Real Estate – Page 3 – Jim Smith's Blog

Huge Price Reduction on 1904 Denver House

This historic home was listed less than a month ago for $995,000, a price supported by comparable sales. That generated few showings and no offers, so the sellers agreed to this price reduction of almost $100,000. Now it’s a steal at $898,000! You’ll love the updates to this 3-BR home at 1240 N. Downing St., a short walk from Cheesman Park in Denver’s historic Capitol Hill. I love this neighborhood. I went to kindergarten at Dora Moore elementary school. If you’re a buyer who likes homes with “character,” let me show you this home! My narrated video tour will give you a taste of it and inspire you to request a showing. You can view more pictures plus that video tour (including drone footage) at www.DenverHome.info. Then call me at 303-525-1851 to schedule a private showing.

Major Price Reduction on Winter Park Condo

Broker Associate Austin Pottorff’s condo in the very center of downtown Winter Park offers great views (above) and easy access to all the activities Winter Park has to offer. Originally listed at $749,000, it is now listed at $599,995. The 2-bedroom unit with 1,063 square feet is within walking distance of restaurants, grocery stores, retail shops, the Idlewild Park Amphitheater, the Fraser River, and numerous bike/pedestrian trails. Recent updates include a new water heater, bathroom, and washer/dryer. All of the town’s free shuttle buses stop in front of this building, allowing convenient access to the Winter Park area and beyond. More pictures and a video of this listing are at www.WinterParkCondo.info, or call Austin Pottorff at 970-281-9071 to request a private showing.

The National Heat Crisis Is Keeping Climate Change & Its Mitigation Top of Mind

Most Americans are conscious of the need to reduce carbon emissions which lead to global warming such as we are experiencing to a limited extent here in the metro area but to a much greater extent elsewhere in the country, Europe and the rest of the world.

Because of the increased attention to this topic, we’ll all be hearing a lot more about “embedded” carbon, not just greenhouse gas emissions.

I’ve written in the past about the outsized contribution of cement and steel manufacturing to our climate change crisis. It is estimated that the manufacture of cement and steel is responsible for 5% and 7% of global greenhouse gas (GHG) emissions respectively, so much attention is being focused on the “greening” of these two industries.

Both the Biden administration and the State of Colorado have enacted measures using “Buy Clean” terminology to accomplish a reduction of embedded GHG emissions in these two products in the bidding and construction of federal and state facilities — both buildings and highways/bridges.

Colorado is leading the nation with the passage of HB21-1303, the Buy Clean Colorado Act, which requires the Office of State Architect and CDOT to make sure that new projects are built with reduced embedded carbon.

Because the state and federal governments are such major buyers of new construction, cement and steel producers are being forced to focus on reducing GHG emissions, the benefits of which will likely spill over to private construction projects.

Here’s a link to how Colorado is tackling the implementation of this law on all projects that are put out to bid starting Jan. 1, 2024.

Bidders will have to provide “Environmental Product Declarations” (EPDs) on the following “eligible materials” used in the construction of state projects: asphalt & asphalt mixtures; cement and concrete mixtures; glass; post-tension steel; reinforcing steel; structural steel; and wood structural elements.

HB21-1303 even seeks to reduce the GHG emissions involved in the transportation of building materials from their place of the manufacture to the build site. The state will want a report on any materials transported over 100 miles, including the weight, method of transportation and total distance traveled in order to compute the “global warming potential” of their transport for future possible consideration/regulation.

Free Webinar: Is Solar a Good Investment for You?

The Colorado Renewable Energy Society presents a free virtual event this coming Sunday, July 30th, at 6pm to help you determine if the benefits of adding solar outweigh the cost. Adding solar to your home or business is a substantial investment, but one which can provide tangible long-term benefits. This lecture will cover the financial considerations of adding a solar PV system to your home, including size, cost, increase in property value, payback timeline, return on investment, tax credits, and local rebates and incentives. It will also discuss no-upfront-cost options such as power purchase agreements and solar leases. Click here to register for this free event.

Just Listed: Ranch Home in Briarwood Commons, Close to Downtown Golden

This 2-bedroom, 2½-bath home at 710 Elm Circle is within walking distance of downtown Golden and literally across the street from the Golden Rec Center! It was just listed by Kathy Jonke and Jim Smith for $698,000. The seller bought it 18 years ago and is only selling because she’s in her 80s and ready to be in a senior facility. You’ll love the shaded front porch and the main-floor living. The two-car attached garage is an amenity not found in most townhomes. Watch the narrated video tour at www.GoldenTownhome.info, then come to our open house on Sunday, July 30th, 11 to 1. Or call Kathy Jonke at 303-990-7428 or Jim Smith at 303-525-1851 to arrange a private showing.

Just Listed: Mesa Meadows Ranch With Walkout Basement and Mountain Views!

