranging from 2,040 square feet to 10,440 total finished square feet.   Most homes have finished basements, and many have done extensive remodeling.  You will find quite a few outbuildings to include additional car storage with as many as 9 spaces for vehicles or toys.

 

 

School-aged children will attend highly acclaimed Cherry Creek Schools.   Finding acreage this close in is rare, as this location is within minutes to Aurora and Parker, many retail shops and dining nearby, and has easy access to Parker Road, E-470, and I-225.   Parker Adventist Hospital is within 10-15 minutes.  

 

In Chenango, you will find many homes with wells and septic, but Chapparal has public water and septic systems.   This community has rolling hills, and some homes have stellar mountain views and beautiful landscaping.

 

How does the current market look?

Chenango & Chapparal SOLD property for January 2021 - 

Homes sold - 3 homes ranging from $950,000 to $1,525,000

Days in MLS - 116 average days 

List Price to Sold Price - Sellers saw 99.91% to list price

These homes were built from 1983 to 1993

 

Homes for sale in Chenango & Chapparal

 

Here are the stats for all of 2020 - 

Homes sold - 22 homes ranging from $630,000 to $2,650,000

Days in MLS - 109 average days 

List Price to Sold Price - 97.64%

 

Like the rest of Denver right now, homes are not lingering on the market long, and especially close-in homes on acreage.

 


 

If you have been looking for a home on acreage, give me a call!  

720-231-6373