Tag Archives: denver real estate

Enhancing Your Outdoor Space with Gravel

Your outdoor space, if properly showcased, can act as additional living space and add to your home’s value upon resale.   Here are some very inviting spaces that other homeowners have created with the use of gravel in their landscape.  Before using gravel in large areas of your landscape, you should always check your city code and any HOA restrictions that might apply to the use of gravel.  Enjoy!

 

Feel free to contact me if you have any questions regarding adding value to your home, or if you are considering buying or selling a home!

 

You are Invited!

The beautiful house, with incredible views, is having an open house Sunday, May 22 from 11:00 am to 2:00 pm!  You are invited to come and take a look in person (slide show below)!  I hope to see you there!

2662 W 118th Ave, Westminster CO  80234

house straight on, hi def

2662 W 118th Ave, Westminster CO 80234         Click Here for more Info and Photos!

Curb Appeal: Is it worth the investment?

Here’s an article specifically talking about the value of curb appeal, from a dollars and cents perspective.  It even breaks it down to what trees and fencing are worth. Most landscaping (as with any home project) should be done for your own enjoyment, but it does add to the value of your home, either in the form of a faster sale or in the form of a higher sales price when you decide to sell.   Some experts believe that mature landscaping can add up to 25% to the value of your home.  If you have been thinking of sprucing up your exterior- have a look at this link!  It may give you some good ideas of where to invest your money.
http://www.houselogic.com/home-advice/landscaping-gardening/landscaping-home-value/

 

 

 

Automate your Denver Home Search!

Most people are unaware that sellers determine how their homes are advertised when they are listed for sale.  Sellers determine whether the home is to be listed only in their Broker’s MLS or whether it is to be syndicated, or shared with multiple publicly accessible websites.   Therefore, because not all listings in the MLS are shared with the publicly accessible sites, your search results on these sites may not include all homes currently on the market.

If you would like to receive information on all listings in the Denver Metro/Boulder and Northern Colorado Broker’s MLS, I can set up an automated search for you, based on your specific criteria.  The search runs daily and you will be notified via email when a property comes on the market that matches your criteria.  You will also be notified of price drops and changes in status, such as when a property goes under contract or comes back on the market if it has previously been under contract.

You will be able to access all available photos, tours, and detailed information on a free personal website I will set up for you.  On your free personal website, you will also be able to rate each property according to your interest level.  You will continue to have access to the properties in your search results history for as long as the properties remain on the market.  This website can also be used by homeowners who want to keep track of the sales activity in their own neighborhoods.

If you are thinking of buying a home, the automated notification system, definitely gives you an edge over other buyers looking for properties. It allows you to see each new listing as soon as it becomes available, without having to make the time to do the search yourself.  It’s faster, and much more convenient.  Having the free personal website helps you organize your search results, and makes it easier to go back and have another look at the properties that you liked, without having to run another manual internet search and sift through pages and pages of properties that you have already ruled out.

If you would like to receive the automated notifications of new listings, along with your free search results website, please fill out and submit the contact form below.  Or, if you prefer to use the manual search method on one of the public sites, please don’t hesitate to contact me with any questions about any of the properties that you find in your search!

 

Denver’s Top 5 “Biggest Bang for the Buck” Home Improvement Projects!

Many sellers ask me what they can do to improve the value of their homes at resale.  Every year, Remodeling Magazine and Realtor Magazine cooperate to research the costs and value-added of numerous home improvement projects in a wide range of costs.  The research is conducted at the national, regional, and even the city/local level.  This year, the information was compiled in the Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com).

What I am going to summarize here is the information specifically for the Denver metro area.  The average cost and the average amount recouped for each project can vary greatly depending on the area of the country that you are in.   If you live outside the Denver area, you should go to www.costvsvalue.com to search for the information for your specific area of interest.

Although, for copyright reasons, I cannot list all of the projects here in this blog post, I can say that my overall observation of all the projects is that, with a few exceptions, most projects with “upscale” finishes do not recoup as much of their cost as projects done with mid-range finishes.  So, my advice for sellers would be that you should view any luxury finishes as a “value-added” or “personal enjoyment” factor for yourself while you are living in the home.  You most likely will not get back what you spent when it comes time to sell.  While you should recoup a higher actual dollar amount for a high-end project versus a mid-range project, it may not be as high a return when stated as a percentage of the cost of the project.

