Category Archives: Real Estate News

Our AZ Trip & Understanding My Buyers

As a REALTOR®, I help people buy and sell homes and property all the time.  I’ve also moved many times. I was in the USAF for 11 years and moved about every 18-24 months, with two overseas moves.  Once Mike and I were married, we moved every two years for the first 8 years of our marriage for our careers.

It’s kind of fun when you’re younger and don’t have a lot of stuff (furniture, cars, pets etc).  That said, the last move we made was a lot of work, even though it was relatively local.  Stuff just seems to multiply, and gets harder and more expensive to move.

We are thinking about a second home for the winter. 

A lot goes into the decision to move, even part time.  Finding a new home is a lot of work – on both sides i.e. for both the REALTOR® and for the Buyer.

As a REALTOR®, I spend a lot of time screening homes for Buyers, especially if they have a short visit, so they can make the most of their time in the area.  I try to understand, to the best of their knowledge, what they are looking for in terms of price range, geographical area, and amenities. Then once the Buyer has narrowed down the list of homes to see during their visit, I set those showings up allowing time for detours and second showings. I also make sure I know and understand the market they are interested in so I can be a source of additional information for the Buyers.

Our Realtor in AZ did the same for us. She pre-viewed properties and helped us narrow down the list based on her knowledge of the areas, the local market, and the properties she already knew.  We hit the ground running after our flight in.  Wow, I was whupped at the end of each day of looking at homes. I know our REALTOR® was too because that’s how I feel when I’m showing with new clients. Besides the physical stamina required to view 8-10 homes a day, I forgot how emotional this can be.  Emotional in many ways – all the what if’s of jobs, changing lifestyle and health, amount to spend, commute time etc.

Of course, we were a typical Buyer. We weren’t sure of the area we wanted to buy in, how much we wanted to spend, or how much acreage we wanted.  Our spectrum of homes to see a second time was all over the map – no two were the same.  This makes it hard for our REALTOR® to know what we want when we don’t really know ourselves.  It also helps me understand my Buyers. It’s such a huge decision for most of us, that you want to make sure it’s as right as possible. This takes time, energy and understanding from both the Realtor and the Buyer.

More in my next blog about this process, and hopefully results.

Andria Allen

 

 


 

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More Properties Are Equity-Rich Than Ever Before

We all know the local real estate market has appreciated A LOT over the last 2-3 years. Home appreciation goes a long ways to increasing our equity in the home. Another way to increase equity is to pay down the mortgage. In the past, during the economic downturn, millions were plagued with homes that were not worth what they paid for them. My husband and I were one of those with a rental property in Arizona. The rent did not cover the mortgage, even with a substantial down payment. That negative cash flow each month is not what we intended with an investment property. So, I said, “Let’s sell it”. Wrong. The home’s market value was $60,000 less than we had paid for it. So, we had to find a way to cover this difference between the mortgage and the rent received each month until the home either appreciated enough and we could sell it, or we could raise the rent enough to cover the mortgage. I know many people found themselves in the same situation with investment properties and primary residences. Fortunately for us, the home has now appreciated to much more than we paid for it. And, we were in a position to be able to handle the negative cash flow at the time.

It’s good news (see below) that this trend has begun to correct itself. Of course, in areas of economic growth, this is more likely to be the case.

I’m happy to say, living in Boulder County, that our primary residence has appreciated quite a bit. However, I’m also happy to say, we just paid off the mortgage!! Yeah! This feels like true financial freedom. The extra cash flow each month will be used wisely to expand our retirement portfolio. Paying off a home is a huge milestone for all homeowners.

Call me if you are interested in the market value of your home.

~Andria Allen

303.810.8375


More Properties Are Equity-Rich Than Ever Before

Source: Inman

The number of American properties that are equity-rich has reached an-all time high of 14.5 million, or according to new third quarter 2018 data from property data tracking firm Attom Data Solutions.

An equity-rich property is defined as one where the combined estimated amount of loans secured is 50 percent or less of the property’s market worth…Read More

 

Will Garages Become Extinct?

Hmmm, no garage? I see so many folks who do have a garage and don’t put their car inside as they have other toys and stuff stored there. I know we can expect a lot of changes in transportation options now and in the near future. But, I still like my garage, even if it isn’t for my car. What do you think?

