Fisher Friday Flyer – May 6th, 2016
“Now those are words you can live by” ever hear anyone say that? What are words you can live by? How about our own? How about making our words the words we can live by. Now, I don’t mean your words make your own truth (we have enough of that in the world already). I mean that our words, our commitments, our promises (although I have it on good authority we should neither swear nor promise, but simply let our yes mean yes and our no mean no) are words that we DO live by. That by people knowing us that they are able to know that our word is in fact our bond and that we will not change it simply because the wind is blowing a different direction today. Let’s take a look at 2 simple things; 1) The importance we place on our words – which is sometimes very little, but they can mean so much, and 2) Integrity – what do we do when maybe we know we can get away with something? Does our word still hold true? Is it a word you can live by?
FOR YOUR READING PLEASURE
Apartment rent record set in 1st quarter 2016? Of course. Average apartment rent tops $1,300 for first time ever? Sure. Rent rises 9% year over year? Yep, we get it. All of these things, although so very incredible have at least temporarily become the norm. But here are a few other fun facts for you – even though rents are going up, vacancy also went up to 6.1% in apartments. That’s the highest 1st quarter rate since 2010. There will be 8,000-10,000 apartment units (50+ unit buildings) constructed in 2016 and 4,633 units were absorbed in the 1st quarter – how are we keeping up? Did you read the first couple lines of this paragraph… oh, right. Not a sign that we’re ready to slow down yet.
Nip it in the bud! Flippers, here’s perspective from the other side. Want to know how to have a clean sale? Here are four things recommended when buying from a flipper:
1) Pay attention to details
2) Get an inspection
3) Double your due diligence
4) Learn all you can about the flipper.
What do these mean? You may look at doing some of the legwork first… maybe not all of it. How about a third party inspection? Maybe a binder of documentation – a “present” for the buyers? Giving them the sewer scope? All these things can be done to ensure a quality product and help the buyer rest assured.
Last, but not least, 11 real estate facts just for the fun of it. I knew the McDonald’s gem – they are a real estate company that pays for the land with burgers, but brass disinfecting itself? Trading your way up to a house from a paper clip? So much to learn!
MORTGAGE RATE UPDATE
The latest Mortgage Rates: 30 Year fixed at 3.44% and 5/1 ARMS at 2.68%. 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
Numbers, numbers, numbers. Listings are down, solds are up and on and on it goes where it stops no one knows (but everyone tries to guess). Unload your rentals or hold on for the ride. Where is your stop? Flippers, get your inventory on the market and watch it fly! Anyone else feel like when you’re on the roller coaster climb waiting for it to hit the top, you close your eyes and trying to guess when that down rush is coming? The question is, is there a rush down? A gentle slope? Maybe just a “boring” plateau? Whichever it is, it probably doesn’t have the same potential as the climb indicates.
New Listing – 1133 (1465 Last week)
Under Contract – 1676 (1661 last week)
Sold – 1542 (1321 last week)
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 HOUSE! You’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 Saturday, May 14th at Poppies. We start at 7:00am. We’ll see you there!
Are you ready for the Real Estate Investor Success Summit? IT’S TOMORROW!! We’ll have our booth there and will even be presenting. This is put on by Pine Financial and Your Castle, it’s a good day of solid content. Details and registration are HERE.
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.
3925 Newton Street, Denver, CO 80211 2 beds, 1 bath. 1 car detached garage. Buy for $400K!
1566 South Michigan Way, Denver, CO 80219 4 beds, 2 baths. Yours for $245K!
6050 South Sterne Parkway, Littleton, CO 80120 3 beds, 2 baths. 2 car garage. Buy for $305K!
2602 Palmer Park Blvd., Colorado Springs, CO 80909 3 beds, 1 bath. 1 car garage. Yours for only $110K!
2901 Beacon Street, Colorado Springs, CO 80907 3 beds, 1 bath. 2-story. Buy for only $185K!
3072 Adams Street, Denver, CO 80205 3 beds, 2 baths. Yours for $408K!
9981 Bluegrass Street, Firestone, CO 80504 3 beds, 2 baths. 3 car attached garage. Buy for $375K!
310 South Lewis Street, Lakewood, CO 80226 4 beds, 2 baths. 1 car attached garage. Yours for only 267K!
Until next time,
QUOTE OF THE WEEK: “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” – John F. Kennedy