We hosted a lovely birthday party for my newly 27-year-old brother, and many friends showed up. It was so much fun. It’s hard to think about his age because I remember when he was born so well. He’s always been the sweetest person.
Anyway, we ordered some beef brisket and pulled pork from Smokin’ Yards in Idaho Springs, and they thought we were picking them up Sunday but we wanted them Saturday. So, when I educated them on the correct pick up date they said they couldn’t accommodate. I don’t take ‘no’ as an answer very easily, so I showed up anyway and they were able to find us some meats. It all worked out, but it was a little stressful. The party was excellent, though. It was our first big shebang since we’ve lived in Pine, and it was a success.
My brother should move back here. I know he’d be an awesome real estate agent, and we’d make a really good team. So, come on, help me put out the Adam-move-to-the-US energy.
We all went skiing last weekend and had the best time. Adam came too. Tag decided to ski instead of snowboard, and he did surprisingly well. We went to Georgetown afterward and couldn’t believe how much it’s changed from when we lived there. The little town looks so good. If you haven’t been there lately, you should make a day of it.
At work, we’re doing a new fun thing: On the third Tuesday of each month, we’re inviting the whole office and their family and friends to spend time together. So, this week we went axe throwing. It was a great turnout, and I think everyone had a good time. Next month, we’re going bowling at Wild Game. Come on out and meet us!
Anyone in the market for a new dog? My clients who just bought a house together for the first time (they’re engaged), came to our gathering and brought their dog, Maxwell, a very sweet two-year-old guy, who needs to be rehomed because the female part of the couple is highly allergic. We’ve been fostering him. If you’re interested, please reach out. You will love him. Check out the video and get in touch with any questions!
My dad and Adam are leaving today, and I’m sad. It was too much fun. I’m headed to Philidelphia tomorrow for my BFF’s wedding, so that will take my mind off their departure. Next up, get back into my routine! Will it ever happen? It’s anyone’s guess.
My Colorado Real Estate Status
I wanted to help my friend buy one of my client’s businesses (a liquor store) in Black Hawk, and we all had a meeting. The downside is that she would likely have to work there. She lives kind of close, but it’s not really a great career for her necessarily. The financial possibilities are really great, though. She decided to pass on the opportunity so if you’re lookig…
This is the same client who asked me to set up a few of his rooms on my Airbnb hosting platform. The rooms are also in Black Hawk, and they’re super cute. I’ll provide more information once they’re live.
This is interesting, I had a closing scheduled last week, and an issue came up after the inspection- the septic line had roots coming in- not great. So, this was a defect, and the buyers had five days to speak up if they wanted to back out of the deal. But they didn’t want to, and the issue was fixed between both parties, so we did end up closing, and everyone is happy. Moral of the story; if you find a defect in a home you are purchasing then you have 5 days to remedy the issue to your liking with the seller, even if you are past inspections.
Remember when I told you about my involvement with the 72SOLD program? Well, it’s underway. This program provides users with all of the best practices for selling a home. It’s an alternative to the conventional way of selling your home that has been proven to get sellers between 8.4 and 12% more for their home compared to similar homes in the same MLS! It was designed by an agent who’s worked in the field for decades. Only a handful of agents are allowed in, so I’m feeling lucky. Check out my video and learn more!
Current Denver Area Real Estate Market
Heading into our second week of 2023 we noted that buyers continued to gain momentum in their hunt for a new home. Showings overall increased by 14.5% from last week to 12,735 total showings set with and average of about 3 shows per property per week. What's interesting is that buyers are being more discerning when selecting a home to write a contract on, and are on average looking at 16 homes before going under contract. Median days on market begin to shrink as we enter our compression cycle which happens between January through April, coming in this week at 36 days.
Active inventory remains tight, dropping this week by -2.3% to 4,375 available units for sale. When comparing similar years to this cycle in January we typically have 4,580 units for sale so we are not too far off from where we should be at this time of year. Pending transactions also picked up last week increasing by 18.7% over the previous week with 813 units going under contract. New listings are also making their way to market increasing week over week by 17.0%. Sellers are not wasting time in getting their listings to market. I still firmly believe that the market will pick up directly following Super Bowl weekend whereas in the past we have seen purchase contracts increase by 40% over the previous week. The time is coming for buying and selling. I would encourage buyers to look now and get something under contract prior to February and March when inventory is at its lowest and buyer activity really starts to pick up.
The odds of selling is where I take into account all available listings for sale vs. those that go under contract and or close in the same week and project it forward for a month at a time. Due to inventory declining and buyer demand picking up the odds of selling rose week over week by 3.8% to 51.9%. In order to return to our selling cycle based on data from 2013-2019, less the pandemic years, we can expect the odds of selling to rise heading into February-April. I'm hopeful that we will land around the 60-65% odds of selling range as our market peaks in March and April.
Upcoming Events
- Annual Banquet- This area is full of delightful people who make wonderful conversation, so grab your tickets to the annual banquet and get to know your neighbors!
- Festival Of One-Act Plays- Head to Center Stage and check out five original one-act plays chosen by the experts.
- Chinese New Year Celebration- Looking to find some balance and healing, this celebration is for you.
- Gravel Ride: Trails with the Alchemy Bikes Crew- Biking anyone? Ride the trails around Golden and take in the sites with some pros.
- Block Therapy Trauma Release with Sabrina- Yoga is good for body and mind, and if you’re going through something and could use some healing, this class is for you.
- To Kill a Mockingbird- Arguably one of the greatest novels of all time, is now one of the best productions to come to Denver. You don’t want to miss this.
- Chamber Music Concert- There’s nothing like beautiful music to cleanse the soul and strip away the stress.
