Love Where You Live

Love Where You Live
Welcome to a transformative 2024 with Anne Barrington, owner, and managing broker of Barrington Group Real Estate. In this video, Anne shares our commitment to helping you “Love Where You Live” this year. With current interest rates, selling might not be the immediate choice, and we understand. At the Barrington Group, we’re here to assist you in enhancing your current living spaces, offering monthly updates on the latest home trends, primary bedroom makeovers, and smart organization tips. Subscribe to our YouTube channel and get inspired to love your home even more!

Community Giveback and Charity Happy Hours!

Starting February 20th, join us for bi-monthly Barrington Group Charity Happy Hours, supporting local nonprofits and businesses. Mark your calendars for our first event at Parker Garage, benefiting Covered Colorado—an organization helping survivors of human trafficking. Let’s come together, learn from Joanna Spille, Executive Director of Covered Colorado, and contribute to this crucial cause. At the Barrington Group, we believe in not only helping you love where you live but actively living where we love through community involvement.

A Meaningful and Impactful Year Ahead!

Here’s to a happy and fulfilling New Year. Subscribe for updates, and let’s make 2024 a year of positive change and community connection!

Wellspring Community, an Important Resource for the Community and Housing

Wellspring Community - Castle Rock Collective
As the owner of a real estate company, Barrington Group Real Estate, I would like to introduce you to Wellspring Community. My hope is to help you understand not only about buying and selling in the real estate industry, but also about other important resources for housing.
I had the pleasure of meeting with Peter Barber, the Development Director of Wellspring Community in Castle Rock, Colorado. Wellspring Community is a nonprofit dedicated to providing three key things for adults with intellectual and developmental disabilities (IDD).

Three key things that Wellspring Community provides adults with IDD:

  • Educational Day Programming
  • Meaningful Work Opportunities
  • Housing Solutions
Wellspring Community STARS
The first key service is a day program where they provide a variety of different classes for adults with IDD to enjoy. The second key program is to provide work opportunities for the Stars (the participants in the programs) so that they have a sense of engaging in meaningful work. The third key service is to provide a housing solution for adults with IDD.
In an effort to provide the third key aspect of Wellspring’s work, they are transitioning an old LaQuinta hotel into apartment complex for adults with IDD. Once the remodel is finished, the housing community will be called Unity Park and will offer 42 units ranging from studio apartments to one bedroom apartments that will provide housing for adults with IDD in the community.
Apartment Housing

Why is housing for adults with intellectual and developmental disabilities so important?

Unity Park, the development for housing apartments for adults with IDD, is such an important piece of the community. The options for housing for adults with IDD in Douglas County are very limited. There are 20,000 adults with IDD who are living with a caregiver and they don’t know what the plan will be for housing once those caregivers are unable to care for those adults. This is a very real need that Douglas County saw the demand for and partnered with Wellspring Community in creating this facility that’s providing housing in such an important way.
To support what Wellspring Community does, donations can be made through their website. Beyond monetary donations, they love for the greater community to come and meet the Stars. The program participants call themselves Stars because they are the stars of the Wellspring story. Tours are offered once a month and people are welcome to come and see the hotel if they want. Visitors can see the program, see some of the Stars engaged in the various different classes offered, or come and visit the coffee shop. Wellspring & CO. Coffee is located in downtown Castle Rock, Colorado at the Castle Rock Collective, which employs adults with IDD as baristas.
Barista at Wellspring & CO. Coffee - Castle Rock Collective
I can’t tell you how excited I was to take a tour with Peter at the Wellspring Community. I encourage you to contact Wellspring and take a tour of this amazing place.
Whether you’re buying or selling real estate, or just looking for housing resources, you’ll find it here at Parker is My Town. And don’t forget to like this video and subscribe to the Barrington Group Real Estate YouTube channel.

Affordable housing is a problem

Affordable housing is a problem - Condos

Affordable housing is a problem.

As the owner of the Barrington Group Real Estate company in Parker, Colorado, I know first-hand. There is no proof that more affordable housing options will be created with the proposed Colorado Senate Bill 23-213.

Unintended Consequences of Colorado Construction Defect Action Reform Act

The state capitol is shouting “build more housing now!” This one-size fits all approach to our affordable housing issues, offers no solutions. And, in fact, it will create more problems just like the Colorado Construction Defect Action Reform Act (CDARA) did. The Colorado General Assembly enacted the law in 2001 and amended it in 2003. It was intended to protect homeowners from shoddy construction work. The unintended consequences it created toward affordable housing in Colorado has been devastating. Builders had to stop building affordable housing, like condos, because of the frivolous lawsuits and skyrocketing insurance costs.
Affordable housing is a problem - Home Construction
It simply made it cost prohibitive.
Because builders were, and still are, reluctant to build affordable housing, this is what led to the shortage of affordable homes in Colorado. In turn, it has led to higher home prices and rents, making it very difficult for low-income families and individuals to find affordable housing.
The Colorado Construction Defect Law failed miserably at striking a balance between consumer protection and affordable housing. It ultimately hurt the very people it was meant to help.
Affordable housing is a problem - Homeowners

Colorado Senate Bill 23-213

Colorado Senate Bill 23-213 puts a singular state agency in charge, and that is a scary government. In order to address our affordable housing problems, it is going to take all cities, towns, counties, and the state working together.
If you want to learn more about this bill and how you can oppose it, then give me a call.
And don’t forget, please like this video and subscribe to our YouTube Channel.

Multigenerational Homes offer Cost Savings

Multigenerational Homes
Have you ever thought about living under one roof with more of your extended family in a multigenerational home? That means three or more generations living together, so with kids, parents, and grandparents all under one roof.
If you haven’t considered a multigenerational home, then here is why you may want to think about it.

Multigenerational Homes Provide Cost Savings

First-Time Home Buyers Save Costs with Multigenerational Homes
A recent study from the National Association of Realtors (NAR) found that 28% of first-time homebuyers who live in a multigenerational home chose this option for cost savings.
When you pool your incomes together, you can afford a larger home, and at the same time, it can bring your loved-ones closer. Multigenerational living is a great way to care for both the younger and older generations and spend some more quality time together as well.
There are endless reasons to choose a multigenerational home and it may just be the creative solution you need to reach your home ownership goals.

Multigenerational Households offer Many Benefits

Multigenerational Homes Benefits
According to Generations United, the following benefits are cited.
  • Proximity provides enhanced bonds or relationships among family members
  • Makes it easier to provide care for family members
  • Offers an improved financial situation for at least one family member
  • Can provide a positive impact on the physical and mental health of family members
  • Can make it possible for family members to train for a job or continue education

Making Multigenerational Living Work

While there are some obvious drawbacks to a multigenerational home like less privacy, more tendency for family conflicts, and potential caregiving burnout, some tips can help alleviate these challenges.
  • Maintain open communication on feelings and expectations
  • Define separate and shared living spaces
  • Have respect for one another’s space, time, and rules
  • Plan activities for intergenerational bonding
  • Setup recharging time for caregivers
Multigenerational Family
Multigenerational living is on the rise, so if you are in the market for a new home, then connect with the Barrington Group Real Estate company. We can help you decide if it may be an option for you. Let’s connect and explore what’s available in the real estate market in Parker, Colorado and the Denver Metro Area.
And don’t forget, please like this video and subscribe to our YouTube Channel.

The Keys to Selling Your Home this Spring

Backyard Patio - Exterior Upkeep Ket to Selling Your Home this Spring
If you’re planning to sell your house soon, then you are going to want to know what is in store for this spring housing market and the keys to selling your home.
While things have calmed down a lot compared to the buyer frenzy we saw during the pandemic and 2022, homes that are updated and priced at market value are still definitely selling.

Keys to Selling Your Home this Spring

  • Price your home at market value
  • Make sure your home is in ideal condition
  • Provide buyers good access
  • Make the first impression count
According to Jeff Tucker, a Senior Economist at Zillow, “…sellers who priced and market their home competitively shouldn’t have a problem finding a buyer.” You just need to be sure that your house in priced to sell and in ideal condition, because today’s buyers are definitely more selective.
Key to selling your home this spring are "...sellers who priced and market their home competitively shouldn’t have a problem finding a buyer.”

Price your home at market value

One of the most important aspects in selling your house in today’s housing market is to price it competitively. Understanding the home prices in your area and comparing your house to others on the market is key.

Make sure your home is in ideal condition

With increased buyer selectivity, it is important to make your home is as inviting as possible. This can include staging, fresh paint, steam cleaned carpets, and decluttering the garage.

Provide buyers good access

If a buyer cannot access your home to view it, then how can they decide whether or not to make an offer? Limiting access could have your house sit on the market for a longer period of time and even sell for a lower price.

Make the first impression count

The first look a buyer gets when walking up to your home is critical in setting the stage for their interest in the house. Sweat equity in cleaning up the exterior is as important as the condition of the interior of the house. Curb appeal makes a huge impact.
This is where working with top real estate agents is important because we know what makes a good realtor. We know what it takes to sell a house in Parker, Colorado and the Denver Metro Area right now. The best realtors provide the expert advice you need each step of the way to selling your home. See Selling your Home in a Slower Real Estate Market.
After understanding the keys to selling your home this spring, do you want to talk more about moving? Then connect with the Barrington Group Real Estate company today.
And don’t forget, please like this video and subscribe to our YouTube Channel.

Why is it Still a Seller’s Market?

Why is it a seller’s market right now?

There are not enough homes available to meet today’s buyer demand in the real estate market. That means it is an ideal time for those who are ready to sell because there are likely buyers out there right now who would love to buy your house today.

To put the real estate market in perspective, check out this graph which shows the number of active listing on the market for the last seven Februarys.
Active Monthly Listings last Seven Years

Active Monthly Listing Counts Over the Last Seven Februarys

  • 2017 – 1.15 Million Active Listings
  • 2018 – 1.04 Million Active Listings
  • 2019 – 1.10 Million Active Listings
  • 2020 – 927 Thousand Active Listings
  • 2021 – 463 Thousand Active Listings
  • 2022 – 344 Thousand Active Listings
  • 2023 – 578 Thousand Active Listings
As you can see, even though there are more available homes in February 2023 than in February 2021 and 2022, there are still far fewer listings than we saw in a normal pre-pandemic year.
That is creating a sweet spot for sellers right now. Housing inventory is low, which means that you have the advantage of a seller’s market. However, the housing inventory is also increasing, which means that you will have more options when you are home shopping and move.
As the pace at which buyer demand outpaces the housing supply continues to shrink, the need for buyers to enter into bidding wars and waive contingencies for things like appraisals and inspections also decreases.

Moving Toward a Balanced Market

According to BankRate, the guideline for a balanced real estate market, or one that neither favors sellers or buyers, is defined by a five to six month supply of homes. While we are still in a seller’s market, the balance between the housing inventory and buyer demand is progressing.
If you are thinking about selling, then this can be your chance. Connect with us at the Barrington Group Real Estate so that you can make the most out of this market.

And don’t forget, please like this video and subscribe to our YouTube Channel.

Sources: Realtor.com | BankRate

Worried about a Housing Market Crash?

Front Patio - Worried about a Housing Market Crash?
Are you worried that the hosing market is headed for a crash? You aren’t alone! Two in three Americans think that there is going to be a housing market crash in the next few years.
However, here is the reality… a crash like we saw back in 2008 is far from likely.
Today’s housing market isn’t like it was 15 years ago.
  • Mortgage standards are stricter now than they were in 2008
  • There are fewer foreclosures in today’s real estate industry
  • There are fewer homes for sale in today’s housing market

Mortgage standards are higher today than during the 2008 housing market crash.

Back in the 2008, it was so much easier to get a home loan. If you could fog a mirror, then you qualified for a mortgage. Mortgage standards are way tighter now with laws and regulations in place to prevent predatory lending, which means that buyers are more qualified.

The real estate industry has fewer foreclosures today than the housing market crash of 2008.

With the higher mortgage standards and more qualified buyers, homeowners are less likely to default on their loans. According to Rick Sharga of ATTOM in an article on U.S. News, “ninety-three percent of borrowers who are in foreclosure today actually have positive equity in their homes” that provides more options for better landing places.

Back in 2008, there were far more homes for sale in the housing market compared to the number of buyers.

Excessive building prior to 2008 is one reason why home prices dropped, with supply outstripping demand. Now there are too few homes on the market, mainly due to a number of years of under-building, and that is the key reason that home prices are still strong.
When we look at the facts, it is clear that today’s real estate industry is very different from the housing market crash of 2008. There is no need to fear a crash.
Connect with us at the Barrington Group Real Estate and lets talk. While we take the real estate process and business seriously, we also like to have fun working as some of the best realtors in Denver.

And remember, please like this video and subscribe to our YouTube Channel.

Sources: MBA | ATTOM | NAR

Is it a Seller’s Market right now?

Is it a Seller's Market right now? Living Room
If you are looking at selling your house while shopping for a new home, you have a couple key advantages right now in the seller’s market today.

Advantage for Buyers in Current Seller’s Market

There are more homes for sale in the housing market right now than there were previously at this time last year. This means that home buyers have more options to choose from. Additionally, this also means that buyers are more likely to find what they are looking for when home shopping versus last year, where 80% of buyers said that they had to settle according to LendingTree.

Advantage for Sellers in Current Seller’s Market

While the housing inventory is increasing, it is still 43.2% lower than 2017-2019 according to Realtor.com, so if you price your house right, then it’s going to be in high demand. There aren’t enough homes on the market today for the number of buyers who want to purchase them, which means your house could sell very quickly and sellers need to be prepared for that.
With more homes to choose from but still an overall shortage of real estate listings, you may be in a true sweet spot this season.

Seller’s Market Sweet Spot

  • With less competition, the market sees higher prices and quicker sales
  • Sellers have more negotiating power, where you’ll need to make less concessions
  • Frequently older homes means premium location and larger lots which leads to more demand and generally higher sale prices
If you’re ready to make a move, then we at the Barrington Group Real Estate can give you expert guidance (we know what makes a good Realtor). Let’s connect so that you don’t miss out on what today’s housing market has to offer.
And don’t forget, please like this video and subscribe to our YouTube Channel.

Pros and Cons of New Construction Homes vs Resale Homes

Construction Site - Pros and Cons of New Construction Homes vs Resale Homes
Are you planning to make a move this year? With so few homes available to buy right now, it is important that you really consider all of your options. Let’s take a look at the Pros and the Cons of building a new home versus buying one that already exists.

Pros to New Construction Homes

  • Customizable Features
  • Warranties
  • Energy Efficiency

Cons to New Construction Homes

  • Higher costs can come in the form higher price per square foot, material cost, and features potentially not included like fences, basements, and sod.
  • Limited negotiating power as the builder is frequently the seller and wants to maximize profit.
  • Decision fatigue can happen when deciding between all of the customizable features.
Building a new home lets you choose the features that you like the most, it’s customizable, and everything is brand new. Plus, new homes usually come with warranties and greater energy efficiency, both of which can help you save money in the long run. New construction homes tend to have lower maintenance with no immediate projects to manage, which can provide peace of mind.

Pros to Resale Homes

  • Variety of Styles and Floorplans
  • Established Neighborhood
  • Move in Faster
Homes that have been lived-in, or resale homes, offer a wider range of styles and floorplans. They allow you to join an established neighborhood, plus you can usually move-in faster without waiting for a new home to be built. New construction homes can work on a longer timeline, so if you have a short buying window, then resale homes might be the best fit.
There is a lot to consider when thinking about new-build homes versus buying an existing house. This is why it is so important to work with an expert advisor and top real estate agents to help you weigh all of the options in todays real estate market.

Things to Remember when looking at New Construction Homes

A couple important things to remember before you wander into a model home all by yourself. Look around you, everything you see is likely not included or it is an upgrade. You will not save money by not using a real estate agent, but the builder will make more money. The nice salesperson onsite works for the builder, and not for you, so make sure you have representation.
If you’re thinking about your next move, then let’s get together and talk about what is available for real estate in Parker, Colorado and the surrounding area (Homes for sale in the Denver Metro Area).
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