Parker Colorado Real Estate News

As Parker Colorado Realtors for the last 20 years, we've stayed on top of Parker's real estate scene.  One of our main goals is to provide the homebuying and home selling  public with current and worthwhile information about the real estate market here in Parker, Colorado and her surrounding communities. Hopefully, you will find our real estate news helpful.

 

Feb. 20, 2024

Parker Colorado Home For Sale At 11911 Bell Cross Way

This is our newest listing in Parker, Colorado.  The majestic mountain views from this home will never disappoint.  Located at one the highest points on the front range, it allows what we refer to as "peak to peak mountain views".  With over 6800 finished square feet, 6 bedrooms, 6 bathrooms, a 4 car garage on over 3 acres, this home is a true value at $2,350,000.

 

 

Posted in Parker Real Estate
Feb. 15, 2024

Tour of Downtown Parker Colorado

Posted in Parker Real Estate
Feb. 15, 2024

11911 Bell Cross Way, Parker Colorado

Feb. 10, 2024

Our New Listing In Parker Colorado

11911 Bell Cross Way, Parker, Colorado

This perfect Colorado retreat can be yours! Home is situated on 3+ acres at one of the highest points in Parker, which affords Peak to Peak mountain views from many rooms in the house and the expansive deck. The home is surrounded by open space and trees and at the end of a cul de sac. Privacy, views, quiet with wild life sightings and then the gorgeous home! Home is 6808 of finished space, 6 bedrooms, with all the amenities a buyer would desire. Beautiful hardwood floors and a bright, open feel greet you as you enter. The great room has tall vaulted ceilings and a stone fireplace and opens to the kitchen with a large sit at island and those VIEWS! The laundry on the main level is more than a laundry room. Lots of space with an island, full refrigerator and ample space for projects, back kitchen for caterers or many other purposes. Also there is a mud room. There is a well equipped home office on the main level and a bedroom and 2 baths as well. The primary bedroom suite and 2 other bedrooms are upstairs. Primary bedroom has its own deck that overlooks the mountain views and a separate sitting area with fireplace as well. You might not ever want to leave! The walk out basement is an entertainers delight with an expansive bar and wine closet. This is open to a huge family room that walks out to the lower patio and also has those wonderful mountain views. Basement also has 2 more bedrooms, both with baths and a home theater room. Enjoy neighborhood trails, viewing from the deck of fireworks displays all along the front range and a lifestyle that very few have the privilege of enjoying! All this very close to downtown Parker, with restaurants, and shops and lots of downtown activities.

 

Posted in Parker Real Estate
Feb. 10, 2024

Parker Colorado Home Center Reviews

 

There is nothing better than having satisfied and happy clients.  Over the years, we've helped over 350 homebuyers either find their dream home or sell their current residence.  This is a video testimonial that one of our favorite clients gave us.  

Posted in Parker Real Estate
Jan. 25, 2024

Combine Incomes For Nicer Home

This is a great article. It points out the reasons that homebuyers are combining incomes and assets to purchase homes.  Here in Parker, Colorado and the entire Denver Metro Area, homes prices are pricing out homebuyers.  We're finding that the minimum price for a relatively nice home is about $600,000.  The sweet spot seems to be in the $650,000 to $750,000 price range.  Most single homebuyers simply do not make enough money to afford/qualify for these homes.  So, what can they do?  Find a relative, friend or even an acquaintance that is facing the same problem and go together to purchase a home.  There are plenty of homes that will accommodate these buyers.  The best ones are those that have finished walk-out basements.  Many of these basements have full kitchens.  It's just a matter of who gets the upstairs and who gets the basement.  

 

What about when one of the home owners is ready to move on?  That needs to be handled up front.  Put together a legal agreement that specifies how to handle that situation.  You might simply sell the home, split the profit and move on.  Or, the owner that wants to stay, could refinance and pay the other his equity share.  Or, other options that might work.

 

We see homes every day that would be perfect for two households.  Let us know if we can help.

The Top Benefits of Buying a Multi-Generational Home




Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too.

Why Buyers Are Opting for Multi-Generational Living

According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability (see graph below):

 

First-time buyers are focused most on cost savings – with 28% saying this was a key reason for them. By pooling their resources with others, they can share financial responsibilities like mortgage payments, utilities, and more to make homeownership more affordable. This is especially helpful for those first-time homebuyers who may be finding it tough to afford a home on their own in today’s market.

