The First Decade

The other day I was searching for my daughter’s cell phone number – which I haven’t memorized because I simply speed-dial it – and I realized it’s been years since I memorized anyone’s phone number. And this was just after I’d booked a flight online and selected my seat, and downloaded some new music into my iPod.

It occurred to me that these are just three examples of the tremendous changes that have happened just since the new millennium began. At the beginning of this decade, iTunes, YouTube and Facebook did not exist. Today, their combined daily views and downloads are in the billions.

An article in Newsweek a few months ago highlighted how much things have changed in a decade. The numbers are staggering and surprising.

    • Ten years ago, a total of 400,000 text messages were sent per day; today 4.5 billion are zinging through cyberspace every day.
    • In 2000, 12 billion emails were sent each day; today 247 billion are sent daily (many of which were in my spam filter this morning).
    • Ten years ago, about 208 billion letters were mailed through the postal system each day; today the number of letters mailed daily is less than 176 billion.

This decade has been tumultuous, to say the least. Beyond the tremendous technology-driven advances, we are still struggling with this economy. Unemployment rates are too high. Banks are still struggling. And it is heartbreaking that people have lost their homes.

Even though there is a lot of uncertainty, I remain optimistic. I am realistic enough to know that this recovery will take awhile. But recover we will.

One thing that hasn’t changed in the past decade is the resiliency of real estate over time. When you look at median single-family home prices ten years ago versus this year, you’ll see that home values have increased since 2000. This is encouraging, especially when you consider that the stock market today is the same place it was 10 years ago. For most people, their home is worth more today than when they bought it. It might be worth less than it was two or three years ago, but real estate has never been about day trading. It’s a long-term investment. And if the last 10 years, or 100 years, are any indication, we can count on growth in home values.

And that’s a good thing.

July Median Home Prices* 
2000

2010

National
$151,100
$182,600

*Source:  NWMLS

What are some of the most memorable changes for you in the past decade?

Posted on March 11, 2019 at 3:30 pm
John Taylor | Category: Housing Trends | Tagged , , , ,

How’s 2019?

A lot of our clients are asking how 2019 is starting off.

Here’s one thing we notice…

There are more homes to choose from, which is great news for buyers.

In January alone 4,821 homes came on the market in Metro Denver.

That is a 14% increase compared to one year ago.

At our annual Market Forecast, we predicted a more balanced market in 2019, so far it looks like we are trending that way.

________________________________________________________________________________________

Below is the recap of our Denver Annual Market Forecast!

Posted on February 12, 2019 at 10:59 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , ,

Blinds or Curtains? Or Both? Top Things to Consider When Choosing Your Window Style

Some rooms just need blinds, other rooms just need curtains, and then some rooms look best with both. But how do you decide which rooms need what? There are a number of factors to consider when you’re picking window treatments for rooms in your house, from price to insulation to style to orientation within the room.

 

Price

Adding a combination of blinds and curtains on your windows may seem like the best idea for almost any room in your home. But that can get pricey. Basically, you’re doubling up the cost of the treatments for each window. So when you’re deciding on a budget for your treatments, be methodical. Guest bedrooms, laundry rooms, bathrooms, or any uncommon, informal areas in your home are good candidates for either blinds or curtains, not both—you likely don’t spend much time in these spaces, they don’t need to be the most styled part of your home and/or they don’t require a high level of privacy. Save the money on these areas and choose a treatment that gets the job done. On the other hand, living areas, formal dining rooms and master bedrooms are places where a combination of both can add ultimate style, privacy and temperature comfort, and it could be worth the money to invest in these high-impact areas.

 

Insulation

Sunlight can be a blessing and a curse for your home. It can fill living areas with wonderful natural light. It can liven up dining areas or kitchens. But, harsh sunlight can also heat up a room late in the afternoon, it can fade furniture, or it can wake you up too early on the weekends. When it comes to blocking out the sun, faux wood blinds and heavier curtains should be considered. Wood blinds or faux wood blinds block out a great deal of sun, but not all of it. If you want complete darkness to grab a few more winks on weekends, add some curtains over the binds to double up the sun defense. Consider the positioning of the windows throughout the house and protect the windows and rooms that bear the brunt of the sun, while making it easy for natural light to shine through when you want it.

