If you are in the market for a new home, you are probably well aware that it is a seller’s market. Across the Denver metro area, homes that are on the market frequently receive more than one purchase offer. The Lowry Park real estate market is no exception, so if you want to find a home, you need to follow some guidelines if you want to present an offer that is accepted.

Get Your Finances in Order First

Get your pre-approval from the lender before you start looking at homes. If you don’t already have financing in place, you might miss out on a listing putting because you are taking precious time to get the financial end of things in place.

Move Quickly When You Find a House You Like

In today’s hot market, you don’t have the luxury of “sleeping on” your decision. If you find a house that checks off a lot of your boxes, you need to move immediately. Let your real estate agent know right away that you’d like to make an offer. Ask your agent to call the home’s listing agent rather than texting or emailing. A phone call has more teeth and can let the listing agent know you are serious about your offer.

Come in With Your Strongest Offer

Because multiple offers often drive up the sales price of a home, you want to make sure your offer is strong right from the start. You should minimally consider offering the listing price—and you might even want to offer more than the listing price if you are serious about the home.

Write a Letter to the Sellers

People are often sentimental about their homes, and if you write a personal note to the seller about why you want their house, this can often make your offer stand out from the others. For example, empty-nesters who are selling because they intend to downsize might like the idea of another family with children settling down in their home.

Make an Offer Even if the Home Is Already Under Contract

Deals fall through all the time, so make a backup offer even if a home is already under contract.

Consider Leaving Out Contingencies

Most offers have some kind of contingency attached, such as mortgage approval from the bank or inspection approval from the buyer. In a seller’s market, it might make sense to leave the contingencies out—or at least shortening the time involved.

For more insight in waiving contingencies in a seller’s market, check out this moderated discussion on the Reddit website.

When you are ready to purchase Lowry Park real estate in this competitive market, you need the expertise of Elevation Realty in your corner. We can help you find the right home and assist you in putting together a strong offer that will help you come out ahead of the pack. Contact the experienced professionals at Elevation Realty team when you are ready to find your dream home; or give us a call at 303-579-3566. Let’s get your search started!  

If you are planning to make a move within the metro Denver area, you might want to consider living in the Observatory Park neighborhood. The Observatory Park neighborhood is bordered by I-25 to the north and Yale to the south in between University and Colorado boulevards. This neighborhood, along with University Hill, have a long history, going back to 1886 when the University of Denver began to flourish. The lots in this neighborhood are larger than average, going up to 9,500 square feet. The first house was built at 2525 Evans.

This is a great neighborhood for a lot of reasons. Let’s take a look at what this area has to offer its residents.

Great Places to Eat and Drink

Do you like ethnic food? It’s there. Do you like to imbibe in adult beverages? You can find world-class breweries right along with wineries and distilleries very close to this great neighborhood. Whatever your taste buds desire, you will be able to find it.
Eat a hotdog at the landmark Mustards Last Stand or enjoy some of the best Middle Eastern food around at Jerusalem.
If you’re looking for the best coffee shops in Observatory Park, don’t miss those featured in this blog post: Best Breakfast and Coffee Spots to Start Your Day in Observatory Park, Denver.

The University of Denver

Often referred to as one of the best graduate schools in the United States, the University of Denver is located in the Observatory Park area. What does this mean for residents? An upscale feel to residences as well as all of the amenities you’d expect in a smaller college town. If you are one of the many employees or students of this campus, you will have a very convenient commute.
The campus is a great place to go for an afternoon or evening stroll, with its many shade trees on the grounds. You can also check out the bookstore for something to read or to purchase a university souvenir.

Nearby All Types of Outdoor Activities

If you get tired of city living, Observatory Park is close to a multitude of outdoor activities. There are numerous beautiful golf courses nearby. And you are just a short drive from the mountains where you will be able to find hiking trails to walk, bicycle trails to ride, and fourteeners to climb.
Colorado is home to many national and state parks. Rocky Mountain National Park is probably one of the most well-known, and you shouldn’t miss it!
It’s easy to see why Observatory Park is the perfect neighborhood with its access to the outdoors and other hot spots. If you’re ready to move to a great neighborhood, Elevation Realty can help. The Observatory Park, Denver area is great for singles and families, as well as those who just want to live near the University of Denver. It’s a quick 10-minute drive from downtown Denver, and it also has close access to the light rail. Contact the Elevation Realty team now or give us a call at 303-579-3566 to begin your search.   

It’s no secret that the University Hills real estate market is competitive these days. Not only is this a great area in which to live, but there are a lot of people searching for homes—and there is never enough inventory to go around. Multiple-offer scenarios are not unusual for homes all over the Denver metro area. What can you do to make your offer the one the sellers can’t wait to accept? We’ve included some tips here on making your best offer so you can buy your dream home.

Get Preapproved for a Mortgage Beforehand

Unless you are one of the lucky ones who will be paying cash for your next home, make sure you get preapproval from a lender before you even start house hunting. If you find your dream home only to discover that you cannot afford the payments, you are just wasting your time. Furthermore, your offer will be that much stronger if the sellers know you are already preapproved for a loan; they’ll know that financing for the deal is likely to go through. Read How to Get Preapproved for a Mortgage, an informative article by the people at Credit.com.

Leave Some Room for Negotiation

Unless you know there are already multiple offers on a home—in which case you should offer the max you could afford to pay—leave a bit of room for negotiating the final purchase price. For instance, if you are searching for homes in the $600,000 to $650,000 price range, don’t offer $650,000 immediately. Offer a bit less to leave yourself a bit of wiggle room for negotiating with the seller.

