Think of it is a mini-parade of homes.
“But way more cool,” said Liz Richards, a broker with Kentwood City Properties. “But you know I love infill development.”
Richards, along with fellow City Properties broker, Deviree Vallejo, and the company’s co-owner, Dee Chirafisi. will showcase eight northwest Denver properties with 13 units from 1 p.m. until 4 p.m. on Sunday. It is the third consecutive year of the Highland Home Tour. (For more details about the tour, please visit the link at the bottom of this story.)
Together, the units are listed for a total of more than $5 million. They range in price from $339,000 to more than $1 million. The units are spread in three main neighborhoods: LoHi in the Highland area; West Highland; and Sloan’s Lake.
“The great thing is that if you just want to stay in the Highland Square area, for example, there are several places very close to each other,” Vallejo said. “Every unit has a map, so it’s an easy drive if you want to visit all of them.”
All of the developments are less than three miles from each other, according to calculations by InsideRealEstateNews.
NW Denver housing hot
Northwest Denver has remained one of the strongest sub-markets in the area, the brokers say. It also is one of the few neighborhoods where you can drive around and still find a number of spec homes – often in the $600,000 range – being built on many blocks.
“Things are moving,” said Richards. “This is been my best first-quarter ever. I’m tracking to have my best year ever. Part of is that a lot of Realtors have left the business. All the amateurs are getting out. And sellers are finally listening to their Realtors on pricing. I still see a lot of things that are over-priced, but if you want it to sell, you have to price it to the market.”
Richards said that her typical sale this year is probably in the high $300,000s. “The average price has gone down, but I’m selling more units,” she said.
Tax credit front-loaded market
Vallejo said that she is experiencing the same type of activity.
“Knock on wood,” Vallejo said. “But I am worried that this year is going to be front-loaded, because of the tax credits (which require homes to be placed under contract by today and closed by June 30.) But we are seeing tons of demand. Part of it is the tax credits and part of it is pent-up demand, because the economy was just so bad last year, a lot of people weren’t confident about buying or selling a home. That seems to be changing.”
Although the weather forecast isn’t great for Sunday, both Richards and Vallejo are anticipating several hundred people may attend the tour.
“One really neat thing is that we are showcasing homes from several different developers,” Vallejo said. “Each one has a different ‘wow’ factor. For some, it might be a third-story deck, with fantastic views. For others, it might be kitchens with really high quality appliances and great lighting. Some are super-modern, while others are more of a combination of contemporary with a softer, more classic look.”
Richards said that one person might decide to buy a unit from the tour.
“That what our experience was at our previous tours,” she said. “It’s all a numbers game. A lot of times it is hard to quantify, though. Someone might see a unit on the tour, come back and look at other homes in the area, and make their decision sometime down the road. I just think that energy begets energy. And these tours create a lot of positive energy.”
For more information, please visit Highland Home Tour.
Contact John Rebchook at JRCHOOK@gmail.com or 303-945-6865.