Monday, December 28, 2009
Sunday, December 27, 2009
The Highs and Lows of Real Estate in 2009. By Dan Polimino.
"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief, it was the epoch of incredulity; it was the season of light, it was the season of darkness; it was the spring of hope, it was the winter of despair; we had everything before us, we had nothing before us; we were all going directly to Heaven, we were all going the other way.”
Charles Dickens.
This is easily my favorite quote of all time and it accurately describes how many of us felt during the course of 2009. Some of you may even be thinking, “were there any high points in real estate this year?”
Yes there were, and while I only have limited space I’ll try to recap the top five in each category.
The Lowlights:
• Clearly, we started the year worse off than anyone imagined. People not only contracted their buying, but they also went into hibernation mode and some agents wondered if they would ever sell a home again.
• Some price points like the Luxury market saw drops in value in excess of 30 percent in less than a year.
• Lending has hit a new low. Never has it been so hard to borrow money for the average person. The regulations, guidelines, and qualifications are getting harder every day. At this juncture, I am not convinced that banks are remotely interested in helping Americans get back on their feet.
• The mortgage industry is now being controlled by a few large banking institutions that have too much power and too much control. This is bad for consumers, bad for competition, and bad for capitalism.
• The appraisal system has run amuck. It’s in complete disarray and if you wait a week, it will change again. We need stability here soon.
The Highlights:
• More people were able to buy their first home. The first-time home buyer tax credit worked and stimulated the industry.
• The fourth quarter looks to have a much stronger close in real estate sales than originally predicted. Improvements in the economy, buyer confidence, low home prices, low interest rates and incentives have brought buyers off the sideline.
• Today we have a much more qualified buyer than in many years past. People who own homes now or recently bought homes are the ones that can truly afford them.
• We made great headway in beginning to weed out fraud, deception, cheating, and people looking to take advantage of others.
• We came out of an election year, banks failing, and unprecedented amount of foreclosures and still the real estate market continued to operate. We got deals done and actually improved the forecast for everyone.
Later this week is the start of 2010. Happy New Year Everyone and let’s pray that we have more to write about in the highlights column.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Charles Dickens.
This is easily my favorite quote of all time and it accurately describes how many of us felt during the course of 2009. Some of you may even be thinking, “were there any high points in real estate this year?”
Yes there were, and while I only have limited space I’ll try to recap the top five in each category.
The Lowlights:
• Clearly, we started the year worse off than anyone imagined. People not only contracted their buying, but they also went into hibernation mode and some agents wondered if they would ever sell a home again.
• Some price points like the Luxury market saw drops in value in excess of 30 percent in less than a year.
• Lending has hit a new low. Never has it been so hard to borrow money for the average person. The regulations, guidelines, and qualifications are getting harder every day. At this juncture, I am not convinced that banks are remotely interested in helping Americans get back on their feet.
• The mortgage industry is now being controlled by a few large banking institutions that have too much power and too much control. This is bad for consumers, bad for competition, and bad for capitalism.
• The appraisal system has run amuck. It’s in complete disarray and if you wait a week, it will change again. We need stability here soon.
The Highlights:
• More people were able to buy their first home. The first-time home buyer tax credit worked and stimulated the industry.
• The fourth quarter looks to have a much stronger close in real estate sales than originally predicted. Improvements in the economy, buyer confidence, low home prices, low interest rates and incentives have brought buyers off the sideline.
• Today we have a much more qualified buyer than in many years past. People who own homes now or recently bought homes are the ones that can truly afford them.
• We made great headway in beginning to weed out fraud, deception, cheating, and people looking to take advantage of others.
• We came out of an election year, banks failing, and unprecedented amount of foreclosures and still the real estate market continued to operate. We got deals done and actually improved the forecast for everyone.
Later this week is the start of 2010. Happy New Year Everyone and let’s pray that we have more to write about in the highlights column.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, December 23, 2009
Monday, December 21, 2009
Sunday, December 20, 2009
Christmas Week, By Dan Polimino.
As many of you know from following my columns here in the Denver Post over the last six plus years, I don’t like to talk about business on the week of Christmas. After all, we’ve got 51 weeks in the year to do that. I think that this one week, we can take a break and tackle something more meaningful.
No doubt that this has been one of the hardest years in recent memory for many people including those in the real estate industry. All of us are trying to find our way around a new world of rapidly changing economics. I am reminded of the people who’ve lost their jobs this year, lost their homes, and now maybe spending their first Christmas without a place to call their own. It is my sincere hope and prayer that you’ll find some peace and encouragement this week and in the weeks to come. I am a big believer in positive thinking, finding joy in the little things in life, remembering what matters most, and being thankful for what I have instead of what I don’t have. I think that we need to wake up in 2010, put a smile on our face, declare it’s going to be a great day, week, or year and go get the heavy lifting done. We all know what the problems are so we need to focus hard on the solutions if we are going to turn things around.
Christmas week would not be complete without thanking a few people like the readers of this column. Thank you for your notes, comments, well wishes and shared stories. You inspire me to keep writing and you contribute greatly to the ongoing education process that is real estate. Thank you to the Denver Post for giving me a forum to share opinions, information and knowledge. I appreciate it more than you know. To my fellow colleagues in the business, I always enjoy meeting you, working with you on transactions, and I wish you the very best. When you succeed, we all prosper. To my clients that trust me to sell their homes and purchasing new ones, I am truly grateful that you chose and trusted me in such an important transaction.
Finally, on behalf of my family, it’s with heartfelt sincerity that I wish you a Merry Christmas, Happy Holidays, and a Happy New Year. God bless you in the coming year and take pleasure in this special Holiday week.
Sincerely,
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
No doubt that this has been one of the hardest years in recent memory for many people including those in the real estate industry. All of us are trying to find our way around a new world of rapidly changing economics. I am reminded of the people who’ve lost their jobs this year, lost their homes, and now maybe spending their first Christmas without a place to call their own. It is my sincere hope and prayer that you’ll find some peace and encouragement this week and in the weeks to come. I am a big believer in positive thinking, finding joy in the little things in life, remembering what matters most, and being thankful for what I have instead of what I don’t have. I think that we need to wake up in 2010, put a smile on our face, declare it’s going to be a great day, week, or year and go get the heavy lifting done. We all know what the problems are so we need to focus hard on the solutions if we are going to turn things around.
Christmas week would not be complete without thanking a few people like the readers of this column. Thank you for your notes, comments, well wishes and shared stories. You inspire me to keep writing and you contribute greatly to the ongoing education process that is real estate. Thank you to the Denver Post for giving me a forum to share opinions, information and knowledge. I appreciate it more than you know. To my fellow colleagues in the business, I always enjoy meeting you, working with you on transactions, and I wish you the very best. When you succeed, we all prosper. To my clients that trust me to sell their homes and purchasing new ones, I am truly grateful that you chose and trusted me in such an important transaction.
Finally, on behalf of my family, it’s with heartfelt sincerity that I wish you a Merry Christmas, Happy Holidays, and a Happy New Year. God bless you in the coming year and take pleasure in this special Holiday week.
Sincerely,
Dan Polimino
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, December 16, 2009
Thursday, December 10, 2009
Wednesday, December 9, 2009
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver, Colorado Your Voice Blogs Denver YourHub.com http://ping.fm/tFuDX
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver, Colorado
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver, Colorado. This week Dan talks about Real Estate and Christmas. What should buyers and sellers being doing over the next three weeks and until the Holidays are over.
Monday, December 7, 2009
Encouraging Signs. By Dan Polimino.
Everyone is always looking for encouraging signs when it comes to the economy. After all, the economy is the number one topic on everyone’s mind these days and with the Holiday season here, people are looking at retails’ numbers as one sign to gauge if the economy is getting better.
In real estate, there are a number of factors one could use to take the pulse of the market. Let’s take a look at few indicators that spell good news for the Denver Housing market.
1) At the beginning of October, Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index showed that the average home price in Denver rose for the fifth straight month ending July. Overall, Denver was creeping up to the prices of 2008.
2) According to the National Association of Realtors Chief Economist Lawrence Yun, at the end of October, pending home sales had increased for eight straight months. This is the longest series since the index began in 2001. Yun says that there is no doubt that the first-time home buyer tax credit helped fuel the streak.
3) According to real estate mogul Barbara Corcoran, homes nationwide are at least one third cheaper than they were three years ago, and as Barbara says, “anyway you want to slice that, it is a bargain for buyers.”
4) Rents are coming down. Why is that important? Remember, home sales and rents go in opposite directions. If rents are going up, people are not buying and vice versa.
So where does that leave us as we close out the year? If you are in the 300K and below market, it’s a much tighter, more competitive market. You may have to offer full asking price for a great home. In the luxury market, there are still deals to take advantage of because the inventory here is high. Will prices go down further? It’s hard to say because there are a lot of factors that indicate if prices will drop further like the job market in that area and inventory. One little test I like to do with clients is drive around a neighborhood that they are interested in living and count the ‘for sale’ signs. If there is more than one for sale sign per two blocks then chances are, prices are still moving down in that neighborhood.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
In real estate, there are a number of factors one could use to take the pulse of the market. Let’s take a look at few indicators that spell good news for the Denver Housing market.
1) At the beginning of October, Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index showed that the average home price in Denver rose for the fifth straight month ending July. Overall, Denver was creeping up to the prices of 2008.
2) According to the National Association of Realtors Chief Economist Lawrence Yun, at the end of October, pending home sales had increased for eight straight months. This is the longest series since the index began in 2001. Yun says that there is no doubt that the first-time home buyer tax credit helped fuel the streak.
3) According to real estate mogul Barbara Corcoran, homes nationwide are at least one third cheaper than they were three years ago, and as Barbara says, “anyway you want to slice that, it is a bargain for buyers.”
4) Rents are coming down. Why is that important? Remember, home sales and rents go in opposite directions. If rents are going up, people are not buying and vice versa.
So where does that leave us as we close out the year? If you are in the 300K and below market, it’s a much tighter, more competitive market. You may have to offer full asking price for a great home. In the luxury market, there are still deals to take advantage of because the inventory here is high. Will prices go down further? It’s hard to say because there are a lot of factors that indicate if prices will drop further like the job market in that area and inventory. One little test I like to do with clients is drive around a neighborhood that they are interested in living and count the ‘for sale’ signs. If there is more than one for sale sign per two blocks then chances are, prices are still moving down in that neighborhood.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, December 3, 2009
Real Estate Blog - Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver, Colorado http://ping.fm/kX6Ev
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver, Colorado http://ping.fm/aAEFG
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver, Colorado
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver, Colorado. Dan talks about the market slowing down for the Holidays and inventory levels. He also says the perfect buying storm is shaping up for the New Year.
Tuesday, December 1, 2009
I'll Wait To Sell. By Dan Polimino.
You don’t have to sell your home right now. You would like to, but you can wait until the market turns around and you have a better chance at getting a higher price for your home. I don’t blame you and if you don’t have to sell right now, then don’t.
In the meantime, are there some things that you can do to not only improve your home, but make it more attractive to buyers in the near future and increase the value? You bet, says Chuck St. John of CSJ Home Improvement, LLC.
Chuck says that this should be broken down to two categories: ‘normal upkeep’ and ‘improvement’. St. John says that unfortunately, many people who are getting ready to sell their homes start to neglect it. Instead of fixing things like they are going to be living in that home for another 10 to 20 years, they may let some things go because they know that they are going to sell it in the next year or two. This is a common mistake because home inspectors can see a house that has been neglected a mile away and that may be just enough to kill a deal. Besides, you want to make sure that your home shows better than the rest of your competition. Paying attention to details always pays off and helps a home show better than the rest. Chuck’s first tip is to have an inspection even though you are not selling the home. A good home inspector should be able to give you a solid list of items that need attention or maintenance. His second tip is to have someone with an unbiased opinion walk your home and list what needs to be replaced or repaired from a cosmetic standpoint.
Finally, St. John says that improving any of the following areas in a home will only add value and help get the house sold. Remodeling kitchens and bathrooms tops the list. Flooring and painting always get noticed. A new furnace and/or hot water heater are good attention getters. Outside new paint and a new roof tops the priorities list.
The takeaway message here is to use this time while you are waiting for the market to turn around to improve your own home. You’ll be glad you did.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
In the meantime, are there some things that you can do to not only improve your home, but make it more attractive to buyers in the near future and increase the value? You bet, says Chuck St. John of CSJ Home Improvement, LLC.
