We've got READY BUYERS!!

BUYER NEEDS!

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Please contact Nicki’s office at 303.456.2128 should you know of something new coming on the market or if you would like a value of your home!

Arvada, Wheat Ridge, Lakewood, Golden (north of 6^th Ave.)

·      375,000 – 4 bedrooms – prefer a ranch – updated with central air – ready to buy now!

·      $350,000, 3+beds, 2+ baths, prefer 1+car garage – likes Applewood

Arvada to Broomfield: 

·      2 story or ranch, 5+ bedrooms, 2+ baths, $375,000  Arvada to Broomfield

Arvada, Lakewood, Denver:

·      Townhome/condo 2+ beds, 1+ baths, up to $110,000  must have washer dryer hookups and AC

·      Contemporary home, with a view preferred, Applewood area, $750,000 with unique features

Arvada, Lakewood, Westminster

·      Townhome, 2+ beds, 2+ baths, close to amenities and shopping, olde town or Belmar, $190,000

Arvada

• ·      Townhome/condo in Olde Town Arvada up to $200,000 1+ bed, 1+bath
• ·      Detached home, great backyard, up to $350,000, 3+beds, 3+baths, 2000 square feet finished, south of 82^nd in Arvada
• ·      Detached home, 3+ beds, 2+baths, would like unique area, no cookie cutter homes, $330,000

Lakewood, Edgewater, Denver

·      $230,000, detached single family, finished basement or mother-in-law suite,  2+ beds, 2+ baths

North Jefferson County: 

·      $750,000, would prefer 5 acres but 2+, zoned agriculture

Thornton

·      Detached, 2+ beds, 1+ bath, needs large backyard with privacy fence  $200,000

·      New Townhome, $250,000

ARVADA - Why its the new "hip" place to raise a family!

New Commuter Rail 
Trendy Olde Town
New Parks and Open Space
A face lift for the Arvada Triangle
A Surge in Residential Development
CO's Top Ranked Schools
A Respect for History
A Love for the Arts

All combine to make Arvada the "hippest" new suburbia in all of Denver! 

The Commuter Rail

• As a requirement by the Union Pacific Railroad, the commuter cars will be the same size as train cars, larger than those of the current light rail system.
• 15 minutes!  The longest time you will have to wait is 15 minutes before another commuter comes your way!
• Noise:  the city has spent the extra money for "quiet crossings" - no train horns just the gate noise coming down.  Fewer joints in the tracks will allow the trains to glide along the tracks with less clacking noise for residents and a smoother ride for passengers
• Access to the commuter rail will always be on the north side!  parking may be south of the commuter rail but with well-designed and slick looking bridges or underground tunnels for passengers for ease and safety.
• Estimated hours of operation:  6:00 a.m. to midnight!
• Opening Day:  Spring of 2016!  (on schedule)
• From Denver Union Station to Ward Rd Station:  25 minutes!

The Commuter Rails Stations

Olde Town Station:

• 4-Level Parking Garage behind movie theatre - 650 parking spaces for both Olde Town Shopping and Commuter Rail passengers
• Bridge will go from parking garage to north side platform
• This will change the skyline of Olde Town Arvada!

Park Place in Olde Town Arvada: 

• 5 Story Apartment Building
• 153 units, 1-2 bedroom apartments
• the building will front McIlvoy Park
• Located on the south side of Ralston Rd and just west of Wadsworth Blvd.

Candelas

• Development in the northwest corner of Arvada  (north of 82nd and west of Indiana)
• City of Arvada has secured enough water for the future growth of Arvada but they may not be able provide the water at the current growth rate of residential properties
• NO PLANS TO WIDEN INDIANA (from 64th to Hwy 128) - the city is currently through a fraction of the new Comprehensive Plan.
• Jefferson Parkway - a highway that will complete the 470 circle - rough planning stages - currently needs more funding.
• Commercial and convenience shopping are in the initial phase and are beginning to break ground.

Ralston and Independence - The Triangle

• New Shopping Center
• New Ralston central Park
• Lutz & Stenger Sports Complex

The above information is deemed reliable but not guaranteed.  All plans proposed are subject to change.

