This solar-powered home at 359 Canyon Point Circle was a model home for the Village at Mountain Ridge, the subdivision west of Highway 93 backing to the Mt. Galbraith Park. (There’s a trailhead to the park’s 5 miles of hiking trails within the subdivision.) It was just listed for $1,595,000. The seller has made many improvements to the home since buying it in 2002, including a total renovation of the gourmet kitchen and master bathroom, plus adding 11.5 kW of solar panels which meet all the electrical needs of the home. The main-floor deck was also completely rebuilt with composite decking, metal railings and a breakfast bar for enjoying the sunrises over South Table Mountain and the City of Golden, which are visible even from the walk-out basement. A walking path near this home allows children to walk safely to Mitchell Elementary School via a pedestrian bridge that crosses the highway. To appreciate all the features of this 5-BR/4½-bath home, take the narrated video tour (with drone video) at www.MountainRidgeHome.com, then come to the open house this Saturday, March 11, 11 am to 1 pm.
Tag: Open Houses
The Real Estate Market Is Showing Signs of Revival
Here at Golden Real Estate, we have some anecdotal evidence of a resurgence in the real estate market, which was moribund in December.
On Saturday, Jan. 7th, I held a 2-hour open house at my listing on Bates Avenue. My previous open house at that listing had drawn not a single visitor, so I was quite surprised to have ten sets of visitors that day. All of them were actual buyers, not lookie-loos.
I immediately decided to hold it open the following day, Jan. 8th, and once again it was my most visited open house in recent memory.
I had four prospective buyers from those open houses and this Monday that home went under contract.
A second example of this resurgence came when broker associate David Dlugasch listed a 1960 brick ranch with walkout basement in south Golden/Pleasantview. (It was featured in last week’s ad.) It drew 22 agent showings on the first three days, and it went under contract on Sunday at full price — $798,000, which I frankly thought was a reach.
Although anecdotal, these experiences give me hope for a continued market resurgence in 2023.
Sellers Who Value Their Privacy & Security Can Make Their Home Visible Only to Agents
A recent email newsletter from our Denver MLS, REcolorado, to us members explained how sellers, through their listing agents, can literally sell their homes without their neighbors knowing about it — although your neighbors may ask why so many people are visiting your home, one after another!
To quote that newsletter article, “Whether they are a celebrity, in witness protection, or simply concerned for their safety, protecting the seller’s privacy is the primary concern.”
Although not mentioned in that article, it starts with the yard sign. There’s no requirement that you have a real estate sign in your front yard.
As you probably know, Realtor.com, Zillow, Trulia, Redfin, NextDoor and virtually every real estate website downloads its listings from the MLS, but your listing agent can opt out of such syndication, which also keeps it off REcolorado.com except for its logged-in members. However, the listing will still be emailed to buyers who have alerts set up by their agent.
There are lesser degrees of privacy available. For example, a seller may be okay with displaying their home on public-facing websites, but only allow logged-in agents to see their address. That’s another option available to agents when they enter a listing on REcolorado.
Sellers also, of course, can dictate what interior pictures are shown of their home — or ask their agent to have no interior pictures at all.
As you probably know, it is recommended that sellers leave their home during showings and inspections, but I’ve had sellers who insisted on staying home during showings.
Recently, I had a husband and wife who insisted on being present for my open house. That’s okay, although unusual. The husband worked from home and insisted on keeping his home office locked to all visitors. We had a picture of his office on the MLS, and it was included in my video tour, but during showings a picture of the room’s interior was posted on the locked door to his office.
If you have video cameras installed inside and outside your home, that’s okay, too. To comply with privacy laws, you only need to post a warning sign visible to all visitors that video and audio surveillance is in use at this property. Adding that warning to the “broker remarks” on the MLS provides proof that you did notify all visitors, through their agent, of the video and audio monitoring present in your home. (The MLS system keeps a record of each and every change to the MLS listing, allowing you to prove that the warning was there from the beginning and not added later.)
If you don’t want your agent to install a lockbox containing the key to your home, that can be arranged. Just have the showing instructions say, “Seller will let you in and then step outside during the showing.”
Speaking of lockboxes, I recommend against the kind of lockboxes with dials, because anyone can look at the lockbox while it is open and see what the code is. That’s why we only use lockboxes with push buttons.
Electronic lockboxes are becoming more common in our market. The most common brand is SentriLock. Electronic lockboxes record the time when each agent enters and leaves the home, and showing agents can only use their access code for the approved date, not come back a second time without asking for a second showing.
Normally, we don’t tell the seller the code to the lockbox, because we don’t want the seller to give that code to a friend or cleaning person without our knowledge. However, I have on occasion given that code to a seller who wants to remove the key overnight.
