Metro West Advertiser May 30, 2024

KID’S FREE FISHING DERBY

Will You Be Among the Homeowners Focusing on Enhancing Outdoor Living in 2024?

Among those states which actually have four seasons, Colorado enjoys the best and longest season for outdoor living. When I lived here in my childhood, I recall that the Denver Post had “Climate Capital of the World” as its page one slogan. Denver’s climate was what drove me to return to Coloradoasanadult.Westillenjoy a year-round climate which is least impacted by climate change, with fewer or no hurricanes, earthquakes, tornados, and other natural disasters.

home with a fully tricked-out backyard, and I know my buyers do too. It’s a definitesellingpointandsetsanyhome apart from its competition.

So, it makes sense that Coloradans want to do more outdoor living. I’m finding more and more homes with outdoor kitchens and living spaces, and these are big selling points for any single-family listing.

Above right is a graphic from a 2023 article by the International Casual Furnishings Association which carried the following headline: “In 2023, Americans Will Spend Their Money on Lighting, Rugs, Umbrellas and Other Accessories to Spruce Up Their Backyards, Decks and Patios.”

I must say that I light up when I see a

The article was based on a survey which showed increased interest in backyard amenities by American homeowners. The statistics are in the graphic. In the article reporting on the survey, it was stated that “After two years of pandemic living that motivated many residents to invest in improving the spaces around their homes, there is significant interest in continuing to upgrade their outdoor living setting.” Their website, icfanet.org/news/2023_trend_report, promotes various products to enhance outdoor living, including outdoor bars, a canopied daybed, umbrellas, rugs, swivel rockers, artwork, pottery, pillows and more.

As I write this, there are 67 active REcolorado listings within 20 miles of downtown Denver which include an outdoor kitchen in their public remarks. There are 35 more beyond that 20-mile radius. Send me an email at the address below if you’d like me to share those

The Practice of Real Estate Won’t Change All That Much

The now-famous NAR Settlement of March 15th is now 2½ months in the past long enough for multiple people and “experts” to weigh in on how the practice of real estate will change.

I have attended several events which were touted as answering that question but literally did nothing of the kind. I believe that I have a better understanding of how it will all change as the implementation date of August 17th approaches.

Until then, nothing at all is changing. I just listed a couple homes which will advertise a co-op (buyer’s agent) commission of 2.5%, which is rather typical. There are still listings on the MLS showing 2.8% co-op commissions, and some showing 2.0% co-op, but all of us realize that it’s important to offer a coop if we want our listings to sell.

After Aug. 17th, it will be strictly forbidden for the MLS and websites which get their listings from the MLS Zillow, and every brokerage website, including our own to even hint at a co-op commission. The penalty for doing so is loss of MLS access, which is a career-ending penalty.

Most people think that buyers and agents will have to call each listing agent before showing a home to find out if a co-op is being offered and what the

listings with you, and I’d be happy to arrange a showing. Even if you don’t buy one of those listings, it could give you ideas as to how you might improve your own outdoor living space.

We live in the best place on planet Earth in my opinion, and we want to live life to the fullest, right? Why limit ourselves to wonderful indoor living spaces, when we can also enjoy the the great environment that is outside our walls?

My broker associates and I are here to help you in any way that suits you.

The research for the above chart was conducted by Wakefield Research on behalf of the American Home Furnishings Alliance and International Casual Furnishings Association among 1,000 nationally representative U.S. adults ages 18 and older between January 27-31, 2023.

Guest Article on April’s Real Estate Statistics

By MEGAN ALLER, First American Title

We are seeing a notable shift in the residential market, particularly within the attached property sector. This has been influenced by several key factors that have emerged in recent months.

Key Market Trends for April 2024:

¨ Active inventory has risen significantly, with a 31% increase in units for sale. New listings also saw a 14% uptick.

percentage or dollar amount will be. I watched one video presentation by a local brokerage which suggested that the amount of co-op could vary depending on the listing agent’s opinion of the professionalism of the buyer’s agent, offering 1% to one agent but 2% to another a terrible, likely illegal idea.

Not one person I read or listened to mentioned the printed brochure for a listing. It can easily state in print if a coop commission is offered and what the percentage or dollar amount is. This is no different than those for-sale-byowner listings which say “Co-op Paid.”

My practice will be to write listing agreements with 2.5 to 2.8 percent commissions, but with an additional provision authorizing me to promote on brochures, in this ad, and on listing websites (not connected to the MLS) a 2.0 to 2.8 percent co-op commission. I’m sure any seller will agree to that provision, because failure to do so would mean far fewer showings and offers.

