May 18, 2019

Town of Parker Market Update April 2019

 

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 or enjoy the retail outlets.

 

 

If you are looking to buy a home in Parker, there is quite the variety of price points.   You can buy a condo, or a multi-acre ranch outside the city limits, yet just a few minutes into town.    Here is what happened in the market this past month.

Sales for April 2019

163 homes sold ranging from $327,500 to $1,500,000

Average days on market - 31 days

Average sales price was $523,300

Sellers saw 100% to list price

These homes were built from 1972 to new builders (2019)

 

The highest sale was in The Timbers, and sold for $1,500,000.  This home was on 1.27 acres, built in 2018, has 4 bedrooms, 5 bathrooms and a 4 car garage.    The home had 4,941 total square feet and was on the market for a total of 159 days.

 

 

 

How are we doing this year?   January we saw only 98 sales, so sales are getting stronger.   Inventory was 198 on 2/11, and inventory on 4/15 is 293.    We are below last year's sales of 191, so the market has slowed down a bit.  This past winter sure seemed to last longer than past years, and February's sales were a bit slower.

 

There are currently 340 active properties on the market ranging from $369,900 to $12,900,000

Days on Market - 64 days

 

Parker Homes for sale

 

There are currently 334 properties under contract ranging from $339,000 to $2,000,000

Days on Market - 30 days

 

So whether you need a condo -

This one is in Ironstone listed for $210,000

 

 

Or you are looking for a single family home with a yard -

 

 

This home is in Meads Crossing and listed for only

$415,000.

 

 

 

 

 

 

Want to know what a home looks like for $12,900,000?    This home was built in 2001, has 11 bedrooms, 24 bathrooms and a TWENTY-NINE car garage!   There are 45,212 total square feet including out-buildings on 35 acres.

 

 

 

 

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

 

May 17, 2019

What does it mean - Non-Buildable Lot?

 

Many Buyers are looking for land lately, and have had lots of calls for either a home on acreage, or maybe a good lot, and the Buyers can build "down the road".

 

On occasion you will see lots available, but says it is non-buildable at this time, and not sure when it will be.     Some of the lots in Larkspur for sale are on "streets" that are dirt, and not built out yet.   The City has to have the streets in so the fire trucks or emergency vehicles can get in and out of the area.   When the infrastructure is complete, then those lots can be built on.

 

 

Most lots do not have well/septic or even public water and sewer done.    When you buy a lot, you need to figure those fees into your budget.   Also, there will be a small water tap fee.    If thinking of building, this process has experienced a good-sized increase in pricing.   Lumber and other building supplies have really increased over the last few years.

 

Wondering how much an acre (or more) will cost you?

Vacant land for sale in Arapahoe County CO

Vacant land for sale in Douglas County CO

 

Sometimes looking at a resale and identifying what areas of the home needs updating may be less expensive than building a home from ground up.

 

Let me know if you have any questions on acreage.   720-231-6373

May 13, 2019

Denver Market Update - April 2019

 

The Denver real estate market saw a dramatic uptick in inventory this past month, which is normal for this time of year.  The sales were up 1.3% over last year's sales.   The total inventory has increased, but we are seeing some going under contract fairly quickly, especially in the lower price points.  The days on market decreased from last month identifying the buyers are out again.  Last month the days on market creeped up to 32 days, and dropped back to 28 for the month of April.  

 

The drop in interest rate did spur on sales, which is good, as it was much slower starting the new year versus past years.    The following data is courtesy of Joan Cox - House to Home, Inc.

