A Few Reasons To Love Bailey, CO

Listing of the Month: 391 N Hill Bailey Drive

 

You will fall in love with August’s Listing of the Month, located in a small mountain town 30 minutes outside of Denver and just over an hour from Breckenridge. After closing on a local listing recently, we became a total advocate for residency in Bailey, Colorado. Whether raising a family or planning for retirement, this quaint mountain town has a lot to offer.

 

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A Taste for The Wildlife

And of course, we mean “wildlife” not “wild life.”

This laid-back mountain town is the ideal dwelling for all wildlife lovers. If you are looking for that great outdoors feel without feeling completely exiled from civilization, this is the town for you. Bailey is abundant with wildlife; a great spot for fishing, hunting, and viewing. Looking out the window of your Bailey Mountain Dream Home, you might just lock eyes with an elk, a mountain goat, a black bear or if you’re lucky, a mountain lion.

 

 

 

 

Calling All Outdoor/Adventure Enthusiasts

Get Adventurous in the Bailey Pines

Cannot imagine a more perfect place to be active and  get outdoors than amongst the ponderosa pines at the Treehouse Adventure Park. Without a doubt, this has to be one of the main attractions in Bailey, CO. Open seven days per week, this Adventure Park is a self-guided experience home to eight different courses with four different difficulty levels. Test your strength in balancing, climbing, swinging and crawling from tree to tree! If that’s just too much, then challenge your fear of heights by embracing the views in one of the treehouses.

 

Stepping on Sasquatch Territory

Are you a believer or a nonbeliever?

A MUST SEE, one of the most unique specialty shops in Central Colorado is The Sasquatch Outpost. This is Bailey’s very own one stop shop for everything Sasquatch (or Big Foot), the local legend. Pick up a souvenir or gift from their selection of Squatch-related merchandise. Indulge in some research at the Sasquatch Encounter Discovery Museum. Also, be sure and stop by to fulfill all your hunting, fishing and camping needs. This point of interest is worth the trip alone to this little mountain town.

 

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Denver Neighborhood Diary: Entry One

July 15th, 2018

Dear Denver Diary,

Today we fall in love with the beautiful Wash Park neighborhood all over again. Being such a great escape from the sometimes chaotic downtown scene, Washington Park is one of the most peaceful communities in Denver. Locals gave birth to the notorious abbreviation “Wash Park” –and it has been evolving ever since. Wash Park is Denver’s very own Central Park with mountain views.

Wash Park makes souls smile. It’s not very often an urban neighborhood like this offers such a lush environment. We discovered Wash Park to be the perfect place for any family looking for that tranquil, laid back, city lifestyle. From multi-million dollar contemporary homes to some historic, brick, Victorian homes, we promise this location has something for every home buyer. Some say a sunset and those mountain views from the banks of Smith Lake will even take your breath away. An ideal day in the neighborhood involves a stroll around the 2.4 mile Wash Park loop and finding the perfect spot for a meditation underneath one of the many tall, majestic trees at the park.

We love to support our local business in the neighborhood! Be sure to check out Wash Park Chiro for an adjustment, Crossfit Wash Park for a workout you will never forget, and when you’re ready to buy, come see yours truly at Walters and Company Real Estate Services! Conveniently within walking distance of the park, one of Denver’s most up and coming hot spots–South Broadway, dubbed SoBo– is crawling with the best shops and eats. If you’re looking to get in shape, just consider Wash Park the fitness capital of Denver! Walk, jog, run, bike, kayak, paddle board, yoga–we do it all here.

We will never forget the day we fell in love with Wash Park.

Until next time,

Walters and Company

Agent Spotlight: Matt Schlitt

   In the coming weeks, we will be featuring our amazing agents on our blog. We want to provide a closer look at the people behind Walters & Company, and hope that our Agent Spotlight series helps to provide a better idea of who we are as a company!newlogo1

    An east coast native with a New York City hustle, who now calls Denver home, Matt Schlitt has high expectations of himself and his ability to provide superior customer service to any and all clients like no one else in the business.  In order to deliver the level of service Matt promises, he focuses on one thing and one thing only: the client.

   “Every time I hand someone my business card, I want them to feel as if they are already a client. I am going to do everything in my power to make them feel comfortable and to fulfill whatever it is they need in real estate.”

