Denver Freezes Are COMING!

Denver has a surprising climate. 80 during the day and 40’s at night. Shirtsleeves in the winter in the sun. Today it is cold and foggy. I love it here! Yet there are surprises we need to be aware of though, right?

Denver Realtor recommends dis-connecting hoses

Denver Hose Bib

1: Hoses on the faucet: This time of year it is a good idea to disconnect them so they do not freeze and flood the basement. Draining your hoses can make them last longer too.

3: Get your furnace filter changed and have the furnace cleaned & serviced. If they say you need a new furnace, get a 2nd opinion (for Denver referrals call me).
4. Water is great for the lawn but you should be able to reduce the usage by cutting back the time per zone and you may want to drain the system.
5. It is a great time to “winterize” the lawn with a fall feeding.
6. Get your snow equipment ready. If a snow blower, does it start? Shovels sometimes loose parts/screws.

Pete Doty has lived in “Denver” since 1978 and has been an active full time Realtor since 1985. Experience and focus on his clients and customers make him the choice for your next Denver Realtor. For more information about living in Denver see DenverRelocation.com

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Pete Doty – REALTOR® | Pete Doty & Company, Inc. Metro Brokers, Littleton, CO

Littleton Realtor Pete Doty

Pete Doty has been a full time Realtor in Denver since 1985 and he now offices in Littleton. His business is primarily located in the south metro Denver suburbs and yet his land experience allows him to work small ranches & equestrian properties equally well. His experience in the Colorado Rockies riding trail in 1966 & 67 earned him some spurs from the lead wrangler.Littleton Realtor Pete Doty

He was awarded the Presidents Distinguished Service Award from the South Metro Denver Association of Realtors as well as a Community Service Award from Douglas County Sheriff Steve Zotos for his work on Neighborhood Watch in Highlands Ranch. He holds the GRI, CRS, and the CNE designations from the National Association of Realtors. 

Pete Doty – REALTOR® | Pete Doty & Company, Inc. Metro Brokers, Littleton, CO has received the following reviews through RealSatified. Please click the link below to see more

Source: Pete Doty – REALTOR® | Pete Doty & Company, Inc. Metro Brokers, Littleton, CO

For information on Denver’s real estate market, and the Colorado real estate process go to DenverRelocation.com

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Should your next Denver Realtor be your BFF?

Friends in Business are different than BFFs! When you are buying or selling a home, you want some key attributes in your next Denver Realtor. Sure, you want someone who can be fun, but also a professional, but not always boring. Here are some things you should look for:

TRUST: Any inkling that this person is just telling you what you want to hear should cause you to run away. You need the confidence that what you say is confidential and, like a doctor, only used to help you.

EXPERIENCE: 30 plus years here in Denver can help you understanding the challenges you might face: aluminum wiring; an older roof; that trampoline; an estate; even a basement full of model trains. What do you do? Those are answers I can help you with.

REACHABLE: When you have a question, how quickly does he get back to you? Or does he answer his calls? I hate voice mail, so I would rather answer the call and, if I can, answer the question or get back to you with the answer. I appreciate that level of service too.

PERSONABLE: Do you feel comfortable talking to this person? Or do you feel rushed? You need to feel free to ask questions, and he needs to understand what you want to know, and why.

INTEGRITY: They either have it or they don’t. You want a Realtor who has it. GO to This Denver Realtors standards page

NEGOTIATING SAVVY: Sometimes a clue presents itself in the way the other guy breathes, or talks. I might even know them from past deals here in Denver. Either way, you want someone who can drill down and get to the important items for you and the buyer, to make sure the right deal is done.

BROKER OR ASSOCIATE: A broker runs his office & company and broker  associates work for him. So who do you want to work with? The boss or someone who has to “check with my broker?”

LOAN KNOWLEDGE: Who will buy your home? Conventional, FHA, VA? Can you do seller carry terms? Do you want to? This is all part of the buyer demographic that suggests who your buyer will be and that I can then target.

MARKET KNOWLEDGE: Does this person understand my neighborhood? What trends and prices are happening here? And the bigger picture? Today’s world of computers allows us to be able to give you a run down on all of the above quickly.