Buyers are also turning to multi-generational homes so they can more easily afford their dream home. Both first-time (28%) and repeat buyers (18%) chose to live with others so they could buy a larger home. When everyone chips in and combines their incomes, that big dream home with more space could be more within reach.

But multi-generational living isn’t just about the financial side of things. According to the same study from NAR, 23% of repeat buyers chose to buy a multi-generational home to make it easier to care for an aging parent. Many older adults want to age in place and a multi-generational home can help make that possible. For those older adults, it gives them an opportunity to maintain their quality of life while being surrounded by their loved ones. As Axios explains:

“Financial concerns and caregiving needs are two of the major reasons people live with their parents (and parents' parents).”

Lean on an Expert

Finding the perfect multi-generational home isn’t as simple as shopping for a regular house. That’s because there are more people with even more opinions and needs to be considered. It's like solving a puzzle, and the pieces need to fit just right.

So if you're interested in the many benefits multi-generational living offers, partner with a local real estate agent who has the expertise to help.

Bottom Line

Whether your motives are financial or focused on the people you’ll share your home with, buying a multi-generational home may make sense for you. If you’re interested in learning more, let’s connect.

Posted in Parker Real Estate
Jan. 15, 2024

Homeownership is Still the American Dream

As this article points out, "homeownership is still at the heart of the American Dream".  Pretty much everyone desires to own their own home.  But, in today's market, it has become more and more difficult for many individuals to achieve that particular American dream.  The combination of rising home prices and high mortgage interest rates, has pushed many out of the market.

 

Hopefully, we will see mortgage rates ease some in the coming months.  But, hoping for the low rates of a few years ago, is probably not realistic.  So, what can those locked out buyers do?  Double up.  That's the answer.  Get together with a trusted friend and buy a home.  In most cases, those individuals with good credit, reasonable income and a modest down payment, will be able to find and purchase an nice house.  Two incomes, combined, makes all the difference.  Even if it's for a short period, it gets you "in the door" of home ownership.  

 

Most of us who went to college, and were unmarried after college, had roommates.  What if we had purchased a house together, back then.  I know that in my particular case, it would have worked out great.  Would have walked away with quite a bit of equity.  But, of course, we rented and had nothing to show for it.

Homeownership Is Still at the Heart of the American Dream




Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist at Zillow:

The American Dream is still owning a home. There’s a lot of pent-up demand for ownership; that isn’t going to go away.”

Let’s explore just a few of the reasons why so many Americans continue to value homeownership. 

The Financial Benefits of Owning a Home

One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool. That may be why Jessica Lautz, Deputy Chief and VP of Research at the National Association of Realtors (NAR), says:

“Homeownership is the number one way to build wealth in America.”

Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. Habitat for Humanity explains:

“Overall, homeownership promotes wealth building by acting as a forced savings mechanism and through home value appreciation. Homeowners make monthly payments that increase their equity in their homes by paying down the principal balance of their mortgage. . . . In addition, owning a home promotes intergenerational homeownership and wealth building. Children of homeowners transition to homeownership earlier — lengthening the period over which they can accumulate wealth . . .”

It can also provide meaningful financial stability compared to renting. When you buy with a fixed-rate mortgage, you can lock in your monthly housing payments for the length of your home loan.

The Non-Financial Benefits of Homeownership

But, owning a home offers more than just financial benefits—it benefits you socially and emotionally too. Your home provides feelings of achievement, responsibility, and more. In a recent survey, Fannie Mae outlines just a few of these more emotionally-driven benefits, including:

“The top three were having control over what you do with your living space (94%) to having a sense of privacy and security (91%) and having a good place for your family or to raise your children (90%) . . .”

What Does That Mean for You?

If your idea of the American Dream involves greater freedom, security, and prosperity, homeownership could be a key player in bringing that dream to life. And with mortgage rates now on a downward trend, it might be a good time for you to consider making a move.

If you’re ready and able to buy, know that there are incredible benefits waiting at the end of your journey. You'll gain more than just a home – it's a place to grow your wealth and call your very own. Like Ksenia Potapov, Economist at First American says:

“...homeownership remains an important driver of wealth accumulation and the largest source of total wealth among most households.”

Bottom Line

Buying a home is a powerful decision and the cornerstone of the American Dream. If finding a place to call your own is part of your dream for this year, let’s connect to start the process today.

