Cory Merrill Real Estate Review

February 5th, 2016

Its the beginning of the year and an excellent time to look back at this year in Cory Merrill real estate. I broke down the home sales from last year in our neighborhood into the different market segments: new homes, resale of new homes, and the original homes.  See below how it broke down.

 

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This is the breakdown of the data, there were 127 homes that sold last year.  85 homes were the old original homes, 22 were new build resales and 20 were new builds.

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The data is not complete extensive for new builds and new build resales, but you can see the general trend was up last year.

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This graph is showing that many homes originally start out over priced and had to do multiple price reductions before selling.

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This graph shows the average price per square foot for the total square footage.  There were a few outliers, but the general trend is about $250 per square foot.

Things to do in Denver this fall

October 7th, 2015

Here are some things to do in Denver this fall:

PUMPKIN HARVEST FESTIVAL

WHEN: Oct. 3-4
WHERE: Four Mile Historic Park, 715 S. Forest St. 

At Four Mile Historic Park’s Pumpkin Harvest Festival, find the perfect pumpkin in the patch, create your very own scarecrow, listen and dance to old time music, play historic games or make a historic craft!

FESTIVAL OF SCARECROWS

WHEN: Oct. 10
WHERE: Historic Olde Town Arvada, Main St. 

Head to Historic Olde Town Arvada for the Festival of Scarecrows, with scarecrow contests, a pumpkin patch, kids costume parade, community booths, hay wagon rides, giant pumpkin contest.

WHAT’S OUT THERE WEEKEND DENVER

WHEN: Oct. 10 & 11
WHERE: Multiple venues throughout Denver

Parks and open spaces have been invaluable components of the city’s design and development since Denver’s earliest days and What’s Out There Weekend is your chance to tour Denver’s unique scenery. Join The Cultural Landscape Foundation and explore The Mile High City’s diverse range of landscapes through FREE, expert-led tours of more than two dozen sites, ranging from mountain parks to downtown pedestrian malls.

DENVER ZOMBIE CRAWL

WHEN: Oct. 17 
WHERE: Downtown Denver
The Denver Zombie Crawl has already been documented as the largest zombie event in the nation, and for this – the ninth annual crawl – the organizers are again shooting for a new Guinness World Record. Whether you come dead – or alive – you’ll laugh, you’ll be grossed out, you’ll be horrified and quite frequently scared, sometimes all within one minute, but you’ll come to appreciate the creativity that exists in Denver, at least in the underground world of the undead.

DENVER ARTS WEEK: NIGHT AT THE MUSEUMS

WHEN: Nov. 7
WHERE: Various museums in the Denver Metro area 

Based on the popular event from Paris, Denver Arts Week’s Night at the Museums explores the city’s top museums that open their doors for free from 5 p.m. to 10 p.m. Free shuttle buses are available, which also includes free parking, making it possible to hop from museum to museum. In addition to being free, many of the museums offer music, dance and special performances.

DENVER ZOO FREE DAYS (COLORADO RESIDENTS ONLY)

WHEN: Nov. 2, Nov. 13, Nov. 19 
WHERE: Denver Zoo, 2300 Steele St. 
Go say hello to the animals for free four times this fall. The Denver Zoo, located in City Park, spans over 75 acres and is home to over 4,000 animals including rare amur leopards, okapi, black rhinoceros, elephants, vampire bats, orangutan, Komodo dragons and more!

DENVER MUSEUM OF NATURE & SCIENCE FREE DAYS (COLORADO RESIDENTS ONLY)

WHEN: Sept. 27, Oct. 19, Nov 9
WHERE: 2001 Colorado Blvd.
Explore the Denver Museum of Nature & Science, a maze filled with treasures of the earth – dinosaurs, dioramas, space exhibits, science experiments, a digital planetarium, IMAX theatre and touring shows.

DENVER BOTANIC GARDENS FREE DAYS: YORK STREET LOCATION (COLORADO RESIDENTS ONLY)

WHEN: Nov. 13-14
WHERE: Denver Botanic Gardens, 1007 York St.
The Denver Botanic Gardens is a 23-acre oasis in the middle of the city, with 45 different gardens (some 33,000 plants), as well as one of the nation’s top 10 conservatories. Relax in the Japanese Garden, climb through the Rock Alpine Garden and explore the new Mordecai Children’s Garden.

DENVER BOTANIC GARDENS FREE DAY: CHATFIELD LOCATION (COLORADO RESIDENTS ONLY)

WHEN: Nov. 3
WHERE: Denver Botanic Gardens at Chatfield, 8500 W. Deer Creek Canyon Rd., Littleton
Denver Botanic Gardens at Chatfield
 is a picturesque nature preserve among the grasslands, ponds and cottonwood banks of Deer Creek. Facilities include nature trails, a wildlife observation area, display gardens, educational exhibits, a historical farm, a 19th century one-room schoolhouse, working beehives and picnic areas.

