Real Estate & Relocation ^ Colorado

A day trip to Breckenridge

We took a quick trip up to visit Breckenridge and to admire the International Snow Sculpture Championships.  For once I actually made note of when it was rather than hearing about it after it was over!

It was a joyous escape to the high country down 285 to Fairplay and in the back way over magnificent Hoosier Pass to Breckenridge.  The weather for an out door festival was great, yet at 32 degrees it was cool enough to keep the sculptures from pouring away and not to chilly for the spectators.

See the pictures in the Photo Album.

Our ride home was slow, it began to snow...sideways.  Thankfully it only does that in the mountains.  Or rather most of the time it does that in the mountains.  Or more often than not.....oh forgetaboutit.

View the pics... (click on photo to enlarge)

Liang Zhu

People's Republic of China
The story of Liang Shanbo and Zhu Yingtai, known as the Butterfly Lovers, is based upon a historical legend known to every Chinese.  Their love plunged them into fatal tragedy. Both of them turned into a pair of beautiful butterflies when they died for their love.  To this day, people still believe that the two butterflies were the undaunted spirits of the young lovers.  Captain: Wang Jianhua

Broomfield Growth

Broomfield continues to have significant growth as Del Webb and Pulte Homes plan a 2,648 acre neighborhood.  Located near the intersections of I-25 and Northwest Parkway, Del Webb, known for their tremendous success of active-adult communities in Arizona plan for 1,500 homes.  Additionally, Pulte plans 1,600 non-age restricted homes.

The community known as Anthem Ranch will be the third of it's kind in the U.S. Two other Anthem communities exist in Las Vegas and Phoenix.

The first homes will be completed by October 2005, with the remainder building out in the next five to seven years.

Prices have not yet been set, but are expected to be in the $300's.

Denver real estate statistics

The most homes sold in the Denver metro real estate market were in July and June.  The summer months saw activity of 6229 homes closed in July and 5164 in June.

December 2004 was significantly better than December 2003 when we sold 4416 total units for the month, 831 more than in 2003.

The graph below indicated the amount of homes listed for sale and the ones that actually close. (click on graph to enlarge)

Addtional information about preparing your home to sell in the current market can be found at:

Helping you sell your home

Pricing your home to sell

Staging Your Home to Sell

The way you live in your home and the way you sell it, are two different things.  The most successful home sellers know this.  Many will go to extreme efforts to stage their home.

This year I had a client who was leaving the country. She had two small children and was faced with the task of selling her home. 

Since it was difficult to keep the home looking nice, while selling all the families personal possessions this home owner opted to hire a "professional stager".

Over the course of a few weeks, my homeowner sold all her household goods and moved into an apartment.  In order to make her house show well, she paid a "stager" to come in an furnish it.

The stager completely furnished the home with beds, sofas, a dining room table and chairs.  Additional decorating details of wall decorations, blankets and books pulled the setting together, making it warm and friendly.

The house sold within a good time and the homeowner was off to her next challenge.

While this may be an "extreme" measure for most people, it is part of what a homeseller must consider doing.  If your home isn't decorated like a "model" you can hire a pro to help you. 

The cost typically will be a good investment in both time and money.  Your home looking good will sell at a higher price, quicker.

Curious and want more information about staging your home to sell?  Visit "Setting the Stage" at The Berkshire Group, Realtors.

Using Feng Shui Techniques to Sell Your Home

Denver homeowners have been adopting various techniques to sell their homes. Feng Shui is an evolved study of the natural and built environments.  Using Feng Shui to effect changes that improve people's feeling and well being have been helpful in the sale of homes.

Resources for Feng Shui can be found at The Berkshire Group, Realtors, A Denver Real Estate Company.

Pricing your Home

Setting the asking price of a home is a function of studying the market to see what like homes are selling for.  Looking at the numbers gives a seller a clue as to what a willing buyer will pay for his home.

Considering the amount of competition is important too.  Having a large number of competing homes on the market, makes for a "buyers market".  The reverse is true in a "seller's market" where the inventory is few.

