Summer 2013 Newsletter

Dear Brixton Friends,

It has been a summer of fun and lots of activity for the Morrison family!  We hope you have enjoyed some sunshine, adventures in nature and lots of laughs with friends and family.

Eva and Ellie have kept us rolling with giggles all summer long.  The older they get (almost 3!) the more animated and outgoing they are turning out to be.  Both are performers in their own way, Eva, the storytelling actress and Ellie, our dancing athletic daredevil.  We’ve taken them on many adventures this summer, but their favorite times are still when they are outside playing with their family.

We’ve also managed to squeeze in some work this summer, selling homes and building homes.  Brian is on track to build a dozen homes in the next year and is keeping customers very happy with beautiful homes at a great value.  We are introducing a full service team to help clients find properties to build some amazing homes and are having a great time doing it!  The Brixton Team has taken some vacation this summer, and we are so lucky to have such a great team that it has been a seamless process overall.  We hope you also got away for a summer trip and would love to hear all about it!

Brian and I are very thankful for our happy girls and enjoy sharing their stories with you.  We would love to hear how your summer is going and welcome a visit anytime!  You will find a lot of great information and additional fun tidbits in the following newsletter.  It is our goal to keep you informed and enjoying life.  Please reach out to us if something strikes your interest, or if we can help you in anyway.

Best regards,

Brian and Jenn Morrison

Have you been trying to decide whether to rent or sell your home? It is a great problem to have, but one to be very careful evaluating. Many of our brokers have rentals and have built strong returns over the years. Depending on your capacity, renting can be a great opportunity or a huge burden for your time, money and resources. We have a list of questions to ask yourself when making the assessment.

How much capital do you have on hand for multiple homes if something breaks?

Do you want to manage tenants yourself or have a property manager take care of everything for a monthly fee?

What is your ROI goal?

What happens if the property goes vacant for a month or two and how does that affect your ROI?
If it is vacant do you have the reserves to support both home mortgages and for how long?

What is your long-term plan for the property?
If a tenant trashes the property, do you have resources to repair it?
Do you have a system for background checks, credit checks, employment verification for tenants?

Do you have a lease that protects you in case of a need for eviction?

The answers to these questions will help you determine how prepared you are to become a landlord, and if you have the financial capacity to take the risks necessary. If you would like more information and help with your assessments, please call us, 720-606-5556 and we will help you examine your specific situation.

Meet the Team

(From Left to Right) Dennis Allen, Brian Morrison, Brian Morris, Ty Keefe

The TK Morrison team is off and running toward making this year a great success! Summer has been buzzing with nine new houses currently in progress and more on the slate for 2014. Brian and Ty are also meeting with clients interested in building their own Denver Square or custom homes. In collaboration with our real estate services at Brixton, we can be a one stop shop for helping clients find lots, assess their design needs and build homes. If you or someone you know may be interested in meeting with us to discuss these opportunities, please contact Brian Morrison at 303-359-6859.

Real estate professional by day….
Twin wrangler by night.

Professional and Real Estate Experience:

Jenn has spent the past 11 years taking care of customers, building strong relationships, and producing satisfaction.

She loves working with clients to help them buy and sell a home in a way that produces a significant return for their lives.

Her favorite part of her job is building relationships with clients and getting to know their lives and families.

The Stats:

• Jenn has helped buy and sell 33 homes in the past year. Her average sales price is $435,840.
• 100% of the buyers working with Jenn this year have walked into equity with their home purchase, every appraisal has come in above purchase price!
• In the past three months, sellers working with Jenn have sold their homes in less than two days.

Some fun facts about Jenn:
Born:
1981 in Fairplay Colorado (one of five CO natives on the Brixton Broker team)

Education:
Graduated with Honors from CSU 2003

Studied:
Business Management and Spanish (abroad in Granada, Spain 2002)

Married:
Brian Morrison, 7/15/2004 (lived in 7 houses during their first 9 years, moving into their 8th house next year once TK Morrison finishes it!)

Travel:
Spain, Italy, France, Canada, Africa, Costa Rica, Mexico and Belize

Favorite Role in Life:
Mom to Eva and Ellie

You have probably heard all over the media lately that interest rates are rising. Please hold back the panic, it will likely be a slow rise, but make sure you are knowledgeable of what this means for you.

Here is what happened: The Federal Reserve made a statement June 19th that “the downside risks to the outlook for the economy and the labor market have diminished.” Although Ben Bernanke said there would be no immediate change in policy, investors are feeling the moment is near and the Fed is likely going to start lessening efforts to help the economy. Interest rates started going up and have been continuing since Bernanke’s statement. We were quoted 4.25%-4.65% for a 30 year conventional mortgage a week after the statement, at least a 0.5% increase in a week.

Here is what it means to you: In the next few years two economic cycles are likely: interest rates will rise and inflation will occur. During this moment in time where interest rates are still low, there is opportunity. It is likely that your purchasing power will diminish greatly in the coming years purely due to interest rates increasing. The impact for your purchasing power is significant, so consider the following scenario to get a better idea of what this means for you.

• Imagine you are purchasing a $500,000 home, putting 20% down and interest rates are 4.5%. Your mortgage will be around $2,027/month.
• If you are purchasing the same home, putting 20% down and interest rates have risen to 6.5%, your mortgage is now about $2,528/month.

The difference in purchasing power is around $500/month, or in the bigger picture, about $180,500 over the life of your mortgage. Leaving you with $100,000 less in purchasing power ($100k less house) with 6.5% interest rates if you were to purchase the same house when interest rates rise versus purchasing today.

There is always a lot to consider when buying a home. The Brixton Ream is here to help you gain the knowledge necessary to make the best decision for you and your family. Please contact us at 720-606-5556 to discuss your particular position and we will offer you our best assessments, knowledge and recommendations.

Our brokers have been on the move this summer, from getting married to family reunions. Summer is the time to get out and enjoy the beautiful weather and enjoy all of the little (or big) adventures that may come your way.

Julie Block Burton with family in San Diego.

Dan Humphreys and Friends climbing a Fourteener!

Ryan Barrett, with his wife, Wendy. Congratulations you two!

Conan with his girlfriend, Gesine, exploring Arches National Park and San Francisco.

Christine, also known as Aunt Jen, goofing off with Ellie.

We hope that you all have a wonderful summer and look forward to hearing from you on your adventures!