When it comes to curtains and shades, there are a number of sun-blocking options. Cellular shades filter out the sunlight while still letting enough natural light into the room. Roman shades, sheer shades, and curtain fabrics all have different thicknesses, which block out different levels of UV rays and sunlight. If your living room faces west, you will certainly want some thicker shades to block out that evening sunshine and keep the temperature in the room manageable.

 

Style

Just about any style under the sun is available when it comes to choosing window treatments. Gone are the days when curtains were the only way to add style, warmth and luxury to a room. Many options in shades and blinds can achieve the same effect.

Whichever you choose, you want the window treatments to accent the furniture in your room, not vice versa. For example, if your furniture is heavily patterned, choosing solid colors for blinds and curtains is the way to go. If your furniture is solid, light patterns and designs could accentuate certain colors or themes in the room. Keep theme and tone in mind: You wouldn’t choose earthy bamboo shades for a room with a sleek, industrial vibe, or beachy plantation shutters for a room with a modern artsy feel.

Choosing the proper window treatments for each room in your home comes down to a handful of factors. Don’t break the bank or overspend where you don’t need it, make sure you know where the sun is most intrusive in what rooms, and go with a style that fits the vibe of your home. Blinds and curtains can complete the look of a room, and make it feel like home.

 

 

Katie Laird is the Director of Social Marketing for Blinds.com and a frequent public speaker on Social Media Marketing, Social Customer Care and profitable company culture. An active blogger and early social technology adopter, you can find her online as ‘happykatie’ sharing home décor, yoga, parenting and vegetarian cooking tips. If you’re interested in window blinds like those described by Katie, please go to the Blinds.com website.

Posted on January 25, 2019 at 3:30 pm
John Taylor | Category: Housing Trends | Tagged , , , ,

Investing In a Green Home Will Pay Dividends In 2019

As we step forward into 2019, eco-friendly “green homes” are more popular than ever. Upgrading your home’s sustainability improves quality of life for those residing in it, but it is also a savvy long-term investment. As green homes become more popular, properties boasting sustainable features have become increasingly desirable targets for homebuyers. Whether designing a new home from scratch or preparing your current home for sale, accentuating a house with environmentally-friendly features can pay big dividends for everyone.

While the added value depends on the location of the home, its age, and whether it’s certified or not, three separate studies all found that newly constructed, Energy Star, or LEED-certified homes typically sell for about nine percent more than comparable, non-certified new homes. Plus, one of those studies discovered that existing homes retrofitted with green technologies, and certified as such, can command a whopping 30-percent sales-price boost.

There are dozens of eco-friendly features that can provide extra value for you as a seller. To name a few:

 

Cool roof

Cool roofs keep the houses they’re covering as much as 50 to 60 degrees cooler by reflecting the heat of the sun away from the interior, allowing the occupants to stay cooler and save on air-conditioning costs. The most common form is metal roofing. Other options include roof membranes and reflective asphalt shingles.

 

Fuel cells

Fuel cells may soon offer an all-new source of electricity that would allow you to completely disconnect your home from all other sources of electricity. About the size of a dishwasher, a fuel cell connects to your home’s natural gas line and electrochemically converts methane to electricity. One unit would pack more than enough energy to power your whole home.

For many years, fuel cells have been far too expensive or unreliable. But as technology has improved, so too has reliability. Companies like Home Power Solutions and Redbox Power Systems have increased the reliability of these fuel sources while reducing their size. Much like we’ve seen computers and cell phones shrink in size while improving reliability and power, fuel cells continue to be refined.

 

Wind turbine

A wind turbine (essentially a propeller spinning atop an 80- to 100-foot pole) collects kinetic energy from the wind and converts it to electricity for your home. And according to the Department of Energy, a small version can slash your electrical bill by 50 to 90 percent.

But before you get too excited, you need to know that the zoning laws in most urban areas don’t allow wind turbines. They’re too tall. The best prospects for this technology are homes located on at least an acre of land, well outside the city limits.