Chuck says that this should be broken down to two categories: ‘normal upkeep’ and ‘improvement’. St. John says that unfortunately, many people who are getting ready to sell their homes start to neglect it. Instead of fixing things like they are going to be living in that home for another 10 to 20 years, they may let some things go because they know that they are going to sell it in the next year or two. This is a common mistake because home inspectors can see a house that has been neglected a mile away and that may be just enough to kill a deal. Besides, you want to make sure that your home shows better than the rest of your competition. Paying attention to details always pays off and helps a home show better than the rest. Chuck’s first tip is to have an inspection even though you are not selling the home. A good home inspector should be able to give you a solid list of items that need attention or maintenance. His second tip is to have someone with an unbiased opinion walk your home and list what needs to be replaced or repaired from a cosmetic standpoint.
Finally, St. John says that improving any of the following areas in a home will only add value and help get the house sold. Remodeling kitchens and bathrooms tops the list. Flooring and painting always get noticed. A new furnace and/or hot water heater are good attention getters. Outside new paint and a new roof tops the priorities list.
The takeaway message here is to use this time while you are waiting for the market to turn around to improve your own home. You’ll be glad you did.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, November 25, 2009
Dan Polimino is giving away $250,000
Colorado Realtors Dan Polimino, Gary Lohrman and Mortgage Lender Andy Jorgensen are at it again.
This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.
Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.
Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream home.” It’s no gimmick and there are no tricks.
Dan, Gary and Andy have been so successful with their website helping people buy their first home and get an $8,000 dollar tax so they decided to celebrate. Why celebrate because the government extended the tax credit to April 30, 2010 and created a tax credit for non first time home buyers. Check out the information about the $6500 tax credit for everyone at www.firsttimehomebuyerdenverco.com and www.taxcreditforeveryone.com .
As always if there is anything Dan, Andy or Gary can do for you in the home buying or selling process don’t hesitate to contact them. Their contact information is on the site.
This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.
Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.
Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream home.” It’s no gimmick and there are no tricks.
Dan, Gary and Andy have been so successful with their website helping people buy their first home and get an $8,000 dollar tax so they decided to celebrate. Why celebrate because the government extended the tax credit to April 30, 2010 and created a tax credit for non first time home buyers. Check out the information about the $6500 tax credit for everyone at www.firsttimehomebuyerdenverco.com and www.taxcreditforeveryone.com .
As always if there is anything Dan, Andy or Gary can do for you in the home buying or selling process don’t hesitate to contact them. Their contact information is on the site.
Monday, November 23, 2009
Sunday, November 22, 2009
You're Over Analyzing It. By Dan Polimino.
A husband and wife were just about set to buy a home. They had narrowed it down to the final two choices and wanted me to go out with them one more time to help them decide. It was Tuesday night when they had contacted me and we were meeting on Thursday. By Wednesday morning, the two final homes had grown to six. They decided to look at four more including their final two choices. By Wednesday night, two of the six dropped off their list and they added four new ones. If you’re doing the math at home, that’s eight homes to look at on Thursday.
Thursday came along, we looked at all the eight homes, and the two finalists were still the two finalists. They said, “Dan, which one should we buy?” I said, “It’s a no brainer in real estate; the first golden rule is location, location, location. The second rule is to buy the most house that you can for the money. Based on those two rules, house “a” is the clear winner over house “b.” Both homes had all the same amenities and both were similar in price. With that said, I patted them on the back, sent them off feeling confident that they had found their home after seeing at least 75 homes to date.
Surprise, surprise! A few days passed and the buyers decided that they wanted to see a whole new slew of homes in a neighborhood that they never considered before. When asked what happened to their two finalists, they said that they were worried they hadn’t seen everything and that they might miss out on a better deal.
Ok, let’s nip this in the bud right now. When you are eclipsing 75 showings, its official…YOU HAVE SEEN EVERYTHING. The truth is, you could go on like this forever and feel like you haven’t seen everything. There will always be a story of someone that got a better deal. You can’t win that game, but you can ensure that you get a good deal for yourself, your price range, and your criteria. Stop chasing the deal of the century because you’ll end up frustrated, unfulfilled and without a home. Trust your gut instinct, stop over analyzing everything, make a decision, and get on with your life. Real Estate agents are the only ones that are supposed to look at homes for the rest of their lives.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday came along, we looked at all the eight homes, and the two finalists were still the two finalists. They said, “Dan, which one should we buy?” I said, “It’s a no brainer in real estate; the first golden rule is location, location, location. The second rule is to buy the most house that you can for the money. Based on those two rules, house “a” is the clear winner over house “b.” Both homes had all the same amenities and both were similar in price. With that said, I patted them on the back, sent them off feeling confident that they had found their home after seeing at least 75 homes to date.
Surprise, surprise! A few days passed and the buyers decided that they wanted to see a whole new slew of homes in a neighborhood that they never considered before. When asked what happened to their two finalists, they said that they were worried they hadn’t seen everything and that they might miss out on a better deal.
Ok, let’s nip this in the bud right now. When you are eclipsing 75 showings, its official…YOU HAVE SEEN EVERYTHING. The truth is, you could go on like this forever and feel like you haven’t seen everything. There will always be a story of someone that got a better deal. You can’t win that game, but you can ensure that you get a good deal for yourself, your price range, and your criteria. Stop chasing the deal of the century because you’ll end up frustrated, unfulfilled and without a home. Trust your gut instinct, stop over analyzing everything, make a decision, and get on with your life. Real Estate agents are the only ones that are supposed to look at homes for the rest of their lives.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, November 20, 2009
Help Us Help The Homeless Of Denver
For the past ten years I (Dan) and my wife Jennifer have been gathering bags full of clothes, food, and other necessities to give to the homeless. Right around this time of year we ask our clients, staff, business associates, friends and family to help us by donating items that we can pack into Christmas bags. Then on the first Saturday of December our family plus the staff from our two businesses go to the rescue mission in Denver to hand out the bags. This year we will again be giving to the homeless although we have changed our format somewhat. Instead of gathering items and giving out bags we decided to accept donations and turn that into MacDonald’s gift certificates. We want to see how many people we can feed this year giving each person a $10 gift certificate. We believe the homeless will be much happier with the gift of getting $10 dollars worth of food. If you want to donate as always I can provide you a donation receipt for your tax records which is deductible since we conduct this event through our 501c3 charity Agape Ranch, Inc. Please let me know if you would like to participate before December 4th. On December 5th will be visiting the homeless outside the rescue mission down town. Finally if you believe in this event and want to share the news with friends, colleagues or family please feel free to copy and paste this information into an email to pass along. Thank you for your consideration and generosity in the past we sincerely appreciate it.
Sincerely,
Dan Polimino
Sincerely,
Dan Polimino
Your Chance To Win $250,000 dollars In Cash Towards Your Dream Home
Colorado Realtors Dan Polimino, Gary Lohrman and Mortgage Lender Andy Jorgensen are at it again.
This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.
Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.
Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream home.” It’s no gimmick and there are no tricks.
Dan, Gary and Andy have been so successful with their website helping people buy their first home and get an $8,000 dollar tax so they decided to celebrate. Why celebrate because the government extended the tax credit to April 30, 2010 and created a tax credit for non first time home buyers. Check out the information about the $6500 tax credit for everyone at www.firsttimehomebuyerdenverco.com and www.taxcreditforeveryone.com .
As always if there is anything Dan, Andy or Gary can do for you in the home buying or selling process don’t hesitate to contact them. Their contact information is on the site.
Have a great weekend and Happy Thanksgiving.
This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.
Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.
Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream home.” It’s no gimmick and there are no tricks.
Dan, Gary and Andy have been so successful with their website helping people buy their first home and get an $8,000 dollar tax so they decided to celebrate. Why celebrate because the government extended the tax credit to April 30, 2010 and created a tax credit for non first time home buyers. Check out the information about the $6500 tax credit for everyone at www.firsttimehomebuyerdenverco.com and www.taxcreditforeveryone.com .
As always if there is anything Dan, Andy or Gary can do for you in the home buying or selling process don’t hesitate to contact them. Their contact information is on the site.
Have a great weekend and Happy Thanksgiving.
Wednesday, November 18, 2009
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado http://ping.fm/5kiZ7
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado
Fuller Sotheby’s agent Dan Polimino talks about how the tax credit extension has the phone ringing and people buying homes in Denver Colorado. He also talks about what it means for future buyers and seller. Finally he tackles the outlook over the final six weeks of the year.
Monday, November 16, 2009
Good News For Home Buyers! By Dan Polimino.
I am sure by now that you saw the news from two weeks ago about the first-time home buyers’ tax credit being extended through April 30, 2010 and Congress creating a new credit for people other than first-time home buyers.
This was one of the best scenarios we could hope for. The only way that this could have been better is if it was a $15,000 tax credit for first-time buyers and everyone else, but we’ll take what they passed. More importantly, there are several reasons why this will continue to help the housing market and the economy overall.
First, you have seen me write this before the first $8,000 tax credit really did work. It got people off their couch, in the market, sold homes, put people to work, and stimulated the economy. Second, as I have said before, this crisis started with housing and housing will lead the way in turning the economy around. That’s why this critical legislation needs to be extended. It had a proven track record of success and will continue to benefit the country.
The $6500 tax credit for everyone else is also a strong move to get more people to buy homes. There are some preconditions here like you must have lived in your current home for at least five years before you can upgrade and cash in on the $6500. There are also some income limitations to be eligible for the tax credit, but overall, the incentive will bring more buyers into the market. (To find out all the fine details about the tax credit go to www.firsttimehomebuyerdenverco.com.)
Finally, there are a lot of reasons to buy a home right now: historically low housing prices, low interest rates, plenty of selection, motivated sellers, and cash incentives from the government. It’s almost the perfect storm for buyers. I say “almost” because the one piece of the puzzle that still needs to come around is the loosening of credit for buyers. We need to put pressure on Washington to get the banks to lend out more money with more favorable conditions.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
This was one of the best scenarios we could hope for. The only way that this could have been better is if it was a $15,000 tax credit for first-time buyers and everyone else, but we’ll take what they passed. More importantly, there are several reasons why this will continue to help the housing market and the economy overall.
First, you have seen me write this before the first $8,000 tax credit really did work. It got people off their couch, in the market, sold homes, put people to work, and stimulated the economy. Second, as I have said before, this crisis started with housing and housing will lead the way in turning the economy around. That’s why this critical legislation needs to be extended. It had a proven track record of success and will continue to benefit the country.
The $6500 tax credit for everyone else is also a strong move to get more people to buy homes. There are some preconditions here like you must have lived in your current home for at least five years before you can upgrade and cash in on the $6500. There are also some income limitations to be eligible for the tax credit, but overall, the incentive will bring more buyers into the market. (To find out all the fine details about the tax credit go to www.firsttimehomebuyerdenverco.com.)
Finally, there are a lot of reasons to buy a home right now: historically low housing prices, low interest rates, plenty of selection, motivated sellers, and cash incentives from the government. It’s almost the perfect storm for buyers. I say “almost” because the one piece of the puzzle that still needs to come around is the loosening of credit for buyers. We need to put pressure on Washington to get the banks to lend out more money with more favorable conditions.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, November 13, 2009
Planning On Buying. By Dan Polimino.
On Wednesday, Move.com, the company that also owns the more popular Realtor.com, published a survey they conducted forecasting home buying in 2010. According to Move.com one in 20 Americans say they plan on buying a home within the coming year. While that doesn’t seem like a lot of people the most interesting part of the data are the demographics. The people most likely to buy will have a median age of 34 or younger and will be living in the South and West according to the survey.
If that’s true it bodes well for Colorado. Denver has been one of the first cities to lead the charge out of the housing slump. Denver also has continued to grow through this recession because it’s an attractive place to live and work. Young people flock to Denver because of jobs, lifestyle and climate. Corporations are relocating their headquarters here or building new facilities and along with that come new young workers.
According to the survey, roughly one quarter of all potential buyers said the number one reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes. Now let’s take that data and see how it applies in our local market. Again that fits in perfectly with what Denver has to offer and what we are hearing from buyers. With the exception of the luxury market home prices bottomed out earlier this year and now are headed up. The buyers we are working with know that foreclosures are harder to come by, they don’t seem motivated by interest rates and the inventory has not been historically high in Denver since 2006.
Of course this is just one survey, but it is encouraging for Denver and its surrounding suburbs. There is no question that if the recovery continues Denver is poised perfectly to appeal to what buyers want and where they want it.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
If that’s true it bodes well for Colorado. Denver has been one of the first cities to lead the charge out of the housing slump. Denver also has continued to grow through this recession because it’s an attractive place to live and work. Young people flock to Denver because of jobs, lifestyle and climate. Corporations are relocating their headquarters here or building new facilities and along with that come new young workers.
According to the survey, roughly one quarter of all potential buyers said the number one reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes. Now let’s take that data and see how it applies in our local market. Again that fits in perfectly with what Denver has to offer and what we are hearing from buyers. With the exception of the luxury market home prices bottomed out earlier this year and now are headed up. The buyers we are working with know that foreclosures are harder to come by, they don’t seem motivated by interest rates and the inventory has not been historically high in Denver since 2006.
