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Obstacles to Finding Your Dream Commercial Real Estate Property in Denver


April 17, 2019

Searching for the perfect commercial real estate property in Denver can be a tough task to fulfill, as you will be needing to find property that will be fulfill all of your specific qualifications. It’s not just a matter of going out and buying the first available property that you find which appears to be a decent deal. You need to do your due diligence and find out everything possible in order to make an accurate determination if a property is worth its weight in gold. There are a few obstacles which can present themselves, factors which are important to be aware of before you dive head first into the Denver commercial real estate game.

A Property Owner is Hiding Something From You

Let’s be honest: not every property is going to be as it seems. What may appear to be a perfect property on the surface may have plenty of skeletons in its closet, factors which can turn a possible dream piece of commercial real estate into a complete nightmare. For instance, a building may appear to be a very desirable piece of property to buy, but the property owner could be hiding the fact that the foundation is cracking and there are serious structural issues which will require extensive and expensive repairs. This could turn your ideal property into a situation where you regret having bought the asset to begin with, as it becomes more of a burden than its worth.

Economic Uncertainty Causing Market Hesitation

If you’re looking to enter the Denver commercial real estate market with confidence, a major stumbling block can be an economic downturn hitting right before or after you are about to close a significant real estate deal. The way in which the national and global economy operates can play a serious role in terms of how valuable your property is and whether you are able to gain value in your asset as times goes on. 

Obviously, you don’t want to purchase a piece of property right before a market downturn occurs, as you might be underwater with your investment for a bit before the market rebounds. It’s important to do enough research about current market trends in your region in order to get a solid understanding of what is on the horizon, as the last you want to have happen to you is to be blindsided and be picking up the pieces for an extended period of time. 

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 
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How Mixed-Use Real Estate can be the Perfect Option for Your Next Big Denver Commercial Development Project


April 10, 2019

When it comes to Denver commercial real estate, one of the most popular developments seen in the space is a mixed-use development. These are projects where you will have a shopping center in the same complex as a high-end residential condo high-rise. This unique trend is now becoming much more commonplace all over the country, as individuals begin to place a larger value on becoming connected to the community they live in. An apartment that lacks retail and restaurant options will begin to look less appealing as more mixed-use projects become a reality. Here’s why you can expect to see this trend continue into the foreseeable future.

Squeezing the Most Out of Your Asset

If you’re looking to develop a profitable commercial real estate development, you want to think about ways in which you can generate revenue outside of simply collecting the rent. One way of fostering this is to develop a mixed-use project, one which encourages tenants and residents to conduct large amounts of economic activity within your development project. Giving people a reason to stay within the confines of their mixed-use development is a great way to maximize your investment.

A mixed-use development can offer property owners a continuous stream of revenue, collected through property fees as well as increasing rents. The more popular a project becomes, the more attractive it will look to potential tenants, allowing you to charge a premium to become a part of the project. Wouldn’t you want to become the envy of every possible retail and restaurateur of the city?

Fulfills the Expectation of Convenience

One of the biggest reasons why mixed-use developments have risen in popularity is due to the fact that they satisfy the consumer expectation of convenience. The rise of online shopping has made it harder for traditional retail operations to compete with big box stores. However, an attractive mixed-used development can provide a reason for people to begin to flock back to traditional retail operations. 

We are now a world that is driven by instant gratification and being able to have practically every product and service provided to us on demand. This reality can make it difficult to motivate customers to leave their house to seek out a traditional retail experience. However, if the retail shops are within a short walk of one’s doorstep, it makes it much more likely that a person will engage in this form of commerce.

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 
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Warning Signs to Be Aware of in the Denver Commercial Real Estate Market


April 3, 2019

If you’re looking to dip your toes into the Denver commercial real estate market, it’s important to have the most extensive and informed information before you decide to invest large amounts of capital into this potentially-lucrative market. Clearly, not every individual or firm that makes the jump into commercial real estate market will succeed, highlighting the importance of doing one’s due diligence in regards to sound investing. There are certainly a few minefields and danger zones to be aware of if you’re going to take the plunge and invest in commercial real estate property. Here are few of the warning signs to make yourself aware of.

The Seller is Eager to Speed Up the Process

Are you looking at purchasing a potential piece of property and the deal looks to be a winner, but the seller is a little too enthusiastic about speeding up the deal? You may want to do your homework and investigate whether your seller is hiding a dark secret about the property. Perhaps there are serious foundation issues which will require an extensive amount of repairs, or perhaps there are a hefty amount of taxes which they owe and are trying to sweep under the rug. Whatever the reason, an overly eager seller may be an indication that they are trying to keep some information out of the deal and would like to finalize the deal immediately. Don’t rush into this deal and take precaution with every part of it.