 

Denver saw an increase in active listings however we have 8.8% more new listings than we did this time in 2018.   The under contract listings saw an increase (7.5%) over the same month 2018 and sold properties saw an increase from last year.   With 28 days on market, this still indicates we are experiencing a Seller's market, just is a bit slower paced versus past years. (April 2018 we saw only 20 days on market.)   Sellers should remember to list a home properly, as those over priced homes will sit on the market.  (this includes land, attached properties, single family homes and up to the mega million dollar homes)  

 

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

 

Stats for the Month of April 2019

New Listings - 7,519 - up from 6,198 last month  (in 2018 it was 6,929)

Under Contracts - 7,154 - up from 6,186 last month (in 2018 it was 6,656)

Sold Listings - 5,044 - up from 4,392 last month (in 2018 it was 4,979)

Days on Market - 28 days - down from 33 days last month (in 2018 it was 21 days)

Average Sold Price - $496,451 - up from $415,000 last month (in 2018 it was $486,171)

Percent of Sold Price to List Price - 99.7%, up from 99.4%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now to view before making a final decision.   There are times you even can think about a purchase overnight, and not "lose the bid".  With the Interest rate reduction, buyers are thinking this is a good time to buy a home, and seeing increased activity.

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  If you don't have showings, you won't see an offer!   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.

 

 

Denver’s unemployment rate has been slowly increasing and currently at 4.1% for January.   First time to experience higher than the national average of 4.1% in February.   Colorado’s population is 5.557 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.   Lockhead Martin announced they are hiring many more employees.   See who else is adding employees.    Our state government is working hard on affordable housing issues for both the elderly and first time home buyers, with so many relocating into the Denver metro area.  I recently got a first time buyer into an affordable housing development at a lower price than found elsewhere in the City.  The builder was offering first-responders a fabulous deal!

 

 

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.

 

April 30, 2019

Sold - Harmony Park - Westminster CO

 

This home closed and the Buyers are moving in this weekend and luckily we have good weather (until Monday).    Was a smooth day closing their primary home, then off to do the walk through on this home, and over to the other title company to close this beautiful home.

 

The buyers wrote the offer for more than list price, as it was under-valued in MLS and the buyers were contingent on their home closing, and wanted these Sellers to accept their offer.   The home sold for $516,500.

 

We found reading glasses available for the clients closing, and we were having lots of fun with those!

 

 


 

 

Always fun assisting past clients with another transaction, and once we got their home under contract, it was time to get out and look for the replacement home.    The wife knows exactly what they want, and had lots of homes favorited once we were ready to start the search.

 


 

This home was top of the list, but before we were clear to start the search, it went under contract.  Very disappointing to the Buyers, but the DAY we started searching, in fact, we were just finishing the viewing for the day and got an interesting email.   The listing agent sent a blast email to everyone that had interest in the property letting them know the Buyer that had gone UC, wasn't aware of the house payment, and did not want to pay that much per month!  OH MY....

 

We rushed to get a showing set, wrote the offer after seeing the property.   Since my buyers are contingent, and their Buyers' buyers are contingent, the Seller was a bit uncomfortable with the double contingency, and said, after the inspections were resolved, they would review our offer.  That was a very long week, as my Buyers were on pins and needles and did not want to lose this home.   Luckily, our market is not as frenzied as it has been for the last several years! 

 

Once both inspections were resolved, we again submitted a new offer, and went under contract.    My Buyers were thrilled, and inspection went well, appraisal came in at value, and now they are packing feverishly preparing for their closings on both properties later this month.

 

So happy to see my clients happy in their new home now!

 

 

 

Posted in Sold Property
April 23, 2019

Luxury Home Real Estate Market Update - March 2019

 

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 over $1 million.   Some have mountain and/or city views, some back to a golf course or have water views.  (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.   

 

Looks like finally Spring has arrived - time for a stellar back yard for entertaining?

 

Here is how the luxury market fared for the month of March 2019 -

Total sales - 134 homes ranging from $1,000,000 to $4,350,000 (last month was 103 homes, so this sector of our market is heating up)

Average Days on Market - 73 days (last month was 101)

Average price per SF - $267.65 (last month was $261.20)

These homes were built from 1895 to 2019

The highest priced home sold was $4,350,000 in the Denver Metro and was in Morgan's Historic district outside Cheesman Park. 

There were no short sales nor bank foreclosures sold this month.

