Competition- Love it or Hate it

Fisher Friday Flyer – June 10, 2016

Competition: Webster’s Dictionary defines it as-  the act or process of trying to get or win something (such as a prize or a higher level of success) that someone else is also trying to get or win.

I spent last week in Lake Placid, NY competing in the Fly Fishing National Championships (Yes, you can compete in fly fishing) while I was fishing on one of the hardest venues of my life I started thinking, “How does the Denver real estate market compare to what I’m doing?” In real estate we’re all going after the same deals, just like in fishing, I’m going after the same fish as my competitors. My Goal is to catch the fish the other guy forgot or missed. When I catch one I feel like I’ve won! When I don’t….. you get the point. When competing for houses in the Denver market it feels like we’re going competing with everybody in town, are we? Or, is it just a couple of people? How do you find the house someone missed or over valued?

Competition is healthy for our market, with out it our prices go down. So, embrace it and let the competition raise the values. Figure out how to find that deal, do more research, ask more questions, or search in new places. I’ve said it before “Think outside the Box”

FOR YOUR READING PLEASURE

$150,000,000 for affordable housing in Denver?

The City of Denver needs to build new affordable house now! How do they do it? Tax developers and builders and/or raise property taxes. The numbers in the article could be a little disturbing until you read the between the lines. If you’re a developer you will want to be prepared for some kind of tax.

MORTGAGE RATE UPDATE

The latest Mortgage Rates: 30 Year fixed at 3.41% and 5/1 ARMS at 2.71%. Expect investor (non-owner occ) rates to run about ½ point higher on non-owner occ loans. (These are AOL/Zillow.com reported average rates as of Thursday)

REAL ESTATE WEATHER REPORT

New listings are up and solds are down. 2 weeks in a row??? O’boy is this the end??? No, I think it’s just the market taking a breather as kids get out of school and people go on vacation.

New Listing – 1712 (1617 Last week)

Under Contract – 1683 (1761 last week)

Sold – 1235 (1279 last week)

The word on the street is the higher end of the market is taking longer to sell. So, if you have a flip in that part of the market price it right.

Our Invest Success Mentorship Program is ongoing and we are signing up more students.  Tell your friends. We offer LOCAL webinars, house tours, and small, personalized classes as well as hands-on on-site experience.  You will learn where and how to look for deals!  Oh, and our flagship program requires you to REHAB A HOUSEYou’ll have our ear for a year! Amp up your business with custom systems and procedures. Go to our website for more information. Better yet, call us. Nothing ventured, nothing gained!

Call us with tips, rumors, conjectures, deals, and cold cases (we’re thirsty!).  If you’re not on our list and want to be, LET US KNOW. Write, Text, Tweet, Facebook (the verb), E-mail, drop by.  Next Breakfast Club is TOMORROW at Poppies. We start at 7:00am. We’ll see you there!

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INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 720-345-8361.

2711 Clayton Street, Denver, CO 80205  2 beds, 2 baths. 1 car attached garage. Buy for $395K!

915 West Colorado Avenue, Colorado Springs, CO 80905  2 beds, 1 bath. Yours for $195K!

1946 East 128th Drive, Thornton, CO 80241  4 beds, 3 baths. 3 car attached garage! Wood floors. Yours for only $390K!

560 South Navajo Street, Denver, CO 80223  2 beds, 1 bath. Buy for $365K!

2874 South Bannock Street, Englewood, CO 80110  2 beds, 1 bath. Yours for only $220K!

20412 County Road 76, Eaton, CO 80615  2 beds, 1 bath. Huge Lot!. Buy for $245K!

5318 Lowell Blvd., Denver, CO 80221  3 beds, 1 bath. Big lot in popular area! Yours for $290K!

2867 Benton Street, Wheat Ridge, CO 80214  2 beds, 1 bath. 1 car detached garage. Buy for $305K!

3147 West Walsh Place, Denver, CO 80219  2 beds, 1 bath. Yours for $195K!

1128 Cambridge Avenue, Colorado Springs, CO 80906  3 beds, 2 baths. 1 car attached garage. Buy for $115K!

1217 South Pennsylvania Street, Denver, CO 80210  3 beds, 2 baths. Buy for only $335K!

2520 South Holly Street, Denver, CO 80222  4 beds, 3 baths. 2-car garage. Buy for $440K!

9981 Bluegrass Street, Firestone, CO 80504  3 beds, 2 baths. 3 car attached garage. Buy for $375K!

 

Until next time,

Tim Emery

www.invest-success.com

303 338-8000

303-517-9197

QUOTE OF THE WEEK: “Float like a butterfly Sting like a bee” – Muhammad Ali

“I hated every minute of training, but I said, ‘Don’t quit. Suffer now and live the rest of your life as a champion.’ –  Muhammad Ali
 

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