A Truly Romantic Cherry Creek Home

Happy Valentine’s Day from TeamCox Realtors! A Cherry Creek home was recently named among the country’s most romantic homes. The home, located at 478 Saint Paul Street, was chosen as the ninth most romantic home for sale in the country  by TopTenRealEstate Deals.com. 

It is the perfect gift for you and your sweetheart if you happen to have $5.7 million to spend on a love nest. It boasts 7,066 square  feet, four bedrooms, five baths, an indoor pool, a 1,200-bottle wine celler, a private master deck, a spa living room, and much more!

To see other romamtic Denver homes, please contact TeamCox Realtors at 303-400-6060.

View the Cherry Creek Home’s MLS Listing

TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.

Denver Home Prices Post Year-Over-Year Increase

There is good news for the Denver real estate market. The closely-watched S&P/Case-Shiller Home Prices Index was released last week, and for the first time since November 2006, home prices in the Denver area posted a year-over-year increase.

Denver was only one out of four cities that had a year-over-year increase in home prices, rising .5 percent between November 2008 and November 2009. This was the first increase after 36 straight months of declines.

This encouraging news, combined with the unprecedented homebuyer tax credits being offered by the government right now, makes right now an ideal time to purchase a Denver home.

For more information on Denver home prices, please contact TeamCox Realtors at 303-400-6060.

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TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.

New Denver Homes

What’s happening with Denver builders right now?

It’s amazing to think that the Denver homebuilding industry, which was roaring only five years ago, has been so quiet recently. What is going on with the industry? Two recent reports by the Denver Post, along with our own observations, reveal a few new trends in the homebuilding arena.

New homebuyers are attracted to features, not size, right now. Smaller, simpler homes are selling, partly because of the new Homebuyer Tax Credit, which is attracting many first-time buyers. The recession has also taught people to analyze their finances and buy what they can afford versus the maximum approval price..

Like all current Denver sellers, builders are facing fierce competition from foreclosures, which has forced them to find creative ways to remain competitive. They are finding success with building smaller, less expensive homes. Shea Homes recently opened its first community at Reunion in four years, targeted at younger buyers, which features smaller and simpler designs

Regardless if you are a first-time homebuyer, or a move-up homebuyer, now is the time to jump into the Denver real estate market. For information on purchasing a Denver home, please contact TeamCox Realtors at 303-400-6060. We have extensive knowledge of all of the local Denver homebuilders, and we are here to share our insight with you.

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TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.

What Types of Denver Homes Are Selling Right Now?

What Types of Denver Homes Are Selling Right Now?

There are two types of Denver area homes that are selling, despite the rather slow current market conditions – the “gotta have it” home and the “make me a deal” home. The “gotta have it” home is well-positioned in the market, exuding an emotional appeal from the moment the real estate agent pulls up to its curb.  Your mother was right – first impressions mean everything, and they are especially important in real estate. Keep in mind, that prior to entering the home, potential buyers are evaluating the yard, the paint, the trim, the cleanliness of the outside entryway, and even if the doorbell works or not.  The house is being closely compared with the last home the buyers saw, and it will be quickly be compared with the next one home the list. 

The “make me a deal” home is also selling, but this property must be aggressively priced, since the buyer for this home is looking almost exclusively for the best possible price, or the best square footage “deal” in the target neighborhood There is not nearly as much emotion involved with this transaction as with the “gotta have it home.” Obviously, the best possible combination for a quick sale is if the best priced home also happens to be great looking and in good condition.

As an Accredited Staging Professional, TeamCox Realtors – your Denver real estate specialists – can give you guidance in getting your home ready for the market, along with many other complimentary services that we can offer.

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TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.

Calling All First-Time Denver Homebuyers!

• The required down payment for FHA loans will also increase from 3% to 3.5%.    

   

• There is a new $7500 homebuyer tax credit that is available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years, which makes it in effect, an interest-free loan.

Please click here to read more about the changes in store for homebuyers. For more information on how the new law will affect you, please contact us at 303-400-6060. TeamCox , Denver real estate specialists, would love to help you find your dream home.