Your price has nothing to do with "need".  Yes, you may need a huge downpayment to purchase your next home, but that has nothing to do with the value of your home.

Pricing you home well above the market will hurt it in the long run.  The longer your home stays on the market, the stronger the signal is to the real estate community that "something is wrong" with the house.

When agents start working with new customers, they start with the newest listings first, assuming they offer the best odds for selling.  The older listings linger longer because the perception is the home is either not in good shape, over priced or the owner is unreasonable and difficult to deal with.

Homes that sell the best are the ones  priced within the market, readly available for showings, clean and staged to show.

For more tips on selling your Denver home

Inspections prior to sale

In various areas around the country real estate customs are different.  In California, is is customary for the seller to have his home inspected prior to putting it on the market for sale.  In Colorado, the seller puts his home on the market and lets the buyer inspect it.

This custom is not in the best interest of the Colorado home owner.  Why?  Most real estate transactions fall to close due to inspection items.  Typically, it's an item that the seller could have easily fixed if he had known there was a problem. 

Understanding that buyers get very touchy about having homes with unsafe or excess items of deferred maintainance.  If they find an issue that the home inspector calls to repair they will ask the seller to repair it.  If they ask for a monetary amount it's usually in excess of the actual cost to repair. Even if the seller is willing to repair, the buyers may insist on terms that the seller isn't willing to meet.  When the parties can't agree on settlement, the buyers walk.

In an effort to avoid wasted time and aggravation, the seller should hire his own inspector to find defects prior the home going on the market.  If issues are found, the seller can remedy them.  By doing so he is putting his house in the best light for the prospect.

Since home inspectors are not required to be licensed in Colorado, choosing a home inspector can  be tricky.  Naturally the seller should hire an experienced reputable inspector for the job.   The American Society of Home Inspectors (ASHI) have an excellent reputation, primarily because of their tough membership requirements, testing and continuing education.

To learn more about Home Inspections visit The Berkshire Group.

The best paying renovations to make in your home - Denver, Colorado

Homes need updating from time to time.  It seems every seven years the styles and colors change, making some homes more obsolete than others.

If you are thinking about renovating your home, prior to selling it, you want to be sure to spend money where it counts.  If you spend a $1 it would be best that you receive your $1 (or more) back upon the sale. 

Large ticket renovations are best made during the time when you can enjoy them for a few years. Kitchens and bathrooms are in this category.  The cost to renovate these needs to be done long prior to selling the home, unless of course you have a huge equity in the home and the neighborhood values support the improvements.

Avoid the Handyman Special Look

Additions of rooms and wings to a home seldom bring in an equal dollar amount to what they cost.  Such additions are typically done for the enjoyment of the owner.  Sometimes, if they are done in a less than "workmanship manner" they are  a detriment to the sale of the home. 

The best money spent is on paint and carpet.  Most buyers are not willing or able to purchase a home and then come in to paint and carpet. They have spent all their available resources to obtain the home, so having it completed is always a plus.

Pay Attention to Every Detail

Homeowners that do "partial" renovations are making a big mistake.  It is human nature for buyers to look at what is "not done" as opposed to what "is done".  So when planning to do renovations do them completely, right down to installing new switch plates on the wall.  I guarantee if a seller were to complete the entire renovation, and not place the switch plates, the buyer would notice the missing switchplates and NOT the renovation.

Remoldeling Magazine publishes a "Cost vs Value" report covering 53 cities around the U.S. The report accounts for various remoldeling job costs, resale value to the home and how much of the cost is recouped.  The costs for Denver, Colorado are as follows:

Type of Remodel	Job Cost	Resale Value	Cost Recouped
Major Kitchen	$41,859	$27,000	64.5%
Bathroom	$10,023	$6,143	61.3%
Master Suite	$66,830	$42,143	63.1%
Family room	$51,017	$30,000	58.8%
Window replacement	$8,854	$6,643	75.0%
Roofing replacement	$10.664	$5,286	49.6%
Attic bedroom	$34,668	$22,714	65.5%
Basement remodel	$47,174	$21,714	46.0%
Sunroom addition	$30,384	$11,143	36.7%
Deck addition	$7,374	$3,571	48.4%

Improvements are described as follows:

Major Kitchen Remodel: Update an outmoded 200-square-foot kitchen with new cabinets, laminate countertops, and standard double-tub stainless-stelel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, and garbage disposer.  Add custom lighting and new resilient floor.  Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3 by 5 foot island.

