Gretchen Faber’s Top 10
July 1st, 2008 categories: Life In Denver, Random Thoughts
Hi there! My name is Gretchen Faber, the author of LifeStyle Denver.
In case you haven’t had the opportunity to view my bio yet, I thought I’d give you a little background and tell you about my favorite things to do in Denver for the Fourth of July.
I sell Denver real estate, a profession I’ve loved for over 12 years. Denver is a fabulous city, with so many great neighborhoods. If you’re around Denver this coming weekend - here are a few of my favorite things to do over Independence Day:
1. Cherry Creek Arts Festival: Our central Denver neighborhood of Cherry Creek hosts the annual Arts Festival every Fourth of July. It’s a three day event with hundreds of booths and exhibits. This is no craft fair, it’s a juried show of some top artists throughout the U.S. You can also enjoy the Culinary Arts demonstrations, the kids’ creation area and several outdoor concerts.
2. Colorado Rockies: Every year the Rockies host a fireworks exhibit after the July 4th game, and this year is no exception. My son loves going to this game with his dad. We’re playing the Marlins, and the games with fireworks are on the 3rd and 4th at 6:05 pm. We need a couple of wins!
3. Four Mile Historic Park: Pioneer exhibits and Denver’s oldest standing structure. This place is a blast for the little kids, and interesting for adults with an appetite for history. Don’t miss the horse-drawn carriage rides!
4. Red Rocks: Looking for more adult entertainment? Blues Traveler/Live/Collective Soul are playing at Red Rocks. What a night! I just checked, and tickets are still available.
5. Santa Fe Arts First Friday: It’s First Friday again at the Santa Fe Arts District! Go there first on Friday evening to sample the terrific local artists, and then check out the CC Arts Fest over the weekend. An art-lover’s heaven of a weekend.
6. Pro Lacrosse: Lacrosse fan? Head over to Invesco Field (Mile Hi to locals) and watch the Outlaws play the San Francisco Dragons. Fireworks follow.
7. Symphony On the Rocks: The Colorado Symphony Orchestra will be playing at Red Rocks on Sunday evening at 7:30. Doesn’t this sound like a perfectly wonderful evening after all of the special events you’ve gone to for the past 3 days?
8. Colorado Renaissance Festival: Who needs to cook when you can get a big-a– turkey leg and carry it around with you? The Renaissance Festival is perennially a family favorite. It’s running weekends through early August.
9. Colorado History Museum: This is the last weekend for their exhibit called “The Italians” illustrating the impact that Italian Immigrants have had on our state.
10. Fireworks! Did you think I’d forget? The Glendale city fireworks display is Saturday, July 5th at dusk. Lannie Garrett is playing a concert there too. You can catch fireworks after the Rockies and the Outlaws games. Macy’s will be hosting a fireworks show on July 5th at the Cherry Creek shopping center - best viewing is from the Fillmore Plaza in Cherry Creek North.
Have a fun and safe weekend. If you’re thinking of buying, selling or relocating ~ think of me and click on the “contact me” button. I’ll send you customized information on real estate. Me~Gretchen Faber 
an agent who loves her job!
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Seven 30 South - Restaurant for Romantics
June 28th, 2008 categories: Life In Denver, Restaurant Reviews
My husband and I met on a blind date at Pour La France restaurant in Denver. We decided to meet in the Bonnie Brae neighborhood, nearby where I lived at the time. I was new to selling Denver real estate and some friends decided we should meet because we each had a 2-year-old son. I didn’t trust a man I didn’t know to pick me up at my house, so I made him meet me there at the restaurant located at 730 South University Boulevard.
We still visit the restaurant often even though it’s been renamed Seven 30 South.
A year and a half after we met, we went back to Pour La France and Mr. Right popped the question.
The waitress cried when she lifted up the plate and saw it there. He’d been busily drawing the entire time and I hadn’t paid any attention. It was sweet and romantic because he used the table crayons to make a chart with “Will You Marry Me? Check here: ________Yes _________No _________Maybe.”