Of course this is just one survey, but it is encouraging for Denver and its surrounding suburbs. There is no question that if the recovery continues Denver is poised perfectly to appeal to what buyers want and where they want it.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, November 11, 2009
Are We Recovered? By Dan Polimino.
Wall Street has seen 10,000 on the big board a couple of time over the last week which has led many people to believe the economic recovery is here. I am not so sure that it is and here’s why.
By all measuring sticks there is no foundational basis for the stock market to be at 10,000 it’s all based on speculation. Think about it, has the job report boosted investor confidence? I think not. The unemployment rates goes up every month and every quarter. Has consumer spending or retail sales fueled the run up in the market? Again that would be a big “NO”. Has foreclosures been on the decrease? No they are on the increase. The only reason I can see that investors have come back into the market is speculation. They believed that the market was as low as it was going to get and they feared they should buy soon to capitalize on a run up in value. So what’s the problem with that? It’s kind of like a house built on cards, not very stable and could collapse at any time. Don’t get me wrong it’s good that people are no longer losing money, their retirement, their life savings and companies are worth something again. I just think its pre mature to say the stock market is up and the recovery is here.
I think the real recovery rests solely on job, job, and jobs. It’s not going to be enough to slow down unemployment we need to reverse unemployment. People have to stop losing their job and companies need to start hiring again in mass and I am not just talking about the big boys. People need to start small businesses, get loans to start businesses and small business needs to expand and hire people. Consumer spending needs to be on the increase for more than one quarter along with consumer confidence. When these things happen the recovery will be here, it will be stable and it will be sustained.
I am not trying to be the kill joy here, but the real reason companies have showed better than predicted quarterly earnings is because they have laid off a lot of people and drastically cut expenses making the bottom line look better than expected. It’s good that Wall Street is making money again, but the real recovery is when the average American is making money again.
By all measuring sticks there is no foundational basis for the stock market to be at 10,000 it’s all based on speculation. Think about it, has the job report boosted investor confidence? I think not. The unemployment rates goes up every month and every quarter. Has consumer spending or retail sales fueled the run up in the market? Again that would be a big “NO”. Has foreclosures been on the decrease? No they are on the increase. The only reason I can see that investors have come back into the market is speculation. They believed that the market was as low as it was going to get and they feared they should buy soon to capitalize on a run up in value. So what’s the problem with that? It’s kind of like a house built on cards, not very stable and could collapse at any time. Don’t get me wrong it’s good that people are no longer losing money, their retirement, their life savings and companies are worth something again. I just think its pre mature to say the stock market is up and the recovery is here.
I think the real recovery rests solely on job, job, and jobs. It’s not going to be enough to slow down unemployment we need to reverse unemployment. People have to stop losing their job and companies need to start hiring again in mass and I am not just talking about the big boys. People need to start small businesses, get loans to start businesses and small business needs to expand and hire people. Consumer spending needs to be on the increase for more than one quarter along with consumer confidence. When these things happen the recovery will be here, it will be stable and it will be sustained.
I am not trying to be the kill joy here, but the real reason companies have showed better than predicted quarterly earnings is because they have laid off a lot of people and drastically cut expenses making the bottom line look better than expected. It’s good that Wall Street is making money again, but the real recovery is when the average American is making money again.
Monday, November 9, 2009
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for November 9th in Denver http://ping.fm/ORg8t
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for November 9th in Denver
Fuller Sotheby's agent Dan Polimino talks about who is eligible for the new tax credit that congress passed on November 6th. There is a an extension for first time home buyers until April 30th to claim an $8,000 refund check and there is a $6500 dollar tax credit for people who have lived in their home at least five years.
Friday, November 6, 2009
Thursday, November 5, 2009
Tax Credit for Everyone!
There is now a tax credit for everyone and an extension for first time home buyers!
Today is GOOD NEWS for those of you thinking about buying a home or a first home. The House and Senate have finalized a version of the tax credit extension for first time buyers and created a credit for all buyers. The current proposal will extend the current $8000 first time home buyer tax credit that expires on November 30, 2009 to April 30, 2010. In addition, there will be a clause that allows you to close beyond that point (to June 30, 2010) provided you are under contract by April 30th. The House and Senate are also expanding the tax credit not to just first time home buyers. Existing homeowners looking to “move up” from their current property can receive up to a $6500 tax credit incentive. There are certain guidelines that must be followed. Feel free to contact us directly for this information.
So you folks that have procrastinated about getting your finances in order, improving your credit scores, getting pre-qualified, saving for a down payment, talking to a lender or real estate agent, or just had a tough time finding a property this is your golden opportunity. For those of you who want to move up and buy a new home this is great news and a great deal. Housing prices are low, interest rates are low and now you get money from the government for buying a home. Don’t let this one slip away.
Visit http://ping.fm/zMF8D for more information and your chance to win $250,000 dollars toward your next home. Feel free to contact Dan, Andy or Gary to get started today moving into a new home.
Sincerely,
Dan Polimino, Gary Lohrman and Andy Jorgensen.
Today is GOOD NEWS for those of you thinking about buying a home or a first home. The House and Senate have finalized a version of the tax credit extension for first time buyers and created a credit for all buyers. The current proposal will extend the current $8000 first time home buyer tax credit that expires on November 30, 2009 to April 30, 2010. In addition, there will be a clause that allows you to close beyond that point (to June 30, 2010) provided you are under contract by April 30th. The House and Senate are also expanding the tax credit not to just first time home buyers. Existing homeowners looking to “move up” from their current property can receive up to a $6500 tax credit incentive. There are certain guidelines that must be followed. Feel free to contact us directly for this information.
So you folks that have procrastinated about getting your finances in order, improving your credit scores, getting pre-qualified, saving for a down payment, talking to a lender or real estate agent, or just had a tough time finding a property this is your golden opportunity. For those of you who want to move up and buy a new home this is great news and a great deal. Housing prices are low, interest rates are low and now you get money from the government for buying a home. Don’t let this one slip away.
Visit http://ping.fm/zMF8D for more information and your chance to win $250,000 dollars toward your next home. Feel free to contact Dan, Andy or Gary to get started today moving into a new home.
Sincerely,
Dan Polimino, Gary Lohrman and Andy Jorgensen.
Wednesday, November 4, 2009
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado
Fuller Sothebys Agent Dan Polimino talks about the recent decision in Congress to extend the first time home buyers tax credit. Dan says it's good for everyone, but don't get too excited because it's not a done deal yet.
Tuesday, November 3, 2009
No Urgency. By Dan Polimino.
A husband and wife are on vacation, the husband says to the wife, “Hey, what do you think about maybe making an on offer on that home we saw three months ago?” The wife says, “Yeah, I kinda liked it. Let’s call our realtor and take another look when we get back home.”
The nice couple gets back home, takes another look at the home for sale and decides to wait until spring before they make a move and buy a new home.
This scenario is being played out day after day, all over the country, and all over Colorado. I call it “people who decided not to decide.” You see in today’s environment that there are people who want to buy and can buy, but they are paralyzed by indecision and fear. Mostly, fear of the unknown. “Did they buy too soon, did they pay too much, did they get a good deal, was there a better home for less money on the market, and will the value of the home drop after they buy it?” Sometimes, when buyers get out of my car and get into their car, you can almost hear the sigh of relief. It’s as if the husband looks at the wife and she leans over to say, “Thank god we didn’t have to make a decision today.” This begs the question, “Why are they looking in the first place if they don’t want to make a decision?” The answer circles back around to fear. They’re afraid that they’ll miss out, miss the bottom of the market, and miss out on an opportunity.
As a realtor, I understand their strategy of not making a decision. In most cases, their reasoning is sound. Let’s use the luxury market as an example. There is a lot of inventory on the market, they looked at that home three months ago and it’s still on the market. Chances are, next spring that home will continue to be on the market so in their world, there is absolutely no reason to rush, to be in a hurry, and make an offer. In other words, there is no reason for urgency.
NO REASON FOR URGENCY. Those four words sum up the majority of the housing problems. How do you create urgency in a market that has no urgency? My business partners and I are working on a few different business models to solve just this problem, but rest assured that until you solve it, we’ll keep reliving the same story of the nice couple who want to wait for another day to buy a home.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
The nice couple gets back home, takes another look at the home for sale and decides to wait until spring before they make a move and buy a new home.
This scenario is being played out day after day, all over the country, and all over Colorado. I call it “people who decided not to decide.” You see in today’s environment that there are people who want to buy and can buy, but they are paralyzed by indecision and fear. Mostly, fear of the unknown. “Did they buy too soon, did they pay too much, did they get a good deal, was there a better home for less money on the market, and will the value of the home drop after they buy it?” Sometimes, when buyers get out of my car and get into their car, you can almost hear the sigh of relief. It’s as if the husband looks at the wife and she leans over to say, “Thank god we didn’t have to make a decision today.” This begs the question, “Why are they looking in the first place if they don’t want to make a decision?” The answer circles back around to fear. They’re afraid that they’ll miss out, miss the bottom of the market, and miss out on an opportunity.
As a realtor, I understand their strategy of not making a decision. In most cases, their reasoning is sound. Let’s use the luxury market as an example. There is a lot of inventory on the market, they looked at that home three months ago and it’s still on the market. Chances are, next spring that home will continue to be on the market so in their world, there is absolutely no reason to rush, to be in a hurry, and make an offer. In other words, there is no reason for urgency.
NO REASON FOR URGENCY. Those four words sum up the majority of the housing problems. How do you create urgency in a market that has no urgency? My business partners and I are working on a few different business models to solve just this problem, but rest assured that until you solve it, we’ll keep reliving the same story of the nice couple who want to wait for another day to buy a home.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, October 28, 2009
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado ( http://ping.fm/1KzRa )
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado.
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado.
Tuesday, October 27, 2009
The Market. By Dan Polimino.
You know how this goes. You are at an event or party and someone asks you, “So, what do you do?” I answer, “I am a realtor.” After that bad look like someone just stepped on their toe leaves their face, they immediately ask you, “How is the market?”
I get these questions about four or five times per week so I am pretty adept at answering with extreme precision. So you may be wondering “How is the market?”
Answer: I am more optimistic than I have been in a long, long time and this isn’t just realtor speak. Here’s what I saw over the spring, summer, and fall selling seasons in Denver.
The $8,000 first-time home buyer stimulus did work and people took advantage of the opportunity. Homes in the 250K price range and below sold, many were sold at full price and inventory is low in this bandwidth. Overall, it was a good season for buyers and sellers in the lower price ranges.
The good news has started to creep up to the mid-level price ranges but not as fast as everyone had hoped. Yes, deals are getting done in the 400K, 500K, and 600K price ranges, but not at the pace everyone would enjoy or benefit from.
The biggest news is the activity in the 800K to 1.2 million dollar bandwidth. We not only saw a lot of showings in the last six months, but we saw more people than I expected pulling the trigger, making offers, and closing on homes. I think that this was attributed to several factors. First, buyers realized that there was an excellent opportunity here with a large number of homes available on the market and at rock bottom prices. Some sellers got smart, listened to the market, priced their homes accordingly, and sold them.
I have been saying for some time clearly there is pent-up demand building from buyers to get into the market. These people want to buy and can buy, but they just aren’t sure when is the appropriate time to jump in. Given the market news above, maybe that time is now or is fast approaching.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
I get these questions about four or five times per week so I am pretty adept at answering with extreme precision. So you may be wondering “How is the market?”
Answer: I am more optimistic than I have been in a long, long time and this isn’t just realtor speak. Here’s what I saw over the spring, summer, and fall selling seasons in Denver.
The $8,000 first-time home buyer stimulus did work and people took advantage of the opportunity. Homes in the 250K price range and below sold, many were sold at full price and inventory is low in this bandwidth. Overall, it was a good season for buyers and sellers in the lower price ranges.
The good news has started to creep up to the mid-level price ranges but not as fast as everyone had hoped. Yes, deals are getting done in the 400K, 500K, and 600K price ranges, but not at the pace everyone would enjoy or benefit from.
The biggest news is the activity in the 800K to 1.2 million dollar bandwidth. We not only saw a lot of showings in the last six months, but we saw more people than I expected pulling the trigger, making offers, and closing on homes. I think that this was attributed to several factors. First, buyers realized that there was an excellent opportunity here with a large number of homes available on the market and at rock bottom prices. Some sellers got smart, listened to the market, priced their homes accordingly, and sold them.
