Friday, February 10, 2017

Bradburn Village Update

Bradburn Village continues to grow, between new nearby businesses opening like Zoe's Kitchen and Chuck and Don's Pet Food, and Century Communities Bradburn East single family homes at the corner of 120th Avenue and Lowell Boulevard.

2016 saw the typical slower start with busy spring and summer seasons. Sales were still going strong into the fourth quarter, echoing the continuing narrative from surrounding areas - high buyer demand, low inventory. Total yearly sales made 2016 the third highest in 9 years.

Whether selling or buying, it's important to understand how the local market is behaving. Days to offer and percentage off listing price are two characteristics that can clue you into buyer demand for particular types of housing in specific neighborhoods. Bradburn townhouses were on the market for an average of 5 days before going under contract, while detached homes were averaging 47 days (not including new construction). Rising home values have forced some new homeowners to seek out condos and townhouses rather than detached homes, driving that market faster than in decades past. Sellers have also contributed more to the buyers' closing costs in the fourth quarter than the rest of the year, which can be more common in the higher price tranches than the entry level homes. Closing cost credits should be taken into consideration when examining the percentage off listing price; credits can make the final home value appear higher than it actually is.

You can see in the chart below that, although a few sales this way or that way can really change the $/sqft average in any quarter, the trend lines for both attached and detached dwellings are on a healthy upward run.

2017 is still going to be a busy seller year, but appreciation is expected to slow down a bit. The current administration recently rolled back legislation designed to help buyers qualify for FHA backed loans, and if interest rates go up it will decrease the amount of potential buyers. If you'd like a no-obligation Comparative Market Analysis for your home, don't hesitate to contact me!

I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or

Friday, February 3, 2017

Focus on Bradburn Village: The Exchange

Several years ago, I was looking for somewhere new to go and I came across The Exchange Tavern. I settled into a chair next to the fireplace on the back patio with a nice stout. One bite of Irish Nachos and I was hooked.

Gary and Teddi Davis proudly call the Exchange their "baby." Gary is a Broomfield native and Teddi moved here when she was very young. Together, with their children, they still call the city home.

"Broomfield has continued to grow but still has retained its hometown feel," Teddi remarks. "It's a good community to be from and a great place to raise kids."

Technically, the Tavern is in Westminster but serves many Broomfield residents, as well. Back in 2005, there was no such thing as a non-smoking bar in either city. Not smokers themselves, Gary and Teddi decided to fill the gap in the marketplace. They wanted to create a space where people could come, have a drink and linger.

"The name 'Exchange Tavern' is about a place where people can meet to exchange ideas," Teddi explains. "Everything about the pub was designed to create an intimacy that allows you to stay and talk." Batting was placed in some of the walls to absorb sound. The bar was designed to have more corners for easier conversation. The chairs are comfortable and no "table turns" are mandated (table turns are the number of parties that come and go, and the way some restaurants gauge their success).

For the Davises, success is measured, in part, by their growth through the recession. In 2008, they took over the adjacent coffee shop but soon decided that the space was better used to expand the pub. They added a flatbread oven and the back patio and fireplace. Restaurants have the highest failure rate of new business endeavors, and need to bring together all aspects of running a business, from supply chain to hospitality to technology. It's not as easy as just whipping up some great recipes, although the Tavern has those, too. The rustic Irish fare is created by two degreed chefs, using regionally sourced ingredients, organic whenever possible, with gluten-free and dairy-free options.

With Teddi's marketing experience and Gary's engineering background, they've intentionally designed the pub for maximum comfort and efficiency. "Constant reinvention is the key," remarks Teddi. "We've done great things but we've also made mistakes. You have to be adaptable." Wherever she goes she is always on the lookout for ideas to bring back to the pub. The Tavern was the first in the area to offer live music. They've hosted performers such as Wendy Woo, Big Paddy and John Weiss, in addition to their popular trivia nights.

Over the years, about a dozen family members have worked at the Tavern. The team enjoys a camaraderie that enables them to work seamlessly as they serve their guests. Some employees have been there since the Tavern opened, which says a lot about the culture. "I love my job, it doesn't feel like work," says Teddi.

Even better? How the "family" has grown. Teddi says she never expected to become so close with her employees and guests, and get to celebrate important life events with them. The Tavern has seen birthday parties, wedding proposals, books written, campaign announcements, even babies being born (well, labor pains, anyway). HGTV and Discovery Channel have even filmed on location there. The flags hanging over the bar have all been donated by guests and each has a story to go with it.

"This is where life happens," Teddi says with a warm smile. "We've always said, 'We are inviting people into our home.' They become a part of your life - it's pretty special."

The Tavern's location is special, too. Bradburn Village is a mixed-use neighborhood, designed to be pedestrian oriented. Restaurants, shops and parks are only a few minutes away. "The community relationships of Bradburn were why we chose here. We say on the curb and said, 'This is going to be amazing'."

And it is.

I would love to help you with your real estate journey. 
Please contact me at 303-917-7143 or