Posts Tagged ‘Denver Real Estate’

Return on home improvements

So perhaps you’ve been thinking of doing some home improvements and curious about the return you’d receive when you sold your home.  Well I’ve put together a list of improvements with the job cost, resale value and the cost % recouped.  This info is taken from the Cost vs. Value Report 2009-10.  For the complete list of cost vs value go to www.costvsvalue.com.

These prices are for the Mountain region and the Denver market in particular.  They are for a midrange job (vs. an upscale job).   So if you are about to take on a minor or major home improvement project have a look at your return and consider if it’s worth the time, money and effort.

                                                 JOB COST          RESALE VALUE         COST RECOUPED

ATTIC BEDROOM:               $46, 239                       $34,902                            75.5% 

BASEMENT REMODEL       $58,743                       $45,170                            76.9%

BATHROOM ADDITION    $36,987                       $21,410                             57.9%

BATHROOM REMODEL     $15,296                        $10,765                            70.4%

DECK ADDITION (COMP)  $15,145                       $10,620                            70.1%

DECK ADDITION (WOOD) $10,608                      $8,395                               79.1%

FAMILY ROOM ADDTN     $78,525                      $53,169                            67.7%

GARAGE ADDITION            $56,141                       $35,192                           62.7%

MAJOR KITCHEN REM       $55,336                      $40,382                           73.0%

MASTER SUITE ADD            $98,595                      $65,628                           66.6%

MINOR KITCHEN REM        $20,805                     $15,944                            76.6%    

ROOFING REPLACE              $17,727                     $12,531                             70.7%

TWO-STORY ADDITION      $150,260                  $105,494                          70.2%

WINDOW REPLACE(VINL) $10,239                     $8,006                               78.2%

WINDOW REPLACE WOOD  $11,156                     $8,888                                79.7% 

Hopefully this gives some insight into the bang for the buck in home improvement projects.  If you need any assistance on any other home value  matters and how it relates to your resale, please feel free to call or email me anytime.  Or if you are in the Denver Metro area and would like a price valuation on your home, give me a ring I’d be happy to do this free of charge.

Kirk A Hartshorn    720-244-5454   RIDE ON!

www.perryandco.com   khartshorn@perryandco.com

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Update: West Wash Park real estate statistics

Here is an update on the past 30 days sold activity on the West Wash Park real estate market along with the total currently active for sale properties and properties currently under contract.  The simple boundaries I used for this update are S. Downing St. west to S. Lincoln St. and E. Alameda Ave. south to E. Louisiana Ave/I-25.  The boundaries of West Wash Park vary from person to person, these boundaries are for simple, easy analysis of the neighborhood.

  • Total currently active for sale properties – 63
  • Solds properties within the past 30 days – 14
  • Under contract properties – 7
  • Median sale price as % of  last list price – 99.76%   (possibly not reflecting original list price)
  • Median days on market for solds – 31
  • Median days on market for all currently active listings – 81
  • Median price for solds – $411,000
  • Median price for currently active listings – $456,000
  • Average price per sq ft SOLD – $324  (note: represents total avg. p/s/f  not finished  avg. p/s/f)
  • Average price per sq ft ACTIVE – $325  (note: represents total avg. p/s/f  not finished avg. p/s/f)
  • Average price per sq ft UNDER CONTRACT – $312  (note: represents total avg. p/s/f  not finished avg. p/s/f)
  • Lowest sold price – $170,000
  • Highest sold price – $1,007,500
  • Lowest currently active list price – $165,000
  • Highest currently active list price – $875,000

I last posted the WWP statistics on January 7, 2010.  I have changed the format somewhat and now, among other changes,  include all actives and not just active in the past 30 days. 

But I’d like to make a few comparisons between that post, 6 months ago, and this most recent post, of all that can be directly correlated.

  • Sold within past 30 days – then 8, now – 14
  • Median sold price to most recent list price – then – 96.2%, now – 99.7%
  • Median price for solds – then – $380,000, now – $411,000
  • Median days on market for sold properties – then – 41 days, now – 31 days
  • Median price of active listings – then – $481,000, now – $456,000
  •  Lowest price sold – then – $125,000, now – $170,000
  • Highest price sold – then – $1,298,500, now – $1,007,500

With this data side-by-side from 6 months ago, it appears that West Wash Park is seeing a strengthening in its real estate market.  With more sold properties, at a higher percentage of ask to list price with a higher median sales price and fewer days on the market.  Also seeing as the median currently active price is lower now than 6 months ago and with all the above data taken into consideration,  it seems to correlate to properties being priced at a more competitive price up front.  Some good news for West Wash Park homeowners and hopefully helpful to anyone thinking of purchasing a property in West Wash Park. 

