Real Estate Tips & Tricks To Keep You In The Know This Year
Although the Mile High real estate market seems to be a bit more balanced this year, if we’ve learned anything, it’s that having a real estate agent who is well-versed in networking, negotiating, staging and creative solutions makes all the difference.
So, to launch our new Well Informed roundup, we sat down with local award-winning real estate expert Kristen Abell to talk about market trends, tips for getting your home ready to sell, advice for buyers and design concepts worth the investment.
The real estate frenzy has died down a bit, but the Denver housing market is still going strong. What are your predictions for the rest of 2023?
As predicted, things were already heating up in the first week of January, as they usually do in the Mile High City. For example, one of our listings in Green Mountain hadn’t received any offers in 2022 (it was listed for 40 days); the new year rolled around, showings picked up, and we ended up with two competing offers in the first week of 2023.
If you’re looking to sell your home this year, what are some ways to increase your chances of selling for top dollar?
First, focus on high-traffic areas and address issues such as fingerprints on walls, broken grout or caulk and dirty carpets and windows. Also, if there are maintenance issues that need attention—such as the HVAC system, sprinklers or garage door—make sure to get those in working order. Next, you have to clear the clutter, so call in the experts to help you weed through old papers, books and mail and even décor that is taking up space. Buyers need to be able to visualize themselves in the home, so creating a clean, calm space is paramount. Next, look to the ceiling and replace outdated light fixtures, and consider giving your walls a fresh coat of paint. These simple things can make all the difference.
If you’re looking to buy this year, how can you increase the chances of having your offer accepted?
To make your offer more enticing in this market, you must be willing to get creative. Be sure to have your agent find out what the seller’s true motivations are—it is not always about getting top dollar, so if your offer can speak directly to their needs, you’ll increase your chances. Also, if you can give the seller the terms they desire (outside of price) on the first offer, in my experience it can make the negotiations much more favorable.
Which home improvement projects garner the most ROI spell out: return on investment?
Don’t underestimate the magic of fresh paint on your walls, ceilings and trim. Just make sure to select colors that are on-trend. Although pure white walls might be the easiest option, the current design trend is a more calming, serene palate like Behr’s Conifer Green or Half Sea Fog. Also, consider refinishing wood floors.
If you are looking to do true renovations, it’s always best to focus your money on kitchens and bathrooms. Opt for timeless features with playful colors, patterns and textures that reflect your personality and design aesthetic. Choose natural elements, such as wood and stone, mixed with layered artisan details and gold hardware.
What design trends are you seeing that inspire you?
In our recent build we used a lot of natural wood, which gives such a warm and cozy feeling when you enter the room. Wallpaper continues to be a hot trend, and I am all about it! Powder rooms, bedrooms, accent walls and even your office ceiling are all prime locations for wallpaper, and it adds so much personality to your home. Adding layers of texture through meaningful heirloom objects and art adds depth and warmth that tells a story—that’s what makes a house a home.
Anything else you want to share?
Reach out to your trusted advisor well before the spring market is in full force. So often, our clients call us in May or June thinking it is the best time to get the process started, and while summer is still usually a strong time to buy a home in Denver, March, April and May are historically the most favorable for sellers to hit the market first, which translates into less intrusive showings and typically higher offers.
Abell To Sell