 

Green roof

Another way to keep the interior of your house cooler—and save on air-conditioning costs—is to replace your traditional roof with a layer of vegetation (typically hardy groundcovers). This is more expensive than a cool roof and requires regular maintenance, but young, environmentally conscious homeowners are very attracted to the concept.

 

Hybrid heating

Combining a heat pump with a standard furnace to create what’s known as a “hybrid heating system” can save you somewhere between 15 and 35 percent on your heating and cooling bills.

Unlike a gas or oil furnace, a heat pump doesn’t use any fuel. Instead, the coils inside the unit absorb whatever heat exists naturally in the outside air, and distributes it via the same ductwork used by your furnace. When the outside air temperature gets too cold for the heat pump to work, the system switches over to your traditional furnace.

 

Geothermal heating

Geothermal heating units are like heat pumps, except instead of absorbing heat from the outside air, they absorb the heat in the soil next to your house via coils buried in the ground. The coils can be buried horizontally or, if you don’t have a wide enough yard, they can be buried vertically. While the installation price of a geothermal system can be several times that of a hybrid, air-sourced system, the cost savings on your energy bills can cover the installation costs in five to 10 years.

 

Solar power

Solar panels capture light energy from the sun and convert it directly into electricity. Similarly to wind turbines, your geographical location may determine the feasibility of these installments. Even on cloudy days, however, solar panels typically produce 10-25% of their maximum energy output. For decades, you may have seen these panels sitting on sunny rooftops all across America. But it’s only recently that this energy-saving option has become truly affordable.

In 2010, installing a solar system on a typical mid-sized house would have set the homeowner back $30,000. But as of December 2018, the average cost after tax credits for solar panel installation was just $13,188! Plus, some companies are now offering to rent solar panels to homeowners (the company retains ownership of the panels and sells the homeowner access to the power at roughly 10 to 15 percent less than they would pay their local utility).

 

Solar water heaters

Rooftop solar panels can also be used to heat your home’s water. The Environmental Protection Agency estimates that the average homeowner who makes this switch should see their water bills shrink by 50 to 80 percent.

 

Tax credits/rebates

Many of the innovative solutions summarized above come with big price tags attached. However, federal, state and local rebates/tax credits can often slash those expenses by as much as 50 percent. So before ruling any of these ideas out, take some time to see which incentives you may qualify for at dsireusa.org and the “tax incentives” pages at Energy.Gov.

 

Regardless of which option you choose, these technologies will help to conserve valuable resources and reduce your monthly utility expenses. Just as importantly, they will also add resale value that you can leverage whenever you decide it’s time to sell and move on to a new home.

Posted on January 10, 2019 at 3:30 pm
John Taylor | Category: Housing Trends | Tagged , ,

83 Miles Per Hour

Pretend you have been driving on the Interstate at 100 miles per hour.

Also, pretend you have been doing that for a long time.

Now pretend you slow down to 83 miles per hour.

How would that feel?

It would probably feel slow, right?

83 miles per hour is a 17% decrease from 100. It may feel slow, but it’s still pretty fast.

How does this relate to real estate?

Well, the market has been moving fast for a long time.

It’s been going 100 miles per hour for at least two years (some would argue even longer).

We’ve recently seen a 17% change in terms of number of transactions that are occurring.

There were 17% fewer sales in October 2018 versus October 2017 in Metro Denver.

It feels slow because we’ve been driving so fast for so long. But, our market is still moving.

For example, prices are still up. So, remember, that it’s all relative.

Posted on November 13, 2018 at 4:16 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , , ,

A History Lesson

One of the most common questions we hear from clients is “Where do you think interest rates are going?”

Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work that are pushing rates higher.

So, how about a little history lesson? How do today’s 30- year mortgage rates compare to this same date in history going all the way back to 1990?

• Today = 4.85%
• 2017 = 3.94%
• 2015 = 3.82%
• 2010 = 4.27%
• 2005 = 5.98%
• 2000 = 7.84%
• 1995 = 7.75%
• 1990 = 10.22%

While today’s rates feel high only because they are higher than 2017, they are quite a bit lower than at many times in history.