The Five Projects in Denver that have the highest amount of cost recouped are:

Project Cost Resale Value Percentage of Cost Recouped
Upscale Siding replacement (fiber-cement) $13,250 $13,560 102.3%
Mid-range Attic Bedroom Remodel $48,664 $46,253 95.0%
Mid-range 2-story Addition $153,017 $136,713 89.3%
Upscale Garage Door Replacement $2,793 $2,479 88.8%
Upscale Siding Replacement (foam-backed vinyl) $14,028 $12,358 88.1%

 

 

My thoughts, looking at these top 5 projects for Denver, are that the type of work that recoups the most money can be categorized as upscale projects that improve curb appeal and/or midrange projects that add additional living space. Something to keep in mind, is that the report is based on AVERAGE costs and values for each project.  Your costs and values may be different depending on how well you shop and the neighborhood you are in.  If you wish to recoup as much as possible for your improvements, my advice would be:

  1. do the improvements that are valued by the buyers in your area,
  2. only improve to the level of expectation of buyers for your neighborhood (don’t over-improve),
  3. shop carefully to reduce the cost of the improvements made.

SOURCES:   1. ©2014 Hanley Wood, LLC.  Complete data from the Remodeling 2014 Cost Vs. Value Report can be downloaded free at www.costvsvalue.com. 2. National Association of Realtors (http://www.realtor.org/news-releases/2014/01/realtors-rate-exterior-replacement-projects-among-most-valuable-home-improvements. 3.  Photo copyrighted by Microsoft.

Additional information that may be of interest can be found at these sites:

http://www.houselogic.com/photos/home-improvement/best-home-improvement/slide/steel-entry-door/

http://www.houselogic.com/home-topics/features-of-an-ideal-kitchen

If you would like a free consultation about the current value of your home, or suggestions for improving the marketability and resale value of your home, please feel free to contact Joan, by either calling 720-201-3049 or submitting the form below.

3 Offers in 2 days!

Status: Under Contract, Taking Backups!
PRICE: $244,900
MLS: #2849347, #737063

3 BEDROOM, 3 BATHROOMS, 2-CAR OVERSIZED GARAGE, 2132 SFT

Beautiful tri-level home with a great floor plan! Large covered deck overlooking the fenced backyard with mature landscape, dog kennel and sprinkler system for plenty of green grass! Stay comfortable with AC and Evaporative cooling in the warm summer days to come! Neutral colors inside with newly refinished hardwood floors, new kitchen counters, fresh paint throughout, and new carpet on lower level. Kitchen appliances included! Low maintenance metal siding, newer water heater and windows. Clean and Move-in ready! Short Walk to Schools, Croke Reservoir, Northwest Open Space, RTD, and nearby Shopping! Just a quick hop to I-25 for a fast commute to Downtown Denver! Quick Possession possible!

Click Below for Photo Slide Show:

 

 
Please call (720-201-3049) or email with any questions about this home or about the current real estate market!

Home Buying After Foreclosure or Bankruptcy- How Long Until I Am Eligible?

Only a few short years ago, the Denver Market was flooded with short sales and foreclosure properties for sale. The bankruptcy rate in Colorado was still fairly high then. Many people lost their homes during that time and have been renting since then. With the current tight rental market and rising rental rates, they may now be wondering, “How long until I can buy again”?

The answer is “it depends…”. Bankruptcy, Foreclosure, Short Sales and Deeds-in-Lieu are all called, “derogatory credit events” in the lending world. The waiting period before you are eligible for a new home loan will vary depending on: which type of “event” you had, the circumstances that lead to it, and the type of loan you want to get for your next house (VA, FHA or Conventional).

The lending world breaks down these events types even further: Foreclosure, Deed-in-Lieu, Short Sale, Multiple Bankruptcies, Chapter 7 Bankruptcies, and Chapter 13 Bankruptcies.

VA seems to be the most forgiving of these derogatory credit events. With VA financing, the buyer is eligible for a new loan only one year after a Chapter 13 bankruptcy. The wait period for the other types of events is only two years.

For FHA, the wait period for Chapter 13 bankruptcies is also after one year of on-time payments and approval from the bankruptcy court. It is 2 years for a person having a Chapter 7 or multiple bankruptcies, and 3 years for a Foreclosure, Deed-in-Lieu, or Short Sale.

Conventional Loans tend to be less forgiving. Wait periods range from 2-7 years depending on the type of event. After the wait period is up, the buyer may also be required to come with a higher down payment amount for their new loan.

