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Total Properties Listed: 14,982
Month / Month Chng: -14.32%
Avg Days on Market: 144
New Listings Today: 112
Median List Price: $328,042
Month / Month Chng: 0.94%
 

The Denver Real Estate Broker Blog

Empty Nest Home Shoppers Should Target These Denver Neighborhoods

The typical story goes that when the kids grow up and move away, the so-called "empty nesters" find themselves having difficulty grappling with the changes. Your little ones leaving the nest doesn't have to be a cause for stress, though. For many, it's just the start of an exciting new chapter.

For most couples with grown children, proximity to the exciting urban life without the congestion or high rents of city living is ideal. These areas sport a huge array of options for culture, activities and entertainment, while still maintaining a tight-knit feeling that makes you feel at home.

Park Hill

Majestic trees line the streets of this charming northeast Denver neighborhood. With a tightly-knit community and staggering array of old-world architecture, including Tudor houses, bungalows, and Victorians, Park Hill can feel like stepping into a different era. But it's certainly modern: new restaurants and boutiques are opening all the time, and major attractions like the Denver Art Museum and History Colorado Center are easily accessible by public transit.

Highlands

This up and coming it-neighborhood has a funky, energetic vibe that will invigorate anyone who steps inside. With charming cafes, quirky fashion boutiques and plenty of live music options, it offers a plethora of fun for the bohemian in all of us. The Tennyson Street Cultural District is home to dozens of galleries and art shops, drawing in a diverse crowd of artists and free thinkers. The neighboring Navajo Art District is one of Denver's best-kept secrets, boasting sculpture, illustration, woodwork, and performance art from local Native American craftspeople.

Wash Park

Washington Park (or Wash Park as it's known to the locals) is one of the most-beloved neighborhoods in all of Denver. With the gorgeous single-family homes, an abundance of activities to take advantage of its beautiful scenery, and crime rates that number among the lowest in the city, it's no wonder that its residents are so proud. Located in south-central Denver, this area has a good mix of young, hip residents and older, established professionals. Luckily, there's something for everyone, from outdoor volleyball to cute bookstores and everything in between.

If you are an empty nester about to embark on a home search, begin your journey by checking out the Neir Team listings. You can search by neighborhood to find the ideal property and start the next chapter of your life.

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Best Denver Neighborhoods for Holiday Shopaholics

Are you ready to hit the pavement in Denver to find those best holiday shopping discoveries? There are so many options for shopaholics that getting started is a challenge of its own. Never fear -- this handy guide will take you through the best Denver shopping neighborhoods so you can start your journey to great deals on the right foot.

Cherry Creek

One of Denver's more affluent neighborhoods, Cherry Creek is just a few steps south of the city's downtown. With over 300 boutiques, cafes and shops to choose from, Cherry Creek is one of the best shopping destinations between San Francisco and Chicago. The choices range from eclectic to sophisticated. After you've made your selections, a refreshing stroll or bike down the neighborhood's 22-mile bike path is the perfect relaxing end to a long day of fantastic bargains.

LoDo

LoDo is one of the city's trendiest hotspots, boasting an impressive assortment of boutiques and restaurants. The most prominent feature is undoubtedly the 16th St. Mall, a sprawling outdoor promenade that features galleries and fine dining along with retail establishments. If your feet are sore from the trek up the mile-long mall, don't worry: a free shuttle transports weary shoppers from beginning to end and back again. Booklovers should be sure to not miss the Tattered Cover, an expansive cathedral of a bookstore crammed full of paperback and hardcover selections. The store's armchairs are even conveniently placed next to cozy fireplaces -- the perfect break between shops.

Highlands Square

Perched up at the tip of northwest Denver, Highlands Square is an up-and-coming neighborhood with a funky and bohemian vibe. Looking for the perfect vintage jewelry set or a handmade afghan? Highlands Square has you covered. You can also find hip gifts like organic fair-trade coffee, artisanal soaps, bespoke lingerie and more.

