GardeningHomeownership June 3, 2021

10 Tips for Sustainable Gardening

It’s the time of the year that many homeowners start spending more time in the garden. Having a healthy garden is one of the best ways to create a sustainable home and reduce your household’s carbon footprint. Here are some eco-friendly tips that will help to make your garden even more sustainable.

 

  1. Compost Your Waste

Composting, which puts your natural waste to good use, is the cornerstone of any sustainable garden. All grass clippings, dead leaves, plants, flowers, and the like are rich in nutrients. By composting, you provide your garden with a natural fertilizer, free of contaminants. Not only will this provide nourishment, but it will also help to produce healthier and tastier food.

 

  1. Mulching

If having a sustainable garden is your goal, it’s important to treat your soil with care. Mulching enriches the soil and ensures it’s as healthy as can be. Mulch conserves the moisture in your soil, ensuring it won’t dry out. It also reduces weed growth and naturally moderates the temperature of the soil. Mulching can cover either bare soil or freshly planted food and flowers.

 

  1. Garden Design

It’s natural to want to accentuate the beauty of your garden when designing it, but the sustainable gardener will prioritize giving plants what they need. Take into consideration which plants need direct access to sunlight, which need the most space in the garden, and any special requirements a plant may need to inhabit optimal growing conditions.

 

  1. Use Natural Weed Killers

One of the pillars of organic gardening is to reduce the use of chemicals whenever and wherever possible. Homemade recipes involving vinegar and corn gluten meal are effective substitutes for harmful, chemical-based weed killers. Whichever method you choose, it’s important to weed by hand often.

 

  1. Use Water Efficiently

Substantial watering is critical to keeping your garden healthy, but overwatering is a common practice and leads to an unsustainable garden. Research the amount of water your plants and flowers need to make sure you aren’t overwatering. If you live in a rainy climate, rain barrels are a useful tool as their function is to catch and conserve the water from your downspouts.

 

  1. Animal Manure

For a more sustainable garden and even healthier soil, consider adding animal manure. Chicken, sheep, and cow manure are all popular choices. Rich in nutrients, it can be used both as a fertilizer and as a soil conditioner. Make sure the manure you purchase is free of pathogens and ask about the recommended window of time from application to harvest before you begin using it.

 

  1. Go Local

Planting natively is a fast ticket to sustainable gardening. Native plants are innately acclimated to local climate conditions, making them easier to grow and maintain. Native plants often require less water to grow due to their familiarity with the soil and rainfall in your region, which cuts down on your garden’s total water intake.

 

  1. Collect Dried Seeds

Believe it or not, you can save your seeds and sow them next year. Wait until the seed is fully ripe before you collect it. It’s important to gather seeds when the weather is dry and to store them in a dry place. To produce healthy plants in the future, the seed must be completely dry.

 

  1. Control Garden Slugs

Slugs are known to wreak havoc on gardens, eating through leaves and fruit, leaving a trail of destruction. There are many ways of controlling slugs in your gardens, but some may do more harm than good. If you choose to use slug bait, go organic. Many slug baits contain chemicals that are highly toxic to other animals.

 

  1. Replace Your Gas Mower

How else can you reduce your garden’s carbon footprint? Replace your gas mower with a more sustainable alternative. Electric mowers and push mowers are functional and more eco-friendly replacements. For added sustainability, consider replacing your other gas-powered equipment, such as trimmers and leaf blowers.

 

DesignInvestment May 28, 2021

7 Tips to Give Your Short-Term Rental a Competitive Advantage

As the usage of short-term rental services has increased over the years, so too has the competition between rental owners to make their properties stand out. There are a variety of marketing tactics you, as a rental owner, can employ to give your home an edge, but ultimately, making the property as appealing as possible is the best way to ensure your strategies are effective.

 

  1. Boost Your Curb Appeal

Renters are scrolling through pages and pages of properties, looking for something that catches their eye at first glance. To make your property stand out, invest time and energy into the home’s curb appeal. Making these improvements doesn’t necessarily require breaking the bank, either. Simple projects like a fresh coat of exterior paint, refinishing the patio or deck, and creating a beautiful yard will go a long way towards helping your home stand out amongst the competition.