BUYER’S AGENT/SELLER’S AGENT: Both is better so look for someone who offers a perspective from both sides…like what do seller’s expect today in Denver? Or what can a buyer do to enhance an offer? If you see both sides regularly it can help answer the questions.

TURKEY DINNER: Can you imagine buying a home in Highlands Ranch or Denver with a friend or relative who blew it, and then listening to them tell everyone at the picnic or other gathering what a great job they did for you! It could change your circle of friends! (go back to the first item and review).

To learn more about Pete Doty, Denver Real Estate Broker, go to about Denver Realtor Pete Doty

 

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Highlands Ranch National Night Out

Tonight is National Night Out from 6:00 pm to 9:00 pm. Highlands Ranch neighbors should turn on your Porch lights and have a stoop party if the block party is not possible!

Highlands Ranch can be a part of celebrating Douglas County Sheriff’s Office service to the community by participating in this nation-wide event that will bring the citizens of Highlands Ranch together with law enforcement and emergency service providers to participate in a night of food, fun, and crime prevention!

The purpose of this event is to reduce property crime in our Highlands Ranch Neighborhoods through our neighbors getting out of their houses, turning on their porch lights, and getting to know each other in a social environment as well as local emergency service providers. This happens through neighborhoods hosting block parties or even impromptu stoop parties, which can be attended by deputies and employees from the sheriff’s office, fire personnel from local fire stations, and other special guests.

Even though the night is fun filled, remember to be safe and practice good crime prevention by closing their garage doors, locking doors, and turning on their porch lights. In Highlands Ranch we can only watch out for each other if we know each other. It is time to reach out and say “HI”.

Check out Denver Relocation.

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Is this the person to represent you selling your Denver Home

Denver House for sale…this description is visible online… I saw this on a new property listing today in the Denver MLS…

“Seller did not have time to complete the repairs before they went on vacation”.
or read…”Hey Bad guys! No one is home. Come empty my house! And here is the address”.

Denver real estate is wonkie enough and  lots of weird things can happen, we do not need to add to the issues. Experience tells me to NEVER publish this kind of information because your security is paramount. What happens is newer agents get excited and want to show their value and they just say too much, especially when it is a friend who has chosen them to sell their Denver Home.

Something I am seeing more often than I care to admit when I am out showing properties to clients in Denver are un-escorted buyers leaving the property. I try to challenge them and ask for a card so I can see they are in fact Realtors, but you just know they are not. We cannot control what folks do once they have the lock box combination, but again experience allows me to track everyone who has had access to your home.

Unsolicited advice here: when you want to sell your Denver Home, get an experienced professional, not your best friend! That is, unless you want your house cleaned…out! Hopefully that will not happen.

To learn more about Pete Doty, Denver Realtor, go to About Denver Realtor, Pete Doty

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Strategy & Experience help in Denver real estate market

Denver real estate market Denver Realtor Pete Doty

7 days Denver real estate market

The Denver real estate market causes me to meet Denver home owners who have been thinking of moving, yet their number one concern is finding something they want to move into. I certainly understand that concern as the inventory of homes to buy is limited, but experience has taught me a few tricks that can help that seller make the right deal so they can take more time to find a place than they might expect. Back in the day, I even had a lady take an around the world cruise while waiting for her new home to be ready!
I have to tell you I am seeing indicators of the market softening in favor of Buyers; it is not going to happen overnight though. As an example, weekly there seem to be more homes coming on the market either through new listings or as back on market listings than those that have gone under contract (see below). The Metrolist (REColorado) data seems to support this contention on a monthly basis as well.It appears we will have much more price inflation in Denver’s real estate market than I expected earlier this year. So far we are between 10 & 15% increase in value throughout the city, while homes in certain price ranges are “flying off the shelf” notably between 150k and 400k. The cool part of this is that the sellers set the terms for price as well as possession because there are so many buyers wanting the same property so the seller can negotiate with the best buyer. We can talk with no obligation about your Denver or suburban home in Highlands Ranch or Littleton as examples, or if you are relocating to Denver, what your plan of action should be. 30 years experience (I have seen the highs and lows before) can help you make the right real estate deal for you in Denver.

Please check my main web page at https://www.denverrelocation.com for more information about your next Denver Realtor.

 

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Denver – Too expensive to Sell???

