Andrew's Blog

Here is a quick snapshot of the single family housing market (Residential and Condo) in the Denver metro area from February 2011*:

 

Number of Homes Sold = 2,229

Average Home Price = $242,704

Average % Loan to List Price = 95%

Average Days of Market (DOM) = 124

Total Price of Sold Real Estate = $540,985,845

 

From January 2011

The number of Sold homes rose by 3.39%, yet the Sold Price dropped by 3.81%. The number of Days of Market increased by 3.35% or 3 days.  Though the number of homes sold jumped up slightly, home values dropped and they are taking a little bit longer to sell.

From February 2010

The number of Sold homes dropped by 8.50%, and the Sold Price decreased by 1.93%. The number of Days of Market increased by a whopping 30.18% - meaning homes are on the market an average of 24 more days than 1 year ago. 

 

For more information on the value of your home or neighborhood, or to find the best deal on a new home, contact Andrew Cepeda today!

 

*Data taken from Market Activity Report in Metrolist.

It's finally March 2011 - which means home selling season 2011 has started!  Here in Colorado the best time for you to sell your home is from March to June.  Why?  Because after the cold winter months, buyers are starving for deals and are coming out of their hibernation caves to forage for their next home, or investment property!

If you are looking to sell, you should list your home or property on the market in March or April to take advantage of renewed buyer energy caused by warming temperatures and fairer weather conditions.  If you wait until June or July many buyers have already found their home, or you may have to sell for a lower asking price in order to compete with the stagnant and less attractive houses that went on the market when they should have yet didn't sell and are dropping the price to attract a buyer.  Also, July and August are super hot months - the "dog daze" of summer - and people are either bogged down by the heat or are on vacation. 

So if you are considering selling your home, please click here to get a FREE custom home valuation!

Especially because interest rates and home prices are so low NOW is the time to sell!  Contact Andrew today for more information.

 

Stay true to yourself, and your planet!

 

Keller Williams has just announced its release of the much anticipated eEdge lead-to-close transaction management resource! This new web technology is taking the real estate transaction to paperless, creating an uberefficient tool for Keller Williams real estate agents to help everyone when they buy, sell, or invest in real estate.

Although I was unable to make Family Reunion in Aneheim, I did sign up for eEdge about 4 hours before I received an email announcing it was live.  I am in the process of uploading my database into the software, which is so amazingly built into the KW Intranet system, and am working on developing killer marketing systems to spread the word to everyone I know about energy efficiency and sustainability in real estate!  Now all of my real estate tools are in one place so I can guide you through to achieving your real estate goals.

For more information on eEdge, please visit kw.com/kw/eEdge.

Below is the offical press release from Keller Williams. 

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Keller Williams Realty Announces Numbers for 2010, Continued Growth During Real Estate Downturn

Company Launches eEdge Industry’s First Lead-To-Close Business Solution Today

AUSTIN, TEXAS (February 21, 2011)–Keller Williams Realty reported today at its national convention that it ended 2010 with 79,315 associates, 701 market centers (offices), and associate profit share up 7.2 percent, with its agents receiving $34.6 million dollars back. Since the inception of the profit sharing program, the company has given back over $304 million in earnings to its agents. Additionally, CEO Mark Willis shared in his annual State of the Company address to more than 8,000 convention attendees that, since the real estate market’s sharp downturn in 2005, the company has grown 30 percent in agents, 40 percent in market centers, 21 percent in closed units and 11 percent in closed GCI.

“Keller Williams agents have outpaced the market in every way, through productivity and profit share. As a company, we are better off now than we were before the shift–and we have our associates to thank for that," said Willis.

The growth of the company can be attributed to the growth of its agents. Agent productivity continued to rise with units closed up 6 percent from December 2009 to 2010, while comparably, the NAR membership as a whole went down in closed units 4.8 percent. Overall the company’s associates saw productivity year on year percentage increases across the board in listings taken (up 13 percent), contracts closed volume (up 9 percent) and contracts closed units (6 percent).

“These numbers are the most important to us because they are proof that our agents are succeeding, making more money and growing their businesses. They are truly breaking through," Willis added.

Willis also did the honors of “turning on" the industry’s firstcomplete lead-to-close business solution, eEdge, during his address. This unique tool is now available to every Keller Williams associate at a fraction of the cost they would normally pay with functionality to build their leads, database and sales. Additionally, with the company-wide paperless transaction system, consumers can expect a faster, more seamless closing process.

