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The Short Answer: An Infinite Amount Just because “white” is often thought of as one color doesn’t mean all-white kitchens are the same. There are actually 494 different shades that fall within the actual hue. Beige isn’t white, though some people consider it a “white” color. Eggshell white is different from the sort of white you’ll find on a piece of paper. There are white colors so “bright” they impact the eyes. Other whites are muted. So which hue of white is right for your kitchen? Well, that’s going to depend a lot on your personal preferences. It will also partially depend on the sort of home you’re decorating. Sometimes a purely white kitchen is perfectly complementary to a given space. In other instances, white will starkly contrast with the rest of the home, and it’s not a good thing. Here we’ll explore a few of the details that surround kitchen décor. Because endless variations of design exist for kitchens, we’re just going to focus on a few kitchen features to help give you an idea of what’s out there, and the best steps for your property. 1 – The Cabinetry Component White Shaker cabinetry represents one of the most popular styles of white kitchen cabinets, and you can explore quite a selection at the Cabinet City website. A few notable examples of this cabinetry style include Malibu, Jersey, Lexington, Aspen, Huntington, and Irving White Shakers. Each of these styles brings something slightly different to space. Beyond wooden cabinetry, there are also metal options and those that have transparent cabinet doors. You might have the interior and exterior of cabinets colored white, then paint around the edges of glass doors. Backlighting your cabinets is a fine step that makes your kitchen “pop”. Also, you might explore “open” cabinets. That is to say: those which are essentially a stylistic cubby hole—there are no cabinet doors at all. This is a sort of Spartan, modernist style that has become more prevalent in recent days. 2 – Countertop Shades Now counters can be white as well. You could paint them, then apply a protective coat to keep the counters easily cleanable. Or, you might look into granite countertops. Granite and marble have a variety of shades, and there are a few quartz options out there that have a “pearl” coloration to them which fits comfortably among a variety of white shades. Here’s what Home Depot has in this area. Metal counters can be a bit more difficult to find in white colors, as the paint is superfluous in many scenarios; though there are white metal options out there that have different qualities of coloration defining them. Generally, you want countertop options that are designed and polished to their natural coloration. 3 – Appliances, Lower Cabinets, Tile, And Trim Appliances for the kitchen are usually black, white, gray, or dusky red color. Different variants exist, but these are the primary options. Often, homeowners try to match appliances to the décor of the rooms those appliances are central to. Additionally, you have lower cabinet options that need to be matched to upper cabinets, appliances, counters, etc. The tiling scheme you use on your floor, or the backsplash of tile behind the sink, may be purely white, or you could have a checkerboard pattern. Some kitchens will put white and off-white together in tile design for a subtle contrast. Trim is another region of kitchen design to consider. A lot of kitchens use LVP, or Luxury Vinyl Plank, for the floor. Well, the edges of that LVP are hidden under “trim”, which is usually about a half-inch thick, and two inches high. That trim outlines the kitchen, and sometimes it’s good to contrast it to the white. Other times it’s best to match it exactly.   Finding The Balance Befitting Your Home Whether you decide to make the whole premises white, or just the cabinets, there are multiple options to explore. Countertops, appliances, tile, trim, lower cabinetry, upper cabinetry—all have their variations. What makes sense is taking a few pictures of your present kitchen in good light from a good angle, and sketching out a few possible designs. Also, taking pictures helps you search for cabinetry online, or explore local home improvement stores. Whatever works best, do that—and keep in mind: just because your kitchen is white doesn’t mean it’s the same design scheme as any other house. Especially if you go the DIY approach with your renovation, your kitchen will be as unique as you are.  