 

**photo courtesy of REColorado

This home was the highest priced home sold for the month of March 2019 and was in the Morgan's Historic district outside of Cheesman Park and sold for $4,350,000.   This custom home was built in 1921 with five bedrooms, seven bathrooms and a 2-car garage on .36 acres.    This home has a total of 8,775 total square feet and was sold in 117 days.   

 

The last couple months were slow around the Denver metro area, but both the luxury market and the resale/new construction market is now picking up for a brisk spring buying season.

  

Looking for a home on acreage and private?    With mountain views?    Or would like to see what homes are for sale over $1,000,000?   There are current no bank owned properties for sale - but check back to see when they come on the market  bank foreclosure for sale.

 

    ** photo courtesy of REColorado

 

Today, you will find 715 homes for sale in the Denver metro area listed over $1,000,000 up to $22,000,000.   They have been on the market for an average of 143 days and these homes were built from 1884 to 2020.   There are no short sales currently for sale.   There is one bank foreclosure for sale - in Cherry Hills Village for $3,499,000.

 

There are 296 homes currently under contract (this is up from 253 last month) over $1,000,000 up to $7,750,000 with an average 83 days on market.    These homes were built from 1886 to 2020.

 

Enjoy Spring, and if you have thought about a home with mountain views and stellar outdoor entertainment areas, give me a call.  

 

 

April 22, 2019

How to Prepare your home for Listing Photos

 

I am pretty hard on my Sellers, and have a lengthy list of things to do to prepare for the day the Photos will be taken.    We only have once to have that First Impression, and want the photos to pop off the page.   I want that Buyer to be drooling over the photos and mark that listing with a HEART.

 

Curb Appeal

When your home is listed, you should be the BEST house on the block.   Clean out the garden beds, no leaves from the Fall, make the front porch as desirable as possible and depending on the time of year - the yard should be freshly mowed and watered.    Check for peeling paint on the body and trim of the home.   Again, depending on time of year, fresh flowers in a pot always brightens up the exterior.

This one is very pretty.............................................    This is what not to have......................

 

Interior

All the rugs from all over the home should be removed.   You want the Buyers to see the flooring easily.   You can put them back in place for showings, but not for photos.   Be sure you have all the "stuff" off the refrigerator.  I know you need that calendar to keep track of when the kiddos need to be where, but take it all down for photos.   If you have minimal counter space, there should be just about NOTHING on the counters in the kitchen.   Leave very few personal items out for the photos even with plentiful counter space, makes the kitchen look even larger.   The bathrooms are the same - put away the tooth brushes, Kleenex, and leave out only decor, and minimal at that.   Remove the plunger, trash cans, toilet bowl brush, etc.    This would never be my listing, unless the Seller wanted to sell AS IS.   And my professional photographer would have captured the whole bathroom, not just the sink and counter.   Do these homeowners drink wine in the bathroom?

 

I always get questions about family photos, and if they should be taken down.   I don't think a few will matter, but if you have a whole wall of family photos, you should minimize it to only a couple.   You want the Buyers to view the HOME, not take time to look at your personal things.    That goes for decor also - if you have a lot of it, minimize it.   I have been having my photographer take photos of walk-in closets, as this is a huge plus for many buyers.   Tidy it up, go through the clothes and shoes, and time to start getting rid of the items you have not worn for years.   This way you don't have to move it either.   Laundry room -- same thing, minimize the clutter especially if you have a room, which is another plus for Buyers, which I like to have photographed.

 

Back yard

It is spring (well almost...) and time to think about back yard entertaining.   If you have a deck or patio, make your patio furniture look inviting.   Take the covers off and extend the umbrella to look like it is ready for a party.   Again clean up the yard and any garden areas.   Raised garden beds are very popular, so be sure all last year's harvest and dead plants are cleaned up.

 

On the flip side, when my Sellers are Buyers - and they see pictures of all this stuff in photos of homes THEY are looking at, they can see why I am hard on them.   Great photos sell homes!    I always say - we are a TEAM, and together we can be the BEST!