Listen to Your Real Estate Agent’s Advice

Buying a home is a complicated process, and when you have a real estate agent in your corner, it’s important to listen to their advice. For example, if you want to make a lowball offer on a home and your agent advises against it because he or she feels you will insult the seller—listen to what your agent has to say. If the seller feels insulted or believes you are not serious, they might completely ignore your offer altogether. The home you think is “the one” will probably go to another buyer who makes a better offer. Real estate agents know the market—and they know about the buying and selling process. Heed their advice and you’ll save everyone a lot of grief.

For more information on the University Hills real estate market, read this snapshot of the latest market trends.
If you’re ready to move to a great neighborhood, such as University Hills, Elevation Realty can help. The University Hills area is great for singles and families, as well as those who just want to live near the University of Denver. It’s an easy 10-minute drive from downtown Denver, and it also offers easy access to the light rail. Contact the Elevation Realty team when you are ready to find your dream home or give us a call at 303-579-3566 to begin your search.   

Just as it is all over Denver, the Goldsmith real estate market is hot right now. Home values continue to rise, so it can be a great time to sell. Or it can be a great time to hold on to your investment as its value will likely continue to rise. But if you want to purchase a new home—whether you are in the market for a bigger family home or looking to downsize—you might consider holding on to your current one. Does it make more sense to hang on to your home in the current market and rent out the property—or should you sell it?
Let’s take a look at what you should consider when making this decision.

Why Rent Out Your Home?

If you rent out your home, the rent you charge tenants should be enough to cover your monthly mortgage payment. So essentially, your tenant is paying for you to build equity in the home. Rents in Denver have gone up in recent years, so you might even make additional money beyond your mortgage payment, so this is income.
What About the Costs of Renting?
When you rent out your home, you will still have to pay for maintenance, taxes, and so on. You will also want to invest in landlord insurance, which will cover tenant damages or if someone is injured on your rental property. There are costs associated with finding a suitable tenant, such as background checks, advertising, and so forth. If you decide to hire a property management company, be sure to add in these expenses.
You can download a free worksheet from HouseLogic to help you estimate the costs associated with renting your home.

Can You Afford to Finance Another Home Without Selling Your Current Home?

Obviously, if you need the equity from your current home in order to afford to buy a new home, renting out your current home may not be doable. It’s a good idea to meet with a financial advisor who can run the numbers for you.
You will also need to consider the tax ramifications of renting out your current property. The money our tenant pays you will be considered income, and this can greatly impact your taxes each year.

Can You Deal With the Stress of Being a Landlord?

Being a landlord can be a time-consuming proposition. Before you even rent out the property, you’ll have to advertise the home’s availability, show the home to prospective tenants, and run background checks on them. You will get calls from your tenants for maintenance and repair requests. The entire process can be emotionally draining. You can hire a company to manage your property, but this will eat into your rental income by at least 10 percent.
If you’re thinking about listing your home, Elevation Realty can help. We can tell you more about the Goldsmith market and whether it makes more sense to sell your home before buying a new one, or if renting it out makes more sense. Contact the Elevation Realty team when you are ready to sell and want to find your dream home or give us a call at 303-579-3566 to begin your search.   

Summer is here and that means school is out for a few months. While the kids will likely enjoy a few weeks of doing nothing and catching up with their friends without the added pressures of school and academics, they can get bored quickly. Rather than struggling to find ways to occupy their time in your Observatory Park home, take advantage of some of the fantastic activities and attractions that the Denver Metro area has to offer.

Elitch Gardens

Nothing keeps the entire family occupied and entertained like a trip to an amusement park. In Denver, you don’t have to go far—head over to Elitch Gardens and hop on a few rides to get your adrenaline pumping. Not a fan of wild roller coasters? Not to worry! Elitch prides itself on being fun for the entire family. Head to the Pier and play old-school carnival games or reach a new high score at their arcade.

Denver Zoo

The Denver Zoo is the perfect place to take the whole family for a day of fun and education. Their summer schedule is filled with demonstrations and shows designed to show just how awesome and amazing the animals really are. You can even sign up for a meet and greet as a junior zookeeper and give your kids a chance to see what goes into caring for different species. Just remember to park in their covered parking garage to keep your car cool during the summer heat.

Renaissance Fair 

If you’re up for the drive, the Colorado Renaissance Festival in Larkspur is the perfect weekend activity to keep your kids entertained. They’ll be able to see jugglers, magicians, acrobats, jousting, and musicians all throughout the fair. Best of all, the paths are wide and flat, making them easy to navigate with strollers, wagons, wheelchairs, and walkers. The gate staff is flexible and you’re allowed to leave and re-enter the festival throughout the day.

Water World

When the summer heat is in full swing, you’ll need to find a way to cool down. Treat the family to a trip to Water World, Denver’s own water park. With almost 50 water attractions ranging from wading pools to high-speed waterslides, there’s something for everyone and every age.

Downtown Aquarium

Take a trip under the sea at the Downtown Aquarium. This large building features hundreds of fish from all over the world. Kids and adults alike enjoy watching these brightly colored water-dwellers swim through their habitats. Watch sharks swim up close and even pet a manta ray in one of the touch pools. Once you’ve worked up an appetite, grab a bite at their on-site restaurant!

Whether you’re a long-time Denver resident or are just moving to the area, you’ll find hundreds of fun activities to enjoy during the summer. However, if you’re planning on moving during the warmer months, the last thing you want is to spend the summer stressed out. Let the team at Elevation Group help you find the perfect home for your family. Contact us today to schedule a consultation.