Archive for the ‘Real Estate in NW Denver’ Category
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Jun
24
Posted by Jennifer Allan
Because I’ve been selling in this neighborhood for almost 12 years, I have a pretty good handle on what buyers like and will be willing to pay more for. Bungalows and Tudors are by far the most popular floorplans and if well-maintained, command top dollar, especially if their vintage features have been preserved. 1950’s ranches are less appealing, as are turn-of-the-century cottage-style homes, for various reasons. But how MUCH less appealing?
So, I’m doing a fun little analysis this morning. I’m comparing the average price per square foot (psf) and the average and high/low sales prices of each vintage. For example, I just ran a search on my MLS for ranch-style brick homes built between 1920 and 1930 (i.e. the Bungalow), with square footages of between 900 and 1100. Came up with 46 Bungalows with an average psf of $322, a high price of $419,000 and a low price of $220,000.
Did the same thing with Tudors built in the 1930’s. Surprisingly, the results were almost identical - $322 average psf, high: $415k; low: $235k. Why am I surprised? Because I’ve always thought that Tudors commanded a higher price due to their more elaborate architectural detailing. They always seem to, anyway. Interesting to find out that statistically, they’re no more or no less appealing than Bungalows.
I kept going – analyzing the stats for 1900-1910 cottages and 1945-1960’s ranches. In case you’re interested, cottages command a much lower psf than Bungalows or Tudors and 50’s ranches are somewhere in between.
Good to know. I’m not sure how I’ll use this knowledge (outside of writing a blog about it), but I’ll betcha’ it comes in handy sometime soon!
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Jun
18
Posted by Jennifer Allan
So, to continue our discussion of Charming Old Denver architecture…
The Denver Square - In other cities, this style is called a “Four Square.” Thousands were built between 1894 and 1920 and, even though many “offer” the same floor plan challenges as the Victorian, a well-preserved Denver Square will usually sell quickly, for top dollar. Denver Squares usually feel structurally sound and often offer amazing interior detailing, such as tile fireplaces and custom mantles, wood floors, doors & trim, vintage light fixtures, high ceilings and leaded glass windows.
The 1950’s Ranch - This style appeared on the scene after World War II. Some say that homes built during this era are some of the best built homes in Denver. Ranches typically offer brick exteriors and are often on larger lots. Inside, the floor plans are family-friendly with 2-3 bedrooms upstairs and a full, usable basement below. Total livable square footage of a 1950’s ranch often exceeds 2000, large by Denver standards. Most ranches feature oak floors, often untouched after years of being protected under carpet. While the 50’s Ranch has never been as popular as the Tudor or Bungalow, it seems to be gaining favor in Denver as “Mid-Century Modern” becomes vogue.
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Jun
17
Posted by Jennifer Allan
Looking for Foreclosures/Short Sales/REO’s in Denver… but don’t know where to start?
Frankly, neither do I. I’ve made the executive decision that the Foreclosure market is not my thing. In the late 90’s, I worked with a lot of investors, but that was a different world – one in which the sellers actually seemed to want to sell! I’ve heard so many horror stories of deals that seemed too good to be true… and were. Or sales that dragged on and on for months only to eventually disintegrate after wasting an incredible amount of time and energy.
Nonetheless, today’s market does offer incredible opportunities for the amateur or professional investor and I’ll bet a lot of us will wish we’d taken advantage of one or two of them… I know if I had a couple extra hundred thousand lying around right now, I’d be picking up some real estate…
Anyway, I wanted to pass on the name of a guy I met a few weeks ago who has created a dandy little niche for himself in this Foreclosure market. What he does is purchase a foreclosed home, renovates it, procures a renter and then sells the house at a cash-flowing price. I’ve seen his work and it’s decent! I’ve never done a transaction with him, but my impression was that he’s a straight-up guy offering a win/win proposal. His tagline is “We Always Pass the Deal on.”
If you’d like an introduction, just get in touch with me and I’ll hook you up.
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Jun
16
Posted by Jennifer Allan
Contrary to urban myth, you can actually buy a decent house in Northwest Denver without spending $300,000+!
Don’t believe me? Then check out my new listing (HOT HOT HOT off the press) at 2786 West Denver Place (that’s just one block north of 38th between Eliot & Decatur).