I have been saying for some time clearly there is pent-up demand building from buyers to get into the market. These people want to buy and can buy, but they just aren’t sure when is the appropriate time to jump in. Given the market news above, maybe that time is now or is fast approaching.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Wednesday, October 21, 2009
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado ( http://ping.fm/3WkwG )
Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado. This week Dan says the first time home buyer frenzy is on. Sellers and buyers are moving fast before the November 30th deadline.
Monday, October 19, 2009
Marketing Real Estate In A Web 2.0 World. By Dan Polimino.
Ok, for the last several years, you have been hearing about real estate being marketed via social media, blogging, video web portals, and syndication. You know it exists, you know people are doing it, but you’re unsure whether or not it produces results.
The answer is yes, it can produce results, but are there some rules for doing it right and doing it well?
1. Blogging – this is writing about a home, area, neighborhood, or agent services. Three simples rules for blogging with effectiveness:
a. You must do it at least three times a week, anything less will not produce results so don’t bother.
b. Its best if it is an original content not copied or linked from another site.
c. You must set up an effective network of places to post your information like other blogs, RSS feeds, and real estate web portals.
2. Social media – yes, you should talk about homes for sale on social networking sites. If you had a home for sale, you would tell all your friends about it. That’s called word of mouth. Putting this same information all over social networking sites is no different; it’s spreading the news to many more people much more quickly. Three simple rules here:
a. Be careful not to post the same information too much every week. Telling your friends three times a week you that need to sell your home will get you knocked off their friends list.
b. Make sure that you include a link back to a website where people can get more information.
c. Again, make sure that you have set up a network and are utilizing as many social sites as possible.
3. Syndication - this is a process of taking listing information and placing it all over internet real estate related websites. Two simple rules here:
a. Make sure that you know where that information is being placed.
b. Make sure that you check it often to ensure that it’s being displayed correctly.
Finally, it is imperative that if you decide to market on the internet, you stay married to the process. Trying this stuff for a month and hoping for results won’t work. You must be faithful to all of these practices day in and day out for at least a year to two years to see results.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
The answer is yes, it can produce results, but are there some rules for doing it right and doing it well?
1. Blogging – this is writing about a home, area, neighborhood, or agent services. Three simples rules for blogging with effectiveness:
a. You must do it at least three times a week, anything less will not produce results so don’t bother.
b. Its best if it is an original content not copied or linked from another site.
c. You must set up an effective network of places to post your information like other blogs, RSS feeds, and real estate web portals.
2. Social media – yes, you should talk about homes for sale on social networking sites. If you had a home for sale, you would tell all your friends about it. That’s called word of mouth. Putting this same information all over social networking sites is no different; it’s spreading the news to many more people much more quickly. Three simple rules here:
a. Be careful not to post the same information too much every week. Telling your friends three times a week you that need to sell your home will get you knocked off their friends list.
b. Make sure that you include a link back to a website where people can get more information.
c. Again, make sure that you have set up a network and are utilizing as many social sites as possible.
3. Syndication - this is a process of taking listing information and placing it all over internet real estate related websites. Two simple rules here:
a. Make sure that you know where that information is being placed.
b. Make sure that you check it often to ensure that it’s being displayed correctly.
Finally, it is imperative that if you decide to market on the internet, you stay married to the process. Trying this stuff for a month and hoping for results won’t work. You must be faithful to all of these practices day in and day out for at least a year to two years to see results.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, October 15, 2009
House of Charm at Observatory Park
This incredible custom home combines the charm of Observatory Park with luxury living. This 5 bedroom, 7 bathroom home with a fully finished basement boasts almost 5400 finished square feet.
The home has been designed with impeccable detail and attention to the finest materials. Finishes include Brazilian Cherry wood floors, Cherry Cabinets, Cherry plantation shutters, hand trowel walls and extensive use of clear Alder for the doors and paneling. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing of this property at 2412 S Josephine St Denver, CO 80210.
The home has been designed with impeccable detail and attention to the finest materials. Finishes include Brazilian Cherry wood floors, Cherry Cabinets, Cherry plantation shutters, hand trowel walls and extensive use of clear Alder for the doors and paneling. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing of this property at 2412 S Josephine St Denver, CO 80210.
Wednesday, October 14, 2009
Fuller Sotheby's agent Dan Polimino talks about this weeks Market Update for Denver, Colorado
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado. Dan addresses the problem of appraisals and how sellers can avoid getting caught in the trap of their home not appraising for asking price.
From: http://ping.fm/WARZ0
From: http://ping.fm/WARZ0
Fuller Sotheby's agent Dan Polimino talks about this weeks Market Update for Denver, Colorado
Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado. Dan addresses the problem of appraisals and how sellers can avoid getting caught in the trap of their home not appraising for asking price.
Tuesday, October 13, 2009
Denver YourHub.com - The Denver Post's Local and Citizen Journalism Portal. Hub Pages Blogs Blog ( http://ping.fm/ISraE )
Luxury and Charm Of Glenmoor Country Club
This beautiful home features an abundance of architectural detail. Art niches, built-ins, and dramatic arches evoke European craftsmanship throughout this 6 bedroom, 6 ½ bathroom masterwork. The freshly completed low maintenance deck features lush views of Glenmoor golf course. Classic brick and stucco finish, new Milgard windows and doors throughout, and a 4-car garage make this showcase a joy to live in.
Call Dan Polimino 303-522-1161 or Gary Lorhman at 303-829-5900 for a showing of this property at 37 Glenmoor Dr Cherry Hills Village, CO 80113.
Call Dan Polimino 303-522-1161 or Gary Lorhman at 303-829-5900 for a showing of this property at 37 Glenmoor Dr Cherry Hills Village, CO 80113.
Monday, October 12, 2009
Will It Appraise, Part Two. By Dan Polimino.
Last week, we began to take a look at a hot topic these days in real estate and that’s appraisals. We are seeing more and more people making solid offers on homes only to find out two weeks later that it did not appraise for the asking price. There are many reasons for this and if you would like to re-read part one of this series, you can, at www.coloradodreamhouse.com/denverpost
Last week, we spent a fair amount of time talking about what buyers can do to protect themselves in the asking price versus appraised price dilemma. This week, I want to pass along some information for sellers to protect their homes from appraising well below the asking price.
Tip #1) Understand and be realistic about what is the market value of your home. I know what you want to sell it for, but remember, there must be comparables in your market to justify it.
Tip #2) Don’t look at comps that go back farther than 6 months. In a rapidly changing market, appraisers are going to be first looking at sold comparables in the last three months and properties that are under contract. Looking at comparables from 12 months ago is an extinct barometer.
My business partner, Gary Lorhman, and I started a policy in the beginning of May when the new Home Valuation Code of Conduct rules came down from Fannie May and Freddie Mac. We simply made a decision to meet the appraiser representing the buyer at every one of our listings that was under contract. At that meeting, we would greet the appraiser, tell them about the special features of the home and hand them the comparables which we used to price the home. That’s it, no more and no less. To date, our system has worked 100 percent. Every one of our properties that we have sold on behalf of our clients has appraised for the sale price. It’s important to point out to people that HVCC does not prohibit a realtor from speaking to an appraiser and providing information on comparables. I’ve found that sellers and agents have been scared into thinking that a conversation with an appraiser would land them in the big house. Not true, so be smart, price it right, and make your homework available to appraisers.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Last week, we spent a fair amount of time talking about what buyers can do to protect themselves in the asking price versus appraised price dilemma. This week, I want to pass along some information for sellers to protect their homes from appraising well below the asking price.
Tip #1) Understand and be realistic about what is the market value of your home. I know what you want to sell it for, but remember, there must be comparables in your market to justify it.
Tip #2) Don’t look at comps that go back farther than 6 months. In a rapidly changing market, appraisers are going to be first looking at sold comparables in the last three months and properties that are under contract. Looking at comparables from 12 months ago is an extinct barometer.
My business partner, Gary Lorhman, and I started a policy in the beginning of May when the new Home Valuation Code of Conduct rules came down from Fannie May and Freddie Mac. We simply made a decision to meet the appraiser representing the buyer at every one of our listings that was under contract. At that meeting, we would greet the appraiser, tell them about the special features of the home and hand them the comparables which we used to price the home. That’s it, no more and no less. To date, our system has worked 100 percent. Every one of our properties that we have sold on behalf of our clients has appraised for the sale price. It’s important to point out to people that HVCC does not prohibit a realtor from speaking to an appraiser and providing information on comparables. I’ve found that sellers and agents have been scared into thinking that a conversation with an appraiser would land them in the big house. Not true, so be smart, price it right, and make your homework available to appraisers.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Thursday, October 8, 2009
Magnificent Oakwood Home in Kentley Hills
The 4 bedroom, 3 bath boasts over 4100 finished square feet and over 5800 total square feet. The huge gourmet kitchen with cherry cabinets and granite island opens to a spacious family room with a fireplace. The sliding glass doors lead out to your professionally landscaped yard with your own coy pond waterfall and stream. A separate dining room is perfect for entertaining a large group as is the enormous living room. The main floor has a combination of hardwood floors and tile with a spacious floor plan. The study is a perfect comfortable home office. The master suite is the jewel of the upper level providing more than enough space for a sitting area and of course the beautifully adorned private master bath. The three second floor secondary bedrooms are large providing plenty of room for kids to enjoy. All the bathrooms have been finished with granite countertops. The home is immaculate and in move in condition.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Tuesday, October 6, 2009
Spanish Style Villa in Castle Rock
Built in 1983 the 9000 square foot Spanish style Villa was built for the Maytag family. They were so concerned with building the highest quality home that they commissioned Gerald H Phipps commercial contractors to build their Colorado getaway. At the time the family spared no expense and gave architects a free hand in designing an authentic turn of the century Spanish villa. By the end, the project cost 2.5 million in construction which was an incredible amount of money in 1983.The current owners purchased the property from the Maytag’s 10 years ago and since then have refined the property to make it the epitome of elegance and design you see today.
The Villa sits on 227 pristine acres. The land has a little of bit of everything with forested hills, open meadows, and gorgeous rock outcroppings. There are extensive views of majestic snow capped peaks, peaceful valleys and the near town of Castle Rock. It’s perfect for a private barn, equestrian center, corrals or just incredible hiking and sightseeing.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing of this property at 333 Faraway Place, Castle Rock, CO.
The Villa sits on 227 pristine acres. The land has a little of bit of everything with forested hills, open meadows, and gorgeous rock outcroppings. There are extensive views of majestic snow capped peaks, peaceful valleys and the near town of Castle Rock. It’s perfect for a private barn, equestrian center, corrals or just incredible hiking and sightseeing.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing of this property at 333 Faraway Place, Castle Rock, CO.
Monday, October 5, 2009
Will It Appraise, Part One. By Dan Polimino.
“Will it appraise?” This is the question that every buyer must ask themselves these days before they make an offer on a property. Appraisals are becoming more and more of an issue when it comes to buying a home. Why? Well, there are several reasons for this and I’ll detail some, but not all below.
1. When sellers put their home up for sale many times, they are unwilling to sell it at market value. As such, their idea of the worth of the home and the appraiser’s valuation may not be in sync. With vast drops in property values, we see this situation played out more and more.
2. We know that organizations like Fannie and Freddie Mac who buy mortgages from lenders have come down hard on appraisers, enforcing new rules and guidelines. This has made a lot of appraisers scared and conservative in their valuations, to say the least.
3. In conjunction with the new rules and guidelines, a buyer could have an appraiser working on their contract that is not from the area nor are they familiar with the neighborhood. I am not saying that the appraiser will do a poor job, but having an area or neighborhood of expertise certainly helps for fair valuations.
Now that we have documented a few of the problems associated with appraisals, lets take a look at an example of what could go wrong and often does.
A buyer finds a home that they want and the asking price is 200k. They’ve looked at everything, believe the 200K is a good deal for this home, and they make a full-price offer. The seller accepts, the lender orders the appraisal, and it comes in at 185K. In this case, there are three remedies: a) The seller reduces the sale price to 185K and the buyer agrees to continue with the contract. b) The seller won’t or can’t reduce the price to 185K, but the buyer can move forward if they come with an extra 15K cash out of their pocket at closing. c) The buyer can terminate the contract and move on.
While this seems straightforward and academic, you cannot believe how many times we are running into this on a daily basis. A word to the wise: buyers, before you make an offer on a home, get with your agent and really make sure that the home you are making an offer on will appraise at the price you are offering.
Next week we’ll tackle what sellers can do to make sure their property will appraise at the asking price.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
1. When sellers put their home up for sale many times, they are unwilling to sell it at market value. As such, their idea of the worth of the home and the appraiser’s valuation may not be in sync. With vast drops in property values, we see this situation played out more and more.
2. We know that organizations like Fannie and Freddie Mac who buy mortgages from lenders have come down hard on appraisers, enforcing new rules and guidelines. This has made a lot of appraisers scared and conservative in their valuations, to say the least.
