Welcome to today’s show with Dan Polimino where we’ll discuss Denver’s 2018 luxury real estate forecast, ways to buy a new home before selling your current home, and continuing our discussion on the home shortage in Colorado.
All reported sales were not necessarily listed or sold by the broker and are intended only to show trends in the area or shall separately identify the broker’s own sales activity.
Denver’s 2018 Luxury Real Estate Forecast – Full Transcript:
00:01 Hi everyone and welcome today’s show of ask the Colorado Dream House team. I’m your host, Dan Polimino coming to you live from Denver, Colorado. Hope you guys are doing well. Hope you enjoyed president’s Day weekend. We had some time off. I hope you had some time off and again on this show we talk about everything that’s real estate buying, selling, investing. We take your questions and we give you information that you can use in any part of the country, doesn’t matter where you are. This is just good database driven information coming from years and years of experience and thousands of transactions, so we’re glad you’re with us today. At any time, feel free to leave a comment right here on facebook when we may use your comment on the show. We love to get questions or if you just want to talk to us about buying, selling, or investing in real estate, you can do it at seven, two, zero, four, four, six, six, three, two, five or team at Colorado Dream House.
00:56 Well, two things will like to do every show. We’d like to give you some market information. We call it news you can use and we like to answer your questions and today’s news you can use is being incredibly low inventory on Tuesday night, or excuse me, Monday night of this week, an article came out saying that Denver is leading the nation with the fewest number of homes for sale on the market. We’re number one. It’s not actually good. We only have 2,800 homes for sale actively on the market in a city that’s 3,000,000 plus. Think about that. Let that sink in for a second. So this inventory problem, as you know, has been going on for a while and you’ve heard me say it’s not ending any time soon. So what are we doing to help you? Okay, here it is. In order for this whole real estate equation to work, somebody has to sell, right?
01:57 And if nobody sells, we’re stuck. And so what we’re hearing a lot from people is the following. I would sell, but I don’t know where I’m going to go and I need to sell my home and take the money and equity out of it in order to purchase a new home. Okay, let’s take those two things. So what we’re doing right now as we’re saying, let’s not worry about selling your home right now. Let’s just go find you a home and we can do that with the properties they’re active on the market. Again, not many. We can do that with new construction, may not be your bag or we can try to find you an off market property, which we’ve had success doing. You just tell us what neighborhood you want to be in and what price range and we’ll try to find someone who’s willing to sell.
02:45 That’s part one of solving the equation. What about part two? Dan, I need to sell my home in order to get the money out of it. Not necessarily. We’re partnering up with a bunch of lenders where we’re going to pull the equity out of your home very quickly and easily. We’re going to do a 10 day to two week cash out. He Lock, refi or bridge loan. Okay. Ten days to two weeks, we’re going to pull that equity cash out of your house. We’re going to drop it in the bank and we’re going to go use it as a down payment to purchase your new house. When we find your new house, we’re gonna move you in close on it, and then we’re going to. Once you’re out, we’re going to sell your existing house. So really a good way to do it. I’m sure a lot of your thinking.
03:33 Yeah, no, that would be great. If we could do that. Will sell your existing house once your existing house cells. We’ll pay off the primary mortgage and that secondary he lock bridge, loan refi, whatever it may be. Now we’re having good success with this, so if this is something that you want details about, if you want to talk to us and see who we’re partnering with, give us a call at seven. Two, zero, four, four, six, six, three, two, five. All right. That’s news you can use. Let’s get to today’s questions. Dear Colorado Dream House team, I don’t know where to begin with the loan process. Can you help? That’s a big question. Uh, the first thing is, is do you a know a trusted realtor or do you know a trusted mortgage lender start there. If you don’t, well then call us and we’ve got several lenders that we trust that we work with that have a variety of programs.
04:27 And again, you’ll hear me say this over and over again. One of the best services we do for our clients is we find them money solutions down payment solutions, monthly payment solutions, credit repair, you name it. We find money solutions for people. So don’t think that it’s not possible unless you talk to us first. Okay. And when you’ve got a big tall order, like I don’t know where to begin with the loan process, again, call us. I’ll give you the reader’s digest version and kind of step you through quickly about what we’re looking at and what to expect. And then I’ll put you in touch with some people that we really like and really trust in a really good at what they do. Okay, dear Colorado Dream House team, what are your thoughts about the luxury market this year? Then it’s going to be another good year with one caveat.
05:20 If you’re a luxury seller and as you know, the Colorado Dream House team sells a lot of luxury properties. We just closed one last month than the high woods in highlands ranch for about one point 8,000,000. If you’re a luxury seller, it’s imperative that we talk now because we have to have you prepped and ready to go by the third week of March. Our best opportunity is going to be the third week of March through the third week of June and I’ll tell you why when you call me. All right, dear Colorado Dream House team, where do you see the best opportunities in the market? Real simple. If you’ve got some cash sitting on the sideline, the best opportunity in the market right now is for a rental property or investment property. Many of these are not only going to appreciate, but they’re going to have good monthly cash flow and when we take a look at the hard numbers and we start looking at cash on cash return, uh, if we can get 10, 12 percent or more cash on cash return, you’re going to be hard pressed to put your money any place else, right?
06:27 And get that type of investment return. So again, call us at seven, two, zero, four, four, six, six, three, two, five. And we’ll tell you where some of those opportunities are. Last but not least, if you’re thinking about selling again, now is the time to talk to us and you could get $250 just for meeting with us. It’s called our [inaudible] marketing guarantee. I just came back from the Keller Williams annual convention in Anaheim, California on Tuesday and it set up on the screen and big, big letters. The single thing that sellers want more than anything else out of their real estate agent is terrific marketing and we knew that and so that’s why we deliver terrific marketing. We think it’s so good. It’s better than everybody else’s, so here’s our promise, interview us and then interview our competition and if their marketing is better than our marketing plan, you can hire them and we’ll pay you $250. It’s that simple. Check out the details. I’ve included the link right here on facebook, Colorado, dream house.com, forward slash [inaudible]. All right everybody. Have a great week. We’ll talk to you again on Thursday. Today is Thursday. I’ll have a great weekend. We’ll talk to you Tuesday.