Definitely Dave's Real Estate Blog

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July 5, 2018

Coldwell Banker Helps 20,000 Shelter Dogs Find Forever Homes

Coldwell Banker releases new ad for their Homes for Dogs project.

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Nothing compares to the warmth and comfort of being at home. But for many dogs across America, this feeling is foreign. 
 

  


Because everyone deserves a loving home.


 

According to The Humane Society, between six and eight million dogs and cats enter shelters each year. Plus, almost three million healthy shelter pets are not adopted annually, and only about 30 percent of pets in homes come from shelters or rescues.

These sobering facts are what served as the inspiration the Coldwell Banker Homes for Dogs Project. After more than 100 years of helping people find homes, the real estate company extended its mission to man’s best friend with its “Homes for Dogs Project.” By partnering with Adopt-a-Pet.com, North America’s largest non-profit pet adoption website, the Coldwell Banker network has helped to find more than 20,000 dogs their furever homes.

To increase awareness of the effort, Coldwell Banker has focused its latest advertising campaign called “Old Dog New Dog” to capture the heartfelt story of an agent giving back to her community by helping shelter animals find homes through the “Homes for Dogs Project.”

The commercial features rescue dogs, such as Max, who was adopted in 2014 after being spotted on Adopt-a-Pet.com. Before he was put up for adoption, Max was picked up as a stray and delivered to a “high kill” shelter in San Bernadino, CA. The shelter only keeps dogs for five days before it puts them down, and after Max had been at the shelter for four days, a worker reached out to The Dexter Foundation, a local non-profit dog rescue and adoption agency, which quickly rescued Max and found temporary foster care for him.

“I found him on Adopt-a-Pet.com as I was looking for a dog to rescue of that sort of breed and age,” said Kelly Saffrey, Max’s current parent. “As soon as I saw his picture, I just knew he was the pet for me.”

Adopt-a-Pet.com currently has more than 15,000 shelters and rescues in its network, and it is thrilled to be partnering with Coldwell Banker.

“We share Coldwell Banker’s view that nothing turns a house into a home more quickly than the addition of a loving pet,” said Abbie Moore, executive director of Adopt-a-Pet.com. “And we are so inspired by the desire of Coldwell Banker to launch this amazing program.”

For more information on the “Homes for Dogs Project,” head to coldwellbanker.com/homesfordogs.

The difference between a house and a home is love – and sometimes the smallest things are all it takes to fill that void. The latest Coldwell Banker advertising campaign, titled “Old Dog New Dog,” is a reminder of just that, as we follow the journey to home of Mr. Cooper.  This sentiment is also why Coldwell Banker founded the Homes for Dogs Project, a partnership with Adopt-a-Pet.com aimed at helping adoptable dogs find loving homes. Together, the pair has helped more than 20,000 dogs find homes and are poised to continue this effort throughout 2018. Because everyone deserves a loving home.

Posted in Local Fun, Local News
June 6, 2018

What does the current drop in home affordability mean for you?

Friends and Clients —

Some potentially worrying news came out this month:

Home affordability is shrinking rapidly, according to research by Arch Mortgage Insurance.

In the first quarter, affordability (defined as the size of the monthly mortgage payment needed to buy a home) dropped by 5%. This was mainly due to the increase in mortgage rates, and, to a lesser extent, an increase in home prices.

As a consequence, more people are now stretched and taking on greater debt relative to their income. Other buyers are being pushed out of the market altogether.

And that's not all. Affordability is expected to drop another 15% to 20% by the end of the year. That's because home prices continue to rise, and the Federal Reserve is expected to ratchet up its reference interest rate, which often leads mortgage rates, three more times this year.

What does this mean for you?

Well, if you're looking to sell, you won't have a hard time finding a buyer. Even with decreasing affordability, demand for homes still far outstrips supply.

However, it's certain that buyers will look to take advantage of current conditions before affordability drops further.

That means that this spring and summer might see an additional rush on the real estate market. It also means that right now might be a very good time to list your home if you've been thinking about selling for a while.

On the other hand, if you are thinking of buying a home, you might think news spells doom for you.

However, there's no need to panic.

While affordability is dropping, it is still well above historical averages (just like current mortgage rates). In fact, Arch Mortgage Insurance estimates that homes are now 15% to 20% more affordable than they have been in the period from 1987 to 2004.

At the same time, it's certainly true that mortgage rates are going up, and this will affect what your monthly payments will be on a new home. From this perspective, it makes sense to move now in case you've been looking to buy before rates rise further.

So what's the next step?

If you are thinking of selling, you can get started by finding out what your home might be worth in the current environment. Simply use this home value calculator that takes into account recent Boulder and Denver sales:

Enter your street address here to find out what your home is worth

And if you are looking to buy, check out all the great Boulder and Denver area homes that have recently come on the market:

Click here for all available Boulder and Denver homes for sale

Finally, if you have any questions (whether you're looking to buy or sell), give me a call at 303-442-5001. I'm very active in the Boulder and Denver real estate markets, and I'm always here to help.