3. In conjunction with the new rules and guidelines, a buyer could have an appraiser working on their contract that is not from the area nor are they familiar with the neighborhood. I am not saying that the appraiser will do a poor job, but having an area or neighborhood of expertise certainly helps for fair valuations.
Now that we have documented a few of the problems associated with appraisals, lets take a look at an example of what could go wrong and often does.
A buyer finds a home that they want and the asking price is 200k. They’ve looked at everything, believe the 200K is a good deal for this home, and they make a full-price offer. The seller accepts, the lender orders the appraisal, and it comes in at 185K. In this case, there are three remedies: a) The seller reduces the sale price to 185K and the buyer agrees to continue with the contract. b) The seller won’t or can’t reduce the price to 185K, but the buyer can move forward if they come with an extra 15K cash out of their pocket at closing. c) The buyer can terminate the contract and move on.
While this seems straightforward and academic, you cannot believe how many times we are running into this on a daily basis. A word to the wise: buyers, before you make an offer on a home, get with your agent and really make sure that the home you are making an offer on will appraise at the price you are offering.
Next week we’ll tackle what sellers can do to make sure their property will appraise at the asking price.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, October 2, 2009
Exceptional Residence in Heritage Estates
This exceptional residence located in Heritage Estates offers the epitome of a luxurious lifestyle. A sample of the outstanding features and appointments of this home include crown molding, hardwood floors, floor to ceiling windows, travertine tile and custom woodwork throughout.
The exterior boasts a swimming pool, spa, and an integrated water feature. The spectacular views of the golf course and majestic mountains are inspiring from every angle.
Heritage Estates is a Golf Course Community positioned around the fairways of the Arnold Palmer designed Championship Lone Tree Golf Course, a splendid trail system, and a collection of award winning masterpiece custom homes. Located minutes from high-end shopping districts, the Denver Tech Center, and Mountain Resorts, this is the perfect community even for the discriminating buyers.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
The exterior boasts a swimming pool, spa, and an integrated water feature. The spectacular views of the golf course and majestic mountains are inspiring from every angle.
Heritage Estates is a Golf Course Community positioned around the fairways of the Arnold Palmer designed Championship Lone Tree Golf Course, a splendid trail system, and a collection of award winning masterpiece custom homes. Located minutes from high-end shopping districts, the Denver Tech Center, and Mountain Resorts, this is the perfect community even for the discriminating buyers.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Thursday, October 1, 2009
Fuller Sothebys Agent Dan Polimino talks about this weeks market update for Denver, Colorado
Fuller Sothebys Agent Dan Polimino talks about the final 60 days for first time home buyers and the $8,000 dollar tax credit. He outlines a plan for any first time home buyer looking to meet the deadline.
Wednesday, September 30, 2009
Amazing 12,000 sq ft custom ranch surrounded by 400 acres
With a level of attention to detail rarely seen, this amazing 12,000 square-foot, five bedroom, seven bathroom home is the perfect blend of old-world charm and every modern convenience.
Call Dan Polimino 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing.
Call Dan Polimino 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing.
Monday, September 28, 2009
60 Days. By Dan Polimino.
The two most frequently asked questions I am getting these days are: 1) Is there still time left to get a home and qualify for the first time home buyer’s 8,000-dollar credit? 2) Will the government extend the first time home buyer’s tax credit?
First things first: yes, there is still time left to get qualified and find a home but you need to move NOW. Have a discussion with a lender as soon as possible about your credit, down payment, or down payment assistance and how much you qualify for. Then get out with a realtor and start looking for a home, condo, or townhome. This may take a little while because in the final 60 days of this tax credit, we expect to see a lot of people trying to buy a home. That means that there might be more people vying for the same home than you would normally see at this time of the year. Most transactions take at least 30 days to close. That means that you need to be under contract with a property no later than November 1st. If I were a first time home buyer, I would take the first two weeks of October to get my lending situation in order. I would find a good realtor no later than mid-October. Take the final two weeks or less to find a home and make a solid offer on a home that could be accepted by November 1st.
Our second question is, “Will the government extend the tax credit?” The National Association of Realtors has been working hard on this with Washington lawmakers for many months now. My guess is that Congress will approve a second home buyer tax credit, but in what form is any body’s guess. Some say that they will merely extend the $8,000 credit we have today for first time home buyers. Some say that the $8,000 will be for any buyer and others think that the tax credit may even go as high as $15,000.
With that said, DO NOT WAIT! One thing we know for sure is that Congress is unpredictable at best. If you are counting on them to make a better deal for you to buy a home, you are gambling with the odds not in your favor.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
First things first: yes, there is still time left to get qualified and find a home but you need to move NOW. Have a discussion with a lender as soon as possible about your credit, down payment, or down payment assistance and how much you qualify for. Then get out with a realtor and start looking for a home, condo, or townhome. This may take a little while because in the final 60 days of this tax credit, we expect to see a lot of people trying to buy a home. That means that there might be more people vying for the same home than you would normally see at this time of the year. Most transactions take at least 30 days to close. That means that you need to be under contract with a property no later than November 1st. If I were a first time home buyer, I would take the first two weeks of October to get my lending situation in order. I would find a good realtor no later than mid-October. Take the final two weeks or less to find a home and make a solid offer on a home that could be accepted by November 1st.
Our second question is, “Will the government extend the tax credit?” The National Association of Realtors has been working hard on this with Washington lawmakers for many months now. My guess is that Congress will approve a second home buyer tax credit, but in what form is any body’s guess. Some say that they will merely extend the $8,000 credit we have today for first time home buyers. Some say that the $8,000 will be for any buyer and others think that the tax credit may even go as high as $15,000.
With that said, DO NOT WAIT! One thing we know for sure is that Congress is unpredictable at best. If you are counting on them to make a better deal for you to buy a home, you are gambling with the odds not in your favor.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.coloradodreamhouse.com/denverpost
Friday, September 25, 2009
Attractive 35 Acre Colorado Ranch with 25 Acre ski lake
This place has it all. Stunning detail is the theme throughout this amazing 6,500 square foot, four-bedroom, seven-bathroom home, rich cherry wood graces the doors, stairways, main-floor walls, cabinetry, and even the master suite’s his and hers closets. Hand-built custom touches abound, including extensive artisan-crafted finishes, even down to the switch plates. The same devotion to precision applies to the 35 acres surrounding the house. A 17,000-gallon koi pond, beautiful gardens, and a 25-acre ski lake are all jewels in the crown of this home.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing of the property at 14749 Straight Path Lane, Larkspur, CO 80118.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing of the property at 14749 Straight Path Lane, Larkspur, CO 80118.
Thursday, September 24, 2009
Stunning & Dream Mountain Home at 12972 Lori Dr, Conifer, CO
Enjoy stunning mountain & valley views from any of the five decks and nearly every room in this incredible five-bedroom, seven-bath privately gated home nestled on over six acres of picturesque treed, mountain property. Practicality and high style blend perfectly to create a truly beautiful highland home. Extensive use of stone exteriors help this magnificent home to blend into its natural surroundings. You will enjoy the unique feel of the interior from the sweeping lines of the dramatically lighted staircase to the rare Italian marble, every turn brings a fresh delight of curves, angles, and texture.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Wednesday, September 23, 2009
How Do You Want Your Real Estate? By Dan Polimino.
As a student of marketing, I am constantly fascinated by the data that reveals how people purchases things. There clearly has been a major paradigm shift in the way people find and buy real estate. When I do consulting, I always tell the companies, “Let’s not guess what people want, let’s be sure,” and today, there are more ways than ever to quickly get a pulse on what people want.
The question I have for you today is, “How do you want your real estate?” I always hear professionals in the business debating what works, what gets people’s attentions, and what sells homes. Today, I am taking my own advice and instead of guessing what you want, I am just going to ask. If you are kind enough to send me an email and answer the questions below I promise not to use your name and divulge information. I am just looking for honest answers from you the public and how you prefer to search and buy real estate. Here are the questions:
1. What is your preferred method for finding real estate? Internet, newspaper, realtor, open house, video, TV, radio, email, referral, or some other?
2. If it’s internet, what sites do you shop for homes on the most?
3. Is video now a must for viewing homes online or on your phone?
4. Would you like to be notified about homes for sale via email and text message?
5. Do you look for open houses in the newspaper or online?
6. If you use the newspaper for your real estate needs, what do you want to see the most? Homes for resale, new construction information, market data, rentals, or all the above and why?
7. Do you still like attending an open house or are they a thing of the past?
8. Is your primary focus on getting a deal or getting the right house?
9. What’s your opinion of realtors?
10. What do you dislike about the home buying process?
A big thank you ahead of time to all those who respond to this informal questionnaire; in the end, it will help us deliver real estate exactly the way you want it and use it.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
The question I have for you today is, “How do you want your real estate?” I always hear professionals in the business debating what works, what gets people’s attentions, and what sells homes. Today, I am taking my own advice and instead of guessing what you want, I am just going to ask. If you are kind enough to send me an email and answer the questions below I promise not to use your name and divulge information. I am just looking for honest answers from you the public and how you prefer to search and buy real estate. Here are the questions:
1. What is your preferred method for finding real estate? Internet, newspaper, realtor, open house, video, TV, radio, email, referral, or some other?
2. If it’s internet, what sites do you shop for homes on the most?
3. Is video now a must for viewing homes online or on your phone?
4. Would you like to be notified about homes for sale via email and text message?
5. Do you look for open houses in the newspaper or online?
6. If you use the newspaper for your real estate needs, what do you want to see the most? Homes for resale, new construction information, market data, rentals, or all the above and why?
7. Do you still like attending an open house or are they a thing of the past?
8. Is your primary focus on getting a deal or getting the right house?
9. What’s your opinion of realtors?
10. What do you dislike about the home buying process?
A big thank you ahead of time to all those who respond to this informal questionnaire; in the end, it will help us deliver real estate exactly the way you want it and use it.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Monday, September 21, 2009
Fuller Sothebys Agent Dan Polimino talks about this weeks market update for Denver, Colorado
Fuller Sothebys agent Dan Polimino talks about this weeks market update for Denver, Colorado. His message this week is for buyers to beware about properties not appraising for value.
Monday, September 14, 2009
The Stimulus. By Dan Polimino.
My brother is in charge of North American sales for the world’s largest concrete and cement manufacturer. If anyone would have a good perspective about the stimulus plan from the Obama administration, it would be my brother. You see, the idea of the stimulus plan was to infuse money into the economy right away and create jobs. The first way they planned on doing that was providing states money so they could put people to work with road projects this past summer. The company my brother works for would clearly be the beneficiary of such a plan since road work usually means concrete. So I called my brother to find out how he and his company may be benefiting from the plan.
My brother said that they weren’t benefiting from the plan at all. In fact, he could not think of any orders that have come this past summer directly related to the stimulus plan. I asked him what happened. He said he has been talking to states for the last several months and as far as he can tell from his sources, the states have mostly used their stimulus money to pay off budget deficits. That means they didn’t buy concrete, they didn’t do road projects, and they didn’t create jobs. He said that most states have only done some maintenance projects which where scheduled to be done anyway like asphalt paving, but as far as buying concrete for new projects, it hasn’t happened.
Of course, this is just one story in a business that’s totally unrelated to real estate, but does pertain to the health of the overall economy. I am usually so focused on real estate that I forget to ask about what’s going on in other business sectors around the US.
The purpose of today’s column is simple. I just want to hear from readers on your take regarding the effectiveness of the stimulus plan. Are there more stories like my brother’s, or do you have some success stories where the stimulus plan has really made a difference? I want hear them all; good and bad, right or wrong, and they don’t have to be related to real estate. You can reach me at the email address below and I’ll publish some of the better stories.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
My brother said that they weren’t benefiting from the plan at all. In fact, he could not think of any orders that have come this past summer directly related to the stimulus plan. I asked him what happened. He said he has been talking to states for the last several months and as far as he can tell from his sources, the states have mostly used their stimulus money to pay off budget deficits. That means they didn’t buy concrete, they didn’t do road projects, and they didn’t create jobs. He said that most states have only done some maintenance projects which where scheduled to be done anyway like asphalt paving, but as far as buying concrete for new projects, it hasn’t happened.
Of course, this is just one story in a business that’s totally unrelated to real estate, but does pertain to the health of the overall economy. I am usually so focused on real estate that I forget to ask about what’s going on in other business sectors around the US.
