Lifestyle • April 20, 2023

The Ultimate Springtime Activity Guide

by LaDawn Sperling

This all-new 2023 guide is the hottest ticket in town – chock-full of fun, exciting and interesting things to do and see throughout Colorado.

Click each link below for quick reference guide on the latest concerts, sporting events, entertainment and outdoor fun this season.

It is a one-of-a-kind, helpful list of awesome happenings you’re sure to love. Feel free to keep this email handy or bookmark it in your favorites.

Concerts and Music

Sporting Events

Arts, Entertainment, Festivals

Recreational Activities

The event and agenda are subject to change, as the health and safety of attendees are our first priority. By participating in this event, you are acknowledging that you will follow all health and safety guidelines as outlined by the Centers for Disease Control and Prevention (CDC). You are also acknowledging and agree that Anywhere Advisors LLC DBA Coldwell Banker Realty (the “Company”) cannot prevent you from becoming exposed to, contracting, or spreading COVID-19 while at their premises, at a Company event or activity, or performing any action for or on behalf of Company.

Participants agree that by participating, you hereby grant Anywhere Advisors LLC the right to use your name and photo in promotional materials. Affiliated real estate agents are independent contractor sales associates, not employees. ©2023 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Disclaimer 23YV0V_CDO_3/23

Market Updates • April 17, 2023

Market Outperforms Expectations – April 2023 Metro Denver Market Update

by LaDawn Sperling

As the market slowed down in the second half of 2022, many predicted a calmer spring selling season this year, but continued low inventory and a jump in buyer demand in March resulted in a stronger-than-expected start to the season.

March’s vital statistics for all homes – detached single family (DSF) and attached single family (ASF) combined – included:

The average price for homes was up 1% compared to the previous month, but down 5% from March 2022.
The average days in the MLS were down 23% from the prior month, but up 208% from a year ago.
Active listings at month end were up 20% from January and 103% from this time last year.

The number of homes for sale that have lowered their price has decreased from 58% in November 2022 to 37% in March. For sellers whose homes are in turnkey condition and priced right, the bidding war environment has returned. The good news for buyers is that, compared to a year ago, the average home price is down, and homes are staying on the market longer. This allows buyers options – be ready to compete for a newly listed, move-in-ready home or negotiate favorable terms for a home that has been sitting on the market.

If you need any advice or assistance navigating our real estate market, contact me today at 303.710.5817 ladawn.sperling@cbrealty.com I am never too busy for your referrals.

This update is based on information provided by the Denver Metro Association of Realtors® for the period of March 1, 2023, through March 31, 2023, for the following counties: Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park.

Real Estate News, Tips, & Tricks • April 13, 2023

Why Aren’t Home Prices Crashing?

by LaDawn Sperling

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

“Home prices will be steady in most parts of the country with a minor change in the national median home price.”

You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low prices will go:

“We simply don’t have enough inventory. Will some markets see a price decline? Yes. But with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”

As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now.

That lack of available homes on the market is putting upward pressure on prices. Bankrate puts it like this:

“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”

If more homes don’t come to the market, a lack of supply will keep prices from crashing, and, according to industry expert Rick Sharga, inventory isn’t likely to rise significantly this year:

“I believe that we’re likely to see low inventory continue to vex the housing market throughout 2023.”

Sellers are under no pressure to move since they have plenty of equity right now. That equity acts as a cushion for homeowners, lowering the chances of distressed sales like foreclosures and short sales. And with many homeowners locked into low mortgage rates, that equity cushion isn’t going anywhere soon.

With so few homes available for sale today, it’s important to work with a trusted real estate agent who understands your local area and can navigate the current market volatility.

Bottom Line

A lot of people expected prices would crash this year thanks to low buyer demand, but that isn’t happening. Why? There aren’t enough homes for sale. If you’re thinking about moving this spring, let’s connect.

