The Homeowner's Guide to HOAs

If you’re house hunting for the first or fifth time, and aren’t familiar with the concept of HOAs, let me know! I am an Accredited Buyer’s Representative (ABR®) and can walk you through the entire home buying process, including what you need to know about HOAs.  
 

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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iBuyers - Market Disruptor or Just Another Business Model?

Every few years in the real estate industry, something comes along that throws everyone into a bit of a tizzy. From public online listing portals to flat rate listing fee companies, the push to be more competitive and incorporate new tech is driving innovators and forcing traditional brokerages to rethink their business models.

Ug from HomeVestors

This decade's disruptor is the iBuyer. It's not a new idea - companies that buy properties directly from home owners have been around for a while, finding "ugly" houses and flipping them for a profit, no real estate agent needed. But the launch of Opendoor in 2014 has changed what it looks like and what the gains are for the purchasing corporations. Several companies have followed in the past few years - Zillow's Instant Offers, Perch, Redfin Now, to name a few - and are offering sellers another option to the traditional sale process.

The process looks like this. A homeowner can go to a company's website and click to solicit an offer to purchase. Answer some questions about the property, upload some pictures, and within 24 hours get a response. So far, I've done this with three properties, one of them my own home, and four of the iBuyer companies. Two declined to put an offer in for the properties that were already listed in the MLS. One was rejected because the company wasn't operating in Superior yet. Another was passed on because they couldn't find enough relevant comps to feel confident in an offer price. But in the end I did receive one offer on a listing in Broomfield and another on my own home.

My Broomfield listing received an offer almost 6% under the current listing price. The service charge for the sale was 6.3%, which is high for the Denver metro area, although these fees are not standard and always negotiable. The iBuyer company will do an inspection on the property once they are under contract, and any repairs they feel need to be completed will be subtracted from the offer price. The seller can decide when they want to close, I've heard anywhere from 1 week to 3 months. The offer on my home, also in Broomfield, was 8% under market value, with 6% in fees. They gave me the comps that they used to evaluate, and while two were fine the other three were different enough to argue that they should've been omitted.

Photo by Eric Allix Rogers

Right now, these companies are largely operating in cities where the housing stock is priced under $400,000 and homogenous enough where the automated valuations are fairly accurate. You can see market activity on this map. They aren't looking for fixer-uppers, but for mostly turn-key properties that they think they can turn around and sell fairly quickly. They aren't making money on the resale - no fix and flips - and are often selling for close to what they paid for, sometimes even less. They are making money on their fees, which in some places can go up to 14%. More importantly, they are buying market share and looking for future leads.

The pros for a potential home seller? Convenience and speed. No showings, no loan approval, no emotional buyers, pick your closing date. The cons? Very often less money in your pocket. Not being local or ever seeing your home in person, the values aren't as accurate as a local expert. Not getting advertising through the MLS and public websites means that you can't know for sure what your property could've commanded with adequate market exposure.

Conclusion? Just another business model. As a Realtor, I certainly have to pay attention to how the market responds to this and continue to provide value through my services and expertise. For some sellers, this service may be just what they need. But for most, I don't think that this approach will replace a competent Realtor. 
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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How Much Does It Cost to Paint a House in 2019?

One of the priorities of my business is education, both for myself, my clients and the community. The National Association of REALTORS (NAR) shares great articles with its members. Contact me if you'd like some referrals to terrific local painters!

• 

  How Much Does It Cost to Paint a House in 2019?

  Painting your home is a wise investment in time (if you DIY) and money. Here’s how much it’ll cost you. Read

Visit houselogic.com for more articles like this.

Copyright 2019 NATIONAL ASSOCIATION OF REALTORS®

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@stauferteam.com

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GREAT HOME OR INVESTMENT OPPORTUNITY!

Whether you feel like sipping a beverage on a restaurant patio, taking the dog over to the park, shopping after a trip to Starbucks, or taking a dip in the pool and hot tub, Saddlebrooke has it all! These popular units in the BVSD school district get more rental applications than the landlords can handle, so even when you move out they can continue to be a beneficial part of your financial plan.

1665 Egret Way is for sale, boasting wood floors, gas fireplace, stainless steel appliances, balcony with views of the lake, a new water heater and windows, extra parking - the list goes on! 3 bedrooms, 2 baths and a 1-car attached garage, plus the HOA maintains everything including the buildings and roofs. The HOA also includes a clubhouse, trash and snow removal, water and sewer.

