Buyers Love Bragging Rights

As a seller, no matter the state of the market – Buyer’s Market, Seller’s Market or Balanced Market, paying attention to your property’s pluses will pay dividends at the closing table. Let’s talk about some of the features and benefits of your home you’ll want to make sure to mention to your pool of buyers.

STORAGE

If you’ve got storage to spare, whether in closets, the basement, your garage or a nifty shed in the backyard, MENTION IT! Current renters and anyone upsizing will be in need of additional storage and “not enough storage” may be one of their chief complaints. “We’ve got way too much storage space in this home!” Said no one, ever! If you’ve got it, flaunt it, and mention it in the listing description.

COMMUTABILITY

Few people enjoy a lengthy or traffic-riddled commute, and traffic in the Denver area has increased over the past several years. If your property is convenient to bus stops, Light Rail service, or convenient routes to downtown or other saturated work areas, shout it from the rooftops. Potential buyers will be more likely to keep you on the list, and to pay asking price or more, if you help paint the picture of all the extra time they’ll have in the home with commuter friendly benefits nearby.

ROOM FOR GRANNY & GRAMPS

If your home has comfortable space to accommodate aging relatives long term, or even just for the weekend, share this information clearly. With an aging Baby Boomer population choosing to move in with family instead of into long term care, having the right space for older loved ones is a priority for many families. Don’t miss the opportunity to appeal to buyers with this need.

GREEN & EFFICIENT LIVING

Highlighting features in this category will appeal not only to the Eco chic, but to budget savvy buyers as well. If you have energy efficient windows, solar panels, water saving toilets/shower heads/sprinkler system, make these details known. Everybody wants to save money. Even noting the savings on heat or AC based on shade trees or the direction your home faces, ie. lots of natural sunlight and lower heating bills for an East or South facing home. And if you can mention exactly how much your efficient features allowed you to cut utility bills, even better! Buyers will eat this stuff up. To attract the Green Scene, make sure you mention built in green features like a compost or recycling bin, organic garden in your backyard or items like a rain water barrel. If you have cleaned and maintained your home using natural substances only, mention this as well.

As a seller, what kind of return can you expect on your investment right now? As a buyer, which features beyond location, number of bedrooms, square footage and such are the best investment for your real estate dollar? I’m happy to help you understand what’s happening in the Denver market, and help you maximize your home buying dollar or make the most of your real estate sale.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate

Your June Home Maintenance Checklist

With the first day of Summer nearly here, it’s time to get started on your June home maintenance checklist. Many of these tasks are DIY-able with a little help from the interwebs, but if you’d like a referral to a trustworthy pro, I’m happy to provide a reference.

1. Clean the dryer vent pipe.
2. Prune shrubs around your Central Air unit; ensure it is level.
3. Replace AC filter. 
4. Clean and inspect AC condensation drain line. 
5. Spray or leave traps for Summertime pests.
6. Test and adjust sprinkler system.
7. Wash exterior windows. 
8. Inspect/clean/repair window screens. 
9. Pressure wash exterior surfaces/sidewalk/driveway.
10. Clean and maintain the grill. 

Are you considering Buying or Selling a home in the Denver area this Summer, or this year? Give me a ring – I’d love to represent you in our fast-paced marketplace.

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

 

 

Denver On Speed

According to the Denver Business Journal, last month Denver was the fastest selling housing market in the nation, with nearly half of homes on the market going under contract in just 6 days, down from an average of 11 days from Listing to Under Contract at the same time last year.

If you are listing your home for sale and staying in the Denver Metro Area, you may want to consider putting the cart before the horse, and pursuing your next home before you sell your current home.