If you want to be as close to the shopping action this holiday season and all year round, consider expanding your home search to one of the neighborhoods listed above. Check out our property listings by neighborhood and get ready to satisfy your deepest shopping desires.

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Estimating Denver Home Values

Estimating Denver Home ValuesDenver home values are on the rise. Over the past couple of years buyers have been very competitively going after properties on the market and prices have gone up accordingly throughout the metro area.

If you’ve been in the same home for years and haven’t checked on its value in a while, you could be in for a nice surprise. The market conditions, along with low interest rates, make this a good time to sell.

Whether you’re about to list your home or you’re simply curious about what it would be worth on the market, here is a process you can follow to accurately gauge its value.

Art and Science

Starting with objective research of recent sales of similar properties is a great place to start. That will give you the best idea about market value. To gauge the ideal sale price, it also helps to have a gut-level understanding of the Denver housing market.

Think of it this way: “market value” is what your home would be worth irrespective of any special circumstances, but “sale price” is the actual number you need to land on to make as money as possible within any special time or market constraints. The best way to balance the art and science of picking a home sale price is to use the Neir Team’s free market analysis search.

If you want to estimate the value of your home yourself, you need to look deeper into sales of similar properties. First, let’s define what could make a property similar to yours. It must have comparable:

  • Location
  • Lot size
  • Square footage
  • Number of rooms
  • Home style
  • Age

It’s unlikely that you will find a property that perfectly matches the characteristics of your house, but you should be able to come up with a rough estimate. Adjust up or down depending on the discrepancies between your home and the recently sold homes you find, keeping in mind that location has a big influence on price.

If your home is about to go on the market, it’s essential that you select the right price. By using the Neir Team’s free market analysis, you ensure that you have tons of experience and gut-level understanding of the Denver housing market on your side.

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Denver Trick or Treating Guide 2014

While dressing up is a big part of the fun of Halloween, you can’t say it’s been a perfect holiday if you didn’t enjoy a good walk in a safe neighborhood and score a full basket of candy.

Many people will stick to their own block this Halloween, but this is a great opportunity to get out and explore some different parts of the city. You might like the treats you find in one of Denver’s top four neighborhoods for trick or treating.

Here’s a Denver Trick or Treating Guide for 2014:

Cherry Creek

The Cherry Creek neighborhood is bordered by Colorado Boulevard, University Boulevard, First Avenue, and Seventh Avenue. In addition to seeing many gorgeous homes, you also can count on staying safe and walking away with a big haul of candy.

Washington Park

Between I-25, Downing Street, Cherry Creek, University Boulevard, and Cherry Creek you will find the Washington Park neighborhood. The nice homes are tightly packed together here, making it prime trick or treating territory. You won’t have to do a lot of walking to fill your basket.

Hilltop

Alameda Avenue, Monaco Parkway, Severn Avenue, and Colorado Boulevard make up the borders of Hilltop. You’ll enjoy a safe walk through this beautiful upscale neighborhood. If the kids get tired, take a break and enjoy a Halloween parade in Cranmer Park, which is centrally located in the neighborhood.

Congress Park

This is another highly populated neighborhood that should give you plenty of opportunities to knock on doors and collect candy. Bordered by Sixth Avenue, Colorado Boulevard, Colfax Avenue, and York Street, this neighborhood is known for homes that go all out with decorations during Halloween and other holidays.

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You Can Afford a lot More Home Than You Think

AffordibilityAt least right now, October 15th 2014. Rates this week are phenomenal and represent a great opportunity.

We have found that most people shop for a new home based on the monthly payment and not the cost of the home. At least this is where most buyers start when determining the price range for searching. This makes sense as the monthly payment translates to the carry cost of owning the real estate. The “sticker price” has little tangible value with regard to affordability without a monthly payment.

When looking at the monthly payment for financing a new home, a big driver is the interest rate. We find it fascinating how much the interest rate changes the amount a buyer can purchase at the same monthly payment. The rule is fairly obvious, the lower the interest rate the higher the purchasing power. That sounds good but translating it into real numbers revels the AHHA!