New Property Assessment Values for 2013

 

 

New Property Tax Assessments

Jefferson County and more...

All information can be found on the Jefferson County Assessor's website:  http://jeffco.us/assessor/index.htm

Important Dates

May 1st  -
Assessor mails a Notice of Valuation annually to real property owners along with an appeal form.  The assessor also gives public notice to all taxpayers concerning their right to appeal the value placed on their property.

May 1 - June 1st - very short time period!

Real Property Appeal Period - If you disagree with your property value, you have the right to file an appeal at this time.  These hearings are concluded by June 1.  The Assessor must send the taxpayer a decision by the last working day in August.

July -
If not satisfied with the Assessor's decision, file an appeal by September 15, 2013, with the County Board of Equalization, which begins hearings on September 1st.

August 25th - 
 The Assessor certifies the current total assessed valuation to each taxing entity in the county.

How to Appeal Your Real Property Valuation

http://jeffco.us/assessor/assessor_T80_R8.htm

This link will help:  1) Appeal Options   2) How to appeal an Assessment  3) What to expect

Data used to Determine Value of Assessment

The assessor will use data from July 2010 - June 2012 to determine value for 2013's assessment.
The data that you will need to submit for the appeal will need to be for that time period as well.

Where to Obtain Data to Appeal Assessment

Contact my office directly and we can help gather data to appeal your case.

Nicki Thompson
RE/MAX Alliance
303.456.2128
nicki@nickithompson.com


All information deemed reliable but not guaranteed.  Data obtained from Jefferson County Assessor's Page as of January 7, 2013.

When is the right time for a price reduction?

A price reduction is determined by 3 factors:

1.  Neighborhood comparable sales (comps)
2.  Time on market (number of days)
3.  Showing activity

In the Denver Market:

1.  Your agent will gather this data and compile monthly for you to review.
2.  Average Days on Market for Denver Metro Area is 78.
3.  Average Number of showings before acceptable offer is 14.

The "norm" for a typical selling market over the last 5 years has been under 24%.  A 24% chance of selling your home based on what is currently available compared to number of homes that sold that month.  In 2012, the "norm" began at 24% and has been over 40% for the months of  May - August & now October.  The odds of selling your home, even in the 4th quarter, are very high.  Price is critical in capturing a buyer in today's market.  The odds are in the homeowner's favor if the house is priced right.  Continually review and analyze the data on a monthly basis.  The market will always reveal the target price.

Summary of October's Stats:

October 2012

Monthly Market Update:  data obtained from Denver Metrolist

                                                                        by Nicki Thompson

Condo Sales:

Total # Sold:  7743 which is up 1,018 units from 2011.

Residential Sales

# sold 2012:  31,464 units

# sold 2011:  26,438 units

We have reached last year’s totals for all of 2011 with 2 months remaining.

Ave. Days on Market:  dropped down to 78 days

Average Price:  $302,956 (last year, it was 279,858)

A larger percentage of the higher priced homes have been selling this year.

Active Inventory:  8108 homes are currently available

                        Inventory dropped nearly 600 homes from last month.

                                    & dropped nearly 4,000 homes from Oct. of 2011

October’s # of Sold Homes:  3246; up 100 from last month

                                                & up 764 homes from Oct. 2011

The ratio of sold vs. active homes is now at 40%.  For the past 5 years, the highest ratio was 29% until 2012.  During 2012, May-August & October all experienced ratios above 40%.  Even during the 4^th quarter, the statistics are showing very high odds of selling your home.

If you are currently listed on the market, your showing activity should continue to be high.  Statistics show that an average of 14 showings will produce an acceptable offer.   If your days on market is approaching 78 or if you have had over 14 showings on your property, a price change is strongly encouraged to take advantage of the current market conditions.

Low Interest Rates mean Big Advantages!! (RIGHT NOW)

Rates are low.  We all know this and we have heard the advertisements on the radio "historical lows", "now is the time to buy or refinance", and "purchase power".  But what does all of this mean for the consumer?

