Welcome to My Denver Real Estate Blog and Community News

You'll find local information, buying and selling tips, and updates on listings and market reports for the Denver Real estate market and specifically Wheat Ridge Real Estate.

March 21, 2022

Investing Wisely: Backyard Renovations & Upgrades

Looking to transform your outdoor space? From adding a sunroom to mounting a large-scale landscaping expedition, there are numerous ways to liven up your outdoor living area. While enhancing the backyard could enrich family time spent outside — on top of increasing resale value — it can also be a costly mistake. Here is a brief look into certain backyard renovations you may wish to reconsider when investing in your family’s future.

Making the space your own can be an enjoyable adventure worth undertaking. However, before jumping in on the DIY home improvement game, be sure to research the best strategies to boost your home’s value. For more examples of costly backyard mistakes, please see the accompanying resource.

Graphic created by Pool Troopers.

For more information on Wheat Ridge homes for sale and all Denver real estate, contact me at any time. 

Posted in Homeowners
March 20, 2022

Should I Pay an Association Fee Based on Square Footage?

Should I Pay an Association Fee Based on Square Footage

In the downtown Denver area, specifically One Riverfront and other downtown condos, condo association fees are often determined based on the unit square footage. If you have a larger home you're likely to spend more on HOA fees than someone with a smaller home, but why is this the case of everyone enjoying the same amenities?

This is a very common question that I get asked in almost every condo transaction. It doesn't seem fair that someone with 1000 ft.² should pay $300 more than someone with 500 ft.², especially when they use the same amenities such as a pool, fitness room or other perks of the building.

It's important to compare the associations. Ask what you're actually paying for and what the differences between the square footage is based on how many are actually paying. If you don't feel that the additional cost required for a larger unit is appropriate, you may not want to buy a condo in that building. Also, just because this is the way they've always done it doesn't mean that it's necessarily right. You could talk to the Association before buying a home about how easy it would be to change homeowners association fees or how they are regulated.

It also depends on how many different floor plans there are. If the building only has three different floor plans and there are three different price points, it might make sense but it also depends on how different those fees are and what they entail. Larger units hold more people and therefore the possibility of more water use, trash disposal and electricity usage, which could be included in association fees.

Very common with taxes. Taxes on larger units are more than medium or smaller units. If you're paying more taxes, using more energy sources is very common to pay more taxes.

When it comes to assessments, those with larger units may also pay a higher percentage of fees because it is divided by the percentage of ownership. This can be also a course of contention as a larger number of smaller units may not want to pay more or equal to the larger unit amounts.

However, this is condo life and you're going to find this and just about every building. You have to decide how much more you are willing to pay or choose a smaller unit and still get the perks of everyone else in the building.

If you have more questions about particular associations throughout Denver, contact me today. I'm very familiar with most buildings in downtown and will be able to offer information on association rules, regulations, and fees.

 More Great Tips for Home Buyers

3 Main Keys to Buying a House

How to Fund Your Down Payment

6 Red Flags to Know When Buying a Home

How to Make Your Offer Stand Out

Posted in Buying a Home
Feb. 21, 2022

Should You Hire A Professional To Take Your Listing Photos?

Even though we likely have a high-quality camera in our pocket, thanks to smartphones, that doesn’t automatically give us a professional’s eye for detail. Pros skillfully use lighting, angles and staging to highlight the most attractive qualities of any room or facade. He or she should know exactly how to make a listing look more appealing. That means your home may sell faster and for more money.

For more reasons why hiring a pro for your listing photography makes sense, see the accompanying infographic.

Should You Hire A Professional To Take Your Listing Photos? created by Asset Based Lending

For more information on Denver real estate and specifically the Wheat Ridge market, contact me at any time.