 

 

Posted in Seller Tips
April 18, 2019

Denver Market Update - March 2019

 

The Denver real estate market saw a dramatic uptick in inventory this past month, which is pretty similar to what we saw in 2018 for these two months.  The sales were up 5.6% over last year's sales.   The total inventory has increased (although not as much as new listing), but we are seeing some going under contract fairly quickly, especially in the lower price points.  The days on market changed from last month identifying the buyers are out again.  Last month the days on market creeped up to 39 days, and dropped back to 32 for the month of March.   Hopefully we are done seeing the frequent snowstorms for the season, and will see a better spring buying season. 

 

The drop in interest rate did spur on sales, which is good, as it was much slower starting the new year versus past years.    The following data is courtesy of Joan Cox - House to Home, Inc.

 

Denver saw an increase in active listings however we have 2.3% less new listings than we did this time in 2018.   The under contract listings saw a slight decrease  (.3%) over the month of February 2018 and sold properties saw a decrease from last year.   With 32 days on market, this still indicates we are experiencing a Seller's market, just is a bit slower paced versus past years.  Sellers should remember to list a home properly, as those over priced homes will sit on the market.     (this includes land, attached properties, single family homes and up to the mega million dollar homes)  

 

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

 

Stats for the Month of March 2019

New Listings - 6,198 - up from 5,095 last month  (in 2018 it was 6,346)

Under Contracts - 6,186 - up from 5,077 last month (in 2018 it was 6,206)

Sold Listings - 4,392 - up from 3,388 last month (in 2018 it was 4,653)

Days on Market - 32 days - down from 39 days last month (in 2018 it was 26 days)

Average Sold Price - $480,023 - up from $464,398 last month (in 2018 it was $468,815)

Percent of Sold Price to List Price - 99.4%, up from 99.1%  last month

 

Buyers - inventory increased this month, giving Buyers more inventory now to view before making a final decision.   There are times you even can think about a purchase overnight, and not "lose the bid".  With the Interest rate reduction, buyers are thinking this is a good time to buy a home, and seeing increased activity.

 

Sellers - Pricing your home is very important, and not start too high, or you will be sitting on the listing for a while.  If you don't have showings, you won't see an offer!   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.

 

 

Denver’s unemployment rate has been slowly increasing and currently at 4.1% for January.   First time to experience higher than the national average of 4.1% in February.   Colorado’s population is 5.557 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.   Lockhead Martin announced they are hiring many more employees.   See who else is adding employees.    Our state government is working hard on affordable housing issues for both the elderly and first time home buyers, with so many relocating into the Denver metro area.  I recently got a first time buyer into an affordable housing development at a lower price than found elsewhere in the City.  The builder was offering first-responders a fabulous deal!

 

 

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.

 

April 16, 2019

Planting a Garden in Denver

 

For anyone who has not lived here for long, Mother's Day is typically the goal date you want to wait to plant most of the garden.   Up until that date, we can still get snow and freezing temperatures, which most of the plants cannot survive.

 

There are some plants that can be planted this time of year, and don't mind the occasional snow and cold temperatures.    Chilves and peas do well, and starting some other plants on the inside is good to start in March or April.   Some of the herbs will return every year, thyme, oregano, sage, and my cilantro always came back early spring.   It was fun to watch the asparagus coming up.   It takes two full seasons before it is ready to harvest.  Celery did quite well also.   I had to purchase rosemary and basil every year.

 

After Mother's Day, you still need to watch the temperatures before planting tomatoes, herbs, peppers and lettuce.   One year I remember having to wait until almost the end of May before it was safe.   After spending the dollars on these plants, the last thing you want to see is a freeze that comes through and kills all your plants.    You could cover them, or set up a tent with some heat, but I always thought that was too much trouble.

 

There is a chance in June for hail, so keep things handy to cover your tender plants just in case.

