I’M MOVING TO THE DENVER METRO AREA
What's not to like?
Denver, Colorado is a desirable destination
I have watched even those who at first worried about cold weather and snow become some of Denver’s biggest cheerleaders. The 300 days of sunshine are NOT a myth and yes, we have some cold weather and yes, there is the occasional major snow storm but there is never a month without a “rag-top” day (top down on the convertible for you non-fans of Jimmy Buffet). Golf is a year around activity and skiing can be as close as an hour. (The major destination resorts are admittedly more distant from the Denver area.) One of the most common observations from my clients who have recently moved to the Denver area is that “everyone seems so friendly”. We think that may be a result of the sunshine. Humans really are in better moods when exposed to sun.
All of the research shows Colorado residents to be among the highest of all states in health and fitness. Again, you can “play outdoors” all year long. Remember, Denver is not the “mountains”. It is “The Queen City Of The Plains”.
Okay. But Where Should I Live In The Denver Area?
Wow! Lots of choices. As with any large metroplex there are many options. Your choice will always be affected to a large extent by your budget. After that, you may be looking at commute times and schools. You will be choosing from among many typical suburbs constructed from the 1950″s on to some of the interesting urban areas with homes built from the late 1800’s. My observation, after hundreds of buyer clients, is that many (most?), particularly families with school-age children, will trade some commute time to live in a newer and larger home.
City of Denver Neighborhoods
Over the past 15-20 years there has been a major shift to living close to the Denver core. Most of my buyers in these locations are singles or couples without children. The associated supply/demand ratio has resulted in increased prices in the close neighborhoods plus major new construction. There are certainly many options whether you are considering the southeast Denver Neighborhoods of Welshire, Washington Park, Platte Park, Lowry, Cherry Creek, Hilltop, Bonnie Brae and Belcaro; the Northeast Denver neighborhoods of Stapleton, Congress Park, Capitol Hill, Park Hill, Lower Downtown, Riverfront and City Park; or the various Highlands neighborhoods to the northwest, to name some of the more well known neighborhoods. I expect to address each of these in subsequent posts to provide both objective data as well as my more personal and anecdotal observations.
Suburban Living is Better for Some
Your choice of which direction to go for a suburban lifestyle may well be driven by your anticipated commute. If your work is in “downtown Denver” some of the north and west cities offer good commutes. Lakewood, Golden, Arvada and Wheat Ridge are some of the closer areas. A longer drive to Northglenn and Thornton will be rewarded with lower prices. And there are cities further away as well.
If your work is in the Denver Technological Center (DTC), the large office park to the south, you may well consider Centennial, Littleton, Highlands Ranch, Aurora, Parker and Castle Rock.
There are more cities and neighborhoods to explore and consider and the mention above relating to commutes does have some overlap along with the acknowledgement that there are factors other than commutes that are going to affect your decision.
You Can Get Help With Your Denver Area Move
I have been assisting people moving to the Metro Denver area for over 20 years. Because I always and only represent buyers, I do not focus on one area and have clients from Elbert County (pretty far east) to Evergreen (foothills west). If you are new to the area you want an agent who can help you to evaluate your options and find a location that will be a good fit. Call me for help.
Russ Murray, Exclusive Buyer’s Agent
303-721-1100, ext. 1
“I’LL BUILD IT TO CODE. WE DON’T NEED A PERMIT”
What You Need
What is a “building permit”?
Every municipality with which I am familiar requires some sort of permitting for additions and modifications to a home. Standards and requirements may vary but the requirement does not. A permit is usually issued by the building department, requires payment of a fee and comes with the requirement for progress inspections by a representative of the buidling department. If a contractor is saying that a permit is not required, I suggest that you call the building department, describe the scope of the work and learn for yourself. Permits are always required for modifications to plumbing, heating, electrical and the structure. One may or may not be required for removal and replacement of cabinets and/or a dishwasher or disposer.
Why do you need one?
Permits are required to protect your health and safety. The best general contractors, electricians and plumbers can miss something or simply be behind on recent building code revisions. Once those pipes and wires are buried in the wall you will learn about the errors the hard way! Just a few of the problems that I have encountered in my practice are missing attic insulation, improper construction of interior walls, ungrounded electrical outlets, overloaded electrical panels and un-connected plumbing drains. There are more but the preceeding should give you pause enough.
Does the building department inspection provide a “guaranty”?
Unfortunately, not! It is a good start. The municipal inspectors are usually competent but they are human and can be defensive. I found an instance of an unsafe difference in riser heights on a stairway and approached the chief inspector who said that the contractor must have gone back after it was inspected! That made a lot of sense! If you are doing a significant project, you should hire your own inspector who will become the third or fourth set of eyes evaluating the progress. A competent and responsible contractor will welcome the addition. Just be sure your inspector has the right perspective regarding his/her role. This sounds like a broken record but when the health and safety of your family is on the table, you want to have someone on your side.
Monitoring the process
Just obtaining the permit is only a start and I have seen many remodels where the contractor has the permit posted but never calls for an inspection. The homeowner did not know how to follow-up. The best thing that you can do is to know what inspections are required and then kind of casually ask your contractor when they are expected. The contractor will then know in a relatively non-threatening way that you know what to expect. Better yet, have the municipal and your personal inspections as a part of the contract and progress payment.
Be sure the permit is “finaled”
Again, learn from the building department how they “final” or “close out” a permit. Have your final payment to the contractor be subject to your receipt of the completed permit and/or satisfactory confirmation that the final inspection approved the completed project.
The “bottom line”
By requiring a permit you will have more confidence that your project will be completed with no health or safety issues and that when you are ready to sell your home you can demonstrate to a buyer that all work was properly permitted and inspected. I always check for permits and have had several clients walk away from and otherwise desirable house when learning that modifications were made without permits. A reputable contractor will not work without a permit. You may want to reconsider a contractor who wants to do your project without a permit.
If you find this information more than just interesting and want a broker who understands the whole process on your side for the purchase of a home, you can contact me.
Russ Murray
INCLUDING THE KITCHEN SINK!
The Best Choice?
Everything Ages
Looking at our own homes is sometimes like looking in a mirror. We just do not really “see” how things are wearing out. One of the items that does not always age well (but which we may not notice) is the builder-installed kitchen sink that we use many times each day. Look closely. Yours may be showing that age and wear. The correction may be easier than you think.
How Do You Know What You Have?
Most production builders install an “enameled steel” sink because it is the least expensive. You can tell that is what you have by “thumping” it with your fingers. If you hear a hollow, oil can sound, you have enameled steel. If you are continuing to read this and considering a replacement, you are probably noticing some chipping and marks. The steel flexes but the enamel does not and that is why it does not stand up as well.
Some production builders install “stainless steel” sinks. This tends to be a slightly better option. The two problems with many builder-installed stainless steel sinks is that they are often shallow and of a lightweight “gauge” of stainless. Owners usually do not notice this until trying to wash the turkey roasting pan and/or finding dents in the sink.
It is possible that you may have an enameled cast-iron sink either by the builder or a replacement by a prior owner. Because of the cast iron, the “structure” of these sinks holds up well but the enameled finish really takes a beating over time and eventually does not clean up well.
What Are The Options?
Over my twenty years of showing homes, I have seen thousands of kitchen sinks. The older sinks that look the best are always of heavier gauge stainless steel. Various factory made composite sinks have been available for several years and my outlook for these is good. There is just not as much history as there is for stainless. If you are replacing counter tops with a manufactured solid surface, I recommend against the integral sinks as I am seeing many of those look beat up and chipped after a short time.
What To Look For?
Be sure to see the sink that you are considering out of the box. Check the depth and be sure that it will meet your needs. (Hint – 6 inches is too shallow!) Price will vary according to the design and very important, the “gauge” of the metal. (Lower numbers are heavier guage.) Anything lighter than 18 gauge (i.e. a higher number/gauge) is likely to disappoint as it will dent easily. Consider a heavier gauge if your budget allows.
Should You Attempt The Installation?
If you have already had some experience with plumbing repairs around your home, removing the old sink and replacing it with a new one may be a fit for your skills. If not, call in the pro. You can figure 2-4 hours depending on the complexity of your installation.
Other Home or Replacement Questions?
I see a huge number of homes every year and have listened to comments from hundreds of home buyers. You can look to me for any of your home-owner questions and/or to have a broker with you who really knows how to evaluate the condition of a home.
Russ Murray russ@buyerbroker-denver.com
BUY A HOME NOW! PRICES ARE ON THE RISE! – NOT
Is Now The Time?
Is Now The Time?
Who has the best advice?
I always tell my clients that only if the person making the above prediction retired young and on the basis of such predictions should they pay attention. Unfortunately that person is probably on the beach somewhere enjoying a Margarita. The pundits still working are just guessing.
Which forecast is best?
Will prices go up? Certainly. But when? And, perhaps more importantly what are prices doing in your neighborhood. Just as “all politics are local”, the same is true for home values. The state or national trends may have some use, but not if you are buying in Washington Park or Highlands Ranch or Park Hill or…you get what I’m saying.
An experienced broker in your market should be able to provide data for you that will show how your selected neighborhoods have faired over the past several years in both the up and the down markets. You can then make an informed decision regarding where to purchase knowing that history.
The Denver “connection”
In our Denver Metro market their are several neighborhoods where prices have been flat with even some upward movement over the past year while other neighborhoods have decreased in value by 30%. There can be reasons to purchase in either. You just want to be an informed consumer.
Need help answering these questions?
You can contact me at russ@buyerbroker-denver.com or at other contact information on this page. I am an exclusive buyer’s agent with experience in all of the greater Denver markets.
IS YOUR FAMILY SAFE IN YOUR HOME?
Almost everyone becomes somewhat complacent regarding safety issues in their homes and it seems that the longer we are in the home, the more complacent we become.
Testing is Important
When was the last time you “pressed to test” your smoke alarms? Batteries changed annually? (A good time to help remember is at the change from Daylight to Standard time.) If you are in a home built before smoke alarms were a requirement, have they been installed?
Add a CO detector
Many states and/or municipalities are now mandating carbon dioxide (CO) detectors in new construction and at time of sale for existing homes. These are relatively inexpensive devices that are regularly saving lives.
CO is colorless and odorless and as many parts of the country get into the heating season with doors and windows closed, the chances for the presence of CO grows. Having your fossil fuel heating system serviced is a start. The CO detector is next.
As a note, your smoke detector is on the ceiling or a high wall because smoke goes up. CO is heavier than air, so install the CO detector closer to the floor.
Want a Colorado Broker who understands safety and your real estate needs?
You can call me at 800-621-9747, ext. 1 or email russ@buyerbroker-denver.com .
ARE YOU A MOUNTAIN/FOOTHILLS PERSON?
Your "Rocky Mountain" Home
The Foothills Dream
Your "Rocky Mountain" Home
Many of you who are moving to Colorado and to the Denver area are thinking in terms of that “Rocky Mountain Experience”. A bit of reality is that Denver is “The Queen City of the Plains”. Get it? Plains. As in flat. (Well, pretty flat. On my bicycle it is admittedly hilly.) So to have that mountain experience you will likely be heading west of Denver to one of the foothills communities of Evergreen, Conifer, Genesee and parts of Golden. There are some wonderful and beautiful settings in these areas. Beauty and “wonderfulness” come with a price.
Some Foothills Realities
It should be a his and hers decision. My experience is that the “dream” is usually “his” and the responsibilities and inconveniences become “hers”. The drive to shopping is invariably longer and your children have little mobility independence. You (her?) will be driving them everywhere! You now exist somewhere between spouse, mom and bus driver.
Oh yeah, the sun sets earlier too. I was just showing homes in Conifer and while we were standing in the shade, we could see the sunshine on the ground to the east. This is generally more significant during the shorter days of fall and winter. You really did not want to garden anyway. Right?
The reason for not placing your trash out until the morning of pickup does not have to do with neighborhood esthetics. It is so that bears are not attracted.
It Does Work for Many Families
Okay, maybe I should have hit some positive points first. I sometimes get so caught up in my role as a Buyer’s Agent that I tend to provide the negatives first. If you are still reading, then you may be a candidate for a great experience. I never fail to stop and watch the herds of deer and elk as they nochalantly walk through the neighborhoods. Beautiful! Not too bad either is being 20-30 minutes closer to skiing. I do have many friends and clients who have lived in these areas for years and they would not even consider living with the “flatlanders”. They have determined that the views, tranquility and environment are more than a reasonable tradeoff for a few inconveniences.
Want The Best Help With Your Foothills Purchase?
I am an experienced Exclusive Buyer’s Agent with the knowledge of these communities that will help your family to have a great experience. You can email me at russ@buyerbroker-denver.com or call 303-721-1100, ext. 1.
MARKET NOT GREAT IN CASTLE PINES VILLAGE
My “Anecdotal” Observation
I am currently representing a couple whose primary focus is on Castle Pines Village (CPV), a luxury gated and golf community to the south of metro Denver. Because of their schedule and need to narrow their search I previewed eight homes yesterday. Asking prices were from $800,000 to $1,200,000 Two of the homes were occupied, two were being “packed” and four were vacant. That is a reallly unusual ratio of essentially unoccupied homes and is testimony that the market is soft in this luxury segment.
What Did I Find Next?
They had enough interest in one of the homes and requested a preliminary evaluation so I searched for recent sales of similar homes. Of the six recent sales, one was “lender owned” and two were “short sales”. Days on market were 717, 606, 113, 208, 170 and 622. A full 50% of these transactions were of the “troubled” variety. Several of these had turned over twice over the past three years and we found a reduction in price of from 15% to 30%. Those figures are almost unheard of in a community like CPV.
Is There a Lesson or a Message?
I think so. It is that this economy is reaching both up and down the ladder and having an effect on higher income owners along with lower and middle income people. Because we don’t know all of the circumstances we can certainly not make any judgements, but with this kind of result there becomes a better understanding of why high LTV jumbo loans are so scarce and why lenders have so tightend their underwriting.
Why should I (You) Care?
If you have been considering CPV there are opportunities for buyers. While you may not realize as much from the sale of your, say, $400,000 home as would have been the case 12-15 months ago, the potential savings if you “buy up” will be significant.
You can contact me to discuss your individual situation at 303-721-1100, ext. 1 or russ@buyerbroker-denver.com
MONEY PIT? DO YOU REALLY WANT A “VINTAGE” HOME?
Dream or Nightmare?
Close to “Downtown” and “Charming”
Dream or Nightmare?
A significant number of my clients approach me with the goal of living close to the city core and in a “period” type home. For Denver that usually means such neighborhoods as Washington Park, Congress Park, Park Hill, Capitol Hill, the Highlands neighborhoods and several others. They are seeking the convenience of living close to where they work and/or recreate as well as the “charm” and anticipated “quality” of the home.
Look behind the facade
Homes in these areas will have been constructed between the late 1800’s and the early 1900’s. (More in another post about “mid-century” homes.) As to “quality”, if the home has not been unfortunately “updated” to a 1950’s or later “look”, the buyer will find some of the sought after ”charm”. However, many of these older homes also come without true foundations, with lead water lines, no insulation “knob and tube” wiring, undersized electric panels and very scary heating systems. Just in my office, our experience is that 20% of these homes have old clay-tile sewer lines that are leaking and discharging raw sewage underground. We have a conversation with our clients regarding these challenges at the beginning of our search. I sometimes (tongue in cheek) recommend the DVD of “The Money Pit” with Tom Hanks and Shelley Long as a fun way to see the worst case.
You can minimize the risk
The best way to minimize (but not eliminate) post-closing surprises is to find an inspector who is not just “experienced”, but who is experienced with these vintage homes. You may need a separate inspector for a vintage heating system (if you expect to nurse it along) and, ABSOUTELY an experienced professional to video the sewer line. Our clients have saved more money as result of a sewer video than for any other identified deficiency. Your broker should be familiar with all of these conditions and have professionals who can help. You will still want to interview several inspectors and even obtain references. Inspections are always important and even moreso if you are jumping into the vintage home market.
Keep a positive attitude!
I recently visited a client who had just completed a $500,000 renovation on an $800,000 purchase and we noticed that a steam heat line was leaking. Her response? “It’s just part of living in an old home!”
Have an experienced broker on your side!
If your dream is to be in one of these classic and interesting period Denver homes and you want to pursue that dream with an Exclusive Buyer’s Agent who can help to make it a great experience, then contact me. russ@buyerbroker-denver.com or 800-621-9747.
HOW IMPORTANT IS YOUR AGENT’S EXPERIENCE?
Experience = Results
How do you measure “experience”?
Experience = Results
There are brokers who have one year’s experience twenty times over and then there are brokers who have twenty years (or more) of experience representing only buyers plus prior years in and around residential construction. I am in the latter category and continue to borrow from Ronald Reagan’s mantra, “Trust but verify”.
How does that relate to a real estate transaction?
Consider a recent transaction where the video of the sewer line in a “vintage” Highlands home revealed a break in that line. The seller agreed to correct the defect, hired a contractor and presented us with a video of the repair. End of story. Not quite.
I said “thank you” on behalf of my client and then, per the language in the “Inspection Notice”, had our inspector re-video the line. You guessed it! There was another break ten feet further down the line. Our language in the inspection agreement and our diligence in adhering to that language saved our client money for the obvious future repairs along with the stress of having a sewer backup in their home.
How can I have that level of expertise?
You can contact me at 303-721-1100, ext. 1 or russ@buyerbroker-denver.com .
I COULD HAVE HAD AN EBA!
I could've had an EBA!
That is what you do not want to say just before or just after you have closed on your dream home and are wondering if you have been told everything.
EBA “Defined”
EBA is the acronym for Exclusive Buyer’s Agent. These are real estate professionals who have determined that consumers are best served by a licensee who always and only represents the interests of home buyers. EBA’s do not list and sell homes and therefore do not have the conflicts of interest or conflicts of attention that are a part of life in a “traditional” real estate office. To torture a phrase from a famous purveyor of chicken, “they do buyers right”. Read the rest of this entry »