So you’re in the market for commercial real estate in Denver and you’re looking to find ways to close the deal. Closing a deal can be a harrowing and stressful process, as you may be dealing with plenty of competition looking to snatch your perfect and preferred property away from you. Clearly, the last thing you would want to have to deal with is having to lose the property you are seeking due to some issue which could have been prevented. These things tend to happen, especially in competitive commercial real estate markets such as Denver’s. In order to avoid this unfortunate situation from playing out, here are a few helpful tips to know to make the next commercial real estate process a breeze.

Be Honest. Don’t Misrepresent Yourself

If you’re looking to purchase your dream Denver commercial real estate property, one of the most important things to keep in mind throughout the process is to be honest. Certainly, you don’t want to tell the seller more than they need to know, but you also don’t want to misrepresent yourself and what you are able to do. If you tell someone you can definitely afford their asking price, but you end up not being able to get a loan for that price, you will likely lose out on being able to seal the deal with this particular seller. Always be honest with them whenever it is in your best interest to do so. Simply Put, don’t get caught in a lie.

Be Prompt in Communication

Throughout the course of a commercial real estate deal, one of the most important factors to keep in mind is to maintain proper communication throughout the process. This means responding in a timely manner to texts and emails, as a delay in communication can actually mean the difference between you sealing the deal and losing out on your potential prized property. If you aren’t able to respond immediately to a request for something, the least you can do is to let them know that you will be able to respond soon. You don’t necessarily have to bow to a seller’s every whim and demand, but prompt and efficient communication can make a serious difference in terms of whether or not you seal the deal. 

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 understand that the process of purchasing commercial real estate can be a daunting prospect, and we want to make it as easy and stress-free as possible. 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.
 

So you’ve decided to make the intelligent, wise decision to begin the process of investing in Denver commercial real estate. Allow us to be the first to congratulate you on taking the initiative to invest in a highly lucrative, rewarding market which can provide continuous financial benefit for you long into the future. But you should also know that the commercial real estate market is full of bad deals, issues which can create a never ending stream of misfortune for you and your business partners. Whenever a person makes the decision to become involved in a part of the economy they are unfamiliar with, it’s best to understand what the first step should in terms of furthering this process along. 

Know Your Budget and then Get Approved for It

Without a doubt, perhaps the most important step you can take before you begin the process of finding your dream Denver commercial real estate property is to understand what your realistic budget is. Everyone has a vision of what they want to invest in, and dreams of finding the perfect commercial space can bring about visions of properties which may or may not be within your financial grasp. Although it is certainly good to dream big and to have large ambitions about what you want to do with the investing world, it’s also wise and prudent to take realistic steps toward finding your dream property.

Before you set out on the journey of finding your perfect property, you should first sit down and determine what you realistic budget is for a property. It’s important to understand that a person should not put every last cent they have into the downpayment of a property, as there will be plenty of other costs associated with bringing the commercial space up to the level you desire. 

A financial institution will want to see that you have excess capital after you put down the down payment, as the understand the amount of finances required to get something like a commercial operation off the ground. Once you’ve determined what your budget is, begin the process of becoming approved for a commercial loan so you can realize and implement your plans of owning a piece of Denver hot and attractive commercial real estate market.

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 understand that the process of purchasing commercial real estate can be a daunting prospect, and we want to make it as easy and stress-free as possible. 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.
 

Spring has sprung in Denver, bringing with in the welcome sight of flowers blooming and overall warmer weather. Undoubtedly, winter in 2019 in Denver was especially rough, as events like the bomb cyclone and the record amounts of avalanches announced their presence loudly, making all residents in the area clamor for the next season to begin. Thankfully, spring is finally here, and that means you can expect a number of important differences in the Denver commercial real estate market to be on the lookout for. Here are a few of the things you should keep your eyes on with the onset of the new season.

Start of Peak Season
Undoubtedly, you’re probably aware of the fact that the winter months are a lull for all types of real estate, as both buyers and sellers tend to take a break from pursuing new deals, as the chilly weather can be a detractor for all people involved. This fact is also seen in the commercial real estate markets, as people are not seeking new places of business or properties to purchase with the intent of renting to other commercial entities.

Spring brings with it plenty of new opportunities for individuals and businesses seeking to find their next big deal. In the world of business, spring and summer tend to be better months for many types of businesses, including restaurants and retail operations. After the holiday season ends, these businesses tend to hit a slow point in the year, and the likelihood of a new business wanting to open or start a new commercial lease during this period is certainly lower than during a warmer period of the year. Use spring to your advantage and start seeking deals which will help to empower your bottomline. 

