Archive Page 8
Denver Realtor Dave Browning, with Perry & Co., has found that his 1892 castle-like listing on 2520 High Street has been a magnet for traffic since he marketed it two weeks ago.
The following article originally appeared in the Sunday, August 9, 2009 edition of The Denver Post. Written by Mark Samuelson.
The castle-like house built in 1892 for Robert H. Biegel on High Street a few blocks east of City Park may or may not have been designed by William Lang (Molly Brown House fame)… but Perry & Co. Realtor Dave Browning says it has points in that favor. There’s another castle-like edifice across High that has the same prominent use of stone that many Lang buildings (he did 250 in Denver) show; and there’s a distinctive sitting room off the master that is a Lang signature, Browning says.
One way or the other, David adds, the price ($375,000) represents a nice buy… $20,000 less than the house sold for in 2005, before an extensive remodel by Yianni Bellis and George Balafas of Kentro Real Estate Fund.
The pair replaced the old moors with new hardwood; gave the kitchen a complete updating with granite tops and stainless appliances; and very tastefully redid the finish, trim and paint job, preserving what they could, including original newel posts on the stairs and some stained glass on the landing above. When you arrive you’ll see that the stone elevation (Browning says it’s been a virtual magnet, drawing traffic since he put the house on the market two weeks ago) is worked into an elaborate stone terrace and grassed courtyard front.
“A Castle on High” is the way that’s being billed to other brokers (Browning is serving on the Denver Board of Realtors today… but a few years back he was a television reporter in Colorado Springs.) He and his wife Jenna (she’s at home today with 2-1/2-year-old twin boys) live in Bonnie Brae; he’s handled numbers of listings around City Park West… a trendy name for historic “Whittier” neighborhood, west of City Park Golf Course and north of the hospitals.
“In Central Denver, the market $400,000 and under is still strong,” Browning told me. You’ll see a floorplan that has three bedrooms, two baths up, with loads of built-ins and character in the master, and a study on the main, with a half bath off the kitchen where the remodeler installed an old fashioned pull-chain potty.
No. 2520 High St, with an alley-facing 2-car garage, is north of Colfax on York Street, almost a mile to 25th Avenue, then west four blocks to High St. and right.
Filed under: Denver Colorado Real Estate, Home Renovation, Homes For Sale, Interior Design, Neighborhoods, Perry & Co. Agents | Leave a Comment
Tags: City Park, City Park West, Dave Browning, Denver, Denver Colorado Real Estate, Denver Neighborhoods, Denver Post, Denver Real Estate, Homes For Sale, Mark Samuelson, Molly Brown, Perry & Co, Whittier, William Lang
Perry & Co. Realtor Gina Cornelison didn’t have to wait long to bring her Denver seller a full-price offer: 7 showings in 7 days with a contract on the 8th. She credits her quick sale to responsive sellers willing to listen to her advice about recent comparables, preparing the house for sale and a realistic pricing strategy.
She first met with her sellers in April 2009 and walked through the house like a buyer. She told them what needed to be done prior to listing the house in today’s market where buyers are expecting a lot of value. Her list of “to dos” included:
replacing kitchen countertops
replacing kitchen floor
overhauling the bathroom
dipping, stripping and re-hanging the doors
thorough cleaning and strategically placed candles to rid the home of it’s “old house” odor
staging – removing the too-big furniture and replacing with smaller, cozier furniture that enhanced the room sizes and showcased the style of home.
creating fabulous curb appeal by painting the front porch, front door and porch swing and adding pots of flowers.
Her sellers went to work and Gina helped, including adding pieces of her own furniture when they got to the staging phase of preparing the home for market.
“I gave them an ‘if you do this, then we’ll price it at that’ kind of advice and showed them the comps,“ Gina said. The sellers choose not to put in granite countertops because they didn’t want to replace the appliances. “Granite countertops would have looked strange without new appliances so they put in tile countertops to update the kitchen and it worked great,” says Gina. Gina priced the house based on their updates a bit higher than the sellers thought it should be, but she felt strongly that the house could sell at the price she recommended. The house went on the market on July 31, 2009.
