HouseLogic Answers Your Home Maintenence & Renovation Questions
November 12th, 2011 categories: Real Estate News
Have you ever wondered how often you need to clean your gutters? Or how to winterize sprinklers?
The HouseLogic site provides a terrific resource for home maintenance questions. You’ll find resources for calculating the net benefit of some home improvement projects, for going green at home and for landscaping and gardening.
Create a profile, and you can build a home improvement plan for the future, get ideas from professionals and share pictures of your projects. If you’re house obsessed, or just in the middle of a renovation, you should check out this site.
Today on the site there are articles about the costs of adding a fireplace, with pretty pictures of different styles and assessments of cost efficiency. It’s fireplace season in Denver, and adding a fireplace can add value as well as enjoyment on cold, winter days.
HouseLogic just celebrated its 2 year birthday. If you haven’t stopped by the site in those two years, you should! 19 million people are actively using the site. It’s house logical!
Improving your Denver home definitely adds value. Denver buyers prefer tasteful updates, and pay attention to decorating trends that lean to the more conservative. Check out photos of Denver homes for sale at GretchensDenver.com. Compare those to what you find on HouseLogic, and then let me know if you’re interested in hunting for your next Denver home.
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Denver Real Estate Statistics | October 2011
November 8th, 2011 categories: Market Trends, Real Estate News
Sellers – this is not the winter you want to take your house off the market for the holidays.
The Denver metro area inventory is the lowest it’s been this entire millennium. Buyers are searching for homes and sellers are holding back. This level of inventory is about half what it was in the busy times.
If you’re getting your house ready to sell, get it ready now. And get it on the market. The weekly sales rate of 5.62 percent in October, was almost 44 percent higher than the weekly sales rate in October 2010.
Sales were up 12% from October 2010. Days on Market were down from September and year over year, reflecting the buyer demand for good properties.
And finally, prices are down too. Counter intuitive when there are such low interest rates and correspondingly low inventory. The reason prices show a decrease is the trend toward lower priced home sales. The “mix” of properties that are closing are bulking up around $200,000-$400,000. Mid-priced homes and high end homes are still taking longer to sell, and those sellers are still finding themselves reducing prices.
This is shaping up to be a “not normal” winter in Denver. Let’s hope the snow is in the mountains, the sun is in the city and real estate is hot.
Look at pretty pictures of homes for sale at www.gretchensdenver.com.
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221 South Garfield Street in Denver’s Cherry Creek
November 6th, 2011 categories: LifeStyle Listings
Denver’s Cherry Creek neighborhood has been called the “Gold Coast” of Denver real estate.
You can live the Cherry Creek lifestyle for a bargain in your own renovated condominium at 221 South Garfield Street #105. The price for 1,580 square feet in the heart of Denver is $319,900. The unit has 2 bedrooms, 2 full baths, 2 underground parking spaces and a lovely patio.
The owners have recently repainted, re-carpeted and added new kitchen appliances. You’ll be walking distance to the dining and shopping in Cherry Creek North, the Cherry Creek Shopping Center and only 10 minutes to downtown. Contact Me to check it out! And search for other Cherry Creek properties at www.GretchensDenver.com.
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1254 Monaco Parkway in Denver’s Historic Montclair
November 3rd, 2011 categories: LifeStyle Listings
Situated on the lovely and historic Monaco Parkway in Central Denver, the Montclair neighborhood is a classic. 1254 Monaco Parkway is a home you will not want to miss.
Step across the threshold and feel right at home. The modern conveniences combined with historic charm accentuate the architectural integrity and livability.
Wood floors, Wolf gas range and Sub-Zero refrigerator in the renovated gourmet kitchen and a formal dining room give the heart of the house warmth.
French doors to the patio from the large formal living room perfectly frame the charming outdoor space.
A large master suite with renovated bath, built-ins for books and TV and a large closet is unusual for this era of home. The laundry is in the master suite, adding convenience. And each of the upstairs bedrooms offers unique charm.
Not only will you find the indoor-outdoor family room, this home also boasts a main floor formal living room and a main floor study with fireplace. The basement offers excellent storage space, and a place to set up an exercise room.
- Year built: 1891
- Lot Size: 12,000 square feet – oversized and lovely!
- Square feet above grade: 3,768
- Basement Square Feet: 849
- Four Bedrooms, Four Baths and Three Fireplaces
- Detached 2-Car Garage
Priced at $950,000. Email Gretchen Faber through the Contact Button to schedule a showing.