May 17, 2018

New Luxury Townhomes in Frederick

There is a new luxury townhome development in Frederick at Wyndham Hill. 

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Glasco Park Townhomes are the newest, best thing to hit the market in Frederick. Our team just listed this new development, and we are super excited to share it with you!
 

  


You can buy these with $0 money down.


 


Located just west of I-25 on Highway 52, the development is right next to the new Grand View Elementary, a K-8 school opening in Fall 2018. 

This community is absolutely booming, with brand new retail and lots of new homes being built. Prices range from $340,000 to $375,000 for an 1,800 to 2,000 square foot luxury townhome with an attached 2-car garage.

For an incredibly affordable price, you can get a brand new home that is low maintenance and move-in ready. 

The Glasco Park townhomes are eligible for $0 money down programs, and you can also take advantage of the low rates before they inevitably rise. 

These homes would be great for first-time homebuyers, investors, or anybody looking to down-size. 

If there's anything we can help you out with, or if you know anybody that might be interested in this community, give us a call. We'd be happy to help out!

 

May 17, 2018

Surprises in the Town of Superior

There are exciting changes happening the Town of Superior!

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This year there are some great things happening in Superior!
 
Tesla Dealership Opening

Elon Musk is opening a new Tesla dealership on Highway 36 and McCaslin Boulevard in Superior. Previously located in Boulder a number of years back, the company is coming back to Boulder County. The dealership will be on a 2-acre parcel and offer both service and sales.
 

  


Exciting changes in the Town of Superior


 


1,500 New Homes in Downtown Superior

Right next door to the Tesla dealership's future location, and close to the new Sports Stable, Remington Homes is building 1,500 new single family homes and townhomes. We can expect to see this project last the next year or two. 

 

New Athletic Club

Lifetime Fitness has created a new Onyx Premier Athletic Club inside the old Lakeshore Athletic Facility. The building was completely remodeled over the Christmas and New Year's seasons, and is now the highest end facility Lifetime Fitness offers. 

 

If have any questions about what's going on in Superior or the surrounding communities, I'm happy to help you out and fill you in!

June 6, 2017

Adding Real Estate to Your Investment Portfolio

Should you invest in real estate? Actually, real estate investments can be a great addition to your retirement portfolio for a few reasons.

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Should real estate be a part of your investment portfolio?
 
There are a couple of reasons why having real estate as part of your retirement portfolio is a good idea:
 
1. Diversification. When you are investing for something so far in the future, you’ll want a variety of items in your portfolio, including stock, bonds, and real estate.
2. Return on investment. When you calculate that you’re paying down the mortgage every month, appreciating rents, and tax breaks, your return could be well over 10%. Plus, once the house is paid off, you have a pure cash flow.
 

  


Investing in real estate is a big commitment.


 


Of course, there are also a few reasons why it may not be a good idea for you to add real estate to your investment property. For one, real estate always comes with surprises. You never know when the air conditioner will go out or the roof will leak.
 
Plus, when you invest in real estate, you are working with people. If someone is down on their luck, your emotions may cloud your decision on whether or not to evict someone or rent to them.
 
Investing in real estate is a big commitment. If you get laid off from your job, you don’t have to put money into your 401(k). If you get laid off and your rental property is vacant, then you are in a bit of a crunch because you are still responsible for paying that mortgage.
 
If you do decide to invest in real estate, here are a few recommendations:
 
1. Start with an easy property. I will set you up with a property to make the whole process fun and enjoyable. Soon, you’ll want to buy more real estate!
2. Do your research. Make sure that you follow all of the rental licensing laws.
3. Be prepared to put 20% to 25% down. On a $300,000 house, that means you would need $60,000 to $80,000.
 
Ultimately, real estate can be a very rewarding investment. If you are interested in getting started with real estate investments, give us a call or send us an email. We would be happy to help you!

Posted in Buying
May 12, 2017

When Is the Right Time to Update Your House?

The right time to update your house is right after you buy it. That way, you can actually enjoy the updates and still get top dollar when the time comes to sell the house.

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I work with many people who are getting ready to put their home on the market, and before they do, they always want to know what updates they should make to it.

They usually opt for updating the kitchen, the backyard, or the master bathroom, but I have a secret about home updates I learned from my mother-in-law that I want to share with you.
 

  


Update your house as soon as you buy it.


 

 She told us, “When you buy a house, update it.”

In other words, update your house as soon as you buy it so you can enjoy the updates while you’re living there. You’ll get the same benefits of those updates when it comes time to sell the home as well. If you want to enjoy your life, do the updates now and get top dollar at the sale.

If you have any questions or are looking to buy or sell a house in northern Colorado, don’t hesitate to give me a call. I’d be happy to help.