 

  1. High-Quality Photography

Once you’ve spent time curating and beautifying your rental, it’s important to communicate its feel to potential renters. High-quality photos give renters the best impression of what it’s like to spend time in the home. Photograph every room in bright lighting to make the space as inviting as possible. Be sure to thoroughly clean every room before taking photos to have it looking as inviting as possible.

 

  1. Improve Your Description

After potential guests explore your photos, they’ll read your property’s description. While it’s helpful to read descriptions of other listings in your area to get an idea of what tenants are looking for, it’s important to communicate the unique attributes of your home. Talk about what makes it special, emphasize the selling points, and reference what renters are seeing in the photos you’ve provided.

 

  1. Repair or Replace Your Appliances

When guests are paying for a rental, they expect everything to be in fine working order. To make your property stand out, consider repairing or replacing your appliances. This makes for a more enjoyable stay and could potentially offer you a competitive advantage. All appliances have a certain life expectancy, so if you haven’t replaced your appliances in a while, it just may be time to do so.

 

  1. Upgrade Your Bedroom and Bathroom

Renters are looking to relax, so any luxury you can provide them will do wonders for giving your property an edge amongst the competition. Two areas of the home where you can deliver on luxury are the bedroom and the bathroom. From the bedspread and pillows to the curtains and rugs, experiment with different textures in the bedroom to make it as comfortable as can be. A high-quality mattress is also a worthy investment to make your guests’ stay all the more memorable.

By making simple upgrades to your bathroom, you can give the guests the feeling of having their own personal spa. High-quality shower heads and a spacious, relaxing tub will help to deliver a luxurious atmosphere to your bathroom, as will meticulously cleaning the space and keeping your surfaces well organized.

 

  1. Upgrade Your Kitchen

A welcoming kitchen is the key to making your rental feel like home. Kitchen makeovers often come at a high cost, but there are ways to transform your kitchen without breaking the bank. Start by upgrading your lighting, giving your walls a fresh coat of paint, and refinishing your cabinets. If your kitchen needs new appliances, remember to select them first before making any renovations to ensure their dimensions are correct.

 

  1. Provide a Workspace

With more people working remotely than ever before, some renters will likely look at your property as a potential place to conduct their work. Accommodating these guests with a quality workspace can make your rental stand out. Consider making the workspace multifunctional using items like a folding desk. This gives remote workers the option to stow their home office setup at the end of the day while ensuring that the workspace won’t be a permanent fixture for guests on vacation.

 

Fun FactsHomeownership May 26, 2021

Tax Confusion

Did you know the value of your property according to the County Assessor is not the value of your property today?

Property owners up and down the Front Range recently received a postcard from their local County Assessor’s office with their new valuation.

Colorado properties are reappraised every two years on odd years.  The updated valuations determine how much property tax is paid.

Each County has their own unique processes and models for valuation, however…

All Counties must only consider comparable properties that sold between July 1, 2018 and June 30, 2020.

The value on your postcard is what your County thinks your property was worth almost a year ago.

As you are likely aware, the market today is significantly different than it was 11 months ago.  It’s actually quite different than it was 11 weeks ago!

The postcards with the new valuations tend to prompt very reasonable questions like:

  • What do I do if I don’t agree with the Assessor?
  • What is my property really worth?

We are happy to help you with either of these questions.

Our team is well-versed in the tax protest process, can help you research comparable properties and can also show you what your home is worth today. Just reach out to us if we can help you. The deadline to protest your value is June 1st.

 

Buyers May 23, 2021

Moving Into a Vacation Home

For some homeowners, purchasing a second home – or a vacation property – provides a place where they can have a change of scenery and an escape from day-to-day living. Since the start of the pandemic, a number of homeowners have chosen to move into their vacation homes to do exactly that on a longer-term basis. However, certain aspects of buying and moving into a vacation home differ from a traditional home purchase, so it’s important to work with a buyer’s agent who understands the nuances of both.

 

Before You Buy

One of the first things to consider before buying a vacation property is whether you are financially ready to take on everything that comes with managing and maintaining another home. If you’re still in deep with your primary residence’s mortgage and are not cash-ready, it may not be the best time to purchase a second home.