Every 1% decrease in interest rate translates into 10.75% increase in purchase price. This also works in reverse, as it will erode purchase power when rates are rising.

So a buyer that wants a monthly payment around $2,000, with 20% down can afford a $500,000 home at a 4.75% rate.

That same payment gets the buyer a $553,750 home when the rate drops to 3.75%.

So as a real estate broker we like to keep an eye on rates as they have a direct correlation with affordability.

Today’s rates: 

October Rates

Please let us know if you would like us to run the numbers based on your specific purchase.

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You’ve Decided to Buy a New Home, Now What?

Congratulations, you have decided to buy a new home. That decision ushers in a flood of emotion ranging from excitement to anxiety.

In order to help with the later, we have created a home buying guide that identifies the steps in purchasing a new home.

Weather you’re a first time home buyer or seasoned owner, we feel our road map helps organize and simplify the process.

There are quite a few steps when purchasing a home. The graph below is a visual representation of the home buying process. 

It all starts with hiring a professional real estate broker to guide you through the process. You will want to hire a broker that is an expert in the areas you are considering a purchase. More: Denver Real Estate Broker Duties, Home Purchase 

Once you select to real estate professional to help facilitate your home purchase you will want to get pre-qualified/approved for your new home loan if you require financing. Selecting a lender is a very important step. Get referrals from people you trust. Then compare the personality’s you relate to, with a good faith estimate.  

Next up, making an offer. What makes a good offer? 

Next you will want to review all of the Colorado Real Estate Disclosures with your Broker.

After your offer has been accepted the next major hurdle is the general inspection. The general inspection gives you the ability to thoroughly inspect the property to determine the level of deferred maintenance that is needed. This is fancy way of saying, what needs to be fixed.  More: Denver Real Estate Inspection

After the inspection it is important to review the title insurance commitment. What is the title insurance commitment?

At the same time your lender is busy gathering the support materials needed for the loan application. Once complete the loan package, along with the appraisal is submitted to underwriting for approval.  Once approved, your real estate broker is given the clear to close and the settlement figures are sent to the title company.

Once the title company has the real estate transaction figures they complete the settlement statement. The settlement statement outlines all the fees associated with the purchase of the home. Your real estate broker will review the settlement statement to ensure it is accurate.

Now, its closing time. It is always a good idea to walk the home one last time right before you go to the title company and close on the property. This ensures nothing has happened to the home you are about to be financially responsible for. Your real estate broker will arrange the final walk the hour before closing.

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Denver Real Estate Broker Duties, Home Purchase

What is the job of a real estate broker and what makes a good broker? These are two very good questions if you are considering hiring a real estate professional to help with the purchase of real estate.

There are four categories of skills that need to be managed by a competent real estate broker. These categories include; Guidance, Responsive, Accounting and Loyalty.

Guidance is an important attribute to a smooth and successful real estate transaction. Some of the areas of broker guidance center around the following:

  • Frame the property search around what’s most important to you
  • Recommend lenders for pre-approval that help determine an affordable price, strengthen your offer and lead to a faster closing
  • Search the MLS and network with other brokers daily to find new properties that match your criteria
  • Preview properties, schedule and accompany you to showings
  • Analyze comparable property values and advise you on current market conditions
  • Structure and prepare your offer, review disclosures and laws and deliver the contract
  • Negotiate skillfully on your behalf and promote clear and frequent communication among all parties
  • Review title commitment, recommend home inspectors, facilitate lender approval, insurance coverage, and recommend attorneys or tax professionals as needed
  • Accompany you on final walk-through

Responsiveness is the next area of management and includes:

  • Acting in good faith at all times
  • Adhering to your instructions
  • Returning all calls and emails promptly, keeping you informed
  • Closely tracking dates and deadlines

Accounting for money and information is extremely important.

  • Receive, deliver and monitor all earnest money deposits
  • Receive and deliver all documents in a timely manner
  • Review final settlement statements to ensure accuracy

Loyalty is the final attribute of a competent real estate professional.

