Infographic: December 2014 Market Update for Lower Highlands

Lower Highlands - Denver, real estate infographic

 

Lower Highlands continues to be one of the most desirable neighborhoods in Denver. As 2014 comes to a close, so do numerous new construction projects in the area. Projects that began last Spring will be delivered over the next few months bringing a new wave of residents into the area, increased support for local businesses there, and continued community development.

 

16 new listings came on the market in November, ranging from $265,000 to $989,000. Of these listings, 163 are new construction that is yet to be completed. This is a great representation of what we have been seeing in the Lower Highlands market, with a large number of new builds to be delivered in 2015. Price per square foot in this neighborhood is on the rise as well. From scrapes to high end new construction, the average price per above grade square foot is well over $260.

 

While the sales of single-family homes have increased each of the last three months, the number of condos or townhomes sold have moved in the opposite direction. In the next few months, I would predict that the number of townhomes sold will outnumber single-family homes sold as the new builds are delivered. In line with that point, the average number of days on market is likely to decrease as well, when fewer listings are on the market or under contract for up to a year as construction takes place.

 

Prices in Lower Highlands continue upward as several high-end new construction projects come to fruition. Prices above 800,000 are becoming more common in the area and listings below 350,000 become more rare.

 

While inventory remains low, and buyers continue to search for the right home, this is a great time to list in Lower Highlands.

Big Apple, Picket Fence, or Green Acres?

If you live in a tiny house, you do not have to decide whether to be a city mouse, and country mouse, or a suburban house. The house can go on a trailer to anywhere. But most home buyers are a bit more conventional, and have things like family size, jobs, and lifestyle preferences to consider.

Choose an urban location, and the city is at your fingertips. Coffee shops, restaurants, mass transit, job possibilities, and schools either lie nearby or can be reached via established infrastructure with relative ease. The urban cultural scene can’t be surpassed, for it is to cities that artists, musicians, and actors flock, knowing that the best opportunities and biggest audiences lie there. Live on a lake or an ocean, or up against the mountains, and you have open space, too. Urban real estate is a great investment, as they offer new homeowners all the occupation and living options that big cities encompass. The downside is the noise and less personal space, but for city people, the buzz far outweighs the disadvantages.

Choose the suburbs, and you find more personal space. Houses have real yards for children and dogs; neighborhood associations proliferate, and a sense of community seems to come with the house package. Remodeling can increase the square footage and tailor the structure to you. School choices abound and offer their own communities. Suburbs are rife with parks and bike paths, so the great outdoors is yours. Of course, the commute to shopping and work can be a bit of a bear. These houses are particularly popular among homebuyers, particularly those with new or growing families, so it’s a safe investment.

Like your solitude and the great outdoors? Want to grow your own veggies, own animals, and enjoy clean air? Tired of the rush of development? Rural property investment comes with peace and quiet. Often one can either build new on an open lot, or remodel a farm, barn, or historic building. Although community isn’t as readily apparent, people who bond over living in open land form close ties.  The market for these houses is a discriminating one, with perennial interest and limited availability, making it a great investment.

According to city-data.com, Highlands is an urban neighborhood, a great place to invest in a home. And you won’t need to BYO tiny house ….

Weekly Snapshot: Highlands Dec. 11 – 17

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 3

Sold – 7

 

West Highland

New Listings – 4

Sold – 5

 

Sloan’s Lake

New Listings – 3

Sold – 7

 

Sunnyside

New Listings – 1

Sold – 6

 

Berkeley

New Listings – 2

Sold – 1

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.

 

2018 Osceola St: A Done Deal in Sloan’s Lake

2018 Osceola Sloan's Lake (1)

2018 Osceola St, Denver, CO 80212 was just evaluated in the Sloan’s Lake neighborhood in Denver. Was this a good deal? Our 8z Neighborhood Expert, Brenda Meyers, knows and dishes the scoop on this recently sold home.

 

Listed at: 729,000
Sold for: 720,000

 

I bet the new owners of this home are smiling! Originally listed for a higher price, this beauty with gorgeous views was listed at $729,000 and purchased for $720,000. I really don’t know why this home wasn’t purchased sooner and for a higher price. I do know it went under contract a couple of times prior.

 

This home was built in 2006 and takes advantage of the views of the mountains and Sloan’s Lake. Eco/green features are present, but there are 3 levels above grade and one below, so maybe it is a problem for many with the 4 level living. If you don’t mind the stairs, this one is a beauty and now has new owners.

 

Need a market expert’s assistance? To see homes in the area contact 8z Realtor, Brenda Meyers, at 303 883 5856 or brenda.meyers@8z.com.

 

Have you viewed the home above? Do you agree with Brenda Meyers? Let us know! Please feel free to submit your comments below.

 

3217 W. 20th Avenue: A Done Deal in Sloan’s Lake

3217 W 20th Ave (1)

3217 W. 20th Avenue, Denver, CO 80211 was just evaluated in the Sloan’s Lake neighborhood in Denver. Was this a good deal? Our 8z Neighborhood Expert, Brenda Meyers, knows and dishes the scoop on this recently sold home.

 

Listed at: 400,000
Sold for: 395,000

 

 

This home took quite awhile to sell. Originally listed June 2 at $415,000 it took til November to find a new owner…. after price was dropped to $400,000, The buyers also received a $5,000 seller concession.

 

 

This bilevel home built in 1977 isn’t a typical home for Sloan’s Lake. The homes that are snapped up more quickly are historic homes either needing renovation or that have been nicely updated already, or the scrape and builds or pop tops. So this home felt dated, especially from the exterior, while the interior was ready to go with 4 beds and 2 baths. Lots of off street parking in addition to the garage. Good value!