The purpose of today’s column is simple. I just want to hear from readers on your take regarding the effectiveness of the stimulus plan. Are there more stories like my brother’s, or do you have some success stories where the stimulus plan has really made a difference? I want hear them all; good and bad, right or wrong, and they don’t have to be related to real estate. You can reach me at the email address below and I’ll publish some of the better stories.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Thursday, September 10, 2009
Dan Polimino talks about this weeks Market Update for Denver, Colorado
Fuller Sothebys Agent Dan Polimino tells buyers and sellers why the next two months are critical in real estate in Colorado. www.Coloradodreamhouse.com
Tuesday, September 8, 2009
They?re Building Again! By Dan Polimino.
On August 16th, I wrote a column entitled, “A Shortage of Homes”. In it, I wrote about a lack of quality homes for sale at $250,000 and below. I attributed this to the inventory statistics from Metrolist, plus the knowledge of knowing many homes builders that either have gone out of business or who have stopped building. Many builders had to put a halt to spec homes until they have sold their existing inventory or they went to a pre-sale only model. If you would like to re-read this column, you can at Codreamhouse.com and click on “news.”
Right after the column appeared, I quickly heard from several home builders. They wanted to let me know that they were still in business, that they were building, and they had inventory available right now for consumers to buy. I always appreciate hearing from my readers and I personally respond to each and every email that I receive. I told the builders that if you want to get the message out to the public that you have homes available and buyers don’t have wait six months to a year for a new build, then let me know and I’ll publish it.
The builders responded and I am keeping my promise. Here’s who I heard from, along with the and where:
1. Standard Pacific homes said that they have started the construction of 15 new homes just in the last few weeks. They have homes available in Aurora, Commerce City, Denver, Erie, Elizabeth, and Broomfield. The website is: http://ping.fm/4LrfG
2. Newtown Builders has three homes available on Bradburn Blvd. in Westminster. The website is : http://ping.fm/54M38
3. Boulder Creek has several homes ready at the Vista ridge Subdivision, Erie, CO. The website is www.livebouldercreek.com .
4. Taylor Morrison has five homes available right now, with another nine more ready by the end of October. They are in Thornton, Parker, and Erie. The website is www.taylormorrison.com .
5. Century Communities has nine Denver locations and in recent ads have been listing how many homes they have available in each community. The website is www.centurycommunities.com.
Lennar, Oakwood, and Pulte also contacted me along with many others and I wish I had enough room to list them all. I thank everyone for their information and we are delighted that home builders are building again. This is a terrific sign for the Denver economy.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Right after the column appeared, I quickly heard from several home builders. They wanted to let me know that they were still in business, that they were building, and they had inventory available right now for consumers to buy. I always appreciate hearing from my readers and I personally respond to each and every email that I receive. I told the builders that if you want to get the message out to the public that you have homes available and buyers don’t have wait six months to a year for a new build, then let me know and I’ll publish it.
The builders responded and I am keeping my promise. Here’s who I heard from, along with the and where:
1. Standard Pacific homes said that they have started the construction of 15 new homes just in the last few weeks. They have homes available in Aurora, Commerce City, Denver, Erie, Elizabeth, and Broomfield. The website is: http://ping.fm/4LrfG
2. Newtown Builders has three homes available on Bradburn Blvd. in Westminster. The website is : http://ping.fm/54M38
3. Boulder Creek has several homes ready at the Vista ridge Subdivision, Erie, CO. The website is www.livebouldercreek.com .
4. Taylor Morrison has five homes available right now, with another nine more ready by the end of October. They are in Thornton, Parker, and Erie. The website is www.taylormorrison.com .
5. Century Communities has nine Denver locations and in recent ads have been listing how many homes they have available in each community. The website is www.centurycommunities.com.
Lennar, Oakwood, and Pulte also contacted me along with many others and I wish I had enough room to list them all. I thank everyone for their information and we are delighted that home builders are building again. This is a terrific sign for the Denver economy.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Monday, August 31, 2009
It Can Be Seasonal. By Dan Polimino.
Buying and selling a home certainly has it seasons. The fact that there are up times and down times in real estate is probably not news to anyone, but what is news is how the calendar and weather affects sales.
Let’s tackle the calendar first. In general, here’s a quick snapshot regarding what happens over 12 months in the buying and selling cycle. Showings usually don’t pick up until the third or fourth week of January. The first two weeks of the month are reserved for people getting over the Holiday hang over. February is a pretty stable month as far as business goes, but historically, not a month that is loaded with transactions. In March, people are getting excited about spring and are thinking about putting their house on the market so business picks up. Buyers are thinking that April is a good month to start looking and they’ll move before the summer gets into full gear. April through July at least in Colorado is the prime selling and buying months. This is when real estate is in full gear, inventory goes up, and transactions go up which translate into people buying homes.
We start to see a slowdown in August as some people are taking one last vacation before the school year starts or they are planning for the school year. Business is slow from the third week of August until the middle of September. Once school is in full swing and parents are in Fall mode, business picks up again from mid-September until the first week of November. Once November hits, people hunker down for the Holidays and real estate comes to a screeching halt. We ring in the New Year with buyers, sellers, and the agents all once again filled with optimism that it is going to be a good year and we start the cycle all over again.
Does it always go exactly like this? Of course not, I have sold more homes in December than in February over my real estate career, but in general, the sales cycle stays pretty close to what is described above.
How does the weather affect sales? We’ll tackle that next week.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Let’s tackle the calendar first. In general, here’s a quick snapshot regarding what happens over 12 months in the buying and selling cycle. Showings usually don’t pick up until the third or fourth week of January. The first two weeks of the month are reserved for people getting over the Holiday hang over. February is a pretty stable month as far as business goes, but historically, not a month that is loaded with transactions. In March, people are getting excited about spring and are thinking about putting their house on the market so business picks up. Buyers are thinking that April is a good month to start looking and they’ll move before the summer gets into full gear. April through July at least in Colorado is the prime selling and buying months. This is when real estate is in full gear, inventory goes up, and transactions go up which translate into people buying homes.
We start to see a slowdown in August as some people are taking one last vacation before the school year starts or they are planning for the school year. Business is slow from the third week of August until the middle of September. Once school is in full swing and parents are in Fall mode, business picks up again from mid-September until the first week of November. Once November hits, people hunker down for the Holidays and real estate comes to a screeching halt. We ring in the New Year with buyers, sellers, and the agents all once again filled with optimism that it is going to be a good year and we start the cycle all over again.
Does it always go exactly like this? Of course not, I have sold more homes in December than in February over my real estate career, but in general, the sales cycle stays pretty close to what is described above.
How does the weather affect sales? We’ll tackle that next week.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Friday, August 28, 2009
Realtor Dan Polimino talks about the Denver Market Update for the Week of August 24, 2009
Fuller Sotheby's realtor Dan Polimino has a message for sellers on how they can get multiple offers on their home right away.
Check out the video at http://ping.fm/wJl9A
Check out the video at http://ping.fm/wJl9A
Thursday, August 27, 2009
Dan Polimino Makes Real Estate News Over and Over Again
It was great summer for realtor Dan Polimino in Denver, Colorado. See how the local Denver TV news stations covered everything that Dan was doing to sell homes.
Check it out at http://ping.fm/7YgdU
Check it out at http://ping.fm/7YgdU
Monday, August 24, 2009
The State of Lending. By Dan Polimino.
What is the state of lending these days? Does anyone really know? I speak with lenders all the time and I seem to get a different answer or different points of view with each one of them. It’s not that I think they don’t know the answer, but I honestly believe that they are just as confused as I am. The rules and regulations are changing daily and as a result, I don’t think anyone knows what direction we are going in, let alone for the better.
I hear stories about processes and systems that are being overhauled in every lending house. I hear stories on how those new systems aren’t working or at the very least, delaying the lending process by weeks and months. I hear about complicated checks, re-checks, and lack of anyone being able to make a decision. I hear about the changes in the appraisal system that has everyone from lenders to realtors afraid of picking up a phone and daring to speak with an appraiser. The pendulum has clearly swung in the other direction. The word “overcautious” is probably not strong enough an adjective to describe everyone’s posture at present time.
Now don’t get me wrong. I know changing in lending needed to be made and if we can get through this difficult period, things “may” and I emphasize “may” be for the better, but for right now, it’s a disaster. When I talk with people about how and when things will get better, all they can tell me is their fall back answer which is, “Hey, at least we are getting some deals done!”
Yes, that’s correct. We are getting some deals done, but if we are going to have a significant recovery, we need to get a lot more deals done and in a timely fashion. A standard 30-day close is almost ready to be put on the shelf as an extinct process in lending and very little loosening in the credit markets has happened overall. In the meantime, plan accordingly for more bumps in the road, more paperwork, more changing rules, and more delays if you need a loan.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
I hear stories about processes and systems that are being overhauled in every lending house. I hear stories on how those new systems aren’t working or at the very least, delaying the lending process by weeks and months. I hear about complicated checks, re-checks, and lack of anyone being able to make a decision. I hear about the changes in the appraisal system that has everyone from lenders to realtors afraid of picking up a phone and daring to speak with an appraiser. The pendulum has clearly swung in the other direction. The word “overcautious” is probably not strong enough an adjective to describe everyone’s posture at present time.
Now don’t get me wrong. I know changing in lending needed to be made and if we can get through this difficult period, things “may” and I emphasize “may” be for the better, but for right now, it’s a disaster. When I talk with people about how and when things will get better, all they can tell me is their fall back answer which is, “Hey, at least we are getting some deals done!”
Yes, that’s correct. We are getting some deals done, but if we are going to have a significant recovery, we need to get a lot more deals done and in a timely fashion. A standard 30-day close is almost ready to be put on the shelf as an extinct process in lending and very little loosening in the credit markets has happened overall. In the meantime, plan accordingly for more bumps in the road, more paperwork, more changing rules, and more delays if you need a loan.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Wednesday, August 19, 2009
Dan Polimino on 9 News with a new twist to sell luxury homes
Dan Polimino from Fuller Sotheby's International Realty is letting prospective buyers stay in his listing for the weekend to test drive the house and see if they want to buy it. Polimino is interviewed on KUSA 9 news in Denver, Colorado.
View the video at http://ping.fm/ePKZr
View the video at http://ping.fm/ePKZr
Tuesday, August 18, 2009
Monday, August 17, 2009
Shortage of Homes. By Dan Polimino.
I was recently speaking to a couple of frustrated lenders and it was not about being able to qualify someone for a loan. They had their clients qualified and ready to go, but the buyers could not find a home to write a contract on. You see, these buyers weren’t being extra picky. There just seems to be a shortage of homes on the market in the lower price range. If you are a buyer looking for a home in the 250K and below range, chances are, you could be having a hard time finding something that will meet your needs. Of course, there are always homes for sale in the lower price range that need a lot of work, but that doesn’t work for the majority of people who are looking. Let’s say that you are a first time home buyer with not a lot of resources to gut a house and remodel it. What does that leave you to shop for? Answer…not much.
The purpose of this column is simply to say that if you are thinking about selling your home and it falls in the 250K and below price range, this could be your lucky day. Moreover, if your home is in move-in condition then you could have multiple offers within a short amount of time. You see, since builders have stopped building and sellers have decided not to sell their homes at this time, active inventory is very low. According to Metrolist, single family and condo inventory is down by 20% from just one year ago.
This is all very welcome news because it seems that it’s been longer than normal around here since we have seen a seller’s market. Caution… this not the case for the majority of price points out there, but if you are 250K and below seller, take advantage of this now. First time home buyers have until Dec 1st to be closed on a home.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
The purpose of this column is simply to say that if you are thinking about selling your home and it falls in the 250K and below price range, this could be your lucky day. Moreover, if your home is in move-in condition then you could have multiple offers within a short amount of time. You see, since builders have stopped building and sellers have decided not to sell their homes at this time, active inventory is very low. According to Metrolist, single family and condo inventory is down by 20% from just one year ago.
This is all very welcome news because it seems that it’s been longer than normal around here since we have seen a seller’s market. Caution… this not the case for the majority of price points out there, but if you are 250K and below seller, take advantage of this now. First time home buyers have until Dec 1st to be closed on a home.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Sunday, August 16, 2009
Dan Polimino on real estate in Denver for the week of Aug 16, 2009
Dan Polimino from Fuller Sotheby's International Realty talks about real estate market conditions in Denver for the week August 16, 2009. To speak with Dan or to find out more information please call 303-522-1161.
View the video at http://www.youtube.com/watch?v=OF2VnGzXBa4
View the video at http://www.youtube.com/watch?v=OF2VnGzXBa4
Tuesday, August 11, 2009
Hey! Check out my new blog entry on how First Time Home Buyers Can Win A $250,000 Home at http://ping.fm/qjfYc
Monday, August 10, 2009
First Time Home Buyers Can Win A $250,000 Home. By Staff Writer
No question that the best opportunity to buy a home these days is for the first time home buyers. Oakwood homes specializes in building homes that meet the needs of first time home buyers and Director of Marketing Kristen White wanted to get their attention.