One of the biggest things on Gina’s “to do” list was to create curb appeal. “With the new paint and the potted flowers the house looked fresh and cute from the outside,” she says, and that brought buyers in. Plus, Gina recounted that her sellers edged the grass and watered the flowers every day even though they had moved out by the time it was ready for market. When they asked what else they could do, Gina told them they could turn on lights and music and light the candles before showings. Her sellers took that advice for every showing and it paid off: 7 showings in 7 days with a full-price offer on the 8th day.
Today more than ever with limited inventory and buyers looking for deals, sellers need Realtors who can advise them on how to prepare their home for sale, help them price it for their neighborhood and then market the home to the right buyers. While Gina credits her sellers for their willingness to take her advice, they were lucky to have selected a Realtor who was honest about what their home needed prior to listing and a Realtor with the knowledge about the neighborhood and conviction about her pricing strategy. Plus, Gina used some of her own furniture for staging! Would your Realtor do that for you?
Written by Perry & Co. Marketing Director Lorrie Grillo
Filed under: Denver Colorado Real Estate, Home Renovation, Home Selling, Market Conditions | Leave a Comment
Tags: Denver Colorado Real Estate, Denver Real Estate, Gina Cornelison, Home Renovation, Home Selling, Lorrie Grillo, Market Conditions, Marketing, Perry & Co, Positive Attitude, Real Estate
In order to study the Castle Pines North, Colorado, real estate market properly, it seems prudent to look at the overall United States real estate market first.
Attached (download here) to this article is the Case-Shiller US market 2008 In Review study comparing annual average price variation on a year to year basis since 1988 and the Average price comparison beginning in 1987.
Notice that the market started it’s down trend in 1989 and reached bottom in 1992. It came back to the 1989 level in 1998, a total of 9 years from the beginning of the decline and 6 years after reaching the bottom.
Another Case-Shiller report (not included in this article) indicated that since the year 1980, there has been an average appreciation rate of 25.5% in each five year increment throughout the US. This report also says that there was an astounding 89% increase from the year 2000 to the year 2005! It is my opinion that the reason for this dramatic upturn is that many people were buying homes they could not afford. This is, of course the reason for the dramatic decline in the market place since 2005. Notice that the decline is 40% since 2005 and was only 20% in 1989-1991 down turn.
A couple of conclusions: First of all, the news reports that the market is “coming back” only means that the losses are less. It does not mean that we are rapidly coming back to appreciating real estate values. The values are still on a decline, only at a slower pace. This is what many government officials are calling good news.
My second conclusion is that we are going to permanently lose 30% to 40% of the buyers that purchased between 2000 and 2005, and they are NOT coming back. They should have not purchased in the first place, and now it appears that those individuals will be financially incapable of qualifying for housing for a long long time, if ever.
The other interesting news is found on page two of the Case-Schiller report. It indicates that average home prices in the US are at similar levels as 2003. I have checked out the Douglas County West market from 2007 to 2009 and have found that the average price per square foot went up in 2008 and down to near the 2007 level in 2009. The trend is down as of this time. This is further verified by looking at the number of sales from January 1 to August 3 of each year beginning in 2007. The number of sales went from 112 in 2007, 71 in 2008, and 40 in 2009.
The above local market (micro) facts are also confirmed when you consider that the months supply of inventory is 64 for ranch style properties in Castle Pines and 30 plus years in the entire Douglas County West area for properties in the medium price ranges and above.
The key local ingredient in all of this suggests that the national real estate market will follow previous trends and stay relatively flat in prices for about 6 more years. This assumes that we have bottomed out at this point and that our average prices will mirror 1990 to 1998.
My strong suggestion is that to sell your Castle Pines North, CO house, one must have their property positioned in the market place as the best one available when considering location, condition and price.
Written by Perry & Co. Real Estate Agent D.J. “Sandy” Colling.
Filed under: Home Selling, Information For Realtors, Market Conditions | Leave a Comment
Tags: Case Shiller, Castle Pines, Castle Pines North, Douglas County, Market Conditions, Perry & Co, Real Estate, Sandy Colling
What makes Denver’s Bonnie Brae neighborhood so special?
Without a doubt the stupendous location, charming tree lined streets, and brick tudors! Bonnie Brae is located just a stone’s throw away from the shops on Old South Gaylord, Washington Park, Cherry Creek, and being just minutes to Downtown Denver is what makes this neighborhood the ultimate Central Denver Neighborhood!
1040 South Josephine St is a residence which has been thoroughly thought out from the high-efficiency appliances, to the two tankless hot water heaters, to the radiant flooring and the spa like master bath. A house of this magnitude with such energy efficiency and average monthly utility bills of only $242 (for this sized house this is amazing)! This four bedroom four bathroom home completed in 2007 has been cared for meticulously. The open floor plan lends itself to entertaining plenty of people in the over the top kitchen: dual fuel six burner Viking stove, Sub-Zero refrigerator, two Bosch dishwashers and so much more. Come step inside, live the urban lifestyle while going green in peaceful Bonnie Brae. Bonnie Brae is an always sought after neighborhood! 1040 South Josephine St is competitively offered at 1,299,000.
Written by Perry & Co Real Estate Agent Courtney Ranson
Filed under: Denver Colorado Real Estate, Homes For Sale, Interior Design, Luxury Homes For Sale, Neighborhoods, Who's Who In Luxury Real Estate | Leave a Comment
Tags: Bonnie Brae, Courtney Ranson, Denver Colorado Real Estate, Denver Neighborhoods, Denver Real Estate, Homes For Sale, Luxury Homes For Sale, Perry & Co, Washington Park
The following quotes have been used in the Perry & Co. Weekly Realtor Sales Meeting Agendas. They are included in the weekly agenda in order to motivate company real estate agents and also illustrate the current economic situation in real estate. They are presented together here in chronological order beginning January 6, 2009.
“If you want to be as successful as you dream to be, you need to be thinking about your goals all the time.” – Michael Phelps, Olympic Gold Medalist
“There’s no better time than now to make the shift from doing ‘listing presentations’ to doing ‘listening consultations.’” – Bernice Ross, Inman Real Estate News
“Success is the progressive realization of worthwhile, predetermined, personal goals.” – Paul J. Meyer, Entrepreneur
“If you believe you can, you probably can. If you believe you won’t, you most assuredly won’t. Belief is the ignition switch that gets you started.” – Denis Waitley
“Things may come to those who wait, but only the things left by those who hustle.” – Abraham Lincoln
“You can no longer ignore the fact that 60% of today’s buyers were born after 1964. In fact, 54% of first-time home buyers are in the 25-to-34 age group.” – Bernice Ross, Inman Real Estate News
“Being a great online networker is no substitute for being a knowledgeable professional. You have to know your business, know your market, and communicate effectively.” – Blanche Evans, Realtor Magazine
“The answer is always ‘No’ if you don’t ask for the sale.” – Patricia Fripp, sales trainer
“Focus on what works and be willing to declare what doesn’t work. Embrace change.” – Larry Kendall, Ninja Selling
A child laughs an average of 300 times a day. An adult, 15. Let’s take a lesson from our children! – R. Don Larrance, President, Perry & Co.
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison
“We have a ‘strategic’ plan. It’s called doing things.” – Herb Kelleher, former CEO Southwest Airlines
“Measuring ‘Return On Investment’ (ROI) is no longer an accurate way to gauge your marketing efforts. Instead, you must focus on your ‘Return On Time’ (ROT).” – Bernice Ross, Inman Real Estate News
“Success isn’t a result of spontaneous combustion. You must set yourself on fire!” – Arnold H. Glasgow
“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” – Conrad Hilton
“Your power is always in the present moment.” – Louise L. Hay
“You will never be the person you can be if pressure, tension and discipline are taken out of your life.” – Dr. James G. Bilkey
“It’s everybody’s business to navigate a tough economy.” – Microsoft TV commercial
“Through the years, I have learned there is no harm in charging oneself up with delusions between moments of valid inspiration.” – Steve Martin, comedian
“This may be the best time to buy a home that we’ve seen in this generation.” – Marilyn Lewis, MSN
“Listening to insightful, experienced advice takes all the fun out of screwing things up on your own.” – Kaira Rouda, Author “Real You Incorporated”
“For those who like information over fluff, check out the Perry & Co Blog (yes, realtors are now better journalists than journalists).” – Channon, a DenverPost.com Reader
“When your thoughts become habits, they literally ‘pull’ you towards your goals.” – Larry Kendall, Ninja Selling
“Greatness isn’t just talent. It’s talent applied consistently.” – Gary Player, golf legend
“Safe is risky. If you acknowledge that you’ll never catch up by being the same, make a list of ways you can catch up by being different.” – Seth Godin
“The more people you help, the more people will like you and trust you. What you’re really doing is educating people, that is, solving problems, thus . . ‘teaching sells’.” – Angela Brooks, Marketing Professional
“Your net worth is directly dependent upon your social network!” – Brad Benson
“Create a custom social media marketing plan for your real estate business and commit to it. Schedule daily check-in times for maintaining your social profiles.” - Nicole Nicolay, MyTechOpinion.com
“Buyers are very choosy right now, and only best of the best homes are selling. It’s better to spend money up front to properly condition the home than to provide
buyer incentives.” – Pam O’Connor, CEO Leading Real Estate Companies of the World
“If you don’t have time to do it right, when will you have time to do it over?” – John Wooden, UCLA Basketball Coach
“Agents who are pessimistic about the future of our economy should work with sellers, optimists should work with buyers.” – David Abernathy, Waterfront Properties, FL
“People often say that motivation doesn’t last. Well, neither does bathing – that’s why we recommend it daily!” - Zig Ziglar
“Our market dictates home prices – If 100 comparables sold last month the price goes up, if 100 were listed the price goes down. Supply and demand, it’s as simple as that.” – Diane Turton, Diane Turton Realtors, NJ
“I believe that one very positive effect of the challenges we have experienced over the last few years is that many real estate agents are recommitting to excellence in their work.” - Steve Harney
“There is no comparison between that which is lost by not succeeding and that which is lost by not trying.” – Francis Bacon
“Anyone can push a business card into someone’s hand, but unless you take the time to really talk to that person and connect with them, you might as well throw that business card away.” – Michelle Sandlin, John Daughtery Realtors, TX
“You do not merely want to be considered just the best of the best. You want to be considered the only one who do what you do.” - Jerry Garcia
“Buying real estate is no longer about making money – it’s about living where you want to live.” - Bob Starodoj, Mason Morse, Aspen
“When people ask me what the Return-On-Investment of social media is, I ask them what the ROI of their cell phone is.” - Eric Qualman, Author of Socialnomics
“Regardless of which social media platform you use, your ultimate goal is to engage in conversations that lead to online friendships or that produce followers for your real estate business.” – Bernice Ross, Inman Real Estate News
Click here to read the Perry & Co. 2010 Motivational Quotes.
Filed under: Information For Realtors | 2 Comments
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Just a couple of important things that you ought to know when thinking about buying a 993 (or having just purchased one), especially if you’ve never owned an air-cooled Porsche 911 before.
“993” is the common nomenclature for 911s built between 1995 and 1998. 993 was Porsche’s inhouse project codename. Similarly 996 refers to 911s built between 1999 and 2004, additionally 997 is the body style for those built 2005 to present. Porsches built before 1999 were air-cooled, meaning there are no radiators or radiator fluid – those built after 1999 are water-cooled, like most cars.
It takes about a mile to warm up an air-cooled 993 the morning, also it often takes about the same time for the brakes to be up to full pressure (so don’t worry when you see the brake light stay on for a couple minutes). But you don’t need to worry, even when not at full pressure the brakes work just fine.
Note: You don’t need to warm a 993 up in the winter, just get in and drive – you actually risk overheating it if you try to warm a 993 up.
The rear brakes sometimes squeak when they are dirty with brake dust. However the stopping ability of any 911 will blow you away.
Like any Porsche, a 993 likes to be driven over 3000RPM, unlike the average car that you would normally shift at 2500-3000RPM.
You need to pay attention to 3 oil gauges on a 993, and the most important one, the oil level gauge, can only be read when you are stationary in idle. Also the dipstick is useless because the gauge is more accurate. Typically, a 993 will consume about a half quart every month or so (assuming it’s driven regularly).
When adding oil to a 993 only add a half quart at a time. Stick with whatever brand of oil has historicially been used in your car – I’ve heard changing oils can cause the seals to shrink and thus oil leaks. Porsche recommends Mobil 1 (SAE0-W40). Also keep a quart in the trunk for low oil emergencies.
993s that are not driven regularly are more apt to have issues with engine leaks, due to gasket drying and shrinkage, and valve clogging due to fuel sitting stationary.
The window switches only last about a year. The good news is they only cost about $35 to replace. When they begin to fail, the windows will stutter or stall.
The batteries in the key remotes last a little longer and are also inexpensive – $14. As the remote batteries weaken, the distance you need to be close to the car to unlock the doors will shorten. With a strong battery you’ll be able to unlock the doors from 20 feet away or more.
993s have 2 buttons for AC, one is full blast out of the main vents only and the other is auto temperature direction adjustable. The OEM Heat/AC Controllers are known to fail. To replace a Control Head runs about $1,000. The best source for used Porsche parts that I have found is Parts Planet at 1-800-783-4911.
For more information and/or technical questions, it’s imperative that you join the Porsche Club of America. For a $42 annual membership you will benefit from a 10% service discount on labor at most Porsche dealers, as well as expert online technical assistance. You’ll also receive a monthly copy of Panorama magazine.
You’ve probably heard correctly that there is no cup holder, or right arm rest. This is true, and the ignition is on the left side of the steering wheel like most Porsches.
Why you should never lift off the accelerator during a high speed turn!
“Driving a 993 at the limit is all about smooth weight transfer. This is a hard concept to grasp because 99% of your time driving you are well within the limits of the car, so whatever incorrect driving technique you do does not have any bad effects. But when you are driving at the limit of your car, you can easily spin it causing harm to yourself and your car. If you are in a turn and you lift off the throttle abruptly you will transfer the weight to the front wheels and off the rear wheels. Since most the weight is in the back a Porsche 911, this is going to allow the heavy rear end to keep going in the direction it was before you lifted (remember that high school physics about an object in motion tending to stay in motion?). The result is you spinning. The rear end will keep moving because there is not enough weight on the tires to provide the friction needed to keep it in place, because you transferred the weight to the front tires. Only do an abrupt lift, and only do heavy braking, when you are going straight.
“Staying on the gas during a turn is one of the hardest things to learn. It goes against every ounce of common sense. When you are going too fast into a turn, the last thing you want to do is go faster. But you have to fight that urge because you will spin otherwise.”
My last bit of advice is that you take your time getting to know your new Porsche 911 (993) – don’t push the limits until you’ve spent at least six months getting to know your car.
Please leave any tips for 993 owners I’ve forgetten to mention below as a comment.
Search Cars.com for your new 993!
P.S. I sold this Porsche (1997 911 C4S) in July ’09 with 89,000 miles on it for $39,000. At the same time, I purchased a CPO 2003 911 C4S (996) with 41,000 miles for $39,000.
8/26/09 – Click here to read my “Confessions Of A 996 Driver” rant.
Written by Perry & Co. Denver Real Estate Professionals’ COO & Director of Relocation Services Jon Larrance.
Filed under: Leading Real Estate Companies, Luxury, Who's Who In Luxury Real Estate | 6 Comments
Tags: 911, 993, 996, 997, Carrera, Jon Larrance, Luxury, Porsche