Check out these February Events & Fun!   February 1stto 28th: Black History Month “Each February, Black History Month honors the achievements and contributions of African Americans to the country. Celebrate throughout the Denver metro area with lectures, dramatic performances and music.” Click here for a full schedule of events!           February 7th: Superbowl LV “The matchup for Super Bowl LV in Tampa, Florida is officially set and it pits the defending-champion Kansas City Chiefs against the Tampa Bay Buccaneers. This year’s big game is a big one for CBS and its family of networks. CBS is set to broadcast the Super Bowl for the second time in three seasons, which will be its 21st Super Bowl broadcast, the most in league history. You can watch the game FOR FREE on CBSSports.com and the CBS Sports App on your phone and connected TV devices or with your CBS All Access subscription.” More Info!         February 7thto 13th: The 19thCentury in European and American Art Opening Week! “In newly installed galleries, view about 85 artworks from the museum’s collection by Claude Monet, Berthe Morisot, Paul Cézanne, Édouard Manet, Willard Leroy Metcalf, Pierre-Auguste Renoir, Childe Hassam, and others that tell a story about one of the most important times in art history.” More Info!         February 8thto 17th: Denver Jewish Film Festival “The 25th Annual JCC Mizel Arts and Culture Center’s Denver Jewish Film Festival powered by The Chotin Foundation will be held entirely virtually and “on demand” from February 8-17, 2021. The Festival includes 21 feature films and 10 shorts showcasing Israeli and Jewish cinema from 14 countries.” Tickets & More Info!         February 13thto 21st: Colorado Garden & Home Show “Because of the COVID-19 pandemic, the 2021 Colorado Garden & Home Show is taking place virtually this year, sponsored by Bellco Credit Union. Get ideas, inspiration and advice for your home from more than 400 companies participating in the Virtual Show. Research, compare and choose from thousands of products and services, and take advantage of show-only specials!” Get More Info!         All Month Long: Winter Fun & Outdoor Activities “Winter makes The Mile High City sparkle. Denver is also the world’s largest après ski town. It’s a great place to gear up, find deals and acclimatize before you hit the higher Rocky Mountain ski slopes of Colorado.” What to do in Winter in Colorado!     Have a great month and stay safe!

A New Year Brings New Optimism As 2021 rolls on, we feel ready to take on the world in the fresh new year. Although we are left with many of the same problems as before, it seems that with vaccines continuing to roll out to the at-risk among us, there is light at the end of the tunnel. Hopefully, a slow solution to our nearly years-long health crisis should start to bring about more consumer confidence, and as a result, even more traffic in the real estate market. Five Metrics to Watch to Gauge the Strength of the Market When we do market research, we focus on five key metrics that can tell us about the health of the market and what direction things might take. See below for an in-depth breakdown of these key data points to get more insight into what the market is doing: Average Sales Price We expect strong price appreciation in the first half of 2021, but more moderate price growth in the 2ndhalf. Homes have gone up in price in all but 4 years in the past 44! Just because we are at record high prices DOES NOT mean prices have to fall next year. Prices have been rising for 12 years straight… on average, home prices rise 6% per year. In the past 12 months, prices rose 8% for detached homes. Months of Inventory (MOI) MOI is a metric that illustrates, hypothetically, if prices remained at the same levels they are right now and no new homes came onto the market, how long would it take to sell all the available inventory? This metric has been relatively stable for 48 months. MOI on 1/04/2021 was 0.3, a 30yr record low!  We do not anticipate improvement until mid-2021 at the earliest. We have been through tight inventory in the past (1993-2000). There is a normal level of seasonal variation in the busier spring and summer months.     Under Contract Listings The number of Under Contact Listings is a good leading indicator of closed sales volume. Volumes are a bit higher than this time last year due to delayed demand from the COVID crisis. We anticipate strong sales volume for the new year. The lack of inventory is the main constraint; there is plenty of buyer demand (and cheap mortgage money).   