Like any home purchase, there are pros and cons to owning a vacation home. Vacation properties are likely to retain their value depending on where they’re located. They also allow you to experience the never-ending vacation lifestyle. However, owning a vacation property can come with its own set of unique expenses. Not only will be you responsible for all the maintenance work that you might normally leave to a property management company, but if the vacation home is located on the water or a steep hillside, you can also expect higher homeowner’s insurance costs.

 

Moving In

Any moving process presents unforeseen challenges and moving into a vacation home is no different. Whereas previously the home provided accommodation for relaxing, moving in will require it to meet the demands of everyday living. It may be high time to make repairs or upgrades to the home, which could drive up your move-in costs.

Before moving in, assess the condition of all furnishings to get an idea of what needs replacing. Making the home your main residence will put added strain on your appliances, so what may have previously worked well for short-term stays won’t cut it for full-time living. Check your refrigerator, dishwasher, and washer and dryer to see if they need updating before moving in.

If you’ll be working remotely in your vacation home, think about your desired work conditions before putting together your home office. Having a designated workspace will help balance your home and work life.

 

Market NewsSellers May 20, 2021

What is a Seller’s Market?

When the housing market favors sellers, a seller can expect ideal conditions for selling their home. However, that’s not to say that a seller’s market doesn’t come with its own unique set of challenges for parties on both sides of the transaction. That’s why it’s critical for buyers and sellers to work with an agent who not only understands their wants and needs but who can also help them navigate highly competitive market conditions.

 

What is a Seller’s Market?

A seller’s market occurs when demand exceeds supply. When inventory is limited, competition amongst buyers is fierce. Median sales prices increase, days on market decrease, and homes commonly receive multiple offers, often over their original asking price.

 

Selling in a Seller’s Market

Though demand is high in a seller’s market, staging and making any necessary repairs are still important steps to take before hitting the market. An agent can help a seller make important decisions about which repairs and updates help add value to the home.

When it comes to offers and negotiations in a seller’s market, sellers have the leverage. It’s common for homes to fetch more than their asking price with multiple offers on the table. Though prices are being driven up by demand, a seller may choose to list their home at or just below fair market value with the hopes of starting a bidding war. Because competition is so high, buyers may be willing to waive an inspection contingency to help make their offer stand out. Agents can help sellers decide whether they should conduct a pre-listing inspection, which sometimes helps the seller get more offers and command a higher price.

With multiple offers on the table, it may be tempting to simply choose the one with the highest figure; however, the best offer is also the one that removes risk and aligns with the seller’s goals. Whether that entails waived contingencies, a shorter closing window, or an all-cash offer, in a seller’s market, the seller has the power to choose. Sellers should fully review each offer with the help of their agent before proceeding.

 

Buying in a Seller’s Market

Buyers in a seller’s market must act fast. Due to the high level of competition, they must be prepared for a frustrating scenario where their offers may not win out. This emphasizes the importance of working with a buyer’s agent. In a seller’s market, it’s more likely that the buying process will include such factors as seller review dates and escalation clauses. A buyer’s agent will help navigate these challenges while working with their client to make their offer stand out. They will formulate a strategy, comparing their client’s wish list and budget against the limited number of homes available and proceeding accordingly. A buyer’s agent will also set the expectation that, due to the competitive nature of the market, finding the right home may take longer than expected.

In a seller’s market, the buyer is at a disadvantage when it comes to negotiations. The chance of getting a contingent offer is minimal and pushing for certain closing dates and specific repairs may do more harm than good to their offer. A cash offer has significant power in a seller’s market. If a buyer can make a cash-heavy or even all-cash offer, it is likely to stand out to the seller. It gives the buyer more buying power and greatly increases their chances of winning a bidding war.

 

For more information on the conditions of your local market, visit our website for Quarterly Real Estate Market Updates from our Chief Economist, Matthew Gardner.

 

Housing TrendsMarket NewsMarket Trends May 15, 2021

Drastically Different

Recently it seems there are many attempted comparisons being made between today’s real estate market and the 2006-2007 market.

It seems that people fear a repeat of what happened to the market in 2008 and 2009.