Posted in Selling Your Home
Feb. 15, 2022

Wheat Ridge, Colorado Real Estate Market February 2022

Wheat Ridge, Colorado Real Estate Market Report February 2022

February 2022 East Wheat Ridge Real Estate Market Trends

The latest Denver housing market report for February 2022 showed that the real estate market went down by 17.77% in new listings compared to the previous year and a 31.04% increase from the previous month (it's usually low because of the holiday season) and residential properties especially single-family detached homes in Wheat Ridge, Colorado are no exception. The shortage of homes for sale in the Denver Metro area and the entire U.S. real estate market is one of the biggest factors of the continuous increase in home prices. 

The real estate housing market report in Wheat Ridge, Colorado for January 2022 was a record-breaking month. It is evident that there is also a shortage of available homes for sale in Wheat Ridge, Colorado. As expected, it's also showing a strong seller's market for every property type and every price point of homes for sale in Wheat Ridge, Colorado. The main focus of this real estate market report is the homes in East Wheat Ridge, from 26th Avenue to 44th Avenue and Sheridan Boulevard to Wadsworth Boulevard. In January 2022, it showed a historically low number of active homes for sale in Wheat Ridge, CO with only 2 homes available at month's end. It also reflected in the number of sold homes which also showed a record-breaking record of only 2 sold homes in Wheat Ridge, CO. However, the home prices in Wheat Ridge, Colorado skyrocketed by a 16.32% increase showing an average listing price of $642,280 compared to the average listing price from the previous year which is $545,378. Homes in Wheat Ridge, Colorado are also still selling fast with only an average of 6 days in the market. The good news is, we are seeing improvements on the number of homes being listed on the market as January 2022 showed a continuous increase in the number of new listings every month since November. January 2022 had 10 new listings in East Wheat Ridge compared to the previous months (3 in December and 6 in November).

As one reflects on February 2022 housing market report in Wheat Ridge, Colorado, there were fewer homes that were bought and sold because there were fewer homes for sale in the East Wheat Ridge area to choose from. It also resulted in the continuation of the strong seller's market, skyrocketing home prices, and extreme bidding wars of buyers looking to buy a home in Wheat Ridge, CO. This challenging market will lead to the frustration of the buyers however, there are still ways to win with the help of the implementation of a new strategy.

What is the strategy? For buyers looking to buy a home in Wheat Ridge, CO, one must do one's due diligence as well as work with an experienced real estate agent in Denver that has a proven track record to understand what your comfort level is when it comes to your budget and what the buyer has been originally approved for. Buyers can also create a list of their 'must-haves' and 'deal-breakers' to further help buyers decide best on the home they're planning to buy. If you are a seller looking to sell your home in Wheat Ridge, CO right now, it's is definitely the perfect time to do so as you can expect it to sell quickly and to receive multiple offers - there is a huge possibility of selling your home for top dollar with the right condition and with the help of a real estate agent in Denver that has a strong marketing strategy and negotiation skills.

If you are looking for homes for sale in Wheat Ridge, Colorado, we can help you find the perfect home for you.

Posted in Market Updates
Feb. 11, 2022

Denver Housing Market Report February 2022

Denver Housing Market Report February 2022: What's Going On With Denver Real Estate Market Today?

The February 2022 Denver Metro real estate market report is OUT!

Denver Housing Market Report February 2022

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening especially if you are thinking of buying a home in Colorado or selling a home in Colorado. Understanding the Denver real estate market statistics is crucial especially now January 2022 was yet again another record-breaking month. Understanding the real estate market reports is a great start to observe the changes that happened, unfold challenges, and discover opportunities that both buyers and sellers can benefit from in today's Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

The February 2022 Denver Metro housing market report showed that the real estate market went down by 17.77% in new listings compared to the previous year and a 31.04% increase from the previous month (it's usually low because of the holiday season). Traditionally from December to January, there usually is a 70% increase in new listings during this time but that's not the case this time. The Denver real estate market still continues to show a continuous decrease in month-end active inventory since October. Another important thing to take note of is the month-end active inventory in January 2022. It showed a historic low with only 1,184 active listings at month's end in the Denver Metro area. To give you a better picture, the number of reported month-end active listings is 10 times less than normal. We can agree that there was little inventory for January 2021 too however, January 2022 is nearly half as much as 48.88% less compared to January 2021.

