Tips for pursuing real estate financing

More than likely, you’ve been hearing a great deal about mortgages and other real estate financing issues in the news lately. For someone who is not familiar with this type of financing, it can be difficult to understand. Here are some basic tips to know about obtaining funding for Cherry Creek homes for sale.

Your agent can help

While your agent doesn’t have any authority when it comes to approving you for a loan, they can certainly help with the process and will likely know a great deal about it. Agents know a sale isn’t really closed until every little issue has been resolved, and financing is a big issue. Your real estate agent’s expertise may not specialize in obtaining financing, but they have surely navigated the process successfully several times before. Your agent can give you advice concerning all of your options and by suggesting some lenders to work with that they have had good experiences with in the past.

You don’t have to go to a bank

While banks are certainly the most common lending method, there are several options available to homeowners. You could do seller financing, meaning the lender is the actual previous owner of the house, which is a service that the seller would have to be totally on board with—this is something often done if the seller is having a hard time selling the home and offers seller financing as a motivator. The advantage here is that by bypassing the bank, you are going to have a faster and cheaper process.

You can take out a loan against a life insurance policy. This can actually be relatively easy due to the lack of application process. An idea growing in popularity lately has been rent-to-own, where the future owners actually get a trial period of the house while getting a temporary place to live. And don’t forget the cash option. It’s not something you would be able to do on shorter notice, but it’s a good idea to tuck away for the future.

You money may be held by a third party

If you have an agreement with a seller to buy their home, you won’t exactly send the money straight to them. Payments are often held in escrow, meaning a third party holds the funds until certain agreed upon conditions were met. If the conditions aren’t met, then the other party may be able to back out of the sale without consequences.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Denver’s rich history of being a great place to live

In order to understand how Denver came to be such a rich and vibrant city, it can help to take a look at the city’s long history. Many people living in Denver enjoy staying connected to the city’s past, as the city’s atmosphere preserved many of the ideals that the area was founded upon. Denver enjoys a unique identity partly due to this history.

The city of Denver began in 1858 as Montana City, a mining town on the South Platte River. Thanks to the Pikes Peak Gold Rush enjoyed by the Kansas Territory, gold prospectors settled in Montana City, then moving to the settlement of Auraria and St. Charles City. These first settlements would eventually become what we all know of as Denver.
A prospector claimed land on the river’s bluff along the point that the South Platte River and Cherry Creek meet by saving the spot with cottonwood logs. The prospector, General William Larimer, gave it the name Denver City, after the territory’s governor, James W. Denver. An early indicator of Denver’s great location and recreational elements, the spot was easy to reach with trails along the river.

Denver’s real estate business was booming from the beginning, as Larimer and friends strategized to sell Denver land to buyers that would get the settlement’s population and economy stirring, including merchants and miners. This exciting frontier town easily attracted emigrants. Wagon trails were developed, and then in 1870, a link to the trans-continental railroad (a project funded by citizens) opened up a wider range of opportunities besides mining, leading to a boom in prosperity. During this period of growth, Denver became known as a service and supply town, as many towns connected to railroads do. City leaders continued to try and grow the young city by appealing to industry management and workers. Denver became the second-largest city to the west of Omaha by 1890 and earned the nickname, “Queen City of the Plains” due to Denver being an industrial center for the surrounding agricultural areas.

So, why consider Denver’s history when looking at buying or putting up Denver real estate for sale?

The history makes it evident that, from the start, Denver’s founders designed the city with the goal of attracting residents and keeping them happy. These ideals have been maintained, and contributed to why Denver is such a great place to live today. The city provides access to all the recreational activities you associate with Colorado along with nightlife, arts culture, indoor recreation, Cherry Creek homes for sale and much more. The city that started out appealing to movers and shakers has developed into a city that strives to have something for everyone.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Why you’re not getting any more showings

A common question from those selling their home is: “Why can’t I get showings anymore?” Many sellers may host many showings at first but then see them slowly taper off the longer your home is on the market. There are many reasons for this, and many ways you can stimulate interest:

The initial rush is over

Before you put your house on the market, you should understand that there is already a market of buyers that have been looking around for their dream home for a while, hovering over the listing database for any new listing to look into. Many of these buyers have already seen everything that’s already out there, and so they will be sure to look into any new listings right away. They already know what they want and they already know what their market has to offer, meaning if they have any interest on the home, they will want to jump on the opportunity right away in order to avoid competition from other similar prospective buyers.

This is why you will typically see a rush of interest after first putting your house of for sale. Along with the above types of buyers, you could also see some that are just curious about the new listing and aren’t serious about buying anything anytime soon. If this rush of interest does not result in any offers, don’t worry—it is common for this initial interest to not result in anything serious, as many prospective buyers are so thorough that they will check out a new home even if they have a hunch it isn’t for them. You may see a prospective buyer come back later after this rush after considering your home or other more serious interest after your home has been on the market for a few weeks. Some serious buyers also may not jump on the house right away, as they may be focusing on other houses first or want to reflect upon the listing before approaching the home itself.