Posted in Parker Real Estate
Jan. 5, 2024

Co-Buying A Home

The following article is great. Buying a fixer upper or renting out a portion of your home are certainly good ways of making some extra income. But, you still have to be able to purchase the home, first. What about all of the potential homebuyers that cannot qualify to buy a home.
Why not go together with a trusted friend that has similar needs when it comes to buying a home. There are a lot of individuals out there who have very good income, down payment money and excellent credit, who still can't afford a home. Or, the home they would like. I've done the math. Let's say one can afford a $500,000 home. As crazy as it seems, $500,000 will nt buy much of a home. But, $700,000 will. A really nice home. By simply adding another equal income, the two individuals will be a able to purchase a very nice home. And, in some cases, they might find a home with two actual living areas (i.e. finished basement with living room, bedroom, bathroom and kitchen). Some issues need to be considered. First of all, can we get along with each other, living in the same home? Do we trust each other to meet our obligations regarding the home (i.e. mortgage payment, maintenance, etc.)? Do we have a good exit plan when one of us decides to get married, has a job transfer, is tired of the situation, etc.)? This concept is not for every one. It's not for most. But, when it works, it's a great way to buy a home far nicer than you could otherwise afford. We see these kinds of properties all the time. If this sounds intriguing to you, give us a call. Call me (Bob) at 720.220.5058 or Cheryl at 303.981.7339.

How To Turn Homeownership into a Side Hustle




Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? According to Bankrate, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who may be dealing with student loan debt (see graph below):

 

 

Here are two strategies that can not only make homeownership more affordable in the short term, but turn it into a lucrative side hustle that can pay off down the road.

Transforming the Challenge of a Fixer-Upper into an Opportunity

One thing you could do to help you break into homeownership is consider purchasing a fixer-upper. That’s a home that may be a bit less appealing and as a result has lingered on the market longer than normal. According to a recent article from U.S. News:

“The current state of the housing market may have you expanding your options to try to find a home that you can afford. A fixer-upper that needs some updating and a little love can feel like a welcome alternative to move-in ready houses that go off the market before you can even take a tour.

By opting for a home that requires some work, you may see two big benefits. For starters, you may find it’s easier to find a home because you’re not looking for that perfect option. Plus, it may also help you enter the housing market at a lower price point. This strategy provides a more affordable way to become a homeowner while also offering the potential for future profits.

Yes, the home may need a little elbow grease, but investing time and effort into gradually enhancing your house not only makes it a home but also increases its future market value. So, while you enjoy the satisfaction of turning a house into a home, you're also building equity that can be unlocked when it's time to sell.

Renting Out a Portion of Your Home To Make It More Affordable

Another savvy strategy is to purchase a home with the upfront intention of renting out a portion of it. According to a recent press release from Zillow, renting out a part of their home is already very important for most young homebuyers (see graph below):

 

 

This approach serves a strong purpose. As Manny Garcia, Senior Population Scientist at Zillow, says:

“For those first-time buyers navigating the ‘side hustle culture,’ where a regular 9-to-5 might not quite cut it for homeownership dreams, rental income can step in to help . . .”

Basically, it can help you afford your monthly mortgage payments. So if you’re open to it, renting out a portion of your home not only helps with affordability, but it also positions you as an investor and turns your home into a source of income.

Bottom Line

In the face of today’s affordability challenges, both of these strategies offer more attainable paths to homeownership, especially for younger buyers. If you want to discuss these options and see how they might play out for you in our local market, let’s connect.

Posted in Parker Real Estate
Jan. 4, 2024

Strong Parker CO Real Estate Market Ahead

I totally agree with this article regarding the economy and housing industry.  Here in Parker, Colorado and the Denver Metro Area, we continue to see a relatively strong market.  We've definitely seen some price declines.  But, not major rice reductions.  In my opinion, the price decreases are more due to "too high" original listing prices.  People, including we agents, are remembering those crazy prices a few years back and thinking nothing has changed.  

 

Inventory is still super low.  We are currently working with quite a few buyers and having a difficult time finding the right homes for them.  That condition, alone, has a major effect of keeping prices stable.  It's the classic "supply and demand" equation.

 

Hopefully, we will see more and more homes coming on the market over the next several weeks and months.  If you're thinking about buying a home now or in the near future, I would encourage you to get active right now.  If you can find the right home now, jump on it.  I strongly believe that we will see a very "hot market" in the spring.  And, if mortgage rates drop below 6%, it will be dramatic.  Result. Higher home prices.  If they drop to the 5% range, it will be crazy.

