Denver Arts Week – Know Your Arts

Did you know that Denver has an artistic side? Check out “A celebration of the city’s vibrant arts and cultural scene.” The 5th Annual Denver Arts Week is next week, November 4-12.  Art Week presents over 200 events at metro area galleries, museums, performing arts venues, and cultural attractions.

Enjoy Know Your Arts First Friday on November 4thin one of Denver’s many hidden, creative neighborhoods. For a list of neighborhoods, see the event calendar.

Explore one of Denver’s Art museums for Night at the Museums on November 5th. All museums are open late and FREE between 5 and 10pm. Can’t decide which museum to visit? See them all with the free shuttles transporting art enthusiasts between museums.

If performing is more your style, check out Denver’s on Stage all week long. Special performances, discounts, $52.80 ticket deals, free programs, plus all whole lot more! For a complete list of shows, visit Denver on Stage.

For steals and deals or more information, visit denverartsweek.com.

 

Fixing and Flipping – Still Profitable?

Investors – October News

Fixing and flipping has gone out of vogue the past few years as investors claim they can’t find properties cheap enough to make the effort and risk worthwhile. But it turns out that the gross margin for fix and flip has actually RISEN over time, making us think that perhaps it’s time to relook at this investing strategy.

Success Story

One of the investors in our office purchased a fix and flip property in Arvada back in the spring for $95,000. She did a major fix up project and produced a very nice product. We put it on the market in June. We had several offers that didn’t pan out but ended up selling it in August for $165,000, giving her a solid profit. We’re now out looking for our next project.

Two Reasons to Buy Now

Buyers – October News

As discussed in the October news post, the lack of quality inventory on the market, helping private sellers move their properties quickly and for a good price. So if you’re a buyer, how do you play this market?  There are at least two reasons why buying in the near future could make a lot of sense for you.

The first is that homes prices are still down from their highs in 2006. They’re down about 32% nationally and 8% locally. Add to the equation record low interest rates and the

 

result is that housing affordability is at the lowest level on record! To repeat: the combination of lower prices and record low interest rates means the average buyer in Denver has NEVER seen homes more affordable than today. That alone is what’s gettingmany of my clients off the fence and interested in looking for a home again.

The second reason is that while there certainly is a lack of move-in ready, non-distressed properties on the market, there are still LOTS of bank-owned and shortsale properties for sale. So if you’re looking for a deal and don’t mind waiting out a shortsale (or putting on your overalls and painter’s cap) you just might get a phenomenal deal. Buyers who are willing to put up with these hassles can get a terrific buy on a home at very low interest rates and position themselves wonderfully for the inevitable housing recovery. It does take patience. It does take grit. But if you’re willing to sift through the chaff to find your golden nugget of wheat, call me and let me show you what’s out there.