More Opportunities to Find Your Next Big Purchase
Like many people, the coldest time of the year is sure to leave you not wanting to heavily pursue a new real estate deal, as it can require going into places that are cold or generally not heated. And in order to get there, you will have to often drive through intense weather and other types of events which will make you want to simply stay in doors instead of braving the weather. Spring offers you a new opportunity to make your mark in the Denver commercial real estate market, as the warmer weather makes any new deal a much more plausible scenario for you to pursue.

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.
 

While home sales across the United States appear to be entering a bit of a sputter, home sales in metro-Denver remain as hot as ever, continuing a sparkling six-year run of positive market growth that has seen annual home price appreciation top nearly 40 percent thus far in 2019. 

There are a variety of factors that have stabilized high sales trends, a bit of a surprise due to the fact that the greater Denver region has received almost twice as much snowfall this year as in 2018 —usually a harbinger for slow real estate movement. Price gains were a significant factor in market gains, yet the volume of sales and the shortened number of days Denver residential properties stay on on the market were also a factor. Higher mortgage rates and the limited inventory of homes for sale in the region are also believed to be contributing factors. 

What continues to make homes in the Denver metro region so popular with buyers? Many newly renovated Denver neighborhoods have begun to appeal to the upscale family set. Thanks to wider roads and  larger home lots with more square footage, homes across Denver have much to offer young families who are more interested in choosing a neighborhood that is ideal for raising a family. Many buyers are for single-child families whose new additions have required an upgrade and expansion of home space. 

Some younger professionals and new to the market developers who made well-timed purchases in the city’s older neighborhoods are offering larger four- and -five-bedroom homes in the Denver suburbs that have been remodeled. Investors, too, are actively selling to take advantage of the growing market, notably a large section of rehabilitated homes that were constructed as early as 1960 and have been restored to meet modern standards for efficiency and technological capability.

Remodelers and contractors have also taken advantage of rehabilitation of  smaller ranch-style homes, some with basements, some without. Many of these properties were purchased in various states of disrepair due to neglect or heavy wear as rentals throughout the 1990s and early 2000s. But a transformation of these neighborhoods is already well under under way. The blocks to the east of Peoria Street have attracted medical residents, interns, nurses and other healthcare workers who are enjoying reasonable entry-level home prices and the ability to commute to work —particularly in inclimate weather. 

Looking for a Denver-area realtor to help navigate the ever-changing Colorado residential real estate market? When you work with the friendly team here at Elevation Reality, you can 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. Contact us today to learn more. 
 

It’s obviously not just a matter of finding your dream property and then putting the necessary down payment on it. Unless you are absolutely flush with cash and have a total abundance of needed funds, you’ll want to properly prepare to have the necessary budget needed to comfortably complete the purchase process. If you’re in the market for a new piece of Denver’s hot commercial real estate market, here is how you should plan to budget for it. 

Purchase Costs 

Of course, one of the most important components of the commercial real estate buying process is to have the necessary funds to put down a down payment on the property. You’ll likely need much more than what is typically needed for a residential property, as a lender will want to feel comfortable knowing you are adequately invested in the purchase. Unlike with residential loans, lenders are much more picky about who they lend to, so you will want to have all of your ducks in order before you think about finalizing a deal.

Outside of the obvious expenses that will accompany purchasing the property, you will want to have enough money to prepare for any additional costs which may be associated with the building. This can include money for environmental and structural assessments which may need to be done. You will also need to have money set aside for the appraisal, as well as the cost of completing a title search.

Closing Costs and Contingencies

In addition to the purchase price, you will want to have money set aside to complete closing costs, such as the realty commission cost, taxes associated with the purchase, and any legal fees associated with the transaction. Additionally, you will want about ten to fifteen percent of the purchase price set aside for any unexpected contingency expenses. You certainly don’t want to be short-handed in the event of an unexpected expense. 

Renovations and Repairs

Finally, before you close the deal and begin to reap the massive benefits of owning commercial real estate in the mile high city, you will want to also have enough money set aside for potential repairs and renovations. Prior to closing the deal, you will want to have a thorough inspection completed by a trusted contractor in order to get a solid idea of what kind of repair and renovation costs you may be facing. If you think your new building will require a lot of TLC, be sure to build that into the purchase price.

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.