At the same time, Fuller Sotheby’s Realtors Gary Lohrman and Dan Polimino, along with Platt Park Mortgage Lender Andy Jorgensen approached Oakwood’s Kristen White with an idea to give away a home to first time home buyers. White listened to their ideas and after one short meeting, immediately partnered with the three.
On July 1st, they launched www.firsttimehomebuyerdenverco.com with two simple premises: First, educate and help people who are interested in the buying their first home, help them qualify, and help them take advantage of the $8,000 tax credit. The second premise was to offer people a chance to win their first home if they can’t afford to buy one right now. Moreover, it’s a $250,000 home from Oakwood Homes.
Just 30 days into a three-month promotion, more than 2,000 people have visited the site and tried their lucks at winning a home. White says, “Given the economic times, not everyone can afford to buy a home. So why not try to win one?” White also says “that the response has been amazing and more than exceeded her expectations.” Mortgage lender Andy Jorgensen says that the best part of the website and the promotion is that he has spoken to a lot of potential first time home buyers who never thought that they would qualify to buy a home. Jorgensen says, “People are amazed after I speak with them that they can qualify, that there is help with their credit, and help with their down payment. I tell them that they just need to ask instead of listening to bad news, assuming that they’ll never be able to buy a home.”
Realtor Gary Lohrman says that he’s excited about helping people buy their first homes and notes that this is the time to take advantage of these opportunities. “When you combine low interest rates, low home prices, and a tax credit from the government, it’s like the perfect storm and it makes it the right time to get a great deal on your first home.” Lohrman also points out that first time home buyers need to be closed by Dec 1st to get the 8,000 dollars which just leave 4 short months left.
If you would like to find out more information about the first time home buyer program or take a chance at winning a $250,000 home from Oakwood, visit www.firsttimehomebuyerdenverco.com
At the same time, Fuller Sotheby’s Realtors Gary Lohrman and Dan Polimino, along with Platt Park Mortgage Lender Andy Jorgensen approached Oakwood’s Kristen White with an idea to give away a home to first time home buyers. White listened to their ideas and after one short meeting, immediately partnered with the three.
On July 1st, they launched www.firsttimehomebuyerdenverco.com with two simple premises: First, educate and help people who are interested in the buying their first home, help them qualify, and help them take advantage of the $8,000 tax credit. The second premise was to offer people a chance to win their first home if they can’t afford to buy one right now. Moreover, it’s a $250,000 home from Oakwood Homes.
Just 30 days into a three-month promotion, more than 2,000 people have visited the site and tried their lucks at winning a home. White says, “Given the economic times, not everyone can afford to buy a home. So why not try to win one?” White also says “that the response has been amazing and more than exceeded her expectations.” Mortgage lender Andy Jorgensen says that the best part of the website and the promotion is that he has spoken to a lot of potential first time home buyers who never thought that they would qualify to buy a home. Jorgensen says, “People are amazed after I speak with them that they can qualify, that there is help with their credit, and help with their down payment. I tell them that they just need to ask instead of listening to bad news, assuming that they’ll never be able to buy a home.”
Realtor Gary Lohrman says that he’s excited about helping people buy their first homes and notes that this is the time to take advantage of these opportunities. “When you combine low interest rates, low home prices, and a tax credit from the government, it’s like the perfect storm and it makes it the right time to get a great deal on your first home.” Lohrman also points out that first time home buyers need to be closed by Dec 1st to get the 8,000 dollars which just leave 4 short months left.
If you would like to find out more information about the first time home buyer program or take a chance at winning a $250,000 home from Oakwood, visit www.firsttimehomebuyerdenverco.com
Thursday, August 6, 2009
Special Opportunity for all home buyers!!!
I am happy to announce a special opportunity for all buyers! On July 1st, we launched a new web site called www.Firsttimehomebuyerdenverco.com. The purpose of this website is to educate and help first time home buyers purchase their first home. Buying your first home can be an overwhelming experience and we wanted to take away the hesitation or the fear that someone might have in taking this big step. The government is offering an $8,000 dollar tax credit for first time home buyers and while people would like to take advantage of that, they have questions and are not sure if they qualify. www.Firstimehomebuyerdenverco.com answers all the questions about tax credit, who qualifies, and even how you can use your tax credit for your down payment. My partners Gary Lohrman and Andy Jorgensen are experts in this field. Andy can even help you clean up your credit in 30 days or less. I know, I know, but HOW DO YOU WIN THE MONEY?
It doesn’t matter if you are a first time home buyer or a 10th time home buyer. Any Colorado resident, 18 years or older can visit www.firsttimehomebuyerdenverco.com and enter to win $250,000 from our partners at Oakwood Homes. There is nothing you need to do except fill out your contact information and then try to guess seven numbers. If you guess the right seven numbers you could win $250,000 from www.firsttimehomebuyerdenverco.com and Oakwood Homes. Good luck, and spread the word to all your friends to check out the website. After all, who couldn’t use $250,000?
It doesn’t matter if you are a first time home buyer or a 10th time home buyer. Any Colorado resident, 18 years or older can visit www.firsttimehomebuyerdenverco.com and enter to win $250,000 from our partners at Oakwood Homes. There is nothing you need to do except fill out your contact information and then try to guess seven numbers. If you guess the right seven numbers you could win $250,000 from www.firsttimehomebuyerdenverco.com and Oakwood Homes. Good luck, and spread the word to all your friends to check out the website. After all, who couldn’t use $250,000?
Wednesday, August 5, 2009
5 Beds, 7 Baths, 9 Car Garage and Mountain Views
Enjoy stunning mountain & valley views from any of the five decks and nearly every room in this incredible five-bedroom, seven-bath privately gated home nestled on over six acres of picturesque treed, mountain property. Practicality and high style blend perfectly to create a truly beautiful highland home. Extensive use of stone exteriors help this magnificent home to blend into its natural surroundings. You will enjoy the unique feel of the interior from the sweeping lines of the dramatically lighted staircase to the rare Italian marble, every turn brings a fresh delight of curves, angles, and texture.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Monday, August 3, 2009
I've Looked At 100 Homes. By Dan Polimino
I heard these words come out of a buyer’s mouth the other day, “I have looked at over 100 homes and still have not found my perfect home.” I cringed when I heard that sentence and thought to myself, “If she has looked at 100 homes and still has not found her perfect home, chances are, she’s not going to find it.” Then I thanked my lucky stars that I was not her real estate agent.
Listen, no one needs or should be looking at 100 homes to find the perfect home and here are the whys:
1) The perfect home doesn’t exist. There is no such thing and even people who built their own homes from start to finish will admit that after they are done, they would have and should have made more changes.
2) If you have looked at 100 homes and still have not found a home that suits you, then anyone of the following three things could going on here:
a. The home you are looking for is not on the market or does not exist.
b. Your criteria are too stringent. That’s a nice way of saying that you’re being too picky.
c. The real estate agent has not done a good job at listening to your wants and needs and has not shown you the properties that meet those criteria.
In reality, if you have a good real estate agent that has done his or her job, you are being realistic about what you can buy for the money, and you use the 85 percent rule, then you should be able to find a terrific home that meets your wants and needs in 12 to 20 showings. By the way, the 85 percent rules says that if you find a home that meets 85 percent of everything you want, then buy it because you have done well in your house hunting.
Finally, looking at 100 homes will just make you numb to the whole process, you’ll become paralyzed by over analysis and in the end, you’ll find it very difficult to pull the trigger and buy anything at all. Remember, buying a home is supposed to be fun. It’s not an exercise in analytics or running a marathon.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Listen, no one needs or should be looking at 100 homes to find the perfect home and here are the whys:
1) The perfect home doesn’t exist. There is no such thing and even people who built their own homes from start to finish will admit that after they are done, they would have and should have made more changes.
2) If you have looked at 100 homes and still have not found a home that suits you, then anyone of the following three things could going on here:
a. The home you are looking for is not on the market or does not exist.
b. Your criteria are too stringent. That’s a nice way of saying that you’re being too picky.
c. The real estate agent has not done a good job at listening to your wants and needs and has not shown you the properties that meet those criteria.
In reality, if you have a good real estate agent that has done his or her job, you are being realistic about what you can buy for the money, and you use the 85 percent rule, then you should be able to find a terrific home that meets your wants and needs in 12 to 20 showings. By the way, the 85 percent rules says that if you find a home that meets 85 percent of everything you want, then buy it because you have done well in your house hunting.
Finally, looking at 100 homes will just make you numb to the whole process, you’ll become paralyzed by over analysis and in the end, you’ll find it very difficult to pull the trigger and buy anything at all. Remember, buying a home is supposed to be fun. It’s not an exercise in analytics or running a marathon.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Thursday, July 30, 2009
Price Slashed by 45k in the Last 60 Days!
You get a lot of house for the money. The price has been slashed by $45,000 in the Last 60 days. There is not a bigger house currently for sale at this price per square foot.
The 4 bedroom, 3 bath boasts over 4100 finished square feet and over 5800 total square feet. The huge gourmet kitchen with cherry cabinets and granite island opens to a spacious family room with a fireplace. The sliding glass doors lead out to your professionally landscaped yard with your own coy pond waterfall and stream. A separate dining room is perfect for entertaining a large group as is the enormous living room. The main floor has a combination of hardwood floors and tile with a spacious floor plan. The study is a perfect comfortable home office. The master suite is the jewel of the upper level providing more than enough space for a sitting area and of course the beautifully adorned private master bath. The three second floor secondary bedrooms are large providing plenty of room for kids to enjoy. All the bathrooms have been finished with granite countertops. The home is immaculate and in move in condition.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Take the virtual tour at http://ping.fm/365Pg
The 4 bedroom, 3 bath boasts over 4100 finished square feet and over 5800 total square feet. The huge gourmet kitchen with cherry cabinets and granite island opens to a spacious family room with a fireplace. The sliding glass doors lead out to your professionally landscaped yard with your own coy pond waterfall and stream. A separate dining room is perfect for entertaining a large group as is the enormous living room. The main floor has a combination of hardwood floors and tile with a spacious floor plan. The study is a perfect comfortable home office. The master suite is the jewel of the upper level providing more than enough space for a sitting area and of course the beautifully adorned private master bath. The three second floor secondary bedrooms are large providing plenty of room for kids to enjoy. All the bathrooms have been finished with granite countertops. The home is immaculate and in move in condition.
Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.
Take the virtual tour at http://ping.fm/365Pg
Wednesday, July 29, 2009
The Luxury and Charm Of Glenmoor Country Club
This beautiful home features an abundance of architectural detail. Art niches, built-ins, and dramatic arches evoke European craftsmanship throughout this 6 bedroom, 6 ½ bathroom masterwork. The freshly completed low maintenance deck features lush views of Glenmoor golf course. Classic brick and stucco finish, new Milgard windows and doors throughout, and a 4-car garage make this showcase a joy to live in.
Call Dan Polimino 303-522-1161 or Gary Lorhman at 303-829-5900 for a showing.
Call Dan Polimino 303-522-1161 or Gary Lorhman at 303-829-5900 for a showing.
Tuesday, July 28, 2009
12,000 sq ft custom ranch surrounded by 400 acres
With a level of attention to detail rarely seen, this amazing 12,000 square-foot, five bedroom, seven bathroom home is the perfect blend of old-world charm and every modern convenience. Call Dan Polimino 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing.
Monday, July 27, 2009
Print is Not Dead. By Dan Polimino
Ok, full disclosure: Yes, as you can see, I write for the Denver Post, but the Denver Post does not tell me what I can or cannot write. Nor did they ask me to write this piece. I am writing it because it’s true and it’s valuable information to the real estate community. Now with that out of way, let’s get to the rest of the story.
As many of you know from reading this column, one of my specialties is marketing. I enjoy it, study it, follow the trends, and track closely what works and what doesn’t. Over the last six months, I have embarked on two very ambitious marketing campaigns utilizing text messages, direct mail, newspaper ads, email blasts, signs, banners, internet advertising, blogging, and public relations. Out of the 10 marketing channels listed above, which one had the greatest return on investment? Did you answer newspaper advertising? If you didn’t, you should have. Our newspaper ads ranked as number one or in the top three for ROI out of all the marketing avenues we tried. I must admit, I was a skeptic. I was beginning to believe that people did not pay attention to newspaper ads any more particularly since real estate lends itself so well to the internet age. Now after tracking these two marketing campaigns, I cannot ignore the data and that tells me that the majority of our traffic and leads came from our newspaper ads.