I checked yes!
A few weeks ago, we strolled up to Seven 30 South to celebrate our wedding anniversary, and to reminisce about the years. The boys are now teenagers!
Seven 30 South is a terrific little neighborhood bistro with consistent food and service. You can order anything from a Southwest style salad to Chicken Pot Pie to a nice piece of grilled fish or Tuscan Beef Stew. In the summer they have an outdoor seating area that faces onto University Boulevard and the Bonnie Brae neighborhood center.
You may not want to go on a blind date, but you should still take someone special to Seven 30 South!
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Selling Your House for What You Need!
June 22nd, 2008 categories: Market Trends, Relocation Tips, Selling Strategies
In today’s Wall Street Journal section of The Denver Post is a column written by Jeff Opdyke. “A Trip - And a Change of Heart” tells the story of his unfortunate experience in trying to relocate to Hong Kong. Unlike the New York Times, WSJ blocks out online readers unless they subscribe, so I don’t have a link to the column.
Opdyke tells of the difficulties of selling his home, of finding the proper school situation for his children, and of locating a suitable apartment in Hong Kong. It sounds like is was a heart wrenching decision for his family, but they decided to pass up the opportunity after a fraught trip to settle the details.
There are probably many reasons why the decision was the right one for this family - international relocations can be difficult.
The rewards for some are huge, but it still causes upheaval. Much of my client base are relocating families, and several have been posted in China and Hong Kong. They describe such an acute lack of closet space that the extra shower becomes suitcase storage. They also describe the joy of finding peanut butter in the small local grocery mart.
A Realtor friend of mine, Bill Dolan, was so moved by Opdyke’s column that he wrote the author a letter in response. Bill noticed some very telling things about the comments Opdyke made regarding the sale of his home in Louisana. He’s given me permisson to reprint his comments, but I’ve edited them down a bit. You’ll get the gist.
Having worked with many corporate transferees over the years, I couldn’t help but take special notice of some select sentences from your article:
- “Nor can we afford to reduce our house price by the amount we’d need to move it quickly.”
- “We can’t afford to throw away tens of thousands of dollars in equity to facilitate a rapid sale.”
- “That leaves us no choice but to wait out the market.”
Real estate values have declined in every single area of the United States. In my opinion, before you even entertained the idea of moving to Hong Kong, you should have contacted three brokers and/or an appraiser to ascertain market value of your home and used that as a platform: if I jump, can I make it to the other side of the gorge? I am amazed at how few sellers are willing to accept or even try to understand the concept of “fair market value.”
- Your house would move quickly if you priced it at “fair market value.”
- You are not throwing away tens of thousands of dollars in equity to facilitate a rapid sale. You can’t throw away something that isn’t there to begin with. What you paid for your house, and what you owe against it are not relevant. The definition of fair market value is what a ready, willing and able buyer pays for a commodity. (As an aside, what do think the current fair market value of a large SUV is these days? Same as last year, or the year before?)
- You don’t need to wait out the market. If you are not willing to accept today’s “fair market value,” then take the home off the market until the market tells you that you have the equity you want or need to make a move.
I love this article from the New York Times. It is now part of my listing presentation. Over the years I have come to the conclusion that if a property is on the market for more than 30 days or has had 15 showings without an offer, then the price is too high (There are certain exceptions when it comes to very high-priced multi-million dollar properties.)
Good luck with your future relocations.
I’d like to call Bill’s comments an open letter to sellers. This is such a tough conversation to have with sellers. We Realtors aren’t without sympathy for your plight. We certainly wish you could “get what you need”.
I’m a little more patient than Bill seems to be. I generally say 20-25 showings and at least 30 days on the market is the test period. If you don’t have an offer after 25 bona fide buyers have walked through the door, then the price is too high. Your broker is doing his/her job if you’ve had that many lookers. The broker’s job is to expose the property and get traffic.
