1902 Stone Bungalow in Golden Just Listed by Carol Milan

Front Side 1This cozy stone home at 401 Illinois Street sits on a corner lot behind Mitchell Elementary School, a short walk from Clear Creek and downtown Golden. Mature trees complement the beautiful foothills view from the quiet front porch. With lots of natural light, this home is easy to enjoy inside and out. It has been beautifully updated, with 2 bedrooms and 1 bath on the 1,150-square-foot main floor, with another 513 square feet in the cellar. The updated kitchen has granite countertops and stainless steel appliances. Original hardwood floors warm the living room and bedrooms, while the kitchen features updated tile floors. All appliances, even the washer & dryer, are included. The owner has used the home as an Airbnb rental, but you can make it your home!  More pictures, information, and a narrated video tour can be found at www.HistoricGoldenHome.com, or call Carol Milan, 720-982-4941. She’ll hold it open this Sunday, Sept. 2nd, 11 – 2.

 

Coming Soon: Arvada Ranch With Walkout Basement

Picture_by_KathleenThis home at 6535 Balsam Street is in the 1960’s neighborhood known as Scenic Heights. It is a well deserved name for this home which is on a south facing slope with great glimpses of the Front Range amid mature trees. A 1959 example of “mid-century modern” architecture, this home has refinished original hardwood floors, as well as additional hardwood and tile on the main level, plus a large deck and an updated kitchen with stainless steel appliances and granite countertops. The sunny walkout basement is fully finished with its own full kitchen, making  it suitable for a mother-in-law unit. The 2-car garage is extra long, accommodating a nice size workshop and doors to both the backyard  and basement. My co-listor, David Dlugasch, and I expect to make this home active on the MLS on Sept. 5th. More information can be found at www.ArvadaRanch.info, or call David at 303-908-4835.

 

‘Drive Electric Week’ Returns to Golden on September 8th

LogoNational Drive Electric Week, September   8-16, 2018, is a nationwide celebration to heighten awareness of  plug-in vehicles and to highlight the benefits of all-electric and plug-in hybrid-electric cars, trucks, motorcycles, and more. If you’ve ever considered going electric you should come meet and talk to owners (including three Realtors at Golden Real Estate) who have successfully done so. For the past five years, the Golden Real Estate parking lot at 17695 S. Golden Road has been the Jeffco venue for this event. It’s one of nearly 300 events happening this year in all 50 states and in eight of Canada’s 10 provinces. Register at www.DriveElectricWeek.info to be a spectator or to exhibit your own EV at our Golden event. As of now, 21 owners are bringing 12 different models of plug-in hybrids and EVs, including a few Tesla Model 3s.  Our Golden event is Sept. 8, 10am to 3pm.  I’ll be there with my Tesla Model X.

 

‘Good Business Colorado’ Happy Hour This Friday, August 24th

GBC logoI have mentioned before that I’m a founding member of this progressive business organization which lobbies for a strong economy, sustainable environment and thriving communities in Colorado. See if Good Business Colorado is a fit for you at a happy hour event this Friday, Aug. 24th, at Illegal Pete’s, 270 S. Broadway, 4:00 to 6:30 pm.  RSVP to me at 303-525-1851 or Jim@GoldenRealEstate.com if you’d like to attend as my guest.

 

Statistics Suggest That the Real Estate Market May Be Slowing Down, But Only Marginally

A recent report by ShowingTime, one of the nation’s biggest showing services, indicated that real estate showing activity in the western states has slowed by 6.9%, while increasing 0.2% nationwide.  But that’s only one study by one company.  And while ShowingTime might be a major player on the national stage, the Denver market is dominated by Centralized Showing Service (CSS). I searched their website for statistics on this subject.

According to CSS, showings of listings in Jefferson County — based on an analysis of eight diverse ZIP codes — are up by 30% this summer (June 1 through August 21) over the same period in 2017. Denver was even more active, with showings up 40% over that same period last summer.

Despite that surge in showings, REcolorado, our metro area MLS, shows that sales are not increasing, but are showing barely any let-up from the previous four years, as shown in these two charts:

Jeffco_sales_per_month_2012-2018

Denver_sales_per_month_2012-2018

The agents at Golden Real Estate have observed a slowdown in sales activity in recent weeks, and that slowdown is reflected in the fact that as of this Tuesday there were only half the number of sold listings in Jefferson County and Denver as there were in all of August 2017, suggesting the figure will be down somewhat when this month closes out next week.

I’m often asked whether we’re about to see an end to this seller’s market, and my reply is in the negative. This is due primarily to the shortage of new homes and condos being built, while the net in-migration of people moving to Colorado (primarily to our metro area) from other states remains quite high.  The housing market has no immunity against the law of supply and demand, and as long as there are more people relocating to our area than there are homes being built, we’re going to remain in a seller’s market. This more-people-than-homes scenario means many would-be buyers have been forced to rent.   Rental apartments, which have been built in great numbers throughout the metro area, are absorbing most of these would-be buyers..

Prior to, say, 2012, those apartment buildings would have been built as condominium projects, but condo construction dropped nearly to zero in recent years because of the state’s construction defects law.  In 2017, new legislation reduced the legal and insurance risks associated with building condos, so that trend toward building apartments instead of condos is gradually abating, and after the mandatory six years of “repose,” many of those apartment buildings may be converted to condos.

The MLS is limited in its ability to show how many condos have been built and sold since the change in the construction defects law, because condo sales by builders are not typically reported on the MLS, meaning they can be found only by searching public records.

Even with the coming resurgence of condo construction, the fact remains that many would-be buyers are stuck in rental apartments because of the continuing overall shortage of homes for sale.  Any increase in the number of homes on the market has been wiped out by an increase in the number of sales.  For this reason, inventory levels have remained at either one or two months since January 2014.

Conventional wisdom says that May through July is the “selling season” for homes, primarily because of families not wanting to move during the school year. However, I would suggest that real estate sales are no longer seasonal and that May through July should be thought of as the listing season instead of the selling season, if only because so many sellers believe that it’s the best time of year to list their home. Nowadays winter is the best time to list a home for sale, because there are just as many buyers but fewer listings, because other sellers are waiting for the “selling season.”

 

Learn about Good Business Colorado

Dear friends,

As you may already know, Golden Real Estate is a founding member of Good Business Colorado, and we’re holding an event called the GBC Summer Happy Hour next Friday.

Come and enjoy happy hour with me and other founding members of Good Business Colorado on Friday, August 24th, 4:00 to 6:30 p.m., hosted by Illegal Pete’s at 270 S. South Broadway (northeast corner of Alameda & Broadway). Meet current members, along with other responsible business owners from around the metro area, and hear more about this exciting new business group. Chips and salsa will be provided for snacks!

You can also learn more about GBC (and why I love its mission) at www.GoodBusinessColorado.org.

Can you join me? Click here for details and to RSVP: https://actionnetwork.org/events/gbc-summer-happy-hour-2?source=email&

 

Thieves caught on camera taking Golden Real Estate’s snowblower

Just after sunset on April 10th, two men drove directly to the back of our building, loaded our Sears 2-stage snowblower into the back of their Nissan 4×4 Crew Cab and drove off — all in 90 seconds. Please watch the video, then call Golden police officer Travis Novak at 303-384-8041 if you recognize them.