RE/MAX Ranked as leading real estate franchise of 2018

We don’t often blow our own horn here, but some things are worth celebrating— and that includes our recent designation as the leading real estate franchise of 2018, by Entrepreneur magazine.

More than 1,000 franchisors applied to be included in Entrepreneur’s annual Franchise 500 survey. Franchisees were evaluated on unit growth, financial strength, stability and brand power during 2018. This marks the seventh consecutive year—and the 16th time in 20 years—that we’ve ranked No. 1in the real estate category.

“RE/MAX leads its competitors year after year in the Franchise 500,” said RE/MAX CEO Adam Contos. “We truly are the No. 1 name in real estate, and industry professionals want to experience the competitive advantages of our brand power, progressive on-demand training, technology and unmatched global footprint.”

REMAX now includes 120,000 sales associates in more than 100 countries and territories—not bad for a company that began with a single office in Denver in 1973!

Just another reason why I, Joseph Newman – The Colorado Broker, am proud to hang my license with RE/MAX

RE/MAX of Cherry Creek

 

Goodbye Elitch Gardens, we will miss you

New River Mile development planned on Elitch Gardens site

So long, Ferris wheel. Hello River Mile.

With property values skyrocketing in central Denver, the owner of Elitch Gardens amusement park has announced that its thrill rides will eventually give way to high rises and associated amenities in a new neighborhood dubbed River Mile.

Denver-based Revesco Properties owns the 62-acre site where Elitch’s Ferris wheel has enhanced the Denver skyline for 24 years. Starting as soon as 2020, according to the Denver Business Journal, groundbreaking could occur for the new development.

The first phase of the project, notes the Journal, will be to transform a surface parking lot at the Pepsi Center into a centralized parking garage. Revesco aims to offer 8,000 residential units “and will feature some of the tallest buildings along the South Platte River,” reports the Denver Post. Of these units, 15% will be designated as affordable housing.

The area will also feature parks and open space, as well as office space and retail.

“[The plan] truly encapsulates all we’ve talked about with smart growth,” Revesco president and CEO Rhys Duggan told the Journal, noting that there will be maximum limits on automobile parking to discourage traffic.

The construction of River Mile will occur in phases and may take between 20 and 25 years to complete.

Meanwhile, Ferris wheel fans can rest easy. Duggan told Denver City Council members that the park’s removal is “many years” away.

 

REMAX of Cherry Creek

Photo Copyright: arinahabich / 123rf.com

Study shows use of real estate agents highest in 18 years

Study shows the use of real estate agents highest in 18 years

Despite the proliferation of apps and websites designed to help people buy and homes on their own, most people continue to choose traditional, in-person brokers. In fact, a new study shows that use of real estate agents is at its highest level since the study began in 2001.

A recent Harris Insights & Analytics’ housing consumer study polled 1,000 people who had either bought or sold a home in the last six months of 2018, according to Housingwire.com.  Of those, 90% said that they used a real estate agent to buy or sell their homes. The figure represents a 5% increase from the last study, which was conducted in 2014 and a 9% increase from the first study in 2001.

“And despite the fears that Millennials are replacing real estate agents with technology, the study found that this was not the case…” notes Housingwire. Among those ages 18 to 24, 91% reported using a real estate agent.

Gen Xers—those between 35 and 44 years old—were found to use brokers at an even higher rate of 94%

Interestingly, the study reports that more education corresponds to greater usage of agents. Of those with a college education, 94% used a broker to buy or sell their homes, vs. 83% of those with only a high school diploma. Meanwhile, income was also a predictor; 98% of survey participants earning between $75,000 and $100,000 used a broker, vs. 79% of those who made $50,000 or less a year.

If you are in the market for a home and are interested in learning more about my process please feel free to visit TheColoradoBroker.com. I would love to meet you over coffee to discuss your wants and needs!

-Joseph Newman, The Colorado Broker

Photo by José Alejandro Cuffia on Unsplash

Denver International Airport earns accolades

Denver International Airport earns accolades

When it was first built, Denver International Airport (DIA) suffered so many operating glitches that it became the favorite go-to joke for late-night TV hosts.

DIA
DIA

Now the joke is on them: The Wall Street Journal recently named DIA the best “big airport” in the country. 

“Drawing from a survey of 4,800 readers and weighing 15 airport measures, including security wait times, average fares and arrival and departure time reliability, the paper crowned the ‘Mile-High Miracle’ best in its class for air travel,” notes the Denver Post.