What happens when the number of new listings and month-end active listings in the Denver Metro area is this low? There will be fewer homes that will be bought and sold because there are fewer homes for sale in the Denver Metro area to choose from. It will also result in the continuation of the strong seller's market and extreme bidding wars of buyers looking to buy a home in the Denver Metro area. Not only that, but because of the low inventory and high competition, the recent prediction was that it will also result in the continuous skyrocketing of home prices in the next three months. This challenging market will lead to the frustration of the buyers however, there are still ways to win with the help of the implementation of a new strategy.

What is the strategy? For buyers looking to buy a home, one must do one's due diligence as well as work with an experienced real estate agent in Denver that has a proven track record to understand what your comfort level is when it comes to your budget and what the buyer has been originally approved for. Buyers can also create a list of their 'must-haves' and 'deal-breakers' to further help buyers decide best on the home they're planning to buy. If you are a seller looking to sell a home in Denver right now, it's is definitely the perfect time to do so as you can expect it to sell quickly and to receive multiple offers - there is a huge possibility of selling your home for top dollar with the right condition and with the help of a real estate agent in Denver that has a strong marketing strategy and negotiation skills.

In the February 2022 Denver housing market report, there were only 788 single-family detached active homes at month-end in the market which showed an 18.60% decrease compared to the previous month and a whopping 37.61% decrease compared to last year. There were also 2,378 new homes listed on the market at month-end which showed a 33.67% increase compared to the previous month but showed a 14.46 decrease compared to the previous year. There were 1,889 single-family detached homes were sold in January 2022 which showed a 43.43% decrease compared to the previous month because of the low inventory and also a 10.73% decrease compared to the previous year. The sale of detached single-family homes for sale is becoming steady in terms of how many days it's on the market with still 19 days in the market. 

In the attached market, attached single-family homes in Denver showed a 22.20% decrease in active homes at month-end at 396 attached homes compared to the previous month and a huge 62.39% decrease compared to the previous year. There were only 1,101 new listings that showed a 25.68% increase from the previous month and a 24.12% decrease compared to the previous year. There were 958 sold attached single-family homes in Denver also showed a 32.15% decrease from the previous month and a 13.85% decrease from the previous year. Days in the market for attached homes are slowing down with an average of 22 days of being live on the market compared to 17 days from the previous month.

Buying or Selling a Home in Colorado

If you are planning to sell your home in Colorado, now is the best time as there's a shortage of homes for sale in the market and you can expect multiple offers. On the other hand, if you are planning to buy a home in Colorado, this season is perfect for you too as there isn't a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and is backed with experience to help you be successful in today's challenging Denver real estate market. 

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's real estate opportunities.

To download or see a copy of the full report, click here.

Posted in Market Updates
Jan. 27, 2022

Declutter Your Home. De-Stress Your Life.

Was one of your New Year’s resolutions to lose weight or get healthier? Or maybe simply to get more organized? If so, we’ve got good news — decluttering your home can not only help you get organized, but may help you shed pounds, lower your stress levels and improve your overall health as well!

First, a cluttered or disorganized home simply makes it harder to find what you need, and more likely to misplace your keys or wallet — causing stress and wasting time. Studies have also found that simply being exposed to a chaotic or messy environment makes you more likely to overeat sweet or fatty foods, which can result in weight gain. Other research has found that if you find your home environment stressful, you’re more likely to feel depressed and to have higher levels of cortisol, a stress hormone that is linked to a higher risk of poor health.       

 

That’s the bad news. The good is that making even some small changes to declutter your home will make it more organized and more restful, decreasing stress and improving your health. The accompanying infographic, The Organization Diet: Cut the Clutter & Improve Your Life, presents proven, practical tips will help you streamline your home. Give the “organization diet” a try. Chances are you’ll shed not only unnecessary clutter but stress and extra pounds as well, setting the stage for better overall physical and mental health. 

Graphic created by Closet Works.

