Ask the Colorado Dream House Team | The Coloradan and Foreign Investors

Ask the Colorado Dream House Team | The Coloradan and Foreign Investors

Dan Polimino discusses early waitlist opportunities for The Coloradan, foreign investors in luxury real estate, and the Internet’s role in selling your home. 

The Coloradan

  • 334 Units 
  • 19 Stories
  • They WILL Sell Out
  • Only 1% of Foreign Investors are in Colorado

 

Full Transcript

… and apply it to your own particular situation, no matter what town or state or city you’re in. Two objectives we always like to cover in each show. Number one, we like to answer your questions, and number two, we like to give you some information about what’s happening in the Denver market. As always, you’re free to leave a comment here, right here on Facebook, and we’ll take those comments and questions and answer them during the next show. Or, you can email us, team@coloradodreamhouse, or give us a call at 720-446-6325, and if we can ever help you buy, sell or invest in real estate, we’d be happy to do so.

All right, today’s market update is about the new downtown high rise called The Coloradan. Now some of you’ve been following this know about it. It’s another condo development by Slifer, Smith, and Frampton, or East West Partners, some people know them as East West Partners. Slifer, Smith, and Frampton is their real estate division, but it’s going to be a 19-story condo building right looking at Union Station, right across the street from Union Station. In fact, one of the trains from Union Station pulls up to the back of the building, so when you walk out your door at the Coloradan, you can get right on one of the trains and go wherever, wherever you want around the city.

Nineteen stories, 334 units. Everywhere the pricing starts. You can get a studio from about $255,000, all the way up to a penthouse at $3 million. They’ve got one bedrooms and two bedrooms, and you just got to figure out where you want to be in the building. Do you want to be looking west? Do you want a downtown city view? Now we got involved early on in this project with the salespeople at The Coloradan, and we had a lot of our clients express interest in buying a unit there either for themselves or as an investment.

And so for the last several weeks, we’ve been working with our clients and meeting with the salespeople at The Coloradan to talk about getting ready to purchase a unit. Now today was a very important day for buying a unit at The Coloradan. The Coloradan sent out a survey to everyone that was on their buying interested list, and they had over 2,000 people on the buying interested list for only 334 units.

But how it went is, if you were on the interested list, you got an email today that asked you to fill out a short survey. It’s just multiple choice, click, click, click, hit submit. You do it all online, but filling out that survey gave you a priority number, and this is how you’re going to be selected to buy a unit at The Coloradan. They are absolutely, positively going to sell out, so if you missed today’s survey and you did not get a priority number, there’s a good chance you’re gonna be locked out, that you’re not gonna be able to be able to buy a unit at The Coloradan.

However, I want you to know, I am holding a priority number for myself. I may be purchasing or I may not. It just depends. If I find that one of my clients really, really wanted to be in The Coloradan, and they didn’t get in and never got a priority number, I may give you my priority number. So if you’re thinking about buying in The Coloradan, contact me because you would have had to have a priority number today, all right?

Now I’m holding one, so if you need it, call us at 720-446-6325. If you want just general information about The Coloradan, what it is, how it’s gonna go and the whole bit, again, call us. We’re happy to give the information. At this point, we’ve been working on this so long with those folks, we’re experts. I could be one of their sales people by now, I know so much about the building, all right?

That’s today’s market update. All right, let’s get to today’s questions. Dear Colorado Dream House Team, if we want to list our home, can you help us get it ready?

Well, sure, yeah, that’s what we do. We’re kind of a do-it-all real estate group. I mean, we got it. If you need it, we got it. We got a guy who’s a handyman. We got a guy who does carpet, paint, small repair, large remodel. You name it, we got a guy, okay? And all you gotta do is invite us over, talk about listing your home. We’ll go over some things that you may improve or may not improve or do. You know, one of the things we’re really good at is walking through your house with what we call a “buyer’s eye.” We know the improvements that you should make and the ones you shouldn’t spend money on, ’cause you won’t get your money back out.

So let us look through the house. Let us recommend with you some things that we would do to get the house ready, and then let us get all our guys in place to help you get it ready. And we’ve done, like I said, everything. In fact, one of our clients, we had somebody come in and pack the whole house, and it had to go in three different locations. Some of the stuff they were sending to Florida, some of the stuff they were sending to Cleveland, and some was going into storage, but we got it all handled.

And this was a busy mom with three kids who had no time to pack her house. So again, just call us up, let us know what you need. This is what we do. We get your house ready. We get it on the market. We get it sold.

Dear Colorado Dream House Team, I have heard you say that not many foreign investors buy luxury homes in Colorado. Is that true?

That’s absolutely true. You do not get a lot of foreign investors in Colorado. In fact, a recent study from the National Association of Realtors shows that Colorado only accounts for 1% of foreign investment in the United States, 1%.

Now there’s really about five states that accompany … that really account for almost all the foreign investment in this country: Texas, California, Arizona, New Jersey, and Florida. Those are the five states that really account for the majority of foreign investors buying real estate. Again, Colorado only 1%.

So if you’re putting your luxury home on the market and you’re counting on somebody coming from overseas to buy it, probably not gonna happen.

Dear Colorado Dream House Team, how often do you get … or how do you get Internet traffic to turn into showings? We have our house for sale, and we see a lot of people looking at it online, but we aren’t having very many showings. Hear this a lot. Trying to convert from Internet marketing to a showing, to get that to convert to a showing is difficult. And what I’d say is, you got to look at what you’re presenting. Remember, the consumer has to see something online that motivates and moves them. They’ve got to see some pictures that they really, really like in order for them to pick up the phone and call their agent.

They have to see an offer, a compelling offer. Maybe your home is priced so well that it gets people to pick up the phone and call their agent. Maybe your location is just killer and it’s better than everybody else’s. Again, maybe that gets somebody to pick up the phone and call for a showing.

So when we’re trying to take Internet traffic and turn them into showings, there is a recipe for this, and we’ve done it very, very well over the last 10 or 12 years. So again, give us a call at 720-446-6325. Email us or leave a comment here on Facebook.

Hey, don’t forget our 250 marketing guarantee. Here’s what it’s all about. If you’re thinking about listing your home this fall, interview the Colorado Dream House Team and let us present you our marketing plan. Then interview our competition and look at their marketing plan. And if their marketing plan is really better than ours, then you can hire them and I’ll pay you $250. But I don’t think that’s gonna happen, and here’s why I don’t think it’s gonna happen, because our marketing program is so good and has been honed so well to sell your home for the highest price in the shortest amount of time that you’re gonna want to hire us, all right?

It’s that simple. It’s called the 250 marketing guarantee. Go to coloradodreamhouse.com/250 for more details.

All right, that’s it for- it was a busy Tuesday. We had a lot to talk about. We’re back again on Thursday and we’ll see you then. Keep the questions coming!

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