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Denver Colorado Real Estate Statistics | March 2011
April 20th, 2011 categories: Market Trends
Real Estate is like a box of chocolates. Sometimes you get nuts.
- The nuts have been our foreclosures, our short sales, our underwriting issues and our tough appraisals.
Real Estate is like a roller coaster. Sometimes you go up, and then you fall fast. It takes longer to go up than come down.
- Interestingly, last year’s tax credit made our first half of the year incredibly busy. Then third quarter we fell off a cliff. It was so quiet! We all went to the pool.
- Prices have fallen across the nation since 2008. In some areas, they fell fast. Now, they’ll take longer to creep back up. Appreciation won’t be crazy fast like it was. It will be slower, more rational. This is the new normal.
Real Estate is like babies and teenagers.
- If you own your home, you need to baby it. Feed it with updates to keep it current. Clothe it in great curb appeal, lovely landscaping, an occasional fresh coat of paint and new carpet.
- Some days owning a house is like having teenagers. Temperamental (notice the word “mental” is in there?) Keep your mechanicals, appliances and roof in good working condition so you don’t have to use your mattress money to bail them out of jail.
Whatever your real estate is like, Denver real estate is always interesting. And the homes for sale are the bargain of a decade right now, with prices on the rise again.
In March 2010, the tax credit was just about to end. Buyers were in a tizzy to get their new homes under contract by the deadline. This was driving the market and the main price-point was the lower end, or starter homes.
This year, you can see in the chart that prices are moving back up. We don’t have much appreciation yet, if at all. We have a more normalized market, with the higher end finally coming back. In 2008-2010, jumbo loans were nearly impossible to get. Luxury homes were purchased with cash, so fewer luxury homes were selling. This resulted in significant price reductions by Sellers who wanted to compete and sell. Now that jumbo lending is back, rates are low and prices are low – the high-end is off of life support.
So Real Estate is like life. Ups and downs, ins and outs and always interesting. If you’re interested in searching for a Denver home or listing your fine property, call on Gretchen Faber and The Kentwood Company for assistance. Our company was ranked the #1 residential real estate company in the United States for per-agent sales volume in 2009, with 2010 results posted soon. We’re a dedicated team of professionals, looking forward to helping you find your next dream home.
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Gretchen Faber Presents 2600 South Madison – University Park
January 26th, 2011 categories: LifeStyle Listings
You’ll find all of today’s modern conveniences in this 2005 custom-built home. Observatory Park is among Denver’s most popular neighborhoods and boasts leafy trees, quiet walks, parks and paths – you’ll be thrilled to call this house home.
Every element of this outstanding home was designed with today’s lifestyle in mind. The main floor is open, roomy and wraps around the dramatic central stairway. Each room is large and comfy. The modern kitchen is complete with slab granite counters, high-end finishes, stainless appliances and opens to both the breakfast nook and the family room.
The formal dining room is connected to the kitchen by a full-service Butler’s Pantry and the garage is steps from the kitchen through a well-equipped laundry and mud-room. A large study or formal living room off the foyer adds wonderful space for a work-at-home office or a quieter entertaining spot.
The 4 bedrooms up each have their own full bath, terrific windows, and outstanding closet space. The master suite is complete with a gas fireplace, huge master bath and a large walk-in closet.
The professionally finished basement was designed with daily use in mind. Enjoy movie night in the theater area complete with wet bar, a crafting area and space for a pool table. Offer your guests comfort and privacy with a separate basement bedroom and bath.
Offered for sale at $1,150,000. Lease opportunity also available.
Search for this and other Denver area homes at www.GretchensDenver.com.
This property was leased in March 2011. Thanks for stopping by!
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Denver Colorado Real Estate | Top 5 Ways to Move Your Listing to First Place
October 25th, 2008 categories: Market Trends, Selling Strategies
Many home sellers are finding themselves heading into the Fall and Winter months with their house still on the market. “Why?” They ask, “My home is wonderful and I love it, why doesn’t someone else? Why are we missing the bullseye?”
Denver real estate is very segmented right now with some segments selling much better than others.
Many home sellers are on their second or even third listing agent and have reduced their price along the way. They’re wondering where they go from here. Even wondering if they should remove their house from the market through the winter.
Market trends dictate that sellers need to be calculating in how they approach the sale of their house. Here are my top 5 suggestions for sellers to keep in mind:
1) Get a New Market Analysis – when real estate prices are trending down you’re in a very different position than when prices are flat. If you get a new market analysis every 5-8 weeks, you can discern what’s been happening with actual sales in your area. If you see prices continuing to deflate then you need to get in front of that rock that’s rolling downhill. Price reductions putting you just behind the rock won’t help you move into first place for buyers.