I’ve had sellers say to me, “Well, you’re just not convincing them to write an offer.” What should I do? Put a gun to their heads? Often the feedback is just disguised price objections. If the Buyer’s agent says that the house is on a busy street or needs too much work or looks outdated, then that’s a disguised price objection. A seller’s choice it to pick up and move the house or drop the price; update the house or drop the price. Sellers don’t like to hear this, and delivering the news isn’t the fun part of our jobs. It’s probably even worse than putting out open house signs…
So, thanks for sharing Bill. Good luck!
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Cheesman Park Masterpiece
June 21st, 2008 categories: LifeStyle Listings, Real Estate News
This was the era of quarter sawn oak, tasteful Craftsman workmanship, large and gracious rooms designed for daily living and lovely entertaining. From the moment you walk up onto the large front porch and enter the grand oak and beveled glass doorway you know you’re in for a treat.
The sun filled entry features oak floors and a fabulous staircase. Sit awhile on the built in oak settee or stash your umbrella and boots in the hidden compartment and continue into the formal living room. The large oak trimmed windows invite you into a lovely room to entertain or just luxuriate in charming space with your family or friends or with a good book.
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Denver Real Estate Stats - May ‘08
June 18th, 2008 categories: Market Trends, Real Estate News
The Denver real estate market is like the old saw about a riddle wrapped in a conundrum wrapped in an enigma. I wish my crystal ball was working better, but I’ll have to rely on instinct, experience and my best guess.
Here are some statistics taken from the Denver MLS for May 2008:
The upshot is that we have 9 1/2 % fewer properties on the market than we did a year ago, and just .62 % more than the month before. The dreaded “over-supply” of inventory seems to be diminishing during the season one would expect to see more properties coming on the market, not less.
Days on Market
The number of days homes are on the market is shortening as well. The average number of days a house is on the market right now is about 100. This equates to a 3 month supply - what analysts consider a balanced market.
In the late 1980’s our market really took a tumble, mainly because the oil shale business dried up. As we look back on that time now, one of the leading indicators that the market was beginning to turn the corner was when number of days on the market shortened. First - fewer days on the market, next - less inventory, finally - prices stabilized.
Multiple Offers
One of the statistics you won’t see in the chart is that many homes are getting multiple offers. In fact, last night I received two offers on one of my listings. Check out LifeStyle Listings and see if you can guess which one, but I can’t tell you yet. One agent wrote a decent offer that still needs to be tweaked a bit, but we can work with it. Another agent brought an offer in excess of $100,000 off of the offering price. She said her clients wouldn’t reconsider their offer because they’d read in the papers that it’s a buyer’s market. I wonder how many offers that agent will be writing up for them…
Average Price
Yes, the average price is still down from last year. We’re pulling out of the slump, but we’re not out of it yet. It’s just a turning of the corner right now. We’ve also experienced a lower price point of homes getting offers than we did in 2007. In our office, the price point of homes that are selling quickly has recently been between $300,000 and $800,000. Last year our higher priced listings were selling much better. This fact alone could be what’s driving down the average sale price, rather than an actual decline of prices.
Stay tuned, these updates will follow monthly! If you like what you see at LifeStyleDenver, subscribe by email or RSS. It’s easy - just click on the buttons at the right of your screen.
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Historic Park Hill Home
June 18th, 2008 categories: LifeStyle Listings, Real Estate News
Surround yourself with the grace and elegance of days past in this stately Park Hill Grande Dame. It isn’t every day that you’ll find this quality of Denver’s historic architecture surrounded by an enormous treed lot on one of our city’s timeless boulevards. From the entry foyer to the third floor you’ll love discovering what this home has meant to countless generations of residents ~ including former Mayor Richard Batterton. This lovely home exudes its original charm and the architectural significance hasn’t been compromised.
Offered for $959,000.
For a full tour and to view more homes, visit www.gretchensdenver.com
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Bonnie Brae Gem
June 16th, 2008 categories: LifeStyle Listings, Real Estate News
Stroll through one of Denver’s loveliest neighborhoods and you’ll fall in love.