Number of Listings Sold First quarter (Jan-March) of 2020 saw a 5-14% increase in sales versus first quarter of 2019. Real estate was hit hardest in the second quarter of 2020, as people were not allowed to show homes, but recovered just as quickly. This resulted in higher than usual sales, setting records for third and fourth quarters. This was especially true in the luxury market (Homes $1MM+) as more affluent buyers took advantage of record-low interest rates.   Inventory Inventory is down dramatically for both homes and condos. It has been interesting to see the demand for homes and condos respectively change directions amidst the COVID crisis, in that detached homes are seeing an even tighter seller’s market. Inventory levels of homes and condos available for purchase had been growing in 2019 but dropped again throughout 2020. As you can see, inventory is the lowest it has been in over thirteen years!     And finally the Monthly Market Snapshot:

2021 is Here! Check out these January Events & Fun   January 6th to 16th: Blossoms of Light “The Gardens’ signature event for more than three decades, this annual holiday lights extravaganza transforms our York Street location into a twinkling winter wonderland. Join us for this family-friendly event that has become a holiday tradition for thousands of Front Range families. Pre-purchased timed tickets and masks covering face and nose required. Available for purchase: Holiday treats, warm drinks and our souvenir reusable mug.” Tickets & More Info!       January 7thto February 28th: Dillon Ice Castles “Ice Castles is an award-winning frozen attraction located in four cities across North America. The experience is built using hundreds of thousands of icicles hand-placed by professional ice artists. The castles include breathtaking LED-lit sculptures, frozen thrones, ice-carved tunnels, slides, fountains and much more.” Tickets & More Info!         January 13thto 15th: Colorado Avalanche V. St. Louis Blues “The Avalanche are set to open the 56-game slate on Wednesday, Jan. 13 against the St. Louis Blues at Ball Arena. Due to the continued COVID-19 pandemic, the Colorado Avalanche will not host fans at home games at the Ball Arena until further notice. However, this game will be televised on NBCSN at 8:30 p.m. MST.”       January 18th: Martin Luther King Jr March & Parade Celebrate the largest Martin Luther King Jr. march and rally in the United States, this year virtually!   “If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl, but whatever you do you have to keep moving forward.” -Martin Luther King Jr.   More Info!               January 28thto February 3rd: Sundance Film Festival “Welcome to the 2021 Sundance Film Festival. A new chapter filled with possibilities. Despite the challenges this year has brought, nothing could stop us from celebrating independent film, visionary artists, unique perspectives, and you, our adventurous audiences. So, for the first time ever, we are bringing the festival to you—both online and in the real world across the US and beyond.” Tickets & More Info!      Stay safe and have a great January!    

Happy New Year! 2020 has finally come to an end. When the year started, few of us expected to live through the worst pandemic in a century. It’s been a mixed year of tragedy, setbacks, and small victories. Many of us have had to totally alter our lifestyles to adapt. Considering how hard this year has been on local families, communities, and our great state of Colorado, all of us at the New Era Group at Your Castle want to thank you for your continued readership and patronage. We are immensely appreciative of each and every one of our clients. As vaccines begin to distribute and we see a glimmer of hope transitioning into 2021, continue to stay safe and be kind to one another. Try to help someone out in their hour of need if you are able. As always, let us know how we can better serve you. Misleading Statistics for 2020 Regarding real estate, many have asked us recently, “What will 2021 bring for our market?” Although we can never predict the future, if we look at trends from the past year it can guide us to a better understanding of what the new year might bring. DMAR (The Denver Metro Association of Realtors) puts out a year-end report detailing various real estate metrics. In November 2020 the number of Active Listings (attached + detached) on the market was just above 3,400. That is about 50% down from where it was in 2019! By comparison, over the past 15-20 years the average was around 14,000 active homes & condos. These extremely low levels of inventory are driving a sense of scarcity in the market, thus average prices are going up. How much are they going up, you ask? Based on the data, home prices are up about 13% on average so far from 2020 (Jan-Nov) vs. the same timeframe in 2019 (Jan-Nov).  