Lifestyle • April 6, 2023

Wallpaper With Personality

by LaDawn Sperling

Wallpaper is back. And you’ll be glad it is – with all the exciting new colors, patterns and textures available to choose from. Today, stylish wallpaper is being used in small spaces, such as powder rooms and mudrooms, or as a beautiful accent, providing pops of color that brighten up an area or give it a more customized look.

Wallpaper choices range from traditional floral patterns to modern art deco designs, with patterns ranging from subdued to bold. Today’s wallpaper is also much easier to apply and remove, so you can create a big impact without the hassle and mess. So, where do you begin? It depends on the look you’re going for.

Create Visual Interest With Texture

If your space needs some personality, textured wallpaper may be the answer. Its three-dimensional design mimics just about any material, giving the room an unexpected visual element. Faux stone or wood adds rustic charm. Floral or scroll patterns evoke an antique or vintage vibe. Many textured papers are even paintable, so if you ever want to change things up, you can give your walls new life with a coat of paint.

Add a Touch of Glow With Metallics

For a glamorous feel, metallic wallpaper is an elegant choice. Your space will sparkle with movement as gold, silver and black elements reflect the light. Some metallic papers are also textured, producing shadowed accents that add depth and intrigue.

Soften Up With Fabric

Fabric or textile wall coverings are among the oldest types of wall decoration and can complement a bedroom’s soft furnishings, giving it a luxurious feel. Found in both manmade and natural fibers, the paper mimics velvet, silk, linen or cotton. These materials are also breathable and porous, making them less susceptible to mold spores. However, keep in mind that fabric wallpaper can be affected by moisture and extreme heat.

Go Green With Naturals

Newer wall treatments made from environmentally friendly, natural products such as bamboo or grass cloth have increased in popularity. Certain brands are handcrafted and create quite a conversation piece, capitalizing on the material’s innate color and texture variations.

Wow Them With a Mural

On a feature wall, a mural makes a bold a statement. It can help bring the beauty of the outdoors inside, transforming a room with dramatic floral arrangements, sweeping landscapes, lush forests and a variety of other picturesque nature-inspired scenes.

Find Your Inner Child With DIY Options

If you’re looking to create a playful, interactive space, coloring wallpaper is just the ticket. It’s not only an ideal addition to a child’s room, but also adds a fun element to any entertaining space. Just like coloring books, this wallpaper comes in a plethora of themes and can be minimal or highly detailed in design. Most often in peel-and-stick form, you can easily remove it, apply a new pattern and start all over again. Just be sure to take pictures of your masterpiece before tearing it down.

Feeling timid about jumping on the wallpaper bandwagon? Consider starting with a small project. Give your lamps some personality by applying wallpaper around the edges of the shades. Wallpaper the top of a side table that isn’t getting much use. Or paper the back wall of a bookcase or curio cabinet to introduce surprise depth. No matter the project, wallpaper has the unique ability to create a space in your home that’s every bit as distinctive as you are.

Real Estate News, Tips, & Tricks • Uncategorized • March 30, 2023

A Smaller Home Could Be Your Best Option

by LaDawn Sperling

Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says:

“As we see the transition of the large Baby Boomer generation age into retirement, it will be interesting to see if they move in with their Millennial and Gen Z children or if they stay put in their own homes.”

Lautz lists two options: move into a multigenerational home with loved ones, or stay in your current house. Multigenerational living is rising in popularity, but it isn’t an option for everyone. And staying put may fit fewer and fewer of your needs. There’s a third option though, and for some, it’s the best one: downsizing.

When you sell your house and purchase a smaller one, it’s known as downsizing. Sometimes smaller homes are more suited to your changing needs, and moving means you can also land in your ideal location.

In addition to the personal benefits, downsizing might be more cost effective, too. The New York Times (NYT) shares:

“Many downsizers expect to improve their retirement income stream if their new home costs less than what their old house sells for. Lower utility costs, insurance and property taxes — as well as investment returns on the proceeds — can also improve the bottom line.”

Being in a strong financial position is one of the most important parts of retirement, and downsizing can make a big difference.