It’s over 1000 sqft with a nice yard, a two car garage and lots and lots of CHARM! Hardwood floors, vintage fireplace (decorative only), unpainted doors & trim, 2built-in bookcases and really high ceilings. The systems are all updated and there’s great storage in the basement. Oh, and a nice, big yard, too. The price? $229,900… Better hurry!
Click Here to Visit the Virtual Tour…
Listed by:
RE/MAX City Horizons 303-947-1335
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Jun
07
Posted by Jennifer Allan
The Vintage Tudor - Built in the 1930’s the vintage Tudor is among the most beautiful architectural styles in Denver. Tudors offer exceptional detailing both inside and out, such as stone quoining around windows and entry-ways, decorative brick design, stucco accents, steeply pitched roof lines… on the inside, you’ll often see beautiful mahogany doors, crystal door knobs, tile window sills and vintage light fixtures. Drawbacks to the Tudor style include low ceilings, small rooms, non-existent closet space and tiny kitchens. However, Tudors, like Bungalows, command top dollar in the Denver real estate market.
The Victorian - Denver Victorians were built before 1900. While most old house lovers profess 
affection for the Victorian, they are not nearly as popular as Bungalows or Tudors. Why? Several reasons. First, they tend to have sagging floors and roofs which can make the home feel unstable. They are typically built on smaller lots, often with another two story home next door blocking the sunlight. The floor plans tend to be rather formal and choppy which conflicts with today’s urban dweller’s desire for open entertaining space. Basements are small and cramped, good for storage only. And while many homeowners like the idea of a second floor, they soon realize that the sometimes elegant stairwells use up a lot of their square footage. All this said, the Victorian is one of the few architectural styles in Charming Old Denver that offers a second floor and certainly has a place among Denver’s favorites.
Stay tuned… more to follow!
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May
29
Posted by Jennifer Allan
Walk (or drive) through any Charming Old Denver neighborhood and you’ll see a variety of architectural styles dating back to the late 1800’s. It’s always struck me as amusing, however, that many blocks showcase the “tract” homes of the time - on one block you’ll see one long row of 1920’s Bungalows; on the next, vintage Tudors one after the other. Sort of like what you’d see driving through the neighborhoods of suburbia - four or five slightly different models and floor plans, with various “elevations” and color schemes, but essentially the same house over and over again. However, we urban snobs proclaim that our “tract” homes have much more style and flair than anything you’ll find in the suburbs.
So, without further adieu, here are some of Charming Old Denver’s favorite architectural styles…
The Classic Bungalow - Built between 1910 and 1930, this style is one of Denver’s most popular. A well-preserved Bungalow commands top dollar, especially if it offers unpainted woodwork, a large front porch and a usable basement. Beautiful vintage fireplaces, wood floors, charming built-ins and beamed ceilings are among the features that Bungalow-lovers appreciate. Drawbacks to the Classic Bungalow include small bedrooms and kitchens, limited closet space, lack of electrical outlets and an awkward floor plan for today’s lifestyle. Nevertheless, purchasing a Bungalow in Charming Old Denver is usually a safe investment.
Stay tuned for more examples of Charming Old Denver architecture!
www.charmingolddenver.com
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May
18
Posted by Jennifer Allan
Ahhhh… it’s a gorgeous day in Charming Old Denver. I think, I hope, maybe… Summer’s Coming!
I’ve always been a summer girl. I come alive when the thermometer reliably hits 80 degrees and am perfectly happy as it reaches toward 100. Bliss.
Okay, back to business.
Are you thinking of putting your house on the market, but putting it off til the kids are out of school? Well… I hate to be the bearer of bad news, but we’re almost thru Denver’s Home Selling Season. On the 4th of July, the market dies dead thru September and stays slow until the holidays. In other words, the first six months of the year are Good; the last six months are Bad, relatively speaking anyway.
But the good news is that you still have time… May has been a strong month so far and June will likely be as well. Just don’t put it off too much longer…
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May
08
Posted by Jennifer Allan
So… according to this morning’s Rocky Mountain News, my little piece of paradise here in Northwest Denver is the second strongest zip code in the city with an annual appreciate rate of… get this… 18.5%!!!!
Go, us!
What’s interesting is just yesterday I was doing an analysis of the number of Lender Owned listings here in my ‘hood compared to the number in other neighborhoods and came to the conclusion that if you’re looking for great REOs or Foreclosures… look elsewhere. Here in 80212, there are 19 lender owned properties on the market and all but two or three are on very busy commercial streets or right on top of I-70 (or both). In other words, these would be tough properties to sell in any market and not something I’d ever recommend to an investor.