If the prices seem to be remaining flat, then you can adjust your price to that place and then leave it there. Pay attention to other factors that will move you into first place and keep getting a new market study every month or two. Remember, prices of homes currently available on the market don’t count when comparing prices.
Avoid “pricing entitlement” – a friend just coined that term and it fits. Sellers need to realize that their house is a commodity that goes up and down (more up than down for sure). If you’re willing to look at stocks as an investment and recognize that sometimes you sell up and sometimes you sell down, why is it so difficult to recognize that this can happen to a real estate investment too? You aren’t entitled to a price, the market will tell you what the house is worth. You can choose to sell or to hold on for a price upswing, but you can’t change market perception.
2) Consider Staging – if you’re living in your house while it’s on the market, you’d be amazed what a staging specialist can do with your own belongings to make the house pop. A fresh eye on furniture placement, some added decorative items and massive de-cluttering can completely transform a property.
If your house is vacant, you should investigate professional staging. The addition of classy furniture adds warmth and pizzaz to an empty house. Staging can add up if you’re paying a monthly fee, but there are ways to economize – like staging main rooms and leaving secondary rooms unstaged.
3) Re-Frame From the Curb – are you missing showings that were scheduled, but they skipped coming in? Then you may have to act like a movie director and look at your house from the street to see what’s going on. Be critical – act like you’re a buyer and this isn’t your house yet. What do you see? If there is chipped or peeling paint, if the front door is dirty, if the grass or shrubs are dead (or they block the front) you’ll need to give some attention to the maintenance of the exterior of your house.
Washing the windows will add sparkle that isn’t overt, but still makes a difference. Buyers like to look out through clean and clear windows. Dirty windows add a dingy feeling to an otherwise nice property. You can hire a window washer, or buy one of the spray products that screw onto a hose.
4) Paint the interior – I like colorful walls, and have several rooms in my house painted in color. That probably isn’t the best way to show a house. Neutral (with a little spark so it’s not boring) is much better. If you already have fairly neutral walls, but they haven’t been painted in over two years, then re-paint again. Fresh paint makes a world of difference in a buyer’s attitude about a house. If you have white walls, that’s just as bad as having too much color. White is harsh and cold – it doesn’t add a feeling of warmth to a house.
5) Have Your House Ready – too many sellers get preparedness fatigue after a few months on the market. They’re sick of living in a show home, tired of picking up and harassing the kids, and want to leave the bed unmade for just one day. Discipline yourself – don’t fall into this trap! I can’t tell you how many times I’ve walked into cluttered and unprepared homes with buyers lately. It amazes me that sellers would let their guard down when there is so much competition. Can some buyers look past this and see the house for what it is? Sure, a few can. Is that a risk you want to take?
Keep things in perspective, keep a positive attitude and remember that there’s an ass for every saddle! Your saddle just needs to be in first place on a buyer’s list.
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3 Open House Requirements
September 22nd, 2008 categories: Real Estate News, Selling Strategies
It’s time to hold an open house and your real estate broker has scheduled the date and time. You may not realize that there are a few essential preparations you need to be making prior to that day.
1) Clean as if your life depended on it. My sister and her husband called me recently as they left an open house. They’d admired this home for a few years, and when it was finally held open, they were excited to see the inside of the house. This is a $2.4 million home in Denver. They entered the house and the carpet was filthy, there were stains throughout the house on all of the floors. The ceilings, light fixtures and ceiling fans were covered in cobwebs. Needless to day, they left diasppointed. The sellers should have spent the day before cleaning and getting ready for their chance to shine. Instead they fell flat.
2) Remove personal items. There are people who will visit an open house just to obtain private information, jewelry or prescription medications. Hide or remove valuables and medications. Security lock your computer and keep bills and personal mail out if sight. A few years ago, a client had recently endured knee surgery. During our open house the pain medication he’d been prescribed was stolen. The open house was very busy that day, and I had no way to keep my eye on everyone so the pain pills walked out the door with someone.
3) Think of the 5 senses. Buyers like a house that is light and bright and has plenty of fresh cut flowers, smells like vanilla or cookies, has soothing soft music and feels like home with an abundance of textures in fabrics and finishes. You can even appeal to visitors’ taste buds by offering them some cookies or chocolate.
Keep your house ready for showings at any moment. It’s more likely that buyers will see your home with another real estate broker who has set up an appointment rather than at the open house. But you never know, so help your broker who’s taking Sunday afternoon to hold an open house and make your home shine.