 

I miss my garden, as I sold my home last year with 1/3 of my back yard was the garden.   This year I will be the "urban gardener" with pots on my patio.     You too can grow even in a condo with a patio - pots do produce great plants too.

 

 

April 15, 2019

Parker CO Home Sales - March 2019

 

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

 

 

If you are looking to buy a home in Parker, there is quite the variety of price points.   You can buy a condo, or a multi-acre ranch outside the city limits, yet just a few minutes into town.    Here is what happened in the market this past month.

Sales for March 2019

171 homes sold ranging from $328,000 to $1,900,000

Average days on market - 40 days

Average sales price was $491,000

Sellers saw 100% to list price

These homes were built from 1973 to new builders (2018)

 

The highest sale was in Pradera, and sold for $1,900,000.  This home was on 1.56 acres, built in 2007, has 8 bedrooms, 11 bathrooms and a 4 car garage.    The home had 8.771 total square feet and was on the market for a total of 437 days.

 

How are we doing this year?   January we saw only 98 sales, so sales are getting stronger.   Inventory was 198 on 2/11, and inventory on 4/15 is 293.    We are above last year's sales of 164, so things aren't looking too bad so far.  This past winter sure seemed to last longer than past years, and February's sales were a bit slower.

 

So whether you need a condo -

This one is in Ironstone listed for $210,000

 

 

Or you are looking for a single family home with a yard -

 

 

This home is in Meads Crossing and listed for only

$415,000.

 

 

 

 

 

 

Want to know what a home looks like for $12,900,000?    This home was built in 2001, has 11 bedrooms, 24 bathrooms and a TWENTY-NINE car garage!   There are 45,212 total square feet including out-buildings on 35 acres.

 

 

There are 36 homes currently on the market with over 4,000 square feet above ground ranging in price from $625,000 to $12,900,000.    If you are looking for some land - there are 69 properties for sale with 1+ acres ranging from $524,900 to $122,900,000.

 

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

 

 

 

 

April 8, 2019

Looking for acreage close to Denver?

 

Most Buyers think Larkspur is too far from Denver and toss out great listings.    Did you know living in Larkspur is only 30 minutes to the Denver Tech Center?    Depending on what part of Larkspur you look at, it could be even closer.  

 

Living in Larkspur, you can easily get at least a half acre, if not an acre nestled in the trees, some with fabulous views, and not unusual to see deer driving down the streets of neighborhoods.   

 

 

You will be able to relax and enjoy the serenity Larkspur has to offer!    You will only hear nature, or an occasional car driving in and out of the neighborhood.    No highway noise, no hustle and bustle of the City.   There are two golf courses - Perry Park and Bear Dance, and both have country clubs.  

 

Ready to get out of the city?    For a little above the average Denver metro price, you can buy a home on one acre of land for only $599,000.   For $4.6 million, you can purchase 70 acres with a home with 10,500 square feet, an out building, an indoor horse arena in Douglas Park.     There are ranches, two stories and multi-level homes to choose from and built from 1980 to new builds.    There is something for almost everyone.

Homes for sale in Perry Park

Homes for sale in Bear Dance

Homes for sale in Douglas Park

Homes for sale in Sage Port

 

 

This weekend I took a Texas buyer out viewing homes, and their criteria was to have a private yard, some views and not be crammed into a neighborhood wall to wall and had a good price point.    When I recommended Larkspur, their family members said it was closer to Colorado Springs, but reluctantly said, OK, let's see a home there.    He saw the beauty this area offers, and drove back directly from Larkspur to check how long it would take to drive to work.

 

If you have not checked out Larkspur, you will see it is a hidden gem!     Just 30-40 minutes (depending on where in Larkspur and depending where in the Tech Center) from Larkspur to DTC, and you too can enjoy the serenity of living on acreage.    Can you picture yourself here?

 

    ** photo courtesy of REColorado

 

If you would like to know more about Larkspur, and all it has to offer, give me a call - 720-231-6373.