So… we’re doing just fine here in 80212… I’m proud of my ‘hood! Want to see why we like it so much? Check out my virtual tour here…
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May
08
Posted by Jennifer Allan
In January of this year, I moved into my 1927 Bungalow. I’ve owned the house for 3 years, but it’s always been a rental. I never dreamed I could actually fit into a 950 sqft home – after all, I’m an adult with lots of stuff. My last 5 houses (I move a lot) have been much larger – specifically, 2,500 sqft, 2,700 sqft, 3,300 sqft, 1,700 sqft and 2,300
sqft.
Well, life throws you curve balls sometimes and I found myself moving from my 2,500 sqft home-in-the-country to my Classic Bungalow-in-the-City.
I love it. I absolutely love it.
It’s a traditional Bungalow – living room in the front with fireplace, dining room in the middle, small kitchen in the back. Two bedrooms and a bath on the side. Stairs off the kitchen leading to the full basement. If you work in older neighborhoods, you’ve seen dozens just like it. The tract homes of the 1920’s.
I love it. I absolutely love it.
Why do I love it so much? Ah, let me count the ways. First, it’s bright and sunny and oh, so charming. Wood floors throughout, vintage fireplace, high ceilings, nice woodwork (albeit painted, bummer). It has a built-in linen closet and unbelievable storage in the basement. I redid the kitchen & 
bath and believe it or not, I actually have room to spare!
I compare my little Bungalow to a Toyota MR2 I owned in the early 90’s. It was a tiny car, but built so efficiently that there seemed to be a place for everything. That’s how I feel about my Bungalow – it’s small, but mighty. There’s a spot for everything, although I have to be a little flexible about exactly where the “spot” might be. For example, since the closets in the upstairs bedrooms are ridiculously small, I converted a bedroom basement into a walk-in closet. Works for me.
I’ve also discovered the joys of CLEANING a smaller house. Wow! I’m a bit of a princess and have always, always, always had a weekly (at least) cleaning service. Well, who’da thunk that Princess Jennifer could clean her entire house from top to bottom, herself, in less than an hour?
The downsides of living in a Classic Bungalow? Oh, the obvious suspects. Tiny bedrooms (10’x9’) and closets, abysmal shortage of outlets, random cracks in the plaster walls, drafty old windows, seriously reduced water pressure, low ceilings in the basement. But in Charming Old Denver, homeowners happily put up with these defects to enjoy the lifestyle, charm and ambience of living in one of our most popular architectural styles.
Stay tuned for more on the Classic Denver Bungalow…
www.charmingolddenver.com
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May
02
Posted by Jennifer Allan
Y’know, it’s tough being a listing agent. No matter how good of a job we do, the margin for error is huge. If we sell the house too fast… we blew it on the price and “cost our seller money.” If the house takes too long to sell… well, we all know what happens then. We didn’t live up to our promises and we disappointed our seller.
Anyway, I just had a listing go under contract with multiple offers. Fortunately (for me), a good friend of mine had the same thing happen to him just a few days earlier and (unfortunately for him), his seller wasn’t prepared. She blasted him for underpricing her home and told him, rather snottily, that she had no intention of making any repairs at inspection.
So, Miss Smarty Pantz me, I warned my sellers up front about what I call “Seller’s Regret.”
Here’s the thing. In today’s market, almost every seller will experience Seller’s Regret. But it’s their choice (sort of) which type of Seller’s Regret they’ll experience.
Type 1: “Damn! We underpriced our home! We should have priced it higher! That darn Realtor – she cost us money!”
Type 2: “Crap. I wish we’d listened to our Realtor upfront. We should have made the repairs, staged it right away and priced it lower. Now, five months later, our listing is stale, we’ve paid $9000 of interest-only mortgage and are fair game for low-ball offers, if we get any at all. Let’s look into renting it out (heavy sigh).”
If a seller is lucky enough to experience Type 1, he may never know the pain and angst of Type 2 and he may always wonder if he should have/could have priced it higher. And that’s okay - pricing homes is an art and, especially in my Charming Old Denver market, there is no One Price for a home. Luckily, in our part of town there ARE buyers out there and if you do accidently (or even intentionally) underprice a home… it will likely still sell at market value - whatever that value may be.
www.charmingolddenver.com