Posted on October 23, 2018 at 8:29 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , ,

What’s Starting?

Here are some interesting stats from our friends at Metro Study who study new home activity along the Front Range.

• New home starts are up 14% compared to last year – this is really good news and is helping to relieve the shortage of housing inventory

• Every product type saw an increase in starts compared to last year (single family, town-home and condominium)

• Condominiums saw the largest increase in starts by a long shot, up 112% over last year- this is excellent news for first time buyers and those looking for product in lower price ranges.

Posted on October 3, 2018 at 3:30 pm
John Taylor | Category: Housing Trends

Generational Trends in Home-Buying

When making an important decision like buying a new home, personal circumstances are often a driving force. Whether you are a first-time homebuyer, need more space for your growing family, downsizing to fit an empty nest, or looking for a retirement property, finding the right information, the right real estate agent, and the right properties that fit your needs are all important parts of that process. Based on recent studies by the National Association of REALTORS®on generational trends, we can identify the best resources to help you in any phase of your life.

Among all generations, the first step most buyers take when searching for a home is online. Younger generations tend to find the home they eventually purchase online, while older generations generally find the home they purchase through their real estate agent.

Across generations, home ownership still represents a significant step in achieving the American Dream. According to a study by LearnVest, an online financial resource, 77 percent of those surveyed believed that buying a home of their own was, “first and foremost in achieving the American Dream”.

How that dream manifests is different for those who have grown up in different eras.

Millennials:

1980-2000

Also known as Generation Y or the Echo Boomers because this generation almost equals the baby boomers in population. This age group is the second largest group of recent homebuyers, representing 28 percent according to the National Association of REALTORS. 79 percent of homebuyers in this age are purchasing their first home. According to the 2012 Trulia American Dream Study, 93 percent of renters in this generation plan on purchasing a home someday.

When considering a home purchase, Millennials (and some Generation X buyers) place a high value on convenience to work, affordability, and the quality of school district. This generation is the most likely to choose an urban center as the location of their first home. According to market research by Gfk Roper, this group is most interested in their home as a social hub, with a focus on entertainment and amenities.

When looking for a real estate agent, Millennials are most likely to looks to friends and family for a referral. They generally place a high value on an agent’s honesty and trustworthiness because they are often relying on their agent to walk them through the home purchase process for the first time.

 

Generation X: 

1965-1979

As the largest group of recent homebuyers, the LearnVest findings suggest that 72 percent of Americans in this generation are already homeowners. They also represent the largest group of home sellers, with a substantial percentage of the group looking to upgrade their home to accommodate their growing families or increase investment. Experts in the real estate industry expect this group to lead in the recovered real estate market.

Generation X households are more likely to have a dual income, with both adult members in the household working. According to a study by GfK Roper, a market research company, this generation placed state-of-the-art kitchens at the top of their priorities, as well as large closets and amenities for organization, since many Gen Xers have children living in their homes. They are less concerned about formality in their home and have less interest in formal dining and living rooms.

 

Baby Boomers:

1946-1964

Interestingly enough, the NAR study finds that as the age of the homebuyer increases, the age of the home being purchased declines. Baby boomers and older buyers are looking for newer construction, with less need for renovations or large maintenance issues. This generation ranks state-of-the-art kitchens, whirlpool baths, walk-in closets, and hobby spaces high on their list of must-haves, according to GfK Roper.

The boomer generation is also looking to the future for both themselves and their aging parents, “fourteen percent of homebuyers over the age of 48 are looking to purchase senior-related homes, for themselves or others” according to the NAR study. Boomer parents are becoming accustomed to (or preparing for) an empty nest, so this group may be downsizing or looking for a home that specifically fits their needs.

 

Silent Generation:

1925-1945

This generation of buyers places a bigger emphasis on finding a home closer to friends, family, and health facilities. While this generation uses the Internet to find their home in the early stages of a home search, they work more directly with a trusted real estate agent to find the home that specifically fits their needs. A home purchase for members of this generation will likely not be a first-time experience so they are less willing to compromise on the price, size, or condition of a home.