 

Cheryl and I have been around quite a while and know how to navigate different markets.  We would love to work with you if you're considering buying a home or selling the home you live in.  Call me at 720.220.5058 or Cheryl at 303.981.7339.  Visit our website at www.ParkerColoradoHomeCenter.com for more information.

Why the Economy Won’t Tank the Parker Colorado Housing Market




If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. And many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago.

However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less than half (48%) of economists believe a recession will actually occur within the next year:

Economists are turning optimistic on the U.S. economy . . . economists lowered the probability of a recession within the next year, from 54% on average in July to a more optimistic 48%. That is the first time they have put the probability below 50% since the middle of last year.”

If over half of the experts no longer expect a recession within the next year, you might naturally think those same experts also don’t expect the unemployment rate to jump way up – and you’d be right. The graph below uses data from that same WSJ survey to show exactly what the economists project for the unemployment rate over the next three years (see graph below):

 

If those expert projections are correct, more people will lose their jobs in the upcoming year. And job losses of any kind are devastating for those people and their loved ones.

However, the question here is: will there be enough job losses to cause a wave of foreclosures that will crash the housing market? Based on historical context from Macrotrends and the Bureau of Labor Statistics (BLS), the answer is no. That’s because the unemployment rate is currently near all-time lows (see graph below):

 

As the orange bar in the graph shows, the average unemployment rate dating back to 1948 is 5.7%. The red bar shows, the last time the housing market crashed, in the immediate aftermath of the 2008 financial crisis, the average unemployment rate was up to 8.3%. Both of those bars are much higher than the unemployment rate today (shown in the blue bar).

Moving forward, projections show the unemployment rate is likely to stay beneath the 75-year average. And that means we won’t see a wave of foreclosures that would severely impact the housing market.

Bottom Line

Most economists no longer expect a recession to occur in the next 12 months. That’s why they also don’t expect a dramatic rise in the unemployment rate that would lead to a rash of foreclosures and another housing market crash. If you have questions about unemployment and its impact on the housing market, let’s connect.

Posted in Parker Real Estate
Nov. 28, 2023

Best Time To Sell Your Home

This article is pointing out the benefits of selling your home now, rather than waiting until next year.  We've been in this market for the last 20 years.  Honestly, there is no best or worst time to sell your home.  Remember, if it's good for you, the seller, it will probably be worse for you, the buyer.  So, basically, I recommend you not worry about when to buy or sell.  Here is one exception.  If you want to sell at the highest price, and you're not going to be purchasing a home, then sell in the spring.  Here in Parker, Colorado, the best time to sell is during the months of March, April and May.  And, of course, the worst time to buy.  Year round, there are plenty of good homes for sale here in Parker, Colorado.  We would love to help you with your real estate needs.  We have over 20 years experience here in Parker and her surrounding towns (Castle Rock, Aurora, Centennial, Highlands Ranch, Littleton, Franktown, Elizabeth and more).  Call me at 720.220.5058 or Cheryl at 303.981.7339.

Reasons To Sell Your House Before the New Year




As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year.

Get One Step Ahead of Other Sellers

Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and sometimes deprioritize selling their house until the start of the new year when their schedules and social calendars calm down. But that gives you an opportunity to get one step ahead.

Selling now, while other homeowners may hold off until after the holidays, can help you get a leg up on your competition. Start the process with a real estate agent today so you can get your house on the market before your neighbors do.

Get Your House in Front of Eager Buyers 

Even though the supply of homes for sale did grow compared to last year, it’s still low. That means there aren’t enough homes on the market today. While some buyers may also delay their plans to move until January, others will still need to move for personal reasons or because something in their life has changed.

Those buyers are still going to be active later this year and will be seriously motivated to make their move happen because they need to. Unfortunately, the challenge they'll face is a shortage of available inventory to meet their needs. A recent article from Investopedia says:

“. . . if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy. Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

Use Your Equity To Fuel Your Move

Keep in mind that homeowners today have record amounts of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $290,000. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.

And as you weigh the reasons to sell before year-end, it's important to remember the reasons that sparked your desire to move in the first place. Maybe it’s time for a new home in a location that suits you better, one that offers the perfect space for you and your loved ones, or maybe your needs have evolved over time. A local real estate agent can help you determine how much home equity you have and how you can use it to achieve your goal of making a move.

Bottom Line

Listing your home before the new year can offer unique benefits. Less competition, motivated buyers, and your equity gains can all play to your advantage. Reach out, and let's achieve your goals before winter sets in.

Posted in Parker Real Estate