Get outside this December with these fun events!     November 27thto December 31st: Parade of Lights “The Downtown Denver Partnership is transforming the community tradition, 9News Parade of Lights, in 2020! We are thrilled to announce that this year’s Parade will be a multi-week, socially safe extravaganza of activities across downtown. The floats you know and love will be displayed throughout downtown for several weeks beginning Friday, November 27. The Parade floats will span from Denver Pavilions to Denver Union Station, offering multiple chances for our community to relish in the charm and excitement of the holiday season again and again. Can’t make it to the Parade? 9News will be telecasting the event on Friday, December 4 at 8 PM and there will be a mobile app you can download with pictures and event info.” More Info!       December 3rdto 23rd: Denver Christkindl Market “Hosted by the German American Chamber of Commerce- Colorado Chapter (GACC-CO), this outdoor, pop-up cultural event offers guests an opportunity to stroll through a European village festively decorated for the holiday season – no passport required. Adjacent to the colorfully-lit City and County of Denver Building, the Christkindl Market brings the most beloved elements of an authentic German holiday experience to the Mile High City.” More Info!       December 3rdto January 2nd: Mile High Tree “The Mile High Tree, presenting sponsor Modelo®, is a brilliantly lit, 110-foot-tall immersive art installation, which will be on display in downtown Denver November 20 – January 2. The tree is free and open to the public! During open times, visitors to the Tree will enjoy a selection of festive and diverse holiday songs timed to the Tree’s exciting light displays. The program lasts approximately five minutes and will run approximately every 15 minutes. When the Tree is not open to the public, visitors can still enjoy the Tree’s programmed lights without music safely from the perimeter of the Tree lot on either Welton Street or on the 16th Street Mall.” Schedule & More Info!       December 3rdto January 2nd: Denver Lights & Sights Walking Tour “This holiday season, come embark on a fun-filled 1.5 hour Holiday Lights & Sights walking experience as you take in all of the magic and cheer of this festive time of year in the Mile High City. Come enjoy the unique history, architecture and beauty of Denver’s holiday lights and top sights at night with our Denver Walking Tours team for our limited-run Denver Holiday Lights experience!” Tickets & More Info!       December 4thto 31st: Zoo Lights 30thAnniversary “It’s official: Zoo Lights has been making magic, memories, and even marriages for 30 amazing years! Presented by Your Hometown Toyota Stores, this illuminating annual event transforms Denver Zoo into Colorado’s WILDEST winter wonderland. Don’t miss this year’s historic celebration, with more than a million lights sparkling over 80 acres—plus a host of special measures to keep your family safe and healthy.” Tickets & More Info!       December 18thto 25th: Colorado Ballet’s The Nutcracker. “Tune in to view this special presentation of Colorado Ballet’s The Nutcracker on Rocky Mountain PBS. Join Clara and her arm of toy soldiers as they battle the Mouse King and journey to the legendary land of Sweets. Colorado Ballet’s The Nutcracker premieres on Rocky Mountain PBS on Thanksgiving Day at 7pm. Fri. Dec. 18 – 9pm, Sat. Dec. 19 – 1am, Thurs. Dec. 24 – 7pm, and Fri. Dec. 25 – 12am.” More Info!     Have a great month and enjoy the holidays!

  As we wrap up this turbulent year, there are still so many uncertainties in the world. One thing remains unshakably clear in Colorado, there is no shortage of upward movement in the local real estate market this year. To close out this year in newsletter, here’s a quick summary of what’s happening and what we expect in the three general price sectors – entry-level, mid-range, and luxury, as well as our monthly tips for Buyers & Sellers. We’ve also included a downloadable Home prep Checklist to prepare your home for sale!   Persistent Low Inventory in Entry-Level and Mid-Range Market Entry level homes between $300K-$500K did not see much material change in number of homes sold this year. Despite this fact, people were still consistently buying homes through the economic uncertainty of the pandemic. This remains a positive signal for the strength of the local market. However, as stated in some of our previous publications, the $500K- $900K price range truly led the recovery after the initial shutdown this spring. Flocks of people cashed in on low interest rates and high equity, trading up into that higher price range. The demand for their entry level homes was sky-high and there was plenty of mid-range inventory to choose from. Who wouldn’t take advantage of that situation if given the opportunity?   An Unexpected Luxury Boom Somewhat unexpected, based on data from earlier in 2020, is that luxury home sales (homes over $1MM) saw an increase of 115% over the past year in the Denver metro area. It could be that many people who were planning to buy into the luxury market over the next few years saw that interest rates were exceptionally cheap for mortgages and Jumbo mortgages. This may have prompted them to advance their plans and get deals done sooner. Since so many luxury deals happened in 3Q of this year, next year may see a drop in luxury home sales. This means that the 12% increase in the year-over-year average sales price, seen in 3Q20, will also drop dramatically. There may even be a shift into a negative price appreciation for several months. To some, this will be in stark contrast to the strength of 2020 price gains. Compare this year’s 12% y.o.y. avg. price gain to the 6% historical average! This year seems to have seen twice as much appreciation as the norm. When these averages abruptly reverse it might seem like the market is tanking and Denver homes are devaluing.   