Buyers, understandably, want to make smart decisions and don’t want to buy in advance of any downturn.

The reality is this.  There are some similarities between now and the pre-bubble market of 15 years ago.  Namely, prices are appreciating quickly.

However, there is one massive difference.

The inventory of homes for sale right now is drastically different than 15 years ago.

The rules of economics tell us that, in order for prices to crash, demand needs to diminish, supply needs to swell, or some combination of the two.

Here’s the deal.  Supply today is a fraction of what is was 15 years ago.

Homes for sale today:

  • Larimer County = 238
  • Weld County = 226
  • Metro Denver = 2,594

Homes for sale 15 years ago:

  • Larimer County = 2,998
  • Weld County = 1,113
  • Metro Denver = 29,045

The reason why prices flattened and decreased slightly along the Front Range in 2009 is because the National economy had a meltdown and there was a glut of supply.

We do not have anything similar to those same dynamics today.

We are watching the market closely every single day.  While we don’t expect the current pace of appreciation to keep up, we believe inventory levels keep us insulated from any kind of crash.

 

Home RemodelingHomeownership May 13, 2021

Renovating Your Short-Term Rental

Renovating your short-term rental property will not only keep it in peak condition but will also help it stand out to potential renters. Completing remodeling projects with the goal of increasing the return on your investment is a matter of identifying which renovations make sense for the home, putting together a plan, and taking steps to minimize the risk of the projects going over budget.

 

Start with Repairs

Because rental properties are by nature a source of income, it’s worth your while as the homeowner to reduce maintenance costs wherever possible. This can often mean spending money in the short term on repairs and replacements in order to save money down the road. Furthermore, by upgrading your appliances, fixing leaks, and updating any outdated features, you will provide the most accommodating environment for your renters. Making these improvements can also help set your rental apart from other properties, giving you a competitive advantage in the market. As you go about making repairs, don’t forget to check the working condition of all faucets, electrical outlets, and lights.

 

Renovating Your Rental

Understanding the scope of your renovations and the motivation behind them before you get started will help formulate your plan moving forward. Are you looking to upgrade the home to sell it in the future? Are you renovating to increase rent? Or are you simply looking to be more competitive in the local rental market? Knowing the answers to these questions won’t necessarily change your renovation plans, but it will provide guidance as you enter the remodeling phase. Consider talking to your Windermere agent about how different projects may affect the value of the property.

Even a small-scale renovation can make a big difference in the minds of renters. To create the best first impression from the get-go, consider boosting your home’s curb appeal. Projects like exterior painting, refinishing a deck, and power washing your siding and walkways will help provide an inviting outdoor setting for your renters.

When it comes to interior renovations, kitchens are a great place to start. Thankfully, kitchen makeovers can be simple. Identify the areas of your kitchen that need repair first, then expand your project list from there. Next, consider upgrading the bathroom. Begin by checking your pipes, drains, and p-traps for any signs of wear and tear. Simple things like painting the vanity and updating the bathroom hardware can also make a big impact.

Last but not least, if you decide to hire a professional to renovate your rental property, be sure to gather multiple bids and compare prices before making your final decision.

Learn more about the pros and cons of investing in vacation rentals here: Vacation Home or Income-Producing Investment. You can also read about vacation home renovations by season here: Renovating Your Vacation Home.

 

Buyers & SellersHomeownership May 8, 2021

Extend the Life of your Roof

Your roof is one of the most important and expensive assets of your home, but no other element is quite as valuable. While the average lifespan of a roof is about 15 years, careful homeowners can extend the life of their homes without enduring too many hardships. Take a look at these three quick maintenance tips to help your roof last.

Keep Your Gutters Clear

Debris that accumulates and clogs your gutters adds extra weight and pulls at your roof’s fascia, which can be a costly fix. Look down the length of your roof for any signs of sagging or bending – that’s a sure sign your gutters are carrying too much weight and pulling at your roof.

Don’t forget the downspouts either, and don’t be fooled by easy-flowing water. Moss and algae buildup on and around your roof can slowly eat away at your roofing material and severely compromise its integrity.