Your marketing isn’t reaching anyone

This may be an issue with your agent or your marketing strategy if you are selling by-owner. The reason you’re not getting any showings may be because new prospective buyers may not be seeing your listing. If you initially marketing your home through several outlets and put out fliers, you may not be getting any new buyers because these strategies aren’t attracting any new people. Whether you are listing Cherry Creek homes for sale or other areas of Denver and Aurora, changing up your strategy and listing on different websites or other outlets to try and widen you marketing network.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Part II: Tips for first time home sellers

With all the advice floating around for first time home buyers, we’ve been giving some tips to potential first time home sellers. Like buying, selling is a lot of work, especially if it’s your first time at the rodeo. Take a look at what first time sellers should be prepared for:

Expect to be busy at the beginning

When you enter a home market, understand that there are already a lot of existing hopeful home buyers who have been on the search for a long time—there may even be buyers who have been waiting at the gate for their perfect home to go on the market for the last few years. These buyers are constantly monitoring new additions to the market and their online listings, and so any newly added home will be of interest. This is why you should expect the most interest within your first few weeks of trying to sell your home. The problem is that not all of this interest may be really serious. However, if you don’t find a buyer within this period and your interest starts to taper off, understand that this is normal and that you still have some time to find the right fit.

Be realistic with pricing

Many first time buyers are not realistic about how to price their home. This is usually due to the fact that their perceived value of the home is very different from a realistic price. The seller may be going by the amount they previously purchased the home at or the assessed value for tax purposes. Or, they may just be fantasizing about getting a large sum for their home. One issue may be our previous point—at first you’re going to have a lot of interest, and this can give you false confidence about how appropriate your price is. If your price is too high, you’ll likely find yourself without any offers once the rush is over, or with offers that are lower than what you asked. While some sellers may purposely list high in preparation for low offers, it can be a great strategy to price competitively from the beginning. If you list your home at a price that is fair from the beginning, you may find yourself with reasonable offers during your busiest period, meaning you could save yourself the time it would take to keep your home on the market longer in Cherry Creek homes for sale .

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

The attractions of living in Denver

Anyone looking to move someplace new should be taking a closer look at Denver. This amazing city doesn’t just have cozy snow cabins to offer, although there are plenty of these to choose from. Whether you’re looking for a restored Victorian, cute bungalow, converted condominium, Denver has the home and lifestyle for you. The city can be the art-lover’s haven, the outdoorsman’s playground, and the social butterfly’s nighttime scene, along with a great place to raise a family. Take a look at some of the highlights of Denver living:

The weather

Surprise—the same state with the snowy mountains also has some amazing weather. Denver actually has more sunny days that San Diego, Miami, and Honolulu with over 300 days of sun a year. And yet, Denver residents have around 35 areas to choose from if they want to ski. Denver is an unusual place in the way that you get to enjoy both snow and sun, often in the same day. With lots of lakes and other different types of landscapes to enjoy, Denver weather has helped make the city an outdoor lover’s paradise.

The recreation

If you love activities outside, skiing is not the only option for Denver residents. Denver boasts more than 15 million acres of national park land. After a short car ride, the Rocky Mountains offer a beautiful setting for camping or hiking. There are plenty of recreational areas closer by as well—Cherry Creek’s reservoir recreation area is a great setting for biking, fishing, boating, bird-watching, jet-skiing, and even skating and sledding during the winter, something to keep in mind if you are thinking about looking at Cherry Creek homes for sale.

Indoor fun

Some prospective residents may worry that Denver doesn’t have anything to offer them because they do not like being outside. However, Denver has many activities and attractions with a roof overhead. As is the case with other large cities, Denver has a lively nightlife scene, with lots of happening restaurants and other venues to choose from. You’ll also see many shopping centers and art festivals to browse. If you’re a sports fan, you can catch a Nuggets game or one of Denver’s other professional sports teams. The median age of American citizens is around 38 years old, but in Denver this number is at 34. With such a lively and growing population, you are bound to find something to enjoy—water parks, museums, the Denver Zoo, performing art venues, and much more.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Commonly overlooked home features

Most home buyers have a standard list of ‘wants’ for their new home: number of bedrooms and bathrooms, pool or no pool, an acreage range, patio, and other central home features. However, there are many other areas of the home that homeowners underestimate the importance of, not thinking of some ‘wants’ that should have been on the list until after they move in. Even if a feature is given little focus, it can still have a great impact on everyday life. Check out these frequently overlooked home features:

The driveway

Many home buyers get so distracted by a home’s exterior that they forget to take a close look at the driveway leading there. This feature demands little attention from observers but will be used every day by the new homeowners. They will need to think of how garage space, driveway size, number of cars owned, and surrounding streets will impact parking and garage storage. You do not want to wait until you move in to find out that a driver will have to park out on the street instead of locked in the garage or pulled into the driveway like you envisioned. If you entertain often, scarce parking can be quite the annoyance. And if you live in an area close to an attraction with little parking, you should consider whether other drivers will often be parking on your street and how much room that leaves you and your visitors. Driveways are a type of feature that you won’t pay much attention to unless you experience problems, so make sure to look at the driveways of potential homes closely.