For information on moving to Denver, specifically the Wheat Ridge real estate market and surrounding towns, contact our office at any time.

Posted in Homeowners
Jan. 27, 2022

How To Keep Your Closet Dust-Free

If you’re like a lot of homeowners, you enjoy a clean house but hate all the work it takes to maintain it. When was the last time you dusted your closet, for example? Unfortunately, the same space that holds your clean clothes and accouterment often contains a plethora of dirt and dust — yuck, right? Instead of nonstop cleaning, you could reduce the amount of dust with a few simple lifestyle and design choices.

 

These tips set you up to have less dust in your closet — a welcome benefit in any home. By following these strategies, you could reduce dust and minimize your regular closet maintenance as a result. That said, you’ll still want to sweep and vacuum occasionally to fully clean and refresh the space. You can also periodically wipe a wet microfiber mop or cloth across flat surfaces to remove dust effectively.

Graphic created by Closets.com.

For information on moving to Denver, specifically the Wheat Ridge real estate market and surrounding towns, contact our office at any time.

Posted in Homeowners
Jan. 27, 2022

Bathroom Organization Ideas That Cut The Clutter

 A well-organized bathroom is essential for smoother mornings and relaxing evenings. Utilizing smart storage solutions allows you to add functionality and space to your powder room. Read on to find out how to bring order to your shelves, vanity drawers, countertop and under-sink area.

Keeping an orderly bathroom is much easier when you’ve designated storage locations for your bath products. Floating or open shelves add a modern touch over traditional cabinets. Everyday toiletries could be stored on them — including lotions, toothbrushes, shaving creams and towels. Over-the-toilet and corner shelves also make great use of empty wall space. However, if you choose to store items above the toilet, it’s best to get in the habit of keeping the toilet cover closed. This prevents toiletries from falling inside and minimizes contamination.

Whether your bathroom is big or small, these savvy storage ideas could help you add space and stay organized. For more ways on how to designate storage locations for items, see the accompanying resource. 


Graphic created by Modern Bathroom.

For information on moving to Denver, specifically the Wheat Ridge real estate market and surrounding towns, contact our office at any time.

Posted in Homeowners
Jan. 27, 2022

When Should You Move? Where Should You Live?

Young people just starting their careers and perhaps living on their own for the first time generally move into apartments. After a while, they may move to a larger apartment or to a condo that has more square feet than their apartment. Many couples begin married life in an apartment or condo but eventually move on to a larger house.

 

The accompanying infographic, Go Big AND Go Home … Deciding When to Move and Where to Live, presents a list of the top five reasons people move from apartments and condominiums into single-family homes. It also offers tips for what you should look for in a new neighborhood based on your unique situation. Review this infographic when you’re ready to make your move. 

Graphic created by New City Moving.

For information on moving to Denver, specifically the Wheat Ridge real estate market and surrounding towns, contact our office at any time.

Posted in Real Estate News
Jan. 19, 2022

Year-End Special: Denver Housing Market Report 2021

Year-End Special: Denver Housing Market Report 2021

Let's talk about how did the Denver housing market report in the Denver Metro Area went this 2021 and its historically record-breaking statistics.

Year-End Special Denver Housing Market Report 2021

It is important to understand what is happening currently in the Denver Metro housing market and as well as why it is happening especially if you are thinking of buying a home in Colorado or selling a home in Colorado. Understanding the real estate market reports is a great start to observe the changes that happened in 2021 and 2020, unfold challenges, and discover opportunities that both buyers and sellers can benefit from in today's Denver Metro real estate market. My Colorado Move is here to dive deep into these numbers with you.

