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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.
285 Hustler 3 May 30, 2024
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285 Hustler 9 May 30, 2024 Crossword Solution Solution © 2016 King Features Synd., Inc. NEVER WILL I EVER... BY MARC VARGAS • ZAZ@CAMPVARGAS.COM
TRIVIA
1. TELEVISION: What is the name of the community college in the sitcom “Community”?
2. GEOGRAPHY: Which two countries in South America are landlocked?
3. HISTORY: Where did the e ective end of the Civil War take place?
4. U.S. STATES: Which state comes rst alphabetically?
5. FOOD & DRINK: What is an a ogato?
6. MOVIES: Which movie features the character Inigo Montoya?
7. ENTERTAINERS: What is singer/songwriter Taylor Swift’s middle name?
8. ANATOMY: What is the smallest organ in the human body?
9. LITERATURE: Which fantasy novel (later made into an HBO series called “Game of rones”) features a place called Winterfell?
10. GEOLOGY: What is the most malleable metal?
Answers
1. Greendale Community College.
2. Bolivia and Paraguay.
3. Appomattox Court House, Virginia.
4. Alabama.
5. Dessert of ice cream and co ee.
6. “ e Princess Bride.”
7. Alison.
8. Pineal gland.
9. “A Song of Ice and Fire.”
10. Gold.
(c) 2024 King Features Synd., Inc.
FLASHBACK
1. What was “Sukiyaki” about?
2. Who wrote and released “Honky Tonk Women”?
3. Who won the 1989 Grammy Award for Best Female Country Vocal Performance for the album “Absolute Torch and Twang”?
4. Who wrote and released “Every Breath You Take”?
5. Name the song that contains this lyric: “What would I do if she should need me and nd me kissing you?”
Answers
1. e Japanese title of the 1961 song translates as “I Look Up As I Walk.” With the generic lyrics it could have been about lost love, but was instead about holding back tears while having an emotional response to a Japanese security treaty.
2. e Rolling Stones, in 1969. e song ended up in the “Band Hero” video game in 2009 and in the Grammy Hall of Fame in 2014.
3. k.d. lang. Born Kathryn Dawn Lang, lang prefers not to use capitals in the name as a nod to the poet e.e. cummings.
4. Sting, with the Police, in 1983. e song stayed at the top of the chart for eight weeks.
5. “What Will My Mary Say?” by Johnny Mathis in 1963. Originally released in 1961, the song didn’t get much notice until the cover release by Mathis.
(c) 2024 King Features Syndicate
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285 Hustler 15 May 30, 2024 SERVICE DIRECTORY Propane Delivery Plumbing & Heating Water Delivery Solar Towing Tree Service Roofing Painting Landscape / Garden Landscape & Garden Sod, Rock, Mulch, Retaining Walls, Sprinklers, Sprinkler Repair, Flagstone, Fence Repair, Fertilize, Aeration, Yard Clean-Ups, Shrub Trimming/Removal, Rock Removal, Weed Control and Much More! Text or Call 720-982-9155 lawnservice9155@gmail.com Landscaping & Tree Service •Landscaping •Sprinkler Service •Stump Grinding •Tree Removal •Rock and Mulch • Tree Trimming J & M Landscaping & Tree Service Call 720-582-5950 Jmlandservices8@gmail.com Registered & Insured • Free Estimates 303-838-8126 www.RRRoofi ngandSiding.com • Inspections, Consultations • Gutter Systems • Custom Metal Fabrication • All Types of Roo ng SD Senior Discount R & R Roofing & Siding, Inc. 29 years in business Lifetime Warranties Financing options available Gallon Limited Offer Prices are subject to change June Fill-Up Special! GLOBAL PROPANE 303-660-9290 Family Owned Business DISCOUNTS!VOLUME500+ Text “globalpropane” to 22828 for email prices $1.799 • Towing and Recovery Professionals • Serving Evergreen and the Mountain Communities Available 24/7! Follow us on Facebook facebook.com/DJ-towing Main 303.674.0198 • Toll Free 800.664.3886 www.TowingEvergreenCO.com 303-647-3173 www.ValorRoofandSolar.com Residential and Commercial SOLAR SYSTEMS 303-770-7663 www.ValorRoofandSolar.com SOLAR SYSTEMS Residential and Commercial 303-770-7663 www.ValorRoofandSolar.com Local Company Veteran Owned Integrity Focused VOTED BEST ROOFING COMPANY Complimentary Roof Inspections DANA ROE’S: firewoodtologging.com All Phase Tree Services • Firewood: Pine, Aspen, Hardwood Trimming Chipping Tree Climbing Tree Removal Fire Mitigation Defensible Space AG & State Programs • Licensed & Insured 303-838-7377 By Dana Roe Ent., Inc. 43+ Yrs. Experience. Green Mountain Painters • Cedar & Log Home Specialist • Woodpecker Control Coatings • Sandblasting Excellent reviews, licensed & insured For appointment contact: perezpaintingcolorado@yahoo.com or call Hugo Perez 720-298-3496 CLEAN POTABLE WATER FOR: • Pools • Swim Spa • Hot Tubs • Cisterns • Livestock & More • Licensed & Insured Residential & Commercial Locally Owned & Operated Email: hdwatersupplyllc@gmail.com Phone: 720-771-1978 • Website: www.hdwatersupply.com ENVIRO ROOFING & SOLAR FREE ESTIMATES • 303-953-7079 ENVIROROOFING.COM Commercial/Residential Mountain Resident Owned Pac Man Tree Service Tree Removal • Mitigation Chipping • Firewood Krzy Karl: H: 303-838-3942 | C: 720-217-3110
May May 30, 2024 16 285 Hustler