“We want to thank our associates and their unwavering commitment to the growth of their businesses and leading the way in the industry in technology," said Mary Tennant, president and COO of Keller Williams Realty. “Keller Williams Realty wouldn’t be forging ahead with such an important product like eEdge without the support of our agents and their vote!"

In addition to reporting positive growth and technological advancement, the company received many accolades in 2010 including:

· Entrepreneur magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list

· J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row

· Inman News, Co-Founder and Chairman of the Board Gary Keller named one of the 100 Most Influential Leaders in Real Estate · Training Magazine, highest ranking real estate franchise on the annual Training Top 125, #47 Overall

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About Keller Williams Realty, Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 690 offices and almost 80,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com). Download printable version

For more information:

Amber Presley

512/327-3070

email

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http://www.kw.com/kw/pressrelease.html?pressReleaseId=183

 

 

“Renewable Energy Future” Contest Launched

University students and TV/Film professionals across the country compete to produce best Clean Energy TV commercial for national broadcast!

Denver, CO - Celebrating one of America’s fastest growing business sectors, the “Renewable Future” contest encourages production of clean energy TV commercials. The thirty second videos will highlight the benefits of renewable energy including economic growth, jobs and low energy costs. Consistently, ninety percent of Americans say they support increased solar and wind production.

With stunning visuals of wind turbines spinning in front of mountain sunrises, and solar panels adorning neighborhoods, the television commercials will present a bright future for American energy production. The contest is hosted by the Renewable Energy Initiative (TREI), a national educational organization. TREI’s mission is to create a strong economy and healthy environment through increased investment, production and use of clean energy. Prizes include tours of the National Renewable Energy Laboratory, in Golden, Colorado, and test rides in the Tesla Roadster- an all electric super car.

Entries are expected from the top film and environmental schools across the county including University of Southern California (USC) and University of Colorado, Boulder (CU).

“Renewable energy is big business,” explains Ken Beitel, TREI advisory board chair. “In 2010, solar and wind companies in America employed more than 178,000 people and global clean energy investment hit a record $243 billion. Employment in the US solar industry is forecast to grow by 26% in 2011 with the creation of 24,000 new jobs."

Electric cars, powered by renewable energy, operate at a cost of $1 per gallon equivalent. Increasingly popular all electric vehicles are expected to be a theme in many production entries. Faster than a Porsche, the Tesla Roadster can travel 250 miles on a charge and do 0 to 60 mph in 3.7 seconds. Electric cars such as the Nissan Leaf also allow commuters with solar carports or panels on their homes to commute for free.

In April, the “Renewable Future” competition will heat up when the public has the opportunity to view and vote on the best Clean Energy TV commercials via YouTube and Facebook. The “People’s Choice Award” will be presented at the Clean Energy Economy Gala being held in Denver, Colorado on Saturday evening, May 7, 2011. The winning commercials are expected to air on national news segments.

With a dramatic “open the envelope please” other prizes presented at the awards gala will include “Bests” in the following categories: Picture, Director, Cinematographer, Actor, Actress, Music Score, Funniest and Renewable Energy 401(k). The Renewable Energy 401(k) commercial prize will be won by an entry that forwards TREI’s goal of increasing renewable energy investment by tapping the $7 trillion in 401(k) and IRA plans. By having every 401(k) and IRA in the country offer a clean energy choice, TREI aims to generate $350 billion in new renewable energy production over four years.

The May 7 awards gala will be co-hosted by TREI’s partners, including the American Solar Energy Society (www.ases.org), the CleanTech Open (www.cleantechopen.com), and Lemnis Lighting (www.lemnislighting.com). Contest registration and tickets for the Clean Energy Economy Gala are available at www.TREI.us.

The Renewable Energy Initiative is an educational non-profit organization that works to strengthen the American economy, create jobs, and build a healthy environment by increasing renewable energy production, use, and investment. We empower organizations and individuals to create a Clean Energy Future through our education, public outreach and research activities.

 

Looking for a loan to help you live green? FHA offers a loan for owner occupied dwellings that allows borrower to qualify for extra capital to make improvements on the home. Its called the FHA 203(k) Rehabilitation loan. These loans make excellent ‘green’ loans, meaning a homebuyer may use the FHA 203(k) to fund energy efficiency improvements and to purchase sustainable and eco-friendly products for the home. Initially the borrower will carry a higher loan amount and have higher monthly payments, yet they save more money monthly on their utility bills. Buyers can also qualify for any available rebates and tax deductions and may even choose to achieve certification for compliance with either Energy Star or LEED. The loan allows for 1-4 unit buildings which makes it great for investors who are looking to purchase a duplex or 4 plex, live in one unit and rent the other three.