To determine an airport’s convenience factor, the Journal studied Wi-Fi speeds, Yelp ratings for airport restaurants, walking distances and the number of destinations patrons can reach on a direct flight. Denver ranked high in these measures, as well as in the price of its airfares. The study found that due to more competition among airlines at DIA, flights are cheaper, with an average fare of $299.

Orlando International Airport finished second in the study, while Phoenix’s Sky Harbor International Airport came in third.

DIA also recently earned the distinction of being the fastest-growing major airport in the country, according to the Denver Business Journal.

In 2018, the airport added “more flights and more seats taking off than any top-ten U.S. airport,” notes the newspaper.

REMAX of Cherry Creek

Photo Copyright: arinahabich / 123rf.com

The Newest Trend in Home Decor is a Secret

Shhhh. The newest trend in home decor is a secret!

Can you keep a secret? Then you might be a candidate for the newest trend in home décor: secret doors.

That’s right – those hidden passages once confined to mystery movies and novels have now made their way to the average home.

According to the Washington Post, it’s all due to manufacturers offering ready-made doors disguised as bookshelves, mirrors and other options. “[A]s pre-built, ready-to-install doors become more widely available,” notes the Post, “people are adding them for aesthetics, for fun or maybe because they watched too much Scooby Doo.”

The Post reports that three years ago Home Depot began offering online pre-hung bookcase-doors from Murphy Door in Utah. “It has become more of a trend than we expected,” Jeff Watchko, interior door buyer for the store told the Post.

The development can be attributed in part to homeowners hoping to hide valuables in secret rooms. But concealed doors can also solve design issues.

For example, in Nicole Buell’s small condo, the doors to her only bathroom were in her bedroom and living area. The door in the living area was taking up space she would have liked for pictures or bookcases. But removing the door and replacing it with a wall would have left the only entrance to the bathroom in her bedroom, making it awkward for guests. A bookcase that doubles as a door was the perfect fix.

“With the help of her father,” notes the Post, “she constructed shelves and mounted them on the ball bearing hinges to create a bookcase that swings open to reveal the loo.”

Some, however, admit they don’t care about practicalities. Sometimes, the $850 to $1,750 price tag just pays for fun.

“We were redoing our master bathroom and closet, and I don’t know where I saw hidden doors,” Leigha Basini told the Post, but I was a big mystery reader as a child, and when I saw we could have a hidden door, I wanted one. It was probably three-quarters fun and one-quarter storage.”

In all, it’s an exciting trend hiding in plain sight. But, remember: you didn’t hear it from us.

If you need help finding any properties feel free to reach out to me directly!

The  Colorado Broker, Joseph Newman

REMAX of Cherry Creek

Photo Copyright: Katy Belcher/Unsplash 

Movember Foundation!

This November, I have joined the movement to help raise money and awareness for men’s health. Together we can make a difference for men’s health – in prostate cancer, testicular cancer, mental health, and suicide prevention. HELP ME STOP MEN DYING TOO YOUNG.

I have joined up with my buddy Eric Elkins and we put on a MOVEMBER Happy Hour at Interstate! $1 from each Horse’s Neck cocktail purchased was donated to the Movember Foundation, $40 in total.

Put your money where you Mo is! Visit my page to donate. We still have more days to donate to reach our goal!
https://mobro.co/13852872?mc=1

In the United State, 1 in 9 men will be diagnosed with prostate cancer in their lifetime.

More from the MOVEMBER FOUNDATION

THE MOVEMBER FOUNDATION
Stopping men dying too young

Our fathers, partners, brothers and friends face a health crisis that isn’t being talked about. Men are dying too young. We can’t afford to stay silent.

THAT’S WHY WE’RE TAKING ACTION.

We’re the leading charity changing the face of men’s health. We’re addressing some of the biggest health issues faced by men: prostate cancer, testicular cancer, and mental health and suicide prevention.

We know what works for men, and how to find and fund the most innovative research to have both a global and local impact. We’re independent of government funding, so we can challenge the status quo and invest quicker in what works. In 15 years we’ve funded more than 1,200 men’s health projects around the world.

By 2030 we’ll reduce the number of men dying prematurely by 25%.

Again, I really appreciate your support. Visit my page with the MOVEMBER Foundation.

THANK YOU FOR YOUR SUPPORT!

Joseph Newman, The Colorado Broker.

6 Near- Genius Ways to Fool Burglars Into Thinking You’re Home

Design Tricks to Make Tiny Bathrooms Look Bigger

Design tricks to make tiny bathrooms look bigger

It’s fun to look at magazine pictures of gleaming bathrooms the size of airplane hangars. But if you’re like most homeowners, your washroom can barely fit a sink and toilet, let alone a Learjet.

