A Buyer’s Market for Luxury Homes?

Nykki Gallegos Buying, Selling

“Inman Connect” is a semi-annual national conference for real estate agents. At the most recent gathering in June of this year, held in the beautiful city by the bay (San Francisco), we heard a lot of discussion about the luxury home market. What is a luxury home? Are different strategies required when you are buying and selling in this market segment? Is …

Don’t Get Burned By Solar

Nykki Gallegos Selling

Solar energy is HOT, pun intended. It’s getting lots of attention these days. Solar is also COOL! A bit of a status symbol & statement to the world that you are “going green”. We’re big fans of solar, in theory. We’re sure that 100 years from now the world will largely run on solar power. It’s the wave of the future. However, it may not …

DISINTERMEDIATION & Your Friendly Real Estate Agent

Nykki Gallegos Buying, Selling

What Does a Good Agent Do For You? You’ve probably never heard of “disintermediation” unless (1) You’re an economist, (2) A complete nerd or (3) You attended the big Inman real estate agent convention in San Francisco earlier this year. We learned about it through option 3 with maybe a dash of option 2 thrown in. Disintermediation is when intermediaries are cut out of …

Agent Talks Client Out of Buying a Home

Nykki Gallegos Buying

One of our agents got an interesting email from a client a couple weeks after closing on a home: “Thanks for all your work on our house purchase – much appreciated!  We are particularly grateful in this case that you kept after us to see the drawbacks of the property on [particular street name] even after we were under contract …

Home Buyers and Sellers Deserve More Than A Salesperson

Nykki Gallegos Buying, Selling

Why does the public think of real estate agents as salespeople? Why does the industry think of itself that way? I suppose it is because we imagine that real estate agents sell houses in the same way that car dealers sell cars. In contrast, we don’t think of lawyers or doctors or accountants as salespeople. Why? When it comes right …

Denver Market: Keeping Pace with 2013?

Nykki Gallegos Market Trends

There are some truths that everyone knows: (1) You don’t tug on superman’s cape. (2) You don’t spit into the wind. (3) Denver real estate prices are moving up strongly due to the low inventory of homes on the market. By now, everyone except Rip Van Winkle has heard a lot of news about Truth #3. So we won’t dwell …

Fewer Home Sales Mask Supply and Demand Patterns

Nykki Gallegos Buying, Selling

Inventory is low … blah, blah, blah. Home prices are rising rapidly … blah, blah, blah. This is the news you’re probably hearing about the current real estate market in metro Denver. We’ve commented on these well-known trends ourselves over the last few months. Here is another current market trend that has received less attention: fewer sales have occurred so …

Landscaping Improvements Protect Property Values

Nykki Gallegos Selling

Real estate prices may continue to go up. They may retreat. However, you don’t have to be the victim of market whims. There are strategies you can employ to protect your property value. Our favorite strategy is landscaping. Why? Landscaping is unlike any other improvements that you do to your property. Improvements like new kitchens or window coverings get dated …

Denver Market for May 2014: Up, Down, Up, Down and Good

Nykki Gallegos Market Trends

The metro Denver real estate market is a story of ups and downs. Both the ups and the downs are good, for the most part.   What’s Up? Prices are up. The average price of single-family homes closed in May 2014 was $370,918 and the 12-month average (June 2013 to May 2014) was $341,464, an increase of 10.72% and 8.63% …

Buying Makes You Richer Than Renting

Nykki Gallegos Buying

We’ve commented favorably in the past on the Trulia calculator that helps you understand the true costs of buying versus renting a home. Now the New York Times (NYT) has weighed in with their version of the rent/buy calculator. Bottom line: Second versus, same as the first. The NYT calculator gives a similar answer as Trulia. Buying beats renting by a wide margin …

Seller Strategies for Finding A Replacement Home

Nykki Gallegos Selling

Right now, sellers can sell quickly and for more than their home has ever been worth in many cases and still have options to implement strategies to protect themselves in case they cannot find an appropriate, exciting or acceptable replacement home. Here are some of those strategies:     Have home totally prepared, ready to go to market, then find …

Another Real Estate Bubble?

Nykki Gallegos Buying, Selling

Is it deja-vu? Have we seen this movie before? The metro Denver real estate market has made a dramatic turnaround — going from a buyer’s market to a seller’s market in short order. With prices rising dramatically, is this just another bubble that is going to come crashing down? Not necessarily. Historical perspective shows this. The accompanying chart shows the …