Borrowers who are interested in the FHA 203(k) must have an energy inspection done on the property they are looking to buy. The energy inspection, or audit, will determine the efficiencies and inefficiencies of the home and will influence the amount the borrower may qualify for. This can be done for about $450 in the Denver area. In most cases, the buyer will need to have two energy inspections on the home; one to determine the areas of improvement and two after the repairs to see how much the property has been improved.

The FHA 203(k) comes in a Streamline version, which allows up to $35,000 for rehabilitation of the home. The borrower is limited to 3 contractors, and must be doing at least $5,000 in repairs. This streamline version of the 203(k) allows for a possible single energy audit on the home; the borrower would receive half of the cost of repairs up front and half when the work is done.

Highlights of the 203(k) Streamline:
Finance up to additional $35,000 for energy improvements
Loan amount based on appraisal value after repairs resulting in extra capital for improvements
Requires 3% down
Interest rate .25-1% higher than normal loan
May be used for owner occupied 1-4 unit residences
Requires at least $5,000 in improvements
Allows up to 3 contractors

The focus of using these loans to make the home energy efficient and sustainable is that the new owner will benefit from lower monthly utility bills and live a more comfortable, healthy, and happy life. There is value in reducing your impact on the environment. Use this federally backed loan to improve your home and restore our neighborhoods and our planet.


Andrew Cepeda is an Ecobroker in the Littleton, Centennial, CO area.
If you would like to talk, please contact me at 720.216.7617 or email me at andrewcepeda@gmail.com

EcoBroker Certified® real estate agents are licensed real estate agents who receive additional training on energy and environmental issues and can give you a better understanding of energy opportunities and environmental concern as they relate to your real estate decisions and transactions. EcoBrokers help clients market properties with green features, save money, and live comfortably through energy efficiency and environmentally-sensitive choices.

When working with an EcoBroker®, you get a triple advantage:

Energy: reducing the amount of energy used and taking advantage of renewable and alternative energy sources when available.

Environment: understanding how the products and services you use impact local and global environments positively or negatively and encourage more sustainable choices

Green Marketing: effectively marketing your property to appeal to those interested in living green.

Joe and Suzy Homemaker decided to get married and buy a new home. When they thought about using a real estate agent, they wanted someone who could help them find a home where they could live healthy and comfortably, to live modern yet not be too expensive. They wanted an agent who could help them live green. They decided to hire an EcoBroker® to help them buy a home and make it energy efficient. The Ecobroker immediately set them up with a green mortgage broker who pre-qualified them for a green loan to help finance the green improvements. After finding just the right home, with the help of their EcoBroker®, Joe and Suzy got an energy rating on the home to determine its efficiency. The EcoBroker® explained the results of the inspection and helped them choose the most cost effective areas to improve. When it came time for the appraiser to look at the house, that EcoBroker® was there, showing the appraiser the green improvements that would be made to the home and the appraiser worked a future cost value into the appraisal, which increased the appraisal value an extra $5,000! Joe and Suzy were so excited to close so they could begin working on their new green home. After the paperless closing, the EcoBroker® really started his work – coordinating the work to be done with contractors who used efficient and sustainable products like energy efficient windows, HVAC systems, appliances, low VOC (volatile organic compound) and chemically free paints, recycled glass countertops, bamboo flooring, low flow toilets, and plenty of insulation. Once all the work was done, the home was rated again, and the EcoBroker® used this rating to qualify the home as an Energy Star home and helped Joe and Suzy collect all the rebates and tax deductions they were entitled too. Today, Joe and Suzy are paying less than $1,000 a year on gas and electric, thanks to that EcoBroker®. They also enjoy improved health and are much happier knowing they reduced their impact on the planet.

EcoBroker® is the premiere green designation program for real estate professionals. In order to earn the EcoBroker® Designation, licensed real estate agents must complete an intensive online course. It is in your clients best interest to fully understand the green options they have to save money on utility bills, rebates and tax credits or deductions, and to promote a more eco-friendly lifestyle. Soon it will be required that all real estate agents learn about energy and environmental issues in order to receive a license.

Andrew Cepeda is an EcoBroker® in the Littleton, Centennial, CO area.

If you would like to talk, please contact me at 720.216.7617 or email me at andrewcepeda@gmail.com