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Archive for March, 2011
Lowball Offers Are Sometimes The Only Offer
Mar 18th 11
I wrote this in response to another blog post on another blog. I felt I should share it here.
It seems some Realtors and Sellers get really bent out of shape when a buyer makes a lowball offer. I admit that it can be an insult but many times it’s a wake up call to the seller and listing broker.
If you are not lowball offering in this market you as a buyer’s agent are not doing your job….PERIOD. If you think it wastes your time or insults the seller too bad for you the buyer’s agent and your client. Some situations I admit it is totally uncalled for but in many cases when you run the numbers for the property it’s the only offer I will advise a buyer to make. I can easily make that recommendation with good conscience.
Funny but some sellers STILL do not realize that values are down for everyone including them and not just their next door neighbor.
I recommend running the numbers for each neighborhood in a buyer or seller’s area so you can show them just how much of a percentage drop has really happened in their neighborhoods and areas. Nobody cannot argue with factual numbers. When the real facts are submitted with an offer or presented at a listing appointment it really brings clarity to the situation and alleviates a lot of headache.
Here are two situations I was recently involved in where I advised my buyers to make low ball offers.
- We just offered $850,000 on a $1.225 listing. Got it for $925,000. Yeah the lowball was worth it and my client was stoked. I took the time to run the numbers and truly figured out what the property was really worth. As a result it saved my buyer $300,000 off the asking price.
- Another client just got a rental for 50%….YES I said 50% of asking price. He is one happy investor right now. We offered 55% of asking price to see what would happen and they countered back at 50% of asking. Of course my buyer took the deal.
Stonegate home gets painted kitchen cabinets done correctly.
Mar 17th 11
Painted Kitchen Cabinets
More Photos of the painted cabinets below.
Stonegate Neighborhood Home Updated with Painted Cabinets. Falcon built, Victoria Model.
We have all seen them. The dreaded orange kitchen cabinets. (Pictured below) My wife and I call them orange but the builder called them “natural” when they sold them to all of us. I guess in the mid 1990’s there wasn’t a staining technique that allowed for a neutral color stain to stay neutral on oak kitchen cabinets and floors. Over time they all turn a very ugly color of orange especially if exposed to direct sunlight.
The typical scenario of kitchen cabinets being painted.
I’ve had more people than I can count say they painted their cabinets and that I needed to come see them because it looks awesome. Typically as soon as I walk in the door I can instantly see what happen. They dropped the kids at school, called over their girl friends and after a Starbucks and a round of gossip they all started painting…with brushes. There are only a very few pro painters I know personally that can paint a cabinet with a brush and make it look good. From a distance the job they did was nice but up close the bad brush strokes and missed or forgotten interior is exposed. Ouch. It looks horrendous.
Faded Orange Oak Cabinets
So what do you do?
Call a pro. Like I mentioned above there are only a few pro painters good enough to do this with a brush and most of the ones that can do it advise against it. The best way that I have seen is to have is sprayed. No don’t ask hubby to go rent a sprayer at Home Depot or Lowes. Hire a pro painter that has done kitchen cabinets and preferably a pro painter with references and cabinets that you can go see with your own eyes.
Most of the painters I’ve talked with that can do this and have done it will spray the inside of the cabinets too. This looks best in my opinion. When you open a freshly painted cabinet and the inside is a totally different color it just ruins the effect.
Tips for getting your kitchen cabinets painted.
- Call a pro painter or at least someone with references that has done it before.
- Buy some nice trim molding for the tops of the cabinets since you are going to all this trouble and have the painter cut, install and paint it too.
- Don’t pick a wild color. No buyer is ever going to want to see blue or red cabinets in your house.
- Have them sprayed unless you are going for some old world kitchen look. The old world kitchen look really can only be pulled off properly in larger homes with huge kitchens and several different counter top textures. At least that is my opinion.
- Call Sergio 303-901-9109. He is the painter that did the work in these photos. These cabinets were completely painted properly for under $1000.