The neighborhood

The kind of neighborhood they’ve moved into may come as a surprise to some new homeowners if they are unfamiliar with the area. Neighborhood ‘vibes’ can be difficult to pick up on if you spend little time there. You don’t necessarily need to camp out, but make sure to spend a little time trying to get to know the neighborhood and whether you would be happy being there every day. Make sure to get to know the neighborhood at different times of the day—what may seem like a low-traffic area in the early afternoon may actually be congested each morning by school traffic. Do you like being close to restaurants or parks? Is there a homeowners association? You should also take a look at how well the neighborhood is maintained and what landscaping standards you will be expected to keep up with.

There are many other aspects of home buying that buyers must consider. If you are looking for Cherry Creek homes for sale or other areas of Denver, the help of a PorchLight agent can help guide you through the home buying process.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Cherry Creek’s high-end market attracts luxury hotel to open in Fall 2013

The Hyatt Hotels Corporation has recently announced that it has entered into agreements with DiNapoli Capital Partners affiliates along with Rockwood Capital to begin construction on a luxury hotel in the Cherry Creek area of Denver. The franchise agreement will result in almost $10 million invested in the property to develop the hotel.

The hotel will feature around 194 rooms, a fitness center, complimentary hot breakfasts, and one of the most significant additions to the Cherry Creek area: a meeting space decked out with the latest high-tech features that can be used for a number of flexible functions. The hotel will also feature easy access to the Cherry Creek Mall along with the Cherry Creek retail district. This state of the art meeting area will help attract business to Cherry Creek and show off the community’s upscale features to hotel visitors along with putting money into the local economy. Making Cherry Creek a popular meeting place will help put the community on the map, opening the doors for more to see all that the neighborhood has to offer.

The location of the luxury hotel does not come as a surprise, as Cherry Creek is no stranger to upscale developments. Cherry Creek has emerged as a popular location for upscale houses and other commercial developments. The average home price in Cherry Creek right now is around half a million, but you won’t have to try very hard to find houses over the one million mark. Even those looking for houses well under this price point are often drawn to the area, as owning property in an upscale area adds to its value. Luxury areas want to maintain this status, and so you know that you are investing in a property whose community is invested in itself—community grounds will be kept nice and tidy while schools will be top notch. And don’t forget the luxury amenities. If shopping at Tiffany & Co or Coach is your cup of tea, then you won’t have to travel far from home to go shopping. Cherry Creek’s shopping centers have much more to offer as well.

Whether you are looking for a charming Victorian or a sophisticated modern home, Cherry Creek has lots to offer you. If you are interested in buying Cherry creek homes for sale or in listing your own Cherry Creek home, consider using an experienced PorchLight real estate agent to help you find the home of your dreams.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Cherry Creek real estate: the lifestyle of your dreams

A community in Denver, the area between Colorado Boulevard and University Avenue makes up Cherry Creek, an upscale neighborhood known for its beautiful mountain homes, upscale amenities, and fantastic outdoor activities. Anyone looking at Denver real estate should note everything Cherry Creek has to offer:

Luxury living. The Cherry Creek neighborhood is known for its higher home values. The median home price in Cherry Creek falls around $500,000, but don’t be surprised to find homes well over a million. This means that even if you’re not looking for a home at the top of those numbers, buying a home in a neighborhood with home values such as these brings value to the lower ranges. With upscale areas like Cherry Creek, you’ll have streets and community spaces that are well taken care of with regular upkeep and beautiful landscaping. Buying a home in a luxury area means that you’ll be in a neighborhood that has a reputation to uphold, so you know there will be consistent investment by the community of the conditions. With these price points, you will also have some great choices of home styles—find the perfect charming Victorian, a more contemporary look, or a variety of other styles.

Countless amenities. Don’t forget about what Cherry Creek has to offer outside of your home—whether you want to eat, shop, work out, grab a bagel, or lounge outside with a nice cup of coffee, Cherry Creek has something for you. Check out lively cafes and restaurants, shopping centers, nice gyms, grocery superstores, and upscale retail like Tiffany & Co. and Coach. Once you leave the doors of your luxury Cherry Creek home, you have so many choices for what’s next.

