Hi all!  If you've hit the big 5-0 and are eyeing that spacious family home with a mix of nostalgia and "maybe it's time for something different," you're in good company. I'm in that stage myself.  Here are some of my thoughts on why downsizing can be your ticket to a new chapter in life, and how to make it feel like a breeze.

Why Downsize? It's a Bit Like Spring Cleaning for Your Life

  1. First off, why do we consider downsizing? Well, think of it as a massive spring cleaning session for your life. Remember that basement filled with boxes you haven't opened since who knows when? Downsizing helps you declutter your living space and, as a bonus, your mind.
  2. Financial Freedom with a Side of Adventure: Downsizing means a smaller mortgage, lower utility bills, and maybe even some extra cash in your pocket. It's like finding money in the couch cushions every month. That extra cash could fund that cross-country road trip or help you finally take up scuba diving in the Caribbean. (That’s where my extra money would go!)
  3. Less Maintenance, More Fun: Your current home might feel like it needs a staff to keep up with the maintenance. Smaller homes often mean less mowing, fewer leaky faucets, and more time for you to hit those Colorado mountain biking trails or whatever hobbies you fancy.
  4. The Age-Proof Home: As we mature, we appreciate homes designed with a little extra thought. Downsizing can mean finding a home with fewer stairs, wider doorways, and accessible amenities that make life easier and safer.
  5. Say Bye-Bye to Clutter: Remember those knick-knacks that seem to multiply on their own? Downsizing forces you to Marie Kondo your life. Keep what sparks joy, and let the rest find new homes or new owners.
  6. New Adventures Await: Downsizing isn't just about a smaller space; it's about a different lifestyle. Maybe you've always dreamed of city living, or perhaps you want to nestle down in the Rockies. Downsizing opens the door to new adventures and experiences.
    Let's Get Practical: Navigating the Downsizing Process

Now, let's talk about how to make this downsizing gig work:

  1. Start the Journey Early: This isn't a last-minute decision. Start thinking about it well in advance. It's like planning a cross-country road trip; the more you plan, the smoother the ride.
  2. Goals Are Your North Star: Know why you're downsizing. Are you chasing financial freedom, simplifying life, or itching for a new adventure? Your goals will be your guiding star.
  3. Downsize Your Stuff: Channel your inner minimalist. What do you really need? What can find a new home or a new owner? Downsizing isn't just about space; it's about lightening the load.
  4. Call in the Pros: No, not the moving company yet. Reach out to a real estate agent who is familiar with downsizing. We’re like your GPS on this adventure, helping you navigate the real estate market and find the perfect spot.
  5. Dream of Your New Space: Imagine how you'll use your new space. It's like designing the perfect campsite. Think about what layout and features will make you happiest.
  6. Embrace the Change: Sure, it can be emotional. Saying goodbye to your old home can be like parting with a trusted friend. But remember, you're not losing; you're gaining new experiences and a fresh start.

In Closing: Downsizing, the Next Great Adventure

So, my fellow 50+ adventurers, remember this: downsizing is like trading in your old hiking boots for a brand-new pair designed for the terrain you want to conquer now. It's a chance to simplify, declutter, and embrace new opportunities. Take your time, set your sights on the horizon, and let the journey begin. Your next great adventure is just around the corner, and I'm here to help you find the perfect launching pad. Happy downsizing, folks!


Thanks for reading.  Remember, I don't know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch - you can find my contact form here.  Also, please sign up for my monthly Neighborhood News newsletter for real estate information on your local area and my Homebot home digest for monthly information specific to your home.

If you think you may sell your home soon, as in this winter, now is a great time to take some exterior pictures.


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, feel free to sign up here for my monthly “Neighborhood News” newsletter for real estate information on your local area.

Here’s a short 7 minute video by Windermere’s Chief Economist discussing Harvard’s The State of the Nation’s Housing report.

https://www.facebook.com/watch/?v=108332015669201


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, please sign up for my monthly Neighborhood News newsletter for real estate information on your local area and my Homebot home digest for monthly information specific to your home.