This 3-bedroom, 2½-bath home is at 421 Choke Cherry Court, in an enclave called Fox Haven at Mesa Meadows. Nestled in a cul-de-sac on the slope of North Table Mountain, it is close to trails leading into downtown Golden as well as into the table mountain’s open space park. You’ll appreciate the numerous skylights and the vaulted ceilings throughout the main floor. Table mountain and foothills views from the wood deck, too! There is a self-managed HOA with annual dues of only $57. See the narrated video tour with drone footage at www.NorthGoldenHome.com. Sorry, no open house because it’s tenant occupied until Aug. 25th. Showings are permitted, however. Call Jim Smith at 303-525-1851 to arrange a showing.

Midcentury Modern Arapahoe Acres Ranch Listed by Chuck Brown

This 1956 mid-century modern home at 1430 E. Cornell Place was designed in the Frank Lloyd Wright Usonian style and is located in Arapahoe Acres, the first post-WWII subdivision on the National Register of Historic Places. It was just listed by Chuck Brown for $1,300,000. The home features 1,837 square feet of impeccable architecture, with 3 bedrooms, 2 bathrooms and a 1-car attached garage. Perfectly situated on a quiet street in the interior of the neighborhood, it is close to Denver University, shops on South Broadway and the stores at Riverpoint. You’ll love the stained and exposed beams and beveled tongue and groove wood ceiling throughout the house and the completely restored kitchen with mahogany cabinets and modern appliances. The primary bathroom has a large jetted tub, birds-eye maple cabinets and heated terrazzo floor. The large TV/office room showcases a Tennessee Blue stone floor, a window wall with mahogany framing and a built-in mahogany desk and bookshelves. Completing this special home is the custom designed landscaping in the front and back yards. The entire property is the end result of a 24-year restoration endeavor by the current owners. Own a piece of Colorado history! Take a narrated video tour and see more pictures at www.ArapahoeAcresHome.info. It has a 7.5-kW solar system, too! Call Chuck Brown at 303-885-7855 to arrange a private showing.

Unlike Most Professionals, Real Estate Agents Work for Free Most of the Time

Most professionals I can think of get paid for the work they perform. Some even charge for estimates, and others, including surgeons, charge even when they fail at what they were hired to do.

Real estate is different. Most of the time we are giving our services away to customers with only a vague hope of a payday down the road. Sometimes we invest a great deal of money marketing properties that never sell, only to have the seller relist the home at a lower price with another agent who then enjoys a pay day.

I had about 30 closings last year, and I drove 15,000 miles. Do you think I drove 500 miles for each successful closing? No, I drove most of those miles for buyers and sellers who received my services for free without any compensation for my time and travel.

This is okay with me. I love real estate. When it produces a payday, I know that it makes up for the uncompensated efforts I expended on behalf of other clients.

Occasionally I have a buyer who has me show him or her the exact house he or she wants to buy, and I handle the transaction — one showing, few miles of driving around, one contract written, one inspection handled, one closing attended — earning myself a 5-figure payday. The buyer, seeing how easy it was, might reasonably expect a rebate of my commission. But what about those times I showed a buyer 100 different homes, wrote one or two unsuccessful contracts, only to have that buyer rent instead of buy — or the buyer goes to an open house and buys without me?

A few years ago, I was considering listing 5 acres 30 miles up a canyon for $125,000, but the seller was so uncooperative that I ultimately declined the listing — but not before I had made three trips to the property and on one of those trips did $1,000 damage to my car’s underbody on his jagged culvert!

Such is the life of a real estate agent. We may seem overpaid when we are paid 5-figure commissions on a transaction, and you may think that’s unfair, but if we didn’t have those closings to make up for all the times we work for free or spend without reimbursement, it might be hard to justify becoming a real estate agent.

As it is, the average member of the National Association of Realtors earns less than $50,000 in gross commission income per year — before accounting for car, phone, MLS fees, Realtor dues, computer hardware & software, E&O insurance, and more.

A Quit Claim Deed Is Cheap & Convenient, But It Can Void Title Policy

Quit claim deeds are a convenient way to transfer property among related parties. You might use it, for example, to add a new spouse to the title, or to transfer it to an entity which you control.

But be sure to check with the company which insured your title when the home was last purchased, because you’ll need to have the title policy amended, costing $75-$100 or thereabouts, so it conforms to the new ownership of your property.

If you don’t remember which title company handled the transaction, any Realtor can run a Realist Report which names the title company.

Development Site Near Downtown Golden Just Listed by Austin Pottorff

This 14,000-square-foot parcel at 2200 Ford Street in Golden, the site of a automotive business since 1964, is now available for multi-family redevelopment, such as we’ve seen in numerous nearby locations. And this site is better than most, being within walking distance of downtown Golden, the Colorado School of Mines, Golden High School, and multiple open space trailheads. The timing is good because Golden’s 1% limitation on new residential building permits was just voided by state legislation aimed at increasing urban density. Broker associate Austin Pottorff just listed it for $1,950,000 and has produced a drone video of the parcel and its downtown surroundings, which you can view, along with his South Golden listing, at www.GoldenDevelopmentSite.info. For more info, you can contact Austin at 970-281-9071, or email him at Austin@GoldenRealEstate.com.