We have posted the entire series of videos that we made highlighting some of the most important things to know about Denver Real Estate.
Follow the link below to watch the youtube playlist.
5280 Magazine – “Fortune Teller’s Guide to Denver Real Estate”
I was honored to be chosen to be part of 5280s “Fortune Teller’s Guide to Denver Real Estate”. Taylor and I sat down to go thru the issue and give you our predictions for Denver’s market. We will be posting a series of videos in the upcoming days so make sure you come back to see them all.
Investment Strategies
I love sharing with my clients the different ways to make their real estate purchases smart investments. I want to share with you my six favorite ways to invest in the market.
The Classic Move Up
Start small and every few years sell your current home and upgrade into something bigger. Great for every phase of your life – condo, townhouse, single family to a mansion. As your life grows, your home grows with you!
Roommate Rental
Live with roommates who pay the mortgage. This is great for people who like communal living. Room size, privacy, and two living rooms are important. This is a great way to get started as a young person before you have permanent roommates aka a husband/wife and children!
AirBnB Rental
Find a place that has a separate area which can be rented short-term. Great for people who travel a lot and live in highly desirable areas. It is smart to avoid HOAs and in Denver, it must be the primary residence to legally rent short term.
Handyman Renovations
Find a place that needs improvement. This is great for people who are handy and have excess time and cash. Best if you can find these deals off the market! If you do it yourself, you must have cash for the materials. A renovation loan can also be an option if you plan to hire a general contractor. If you are doing a quick flip, remember that if you live in the home less than two years, plan to pay taxes equal about 30%.
Denver & Mountain Balance
Purchase a second home in the mountains and AirBnB your Denver place on the weekends or vice versa. Great for people who love to ski and hike but also have obligations in the city. Live the ideal Colorado life and make a great income while doing it!
Real Estate Retirement
Purchase a new primary residence every two years, converting your old primary into a rental, and never sell. Great for people who want to retire and not work anymore. If you focus on cash on cash return when you make the initial purchase, you should be able to cash flow each investment for monthly residual rental income. Within 10 years you could be making about $5,000 per month. After thirty years it is pure profit and ideally, the values of the homes have tripled.
Happy Earth Day
For every closing, I donate a $150 to The Park People to plant one tree in Denver. On Saturday, April 27th they are distributing trees those trees and can always use volunteers. It is a wonderful organization that is helping to make Denver more beautiful. To find out more information see the link below.
To learn more about The Park People and sign up to volunteer.
Also, on SEPT 5th they are celebrating their 50th anniversary. I’ve been helping plan the celebration at Denver’s City Park Pavilion and it is sure to be a fantastic evening. SAVE THE DATE and attend!
LUNCH & LEARN
Thank you to everyone who came and made the LUNCH & LEARN such a success. If your company would like to host a similar event PLEASE REACH OUT TO ME. It is a great presentation to learn about the Denver market, first-time real estate investments and home ownership. I look forward to scheduling an event with you soon.
*MORE dETAILED information about what LUNCH and LEARN will teach you.
2018 Real Estate Market Update
In 2018 we saw the same pattern of the past with a very hot spring market that cooled down when inventory came on in June. September was an unusually slow month due to the midterm elections. The blue columns behind show the percentage of ask price. At the first circle where demand and supply are very tight, you can see that sellers were getting over their asking price. As inventory increased, many listings were going under asking in the Fall.
We definitely saw prices go up in the first half of the year as the Spring bidding wars escalated prices. The highest prices were in April, which would have been clients shopping for homes in March when you see the under contracts peak in the first graph. Although prices dropped after June, they didn’t dip under $415K where we started the year in 2018.
In 2018, listing went under contract faster than average in the beginning of the year, but at the end of 2018 homes actually stayed on the market longer than average between 2013-2017. You can see that in March, April, and May homes were only on the market for about five days. That means they get listed on Thursday, have an open house on Saturday, and are under contract by Monday. This is a very typical pattern for Denver during the Spring market. 
Thornton Townhouse
4761 E 98th Pl, Thornton, CO 80229
This immaculate townhome was built in 2016 with numerous upgrades. Upon entering the main level, you are welcomed with natural light and a very spacious entertainment area. The kitchen features granite countertops with maple wood cabinetry. It has an open concept layout that creates a fluid transition from the kitchen into the living and dining spaces. The townhome has a comfortable front patio with unobstructed views and a private back-patio space that leads into a joined grassy open area. There are two bedrooms, a master and second bedroom. Both rooms are located on the top level and have vaulted ceilings and their own private bathroom. The washer and dryer are conveniently located on the top floor. The home also has a tandem two car garage with a storage closet. The neighborhood is conveniently located near the RTD light rail station. The Cornerstone Clubhouse is large and can be reserved for special occasions plus it has an outdoor pool, fitness center, and community playground.
Happy Clients in Arvada
7283 Eaton Cir, Westminster, CO 80003
Kassidy Benson, Buyer Representative
Learn more about this listing or read the client review on Zillow.
Back Story: Ashley and Ezra were out with their dog when they saw my listing sign for a property in Arvada and called me on a Saturday. I met with them that evening to show them my listing and a few others nearby. They got really serious right around Christmas time and we found their house on January 1st. We were able to get it $25K under asking price and $7K of concessions! Their dog Ella was a major motivating factor and we were all devastated by her unexpected death while they were under contract. 💔 They stayed strong and we close last Friday. This week they moved into their house during a crazy snow storm. They plan to do a kitchen overhaul, can’t wait to see final result!
Want to relive their home buying experience? Go to @kassidybenson on Instagram and check the stories under “Ash&Ezra Buy”
Living Room Real Estate Featured in Denverite
One thing that sets Living Room Denver apart of other real estate firms is our knowledge about Accessory Dwelling Units (ADU) — also known as granny flats, carriage houses or casitas. LivingRoomDenver.com is the only website that identifies ADU zoned properties. Most real estate agents don’t even know what an ADU is, let alone the specific zoning codes and lot size. It was an honor to get recognized by Denverite for this contribution. This is an exciting time for ADU enthusiasts as the city of Denver pushes forward on a plan to make ADUs allowed throughout the city with the new Blueprint Denver planning tool which will be reviewed by city council on April 22nd. Being on top of policy, understanding the zoning code, and being a leader in developing better ways for our clients to find properties are a few ways we stand out!
Cancel your Private Mortgage Insurance
If you purchased your home with less than 20% down, you may be paying PMI. PMI is usually required by lenders because with less than 20% down you are considered a risky buyer more likely to default. In Denver, prices have gone up significantly the last two years. In May 2016 the average sales price was $451,429 and in May of this 2018 that jumped $89,195 to $540,624. A 20% down payment would have been $90,285 in 2016 and $108,124 in 2018. That is a lot of money!!
Many millennials were smart, they jumped into the market with 5-10% down conventional loans.
Once your loan to home value reaches 80%, you can contact your mortgage company to cancel your PMI. They will not identify this, so you will have it initiate the change. Each mortgage company is different, but there should be a place on their website to request to cancel your PMI. Once you initiate the process, they will require an appraisal ($700) or a broker price opinion ($100) to verify your home’s value before they drop the PMI.
Unsure of your homes value? Please contact me for a free broker’s price opinion before you pay for an appraisal to make sure you are eligible to drop your PMI.
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