A key part of why downsizing is still cost effective today, even when mortgage rates are higher than they were a year ago, is the record-high level of equity homeowners have. Leveraging your equity when you downsize can lower or maybe even eliminate the mortgage payment on your next home.

So, not only is the upkeep of a smaller home likely more affordable, but leveraging your home equity could make a big difference too. Your local real estate advisor is the best resource to help you understand how much equity you may have in your current home and what options it can provide for your next move.

Bottom Line

If you’re a homeowner getting ready for retirement, part of that transition likely includes deciding where you’ll live. Let’s connect so you can understand your options and explore your downsizing opportunities.

Lifestyle • March 23, 2023

Guest Room Tips for the Warmest of Welcomes

by LaDawn Sperling

Opening your house to guests is one of the many joys of being a homeowner. You can make guests feel welcomed and comfortable by following these simple tips.

Create the Ultimate “Flex” Room

Flexibility is key in getting the most out of your guest quarters. If you host frequently, the room will likely be used by a wide variety of people – from your high school bestie visiting with her kids on spring break to Great Auntie Edna who’s there for the holidays to your nephew who’s in town to tour college campuses. If you expect to holiday children or multiple guests at the same time, consider investing in bunk beds or at least twin beds to offer several possible combinations of sleeping arrangements. The important thing is to plan ahead and anticipate who you may be hosting. Keep this in mind when decorating the space as well. Selecting a neutral color palette (step away from that ruffled, hot pink comforter!) will ensure that everyone feels content in their home away from home.

Add Some Local Flavor

Showcase your local community by displaying the highlights or most popular features of your city. Display a coffee table book about its history or attractions. Framed postcards or other artwork that show the best and coolest spots around town will not only dress up the space, but also give visitors a little taste of what they might see and do during their stay. Go one step further and stock the dresser drawer with brochures or travel magazines they can browse through to gather ideas about an itinerary for their vacation.

Walk a Mile in Their Shoes

Want to really understand what your visitors might need? Spend a night in your guest room with suitcase in tow, and you’ll discover all sorts of little niceties that would make a difference to your guests: handy hooks for wet towels, extra blankets in the bureau, plenty of empty hangers in the closet, a convenient luggage rack, drink coasters for the nightstand, an alarm clock or even a collection of short stories for nighttime reading. Endeavoring to understand their needs from their perspective will help you play the role of the perfect host.

Feel confident when you lay out the welcome mat that those who cross your threshold will enjoy the time spent in your home. Refer to these tips when preparing for overnight guests and you’ll be sure to win points as a first-rate host.

Real Estate News, Tips, & Tricks • March 16, 2023

One Major Benefit of Investing in a Home

by LaDawn Sperling

One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:

“Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.”

With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional.

The Largest Part of Most Homeowners’ Net Worth Is Their Equity

You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The National Association of Realtors (NAR) shares:

“Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families. Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”

In other words, home equity does more to build the average household’s wealth than anything else. And according to data from First American, this holds true across different income levels (see graph below):

Bottom Line

One of the biggest benefits of owning a home, regardless of your income level, is that it provides financial stability and an avenue to build wealth. Let’s connect today so you can start investing in homeownership.

Lifestyle • March 9, 2023

Home Design Trends for 2023

by LaDawn Sperling

In recent months, the world has re-energized, and hope has bloomed in ways that many had not experienced since before this decade began. In contrast, shifting economic and global conditions have awakened and heightened certain sensitivities. This age of extremes has given way to a curious range of design ideas. From eclectic and new to natural and nostalgic, here are some of the most notable home design features and themes we expect to see in the year ahead:

Bring the vacation to you. After nearly two years of limited travel, a sense of wanderlust has arisen for many. Yet, rather than actually traveling to fulfill this urge, savvy decorators have opted instead to create an escape within the residence. With a continued desire to revel in the comforts of home, many have embraced the idea that venturing out truly isn’t necessary to achieve that breezy, revitalizing experience. Using warm wood tones, bright light and airy linen curtains and furnishings, abodes will have rooms – both indoors and out – transformed in the style of beachy resort destinations and dreamy European villas.