An Open House is scheduled for Sunday, 10/20, 1-3pm. If you can't make that, contact me and I'm happy to schedule a private showing at your convenience.
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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FOR SALE: 602 Rawlins Way, Lafayette

Check out this great townhouse in Coal Creek Village! 2 bedrooms, 2 1/2 baths, 2 car attached garage, 1340 sqft total. Whether you enjoy relaxing at home or find your thrills in the Colorado outdoors, this home will meet your needs. 

The main open floor plan boasts wood floors, duet shades, granite counters in the kitchen and stainless steel appliances. BMB Builders made sure these homes were energy efficient and quiet, with 2x6 construction, two inches of sheet rock and dead air space between adjoining units. Enjoy a book or a beverage out on the wraparound porch, or invite friends for a barbecue on the wraparound balcony - tons of room to entertain!

This building has both a courtyard in front and green space in back, so there's no one looking directly into your windows. Because it's an end unit, there's plenty of windows and natural light. There's even a mountain view from the second bedroom. The HOA takes care of all of the maintenance - not just the landscaping but also the exterior including the roof! Stroll down the block to the neighborhood park and playground, or head the other direction to the city water park. Less than a mile and you're in downtown Lafayette to enjoy the Peach Festival, Brew Fest, Art Night Out, Quaker Oatmeal Festival/5k Run, as well as many other restaurants and shops.

An Open House is scheduled for Saturday, 10/12, 2-4pm. If you can't make that, contact me and I'm happy to schedule a private showing at your convenience.
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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FOR SALE: 12707 Zenobia Street, Broomfield

This quality Century Communities cottage home is perfectly located! Just blocks to restaurants and shopping convenience, or head the other way and take a walk on the Broomfield County Commons trails. Your fur babies will love the dog park there, and you can stroll over to watch the July 4th fireworks. It's also midway between US-36 and I-25.

As a corner unit, it boasts a fenced in patio which the interior homes don't have. It also faces a green area and park which is maintained by the HOA, so you get the benefits of a lovely space with none of the work! There are 3 bedrooms upstairs with a loft and a large flex space which the current owner has set up as a home theater - the wiring is already there for your setup, as well as tinted windows and room darkening shades! 

The basement is mostly finished with an exercise room and full bath and built-in speakers - even in the shower! Four bathrooms total, 3074 sqft, clothes washer and dryer included; ready for you to just move in. The home also has a 10-camera surveillance system, video doorbell, local broadcast HDTV antenna, high-quality wood blinds, granite counters and stainless kitchen appliances, laundry tub and 2-car attached garage, all for $499,000. Relax in the quiet interior with the convenience and peace of mind. Contact me for a private showing!
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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PRICE IMPROVEMENT in Rock Creek

Five bedrooms, 4 1/2 baths, over 6600sqft total - now below market value at $929,900!

Let's start in the foyer. The front door is custom made - the frosted glass inserts open up independently to allow the breeze through the wrought iron latticework. Enter the formal front room next, with soaring ceilings, limestone fireplace mantle and hand-painted mural. The main floor office has two walls of built-ins and provides a productive and beautiful space in which to work. The dining room can accommodate a large table in addition to a hutch and buffet table, and leads you through the butler's pantry into the elegant kitchen. Double oven, gas range, granite counters and tons of cabinets, plus a convenient desk area for devices, or even - what's that stuff called? Oh yeah - mail. 

There is a half bath off of the foyer with marble tile, and the guest bedroom and bath are just down the hall. Step through the laundry room into the 3-car garage with loads of storage. The family room is light and bright and open to the eat-in kitchen, with high ceilings and plenty of windows opening to the backyard. Step out onto the custom deck to enjoy our fantastic Colorado weather. The pergola will keep you dry while you throw some kebabs on the built-in Viking grill. The outdoor kitchen also boasts granite counters and a refrigerator, and the sound from the waterfall feature will lull you into the perfect relaxed state. There's also a pond in the other corner of the yard and more patio space under the deck. 

Upstairs, all four bedrooms have walk-in closets; the master has His and Hers closets with extensive organizers. Make it your retreat - with a jetted tub, radiant heat floors, fireplace in the master suite and foothills views you can pretend you are at a luxurious hotel. The second floor includes a loft area, jack and jill bathroom, built-in shelving and another hand-painted mural to inspire your imagination. So many extras in this house - tankless water heater, solar panels, radon mitigation system, Nest thermostat, speaker system, to name just a few. And there's even room to build equity and add more features if you decide to finish the gigantic basement! 

Call me for a showing and you could be hosting Thanksgiving in your beautiful new home!
  

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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