Things to consider as a Seller in a fast-paced market:

• Talk to your Realtor about including a contingency clause in your Contract to Buy & Sell; the Closing Date on the sale of your home will be determined by the forthcoming Closing Date on your next home.
• Even if you aren’t comfortable making an offer before your home is Under Contract, begin searching for your next home (if you’re staying in the area) as soon as you begin preparing to list.
• Have a Plan B — and maybe a Plan C for good measure.
  • If your home sells before you secure your next residence, can you stay in a residential hotel, or crash with a friend for a bit?
  • If you need to rent while you continue your search, what will this cost?
  • Where will you store your stuff if it takes time to land your next home?
  • Will temporary housing affect your commute?
  • Will you be able to rent within your current school district, if it takes time to find your next house?

As a Seller, the Denver housing market is highly in your favor, and it’s an exciting (and potentially profitable) time to sell your home. If you’re staying in the area and looking to upsize, downsize or transfer to another area of the city, you’ll want to work with your Realtor to plan the details of your “next” so every aspect of your sale, and the transition that follows, is as close to ideal as possible.

Thinking about making a move? In this marketplace, you’ll need an expert guide! Let me know how I can help.

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

Spring Lawn Care

Nothing says “I love my home” like a well kept lawn. 

Seasonal transitions mean it’s time to treat your lawn to a little something extra, and if you’d like to be the envy of your block and the pride of your HOA, now is the time to take care of business in your yard.

5 Tips on Caring for Spring Lawns: 

1. Hold your horses! Don’t aerate until your lawn is mostly green; tackling this task too early can damage young grass shoots.
2. Rake it like you mean it. Dead grass, leaves, and other detritus can put a choke-hold on your lawn, slowing new growth and preventing proper moisture absorption + evaporation. Give your yard a thorough combing, or hire a power raking pro.
3. This is your lawn on ACID… Winter conditions can increase the pH level of your soil, making it too acidic for grass to thrive. Spend a few bucks for a soil testing kit to determine the acidity level in your yard, and if levels are high, spread a bit of lime to balance out the acid.
4. Did you fertilize in the fall? If so, your grass is likely still happily processing the nutrients you applied at that time. If not, consider fertilizing now to prepare your lawn for the growth season.
5. Pre-treat for weeds. This step is ideal for fall, which lets you prevent gnarly weeds before they happen. It’s not too late for a pre-emergent weed killer in the spring, but apply sparingly: you don’t want to harm tender young grass. Tackling weeds before they spread will mean fewer full grown weeds in summer.

Do you need a referral to a lawn care specialist or other home pro? I’ve been in the biz for 22+ years, and I’ve got a guy for just about every home-related task. Just ask!

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

Cosmetic Issues = Buyer Savings

In a high demand real estate market like Denver, Sellers have the advantage. When Buyer demand outpaces available inventory, the Seller is king, and they have the upper hand at the negotiating table. Don’t abandon all hope, Buyers! In any market, there are things you can do to educate yourself so as to gain an edge in the process.

One area Buyers should pay particular attention to is the cosmetic condition of properties they view. In a Buyers’ Market, Sellers have to work harder to appeal to Buyers, including staging and taking care of deferred maintenance. Sellers can get away with minor deferred maintenance or cosmetic issues when the market is in their favor. BUT – these issues can still give the Buyer a little wiggle room at the negotiating table.

The following is a list of items you can use to your advantage when trying to negotiate concessions or a lower price as a Buyer in a Sellers’ Market (or any market):