Here's a short post showing real estate stats from last month in the Denver south metro area.  This info comes to us from the South Metro Denver Realtor's Association.

Just like May's report, our market is still not as active as it was a year ago.  Listings are down over 26% and sales are down about 20% from June of 2022.  The median sales price is about 4% lower than last year at about $597,000.   Days on the MLS and weeks of inventory have both increased over last year as well.

It's interesting to see that, just like last month, even though median sales price has dropped from a year ago, it is up since January - by about 15%.  To me, that means that buyers may not want to wait on the sidelines hoping for a large price correction.  Inventory is still down, but it doesn't seem to be resulting in a seller's market.  Of course, I don't know what the future holds in terms of inflation, the economy, etc., so things may change next month.

Drop me a line if you want to talk about these numbers.  Have a great week!

 


Thanks for reading.  Remember, I don't know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch - you can find my contact form here.  Also, feel free to sign up here for my monthly "Neighborhood News" newsletter for real estate information on your local area.

Are you considering purchasing a large property with an acreage of 1 or more? Owning an expansive piece of land certainly has its allure, but it’s crucial to understand both the benefits and drawbacks before taking the plunge. In this blog post, I will outline some of the pros and cons of owning large properties of 1 acre or more. Let’s delve into the world of acreage ownership!

Benefits of Owning Large Properties

  1. Ample Space and Privacy

One of the primary advantages of owning a large property is the abundant space it provides. With an acre or more at your disposal, you can enjoy privacy and seclusion, sometimes even when you are only minutes away from the hustle and bustle of city life. This allows you to create your own oasis and enjoy outdoor activities such as gardening, farming, or simply relaxing in the tranquility of nature.

  1. Potential for Development and Expansion

Large properties offer great potential for development and expansion. If you have a vision for building your dream home, establishing a family compound, or even starting a business, the extra acreage gives you the flexibility to bring your ideas to life. It also allows for the addition of various amenities like swimming pools, guesthouses, or recreational areas, enhancing the overall value of your property.

  1. Investment and Financial Opportunities

Investing in large properties can be a lucrative venture. As urban areas expand, the demand for land and housing also increases. Owning sizable acreage can provide you with investment opportunities, whether it’s through selling the land in the future at a higher price, subdividing and selling parcels, or leasing the land for agricultural purposes. And, having a large property can also provide potential tax benefits, depending on local regulations.

Drawbacks of Owning Large Properties

  1. Maintenance and Upkeep

It’s important to consider the maintenance and upkeep required on a large lot. Larger properties typically demand more time, effort, and resources to maintain. The tasks involved, such as mowing, landscaping, and repairing fences, can be labor-intensive and costly. Additionally, if you plan to use the land for agricultural purposes, such as farming or raising animals, it requires even more commitment and knowledge to manage effectively.

  1. Higher Costs

The purchase price of large properties is generally higher than that of smaller lots due to the increased size. Beyond the initial cost, you need to account for ongoing expenses like property taxes, utilities, and insurance, which can be more substantial for larger properties. If you plan to develop or improve the land, construction costs can also be considerable. It’s essential to carefully evaluate your budget and financial capabilities before committing to such an investment.

  1. Distance and Accessibility

Living on a large property often means being located farther away from urban centers and amenities. While this can provide peace and solitude, it may also entail longer commutes for work, shopping, or accessing essential services. Consider the proximity of schools, healthcare facilities, and other conveniences you rely on, as these factors can significantly impact your lifestyle and daily routines.

Conclusion

Owning a large property of 1 acre or more comes with a unique set of benefits and drawbacks. The ample space, privacy, and potential for development are enticing advantages that can enhance your lifestyle and provide financial opportunities. However, the responsibilities and costs associated with maintenance, upkeep, and potential distance from urban centers should not be overlooked.

Ultimately, the decision to invest in a large property depends on your personal preferences, financial situation, and long-term goals. Consider the pros and cons carefully, and if you decide that a large property aligns with your aspirations, it can offer you a world of possibilities and a haven of tranquility.