Bonnie Brae - or pretty hill - is just east of the Washington Park neighborhood, and is famous for it’s elliptical park and curving streets. Not only can you walk to “Circle Park” and Washington Park, but the Bonnie Brae neighborhood center and Old South Gaylord Sreets are just a few blocks away. Enjoy the local library, Bonnie Brae Ice Cream and restaurants and shops.
If you’re looking to relocate to the Bonnie Brae neighborhood, look no further than 985 South Columbine Street. This gorgeous home is on one of the premier blocks in the neighborhood, and has a beautifully remodeled kitchen, fabulous yard with deck and a finished basement. Offered for $975,000, you can move right in.
Check out this house and others at www.gretchensdenver.com! You can also get email updates from this site by clicking on the “subscribe email” button to the right.
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The Secret To Not Becoming a Murder Victim
June 11th, 2008 categories: Random Thoughts
Do you ever look over your shoulder as you’re walking down the street at night? Do you feel strange when looking at houses with someone you’ve just met? You may be as interested as I was to learn how to avoid danger.
Life Saving Survival Skills
The Gift of Fear, by Gavin De Becker will open your mind to trusting your intuition. De Becker’s expertise comes from his own background and experience, coupled with his training as a psychologist. There are many startling statistics about violence, and some frightening stories from survivors of violent episodes. Most of all, you’ll learn vital skills that will save your life if you’re ever in danger.
Women, especially, are people pleaser’s and don’t want to seem abrupt or rude. This can be a life-threatening attitude. I have had several creepy instances over the years – especially at open houses and from “sign calls.” How do you handle a persistent stranger? Set up policies ahead of time for who you’ll meet and under what circumstances. There are many home buyers who are truly looking for property to buy, and there are many real estate brokers that buyers can trust even after a first meeting. Keep your guard up and don’t necessarily just trust, “the nice ones.” Check out references if you can, look a new person up on Google, and always let others know where you are and who you’re going with.
DeBecker recommends ignoring stalker-types, staying aware at all times and not engaging people who seem to need some sort of response or they don’t let up. He emphasizes trusting your instinct.
Play it safe – trust your instincts and read The Gift of Fear.
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Denver Modern Home in Krisana Park
June 9th, 2008 categories: LifeStyle Listings, Real Estate News
Have you ever desired a mid-century modern home that was in pristine condition?
Do you know what an Eichler-inspired home is and wish you lived in one? How about opening the doors to the outside and feeling like the outdoors and indoors were all one-in-the-same?
Don’t wait! Check out this phemomenal home in Krisana Park in Central Denver. On the market for a mere $400,000, this home will not linger!
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Buyers Beware - Market Turnaround Ahead
June 8th, 2008 categories: Market Trends, Real Estate News, Relocation Tips
Multiple offers? New listings gone in under a week? Is this the Denver real estate market?
Yes! In our medium price ranges, $250,000 to $800,000, things are going fast. I’ve had several brokers in my office tell me that they’ve been in competitive bidding situations recently. More than one - sometimes they’ve actually had two or three competitive bids on houses for the same buyers. That must be surprising for buyers who read the main-stream media and think they should still be underbidding for everything.
Buyers - you need your broker’s advice more than anytime now. Ask to see recent comparable sales in the neighborhood you’ve identified before you make an offer. Sometimes a house is already competitively priced, or at least well-priced. Sometimes there’s room for a bit of negotiation, sometimes there’s room for a lot.
Another important piece of information to know about a house is how many days the house has been on the market. A short time on the market usually indicates less room for negotiation. A short time on the market and well-priced means very little room for negotiation.
If the house you love is also in tip-top condition, recently remodeled or brand new, then there is more of a chance it will sell quickly.
When we see multiple offers, there are usually 3 things in common:
- They’re well-priced.
- They’re in Central Denver neighborhoods - not so much the suburbs.
- They’re in top showing condition.
Buyers who buy today are going to look back a year from now and find they’re sitting in the cat-bird seat. That’s when we’ll all realize the market turnaround began in the summer of 2008.
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