Denver Real Estate
Hot off the presses! Here is the December 2014 Market Update (data courtesy of Megan Aller at Land Title).
What really jumps out to us at The Gerwin Group?
“There are currently 3,778 active listings for attached and detached units currently for sale in the 7 Metro Denver Counties—this is the least amount of homes for sale on record.”
With inventory so low, and buyer demand so high, it’s a really good time to sell.
Looking for something to do this weekend? Check out these fun events in Denver and close by!
Only 7 days to the Denver Clean Sweep! Shred all of those old files, tax returns, etc, and responsibly recycle outdated electronics! The event is FREE to the public and all voluntary donations go to McAuliffe International School. Help the school fund more bike racks and a new AV system for the auditorium. For more details visit www.DenverCleanSweep.com.
What are you doing on September 13th from 3-7 pm? Do you love good beer and food? If so, join us for an afternoon of food, drink and fun in “Colorado’s Home,” the beautiful Governor’s Residence at the Boettcher Mansion.
Enjoy tastes of the Colorado Brewers Guild member’s masterfully crafted beer, paired with the culinary creations of the chefs of the Colorado Chefs Association, while wandering the rooms and gardens of the Mansion.
The event will have brewers from Odell, Dry Dock, Breckenridge, Pagosa Spings, Ska, Lone Tree, New Belgium, Oskar Blues, Renegade, Denver, Beer Co., Boulder, Epic, Pugs Ryan’s, Elevation, Avery, and more!
The food? They have Certified Master Chef, Ed Janos from Cooks Fresh Market, Troy Gaurd from TAG Burger Bar and Guard and Grace, Ian Kleinman of the Inventing Room, chefs from Euclid Hall, McCoy’s and Tickleberry Desserts.
The proceeds raised from your ticket purchase will benefit the Governor’s Residence Preservation Fund, an inclusive, non-partisan 501(c)3 dedicated to preserving the historic Governor’s Residence at the Boettcher Mansion in perpetuity of the people of Colorado to enjoy. General admission tickets are $100 and give you the chance to enjoy over 20 specialty food and beer pairings, live music, tours of the mansion and grounds, and a commemorative glass. VIP tickets are $250 and include all general admission benefits, along with a goodie bag, early admission to the event (2pm), and a Colorado History cookbook.
For more information or to purchase tickets, visit the Brews and Bites page on the Governor’s Residence Preservation Fund website.
Thanks to recent, powerful hail storms, now might be a good time to review your roof for hail damage and your homeowner’s policy for your coverage!
Hail is our most common form of roof damage, and it’s not unusual for a seller or buyer to learn during a home inspection that the roof has sustained significant enough damage that the roof cannot be “certified” for another 5 years of life expectancy. That’s pretty much the standard in a real estate transaction.
We have worked with many good roofers over the years. If your neighborhood experienced recent hail storm, it’s not a bad idea to call any one of the following roofers for an opinion. They are well-schooled in what is allowable from an insurance standpoint, and are typically able to isolate which storm caused damage based on the kind of damage sustained!
Reitz Roofing 303-466-0161
Roof Brokers 303-750-1900
Academy Roofing 303-360-0708
Northwest Roofing 303-804-0303
Separately, it’s a good idea to review your insurance coverage specific to your roof. We’ve learned that many companies are now unwilling to give 100% coverage to a roof claim if the roof is over 11 years old, in which case the settlement is pro-rated. Other companies have a much higher deductible on roof claims–say, $2500 on the roof when the rest of your policy has a $1000 deductible, for instance. Finally, we’re hearing that some companies will only settle roof claims if the claim is made in the same year as the storm that caused the damage. Bottom line, no one likes surprises or unexpected expense!
We hope you all have a wonderful Memorial Day weekend–please call us if you have any questions or comments!
Today at The Gerwin Group, we’re singing the praises of good friend and Denver author, Adrian Miller. He’s just been awarded the James Beard Award for his 2013 book, “Soul Food: The Surprising Story of an American Cuisine, One Plate at a Time.” Check out this great Denver Post article, and if you haven’t yet picked up a copy of his book, it’s a great read!
http://www.denverpost.com/News/ci_25690751/Denver-author-Adrian-Miller-wins-Beard
A quick update on the Denver housing market, via the Denver Post:
Denver housing market seen as finding balance in 2014
This echoes what Mary and I have been saying about 2013–it was a frenzy, characterized by multiple offers for very limited inventory.
This year, I think we’ll see slower growth in prices, though the best homes will still command top dollar.
For buyers who are on the fence because of low inventory, this article predicts more homes coming online in the spring.
Overall, I think we’ll see a less frenzied (and more balanced) market in 2014.
1. We finished the 2013 with 57 transactions and over $22 million in sales volume
2. Almost half our business came from outside the City of Denver–in Littleton, Arvada, Strasburg, Aurora, Erie, Thornton, Broomfield, Westminster, and Longmont!
3. 19% of our business came from relocation clients
4. Our sales ranged from a $141k condo to a $1.2m Cherry Creek townhome – an average of $400k
5. We launched a new website (www.TheGerwinGroup.com) and a Facebook page
6. Mary’s an early bird and Shaylisa is a night owl…whatever hour you need us, we’ve got you covered!
7. We’re tech savvy and can manage business from everywhere…literally! Mary wrote an offer at Keystone over lunch. Shaylisa negotiated a deal while having cocktails in NYC!
8. We do have personal lives! Shaylisa and Ben got married on June 15; Mary and Joel spent 10 days in Southern France in July!
9. To date, Mary has made over 3016 jars of homemade hot fudge for clients!
10. 80% of our business came from people we know (past clients, friends and referrals)…THANK YOU for another wonderful year!
Did you know that Mary Gerwin spends hours every quarter compiling data about Denver real estate, neighborhood sales, and inventory? We use this data to help inform The Gerwin Group’s clients, and we share it with other realtors. If you live in central Denver, click on this link to see how your neighborhood stacks up against other central Denver neighborhoods:
Neighborhood Sales and Inventory thru 3rd Qtr 2013 vs 2012
Is your neighborhood represented in this list? If not, would you like us to track it? Let us know!
The most recent Case-Shiller index shows Denver home prices rose 10.1% in August. That’s great news in the short-run for sellers, many of whom are thrilled to recover the loss of value they experienced with the real estate downturn.
But what does this mean for Denver-area buyers? These double-digit gains, if they continue, will make it more difficult for your average buyer to purchase a home in the long-run. That said, right now is a great time to buy, because interest rates remain very low. Despite what you may have heard about rates on the rise, interest rates have dropped again, and are still at some of the lowest rates we’ve seen historically.
Check out the full story, including a quote from Peter Niederman (Kentwood’s CEO), in the recent article at Inside Real Estate News:
