When it comes to buying or selling your home in downtown Denver, there are some quirky “rules” that can help you navigate the new housing market. A recent report by ABC News gathered the best tips by Zillow CEO Spencer Rascoff. As the author of “Zillow Talk: The New Rules of Real Estate,” Rascoff discussed some misconceptions people have about which homes sells and why. One of the great things about owning real estate in downtown Denver is that you are already in a hot market with homes that continue to appreciate in value. Still, there are things you can do to get the edge in any real estate transaction. Having an experienced Realtor who knows the downtown Denver market can make a huge difference.
Look for lucky numbers
When selling your home, the lucky number if any number above your original asking price. One of Rascoff’s quirky tips is to avoid superstitious numbers such as the number 4, an unlucky number in the Chinese culture as well as 666, which symbolizes the “market of the beast” in the Bible. You can incorporate lucky numbers such as 8 and 316 in the asking price of a home. When buying, hunt for addresses that include lucky numbers.
Buy a street name
Another off-beat real estate tip is to buy a home with a more prestigious sounding address. Look for a downtown Denver address which includes “lane,” “court” or “way” rather than “boulevard” or “street.” If you can’t find homes you like on a certain “lane,” pick a prestigious-sounding loft. For example, the “Beauvallon” condominium in the Golden Triangle neighborhood has an upscale ring to it. And, the condos are close to fine dining and art galleries.
Don’t renovate the kitchen
Most home sellers in downtown Denver spend money on an expensive kitchen remodel. Instead of remodeling a kitchen for someone else, spend money on a bathroom remodel instead. With a kitchen, most buyers today like to choose their own cabinetry and finishes. That’s why so many people opt to build a new custom home. As a seller, focus on improving the bathrooms as a luxurious retreat.
Find the Starbucks
If you can find the Starbucks, you can find your residential real estate profits. According to Rascoff’s research, homes near a Starbucks appreciate in a 17 year period by 96 percent compared to homes that aren’t near a Starbucks. Other homes in less “hip” areas appreciate by 65 percent over 17 years. The theory is that hipsters (who evidently love coffee houses) are good at finding the next great neighborhood.
At Peter Hauben Real Estate, we can help you buy or sell a condo, loft, townhouse or single-family home in Denver, Boulder or other nearby communities. We are experts when it comes to downtown Denver real estate.