 

 

Need a market expert’s assistance? To see homes in the area contact 8z Realtor, Brenda Meyers, at 303.883.5856 or brenda.meyers@8z.com.

 

Have you viewed the home above? Do you agree with Brenda Meyers? Let us know! Please feel free to submit your comments below.

 

Infographic: December 2014 Market Update for Sloan’s Lake

Sloans Lake - Denver, real estate infographic

 

No surprises here! Sloan’s Lake community is still clearly a sellers’ market for sure. Listings priced correctly are selling very quickly indeed. Viewing the 3 month Infographic you will see that October and November picked up from a slower September. A slow Sept. doesn’t alarm me at all, as buyers and sellers are busy with summer vacations in July and August meaning that fewer transactions close in Sept. If you recall, I have been sharing that some listings have been far too aggressive in pricing too high and so they have sold after price decreases and time, time wasted. So the lesson here is the same… price fairly and the deal is almost a guarantee!

 

Current inventory is 59 listings, of which 25 are under contract. The remaining listings, 34, consist of two investor/development properties at 1938 Grove St for $2,250,000 and 1945 Federal St for $1,925,000. Single family homes begin at $1,099,000, which is a 3900 fin sq foot beauty at 2210 Meade Street and the lowest priced listing is a modest shot gun style row home at 3054 W 24th St. for $215,000. Only 4 of the 34 available listings are below $400,000 – WOW! Of the 34 available properties, 2 are developer sites, and only 16 are older homes, meaning that 18 are new or newer. So much scrape and build is continuing to happen in Sloan’s. Many of the older homes look brand new inside!

 

The take away is that Sloan’s Lake continues to be valued real estate for families, empty nesters or singles. So much diversity in style, space and size.

 

The redevelopment of the prior site for St. Anthony’s Hospital is going strong. It is so exciting to know that the new site will include retail and many new homes. More at large – Colorado has grown even stronger economically so hold on to your hats as this super ride of a sellers’ market will continue into 2015!

 

Price your home aggressively, but fairly, and it will sell. Winter is still a great time to buy or sell. Buyers will find less available, but less competition from other buyers and Sellers will find that those that are out looking during the winter are usually much more serious buyers.

 

Follow on Facebook at Highlands Pulse!

 

 I am only a call or email away from providing you assistance. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the neighborhood. You can always reach me at 303.883.5856 and Brenda.Meyers@8z.com.

Weekly Snapshot: Highlands Dec. 4 – 10

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 5

Sold – 3

 

West Highland

New Listings – 1

Sold – 5

 

Sloan’s Lake

New Listings – 1

Sold – 5

 

Sunnyside

New Listings – 0

Sold – 1

 

Berkeley

New Listings – 1

Sold – 2

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.

 

Quick Tip Tuesday: 5 Fireplace Upgrades

As winter approaches, you might start thinking about using your fireplace if you’re in a colder climate. Before it get’s too cold out, here are 5 fireplace upgrades to make it something special.

 
 

1.  Install a Mantel

Sharp, detailed models come in kits that lock together with a few twists of the Phillips-head. You can have a whole new look in less than a day.

 
 

2. Tile the Hearth  

Consider jazzing things up with some colorful new tiles. You can change the whole look of a fireplace—and the room

 
 

3.  Tile the Surround

While you’re at it, tiling the surround is a great way to spruce up a fireplace!

 
 

4. Granite-Slab Surround is another option

And might be quicker than individual tiles.

 
 

5.  Tin-Tile Surround

Why not use the same unique tin tiles that adorned their kitchen backsplash for the surround? In total, the project took only a few days—but the result will look cozy all winter. 

 

 

 

See 12 more Fireplace Upgrades over at This Old House

Infographic: December 2014 Market Update for West Highland

 

West Highland - Denver, real estate infographic

 

Hello friends and neighbors of West Highlands- The activity for November remained strong in the neighborhood. I predict a strong 4th quarter and one that may buck the trend of the traditional “seasonal slow down.” I am working with and hearing from buyers who want to look in the “off-season” to avoid a more competitive spring buyers’ market. This is is a good sign for sellers wanting to list now. This less competitive market idea can also work for sellers; there is typically less inventory now, which will make your property as a seller stand out.

 

Now let’s look at the numbers:

 

Active: Currently we have 41 active properties on the market in West Highlands. With a high list price of $1,195,000 to a low of $240,00 and a median of $565,000. The average price per square foot above grade is $356. The “total” price per square foot (this includes basement square footage) is $268.

 

Under Contract: Currently there are 18 under contract properties on the market. With a high price point of $765k and a low price of $160,000.

 

Sold: There were 21 sold transactions in November. The high sold price was $765,000 and the low sold price was $185,000. The average sold price per square foot above grade was $356 and the average “total” price per square foot was $255. Average DOM Days On Market was 48. Average sold list price was $515,856. The average sold price was 97% of list price.

 

In summary don’t be hesitant to list your home in the winter months. This could be a good opportunity to stand out in a low inventory market.

 

Weekly Snapshot: Highlands Nov. 20 – Dec. 4

DenverSnapshot

 

For information on what’s newly listed or just sold in your neighborhood, click on the link below.

 

Lower Highlands

New Listings – 3

Sold – 12

 

West Highland

New Listings – 9

Sold – 7

 

Sloan’s Lake

New Listings – 2

Sold – 6

 

Sunnyside

New Listings – 2

Sold – 7

 

Berkeley

New Listings – 2

Sold – 5

 

Have any questions? You can reach us at 303-543-3083 or clientcare@8z.com.