What will most likely have happened is: A) The mix of homes available in 2020 was skewed with far more in the upper price points due to a serious lack of entry-level inventory. The mix of inventory is expected to move towards lower priced homes in 2021, which will affect the data. More of those homes are expected to come on the market due to delays from COVID this year. B) So many luxury sales happened on the back end of 2020 that there will be less luxury deals to be made in 2021. This will lower the average price but will not necessarily mean that everyone’s homes are devaluing. Despite any sensational headlines you may see about home prices, real estate activity will most likely just be shifting towards the lower end of the market in 2021. This is still a hot market, and that is unlikely to change based on the past decade of strong real estate sales growth.   Tips for Buyers Narrow Down the Search to Get Started One method that is extremely effective for narrowing down your house hunt is “The Search Funnel.” A major struggle Buyers face when beginning to look through homes online is that there is almost too much to consider. Depending on your price point, criteria, and desired location, there are literally thousands of possibilities. It’s best to start with what matters the most to you. Focus on your criteria for a home based on your non-negotiables and adjust from there based on what’s available in your budget. It is generally recommended to start your house hunt with your top three homes.  Be wary of trying to see too many homes at once – you may start to get overwhelmed and it might leave you in a tizzy, not sure which house was which. Keeping the showings per day down and focusing on a few homes at a time will help us learn a lot about your likes and dislikes, and how to continue the hunt. Once you hone in on what you’re looking for, you’ll be able to pinpoint what’s right for you and jump on any contenders. To emphasize, adjust these recommendations based on your unique situation. If your budget is tight, you may be able to only get a few of your top wants. If that’s the case, focus on the non-negotiables and whether the issue can be solved with time or money. For example, if the kitchen is outdated, down the road you will be able to upgrade it. However, if you can’t bear the thought of living close to a highway, move on – you’ll never be able to move the home, although, you can always sell it!  😉   Tips for Sellers So Many Steps… How to Prepare Your Home Aside from any major renovations or planned upgrades to your home, there is a lot to consider getting your home up-to-par for successful showings. We recently compiled a checklist that can help you get going on the road to a quick home sale. Many homes sit on the market for longer than they need to, sometimes because of avoidable reasons. Maybe you forgot to clean a crucial area of your home or have hidden your clutter away in a not-so-hidden place. Follow the link below for an interactive checklist that can help you get your home ready for Buyer eyes. Click here to see and download list  

Check out all the fun going on in November!     November 6thto 8th: Denver Arts Week(end) “Experience Denver’s vibrant cultural scene during Denver Arts Week(end), November 6-8! Enjoy 100s of virtual and in-person events – safely – from music and museums, dance, visual arts and more!” More Info!             November 7thto 8th: Urban Holiday Market “This is a holiday shopping spectacular not to be missed, featuring an awesome selection of one of-a-kind seasonal items, high quality handcrafted goods, fabulous holiday gift ideas, delicious specialty foods, and more, made from a diverse collection of local artists and crafters. Enjoy an open air Holiday Festival in the heart of Downtown Denver. This unique holiday shopping experience will include live entertainment and a whole lot of family fun.” More Info!             November 7thto December 23rd: The Polar Express Train Rides “The Colorado Railroad Museum is pleased to announce a revised and updated show for THE POLAR EXPRESS™ Train Ride in 2020! Casting auditions have been held, and a whole host of carefully crafted updates have been made in order to ensure the health and safety of guests, cast and crew. Our revised and updated show will still bring you all your favorite characters and the Magic of THE POLAR EXPRESS™! Put on your pajamas and your most fashionable mask and bring the family to enjoy sharing hot cocoa and cookies together as the “Hot, Hot, Hot—Chocolate” song and dance unfolds before your eyes. Laugh and sing along with our cast as they tell stories and sing Christmas Carols and perform the story of The Polar Express live! Follow your Conductor through our enchanted railyard to meet Smokey and Steamer and learn, in song, how a steam locomotive works.” Tickets & More Info!       November 13thto 22nd: Denver Restaurant Week “Celebrate the local culinary scene during VISIT DENVER’s first fall Denver Restaurant Week EVER, November 13-22, 2020. Top restaurants will offer multi-course dinners for one of three tasty prices: $25, $35 or $45 per person. Dine-in, to-go and delivery options will be available!” More Info!         November 19thto 26th: Mile High United Way Turkey Trot “Our community needs us now more than ever. We hope you will join us this year at the 47th annual *virtual* Mile High United Way Turkey Trot so we can support our community and the critical work of Mile High United Way.” Registration & More Info!           November 20thto January 16th: Blossoms of Light “The Gardens’ signature event for more than three decades, this annual holiday lights extravaganza transforms our York Street location into a twinkling winter wonderland. Join us for this family-friendly event that has become a holiday tradition for thousands of Front Range families. Pre-purchased timed tickets and masks covering face and nose required. Available for purchase: Holiday treats, warm drinks and our souvenir reusable mug.” Tickets & More Info!       November 27th: Grand Illumination “On Friday, November 27, Downtown Denver’s major landmarks will light up for the holidays during the Grand Illumination. Hundreds of thousands of lights will illuminate Denver Union Station, the City and County Building, the 16th Street Mall, Skyline Park, the D&F Clock Tower, 14th Street, Larimer Square, and more.”         Have a great month and stay safe out there!