Posted in Buying
May 1, 2017

Why Is the Cap Rate so Important to Real Estate Investors?

I work with a lot of real estate investors. Each one is different, but they all recognize the importance of the cap rate.

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I work with a lot of real estate investors. Although they each are looking for different features in investment properties, they all have one common thread. They all use the cap rate to determine if a property is a good buy or not. 

What is a cap rate? It’s short for capitalization rate, and it’s essentially a measure of your expected return on your money in the short term. For example, let’s say you bought a property for $500,000 with a 7% cap rate. That means you would get 7%, or $35,000 back after expenses each year. 

Even if you have to get a mortgage for the property at 4%, you will still earn the difference between the mortgage and the cap rate (3%) in cash. That’s still $15,000 in cash flow on a $500,000 home, plus an additional 7% on your down payment.

 

  


Most investors use the cap rate as an important metric.


 

 

With interest rates so low, now is a great time to buy an investment property and realize that great cash flow. In Boulder, cap rates are around 4% or 5%. In Denver, they are around 6%. In Longmont, cap rates are at 7%. 

As far as selling goes, low cap rates equal higher sale prices. Cap rates are relatively low right now, so we’re seeing properties sell for sky-high amounts. 

Whether you’re looking to buy or sell, I love working with investors in this market. If you have any questions, don’t hesitate to reach out and give me a call or send me an email. I would love to hear from you.

Posted in Finances
March 28, 2017

What Changes Are Happening in the Market?

How are changes in the market going to affect buyers and sellers in the Denver metro and northern Colorado? I’ll answer that for you today.

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What changes are happening in the market? I’ll go over what you can expect to see. 

There are now two separate Realtor databases, one for the Denver metro area, and one for northern Colorado. What does this mean for you?

As a buyer, you should be able to find some really good deals. Homes that are not listed in both databases won’t get the exposure they need to get multiple offers. If a home is only listed in one database or it’s improperly marketed, you might be able to snag it without competition driving up the price. 

  


Buyers could snag a great home without a lot of competition.


 

As a seller, you need to make sure you list your home with an agent that uses both databases to market homes. The key to getting your home sold in the least amount of time for the most money is exposure.

If you are looking to buy or sell a home, or if you have any other real estate questions, feel free to give me call or send me an email. I look forward to hearing from you! 

Posted in Boulder Market
March 28, 2017

How Much Do New Construction Homes Really Cost?

Buying a new construction home can be tricky. Here’s what you should know beforehand.

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In northern Colorado, you see ads for new home builds all over the place. They might advertise prices like “starting at $400,000” or “starting at $600,000” but how much does it actually cost to buy one of these homes?

With one builder, a $400,000 house may end up costing you $450,000. It may end up costing you $600,000 with another. That’s quite a range and all the more reason to have a top agent working with you. They can help you sort through the fine print and make sure you know exactly what you’re getting into before you pull the trigger on buying.

 

 


A top agent will be able to guide you properly.


 

New construction prices typically don’t cover things like A/C units, refrigerators, washer/dryer, or landscaping. These are all things for you and your agent to consider before deciding to buy a brand new home. No matter the outcome, a top agent will be able to lead you in the right direction in order to accomplish your real estate goals.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

 

Posted in Buying
March 14, 2017

First Quarter Boulder Market Update

A lot has been going on in the first quarter here in the Boulder real estate market. I’ve got some key updates for you today.

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What’s been going on in the northern Colorado real estate market so far in the first quarter of 2017?

One thing we’ve noticed a lot of is new construction. This has begun to have the effect of putting a lid on the price of resale homes in the area.

 

For example, you can buy a home in Boulder for around $400,000, which has prevented resale homes from increasing in value. Anything in the $400,000 to $800,000 range has appreciation limited by what these builders are doing. We’re also seeing builders increase their prices by $2,000 or $3,000 every couple months, which is also putting a lid on price appreciation.

 

 


I’ve seen more lots for sale in the last six months than the last 10 years combined.


 

 

We’re also seeing an oversupply of inventory of homes in the $800,000 to $1.4 million price range. If you’re looking to buy a home in that price range, there are some really good values out there. On the other side, if you’re looking to sell your house in this price range, you might have some trouble due to all the homes on the market. However, from $1.4 million to $5 million, we’re still seeing very low inventory and strong demand from a lot of buyers.

One other thing I’m seeing this year that I haven’t seen in the last decade is land selling. I think it’s due to all the extra new construction and the lack of available lots for sale. In fact, I’ve seen more lots for sale in the last six months than the last 10 years combined. That said, land prices are still below what they were at the market peak of 2001 and 2002. If you’re looking to buy land, now is a great time.

If you have any other questions or you’re looking to buy or sell a home in the Boulder area, just give me a call or send me an email. I’d be glad to help.

Posted in Boulder Market