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Denver Home Prices Continue to Improve

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Staging is Essential in a Competitive Denver Real Estate Market

Every seller should consider staging to get highest possible return on their dollar

In a competitive Denver real estate market, eager sellers need to pull out all of the stops for their home to stand out from the sea of others. At TeamCox Realtors, we highly recommend staging a home, prior to putting it on the market. Staging is not about spending your money, but preserving your home’s equity. Contrary to some opinions, staging is not a fad – it is what every wise homeowner should do to get the highest possible return on their dollar, in the fastest amount of time.

It is important to remember that as your Realtor, I am selling your home, not your stuff. Since a potential buyer is not only looking at a home’s square footage, but also determining how his furnishings will fit into it, your home must be neutral so the buyer can see all of its possibilities.

 

The following are a few essential staging tips that we provide all of our sellers with:

 

• The home should be Q-tip clean
• Remember, less is more
• Keep the room balanced
• Let there be light – as much light as possible!
• Reduce the amount of furniture
• Take anything out that you have not used in eight weeks
• Add greenery to every room
• All vertical and horizontal lines should be neutral
• Add color for accent and accessories
• Paint will yield the highest return on your investment
• Pictures should be hung at the average person’s eye level
• Stagger picture height only when it follows an architectural line such as an staircase.

   

Having undergone extensive training to become Accredited Staging Professionals (ASP), TeamCox Realtors can help your home shine. We also  recommend the services of Trish Pachak, Accredited Senior Staging Professional Designer and Owner of WeStageColorado, who recently staged one of our Piney Creek listings. Not suprising to either Trish or TeamCox, the first couple that toured the home bought it for 98.5% of its list price. Needless to say, the home seller is absolutely ecstatic with their decision to invest in staging, since it obviously resulted in a high return and a shorter marketing time.

For more information on getting your Denver home ready to put on the market, please contact TeamCox Realtors.

Landscaping Helps Homes Stand Out in Tight Denver Real Estate Market

Landscaping projects help but sellers shouldn't go overboard with costly outdoor projects

It’s amazing what a few flowers will do for a home’s appeal! In a tight Denver real estate market, every extra thing that a seller can do to help his home stand out from the glut of unsold homes will help. At TeamCox Realtors, we advise our clients that their house must be in top-notch condition for a quick sale. We are currently listing two beautiful homes that are in pristine showing condition. Their overall appeal to buyers is helping them stand out in a competitive market. 

 

During the spring and summer months, a home’s landscaping is especially important in a tight real estate market. A very informative article, "Outdoor Attraction" by Christian Toto, appeared in The Denver Post over the weekend. It examines the impact of a home’s landscaping on its salability. The article reveals that sellers are increasing their landscaping budgets as the housing market tightens. It brings up a very important point, though. While landscaping projects can help sell a home, it is important not to go overboard on outdoor projects, or you won’t see a solid return on your investment. This is a great point since kitchen and bathroom improvements often yield a higher return than landscaping.

 

While the article mentions installing costly concrete stamped patios or outdoor entertaining areas (keep in mind that a concrete stampled patio can cost up to $10,000), there are more simple things that a homeowner can do to improve the overall curb appeal to his or her home. For starters, try planting some colorful flowerbeds (tulips are beautiful in the spring!) or some new sod to patch up those problem areas. Trees are also a good investment since they are not only attractive, but provide shaded areas that might even eventually improve a home’s energy efficiency.

 

For more information on getting your home ready to sell in a tight Denver housing market, please contact TeamCox Realtors at 303-400-6060. We will help your home stand out from the crowd!

 

 

Denver, Colorado is a Buyer’s Paradise!

