Fall 2012 Newsletter

A quick look at Metrolist statistics shows that the average sold price of a home in Denver has increased by 9.8% and average days on Market has decreased by 34% from a year ago.

On our personal investments, we have had multiple offers on every property leading to sales prices higher than our asking prices; and half or our properties were pre-sold before we listed them.

We may not have a citywide bull market, but we certainly have plenty of reasons to be enthusiastic about the Denver real estate market. The question is, what is causing Denver’s real estate success? I would like to highlight three key factors that influence housing prices in Denver.

1. Interest Rates are Low – Interest rates are at all time lows and this means buyer’s can afford more house for less money. As I write this, my mortgage broker is offering me a rate of 3.125% on a 30 year fixed mortgage with a 25% down payment! These rates will not last forever, but they create great opportunities for both buyers and sellers right now.

2. Denver is a Young City – According to CNN Money, the median age in Denver is 33.2 and some sources show it to be even lower. Why is this important? You need entry level buyers to create a market where people can upgrade their current homes as their families grow and their needs change.

3. Quality is Valued over Quantity – There is a fundamental shift occurring with a large portion of the population to live in areas with high walkability, which means they are close to shops, restaurants, bars, etc. The houses and yards are generally smaller than similarly priced suburban homes, but the city buyers have no problem with this because they find value in the quality of the location and all of the great things their neighborhood offers. More people desiring communities like the Highlands creates a higher demand, and thus increases values.

There are many more factors that affect the Denver real estate market like the improving employment situation in Denver and banks’ willingness to lend to borrowers. As a real estate investor, it is part of my job to read the world and how it will affect the market. If you find this helpful and have additional questions, please feel free to reach out to me by phone or email. I am happy to share assessments of the market with all.

-Brian Morrison

The real estate market in Denver and surrounding areas has become one of the most competitive in the country.  Today’s customers deserve to work with a broker who exploits new technology so they have instant access to information, are able to act quickly, and assure the home they love does not slip away.

We use iPad technology to help our customers WIN in such a competitive marketplace:

Brixton Brokers are not tied to the office.  Convenience is part of our Five Star service, so if we need to respond to a new listing quickly, we do not need to return to the office and can easily write a contract in the kitchen of the home we are showing to assure we are first to respond (one of the major keys to winning in multiple offer situations.)

Faster service, more details, and quick offers at your fingertips.  We easily offer details about the home, neighborhood, mortgage calculations, and can write contracts on the move.  Our buyers slide through all the properties we are showing while on the road and have access to see more than what could be possibly printed on paper.

Our customer experience is exceptional.  We want our customers to enjoy the home buying experience on every level, and winning the home you love is a major contributor to the experience.  On top of winning, the iPad technology enables our brokers to do business in a more effective way without scanning, faxing, and being disorganized with paper-bound technology.  The iPad and apps we utilize are changing the customer experience and we are proving how we win with customers with every home!

Check out more by connecting with a Brixton Broker today and we assure you will enjoy your home buying experience!

Brian Morrison has had several new projects this fall. One of his latest transformations was sold after multiple offers for more than asking price.  This property at 2439 King Street underwent several renovations. The original ranch home was completely gutted down to the brick and recreated with a large 2-story addition.

Here is the kitchen/dining addition made to the rear of the house.  The original 865 sq. ft. house received over $230k worth of upgrades and high-end finishes throughout and now sits at 2,300 sq. ft.   The transformation is amazing!

Brixton has a new office and it is as unique as our firm and filled with eye catching charm!

Our new office is located in the LeMay Car Museum Colorado Chapter.  The car museum is filled with classic cars and retro rides.  The address is: 11100 W 8th Ave, Suite 200, Lakewood, CO

If we’ve sparked your curiosity, give us a call to schedule a time for a visit!   

TIP 1: CHECK – Check your fire alarms, change the batteries and make sure you have a carbon monoxide detector within 15 feet of every bedroom.

TIP 2: HEATING – Time to have your heating furnace serviced, replace your heating filter, have your air ducts checked and your fireplace cleaned.

TIP 3: INSPECT – Take this time to inspect your house for cracks, leaks, and drafts.  Seal any cracks and drafts you may have in your foundation, windows and doors.

TIP 4: INSULATE – Check your insulation in your attic and around your pipes.  Attic insulation is important to keep your heating costs down during the winter months.

TIP 5: PREPARE – Prepare your winter equipment; make sure your snow blower has gas, the blades are in good working order and check your snow shovels for cracks.

TIP 6: STOCK-UP – The best thing you can do for your home and your family is to waste no time stocking up on snow salt, emergency supplies, and even investing in a gas-powered generator if you live in a remote or sparsely populated area. You don’t want to be one of those people scrambling to find a bag of salt on the eve of the first blizzard of the season.