• Overly colorful paint, or paint in poor condition. If the basement is hot pink or the exterior paint is flaking off, it is worth asking for a minor break in the price, or a “paint allowance,” to help cover the cost of updating the home. You might not get what you ask for, and you may have to offer full price with a “paint allowance” stipulation, but the answer to a question you don’t ask is always NO.
• Damaged carpet or other flooring. I once helped clients buy a house that sounds terrible – but was really a hidden gem: listed under FMV (fair market value), but the house needed all new paint, there were no window treatments of any kind, the main level smelled like dog and the finished basement smelled like cat. UGH – right? They bought this home in a desirable suburb for about $20,000 less than it was worth, and by painting and replacing flooring themselves and purchasing quality blinds on sale, they were able to make this house shine and gain instant equity. Don’t pass up an opportunity like this because the house is a little rough around the edges.
• Fence in disrepair. Wood fencing is a common source of deferred maintenance. I don’t know many homeowners who enjoy staining or painting the fence every year or two. Use this to your advantage. If the Seller has left the fence alone for a few years, or it has obvious damage, ask for a break in price, or ask whether the Seller will meet you in the middle on repair or replacement costs. If you’ve made a fair offer and the Seller is motivated to close the deal in a timely manner, you may be able to pick up a few bucks on an item like this.
• Road construction or other pesky projects – current or future. Even in a Sellers’ Market, major road construction, noisy building sites, even nearby home construction can be a pain. Noise. Pollution. Ugly views. Extra traffic. None of these things are pleasant to put up with. As a Buyer, do your homework! If there is a new road going in half a block away, the Seller should disclose this information if they have it – but they don’t always do that. Learn everything you can about a city or neighborhood, and if there are projects underway or planned for the near future, use this information to your advantage. A motivated Seller with a smart Realtor on their side knows major construction projects near the home will not improve the market value in the short run, and they will likely want to sell the house before the dust begins to rise. Use this information to negotiate a better price, or possibly concessions on the home.

Buying a house is a big deal, and there are a lot of moving pieces. When you work with an experienced Realtor, you’ll reap the benefits of someone who’s got your back – and knows every in and out that could save you money and give you an edge. In a market like Denver, Buyers need all the help they can get to score a great deal. If you’ll be in the market soon, I’d love to help you find the right home and maximize your potential at the negotiating table.

Jack Meyers

The Meyers Group
jackestate@aol.com
303.263.3050
Twitter: @jackestate

 

 

Lowest Inventory in the History of Ever

According to statistics compiled by the Denver Metro Association of Realtors (DMAR), the inventory of available homes in Metro Denver hit an all-time record low since the numbers have been tracked. 

This is great news for Sellers! People want to live in and around Denver, they’re willing to pay a premium to do so, and there aren’t enough houses, townhomes or condos to go around. It’s called a Sellers Market for a reason: the odds are in your favor, and this is an excellent time to maximize your homes potential and gain a return on your investment by selling your property, if you are in a position to do so.

The hot market we’re in right now is challenging for Buyers. Prices are strong. Inventory is low. Interest rates are on the rise. Factors like rising interest rates will eventually put a dent in the insane level of demand in our area because as financing becomes more expensive, fewer buyers will enter the marketplace. In the meantime though, if you are a buyer in the Metro Denver housing market, you need to do everything in your power to give yourself an edge.

Here are a few tips savvy Metro Denver Buyers can use to win at the game: 

Secure financing first. Don’t begin the hunt until you are fully approved for a loan, and don’t wait to apply. If you want to move in 6-12 months, apply for financing now.

Know your timeline. If you want to move in a year, don’t assume you can wait 10 months to begin your home search. Even if the market cools a bit as the Fed raises rates, Denver will likely still be hopping in a year. Plan for the possibility you’ll be searching for a home for several months, and don’t put off the process until the moment you want or need to move.

Don’t go it alone. Unless you are an expert negotiator and familiar with the ins and outs of real estate contract law, seek expert representation to secure a legal, smooth-as-possible transaction. Things move quickly in a market like this, and if you aren’t prepared, you’ll lose out and possibly hit legal snafus along the way. Work with an experienced real estate professional to avoid pitfalls.

Whittle down your must-haves. Wouldn’t it be nice if your next house had freshly painted walls, beautiful hardwood floors, newer appliances (included, of course) and stylish high end draperies in every room? In a Sellers Market, you may have to give up on some of your wishes and hopes in order to snag a deal. You can paint, upgrade the flooring or appliances and install fancy curtains later; if you aren’t able to successfully close on a house, none of those details will matter. Choose 5 absolute must-haves and mentally prepare yourself to look past minor imperfections.

