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Archive for the 'What's going on?!' Category
August 31st, 2008
I had a closing Friday (yay!) and I agreed with the mortgage broker who had referred the client to me, that we really needed to blog about this situation - which ended up being a win for everyone involved, because it was such a perfect example of why it’s really important to be fully prepared and pre-qulaified when you find the property you want.
My clients are first-time investors (both accountants) who are, luckily, extremely organized with great credit. Although they weren’t completely sure what type of property they wanted at first, or in what neighborhood, they did know that they wanted a great deal (of course) in a popular Denver area, and they knew they wanted to keep it as a rental property.
We looked at over 50 properties, all over the Denver area, from flipped condos to foreclosed duplexes, and wrote 4 contracts that didn’t go through.
I was out previewing some new listings for them when the client called - a new listing on a great street in Lower Highlands had just come up in the MLS, and the price seemed ridiculously low for a 3 BR 1 BA on an 8000 SF lot - and there was no picture. Assuming that it was too good to be true, I drove by to take a look.
A cute little stuccoed bungalow on a great lot, the house was a bit run-down but had great curb appeal, and the location couldn’t have been better. Right up the street from the new Pasquini’s and Duo Restaurants, as well as all of the little cafes, coffee shops, and charm of the shopping district, and within blocks of the Pedestrian Bridge, this house was a charmer - and a steal. Listed at $129,900, there is nothing that would even try to comp in that area for less than $200,000.
I scheduled a showing and the clients raced over to meet me. They wanted that house. (So did I!)
We wrote an offer after I spoke to the listing agent, who told me that they had a few offers in but that he hadn’t presented them yet. We offered more than the list price, but here is what clinched the deal - we were able to close in two weeks. Because my clients had all of their documentation in, and the mortgage broker had everything they needed for a quick close, the sellers went with our offer, which wasn’t the highest, because they wanted the closest closing date possible.
So, lesson learned - even if you are pre-qualifed, keep in close touch with your lender and make sure that your file is completely up to date as you look for that perfect property - a little organization and diligence might just win you the prize!
Posted in Denver Real Estate, Mortgage News, Real Estate News, What's going on?! | No Comments »
August 30th, 2008
I always like to read some good news - that’s why I like the site http://www.happyrenews.com/ - and why I was psyched to come across this article in the Rocky Mountain News:
Good news for Denver-area housing market By John Rebchook
The Denver area housing market showed the most appreciation of 20 metropolitan areas tracked by the closely watched S&P/Case-Shiller Home Price Indices from May to June.
The Denver area showed a 1.5 percent gain in that period. Boston, with a 1.2 percent increase, was the only other metropolitan area to show an increase.
The average percentage change in that one-month period was a loss of 0.5 percent for all 20 cities, and a loss of 0.6 percent for 10 of them.
Denver and Boston have shown three consecutive months of positive returns. Denver homes showed a 4.7 percent decline from June 2007 to June 2008, the third best of the 20 cities. Read the rest of this entry »
Posted in Arvada Real Estate, Denver Real Estate, Golden Real Estate, Lakewood Real Estate, Real Estate News, Westminster Real Estate, What's going on?!, Wheatridge Real Estate | No Comments »
August 30th, 2008
The Sunnyside Music Fest is back next weekend with great music, shopping and eating, as well as fun stuff for the kiddos and cute new merchandise.
Stop by the LIVE Urban booth and say hi - we will be there throughout the event, from 10 am to 8 pm at Chaffee Park, which is at 44th and Tejon.
Get your Sunnyside groove on!
Posted in Denver Real Estate, What to do in D-Town, What's going on?! | 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 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 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 10th, 2008
This sounds like a great event for a great cause!
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When: July 19th, 3p.m.
Where: Highlands Square (32nd and Lowell)
Over 25 items from local merchants are included in the scavenger hunt including
a LIVE auction at the closing event.
Kickoff Party at Cafe Caliente 3701 W. 32nd Ave
Closing Party at 6p.m. Sushi Hai 3600 W. 32nd Ave
(winners will be announced)
100% of the proceeds from bidding will benefit Dress for Success - The mission of Dress for Success is to promote the economic independence of disadvantaged women by providing professional attire, a network of support and the career development tools to help women thrive in work and in life.
Posted in What to do in D-Town, What's going on?! | 1 Comment »
July 9th, 2008
OK, we all know it is a serious pain in the booty to have your house on the market. Real estate agents call at the last minute and want to show it, sometimes they are even sitting outside, waiting for the lockbox code with buyers in their backseat - while you are trying to get the kids breakfast and clean up after last night’s supper. Read the rest of this entry »
Posted in Real Estate News, Uncategorized, What's going on?! | 1 Comment »