Take a look at a couple of my previous posts about large lots in Lakewood and Littleton.


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, please sign up for my monthly Neighborhood News newsletter for real estate information on your local area and my Homebot home digest for monthly information specific to your home.

I am excited today to write a bit about the picturesque town of Morrison, CO. Nestled in the foothills of the Rocky Mountains, Morrison offers a unique blend of natural beauty, cultural heritage, and a vibrant community. In this blog post, I will uncover the enchantment of Morrison and why it has become a sought-after destination. Join me as we explore the captivating features and attractions that make Morrison a remarkable place to live and visit.

Natural Beauty and Outdoor Recreation:

Morrison is renowned for its breathtaking natural beauty. With towering red rock formations and lush trees along Bear Creek, the town offers a scenic backdrop for outdoor enthusiasts. The nearby Bear Creek Lake Park provides ample opportunities for hiking, biking, fishing, and boating, allowing residents to embrace an active and adventurous lifestyle in the great outdoors.  The town is also very convenient to the c-470 trail, which opens up a huge list of destinations for your cycling adventures from a short around Bear Creek Lake to an adventure into downtown Denver.  Here’s one of my favorites!

Historic Red Rocks Park and Amphitheatre:

One of the crown jewels of Morrison is the world-famous Red Rocks Park and Amphitheatre. This iconic venue, carved into the red sandstone cliffs, hosts breathtaking concerts and events against a backdrop of natural splendor. Visitors can explore the Visitor Center, hike the picturesque trails, and experience the unique acoustics that have made Red Rocks Amphitheatre legendary.  Check out their events calendar and make some plans!

Quaint Downtown and Unique Shops:

Morrison’s quaint downtown area exudes small-town charm and is home to an array of unique shops, boutiques, and local eateries. Stroll along Bear Creek Avenue and discover a treasure trove of interesting stores and charming cafes. The town’s welcoming atmosphere and locally-owned businesses create a vibrant community hub for residents and visitors alike.

Rich Cultural Heritage:

Morrison boasts a rich cultural heritage that adds to its allure. The Morrison Natural History Museum showcases the area’s geological and paleontological significance, including fascinating exhibits on dinosaurs and local fossils. The town’s historic buildings and landmarks, such as the Morrison Historic Schoolhouse, provide a glimpse into its past, preserving the town’s unique character and sense of history.

Proximity to Denver and Mountain Getaways:

Located just a short drive from Denver, Morrison offers the perfect balance between city access and mountain serenity. Residents can easily commute to the city for work or entertainment while enjoying the tranquility of mountain living. Additionally, Morrison’s proximity to popular mountain getaways like Evergreen and Conifer allows for weekend escapes filled with hiking, skiing, and exploring the beautiful Colorado Rockies.

Conclusion:

Morrison, CO, captivates visitors and residents with its natural beauty, cultural heritage, and small-town charm. From the majestic Red Rocks Park and Amphitheatre to the quaint downtown area filled with unique shops, Morrison offers a lifestyle that embraces Colorado’s outdoor splendor and rich history. As a knowledgeable Lakewood Realtor, I am here to assist you in finding your dream home in Morrison and guide you through the real estate opportunities this remarkable town has to offer.  Be sure to check out some of the homes for sale in the new Red Rocks Ranch development!


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, please sign up for my monthly Neighborhood News newsletter for real estate information on your local area and my Homebot home digest for monthly information specific to your home.

“Have you talked to a lender?”  This is a common question buyers hear from real estate agents during their early meetings.  In fact, some real estate agents won’t even show a home to a buyer that doesn’t have at least a loan pre-approval.  So, should you talk to a lender before you talk to a real estate agent?

Which comes first, the lender or the real estate agent?

When you’ve decided to buy a home, one of your first calls should be to a lender.  Your lender will be able to give you information on the loan process, including any unique underwriting requirements that they may have.  This will be invaluable as you progress down the home buying path and are prepared for, and understand, the massive amount of documentation and paperwork that will be required to close your loan.