Bathroom Remodel: Update bathroom that's at least 25 years old.  Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid-surface vanity counter with integral double sink, recessed medicine cabinet, ceramic tile floor, and binyl wallpaper.

Master Suite Addition:  On a house with two or three bedrooms, add a 24 by 16 foot master bedroom suite over a crawlspace.  Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3 by 4 foot ceramic tile shower, and double-bowl vanity with solid surface countertop.  Bedroom floor is carpet; bath floor is ceramic tile.  Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.

Family Room Addition: Add a 16 by 25 foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable skylights.  Tie into existing heating and cooling.

Window Replacement:  Replace 10 existing 3 by 5 foot double-hung windows with vinyl or aluminum-clad, double-glazed, wood replacement windows. Wrap existing exterior trim as required to match.  Don't disturb existing interior trim.

Roofing Replacement: Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.

Attic Bedroom:  In a house with two or three bedrooms, convert unfinished space in attic to a 15 by 15 foot bedroom and a 5 by 7 foot shower bath.  Add a 15 foot shed dormer and four new windows. Insulate and finish ceiling and walls; carpet unfinished floor.  Extend existing heating and central air conditioning to new space.  Retain existing stairs.

Basement Remodel:  Create a 20 by 20 foot entertaining area with wet bar, a 5 by 8 foot full bath, and a 12 by 12 foot auxiliary room.  Exterior walls are insulated. Include five six-panel primed hardboard doors.  Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and snap-together laminate flooring system.  Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan conbination, vanity light fixture, and recessed medicine cabinet.  Bar area includes 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.

Sunroom Addition:  Add a 200-square-foot sunroom to a two-story house.  Form and pour footings for slab-on-grade foundation.  Use exposed post and beam framing on interior side and extruded aluminum window frame and flashing system with insulated, low-E laminated, or tempered glazing.  Provide for natural ventilation using screens and ceiling fan.  Insulate all non-glass areas; provide movable shades for glass area.

Deck Addition:  Add 16 by 20 foot deck using pressure treated SYP joists supported by 4 by 4 posts set into concrete footings.  Install composite deck material in a simple linear pattern.  Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.

More Neighborhoods for Douglas County

North of Castle Rock, the Canyones South community has been purchased by an affiliate of Denver-based Cooper Investment Group.  The site has been approved for 698 upscale single family residences, an 18-hole golf course and a country club.

Prices are expected to be in the $500k to $1 million plus range.  The developer expects to make the first lots available to the builders late in 2006.  The total build out time of the neighborhood is expected to take about 10 years.

Considering the excellent location of the property and the expected diversity of the neighborhood, this project will be one that does well.

Selling Your Home - Are you serious?

If you are pondering whether or not to sell your home, you should begin with examining your reasons for selling.  Are you wanting a different home because your current home no longer meets your needs? Do you feel it's time to move because your home is old and dated? Are you mostly interested in selling at a handsome price just because you think you can?

There's no right or wrong answer to this question.  The answer lies with you.  What is important is to judge the strength of your motivation.  Selling a home is an invasion of ones privacy.  It takes time and determination to do it right.

If you lack the determination or as Realtors call it "motivation" the experience could just be one of frustration and aggravation.

So, if you are downright serious and willing to listen to a professional, who knows how to sell a home, you will avoid wasting time and energy for nothing.

Examine your motivation for selling before jumping into the seller's pool.  If yours is short don't bother.  If it is strong, continue reading. 

Tomorrow we talk about the most important renovations to complete (or not) when selling your home.

To talk to a professional in home sales, call The Berkshire Group, Realtors, a Denver real estate company.