One caveat before you jump on the bandwagon, and that is, not all newspaper ads are created equal. There really is a science and skill to developing newspaper ads that get results. Some definitely work better than others and I think that we’ve nailed down a good formula. Newspaper executives will tell you that it’s all about frequency and that’s partly true, but other factors like what day your ads runs, what page it’s on, what side of the page: right, left, up or down, color versus BW, and when you are running the ad in relation to the event are all vital factors in the success of the campaign. Finally, make sure you have a way to track your ads. You must be able to find out if your advertising is working.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
As many of you know from reading this column, one of my specialties is marketing. I enjoy it, study it, follow the trends, and track closely what works and what doesn’t. Over the last six months, I have embarked on two very ambitious marketing campaigns utilizing text messages, direct mail, newspaper ads, email blasts, signs, banners, internet advertising, blogging, and public relations. Out of the 10 marketing channels listed above, which one had the greatest return on investment? Did you answer newspaper advertising? If you didn’t, you should have. Our newspaper ads ranked as number one or in the top three for ROI out of all the marketing avenues we tried. I must admit, I was a skeptic. I was beginning to believe that people did not pay attention to newspaper ads any more particularly since real estate lends itself so well to the internet age. Now after tracking these two marketing campaigns, I cannot ignore the data and that tells me that the majority of our traffic and leads came from our newspaper ads.
One caveat before you jump on the bandwagon, and that is, not all newspaper ads are created equal. There really is a science and skill to developing newspaper ads that get results. Some definitely work better than others and I think that we’ve nailed down a good formula. Newspaper executives will tell you that it’s all about frequency and that’s partly true, but other factors like what day your ads runs, what page it’s on, what side of the page: right, left, up or down, color versus BW, and when you are running the ad in relation to the event are all vital factors in the success of the campaign. Finally, make sure you have a way to track your ads. You must be able to find out if your advertising is working.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Thursday, July 23, 2009
Just Reduced By Over 300K In The Last 90 Days
This exceptional residence located in Heritage Estates offers the epitome of a luxurious lifestyle.
A sample of the outstanding features and appointments of this home include crown molding, hardwood floors, floor to ceiling windows, travertine tile and custom woodwork throughout.
The exterior boasts a swimming pool, spa, and an integrated water feature. The spectacular views of the golf course and majestic mountains are inspiring from every angle.
Heritage Estates is a Golf Course Community positioned around the fairways of the Arnold Palmer designed Championship Lone Tree Golf Course, a splendid trail system, and a collection of award winning masterpiece custom homes.
Located minutes from high-end shopping districts, the Denver Tech Center, and Mountain Resorts, this is the perfect community even for the discriminating buyers.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Take the Virtual Tour at http://ping.fm/i9tPY?guipropertysummaryid=af6639a2-a97e-463d-9fde-7fd975469904&locale=en-US
A sample of the outstanding features and appointments of this home include crown molding, hardwood floors, floor to ceiling windows, travertine tile and custom woodwork throughout.
The exterior boasts a swimming pool, spa, and an integrated water feature. The spectacular views of the golf course and majestic mountains are inspiring from every angle.
Heritage Estates is a Golf Course Community positioned around the fairways of the Arnold Palmer designed Championship Lone Tree Golf Course, a splendid trail system, and a collection of award winning masterpiece custom homes.
Located minutes from high-end shopping districts, the Denver Tech Center, and Mountain Resorts, this is the perfect community even for the discriminating buyers.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Take the Virtual Tour at http://ping.fm/i9tPY?guipropertysummaryid=af6639a2-a97e-463d-9fde-7fd975469904&locale=en-US
Just Reduced By 20K
You’ll love this COMPLETELY remodeled ranch with a finished walkout basement in desirable Lone Tree.
The 3 bedroom, 3 bath boasts over 2200 finished square feet with a main floor master, hardwood floors, vaulted ceilings, a large eat in kitchen new cabinetry, slab granite, center cooking island and all brand new GE profile appliances. The location is just minutes from Park Meadows Mall.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Take the virtual tour of the property at http://ping.fm/AZCLO
The 3 bedroom, 3 bath boasts over 2200 finished square feet with a main floor master, hardwood floors, vaulted ceilings, a large eat in kitchen new cabinetry, slab granite, center cooking island and all brand new GE profile appliances. The location is just minutes from Park Meadows Mall.
Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Take the virtual tour of the property at http://ping.fm/AZCLO
Wednesday, July 22, 2009
35 Acre Colorado Ranch with your own 25 acre private water skiing lake
This place has it all. Stunning detail is the theme throughout this amazing 6,500 square foot, four-bedroom, seven-bathroom home, rich cherry wood graces the doors, stairways, main-floor walls, cabinetry, and even the master suite’s his and hers closets. Hand-built custom touches abound, including extensive artisan-crafted finishes, even down to the switch plates. The same devotion to precision applies to the 35 acres surrounding the house. A 17,000-gallon koi pond, beautiful gardens, and a 25-acre ski lake are all jewels in the crown of this home. Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing.
Tuesday, July 21, 2009
What's Your Syndication Model? By Dan Polimino
No question, the internet has changed the face of real estate and everyone seems to be scrambling, trying to figure out how you win the real estate game online. There are social networking blogs, IDX data searches, mobile plug-ins for your phone, national real estate web portals and yes, syndication.
What is syndication? It’s taking a piece of information and placing it on various sources across the internet. In the past, people would make their real estate listing, blogs, and articles available for syndication, but it was based on the premise that someone had to come to find your material and then subscribe. Today, the paradigm shift is moving toward a less passive approach and to a more active approach. This means that companies are popping up that actually push and place your content for you on various websites, channels, and blogs. This move is much more aggressive than what we have done in the past and while it will reach more people, it also has its inherent problems.
For example, there are many companies that will offer to syndicate a real estate agent or company’s listings. This could be a good thing because it broadcasts properties for sale all over the internet and makes it easier for people to find yours. The problem is that there is a major disconnect between brokerage firms, syndication companies, and the web sites that display these listings. Rarely are the listings being displayed correctly, accurately, or in the places promised by the syndication companies. Sellers get upset that their homes are being displayed incorrectly, agents get blamed for putting out inaccurate information, and the syndicators blame everyone from the local MLS to the web sites receiving the listings.
So what’s the answer to syndicating real estate listings? Be careful, this process is far from perfect and still has a long way to go to work out all of the bugs. If your home is for sale and your agent is placing the listing across multiple platforms, you may want to check out a few of the more popular sites to make sure your home is being displayed correctly or displayed at all.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
What is syndication? It’s taking a piece of information and placing it on various sources across the internet. In the past, people would make their real estate listing, blogs, and articles available for syndication, but it was based on the premise that someone had to come to find your material and then subscribe. Today, the paradigm shift is moving toward a less passive approach and to a more active approach. This means that companies are popping up that actually push and place your content for you on various websites, channels, and blogs. This move is much more aggressive than what we have done in the past and while it will reach more people, it also has its inherent problems.
For example, there are many companies that will offer to syndicate a real estate agent or company’s listings. This could be a good thing because it broadcasts properties for sale all over the internet and makes it easier for people to find yours. The problem is that there is a major disconnect between brokerage firms, syndication companies, and the web sites that display these listings. Rarely are the listings being displayed correctly, accurately, or in the places promised by the syndication companies. Sellers get upset that their homes are being displayed incorrectly, agents get blamed for putting out inaccurate information, and the syndicators blame everyone from the local MLS to the web sites receiving the listings.
So what’s the answer to syndicating real estate listings? Be careful, this process is far from perfect and still has a long way to go to work out all of the bugs. If your home is for sale and your agent is placing the listing across multiple platforms, you may want to check out a few of the more popular sites to make sure your home is being displayed correctly or displayed at all.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Sunday, July 19, 2009
Monday, July 13, 2009
Sunday, July 12, 2009
The Chasm, By Dan Polimino
It’s safe to say that there has never been a bigger chasm between seller and buyer than what we are experiencing right now. Sellers are getting offers anywhere from 10K off their asking price to several hundred thousand dollars off their asking price. So where is the disconnection and who is right in this real estate market? Let’s consider a few points.
First, most buyers would say that the sellers are just not being realistic in their asking price. I would say that this is a fair statement for some, but no all. Over the last year, sellers have seen the news, got the point, and started pricing their homes more within the going market value. Are there still several people hoping to sell overpriced homes? You bet. If your home is overpriced, you have two simple decisions here: A) Lower the price to make your home a value or B) Continue to show it for the next year or two, make the mortgage payments, and hope it sells.
Ok, now let’s look at the buyers. In a previous column last month, I said that the first sentence out of every buyer’s mouth these days is, “I want a deal.” Are buyers looking to steal a home? Yes. Will they? Sometimes they will. Is it right? No, but it won’t be a buyers’ market for ever. For instance, in the 250K and below market, some buyers are being forced to participate in a bidding war. This is a sign that the market is slowly changing. For the rest of the price points, buyers are still in the driver’s seat and let’s remember that a buyer gets to set the price of homes, not the sellers. So for now, let’s expect that buyers are going to be making low ball offers.
So what do we glean from this? First and foremost, if you do not have to sell your home or you are not very motivated then do not put it on the market. If you do need to sell, be ahead of the curve and price that home to move quickly. If you are a buyer, take advantage of this now. The chasm between buyers and sellers is closing fast.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
First, most buyers would say that the sellers are just not being realistic in their asking price. I would say that this is a fair statement for some, but no all. Over the last year, sellers have seen the news, got the point, and started pricing their homes more within the going market value. Are there still several people hoping to sell overpriced homes? You bet. If your home is overpriced, you have two simple decisions here: A) Lower the price to make your home a value or B) Continue to show it for the next year or two, make the mortgage payments, and hope it sells.
Ok, now let’s look at the buyers. In a previous column last month, I said that the first sentence out of every buyer’s mouth these days is, “I want a deal.” Are buyers looking to steal a home? Yes. Will they? Sometimes they will. Is it right? No, but it won’t be a buyers’ market for ever. For instance, in the 250K and below market, some buyers are being forced to participate in a bidding war. This is a sign that the market is slowly changing. For the rest of the price points, buyers are still in the driver’s seat and let’s remember that a buyer gets to set the price of homes, not the sellers. So for now, let’s expect that buyers are going to be making low ball offers.
So what do we glean from this? First and foremost, if you do not have to sell your home or you are not very motivated then do not put it on the market. If you do need to sell, be ahead of the curve and price that home to move quickly. If you are a buyer, take advantage of this now. The chasm between buyers and sellers is closing fast.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Sunday, June 28, 2009
The Bearer of Bad News, By Dan Polimino
Lately, we (realtors) have the unenviable task of being the bearers of bad news. It seems more than ever we are having conversations with people about what the market is telling us regarding the price of their home, or we are talking to sellers about lowering the price of their property. As expected and given the recession, rarely is it good or welcomed news. I know that a lot of home owners believe that there is a course in real estate school wherein the first thing an agent is taught is to recite the following sentence, “We need to lower the price.” Trust us, that is the last conversation we want to have with any client. It’s not fun for us and it’s not fun for you, but to use a cliché, “It is what it is!”
It’s important to keep in mind that one of our main jobs is to decipher and interpret the market data. These days, the data is fairly well encrypted and a good agent will be able to pinpoint where the buyers are, how many, what they are buying, why and how you can stay ahead of the curve. We find too many people who are trying to chase the market down. This is bad strategy and you know what I mean. “I’ll start a little higher than what the agent suggested because I can always come down.” That’s chasing the market down and a buyer can see that strategy from a mile away. Buyers today are so smart and savvy, it’s unlikely that you are going to outwit or out strategize them. They have done their home work, have seen dozens of properties, and know exactly what they can buy for their money. It means that they know the market better than you do.
The number one phrase of out every buyer’s mouth these days is “I want a deal.” Forget the days of “Does the home fit their needs or do they like it?” because that’s out the window. It’s all about the deal, so sellers get ahead of the curve. Be significantly better priced than all of your competition. Make it so that when a buyer walks in, the first words out their mouth is “Wow this is a value.”
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
It’s important to keep in mind that one of our main jobs is to decipher and interpret the market data. These days, the data is fairly well encrypted and a good agent will be able to pinpoint where the buyers are, how many, what they are buying, why and how you can stay ahead of the curve. We find too many people who are trying to chase the market down. This is bad strategy and you know what I mean. “I’ll start a little higher than what the agent suggested because I can always come down.” That’s chasing the market down and a buyer can see that strategy from a mile away. Buyers today are so smart and savvy, it’s unlikely that you are going to outwit or out strategize them. They have done their home work, have seen dozens of properties, and know exactly what they can buy for their money. It means that they know the market better than you do.
The number one phrase of out every buyer’s mouth these days is “I want a deal.” Forget the days of “Does the home fit their needs or do they like it?” because that’s out the window. It’s all about the deal, so sellers get ahead of the curve. Be significantly better priced than all of your competition. Make it so that when a buyer walks in, the first words out their mouth is “Wow this is a value.”
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
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