I don’t want readers to get the impression that security is a big problem in our market. In two decades of listing homes, I have never had an incident where a visitor (including at open houses) stole something from one of my listings. Every licensed real estate agent has been fingerprinted and had a criminal background check done on them when they were licensed. They could lose their license and livelihood if they were later convicted of a felony. They would also put their license in jeopardy if they were to give a lockbox code to a buyer.
It should be noted that our showing service, ShowingTime, makes sure that no unlicensed person is able to get showing instructions for our listings. When an agent calls to set a showing using their own phone, ShowingTime knows from Caller ID which agent it is so they don’t have to check if they’re licensed. (They greet me by name when answering my calls.)
ShowingTime offers several options for allowing showings of your home. You can specify what hours you want to block showings, and these rule can vary by date or day of the week.
You can also specify lead time for showing requests. One hour is a common lead time requirement, but some listings require prior day notice. In other words, your listing agent can pretty much set any rule you want regarding showings, and that rule is computer enforced, meaning the rules will not be violated due to human error.
Do you have other concerns?
Just Listed: 4-Bedroom, 2-Bath Brick Ranch in Arvada
This 1963 brick ranch has been lovingly maintained, although not particularly updated, since it was purchased by the seller in 1973. Most of the hardwood flooring throughout the main floor has been covered over the years by wall-to-wall carpeting, but the carpet has been removed from the main-floor bedrooms so buyers can see it. The full basement has a non-conforming 4th bedroom, 3/4 bathroom and laundry, plus a full-width family room. The name of the subdivision is Allendale, which is located east of Ward Road and south of 64th Avenue, making it super convenient to shopping as well as Interstate 70, while being an extra quiet neighborhood. You’ll hear no highway noise from your front or back yard! You can take a narrated video tour of this home, inside and out, and see all the interior photos at www.ArvadaRanch.info, then come to our open house this Saturday, October 24th, 11am to 2pm.
Some Home-Selling Advice Is No Longer Valid; Let’s Review the Literature…
On January 30th, Realtor.com published an article with the catchy headline, “That’s So 2018! The Most Outdated Home Selling Advice You Should Now Ignore.” I found it interesting to compare the author’s conclusions with my own opinions, many of which I have shared here before. Here is the author’s list of outdated home-selling advice that should be ignored, along with my response to what she wrote:
1) Wait for spring to sell your house. I have written numerous times that winter can be the best time to sell a home, and it’s nice to see how other real estate writers have reached the same conclusion, albeit only recently. The writer for realtor.com made the same arguments I’ve been making for years — that there are fewer competing listings at this time of year, yet there are still many active buyers.
2) Price your home high and leave room to negotiate. This, for sure, is not your best strategy in a seller’s market and even less so in a balanced market like we’re beginning to see in many areas. One agent she quoted in her article said it well: “If you’re not priced at the market, or at least very close, you’re not going to get that many people in the door to begin with. Price your property to sell.”
3) Sell your home as is. The writer said this may have been true in the now-fading seller’s market, but argues that today’s millennial buyers in particular want a home that doesn’t need any work done on it. I addressed the topic of what you should and should not do in last week’s column. Read it at www.JimSmithColumns.com or at www.GoldenREblog.com.
4) Amateur photos of your home are fine. The writer states that your smartphone pictures may have been all you needed during the seller’s market, but that you now need to invest in professional pictures. When it comes to high quality images, Golden Real Estate agents used magazine-quality HDR photos on all listings throughout the seller’s market, so this comment doesn’t apply to us. However, the writer also promoted 3D tours of the home such as those using Matterport equipment, but I’m not a fan. At Golden Real Estate, we believe it’s much more useful to produce a narrated video tour of a property. We’ve been doing narrated video tours for a decade or more and continue to be surprised how few other brokers have adopted the practice. And the Osmo camera we recently purchased makes those videos even more professional-looking. It’s equivalent to using a movie-quality Steadicam!
5) Holding an open house is a must. The writer says open houses only serve the broker and not the seller, but I disagree. You’ll notice that almost every listing we feature in this weekly ad mentions an open house. Since we price our listings to sell, these open houses serve to magnify buyer interest in our listings. (Indeed, the listing I closed last Friday was to a buyer who came to our open house.) Open houses also fit into our strategy of not selling listings in less than 4 days. Our time-tested process is to put a listing on the MLS on Wednesday, advertise it on Thursday (with an open house), and to advise agents and buyers who submit early offers that the seller will wait until after the open house to choose the buyer. Using this strategy, prospective buyers typically bid up the price, which is an obvious benefit to our sellers. An example is last week’s sale of our Wheat Ridge listing for $561,000, which sold on that 4-day schedule for $36,000 over its listing price.
Holding open houses also fits into our belief that you never know what will sell a house, so you should try everything.