Top Five Denver Neighborhoods for 2018

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Top Five Denver Neighborhoods for 2018

The median home price in Denver surged to $426,640 so it is not surprising buyers Top Five Denver Neighborhoods Mapare flocking to these Top Five Denver Neighborhoods. What’s more, Denver-metro is holding one of the top spots – out of all major U.S. cities – for the fastest home appreciation rates.  These top Five Denver Neighborhoods all are unique however they all offer great city living and are very commutable to DTC, Downtown or even North Metro.

If you have been to an open house lately you see the madness of  home buyers wanting to get there share of the market appreciation.

If you’re a homeowner, this probably makes your day. But if you’re a prospective home buyer, trying to live the American Dream, you might be wondering were you may be able to afford a home and still have convenient access to the City.

Here are the top five Denver neighborhoods.

1) Ruby Hill

Average List Price: $323,000.

Community Features: Running along the South Platte river, Ruby Hill, offers several great parks, bicycle paths and is conveniently located on the west side of I-25, making commuting into the city or mountains a breeze. The neighborhood has several improvement projects recently completed, including a new pavilion and highly anticipated outdoor amphitheater. Movie night in Athmor Park and Lake.

2) Federal Heights

Average List Price: $352,000

Community Features: Located west of I-25 and North of HWY 36 is the Federal Heights neighborhood, which offers great Pearl Mac starter homes and one of Denver’s easiest commutes to Denver and Boulder.  Only 4.3 miles from the Highlands and Downtown along with the city’s most acclaimed restaurants.

3) Clayton/Cole/Whittier

Average List Price: $387,000

Community Features: Located just east of Five points and The hip Rihno area, yet north of City Park. Clayton/Cole/Whittier is a stone’s throw from the more affluent Park Hill area. The neighborhood is a great fit for  families who still enjoy the bright lights of the city, but desire a more family-friendly environment. With the Denver Zoo, Denver Museum of Nature & Science and the City of Nairobi Park just minutes away, this location can be a paradise for runners or families.

4) Globeville/River North Art District

Average List Price: $280,000

Community Features: Globeville, located south of I-70 and east of I-25, used to be known for its abandoned warehouses. But one of Denver’s oldest and more industrial neighborhoods is getting massive new construction projects. Site of the New Blue Moon Brewery. Developers are adding more residential buildings, restaurants and even plan to open a 77-acre commercial park.  Keep an eye on this area as it is very early in the re-deveploment stages which will lead to early buyers making large appreciation gains.

5) Chaffee Park

Average List Price:  $373,000

Community Features: The Chaffee Park  Located North of I-25 and east of Federal Ave. The Chaffee area is widely known as Northwest Denver sits only a few minutes from the Lower Highlands and consequently some of the best bars and restaurants in the city. While homes may be older, they also boast larger than average backyards and patios.

If you are a home buyer or have a friend or Family member that is looking for a Local Expert please call me at 720-275-0974.

Denver Insurance Connection has fantastic Insurance Rates.  Go to DenverInsuranceConnection.com to get a quote today!

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Getting a Good Deal when buying your next Home

House Hunting Checklist Download a free pdf copy of my House Hunting Check list Click hereAlso check out what is happening with current market home sales by reading Chris Gibsons Market Watch blog here.

Every home buyer I have worked with over the past 16 years wants to get a good deal on there next home.   Getting a good deal when buying your next home is not always the lowest price for the biggest house.  I challenge you to look beyond what is obvious.  Some of the best deals I have been able to get buyers have been a situation where the seller has over improved the home and are unable to get the money they have put into the property out of it.  Any buyer that is getting a loan will have to pay close to the appraised value for the home so if comparable sales will not justify a higher price then the seller is forced to sell at or close to the appraised value.Getting a good deal

One of the best deals I have seen a buyer get was a Ranch Home in South East Aurora.  The Seller was asking $495,000 for the home.  We offered $490,000 and asked for the seller to leave everything they had purchased to finish the basement.  Yes the seller was a meticulous man that had spent months finishing the basement and had purchased everything to do so. The toilets, vanity’s, carpeting, tile, drywall, electrical components, lighting, base boards and much much more.  The items we asked for was thousands of dollars worth of materials.  So at the time the home was really worth $495,000 but the market was a bit slow and the seller had been relocated for work. For him the thought of having to move all of this material was added stress.  The Seller accepted our offer. After the sale the buyer finished the basement with the materials left by the seller and the home is now worth over $600,000 .  For my Clients Dave and Becky they got a “good deal”!

Other things to consider when trying to get decide and getting a good deal when buying;  The builder, the overall area, trends of the area, quality of finishes, quality of construction, quality of the windows, or even the quality of the flooring. How well has the seller taken care of the home?  What things  can you do to add additional value to the home such as finishing a basement or a complete overhaul of the landscaping, a complete kitchen remodel or enclosing a patio or adding a garage.