This generation is generally more satisfied with the homebuying and selling process because they have been through it before and know what to expect. According to the Trulia American Dream study, this group is also most likely to have realistic assumptions about the cost of a home and mortgage.

Posted on August 28, 2018 at 2:45 pm
John Taylor | Category: Housing Trends | Tagged , ,

Luxury Design, Furnishings and Décor Trends

There is an appreciation of luxury that is quiet, understated, and personal that is gaining momentum in 2017. People want their homes to feel luxurious but also welcoming, warm, and most importantly, authentic. This means creating spaces that feel highly personal with a piece of original art, beautiful accessory, unique lighting or custom furnishing.

Finding pieces that are truly special requires more than visiting local retailers and galleries, so we have assembled a list of distinctive artisan brands that produce one-of-a-kind pieces, from glittering lighting to parchment wall panels and luxury textiles.
 

Based in London and Vienna, KAIA creates refined lighting pieces that combine function and beauty in equal measure. All of the brand’s items are designed exclusively by craftsman Peter Straka and expertly made in KAIA’s Vienna workshop. Their main focus is that the light fixture should always be artful – even when it is not illuminated.

 

Master of luxurious custom-made finishes for furniture and surfaces, Simon Orrell is London’s go-to craftsman for yachts and interiors. From a workshop in London’s Chelsea Design Quarter,  has worked closely with artisans from around the world to create unique furniture and accessories that draw upon historic techniques and materials like shagreen, parchment and shells like mother of pearl. Luxury surfaces have become his specialty, transforming everyday objects into museum-quality pieces.

 

Known for their Lusive© Décor label that provides large scale custom lighting for luxury hotels and casinos, Thomas Cooper Studio is now featuring limited edition collections designed for the home. Manufactured in Los Angeles, using original materials and artisanal processes to create inspired designs, the end result is high function meets high art.

 

Modern design and home furnishings are certainly dominating the interior design scene at the moment but not all homes are suited for the current darling of design. Ave Home, a specialty furniture company based in New Orleans, revives classic design by creating historical reproductions with superb attention to detail. Their collections offer a variety of timeless styles, including French Louis XV, Swedish Gustavian, Hollywood Regency, and the aforementioned Mid Century Modern.

 

Since 1952, Pindler has been perfecting the art of fabric design and development. Some of their signature lines include ornate looks like the Heart Castle Collection to more contemporary looks like the Mirage Collection. Whatever your style – their fabrics are unbeatable in style and quality.

 

After 35 years as an interior designer, Coryne Lovick launched her namesake collection in 2013 with a selection of timeless pieces devised to work in many types of spaces. Like her interiors, the Coryne Lovick Collection is sophisticated, inviting, and is known for exquisite detail and luxe materials.

 

Studio Jackson is a full-service interior design firm based in Los Angeles. In addition to the firm’s thriving consultancy, they are now offering a collection of furniture designed by founder and Principal Designer, Ryan Gordon Jackson. RJ creates designs for a discerning contemporary-minded customer and each piece is handmade by highly trained artisans in their workshop. The collection speaks to Jackson’s design mantra that “Luxury and contemporary design are not mutually exclusive.”

 

Studio Roeper is a California artisan studio dedicated to the creation of custom handmade and finely crafted luxury furniture for private residences, boutique hotels, art collectors and interior designers around the world. All of the slabs and lumber are locally sourced, milled and seasoned in-house at their own sawmill. Their commitment to mixing art with function extends into play with their own handmade skateboards!

Posted on August 13, 2018 at 3:30 pm
John Taylor | Category: Housing Trends | Tagged , ,

How an Investment in Green Technology Can Pay off for Today’s Homeowner

 

Studies continue to show that real estate buyers are willing to pay a substantial premium for homes that feature highly efficient, environmentally friendly “green energy” technology.

While the added value depends on the location of the home, its age, and whether it’s certified or not, three separate studies all found that newly constructed, Energy Star- or LEED-certified homes typically sell for about nine percent more than comparable, non-certified new homes. Plus, one of those studies discovered that existing homes retrofitted with green technologies, and certified as such, can command a whopping 30-percent sales-price boost.