Your lender will also be able to point out any potential issues relevant to your situation that may need to be addressed.  Even without a formal loan application, an early conversation with a lender can point out issues that you can start working on immediately to avoid issues down the road.

Lenders are experts in mortgages.  Are you worried that you don’t have enough of a down payment?  They can help you identify programs that require lower down payments. Are you worried that your credit isn’t perfect so you won’t be able to even get a mortgage?  Talk to some lenders – they’ll be able to talk you through that.

Of course, one of the biggest benefits of talking with a lender early is learning what mortgage amount you may qualify for.  This will save you, and your real estate agent, a lot of time and frustration by not visiting homes that are out of your price range.  You’ll find this amount out through either a mortgage prequalificaiotn or preapproval.

Prequalification or preapproval, which is better?

A loan prequalification is a written notice from a lender that, assuming your financial situation stays the same and can be verified, that you would qualify for a specified loan amount.  A loan preapproval takes things a little further.  For a preapproval, your lender will actually do a credit check, verify income, etc., which is more work and commitment from both you and your lender.

This additional verification by a lender makes the preapproval the stronger of the two choices.  With all other things being equal, a preapproved buyer’s offer would likely be more attractive to a seller than an offer from someone else who was simply prequalified.  In times when multiple offers are the norm, a preapproval is almost required for an offer to be competitive.

So, which is it?  Lender or agent first?

I’ll give the nod to your lender.  The loan process can be complex and time consuming, so the earlier you understand the process and cab begin getting your finances in order, the better.  And, having early conversations with lenders will help you determine your price range, down payment and financing options, which help you narrow your choices to find the home you’ll love for years to come.

That isn’t to say that you don’t want to call an agent soon after!  Many of us love developing long-term relationships and are happy to discuss your home buying needs early in the process.  That give us time to learn more about you and what you are looking for before we start actively looking for homes.


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, feel free to sign up here for my monthly “Neighborhood News” newsletter for real estate information on your local area.

Just a quick post showing some real estate statistics from last month in the Denver south metro area.  This info comes to us from the South Metro Denver Realtor’s Association.

As you can see, our market is not as active as it was a year ago.  Listings and sales are both down about 25% from May of 2022, and the median sales price has dropped by almost 4% to $590,000.  At the same time, both days on the MLS and weeks of inventory have both increased.

One interesting takeaway I see in this data is that while the median sales price has dropped from a year ago, it is up by about 10% since January.  To me, that means that buyers may not want to wait on the sidelines hoping for a large price correction.  The limited inventory seems to be holding prices relatively steady.   Of course, I don’t know what the future holds in terms of inflation, the economy, etc., so things may change next month.

Drop me a line if you want to talk about these numbers.  Have a great week!

 


Thanks for reading.  Remember, I don’t know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, feel free to sign up here for my monthly “Neighborhood News” newsletter for real estate information on your local area.

If you are looking for a home on a large lot in Littleton, you may have some fun options!  At any time, you may find an elegant 8,000 square foot home surrounded by pine trees on your own small estate, a contemporary ranch home on 2.4 acres or a 10 acre horse property.  Littleton always seems to have a range of home styles and property types in the 1+ acre category.  Click here or the "See More Listings..." button below for the most current listings.

 


Thanks for reading.  Remember, I don't know you or your specific situation.  Nothing in this article should be taken as advice specific to your situation.  If you have any questions, though, please get in touch - you can find my contact form here.  Also, feel free to sign up here for my monthly "Neighborhood News" newsletter for real estate information on your local area.

There’s nothing that I can say to commemorate Memorial Day any better than the thousands of writers more eloquent than me have done in the past.  Suffice to say, thank you to the soldiers, sailors, airmen and marines that gave their life for our country.

Here’s a link to the United States National Archives page on Memorial Day – its origins, some videos and articles.


Thanks for reading.  If you have any questions, though, please get in touch – you can find my contact form here.  Also, feel free to sign up here for my monthly “Neighborhood News” newsletter for real estate information on your local area.