Denver Metro Housing Market Report

High demand, low supply. The last month of 2021 Denver Metro housing market report showed the historically low active inventory in the Denver Metro area at month's end yet it also showed a record-breaking increase in home prices. In 2021, the interest rates remained consistently low. However, this is projected to change this 2022. Big names in the US real estate market like Fannie Mae, Freddie Mac, and many more have predictions of interest rates and mortgage prices increasing in 2022. The 2021 Denver real estate market statistics showed the lowest month-end active inventory at only 1,477 where it dropped drastically by 34.30% compared to the previous month and a huge 41.87% drop compared to 2020. This drop in active inventory is 11,175 fewer homes for sale in the Denver Metro area than normal. In terms of the attached and detached single-family home in the Denver Metro area, the December 2021 Denver real estate market report only had 968 single-family detached homes for sale and only 509 attached properties for sale by month's end throughout the entire Denver Metro area which is the lowest it has been for 2021. 

The shortage of homes for sale in the Denver Metro area is one of the biggest factors of the continuous increase in home prices. There were more buyers than there are homes available for sale not only in the Denver Metro area but in almost all areas nationally. We have seen home buyers having to compete for the highest offer and offers with the best terms. Another factor is the increase of conforming loan limits to $684,250 in the Denver Metro area which is $37,050 higher than the entire conforming loan limits in the US. This encouraged buyers to buy a home in Denver now as they can purchase a home for $750,000 and only put 10% down without it being a jumbo loan.

In the December 2021 Denver housing market report, there were only 968 single-family detached active homes at month-end on the market which showed a 32.96% decrease compared to the previous month and a 26.44% decrease compared to last year. There were also 1,781 new homes listed on the market at month-end which also showed a 30.43% decrease compared to the previous month and a 12.78% decrease compared to the previous year. There were 3,155 single-family detached homes were sold in December 2021 which showed a 16.40% decrease compared to the previous month and also a 12.26% decrease compared to the previous year. Detached single-family homes for sale in Denver are slowing down a bit with an average of 19 days of being live on the market compared to 15 days from the previous month. However, the average closed price went up to $705,753 showing a 0.25% increase from the previous month and a 15.61% increase compared to the previous year and a day faster compared to the previous year's 20 days.

In the attached market, attached single-family homes in Denver showed a 36.69% decrease in active homes at month-end at 509 attached homes compared to the previous month and a whopping 58.45% decrease compared to the previous year. There were only 871 new listings that showed a 26.19% decrease from the previous month and a 12.37% decrease compared to the previous year. There were 1,349 sold attached single-family homes in Denver also showed a 12% decrease from the previous month and a 17.44% decrease from the previous year. Days in the market for attached homes are also slowing down also only by just a day with an average of 17 days of being live on the market compared to 16 days from the previous month yet 15 days faster than the previous year's 32 days.

Buying or Selling a Home in Colorado

2021 was a year of an extreme seller's market and we can see that continuing in 2022 so if you are planning to sell your home in Colorado, do it now! It's the best time to sell your home in the Denver Metro area as there's a shortage of homes for sale in the market, there are more buyers, and you can expect multiple offers, even an above asking price offer for your Denver, Colorado home. 

On the other hand, if you are planning to buy a home in Colorado, you need to do it ASAP. Why? The longer you wait, the more home prices are going up. As we've mentioned before, it's been projected that interest rates will start to slowly go up so doing it at the earliest time possible will save you more money. Experts' prediction states that in 2022, we can see interest rates starting to rise again and expect that home prices will continuously increase towards the end of 2022. f you are a buyer and have been planning to own a home in 2022, this is the time to stop waiting. If both home price and mortgage rates increase, you will be paying a lot more if you wait until the end of the year. Do it as early as you can! The increase in the interest rates, the mortgage rate will result in an increase in home prices. The earlier you start the home buying process, the better. 

You deserve a real estate agent who has a proven strategy, is a strong negotiator, and is backed with experience to help you be successful in today's challenging Denver real estate market. If a new home in Denver is on your goal this 2022, My Colorado Move, is here to help you find your dream home.

Our goal is to help our clients understand how these changes impact them to be able to create a strategy to benefit from the current Denver housing market. It is still definitely a great time to sell and move up to buy in many Denver communities with today's real estate opportunities.

To download or see a copy of the full report, click here.

Posted in Market Updates