Focus On The Attic

The exterior of your roof isn’t the only area you should focus on as your attic is your roof’s first line of defense against damage with a two-pronged approach: insulation and ventilation.

Insulating your attic has the double benefit of keeping your home’s internal temperature consistent while also preventing vapor and moisture buildup on the underside of your roof. When combined with proper ventilation your attic can stay dry and keep your roof’s rafters safe from moisture damage.

A great way to keep properly ventilate is to add a fan or dehumidifier to the attic.

Catch Problems Early

Check on your roof regularly, an easy time to remember to check is with every change of the season, or after a significant storm. Catching small issues early on will save you money in the long run, so utilizing the services of a reliable, professional roofer is an invaluable asset. As with any working professional, it’s a good idea to establish a working relationship with a roofer and even consider scheduling a yearly checkup for your roof just to make sure there aren’t any problems sneaking up on you. After all, spending a little each year to maintain your roof is a lot better than dropping $15,000-$50,000 on a new one, right?

 

Buyers & SellersHomeownership May 6, 2021

How to Prevent Water Damage to Your Home

Water is constantly coursing through your home, flowing in and out of drain pipes, sinks, tubs, and showers. Numerous systems in our homes are dependent upon water, but the minute it runs rampant it begins to cause damage. The consequences of water damage run the gamut, from rotted drywall and mold growth to serious structural issues. The following guide will help you understand what you can do to prevent water damage in your home.

Leaks

Leaks soften wood, which invites all sorts of unwanted activity from termites, while simultaneously creating a perfect habitat for mold and mildew growth. To prevent leaks, keep your drains healthy by frequently cleaning out your drain strainers and refraining from dumping grease down your drains. Check to make sure none of your drains are leaking and if need be, repair or replace your p-traps. Drips, dark stains around your pipes, and discoloration on your ceilings and walls are all strong indicators that a leak has sprung. If you notice an inexplicable spike in your water bill, this is also a sign of a potential leak. By identifying these signs, you can begin repairs right away and stop the water damage in its tracks.

Gutter drainage

A home with weak gutter drainage is an open invitation for water damage to occur. Cleaning your gutters routinely is the best way to prevent them from clogging, which helps to avoid damage to your siding and foundation. Make sure your downspouts expel the gutter water away from your house parallel to the ground. Take a trip to the hardware store for downspout extensions and elbows to make sure that water won’t build up around your home’s foundation, especially if you live in a rainy climate.

Sump pump

Your sump pump can be your saving grace should a water emergency occur. Sump pumps move excess groundwater away from your home, preventing it from infiltrating your basement or crawl space. They are connected to the Ground Fault Circuit Interrupter (GFCI) electrical outlet, which protects it from electrical shorts. There are two ways to test your sump pump. The first is by pouring in enough water to raise the float. If it’s working properly, the pump should activate and begin removing water from its pit. The other method is to unplug the pump’s power and plug it back in. If it does not turn on, it requires repair or replacement.

More

There are some additional steps you can take to prevent water damage to your home. Inspect your roof to identify any damaged shingles or cracks. While you’re up on the roof, take a look at your chimney. Repair any cracked or broken bricks and consider a chimney cap if you don’t already have one in place.

 

Water damage can be harmful to your home and your finances. Even the smallest leak can snowball into larger problems if neglected. By following the steps to prevent water damage, you’ll know if your home needs repairs before it’s too late. For more advice on preventing damage to your home, read our guides to wildfire and winter storm prevention.

 

Buyers & SellersFun Facts May 3, 2021

Colorado Bound

The 2020 Census confirms what we already know – Colorado is popular!

It turns out that many people have been Colorado-bound over the last 10 years.

Our state has grown by the equivalent of one Mile High Stadium’s-worth of people each year over the last 10 years.

Here are the numbers:

  • 2020 population is 5.77 million
  • 10-year population increase is 744,000
  • 10-year percentage increase is 14.8%
  • Colorado ranks 21st among all states for population
  • Only 5 states had a larger percentage increase over the last 10 years (Idaho, North Dakota, Nevada, Texas & Utah)

Only 8 states had a larger increase in population over the last 10 years (Arizona, California, Florida, Georgia, New York, North Carolina, Texas & Washington