Next Tuesday the Colorado Real Estate Commission will be presented by their Forms Committee with some minor changes to the purchase contract and listing contracts (for both buyers and sellers). I will attend that meeting and write about those changes the following week.

Underwriters are increasingly scrutinizing the financial health of Homeowners Associations (HOAs) due to new lending guidelines. This has led to a rise in HOA dues and special assessments, largely driven by significant increases in master insurance policy costs. For example, some sellers have experienced HOA dues rising from around $300 to over $800. In another instance, an HOA is planning a special assessment of $3,600 annually for the next five years to stabilize their finances. Additionally, many condo communities have let their FHA approvals lapse, complicating the purchase process for first-time and lower entry buyers.

Lenders are also wary of mixed-use commercial/condo communities, viewing the financial burden placed on commercial spaces as a riskier proposition. Consequently, we are seeing a marked shift from condos to single-family detached units. Buyers who might have considered a $500,000 condo with a $1,000 monthly HOA bill are finding better value in singlefamily homes priced around $700,000, offering a more sound investment.

¨ Demand, as measured by pending transactions, decreased by 6.6%, although closed transactions increased by 14% month-over-month.

¨ Months of inventory increased to 2.5 months, reflecting a lagging indicator based on March's contracts.

¨ Attached residential home prices have dropped from last month due to rising inventory and decreased demand. However, prices are still up 1.1% to 2.5% compared to last year.

¨ While multiple offers are less frequent and less intense compared to 20202022, March saw 28.8% of attached units selling over asking price, with an average overage of 2.0%. Many of these homes included concessions to buy down interest rates.

¨ The average days on market decreased to 35 days, with the median days on market dropping to 12 days.

¨ 41.9% of homes were under contract within 7 days, up 3.6% from last month. Homes under contract within this timeframe received an average of 100.5% of their original list price.

WRIGHT

Thelma Yvonne Wright

December 22, 1933 - May 14, 2024

elma Wright, 90 years old, died peacefully in her sleep on Tuesday, May 14 2024. elma is remembered for her many years of service as an obstetrics nurse, as a community activist, and as a hard-working provider for her family.

elma was born to George and elma Kiser on December 22, 1933 in Cedar Rapids IA. She served as a registered nurse for many years. After retiring, elma moved to Brighton, where she was a staple of the community. elma volunteered at Platte Valley Hospital, Berry Patch Farm,

Brighton 27J, Platte Valley Players, and the Brighton Senior Center. She was heavily involved with the UMW at Brighton Methodist Church. Judith Dickinson included her in the Mural “We e People” in the Adams County Administrative Building. She is survived by her four children: Betty Metz (Leland Heathershaw) of Lacey, WA; Steven Wright (Eriko) of Bibai, Hokkaido, Japan; David Wright (Paula) of Muscatine, IA; and Myron Wright (Masako) of Satsunai, Hokkaido, Japan.

Wayne Herman Hintz May 15, 1941 - May 20, 2024

Wayne Herman Hintz, 83, of Brighton died on Monday May 20, 2024 at his home in Brighton, Colorado.

He was born on May 15, 1941 in New Salem, North Dakota to Herman Hintz and Ella (Henke) Hintz. He graduated from High School in rural North Dakota. He married Candace (Meece) Hintz on November 28, 1986 in Washburn, North Dakota.

Grandchildren: Shandra (Ryan) Ozbun, Zachary (Shay) Segelke, Aaron (Bethany) Hergenreter, and Ethan (Kaitlin) Segelke.

Great grandchildren: Madalynn and Derek Ozbun and Colton Segelke

Siblings: Carole (Bob) Poulti, Arlene (Rob) Varville, Eldon (Judy) Hintz, and sister-inlaw Lilly Hintz.

Wayne was a very active member of his Church, Zion Lutheran, serving as an Elder and singing in the choir for many years. He loved spending time with his family and many friends and could often be found doing yard work (his yard was his pride and joy) either at his home or for the church and school or lling in for any needs that the Church had. A truck driver of many years he retired from Silco Oil in May of 2012.

Wayne is survived by his daughter Toni Peterson of Brighton, Colorado and stepdaughter Tonia Keck (Randy) of Dacono, Colorado.

Wayne was preceded in death by his loving wife Candace Hintz, son Wayne (Mickey) Hintz, brother Harlan Hintz, and parents Herman and Ella Hintz.

A memorial service will be held at 11:00am on ursday May 30, 2024 at Zion Lutheran Church , 1400 Skeel Street Brighton, Colorado 80601. e family will be recieving friends in the fellowship hall immediately following the service with a luncheon provided.

Memorial contributions can be made to the music department at Zion Lutheran.

Tabor-Rice funeral home handled the service arrangements

HINTZ

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