Steel yourself – there will be disappointment along the way. The reality of a competitive real estate marketplace is this: you will likely make offers (notice I said offers – plural) that are ignored completely or rejected. You may come back with a higher/better offer on a house you love and be rejected a second time. It will probably bum you out every single time – at least a little. The key is not to let yourself fall in love on the first date. Not even once you are under contract – because sometimes contracts fall through. The time to really let loose with a victorious hoot-holler-we-did-it victory dance is the moment you walk away from the closing table with keys in hand. That’s when the house is really yours, and that’s when to breathe a sigh of relief and start dreaming big dreams about your new digs.

Are you thinking about selling, and wondering if it’s worth your while? Thinking about moving closer to work, into the city, or further out into Suburbia?

Call me or drop me a line in email. I’ve been helping people buy and sell homes across Denver for over 20 years, and I’d love to help you make your next move.

Jack Meyers

The Meyers Group
jackestate@aol.com
303.263.3050
Twitter: @jackestate

How Color Can Help (or Hurt) Your Sale

You don’t have to paint yourself into a bland corner or build a beige box to appeal to potential buyers, but there are good, better and best choices to make in paint colors, decor and accessories when preparing your home for sale. Read on for tips on revising the colors in your home to appeal to the most buyers, and choices to avoid if you’re planning a sale in the next 18-24 months.

In a Better Homes and Gardens survey, 58% of those polled listed orange, black and violet as the colors they’d be least likely to decorate with, in that order. One of the biggest fears shared by future homeowners is they’ll grow sick of the colors in their home. Cracking open a can of paint to try a new wall color may be easy for you (or not), but for some people, picking out a new shade, taping off and painting walls, trim and ceilings can be overwhelming. For some buyers, the move-in ready home they seek is a home that won’t require painting projects.

The BHG poll listed the living room, kitchen and bathroom as the most desirable spaces to feature color, with a preference for neutral, less saturated color in the foyer, dining room and master bedroom. If you’re going to leave a slightly “riskier” color in place when you list your home, pops of color in public spaces are safer bets; consider neutralizing high impact colors in the master bedroom or your home’s entryway. Even if your mantra is “nope to taupe,” you may want to choose a friendly shade of neutral beige, with pleasant accent colors or patterns, for your on-the-market bedroom.

Accent colors, rather than maximum color use on walls and in furniture, will please the most buyers. A heather gray sofa with pale gray walls can handle funky orange pillows, if that’s your speed. Buyers will be able to envision their own furniture in a neutral space like this, because even the least imaginative shoppers know your pillows will go when you do. Pumpkin orange walls though…that’s a tough sell for the majority of shoppers, and if they’re not willing to pick up a paint brush, they may cross your home off the list.

The survey revealed favorite colors (in order) are blue, green and neutral. Consider packing up your more colorful decor and weaving blue or green accents throughout your home for a cohesive design that will appeal to the most buyers. This can be done through pillows, picture frames, towels, dishware, area rugs and bedding. If your walls are already a neutral shade, adding accessories in the same color family will help your home feel like a show home rather than a disarray of mis-matchy-ness – a winning strategy for any listing.

One place to consider a bolder color choice is the front door. Check with your HOA for a list of approved paint color options and consider a classic red, hunter green or ochre (a deep yellow) as an accent shade on your door. A tasteful statement color on your front door (and a brand new door mat) can add to your home’s curb appeal for minimal investment, and enchant buyers from the moment they park the car.

The key to successful on-the-market interior design is to tone down any bold personal choices to make room for your buyer’s style. If your dream sofa is hot pink velvet with black and white striped pillows against a funky accent wall, go for it! In your next house. Take yourself out of the picture so buyers can picture life in “their” home, and you’ll help your sale happen in a timely fashion and for top dollar. At the end of the day, the color you’ll love most when your home sells is green; help your home’s top dollar potential by toning down bold colors and setting the stage for a successful sale.

Jack Meyers

The Meyers Group
jackestate@aol.com
303.263.3050
Twitter: @jackestate