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Archive for July 2008
July 29th, 2008
On Friday, my client called me SO excited to see a listing right around the corner from the LIVE Urban office. I pulled up the listing and met her there within minutes - it had just gone on the market that morning and seemed too good to be true.
We toured the property, a cute little bank-owned half-duplex with a garage and shady deck, private backyard, and nice, open layout. There were other buyers going in as we were leaving, so I walked straight back to the office, pulled comps, and we decided to offer almost $20,000 above the list price - my buyers LOVED this property and the comps showed that market value was higher than the property had been listed.
We submitted an offer within the hour, and I called the listing agent and his office several times to make sure that they had everything they needed to submit the offer to the bank. I was told that the listing agent was out of town, but that the offer would be submitted to the bank immediately - I had a feeling it would not. We spent the weekend waiting it out, but I knew that the bank would still be accepting offers over the weekend.
Yep, same old story - there were 20 offers on the property - and my buyers didn’t get it - too bad they also didn’t have a chance to enter the bidding war or even receive a counteroffer, because both the listing agent and the bank sat on the offers until there were so many on the table they were rolling in them.
Maybe the banks have the right idea - create a frenzy by pricing the property so low that dozens of buyers fall in love and submit offers, cross their fingers, and then….wait, only to be disappointed by the entire process. Should homeowners wishing to sell their homes quickly be doing the same thing? Listing their property at 20-30K below market value?
Maybe. Maybe this is what the confused market has finally come to - but it’s a rough game for Buyers, and for their agents!
Posted in Uncategorized | No Comments »
July 27th, 2008
We checked out the Parade of Homes on Friday, so I thought I would put up a quick photo tour:
The villas on the tour have breathtaking views of the foothills as well as Soda Lake and Red Rocks, taking full advantage of the unique location, which is only about 15 minutes from Downtown Denver. Read the rest of this entry »
Posted in Denver Real Estate, Golden Real Estate, Lakewood Real Estate, Real Estate News, What to do in D-Town, What's going on?! | 1 Comment »
July 23rd, 2008
Inspired by an article I’m writing for LIVE Urban’s next newsletter, which is all about LIVING green, I decided not to go shopping for new patio furniture, and repurposed instead. (I love that “repurpose” is a verb now!)
So, two old, shabby chairs and a leftover can of yellow paint became a fun, free project that kept Hudson and Elliot busy for a whole hour, and they turned out great!
Next up, the hand-me-down tables that are sitting in the basement…
Posted in Green | No Comments »
July 22nd, 2008
A Cantilever is a beam anchored only at one end, used to support a balcony or cornice.
Posted in Glossary | No Comments »
July 21st, 2008
At this morning’s team meeting, we were talking about the lack of listings on the market, especially in Northwest Denver. It seems like we have seen everything that’s out there, and we have buyers that are looking, even in the higher price ranges, but there really isn’t a surplus of inventory.
Why is that? Is it because homeowners have read the news just like everyone else, that keeps telling us that the market is down, prices are down, and you should hold it if you’ve got it? Because those property owners should be looking to move up the property ladder now, if this is true! The market is very active in our neck of the woods, and we have buyers walk in the door everyday. I know that I would love to have a bunch of new listings to show them!
So, if you’re sitting on a property but you’re thinking it’s a bad time to sell, that might not be entirely true - because poptential buyers are reading the same news that you are - that this is a great time to buy, that prices are down, that inventory is high - and they are looking to purchase their next home - which could be yours.
Posted in Denver Real Estate, Uncategorized, What's going on?! | 2 Comments »
July 20th, 2008
At LIVE Urban, we’re fully on board the green train - launching a LIVE green-focused marketing strategy next month, along with an electronic version of our newsletter. We’re one of the few brokerages in town that uses e-contracts to reduce printing and paper use, and we have a ton of listings that are built completely green.
We do not, however, work in a storage container…yet. Read the rest of this entry »
Posted in Green | 3 Comments »
July 19th, 2008
This article in today’s Rocky is really inspiring. I often have buyers ask me about the Denver Public School system, and I usually send them to school review sites like GreatSchools.net or the district’s website, because, as much as I can talk about different neighborhoods, shopping, amenities, home and location values, I haven’t been in every DPS school.
Read the rest of this entry »
Posted in Real Estate News, What to do in D-Town, What's going on?! | No Comments »
July 19th, 2008
A college savings plan doesn’t always have to come in the form of a savings account or a 529. With three kids and another on the way, I’ve been giving some serious thought to how we will be able to support four kiddos as they get through school. We haven’t started any kind of savings strategy as of yet, but I know that we need to.
Read the rest of this entry »
Posted in Arvada Real Estate, Denver Real Estate, Mortgage News, Quick Hits, Real Estate News, Westminster Real Estate, What's going on?! | No Comments »
July 16th, 2008
I grew up near Westminster Mall, and, I have to admit, spent more than my fair share of time “cruising” the mall in high school. Back then, it was the cool place to be. Now, it’s a hole. Dark and dingy, it’s a place where retail goes to die.
I am so psyched to hear that it is finally going to be redeveloped into a Belmar-like environment. It’s in such a good location, and there is a ton of reasonably-priced housing available very nearby. It’s also right between Denver and Boulder, has easy access to Highway 36, and I really hope that Old Navy and H&M move right in.
Read the rest of this entry »
Posted in Real Estate News, What's going on?! | No Comments »
July 15th, 2008
Your credit score: did you know that you have to have a credit score of 700-plus to qualify for a low-rate mortgage?
First, your credit score is a number assigned to your creditworthiness.
Your credit score indicates how well or how poorly you’ll repay a debt. The higher the number, the more likely you’ll repay on time.
Your bill paying information on credit reports provides the basis for your credit score.
Consumers who take the time to obtain their credit score, for only about $15 under most circumstances, are more likely to have a better understanding of the scores.
That includes knowledge that mortgage lenders rely heavily upon credit scores to approve or reject home loan applications. Read the rest of this entry »
Posted in Mortgage News, Real Estate News | 1 Comment »