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- Kitchen Cabinets
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- Stonegate Neighborhood
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- Kitchen Cabinets Painted
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- Updated Kitchen in Stonegate
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- Painted Cabinets
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- Faded Orange Oak Cabinets
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- Painted Kitchen Cabinets
Be a Voyeur in Your Neighborhood
Homes Sales in The Pinery. Parker Colorado
Mar 15th 11
The Pinery Home Sales Report
In this report you will see all the home sales in the Pinery Neighborhood from 2007 to the end of 2010. All price ranges. The report shows only home sales EAST of Parker road and does not include home sales in the newer Pinery Glenn neighborhood.
After writing an article detailing home sale trends over the past 4 years in Stonegate, and Pradera Golf Club other Parker, Colorado communities, I decided to produce the same stats for The Timbers & The Pinery.
The Pinery is consistently one of the top selling neighborhoods in Parker, Colorado. We have to believe that the location, beautiful rolling hills, wildlife and of course the pine forests that blanket the entire neighborhood are the reasons. There are homes available for every buyer in every price range in The Pinery and that makes it very appealing.
My report below for all the home sales in The Pinery is only covering single family homes. Not the condos and town homes or any other attached homes in The Pinery.
FYI-Lenders are calling me all the time to make sure I understand that money is now available for high-end luxury home buyers where it was unavailable just 18 to 24 months ago.
What do you get when you list your home for sale with Steven Beam? See it here.
Total Sales by Year: (These are home sales for The Pinery on the EAST side of Parker Road.)
2007 = 81
2008 = 133
2009 = 99
2010 = 127
Average Total Days on Market: (Less time on the market for 2010 may reflect less inventory and lower prices.)
2007 = 130
2008 =133
2009 = 153
2010 =135
Average NET Sold Price: (There were some really big sales in 2009. Some approaching $2 million.)
2007 = $628,659
2008 = $456,531
2009 = $500,337
2010 = $482,574
Total Volume of NET Sales By Year in The Timbers:
2007 = $50,921,391
2008 = $61,915,660
2009 = $49,533,393
2010 = $61,286,870
Average NET $ or Price per sqft Sold: (This is the sqft on the main level and upper level. It does not include the basement.)
2007 = $196
2008 = $166
2009 = $169
2010 = $164
The average price per sqft has dropped considerably and seems to have leveled off.
Average Price per sqft Finished. (All finished sqft included.)
2007 = $155
2008 = $127
2009 = $128
2010 = $120
The Timbers Luxury Homes Sales Trends
Pradera Golf Club 4 Years Of Home Sales Trends
Stonegate Neighborhood home sales for the past 4 years.
What do all the numbers mean on a real estate closing sheet?
Be a Voyeur in Your Neighborhood
Keystone Colorado. Macey in the gondola.
Mar 11th 11
Macey on the Gondola
I took my daughter on the gondola at Keystone Ski Area. We went up to see the ice castle.
Major Price Reduction – Aurora Colorado Home For Sale
Mar 7th 11
4054 South Atchison Way, Aurora, CO 80014
Asking $221,900
Over the top total remodel from top to bottom. Must see at this price and location. Ride your bike right into the Cherry Creek State Park.
Check out the video of this sweet home in Aurora Colorado.
The Timbers Luxury Home Sales Report.
Mar 2nd 11
Luxury Homes in The Timbers
This report shows you what has sold and closed in The Timbers over the past 4 years. Only closed sales over $750,000.
Last week at the end of February one of my buyers offered on and reached an agreement for a $1.225 million listing over in Pradera. So yes I believe the luxury home market in Parker is slowly coming to life after a lag in 2009.
Steve’s definition of high-end = anyone buying or selling above $750,000.
After writing an article detailing home sale trends over the past 4 years in Stonegate, and Pradera Golf Club other Parker, Colorado communities, I decided to produce the same stats for The Timbers.
Here is a recent article about The Timbers.
Since the end of 2009 there is a new demand for high-end luxury homes all around the Denver Metro. Douglas County and The Timbers have also seen a slight rebound and more activity in the luxury home market. We are not back to the levels we were experiencing in 2007 & 2008 but the year end stats for 2010 was only 7 home sales short of our high in 2007.
Lenders are calling me all the time to make sure I understand that money is now available for high-end luxury home buyers where it was unavailable just 18 to 24 months ago.