Lease Rates are Not in Line with What You Need

Are you purchasing a piece of property with a specific figure in mind when it comes to the lease rates and terms you intend to set? You need to be sure that these figures are in line with comparable properties in the area, as it’s possible you won’t be able to easily fill your building if terms are far beyond the going rate in the area. Take the necessary step to ensure you are safely within your desired rate when it comes to the average property in the area.

If rates are far below what is needed in terms of profitability, you need to seriously reconsider the price of purchase or even think about moving on to another property. Waiting for your building to appreciate is not always the desirable strategy when it comes to investing in the Denver commercial real estate marketplace.

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 
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Properties to Avoid in the Denver Commercial Real Estate Market


March 27, 2019

In the Denver commercial real estate market, not all properties are created equal. There are the can’t-miss properties that any investor would be thrilled to purchase. Areas in hot and happening neighborhoods around Denver are seen as a good-buy, especially if you can get property that is in the midst of a foreclosure. But there are also areas and other factors which can turn commercial property in the mile high city into a less-than-desirable situation. If you’re in the market for purchasing commercial property in the metro-area, here are a few of the things you need to be aware of.

High Crime Areas

Neighborhoods which suffer from a higher-than-normal crime rate are areas which an investor should seriously consider avoiding, unless certain factors make the property too attractive to resist. If a building has good bones and is the desirable amount of space and design for investors, it may be worth considering purchasing this type of property as a long-term investment to have in one’s portfolio. However, if a person or group of people are seeking a short-term project, these areas should generally be avoided.

The Property Has a Poor Foundation

You’ve just uncovered incredible property in one of the best areas of the city and you’re wondering how this place could possibly be available. You’re overjoyed to have found the last hidden gem, when you discover the property’s dark secret: the foundation is cracked and may need to be replaced. This can spell death for any possible purchase, especially if an investor was not looking for a fixer upper scenario. If commercial real estate has extensive repair-issues, it’s very possible you may need to look elsewhere in your search for a solid asset. 

The Property is Overpriced

Ok, this may seem like an obvious statement to casual observers, but it’s important to consider the price as one of the biggest factors prior to investing. Clearly, a person doesn’t want to pay more than market value for any property they happen to invest in. Get a clear appraisal from a trusted source before you dive head first into any commercial real estate project in Denver. 

Though it may seem like a seller’s market and you’re at the behest of the property owner, you can still do due diligence and get an accurate assessment of the situation before investing lot’s of money into the project. Always do your homework before dropping a lot of money onto any project, no matter how attract it appears to be. 

If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.
 
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Denver Residential Real Estate Market Sees Seven-Year Low


March 20, 2019

When you work with Elevation Group to buy or sell your Denver area home, you won’t just be confident you’ll find the ideal picture window, study, pantry or child’s bedroom you’ve been after. You can also align your sale or purchase with us with the confidence of knowing that our team prides itself in the ability to stay up to date on all the latest Denver real estate trends —and utilizes that knowledge to remain a critical asset for each of our clients. With that said, 2019 has started off as a great year to buy a home in greater-Denver, thanks to both a surge in available homes and condominiums, and a buyer-friendly market that hasn’t been seen in nearly a decade.

According to a report released in the first week of March, 2019, the median price of for sale homes fell just over two percent from February of this year to an average price of $430,100. The Denver Metro Association of Realtors indicates that the drop marks the first price drop for single family homes in the greater-Denver metro area since 2012.

What's causing this precipitous drop? It starts with the fact that it's a buyer's market. Homes across the greater-Denver residential real estate market, from those in Holly Hills and Goldsmith to Hale and University Park, are widely available either as new builds or modernized renovations. As such, buyers are gaining more control of the local real estate market, much to the chagrin of sellers. 

In April of 2018, the average cost of a single-family home in the greater-Denver area peaked at $455,000. Last months data is indicative of a nearly six percent decline from that high. The trend is similar for residential condominiums, who have seen an approximate drop of three percent in average sale since May of 2018. 

Another factor that occasionally impacts the Denver housing market is weather. And despite the abnormally disruptive cold and snow experienced by the region this winter, weather isn't believed to be a factor this time. In fact, recent sales data indicates that residential sales of both homes and condos roles nearly five percent from January to February. Another indicator that sales aren't drooping is the fact that an average residential home listing in Denver still only spends an average of 39 days on the market thus far in 2019.

Some strategists believe that only a drop in overall housing prices can regain ground for the region's residential real estate brokers, particularly as the number of available properties remains steady.

Looking to align yourself with a realtor in Denver who will always be in your corner? Contact the Elevation Realty Group team today to set up a free consultation where we can confidently and confidentially discuss your residential or commercial business needs. 
 
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