Connect to nature and the present. People are recognizing the need to be more present and peaceful in the moment and are erring toward pragmatic sensibilities in lifestyle and functionality. Fostering security and balance continue to be key, but with an emphasis on the senses – which translates into the use of natural textiles and rare materials in home décor such as crude clay, terra-cotta, handcrafted finishing’s and glazed tiles made from organic materials. Color schemes are inspired by nature and the desert theme has gained in appeal, incorporating gentle colors such as beiges and greys. The trend additionally translates to comforting, tactile interior designs that blend organic shapes, arches and irregular forms to create a cozy, warm aesthetic. Such biophilic design will continue as a trend. In fact, you may even consider adding a full-sized tree to the kitchen – olive trees are favored – to add an impressive fixture and create a Mediterranean or rustic vibe.

Embrace opulence and idiosyncrasy. In a distinctly disparate tone, an “anti-neutral renaissance” has simultaneously gained traction, influencing home interiors. For those on this opposite end of the spectrum, minimalist fatigue has set in, driving the desire for extravagance and affecting a mood for glamour. A major theme for the new year is celebrating individuality, so unique touches, unconventional decorative fabrics and elements will reign. Think luxe jewel tones, whimsical details and embellishments galore. Expect striking visual effects in homes such as curvy and geometric shapes, fanciful rugs, monochromatic rooms in vivid shades like baby pink – as well as two-toned cabinets in contrasting colors. Emerald green, cobalt and rust are expected to be top interior colors in the coming year. Hellenism and antiquity will also see a surge in popularity, so Corinthian-style furnishings, statues and wallpaper motifs will be highly sought after.

Statement stone. Combining aspects of the two aforementioned trends, another desirable style in 2023 will be the use of unexpected stones in surprising ways. Anticipate colorful marble in creative reds, corals, deep blues and jewel tones. Exotic types of porcelain, soapstone and granite will be used throughout the home in a variety of ways: Subtly – as serving platters, side tables or nightstands – and dramatically – as accent walls, tables, bathtubs or countertops that transition into bold backsplashes – to incorporate as standalone art or a stunning focal point.

Whether you feel like a daredevil or crave simplicity, the coming year boasts a menu of delights to fulfill the moods and needs of many appetites. We hope you’re inspired to customize and love your residence more than ever in 2023.

Real Estate News, Tips, & Tricks • March 2, 2023

The Top Reasons for Selling Your House

by LaDawn Sperling

Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.

Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:

“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”

So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:

As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.

If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.

What you want and need in a home can be reason enough to move. To find out what’s right for you, contact me I will offer you advice and expert guidance throughout the process. I’ll be able to lay out all your options – giving you what you need to make a confident decision.

Bottom Line

When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Let’s connect today to weigh the benefits of selling your house.

Real Estate News, Tips, & Tricks • February 23, 2023

What You Should Know About Closing Costs

by LaDawn Sperling

Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for.

What Are Closing Costs?

People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate:

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

In other words, your closing costs are a collection of fees and payments involved with your transaction. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

Government recording costs
Appraisal fees
Credit report fees
Lender origination fees
Title services
Tax service fees
Survey fees
Attorney fees
Underwriting Fees

How Much Will You Need To Budget for Closing Costs?

Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical, too. According to the Freddie Mac article mentioned above, the costs to close are typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to cover your closing costs.

Let’s say you find a home you want to purchase for the median price of $366,900. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,500 and $18,500.

Keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

What’s the Best Way To Make Sure You’re Prepared at Closing Time?

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

Work with a team of trusted real estate professionals to understand exactly how much you’ll need to budget for closing costs. An agent can help connect you with a lender, and together your expert team can answer any questions you might have.

Bottom Line

It’s important to plan for the fees and payments you’ll be responsible for at closing. Let’s connect so I can help you feel confident throughout the process.

Coldwell Banker - Denver West

Accessibility Statement | Fair Housing Notice

© Coldwell Banker 2023 – 2024. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.