The other day I was surprised by a young man’s comment that it would be too expensive to sell a house in Denver because he would have to go buy another home. His logic is that prices are up and it would be hard to get a better home than what he owns currently in the Southglenn area. He knows he needs to make a move because the family is growing and they need more room.

As I thought about it he could be right, yet I asked myself “when will there be a better time?” Prices in Denver have accelerated to the point that average sale prices are up 11%  to $361,953 from 2014 and median sale prices are up 15% to $314,000. Interest rates are the best I remember since I bought my first house in 1972 at 5.75% (today is about 3.5%) and, as always, are projected to go up.

So is it too expensive to sell a house and buy one in Denver today? Or is the opportunity going to be better next year? Lets try to answer that…

Next year a house worth $300,000 today should be worth about $330,000 or 10% more. Using 20% down payment a $240,000 loan at 3.5% interest rate today would result in a principle interest payment of about $1077.

Next year that $330,000 house will require a $264,000 loan at maybe 4%  and a principle and interest payment of $1260 for the same house!

So waiting to replace a home in Denver (you “know” you need to) will cost you an additional $6000 down payment, $24,000 in loan amount and $190 per month.

If I wait to sell my $200,000 house it will be worth more next year! True, but compare that 10% of $200,000 is $20,000 where 10% of $300,000 is $30,000, so by waiting you lose $10,000 of buying power.

Why would you “need to make a move”? Well what I typically see is folks want a different school district; there are more kids on the way so the house is too small; the kids have moved out so now the house is too big; there is a divorce; there is a marriage; or there was a promotion and we can afford it.

So my self serving yet thoughtful response is that if you can do it, you are better off today than next year. What do you think?

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Competence + Experience + Trust = the right Realtor

Competence: You expect this because the State of Colorado issues a license to a real estate broker that assumes they “know” what they need to. And they may know the law, but in reality the business is so much more complex today. True competence comes from experience plus training. Every real estate broker is required to complete continuing education courses each year to renew their license. In my mind just doing the required continuing education courses is not enough as there is additional course work which is beneficial both myself and you, my client. The Colorado Department of Regulatory Agencies issues and monitors the real estate broker’s licenses and their CE credits before they allow a renewal.

Experience: It may take years and years to acquire yet it can be accelerated with designations, advanced training as well as transaction volume.  However, every deal has it’s own twists and turns that require the knowledge that can only be obtained by being going through that situation. Just as the “experience of life” teaches you that fire is hot, sometimes the only way to recognize a pitfall is to have seen it before. Experience plus advanced education and “personal” transaction volume is what to look for. Some designations you want to look for are GRI, CRS, CNE. There are many more.

TRUST: It should be a foregone conclusion that you trust your real estate professional, but is that a matter of salesmanship or one of confirmation? Trust is built upon statements that are verifiable, so the answers you get need to line up with what you already know. One of the benefits of dealing with a Realtor® who is a member of the National Association of Realtors® is that you already know  they subscribe to the Code of Ethics and re-affirm that every year as they re-new their membership. A real estate broker who is not a member of the National Association of Realtors® cannot display the logo:

REALTOR_Logo

 

BUYERS Agent or SELLERS Agent or BOTH?

YES, I can represent you as both the agent to sell your home in Littleton and as your representative to Buy your new place in Denver. As the broker/owner, as well as the  managing broker of my own company, I can choose who to work with and in what capacity. There is no conflict of interest unlike what may occur in a larger firm. Therefore I can assist you in making decisions that will help you make the most economic sense out of the transaction. I will often say that “in this way you will always know what side of the fence I am on…yours!”

KNOWLEDGE of the neighborhood: The words “neighborhood specialist” is an advertising effort by a local real estate agent …they are farming for your business. When I first started in the business I “farmed” Cherry Creek Vista in Englewood. An experienced Realtor® will present you with the facts of today’s market, not just in your neighborhood but also in the surrounding area, and assist you in identifying those critical features of your home that help make it more valuable to the buyers. And while reviewing the market facts will help you develop a strategy that will maximize your homes exposure while reducing the inconvenience of having a home on the market. Often it is the places and people who make up your community plus an un-teachable sense of where the real estate market is going that makes the job of Realtor® seem easy.