To view Denver Real Estate, relocation information and Denver maps visit GretchensDenver.com.
Visit the Park Hill home tour Sunday, September 28th and stop by our open house at Montview and Grape.
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9276 East Vassar Avenue
July 23rd, 2008 categories: LifeStyle Listings, Real Estate News
SOLD – $1,375,00 – February 2009
Lovely golf course home in Cherry Creek Country Club exudes elegance. Custom built in 2006 by Landmark Custom Builders with attention to detail.Wood and tile floors, stunning mill-work and slab granite kitchen counters. The house backs to the 2nd fairway with views off the deck to the southwest and the mountains.
Visit the home’s custom website for specifics and interior photos.
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Selling Your House for What You Need!
June 22nd, 2008 categories: Market Trends, Relocation Tips, Selling Strategies
In today’s Wall Street Journal section of The Denver Post is a column written by Jeff Opdyke. “A Trip – And a Change of Heart” tells the story of his unfortunate experience in trying to relocate to Hong Kong. Unlike the New York Times, WSJ blocks out online readers unless they subscribe, so I don’t have a link to the column.
Opdyke tells of the difficulties of selling his home, of finding the proper school situation for his children, and of locating a suitable apartment in Hong Kong. It sounds like is was a heart wrenching decision for his family, but they decided to pass up the opportunity after a fraught trip to settle the details.
There are probably many reasons why the decision was the right one for this family – international relocations can be difficult.
The rewards for some are huge, but it still causes upheaval. Much of my client base are relocating families, and several have been posted in China and Hong Kong. They describe such an acute lack of closet space that the extra shower becomes suitcase storage. They also describe the joy of finding peanut butter in the small local grocery mart.
A Realtor friend of mine, Bill Dolan, was so moved by Opdyke’s column that he wrote the author a letter in response. Bill noticed some very telling things about the comments Opdyke made regarding the sale of his home in Louisana. He’s given me permisson to reprint his comments, but I’ve edited them down a bit. You’ll get the gist.
Having worked with many corporate transferees over the years, I couldn’t help but take special notice of some select sentences from your article:
- “Nor can we afford to reduce our house price by the amount we’d need to move it quickly.”
- “We can’t afford to throw away tens of thousands of dollars in equity to facilitate a rapid sale.”
- “That leaves us no choice but to wait out the market.”
Real estate values have declined in every single area of the United States. In my opinion, before you even entertained the idea of moving to Hong Kong, you should have contacted three brokers and/or an appraiser to ascertain market value of your home and used that as a platform: if I jump, can I make it to the other side of the gorge? I am amazed at how few sellers are willing to accept or even try to understand the concept of “fair market value.”
- Your house would move quickly if you priced it at “fair market value.”
- You are not throwing away tens of thousands of dollars in equity to facilitate a rapid sale. You can’t throw away something that isn’t there to begin with. What you paid for your house, and what you owe against it are not relevant. The definition of fair market value is what a ready, willing and able buyer pays for a commodity. (As an aside, what do think the current fair market value of a large SUV is these days? Same as last year, or the year before?)
- You don’t need to wait out the market. If you are not willing to accept today’s “fair market value,” then take the home off the market until the market tells you that you have the equity you want or need to make a move.
I love this article from the New York Times. It is now part of my listing presentation. Over the years I have come to the conclusion that if a property is on the market for more than 30 days or has had 15 showings without an offer, then the price is too high (There are certain exceptions when it comes to very high-priced multi-million dollar properties.)
Good luck with your future relocations.
I’d like to call Bill’s comments an open letter to sellers. This is such a tough conversation to have with sellers. We Realtors aren’t without sympathy for your plight. We certainly wish you could “get what you need”.
I’m a little more patient than Bill seems to be. I generally say 20-25 showings and at least 30 days on the market is the test period. If you don’t have an offer after 25 bona fide buyers have walked through the door, then the price is too high. Your broker is doing his/her job if you’ve had that many lookers. The broker’s job is to expose the property and get traffic.
I’ve had sellers say to me, “Well, you’re just not convincing them to write an offer.” What should I do? Put a gun to their heads? Often the feedback is just disguised price objections. If the Buyer’s agent says that the house is on a busy street or needs too much work or looks outdated, then that’s a disguised price objection. A seller’s choice it to pick up and move the house or drop the price; update the house or drop the price. Sellers don’t like to hear this, and delivering the news isn’t the fun part of our jobs. It’s probably even worse than putting out open house signs…
So, thanks for sharing Bill. Good luck!
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