The following chart, provided by the Wynn Team with Citywide Loans, provides a “short and sweet” visual summary of the waiting periods required for each circumstance and loan type.  Here is the link to the chart:

Derog Waitng Period for mortgages

Buyers should keep in mind that even if the waiting period has elapsed, lenders still make loan approval decisions based on credit scores and debt-to-income ratios. The waiting period is an added requirement.

If you are ready to buy or sell a home, please contact me!  I would love to help you make that move!  Or, if you have any questions, also please fill out the form below.

 

New Listing- 921 Stage Coach Ave in Lochbuie

3 Bedroom, 2 1/2 Bathroom

1694 Sqft, Two-Story house built in 2010!

Light, Bright and Beautiful 2-story home built in 2010!  Backs to PANORAMIC mountain views!  No neighbors behind!  Large backyard enclosed by 6-ft privacy fence!  9-ft ceilings with recessed lighting, built-in surround sound! Ideal location– in quiet cul-de-sac, low traffic street! Laminate flooring throughout the main level. Open floor plan! Master bedroom with 5-pc bath & walk-in closet!  Appliances included– all stainless steel in kitchen! Tall kitchen cabinets!  Guest bathroom on main level!  Energy Efficient Home!  Clean, like new, & move in ready!  Only 35 minutes to downtown Denver! Quick closing possible– Normal sale!  Move in by Christmas!

CLICK ON PHOTO BELOW TO SEE SLIDESHOW OF ADDITIONAL PHOTOS!

Front view, 921 Stagecoach Ave

For more information or to request a showing- Please contact Joan @ 720-201-3049 or submit the request form below.

Brand New Homes for Low-Income Buyers!

I have recently taken two listings with the Adams County Housing Authority!

The Neighborhood Stabilization Program (NSP) is winding down and now Adams County only has two remaining homes available.  They are set aside for low income homebuyers- meaning the annual household income for the buyers for these properties, cannot exceed the limits listed below (based on household size):

Household Size Maximum Annual Income

1 person- $26,400         2 people-  $30,200          3 people- $33,950

4 people- $37,700         5 people- $40,750           6 people-  $43,750

The properties are two sides of a brand new duplex in Commerce City.  The addresses are:  6694 E 72nd Pl and 6698 E 72nd Place. Each property is a two-story home with 3 bedrooms, 2 1/2 baths, open floor plan with pergo floors throughout the main level, fully fenced yard with sprinklers & storage shed.  The floor plans for each are mirror images of each other and they are done in neutral finishes.  Both homes are Energy Star rated so utility bills will be lower than comparably-sized homes.

They are priced and advertised at their appraised value ($162,000).  However, the seller expects to provide assistance to prospective buyers to help make the homes more affordable.  For example- the NSP Assistance amount could be used to buy down loan principal and/or interest rates to make the payment much lower than it would normally be for a home at the $162,000 price point.  The Assistance amount can also cover the Buyer’s closing costs.

Buyer must be an owner occupant.  Also, the buyer is required to have their own minimum down payment for their loan type through some other non-NSP source (personal savings, down-payment assistance program, etc..) and must have at least $1,000 of their own money into the purchase.  In exchange for the assistance, the buyer would sign a Deed of Trust and Promissory Note for the amount of the assistance.  There are no payments on the Note, no interest accrues on the balance, and the balance is forgiven on a prorated basis at 5% forgiven each year of the first 20 years the buyer occupies the home as their primary residence.

Photos of the properties can be found on this website under the tab for each property address (6694 or 6698 E 72nd Pl).

Adams County Housing Authority has further information about the NSP program on their website at www.AdamsCountyHousing.com .  Interested parties can also look up the properties by their MLS numbers on public home search sites (like  http://www.recolorado.com).  MLS numbers for each property are:  #1226695 and #1226765.

Thank you for your help in getting the word out on these properties!  I am sure some lucky buyers out there are going to love these homes!

Please contact me if you have any questions!

OPEN HOUSE- Sunday 09/01/13!

staged Front Photo

You are invited to an open house this Sunday for 8265 Acoma St (See the page for this property above for property details and photo slide show).

The open house will be Sunday, Sept 1, 2013 from 1:00pm to 4:00pm!  Guess the price at which the property sells, and win a $50 Visa gift card (must attend the open house to enter)!  See you there!