Representing a Seller is in large part helping the Seller set a price for the market. It is interesting that homes can be priced per the appraisal, which looks back in history, or by a Realtor® who is obligated to not just look at history but to know the current trends to help you price your home. If more foreclosures are coming on the market that may push prices down while more Buyers tend to push prices up. Some folks use the “my house is worth more than theirs was, because…” pricing approach, which often cause longer time on the market. A real estate broker who accepts that pricing premise needs to be vetted further on his pricing matrix.

The BUYER’s Agent uses similar skills to determine what may be a good offer price for a home or even where somebody might like to live. While much of that decision is based upon the Buyer’s financial abilities and desires, some of it might be decided upon leisure activities or on a work location for the Buyer. Knowing there is mountain biking on Green Mountain in Lakewood is one thing, but folks Relocating to Denver might not know about Dinosaur Ridge or even the old ghost towns above Idaho Springs and Georgetown making the location decision easier. Yet “screwing down” into a neighborhood’s current listings, recent sales and properties under contracts can make for a much clearer pricing picture for the buyer.

I WANT A REALTOR WHO IS HUNGRY! I used to describe myself that way until I realized it made me sound 1. Desperate: and 2. Like a rookie. Neither one is good for the client because the desperate agent may inadvertently negotiate away some of the client’s benefits while the rookie was just being “helpful”.  A Realtor® who can disassociate themselves from the outcome of the negotiations can be a much more effective advocate for their client than someone who is relying on this closing for a house payment.

Why did I take the time to write this? Well, sometimes there is a little kernel of doubt as to whether the person you are currently interviewing or thinking about hiring to represent you in your next Denver real estate transaction is in fact the right person for the job. I often find folks want a 2nd opinion as to pricing or marketing style. It would be my pleasure to sit and visit with you to show you how I work.

 

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Denver real estate predictions for 2015

DENVER HOME PRICES will continue going up but not as quickly as the last year. ONLY 3-5%. In 2014 Denver had a couple of “pocket neighborhoods” where prices had been severely depressed and the sales of homes were inhibited early in the year with appraisals not meeting the contract price. Later in the year the prices in those neighborhoods “caught up” with the rest of the market however because the prices had been so low their catch up inflated the appreciation rate being reported. The average sale price increased in December 2014 over December 2013 to $339,636/ from $305775 or 11%.
AVAILABLE HOMES TO BUY will increase. This is part of what will slow the PRICE increase and there is good news – bad news here. The price of oil in mid 1984 went from about $35 per barrel to about $15 per barrel; that is when I got laid off from the oil business. We have seen a similar reduction percentage wise and we have a large number of office workers who support the oil field in Denver. They may need to sell their homes and relocate, and just as in 1984, prices are high so it may just work out for the Denver economy. Let’s hope we add just enough homes to the market to make for steady, versus explosive growth. Active Listings decreased in December 2014 over December 2013 5352/7347 or down 27%.
DAYS ON MARKET WILL INCREASE because of the increase in inventory of available homes. While our blistering hot 37 days on the market is great for sellers, a balanced market of 90 days on the market is better for all.
OTHER MARKETS LAG DENVER as in the 1980s’, Denver led the way and we see a similar path today. My Realtor friends from across the country keep me up to date.
As always your neighborhood will be specific to you and the demographics of the current buyers and sellers. It would be my pleasure to visit with you about these predictions and what is going on wherever you might want to move to.
Littleton residents: The special election on March 3rd needs your attention…please vote NO on 300 and yes on 2A. Both are redevelopment issues.

Denver Relocation

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Fall lawn care in Denver

Here is an interesting article from the National Association of Realtors that pretty well fits Denver’s grass growing seasons, and why it is important to fertilize in the fall.

I will make a personal comment though about mulching the grass in our south Denver community… if it is so good why do we power rake in the spring? Our grass clippings and leaves simply do not decompose as quickly as those in a more humid climate. They stay dry.

In Highlands Ranch I do use those leaves after being bagged in my mower along with the last couple of mowings, for mulch around my roses.

Check out the story and let me know if you agree with it for Denver: http://www.realtor.com/advice/make-break-season-lawn-care/

Check out Denver Relocation.

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