    His exceptional ability to listen and understand clients’ needs allows Matt to continuously deliver above and beyond their goals and expectations. His personable and professional character allow Matt to build and maintain solid relationships with his clients, both past and present.

Whether working with a first-time buyer or selling your beloved family home, Matt helps make the real estate transaction process as seamless and efficient as possible by quickly assessing a client’s specific needs and presenting them with the full range of options available to suit both lifestyle and budget.

Matt and his wife, Britni, were married in September of 2017. Matt attended Carroll University (Waukesha, WI) where he was on the Men’s Basketball team.  In 2007, his team earned the opportunity to play in the NCAA Men’s Division III National Tournament, advancing to the “Sweet 16” for the first time in school history, a memory Matt will never forget.  While at Carroll, Matt majored in Physical and Health Education.  Both he and Britni (and their chocolate lab, Charlie) live in the Denver metro area and look forward to having a new home built in 2019.

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Matt Schlitt

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Using Airbnb Income to Refinance?!

newlogo1Airbnb has become, in recent years, very familiar in the eyes of renters and travelers alike. It is a convenient service set up to allow homeowners to advertise their homes for temporary rental situations. It has created a new market for competition between hotels and private renters, as Airbnb allows for a good deal of flexibility for both the person renting out their property and the person who decides to rent it. The app makes it easy for those seeking somewhere to stay to find such within someone’s private home (via a shared living situation,) or by renting someone’s property as a whole. The convenience of Airbnb makes it attractive to travelers and those looking for short-term rentals.

Airbnb has contributed their success to providing a variety of options regarding price, availability, and by having properties all over the world. It gives homeowners the opportunity to rent out as much of their home as they choose to bring in extra income. Until recently, this extra income was purely for personal gain; but recently, companies such as Fannie Mae have partnered with Airbnb in an effort to allow borrowers to use Airbnb income towards refinancing their mortgages. Think about it – you live in Denver, which has seen a huge increase in tourism over the last 5 years and has become a “destination” spot for many travelers, and you have a room to spare in your house; maybe renting your extra room on the weekends will allow you to refinance your mortgage and save you money! Is this too good to be true?

According to CNBC’s market report, homeowners are now able to use rental income earned through Airbnb to refinance their mortgages. This pilot program launched in early 2018, and has seen some great success so far. Mortgage giant Fannie Mae designed the program with Airbnb in an effort to help more borrowers get better loans in today’s tight mortgage market. Since Airbnb already tracks the income data for individual homeowners, it will now provide documentation for a mortgage application. Fannie Mae allows borrowers to use rental income as part of the income qualification needed to refinance their home loans – this allows them either to get a better interest rate, or to take cash out for other expenses, like renovations or education.

The mortgage industry has started to recognize the income potential in companies like Airbnb, which allows homeowners to generate rental income on their own terms. Airbnb co-founder Nathan Blecharczyk wrote “Some of the nation’s largest financial institutions understand that Airbnb is an economic empowerment tool that can generate important income for families, and they are working to recognize this.”

This is big news for homeowners seeking both extra income and to refinance – Airbnb may be the answer! “Because of the sharing economy, the way people use their homes has changed … and now finally the mortgage industry has caught up. We are able to use that income in actually underwriting the value of your house, your ability to make a payment on that loan, and then qualify you for a lower rate.” said Vishal Garg, CEO of Better Mortgage.

Better Mortgage is one of three lenders partnering with Fannie Mae and Airbnb in this program, along with Quicken Loans and Citizens Bank. Borrowers can use Airbnb income to apply for refinances through one of the lenders. In order to qualify for the program, the home must be the borrower’s primary residence, and they are required to have 12 months history of Airbnb earnings. The program is not for investors using multiple homes only as rental properties, but shows definite potential for those looking for options when it comes to refinancing in a tough market!

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Stay updated on all things Walters & Company by following us on Facebook, Instagram, and Twitter. Thanks for reading!

Denver’s 2018 Real Estate Hot Spots

newlogo1Testing…is this thing still on? It has been some time since we here at Walters & Company have connected with our friends and community about the world of Real Estate News and happenings in the Denver area. Along with the fresh start a new year always brings, we hope to expand our social media presence in 2018 in an effort to bring our followers up-to-date information and stay connected with our community. We are so pleased to have you along for our journey!