  • Place your interests above all others
  • Keep your personal information strictly confidential
  • Ensure that all parties to the transaction are fully informed about any material facts that may affect the transaction

Your real estate broker has a fiduciary responsibility to you at all times and should service your specific real estate needs with good faith and professionalism at all times.

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Denver Real Estate Inspection, What Should I Have Done?

Denver Real Estate Inspection, what should I have done?

This is another question we get from every one of the clients we help. The short answer is, you should inspect for everything that is a concern to you. Now that is a pretty vague answer so I’ll expand.

There are plenty of inspections that can be conducted for a home you are working to purchase. Here is a list of some of the inspections offered in Colorado. This is not a complete list, it’s simply a list of the most common.

  • General Home Inspection
  • Sewer Line
  • Radon
  • Structural
  • Termite
  • Asbesto
  • Methamphetamine
  • Mold
  • Waste Pump
  • Soil Condition
  • Lead Based Paint

We typically recommend that a buyer, at the bare minimum, conduct a general inspection, sewer line inspection and radon inspection.

The general inspection is conducted by are third party selected by the buyer. Most real estate brokers have a list of referrals for inspectors so don’t worry if you don’t have an inspector in mind.

The general inspection typically last between 3 and 5 hours, depending on the size and age of the home. During the general inspection everything that can be visually accessed is inspected. The inspector will then generate a detailed report explaining the items inspection and the repairs needed.

This report gives you the actual condition of the home so that you can determine if the home is worth buying. 

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What Makes a Good Offer When Purchasing Real Estate?

What Makes a Good Offer When Purchasing Real Estate?

This is a question we get asked by each and every client with work with. A good offer is one that gets accepted. That is the simplest explanation, however that can be a tricky undertaking.

It may be perceived, especially on the buy side, that a good offer is an offer at the lowest price. This is not the case as the market determines the price. Real estate typically trades hands at a price that other buyers paid for similar improvements (real estate). Now there are situations called distressed sales where prices fall outside this economic fact, however that will not be discussed here.

To make a good offer your real estate broker should first determine market price for the property you are interested in (subject property). This in not always, and often isn’t the list price of the home. Your broker finds the market price by gathering sales of comparable properties as close to the subject property as possible. Then through the art of adjustment, market value is determined.

Next your real estate broker will want to consider how long the subject property has been on the market. This is a good indication as to the willingness of the seller to negotiate on the price. The general rule is that the longer the property has been on the market the more negotiable the seller is likely to be.

Next it is a good idea for your broker to check public records to see is the seller has a recorded mortgage and how much is still owed on the home.  This is another clue as to the willingness of the seller to negotiate. If the seller has the home listed at the amount they owe, the likelihood of them negotiating is lower.

The last thing to consider when determining what makes a good offer is the location of the property. You have heard the adage  - Location, Location, Location. This is a fundamental truth in real estate; the best location commands the highest price. Therefore the best offer may be significantly altered by the location of the subject property. 

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Standard Colorado Real Estate Disclosures, What Are They?

Most Colorado real estate transactions have a standard set up disclosures that are provided by the seller and disclose important facts about the home being sold. Below you will find a list of the most common disclosures. This is not an all-inclusive list, as some real estate firms require other disclosures.

Sellers Property Disclosure – This is an important disclosure from the seller as to the condition of the home and systems within. This form has 13 sections that range from the structural condition to environmental condition. This form should be analyzed thoroughly as it will give you clues on where to pay special attention with the inspections.

Lead Based Paint Disclosure – This disclosure will only be present if the home was built prior to January 1st, 1978. This form discloses any knowledge the seller has about the presence of lead passed paint in the home.

Square Footage Disclosure – This is a disclosure that is made to the Buyer and Seller with regard to the square footage being represented for marketing purposes. The disclosure requires the listing broker to disclose where the square footage measurement comes from.

Closing Instructions – This form identifies who will be conduction the closing and the fees associated with the closing services. The form also includes instructions for the closing company and how conduct the closing.

Source of Water Disclosure – This form discloses the water provider for the property with contact information.

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