Options include technologies that you may already be very familiar with, as well as some new breakthroughs that may surprise you:

 

Fuel cells

Fuel cells may soon offer an all-new source of electricity that would allow you to completely disconnect your home from all other sources of electricity. About the size of a dishwasher, a fuel cell connects to your home’s natural gas line and electrochemically converts methane to electricity. One unit would pack more than enough energy to power your whole home.

Past fuel cells have been far too expensive and unreliable. But Redbox Power Systems, a company that’s planning to launch its first fuel cell later this year, is using new materials, claims they’ll be able to cut the purchase price by 90 percent, and predicts the associated electricity-bill savings will allow homeowners to pay off that purchase price in just two years’ time.

 

Wind turbine

A wind turbine (essentially a propeller spinning atop an 80- to 100-foot pole) collects kinetic energy from the wind and converts it to electricity for your home. And according to the Department of Energy, a small version can slash your electrical bill by 50 to 90 percent.

But before you get too excited, you need to know that the zoning laws in most urban areas don’t allow wind turbines. They’re too tall. The best prospects for this technology are homes located on at least an acre of land, well outside the city limits.

 

Cool roof

Cool roofs keep the houses they’re covering as much as 50 to 60 degrees cooler by reflecting the heat of the sun away from the interior, allowing the occupants to stay cooler and save on air-conditioning costs. The most common form is metal roofing. Other options include roof membranes and reflective asphalt shingles.

 

Green roof

Another way to keep the interior of your house cooler—and save on air-conditioning costs—is to replace your traditional roof with a layer of vegetation (typically hardy groundcovers). This is more expensive than a cool roof and requires regular maintenance, but young, environmentally conscious home owners are very attracted to the concept.

 

Hybrid heating

Combining a heat pump with a standard furnace to create what’s known as a “hybrid heating system” can save you somewhere between 15 and 35 percent on your heating and cooling bills.

Unlike a gas or oil furnace, a heat pump doesn’t use any fuel. Instead, the coils inside the unit absorb whatever heat exists naturally in the outside air, and distributes it via the same ductwork used by your furnace. When the outside air temperature gets too cold for the heat pump to work, the system switches over to your traditional furnace.

 

Geothermal heating

Geothermal heating units are like heat pumps, except instead of absorbing heat from the outside air, they absorb the heat in the soil next to your house via coils buried in the ground. The coils can be buried horizontally or, if you don’t have a wide enough yard, they can be buried vertically. While the installation price of a geothermal system can be several times that of a hybrid, air-sourced system, the cost savings on your energy bills can cover the installation costs in five to 10 years.

 

Solar power

Solar panels capture light energy from the sun and convert it directly into electricity. For decades, you may have seen these panels sitting on sunny rooftops all across America. But it’s only recently that this energy-saving option has become truly affordable.

In 2010, installing a solar system on a typical mid-sized house would have set the homeowner back $30,000. But today, that price has been slashed to an average of just $19,000. Plus, some companies are now offering to rent solar panels to homeowners (the company retains ownership of the panels and sells the homeowner access to the power at roughly 10 to 15 percent less than they would pay their local utility).

 

Solar water heaters

Rooftop solar panels can also be used to heat your home’s water. The Environmental Protection Agency estimates that the average homeowner who makes this switch should see their water bills shrink by 50 to 80 percent.

 

Tax credits/rebates

Many of the innovative solutions summarized above come with big price tags attached. However, federal, state and local rebates/tax credits can often slash those expenses by as much as 50 percent. So before ruling any of these ideas out, take some time to see which incentives you may qualify for at dsireusa.org and the “tax incentives” pages at Energy.gov.

 

Regardless of which option you choose, these technologies will not only help to conserve valuable resources and reduce your monthly utility expenses, but also add resale value that you can leverage whenever you decide it’s time to sell and move on to a new home.

Posted on July 19, 2018 at 3:30 pm
John Taylor | Category: For Buyers, For Sellers, Housing Trends | Tagged , , ,