A recreational paradise. For some Cherry Creek residents, the main attraction to Cherry Creek is the opportunity to enjoy the great outdoors. If your choice activity is golfing, the Denver Country Club is located in Cherry Creek. One of the most popular area bike paths runs for over 40 miles along Cherry Creek and the Cherry Creek reservoir and Cherry Creek State Park offers many outdoor enthusiast activities, such as camping, fishing, picnicking, and, weather permitting, even cross-country skiing. Go out on the water in paddle-boats, power-boats, and sailboats. Cherry Creek is rich in culture, as well: the Cherry Creek Arts Festival, a three day market and gala, showcases the work of artists and presents some great pieces up for sale or enjoyment.

If you’re looking at Cherry Creek homes for sale,the real estate experts at PorchLight Real Estate can help you find the perfect Denver home.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Where to buy: communities with homes for sale in Denver CO

No wonder Denver is one of the most sought after places to live in the United States: a happening capitol city with beautiful mountain views, more sunny days than San Diego and recreational activities like skiing and hiking right around the corner, Denver has something to offer for every sort of lifestyle. However, the next question is where in Denver to settle.

Several communities within Denver offer a great neighborhood to settle down:

Cherry Creek, a subdivision of Denver, currently features 82 homes for sale according to Trulia. The average listing price of a Cherry Creek home is over a million dollars and the average sales price is $800,000. The median price falls at $502,540. The neighborhood’s beautiful mountain homes often feature a Victorian theme and many luxury features, such a saunas and huge closets. The homes in this community are close to the Denver Country Club and any other amenity you may need: grocery stores, gyms, restaurants, shopping centers, and activities for the outdoor lover as well. A bike path along Cherry Creek, one of the most popular in Denver, runs for over 40 miles and passes the shopping district, historical park, and Cherry Creek State Recreation Area.

Located in central Denver, Baker is known for its historical district and is one of the oldest of Denver’s neighborhoods, first settled in 1859. Many of the homes were built over 100 years ago, but most have been updated with renovations—thirty blocks of Baker are included in the National Register of Historic Places. However, this neighborhood’s diversity means that there is a style of home for everyone, from the updated look to the Victorian charm. And there’s nothing stale about this community’s market: recent statistics show Baker’s home values are earning higher gains than average. You will see a variety of residences for sale, whether you are looking for a condominium or a single-family home. The price range of these residences goes from $100 to about $500 thousand. If you want to live in a place with lots to do, Baker is close to South Broadway Street, a great place to shop or grab a bite.

In Northwest Denver, Berkeley has seen rapid rise of property values within the last two decades and is known for its great parks and recreation centers. You’ll also find a historic charm within Berkeley and the community offers great opportunities for those looking for a fixer-upper or a house already in great shape. Current median home prices fall between $270 and $300 thousand with an average listing price of $329,452. However, the community offers a more expensive selection as well, as some homes list at over $650,000. Berkeley residents don’t have to look far to find something to do—Tennyson Street offers many unique and individually owned shops, restaurants, and art galleries.

If you’re looking for homes for sale in Denver CO, look no further than these lively and beautiful neighborhoods.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

When Should I Start Looking for a Home?

Looking for a home can be one of the most exciting things you do; it signifies that you’re completely independent and ready to handle the responsibilities of homeownership. Whether you’ve decided to take the plunge at 30 or 60, buying your first home is always an overwhelming but exciting experience. Unfortunately, some buyers can start looking for homes far before they’re ready to buy, getting themselves too excited and let down, while others start to look too late, which can either interfere with wedding plans, babies on the way, or moving for a job. So when is the “right” time to look for a home?

Employment – If you’re moving to a new city for a great new job, you may want to hold off on your house hunt. For first time buyers, it’s hard enough to buy in your own city, dealing with real estate professionals you may know or at least have good references for. Moving to a new city can be overwhelming enough on its own; the last thing you need to add to your plate is a house hunt with a complete stranger. If you’re looking for a home in your own city, however, we recommend that you’ve been working for your current employer for at least six months and that you have your payment history ready for your lender. If you’re a newer employee, banks will want to see that you’ve made money in this industry, and may require that you have proof of past paystubs and records.

Time to Qualify – Qualifying as a new home buyer can be difficult, and you’ll want to get started as soon as you’re looking at homes. Unfortunately banks have tightened up lately, and you’re not going to be as likely to find “easy” financing, so you’ll want to make sure you’re at least pre-qualified for a house, or else you’re wasting your time and your agent’s time.

Time to Close – Plenty of people like to time their Cherry Creek homes for sale purchase just right; whether it be at the end of their apartment’s lease period, after a new addition to the family, or to have their dream home ready to move into on their way back from their honeymoon. If your heart is set on having a specific closing date, we suggest you start a month or more earlier. You can always ask if you can tack on extra time for closing, but if you cut it too short, a lender’s two week delay, the city requiring permits, or even an extended inspection period can throw off your whole timeline.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.