DENVER ART MUSEUM FREE DAYS

WHEN: Oct. 3 & Nov. 7
WHERE: Denver Art Museum, 100 W. 14th Ave. Pkwy.
The Denver Art Museum‘s Hamilton Building is an architectural work of art. Designed by Daniel Libeskind, it will change the way you experience art and architecture. Explore the Museum’s galleries showcasing a world-famous American Indian art collection, as well as art from around the world.

FREE TARGET TUESDAY NIGHTS AT THE CHILDREN’S MUSEUM OF DENVER

WHEN: Oct. 6 & Nov. 3
WHERE: Children’s Museum of Denver, 2121 Children’s Museum Dr.
Families can play for FREE the first Tuesday of each month from 4 p.m. – 8 p.m. Discover theChildren’s Museum of Denver, where interactive Playscapes, programs, and special events all make learning fun by engaging children, infant through age 8, to play, learn and explore. It is a place that ignites and fosters a love of learning that children will carry with them throughout life.

MOLLY BROWN HOUSE FREE DAY

WHEN: Nov. 11
WHERE: Molly Brown House Museum, 1340 Pennsylvania St.
Learn all about the “Unsinkable” Molly Brown during this free day at the Molly Brown House Museum.

DENVER FIREFIGHTERS MUSEUM FREE DAY

WHEN: Oct. 10 
WHERE: Denver Firefighters Museum, 1326 Tremont Pl.
The Denver Firefighters Museum is one of Denver’s great hidden gems, located in the heart of downtown! Learn about some real American heroes, try on some firefighters gear, get behind the wheel of an antique fire engine and slide down the pole!

FOUR MILE HISTORIC PARK FREE DAYS

WHEN: Oct. 2 & Nov. 6
WHERE: Four Mile Historic Park, 715 S. Forest St.
At the Four Mile Historic Park, take a trip back in time to Denver’s pioneer past.

FREE DENVER PUBLIC ART TOURS

Dates TBA
Arts & Venues Denver invites art and architecture lovers to participate in FREE Public Art Tours – on foot, bike and scooter. These free guided tours focus on small segments of the City’s Public Art Collection and give citizens and visitors the opportunity to venture inside venues such as theEllie Caulkins Opera House and Colorado Convention Center to view works and hear the intimate details of their creation and installation.

U.S. MINT TOUR

320 W. Colfax Ave. 
Learn how to make money! The U.S. Mint produces 50 million coins a day, each one stamped with a little “D” for Denver. Free tours show every step in the process of turning a dull, blank, metal slug into shiny pocket change.

GARDEN OF THE GODS

1805 N. 30th St., Colorado Springs
Located 60 miles from Denver, the awe-inspiring Garden of the Gods features gigantic 500-foot high red sandstone rock monuments at the base of Pikes Peak.

NATIONAL CENTER FOR ATMOSPHERIC RESEARCH

1850 Table Mesa Dr., Boulder
Learn about global warming, the 21st century’s hottest topic, at the National Center for Atmospheric Research. See a hailstone the size of a softball, watch as a miniature tornado is whipped up in front of your eyes, and get an up close look at how lightning is created.

RED ROCKS AMPHITHEATRE & PARK

18300 W. Alameda Pkwy., Morrison
Carved from towering red rock monuments, Red Rocks Amphitheatre & Park is one of the world’s most renowned concert venues. When there’s no concert, the free Visitor Center has a museum Performers’ Hall of Fame, while the surrounding park has hiking trails that weave in, around and over the colorful red rocks.

COLORADO STATE CAPITOL TOUR

200 E. Colfax Ave. 
Tour magnificent, gold-domed Colorado Capitol Building. Stand at exactly a mile high on the steps, see Allen True’s beautiful murals, listen in on the Colorado General Assembly, and check out the gorgeous Rose Onyx wainscoting. Free tours are available 10 a.m.-3 p.m., Mondays through Fridays.

DENVER STORY TREK

Ever wonder about the stories of the places you pass? On Denver Story Trek you’ll explore the stories behind Denver’s historic landscapes and landmarks on an interactive, self-guided tour of the city. It’s simple to use and free!

LITTLETON MUSEUM

6028 S. Gallup St., Littleton 
Travel back in time at the Littleton Museum and get a glimpse into Colorado’s pioneer past. Located on 39 acres, the museum consists of two living history farms (one from the 1860s and one from the 1890s), with a working farm, a blacksmith shop and more than 40,000 historically Colorado artifacts.

COORS BREWERY TOUR

13th and Ford, Golden
“Taste the Rockies!” Coors Brewery, the world’s largest brewing site still uses the same Rocky Mountain spring water that Adolph Coors discovered in 1873. Free tours show every step in the brewing process, and end with free samples for those over 21.

CELESTIAL SEASONINGS TOUR

4600 Sleepytime Dr., Boulder
See how Celestial Seasonings, the largest specialty tea manufacturer in North America, blends, packages and ships its teas, then enjoy free samples of every variety they make, and discover a gallery of original artwork from their famous tea boxes.