Ten Great Reasons to Buy a Denver Home in 2008

1. Selection, Selection, Selection. There are approximately 23,000 homes for sale in the greater Denver real estate market. There are homes in every buyer’s price range with plenty of inventory including single family homes, condos, townhomes, urban, suburban, etc.
2. Fewer Multiple Offers.  If you have ever been in a market where your offer was one of several, giving the seller  the right to pick and choose, this simply is not the case in the current Denver market. Although good homes will still sell quickly if priced correctly, it is very unlikely that your offer will have any competition.
3. Make An Offer. In a seller’s market, your offer had to be full asking price or more  In today’s Denver housing market, the ratio averages 96% of the listed price to the sales price. If the home has been on the market for an extended period of time, the ratio will tilt even further in the favor of the buyer. Most sellers will not be insulted by any reasonable offer.
4. Taking Your Time Is Okay.  When the market is hot, a buyer must be ready make a snap decision. When you found a home that might work, you had to write a full price offer on the spot. However, in today’s market you can more slowly while scrutinizing the available homes and taking the time to fully consider each home’s condition and location. 
5. A Thorough Evaluation. In order make a competitive offer in a hot market, it is not uncommon for a buyer to waive their right to a house inspection, a sewer inspection, an appraisal or even noted house repairs. The seller is king.  This market has a certain degree of calmness and a chance for the buyer to perform complete and competent due diligence.
6. Builder’s Inventory: While the inventory of new homes is certainly not what it has been, if there is a new home in inventory that meets your needs, the builder will do whatever it takes to accommodate a buyer’s wishes including upgrades, changes to the finishes, or even a basement finish.  If it is in inventory, the builder needs to move it
7. You Want What? In a hot market, the home might be sold “as is”.  This market has most sellers willing to fix any reasonably repairable requests. 
8. Little Competition from Investors. While we do see some presence of   investors returning to the Denver market, they are not yet here in large numbers.  Today’s buyer is usually a relocating family or a family with changing needs.
9. Location, Location, Location.  Moving closer in. As Denver has grown and urban sprawl developed, many buyers had no choice but to follow the sprawl and move further out.  We are now working with a few of these buyers who wish to be closer to work, the theatre, restaurants or the new Denver light rail system
10. Real Money Is Available.  The “funny money" that many lenders had gotten into the habit of offering is no longer around. The No Doc, Low Doc, Gee-You-Are-Breathing-Have-I-Got-a-Deal-For-You money is gone.  For buyers with good credit who plan to repay their debt will have no problem getting financed.  Heck, a lot of that easy stuff was for the convenience of the lender.  No Doc meant just that—no work on the lender’s part.  What’s wrong with a 30-year fixed or an FHA loan?  It’s probably in your best interest!

For straightforward answers to all of your Denver real estate questions, please give a TeamCox member a call today at 303-400-6060!

Denver’s Smaller Lot is Not a New Trend!

Making the most of a small Denver yard

A recent article in the Denver Post prompted me to think about the perceived trend of smaller lots in Denver neighborhoods. The small Denver yard is nothing new since lots in central Denver neighborhoods have always tended to be "shoe-box size.”

While many new homebuyers feel that they are facing a dilemma of shrinking lot size, this is certainly nothing new to our area. It is true that in recent years Denver homes have been getting larger and most lot sizes have been getting smaller. It is reported that residential lots shrank approximately 6.5% between 1990 and 2006.

As metro Denver land values rise, local builders are forced to divide land into marginally smaller lots as they concentrate on their bottom lines. While this may seem like a disadvantage to some Denver homebuyers, a small lot offers some distinct advantages including less water consumption that results in lower water bills and more water conservation. 

If your goal is a private back yard retreat or a romantic spot for dining al fresco, here are some tips for creative landscape design:

No straight lines. Your plan should steer away from straight lines and right angles.  To please the eye, use curved paths and beds that lead the eye around the yard. This produces a natural feel that creates the perception of a larger space.  A straight, narrow walkway winding through a small yard will only tend to accentuate the yard’s smallness.  On the other hand, curving stepping stones meandering through the same space will fool the eye and the yard appear larger than it actually is. 

Eye trickery. Size and color are fool the eye at times. Dark colored vines or a dark colored wall will make the back fence appear further away than if the wall or fence is painted white or some other light color. The eye’s perspective changes. This same effect can be achieved by placing large, lighter items at the front of the yard and smaller, darker items in the rear. 

Trees are essential.  We often advise our metro Denver new homebuyers that trees will yield the biggest return on their landscape investment. With proper care and watering, trees planted during the first year of homeownership will yield a substantial return after five years.  This is especially true when the home is in on the market competing with other homes in the same age category without trees. A well-planned yard with trees will always give the home seller a huge marketing edge. 

Trees in the west are almost sacred but they can be found. Which trees are right for the smaller Denver yard?  Choose trees that canopy over your smaller yard and that have narrow trunks.  Good examples of these would be purple leaf plums, Japanese maple, fichus and Russian olive.  These well-selected trees not only will give the beauty and privacy desired with a small yard but the shade will be a relief during Denver’s warm summer months.

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