That’s the latest real estate market recap for West Wash Park.  This data used is taken directly from the Denver MLS System, Prime Access.

If you have any questions about the real estate market in West Wash Park (or Denver for that matter) or would be interested in seeing any property or finding out the value of your property, please feel free to call me anytime.

Kirk A. Hartshorn  720-244-5454   RIDE ON!

Perry & Co.  www.perryandco.com

khartshorn@perryandco.com

West Wash Park – “Where to live in Denver NOW”!

My wife and I have lived in West Wash Park now for 5 years and are passionate about this neighborhood and the people and services within it.  When we moved back to Denver after a short stint in Florida, I knew I wanted to live within striking distance of Wash Park.  I’ve lived on the east side and the north side of the Wash Park in the past and decided to really look into all aspects of the Wash Park neighborhoods before making a purchase.  The East side is indeed beautiful and has great access to University and the shops of S. Gaylord but much more expensive for the same exact home.  The north side has great access to University and Alameda but to me lacked the neighborhood feel I was looking for.  The south side feels a little close to I-25 but has easy access to I-25, S. Downing, S. Franklin, Evans Ave. and South High School.  Bringing me to West Wash Park and its great neighborhood feel, easy access to Alameda, S. Downing, I-25,  S. Broadway and a plethora of shops, restaurants and other services. 

5280 Magazine’s most recent issue, and featured cover story, had a great article about “Best places to live (in Denver) Now”.  This is 5280’s “Annual guide to the hottest neighborhoods in town”, and featured 8 Denver neighborhoods, of which, West Wash Park was one of them.  I copied the write-up on Washington Park West as written by 5280’s Luc Hatlestad and pasted it below.  And, as written by the author “Whether you’re buying, selling or staying put this year, these are the places to be in Denver right now”.

Where to Live in Denver

 

Washington Park West

“This slightly hipper, grittier alternative to Wash Park East (average sale price: $654,000) has all the access to its neighbor’s amenities, but at a far lower cost. This primarily residential neighborhood is surrounded by numerous retail districts, whether new (Pearl Street, north of I-25) or revitalizing (South Broadway). Lately, more young couples and families have been landing in the area to take advantage of its leafy streets, reasonably priced housing that hasn’t been as overwhelmed by scrapes and duplexes as have some of its neighbors, and, of course, the neighborhood’s biggest draw, Wash Park itself, which teems with activity even during the chilly winter months.”    Luc Hatlestad
Average sale price $395,000
+1% over 2009

  

Kirk A Hartshorn  720-244-5454  RIDE ON!

Perry & Co.  www.perryandco.com

khartshorn@perryandco.com

The draw of the West

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Hello and welcome to WWPL – West Wash Park Living.

This blog will focus on the West Wash Park area of Denver, CO and should assist anybody living in, visiting, interested in, passing through, moving to, dreaming of, unaware of, lost in, found in, cycling through, happening upon, wondering about, seeking info about, needing an update on, or any other combination of West Wash Park details needed to fully understand this outstanding Denver neighborhood.

From quaint coffeeshops to one off restaurants, WWP has everything in close proximity to create the perfect neighborhood.  And let us not forget what created our theme, “West Wash Park Living”, our beloved oasis to the east- Washington Park.  With its breathtaking gardens,mutiple lakes, expansive fields, massive trees, friendly visitors, rollerbladers, cyclists, woggers, joggers, strollers, dog walkers, picnicers, volleyball players, frisbee tossers, tennis players, basketball players, nature lovers, yoga practitioners, boot camp partakers, Wash Park will not dissapoint the choosiest of park goers.   

I have lived in the  Wash Park vicinity for a cummulative 10 years.  The last 4 years in WWP.  I will undoubtedly claim that my experience in WWP has been the most fulfilling experience in the Wash Park area.  WWP offers a true sense of neighborhood.  You cannot walk the streets of WWP without having a chance encounter with a fellow WWP’er, out for a stroll through the neighborhood and most likely with their dog leading the way.  My wife and I have made several new friends during one of our evening walks in the neighborhood, dropping by a yard sale or striking up a conversation with a passerby while having a beer or glass of wine on the front porch (better known as our fair weathered living room).

I’ll be updating often on all that makes WWP the neighborhood that we all so enjoy.  So visit often and please let’s hear from you and your experiences in WWP.

Kirk Hartshorn – 720-244-5454   Ride On!

Perry & Co.   www.perryandco.com