A Surge of Foreclosures and Short Sales? Unlikely. With all of the turbulence in the country right now, many are asking if we will experience a surge of foreclosures and short sales due to the COVID-19 recession. People have seen the number of mortgage delinquencies this year; they assume we are on the brink of a foreclosure crisis like back in 2008-2009 when people were losing their homes at an alarming rate. However, based on the available data, things are very different this time around. Forbearances in 2020 factor heavily into mortgage delinquency counts. These are people who voluntarily put their payments on pause and plan to catch up in 90 days, 6 months or even 12 months down the road once shutdowns have ended and things become closer to normal at work. These forbearances look to be 90+ days delinquent in the data. However, they are different than true delinquencies because these homeowners plan to, or have already, modified their loans to catch up over the long term. Of all the people that took a forbearance nationally, only 4% have had their payment holiday expire, could not re-start payments, and are now actively delinquent. Due to strong home appreciation in Colorado over the past decade, 95%+ of the locals of that 4% will have plenty of equity and should be able to sell their home without distress.   BUYERS Low Entry-Level Inventory Expected to Stay at Least Through Q1 of 2021 Despite a “V-shaped” recovery in the national markets since the COVID-19 crisis began in March, many are calling the current pattern more of a “K-shaped” recovery. This is because of the divergence in the strength of the recovery between people of different socioeconomic backgrounds. People with less education and income have been disproportionately affected by the latest recession, which has set back the home buying goals of many. If you are on the hunt for an entry-level home, condo, or townhome and qualify for financing, now may be the best time to act. The 2021 spring season is expected to be red hot as many people who had originally postponed the sale of their homes are expected to bring them to market after the election and winter. This should also put more buyers on the move who were trying to wait out the COVID-19 crisis. If you find a home you’re interested in, act quickly. Make strong offers and don’t expect sellers to give many concessions. In this market, sellers have most of the power in terms of negotiations. You don’t want to lose out in a bidding war because of petty details like paint colors or finishes. If you do get into a home, there should be plenty of time to paint and finish the home as you like. Focus more on big ticket health and safety concerns, as that’s most likely what other buyers will be limiting their requests to. If you are looking for a trade-up or more expensive home, now may be a great time to make the switch. Conforming mortgage interest rates (under $510K) are at record lows, and jumbo loan rates have also dropped a lot. Despite an expected 0.5% increase after the election (based on historical trends) the cards are still in your favor. The demand for your current home is probably sky-high, and there is generally more to choose from in the higher price points. This could be your golden opportunity!     SELLERS Fewer Sellers Are Willing to Drop Prices As the demand for homes continues to skyrocket and inventory continues to shrink in 2020, few sellers are accepting negotiations on price – and why would they? The main answer is overpricing. Be sure to do your research and rely on your agent to help you accurately price your home based on comparable homes in your neighborhood. The biggest reason people end up having to reduce the price of their home or have to accept lower-priced offers is because they get excited, ignore all of their agent’s warnings, list their home at a higher price than the market value, and then the home sits on the market too long. This is when price reductions begin. Buyers may begin to wonder, “What’s wrong with that house?” among other things. With such a strong market, don’t fall into this classic trap and potentially lose out on thousands of dollars because you wanted to push market value. Based on the current market trends in the Denver metro, you are likely to receive strong offers on your home if it’s priced at a fair value from the start. Average home prices are up again this year, and bidding wars may increase the sales price of your home up to where you wanted to price it anyway.