A Robot Might Buy Your House

Nykki Gallegos Buying, Selling

“Sell your home, skip the hard parts.” That was the headline on the one-page flyer that arrived in a friend’s mailbox the other day. You may have received one. It was from a company that offers to buy homes for cash directly from an owner. Quick close. Avoid the supposed hassle of putting it on the market. Companies like this are …

The Rear View Mirror and the Windshield

Nykki Gallegos Buying, Market Trends, Selling

Do you have a road trip that you take repeatedly? Heading over to Sturgis on the Harley? Trundling off to Lake Powell? If so, you are familiar with the waypoints. That place you stop for a milkshake. A noteworthy view from a mountain pass. The historical marker where someone famous did something noteworthy at some time in the distant past. The …

Buying and Selling in Uncertain Times

Nykki Gallegos Buying, Selling

It is 1979. Oil prices are skyrocketing as the American hostage crisis in Iran begins and the Middle East is plunged into more turmoil. Brenda Spencer opens fire at a school, killing 2 and wounding 8. When asked why, she stated, “I don’t like Mondays.” McDonald’s introduces the Happy Meal. Los Angeles passes an ordinance to protect the civil rights …

Save Money with Energy Efficiency

Nykki Gallegos Buying, Selling

Good news on the energy efficiency front related to residential real estate: homes have become much more energy efficient!  In 1978, all residential properties consumed 10.58 quadrillion Btu. In 2005, the number stood at 10.55 quadrillion Btu. That may not seem like any progress at all until you realize that during that time frame: The average square footage of a house increased 32%. Only …

Understanding Market Shifts

Nykki Gallegos Buying, Market Trends, Selling

We’re seeing lots of news recently about a shift in the metro Denver residential real estate market. It’s true! The market IS shifting. However, the portrayal of this shift as reported in the popular media and even by many industry sources contains only a drop of truth in an ocean of misinformation. LET’S UNRAVEL TRUTH FROM FICTION. Most of the …

Smart Buying and Selling Strategies for the 2nd Half of 2018

Nykki Gallegos Buying, Market Trends, Selling

There is a seasonality to residential real estate sales and there are both myths and realities in connection with this phenomenon. One myth is that most resale home transactions occur during the first half of the year. That is dispelled by the chart shown here.   On average, the distribution of closings per quarter is 19%, 29%, 29% and 23% over the last …

You’re Being Targeted

Nykki Gallegos Buying, Selling

THE TERMINATOR In the movie Terminator, Sarah Conner is targeted for assassination by cyborgs from the future. Machines of the future have rebelled against their creators and are seeking to eliminate human beings from the face of the planet. They are on the verge of succeeding. The only man standing in their way is John Connor, son of Sarah. The robots …

Case-Shiller Agrees with CHR on Home Price Appreciation

Nykki Gallegos Buying, Selling

We’ve heard it several times in the last two days so maybe you’ve heard it too: The Case-Shiller Home Price Index put out by Standards & Poor/Core-Logic shows home prices are up 6.4% nationwide compared to one year ago. You may not have heard that this is the 72ndmonth in a row that the index has been positive. According to …

Protect Yourself from Rampant Wire Fraud

Nykki Gallegos Buying, Selling

Imagine this scenario: You’re buying a house. You get an email from your real estate agent telling you to wire the down payment of $91,000 to a title company right away. She tells you she’s tied up in meetings and can’t talk at the moment and will explain details later but tells you you need to get that money wired immediately …

Metro Denver Economy: Robust and Diverse

Nykki Gallegos Buying, Selling

Rapidly rising prices can create an artificial bubble if fueled by irrational exuberance. On the other hand, a strong upward price trend can be created by healthy market fundamentals. The latter is the case when it comes to home prices in metro Denver over the last six years. The robust increase in home values has not occurred in a vacuum. …

Rethinking Cost vs. Value for Home Remodeling Projects

Nykki Gallegos Buying, Selling

Hanley Wood Media Inc. publishes a study each year in Remodeling magazine on the cost of various home improvement projects and the estimated value added to a property from each project.  The study provides a wealth of information and is well worth downloading, which you can do from the website costvsvalue.com. The download is free, but you’ll have to provide them …

Millennials, Baby Boomers and Real Estate

Nykki Gallegos Buying, Selling

Millennials vs Baby Boomers A lot of ink is spilled (or these days, you might say “a lot of gigabytes are disseminated”) on the impact of the Millennial generation on residential real estate. Conventional wisdom has it that Millennials are living in their parents’ basements and are priced out of the market. On the other hand, news abounds that Millennials …