~Andria Allen
303.810.8375

The technology to power driverless vehicles is already here, and greater tests of autonomous vehicles are already hitting the roadways. And as autonomous vehicles are spread around and the popularity of car-share programs rise, housing analysts are already calling on the death of the garage in residential homes…Read More

Selling Tips, Fall Things to Do, and More

Hi everyone,

I thought you might enjoy a variety of articles for this post, so check out the links below.

~Andria Allen

303.810.8375


Fall Things to Do in Colorado

Isn’t fall the greatest time of year in Colorado? Whether you’re outside taking in the sights or…Read More


WK Real Estate Wins Best Real Estate Company & Best Customer Service

We are excited to announce that WK Real Estate has been awarded “Best Real Estate Company” and…Read More


4 Reasons We’re Not in a Bubble

Today’s housing market is vastly different than the bubble market of 12 years ago. Here are four key differences…Read More


4 Tips for a Fast Sale

If you’re selling your home, here are some ways to make a great first impression…Read More


 

The Fifth Wall of Your Home

One of the things I really enjoy about viewing homes, especially remodels or new construction, is finding out “what’s in, and what’s not.” I love this article about the 5th wall. Most of us ignore the ceilings in our home, except to paint them a basic, neutral color. Check out some of these examples! What fun! I love these ideas. You can update a room with some of these simple changes.

~Andria Allen

303.810.8375


Stunning Ceilings: The Latest Eye Candy for the Fifth Wall

Source: REALTOR® Magazine

Ceilings are too often the plain Jane element of a listing, but this element your listing’s structure can assume a starring role and transform a space with minimal effort and expense. Learn about your clients’ options, from millwork to lighting, different shapes, paint, and even wallpaper.

Ceilings have long reflected architectural, economic, and other influences of the day. In early American homes, low ceilings were favored to keep spaces warm, even if they made them feel a bit claustrophobic. During the Victorian era, high ceilings—at least nine feet high and often higher—were embellished, integrating handcrafted cast-plaster ornaments, stencilling, and other decorative treatments…Read More

Sellers Still Rule – For 2 Years, Says Zillow

I’ve spoken with many people who ask, “Do you think we are nearing another real estate bubble?” Well, if I knew, I’d sure be rich. I think the article below from Inman News may be helpful for those asking this question. I do see a “softening” of the local real estate market in some types of properties, price ranges and location. This does not mean a bubble. It means that the property may have sold last year for the initial asking price this year or may have sold within a matter of days to weeks. Now, I’m seeing some price reductions and a longer time on market before a contract is accepted. Again, this is very localized. If you are wondering about your home or property value, please give me a call. I’ll be happy to provide a current market analysis with no obligation.

~Andria Allen, 303.810.8375


Sellers Still Rule — For 2 Years, Says Zillow

Source: Inman News

It won’t be a buyer’s market until 2020, but home price growth has slowed in more than half of the nation’s largest metros, according to the study.

The industry may not see a buyer’s market until at least 2020, according to a majority of real estate economists surveyed by Zillow and Pulsenomics LLC. In the real estate technology company’s latest “2018 Q3 Zillow Home Price Expectations Survey,” more than 75 percent of approximately 100 economists surveyed predicted the market won’t favor buyers until 2020 at the earliest…Read More

Berthoud Is Now “On The Map”

We have all been noticing, and hearing about, the tight housing market, traffic, etc in the Denver area. Well, Berthoud is now officially “on the map” as well with a new professional golf course along with multiple housing options.

There are condos, townhomes, patio homes and larger single family homes in all price ranges available for sale along and around the new golf course in North West Berthoud. There will ultimately be shopping, coffee shops and restaurants included. It’s a lovely community. The area around Berthoud and Loveland has been changing rapidly along with the rest of Colorado, but this community is a large addition to the north Berthoud area. If you’d like more information about this community, give me a call at 303-810-8375.


TPC golf course puts Berthoud on the PGA map

Source: BizWest

BERTHOUD — Colorado — specifically, Berthoud — is now home to one of 34 Tournament Players Club (TPC)  golf courses in the U.S.  Members of the semi-private club are currently playing on the par-72 TPC Colorado course, and the general public will join them later this summer.

In the works for a decade-plus, the TPC Colorado course spreads out over more than 100 acres and sits on U.S. Highway 287 along the edge of Lonetree Reservoir.  The single 18-hole loop course is designed to delight and challenge both beginner and professional golfers with its unique Scottish links-style course…Read More