What do you get when you list your home for sale with Steven Beam? See it here.
Here are the numbers for Home Sales in The Timbers that have a sold closing price ABOVE $750,000 since 2007.
Total Sales by Year: (2007 was a great year for The Timbers luxury home sales.)
2007 = 27
2008 = 21
2009 = 12
2010 = 19
Average Total Days on Market: (Less time on the market for 2010 may reflect less inventory and lower prices.)
2007 = 211
2008 =238
2009 = 223
2010 =206
Average NET Sold Price: (There were some really big sales in 2009. Some approaching $2 million.)
2007 = $1,086,326
2008 = $935,817
2009 = $1,174,156
2010 = $926,679
Remember I am only showing stats from homes that sold and closed at or above the $750,000 price point in The Timbers.
Total Volume of NET Sales By Year in The Timbers:
2007 = $29,330,805
2008 = $19,652,150
2009 = $14,089,875
2010 = $17,606,900
Average NET $ or Price per sqft Sold: (This is the sqft on the main level and upper level. It does not include the basement.)
2007 = $275
2008 = $261
2009 = $281
2010 = $235
Average Price per sqft Finished. (All finished sqft included.)
2007 = $221
2008 = $191
2009 = $217
2010 = $163
Pradera Golf Club 4 Years Of Home Sales Trends
Stonegate Neighborhood home sales for the past 4 years.
Be a Voyeur in Your Neighborhood
Luxury Custom Home Buyers Love The Timbers in Parker CO.
Mar 1st 11
Beautiful Custom home in The Timbers
At some point in our lives most of us consider or at least dream of owning or building a custom home. I know I have. In Parker Colorado we have the top selling custom home community in the entire Denver Metro area. The Timbers. The Timbers is located in the The Pinery which is a 27 hole golf community in South Parker Colorado. Usually once I bring a home buyer into the The Timbers the neighborhood sells it’s self.
See every home currently for sale in The Timbers
The Timbers Custom homes in Parker Colorado
Beautiful rolling hills, wildlife, views of the Denver, Colorado Front Range and a forest of Ponderosa Pines draw people from the typical suburbs to The Pinery and The Timbers. The Timbers is typically custom and semi-custom homes priced from the $600,000’s up. Most of the full custom homes are selling from the $700’s to $1.2 Million range with others well above the $2 million mark.
Yes there are still lots available for purchase so you can dirt start your dream home. With several great custom home builders to choose from you should be able to have your choice of design and builder. I know for a fact that there are still several very good view lots available too.
People always ask why move into The Timbers versus Pradera Golf Club. I can only say it’s personal preference. The Timbers does have direct views onto the mountains and Front Range and I believe many relocation buyers transferred in to our area really want to get the full Colorado experience and must have the big mountain views. Why not.
Custom Homes in Parker Colorado
The day I wrote this (March 2011) you still have the ability to join both the Pinery Golf Club and The Club at Pradera. Memberships are still available and most of my golf enthusiast clients do end up joining both clubs. Hey why not have access to the new clubhouses at both courses and the ability to play 45 holes of beautifully designed golf course. Count me in.
The Pinery & Timbers Homeowners Association is rock solid too. Expect to pay about $200 a year for HOA fees and yes I did mean per year not per month.
The taxes in The Timbers are also a blessing. The Timbers taxes are about %40 to 50% less than Pradera. Unfortunately Pradera is paying off bonds associated with the building of the neighborhood.
Basically with prices depressed from the real estate market downturn and interest rates down coupled with the fact that lenders are NOW lending money to high end luxury home buyers I would say that it is a super time to check out that luxury custom home you have been dreaming about.
I ran the numbers for The Pradera Golf Club and over the past 4 years prices on luxury homes over $750,000 are down $12.83% from their high in 2006/2007. I will soon post the figures for the 4 year sales stats for The Timbers but you will need to check back for that information or call me (Steven Beam 303-941-4663) for an email copy. I will post it soon.
If you are considering selling your home I would love the opportunity to earn your business. Here is a preview of a recent sale and a testimonial from a recent luxury home seller.
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