All Forum Posts by: Kenny Smith

🏡 Deal of the month....👀

✅ 5022 Meade St, Denver

✅ 5 bed, 3 bath

✅ 2,304 sq ft

✅ Original list price of $895k now lowered to $650k

Ranch style in the Regis neighborhood. Only 20 minute walk, and less than 5 minute drive to the bars and restaurants of Tennyson St.🍻

Appears to be mostly renovated besides some items in the basement. 🧑‍🔧

Been on market 179 days and over $200k price drop! 🤑

These houses come on the market all the time - reach out if you have any questions....

🏡 2024 by the numbers….👀

2024 was only slightly better (by 100 closings) than 2023.Either way, this year and last year were the lowest homes sold since 2012 in Denver metro. 😳

This is caused by a combination of buyers not being able to afford to buy with interest rates back up above 7%, and seller’s not wanting to budge on their sale price...a standoff.

My guess is 2025 will likely be just like 2024 and 2023 if rates stay above 6%....

🏡 DEAL of the month….👀

Want to live in a NEW BUILD 5 minutes from Red Rocks? 🤔

✅ New build in 2024

✅ Offered at $849k

✅ 2,947 total sq ft

✅ 4 bed, 4 bath

New builds like this DON’T come up often in this area as it’s already been built out many years ago.

Enjoy the luxury of a new build in one of the most desirable neighborhoods in Denver metro.

Check out the full listing here: https://m.prspcts.co/9cQuwZFBgAbuMGmb7

🏡 We saw the number of active listings at 8,875 houses still on market to end the month, vs. 10,934 at the end of October (see chart above). 📉

Yes, expired listings (listings that expired out of the MLS), were still quite high this month which can affect this number, but....

What about pending (under contract in the MLS) homes this month? 🤔

We were up 21% for pending homes vs November of 2023. In fact, this was the most home pendings we saw in November since 2021. 👀

I expect to see a strong January if this trend continues....📈

🏠 2 MUST adds to your home inspection....🧐

Finally under contract on your dream home, yes! Next step - DON’T overlook key inspection items: sewer scope and radon testing.

✅ Radon is a radioactive gas that is released from granite into the soil that is known to cause cancer, and can leach right into your home.

✅ Any home built before 1980, likely has cast iron or clay sewer lines which will deteriorate over time.

These issues can be avoided. On top of your general inspection, this will be the best few hundred dollars you will spend when buying your home....💰

PS - wishing you all a VERY happy thanksgiving. So grateful for all my past clients, future ones, and for those just reading my emails. Truly appreciate all of you....🍗🙏

🏡 TAX SEASON is right around the corner 🧑‍💻

Talk to a CPA now - DON’T WAIT! Quick tips…

✅ Everyday Homeowners - track all home improvements as you could qualify for energy efficiency home improvement credit - new exterior windows, new central A/C, new hot water heater, new insulation material.
✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.

Imperative to use a CPA who is well versed in Real Estate tax code.

My CPA is just that - DM me to get his contact information....

🏡 2 months in, what has ACTUALLY changed? 🤔

We are 2 months removed from the NAR lawsuit settlement changes.

What I am seeing....

✅ Buyers still working with buyer’s agents
✅ Most sellers still offering a buyer’s agent compensation
✅ More transparency to buyers and sellers

Sure there were some changes, but I am seeing things are BUSINESS AS USUAL.

Seller’s are still given the opportunity to negotiate all commissions (including if they choose to pay a buyer’s agent), and buyers are still given the opportunity to do the same regarding their agent’s commission. 🙂

MASSIVE new development coming to Denver! 🌇

“The Gates District” at Broadway station is a mixed use development going in near I-25 and Mississippi.

✅ 887 residential units
✅ 380,000 sq ft of office space
✅ 180,000 sq ft of retail and restaurant space

Wash Park/Platt Park has seen so much growth over the years, and this will certainly see more growth in real estate prices. 👀

🏡 Looking for another hot part of town with new development going in? Shoot me a DM, let’s chat 💬

🏡 Real Estate Industry changes here! 👀

The NAR lawsuit has been settled, and here's how it COULD affect you. On 8/15/24, 2 of the biggest changes are..

✅ No longer can a buyer agent commission (that would be paid for by the listing brokerage or seller) be marketed on the MLS listing.

✅ An agreement must be in place between the buyer and buyer’s agent before any properties can be toured.

It should be noted these rules are in line with the NAR settlement and is an MLS participation requirement, not state law. 👨‍⚖️

🏡 MASSIVE transformation coming near downtown…🏙️

With one of the last areas to develop near downtown, the neighborhood just south of Empower Field will get a massive upgrade 🏟️

The stadium district master plan is only 10% done, but will include a mixture of housing options, jobs, game day/special event experiences, and more.

When this 58 acre space is developed, it will re-shape the landscape of downtown once again….👀