One of the best Real Estate investors I have ever known is Larry Bruton.  His strategy to getting a good deal when buying homes was to find properties that he could add a separate rental space to. In some urban areas you can find a detached garage with an area above to add in a living space for short term rental.

I hope this helps you with some food for thought when looking for your next home.  As always working with a good experienced agents like us here at the Home Team of Denver can help you find these “good deal” homes.

For a free copy of my House Hunting Check List click here.

Make sure you are getting the best home insurance rates. Call Denver Insurance Connection today! Click here to get a quote.

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5 First Time Home Buyer Mistakes in Denver

Download a free pdf copy of my 5 First time Home buyer Mistakes to Avoid.  Most first time home buyers need a home under $350,000. Click here to see the current home for sale.  Also See the Blog post form Chris Gibson about New Construction Homes For Sale.

For a First Time Home Buyer this is one of the biggest investments you will make in your life.  For first time home buyer this can be overwhelming trying to figure out where to begin.  How much can I afford? Where do I want to live? How do I get a Loan?  These are just a few of the questions a buyer has today.  With the speed of our current Denver market here is a list of the 5 First Time Home Buyer Mistakes we see buyers make today.

First Time Home Buyer

  1. Not Getting Pre-Approved Early.  For any First Time Home Buyer this can be super frustrating for the first time home buyer when they find a home they just love and want to make an offer on.  Only to find out the Seller is NOT looking at any offers that don’t have a lender letter attached with the offer at the time of submission.  Homes along the front range are selling in sometimes hours or days so you need to have a lender pre-approval letter prior to submitting an offer.
  2. Searching for homes on Zillow or other online websites.  I get calls like this all of the time. “Can I see the house at 123 Easy street asap”.  We look up the home to set a showing and see that the home sold three months ago.  How is that you ask?  These sites are designed for lead generation not for home sales.  When you use a Real Estate Professional you will get access to the Real Estate Professional only website called the “MLS” or Multiple Listing Service.  You will be setup on a automated search tied directly to the MLS.  With this access you will see when a new home enters the market place immediately.  You will also see when a home is Under Contract immediately.  This will keep you and I from wasting your time looking at already sold homes.  In the list of the 5 First Time Home Buyer Mistakes to Avoid this could have been number one.
  3. Letting your emotions control your decisions.  Wait What?  Yes!  Today you may have to make 5, 10 or 1 5 First Time Home Buyer Mistakes to Avoid5 offers on a homes before getting the winning bid.  This is super frustrating for you as a buyer and for your agent trust me.  As difficult as this is you need to keep things in perspective.  Not falling in the easy trap of willing to offer significantly over the list price to be the winning offer.  We have had situations where we advise not over paying for the home.  This is based on our professional knowledge of the home your bidding on and the neighborhood past sales and demand.  We will give you a detailed report with all of the resent neighborhood sales activity to guide you. Remember your home is an investment and it is only a good deal if you buy it at the right price, condition and terms
  4. Waiving Contingencies.  This is a new one for the Real Estate industry here in Denver.  With the speed of the market many buyers are having to try different techniques to get their offer approved by the seller.  Here are some things that are common: waiving the Inspection Objection, waiving Appraisal Objection,  as-is condition, waiving Loan Objection, Appraisal gap coverage. These are just a few items a buyer may add to an offer, however they don’t really understand the ramifications of these.  All of these are okay to do as long as the buyer understands what they are giving up to do so.
  5. Not Listening to your Real Estate Agents advise.  Yes seems so basic however we are seeing this more and more. Particularly with the younger home buyers.  We as a society are over exposed to sales from the moment we wake up to the moment we go to bed.  This over exposure leads to not trusting sales professionals that are actually wanting and trying to help you.  Navigating the intricacies of a Real Estate transaction is very difficult and when you get a good agent that has your best interest first (Fiduciary Responsibility) you should listen to them.

 

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How owning a home can protect your retirement

The video above explains a recent story about a lady I encountered who is forced out of a home after 33 years of renting.
This article from keepingcurentmatters how home owners are wealthier than renters.
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a recent Forbesarticle the National Association of Realtors’ (NAR)Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater.

Read more at http://www.keepingcurrentmatters.com/2015/10/26/2016-homeowners-net-worth-will-be-45x-greater-than-a-renter/

I am waiting for your Denver are real estate agent referrals.

You may know that I am a real estate agent in the Denver Area, but you may not know that I pay referral fees to other real estate agents.  I assist with relocation referrals from out of state real estate agents. I accept referral from local Denver real estate agents when they are going on vacation, when they are too busy, or when they just want to help.

You can trust me to put the highest lever of importance on the relationship you have with our client. I value our reputation and our client’s satisfaction above all else. I have accumulated multiple positive reviews with Zillow. You can be confident knowing you have fully vetted me for our client.

My partners and I work throughout the Denver front range region.

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