GREAT DIVIDE BREWERY TOUR

2201 Arapahoe St. 
Get a behind-the-scenes look at Denver’s craft beer world on a free tour at the Great Divide Brewery in downtown Denver. Tours take place Monday thru Friday: 3pm, 4pm, 5pm & Saturday & Sunday: 2pm, 3pm, 4pm, 5pm, 6pm. Average tour time is 30 minutes.

DINOSAUR RIDGE

16831 W. Alameda Pkwy., Morrison
See some dinos – or what’s left of them anyway. Dinosaur Ridge features famous Jurassic dinosaur bones, such as Stegosaurus and Apatosaurus, discovered in 1877, and Cretaceous dinosaur footprints. A guidebook is available for use on self-guided tours.

COLORADO SPORTS HALL OF FAME MUSEUM

1701 Mile High Stadium Cir.
Housed in Sports Authority Field At Mile High Stadium (home of the Denver Broncos), theColorado Sports Hall of Fame Museum honors the legacies of The Mile High City’s greatest sports heroes, and features the Gallery of Legends, a “Great Moments in Colorado Sports” exhibit and a section celebrating the achievements of girls and women in Colorado Sports.

FREE DAYTRIPS

COLORADO’S FALL COLORS

Fall in Colorado isn’t complete without taking in the brilliant transformation of the state’s signature tree, the Aspen. The fall change from mellow green to stunning gold takes place during various weeks in September, depending on where you are – since the color only lasts a week, timing is everything! One of the best leaf-peeping routes on the Rocky Mountain Front Range is the Peak-to-Peak Scenic and Historic Byway that travels the high-altitude road between Black Hawk and Estes Park. Virtually every way you look, you’ll see majestic Aspen colors. Another great Front Range ride is along the Guanella Pass Scenic and Historic Byway, just south of the historic town of Georgetown. Bunches of blazing Aspen can be found all over this incredible drive. Learn more

LARIAT LOOP BYWAY

Retrace the motoring adventures of the early 1920s and experience the thrill of foothills exploration at the dawn of the Age of Motorcars on the Lariat Loop, a 40-mile scenic circle in the foothills west of Denver. The Lariat Loop takes motorists to several popular attractions, includingBuffalo Bill’s Grave & Museum, the Colorado Railroad Museum and the Mother Cabrini Shrine.

Courtesy of Denver.org

Median Sales Price Trends in Denver

October 6th, 2015

Median Sales Price Trends in Denver

Yikes is all I have to say.  There has been some startling developments in the recent median sales price trends in Denver.  In my zip code, 80210, the median sale price has decreased from a high in June this year of $570,000 to $455,000 in September.  Below is data on some zip codes I follow closely (note, these are only the larger zip codes, some zip codes don’t have enough data points to make them meaningful, if you want data for your home, please contact me directly):

80210 June 2015 $570,000 – September $455,000

80209  March 2015 $680,000 – September $560,000

80206 June 2015 $600,000 – September $440,000

80219 July 2015 $239,700 – September $230,000

80223 June 2015 $260,000 – September $251,000

80204 March 2010 $410,000 – September $371,500

There seems to be a general downward trend.  These numbers are historically volatile so it will take more time to see exactly what is going on, however I am seeing a general cooling of the real estate market in the Denver area.

 

Welcome Fall!

October 5th, 2015

Welcome fall!  Halloween is right around the corner and it is my favorite holiday, ok, just one of them.  I decorated my house in preparation for little kids with costumes trick or treating my house.  I can’t wait for Halloween night, the smell of burning pumpkins brings back memories of my childhood growing up in Greenwood Village.

What does fall mean to the real estate market?  Traditionally, it means a slowing down in home sales.  Fewer homes come on the market and fewer buyers are out looking.  This is great news for buyers and not as wonderful news for sellers.  It is great for buyers who have been beaten up in the super hot sellers market we saw this summer.  Buyers have a chance of buying a home without over paying for it and without being in a competitive offer situation if you are willing to look at the overlooked houses.  We are starting to see a few good deals out there again too.  Homes that don’t sell in the first week are still being overlooked as many agents and buyers have a preconceived notion that there must be something wrong with the home if it hasn’t sold in a weekend.  While this occasionally may be true, more often than not it is an opportunity for the savvy buyer.

For sellers it means less competition against other sellers.  Nice homes that are well priced are still seeing multiple offers and selling fast.  It does mean that the first weekend is even more important though, if the home hasn’t sold by then, some quick action must be taken to ensure it sells fast while it is still a new listing.  Remember, the National Association of Realtors tells us that 2 weeks no showings or 10 showings no offer means that the home is over priced and quick action must be taken!

On a similar note, I was at a real estate convention in August and a recurring theme there was that the end of the sellers market is neigh, if you want to sell, now is the time – we could be heading towards a real estate slump, or at least a cooling in the market and a flattening in home price increases.