2018 is off to a hot-market start here in the Denver area. Last year, Denver home prices were appreciating at a pace that put Denver in the top 5 housing markets in the country. However, this appreciation in home pricing slowed a bit towards the end of 2017, allowing other markets with accelerating prices to catch up (according to the latest S&P CoreLogic Case-Shiller Indices.) This tends to happen when prices are continuing to appreciate rapidly – the numbers eventually plateau once they can no longer be sustained at that pace. At the end of 2017, Denver maintained a 7 percent rate of appreciation in home prices. The average increase for the 20-city study conducted by S&P CoreLogic Case-Shiller was 6.3 percent, which marked the 28th month that home price gains nationally have run above 5 percent; Denver still remains a hot market!

Speaking of hot, let’s take a moment to focus on a few of Denver’s “hottest” neighborhoods for 2018. According to Redfin, the three hottest spots for Denver homes are in the Green Mountain area of west Lakewood, the Applewood area also in Lakewood, and the Regis neighborhood in North Denver.

In west Lakewood, the gateway to the Rockies, you will find the Green Mountain neighborhood. Homes there have an average sale-to-list price ratio of 99%; 22% sold over list price (as of December,) and homes spent an average of just 28 days on the market. Talk about hot!

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Green Mountain Neighborhood

 

Homes in the Applewood neighborhood of Lakewood have an average sale-to-list price ratio of 97.3%; 8% sold over list price (as of December,) and homes spent an average of 55 days on the market. Applewood is a wonderful part of Lakewood and deserves a look from anyone in the market!

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North Table Mountain from an Applewood Neighborhood

Finally, Redfin points to the Regis area as one of Denver’s hottest neighborhoods for 2018. Homes in this area have an average sale-to-list price ratio of 100.4%; 54.8% of homes sold over list price (as of December,) and homes spent an average of just 46 days on the market. With its close proximity to the city and access to major highways, Regis is an awesome neighborhood with huge potential.

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View of the Front Range from Regis University’s campus

So there you have it – a quick update on Denver’s hot spots as they’re shaping up for 2018; we’re off for another week in the world of Denver real estate life. Stay updated on all things Walters & Company by following us on Facebook, Instagram, and Twitter. Thanks for reading!

 

Walters & Company Newsletter

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Monthly Market Update

The market stays robust for Denver in the month of October even though we see our lowest inventory in 30 years. You can see below sales price and sold price continue to rise and that there has been no change in days on market, year-over-year or month-over-month.

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What Do We Mean When We Say “Average”?

Of the homes that sold in October, the average detached single family home was 1,849 square feet, 4 bedrooms, 3 bathrooms and was built in 1979. The average attached family home (i.e. Condo) was 1,239 square feet, 2 bedrooms, 2 bathrooms and was built in 1987.


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#DenverHousingStats -April 2016

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April 2016 proved to be very similar to last year as you can see in the chart! This year’s inventory shortage, because it has been prolonged, makes it different than years prior, with pros and cons for both Buyers and Sellers. In some respects it shows signs of being as unbalanced as the market was in 2007/2008.

Let me explain. This kind of Seller’s market is causing Sellers to NOT list because they have no where to move up/move down to. Renting was a great plan B a year and a half ago, but rents are rising and making plan B look less attractive. As I sit at listing appointments I can point out seductive sales prices, Buyers forgoing appraisals and inspections and quick sales, but Sellers still are no less hesitant to put their homes on the market. This is causing an even greater tightening of housing inventory as we move into Spring. This market is too unbalanced and is beginning to cause hardships for both Buyers and Sellers.

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If you look at Colorado’s supply numbers they are down for the whole state to 2.2 months (33% year over year ) of supply and if you look at Denver Metro we have moved from  1.7 to 1.3 months of supply. This slowing begins to cause a build up of demand similar to what we saw right before 2013. I wish I had a crystal ball that could tell us when this pipeline of Sellers will burst!

Even though we are without a crystal ball, I am thinking that as home prices start to rise more minimally, Sellers will begin to have thoughts that mirror this: “Uh, Oh I better sell now before things slow too much”. We saw our first single digit (median house price) increase month over month in March, and then we saw it again in April….If this trend continues I see it as a good thing, a move towards a more balanced market.

I am always looking for balance in my life, aren’t you?