Below you will fine 4 scenarios of fictional individuals who are taking advantage of today's rates:

Bill = Move-Up Buyer;  Sally = First-Time Home Buyer;
Rick = Investor Buyer; & Jane = FHA Assumable Loan Buyer

MEET BILL

FHA Loan buyer wanting to stay under the Jefferson County limit of $406,250.

If he purchased today, his rate would be at 3.375% for 30 years fixed rate.

If rates went up to 6% and Bill wanted a 30 year fixed rate, his payment would go up $640 per month increasing the loan amount by $145,000!  Same house, same price, but with different rates; Bill saves $7680 per year by purchasing a home now....

MEET SALLY

Sally is first-time home buyer.  She went to her lender and they qualified her at $200,000 purchase price at a rate of 3.375% fixed for 30 years.  Let's say that Sally decides to wait on purchasing a home and rates are now at 6%.  The difference in Sally's payment would $315.10 per month or a loan amount of $72,000.  She now qualifies for a max purchase price of only $128,000.

MEET RICK

Rick wants to purchase a duplex which is listed for $325,000.  A duplex or up to 4 units requires 25% down payment.  At $325,000, 25% down, 4% rate fixed for 30 years, principal and interest = $1164 per month.  It is now 3 years from now and Rick would like to purchase that duplex after all.  If primary rates would go up to 6% then investor rates will be at 6.5%.  The new payment if rates went up to 6.5% would be $1540.67 per month.   Rick would have an increased cash flow of $376.67 a month or an equivalent of $4,520.04 a year if he purchased his investment now at the low rates!

MEET JANE

Jane purchased a home in 2012.  She had an FHA loan at 3.375% fixed rate.  Eight years later, Jane decides to sell her home.  She can now offer the new Buyer an FHA assumable loan with their purchase.  She has an added "selling bonus" that her neighbors can not offer.  She can offer the new Buyer her loan at 3.375% instead of today's rates of 6% (saving them money each month!).  The potential buyer MUST qualify FHA and qualify for the home, but this will be a strong tool for re-selling your home in the future!

As always, if you have any questions about the above information, please contact myself or your preferred realtor of choice.  Please also remember that the above scenarios are fictional individuals with good credit and income.  Each situation is different, but these examples are meant to only show the advantages of purchasing a home with today's rates!    

Buyers Beware...USUALLY NOT NEEDED!!

If you receive a letter asking you to send payment for a copy of your grant/deed....please know that its not necessary
Some of the sample letters that we are receiving from our clients who have just closed on their new home are from:

RECORD RETRIEVAL DEPARTMENT - 1550 Larimer St.  Denver 80202
or
SECURED DOCUMENT SERVICES - Washington, DC
or
LOCAL RECORDS OFFICE - 1550 Larmier St. #302, Denver CO 80202

They use verbiage such as:  "deed retrieval services", "final notice", "Jefferson County Public Fee", "Deed Processing Notice", "a service used to obtain copy of your closing documents", and my favorite, "Compliance Response Date."

Please be careful as you comb through your mail as a new homeowner.  There will be important information that you will be receiving but it will be from the county, title company, or lender.  And if you have any questions, don't hesitate to call your agent for further information.

Frustrated Buyers..."Are you kidding me?"

Historically, as the summer months begin to approach in Denver, the number of homes on the market starts to increase.  However, the Denver Market and especially the Arvada market has decided to change things up a bit.

As the demand increases due to low interest rates and higher rental rates, Buyers are beginning to get somewhat frustrated.  Properties that have been on the market for 3 months or more are beginning to get snatched up by the market.  If you are not one step ahead of the process, Buyers are missing out on the properties they want and wait for more properties to come...only...they are not coming!!

For whatever reasons, homeowners are not selling.  Bottom line:  if you know of anyone who might be thinking of selling, you may want to encourage them to strongly consider putting their home on the market.  If you see mailings sent to your mailbox that say "I HAVE A BUYER FOR THIS NEIGHBORHOOD"; they probably do! 

We have buyers who are wanting to move into:  Spring Mesa, Tablerock, West Woods, Ralston Valley, Sierra, Oak Park, Allendale, and different condo complexes.  The prices are from $80,000 to $750,000. 

Maybe it's time and maybe it's not....but either way; it's worth a shot!