How can you make the most of those rooms?

There’s plenty you can do—from choosing the right color palette to employing visual tricks—to make even the smallest space look magazine-worthy. Here are some suggestions from Houzz:

Choose white on white: White tile, white paint, and a white vanity can do wonders for visually enlarging a space. “This noncolor-color naturally recedes, making the space look bigger,” notes Houzz. Use varying textures to keep the design from appearing monotonous.

Install a floating vanity: This choice allows for storage beneath the sink, while also giving the bathroom an airy look. Additionally, “in a very small space, having more room to plant your feet can make a big difference,” notes Houzz.

Go minimal: Don’t choose the largest vanity possible. A smaller vanity will “make the area feel less stuffed and thus roomier.”

Replace a shower curtain with glass: This makes the entire square footage of the room visible, opening things up considerably. Houzz also suggests homeowners consider replacing the bathtub with a shower stall. “They are easier to get in and out of, and removing the tub eliminates a lot of bulk that eats up precious room.”

Use bright lighting: Consider multiple light sources in different locations. This will brighten the room and eliminate shadows that close in the space.

If you need any contacts for contractors to aide you in your home renovations please feel free to reach out to me directly. I am always available to you as a resource.

The Colorado Broker

ReMax of Cherry Creek

Photo Copyright: Chastity Cortijo on Unsplash

School Districts are More Important to Denver Home Buyers than other Amenities

School Districts are More Important to Denver Home Buyers than other Amenities

We all know home buyers desire high-performing school districts. But what are they willing to sacrifice for this priority? Plenty, according to a recent survey by Realtor.com.

The survey found that 78% of home buyers place a good school district above other amenities. “School districts are an area where many buyers aren’t willing to compromise,” Realtor.com Chief Economist Danielle Hale noted of the survey’s findings, as reported by CBS MarketWatch. “For many buyers, ‘location, location, location’ means ‘schools, schools, schools’.”

According to MarketWatch, more than half of home buyers (59%) studied test scores to determine a school district’s quality. Others considered whether the school had a gifted and talented program (53%) and art and music education (49%).

Among the amenities they were willing to sacrifice for great schools: a garage (19% were willing to let this go); updated kitchen (17%); number of hoped-for bedrooms (17%) and outdoor living space (16%).

“Of course, buying in a good school district comes with a significant premium as well,” adds MarketWatch, which cites a 2016 Realtor.com study noting that homes in higher-rated school districts were 49% more expensive on average than the median-priced home nationwide.

Reach out to me at The Colorado Broker and I would be happy to provide you with a school district map so you can see what district is right for your family.

 

ReMax of Cherry Creek

Photo Copyright: Pan Xiaozhen / Unsplash.com

The Colorado Broker – Computers vs Humans Home Appraisals

Computers can do home appraisals. But humans are better

In our computer-oriented world, decisions driven by data and algorithms have become commonplace. This raises the question: Is there still a need for human input to get the right outcome?

It’s a question many are asking regarding home appraisals.

“With these [technological] advances, will computers inevitably replace appraisers when it comes to valuing homes?” asks John S. Brenan, director of appraisal issues for the Appraisal Foundation. He explored the idea in a recent Realtor Magazine article.

Computer models, called automated valuation models (AVMs), are used by websites like Zillow, tax assessors, lenders and others. Most experts agree that AVMs have their place in today’s world. For example, they are useful in situations where the appraisal isn’t critical.

Brenan offers the situation where a person owns a $2 million home free and clear and wants to take out a $50,000 line of credit. “I’d be irate” he notes, “…if I had to pay a large fee” for an appraisal. In this case, an AVM would work nicely and save the homeowner as much as $700 in appraisal fees.

Computer algorithms also work well when evaluating average homes with no special variations. But few homes are “cookie cutter.”  AVM’s don’t consider whether the home is located on a busy street corner, if it has been updated or is in major disrepair, and so on.

As Brenan writes: “[C]omputers don’t buy houses; people do. An AVM does a great job of analyzing tangible features, such as a property’s age, number of bedrooms and baths, square footage and lot size. However, a property’s overall appeal is something that has been, at least to date, extremely difficult to quantify.”

Brenan notes that while AVMs can help appraisers in their valuations, the human element is still critical in most situations. “[U]nless and until AVMs can better emulate the human factor, an ethical and competent appraiser remains indispensable.”

I have been in the industry for a long time and have established relationships with reputable appraisers in Denver throughout the years. Contact The Colorado Broker, Joseph Newman,  if you would like contact information for our trusted appraisers in the area.

ReMax of Cherry Creek