Peak Realty Real Estate Blog 

On the right, you'll find links to articles and videos on a variety of topics...some posts have specific information about real estate, and other articles cover material we just find interesting!  

Feel free to explore all information on this website! When you have any questions about selling or buying a home, feel free to contact us at your convenience.  Whatever your situation or reason for buying or selling, please know that we're here to help you get from point A - point B, have fun with the process and keep you informed at every stage!  

Call, email or text us...we're happy to talk WITH you about your specific situation, and do whatever we can to help you achieve your goals.

Cheers,

Keelan McCamey, CEO/Owner/Realtor
The McCamey Group
Peak Realty
keelan@co-homesforsale.com
303-709-8778

Oct. 23, 2015

TRID and CFPB - A Discussion with NOVA Home Loans

Sept. 18, 2015

11846 Wyandot Circle in Westminster, CO

      

Enjoy pristine mountain views from your new home in The Ranch's coveted golf community! Open and bright with vaulted ceilings, skylights, and flowing layout. Updated eat-in kitchen boasts stylish cabinets, quartz counter tops, and stainless steel double-oven. Kitchen opens to living room that features updated tile fireplace and includes the wall-mounted flat screen TV. Huge master bedroom with custom French doors accessing double-vanity master bath and walk-in closet. Two additional large bedrooms, a full bath, and airy loft complete the upstairs. Main floor laundry/mud room conveniently located off garage entry with front loading washer and dryer. Plenty of space out back for entertaining with a wooden play structure, walk-out basement patio, and newer fence. Easy access to the adjacent greenbelt and a short stroll to the community park, playground, The Ranch Country Club, and the golf course. Great location with easy access to shops, restaurants, and I-25. Includes a Home Warranty.

Contact me at Jen@co-homesforsale.com for more information!

Posted in Featured Listing
July 8, 2015

Buying a Home, Made Simple

 

Episode 1: Knowing When You're Ready

 

Episode 2: Mortgage Lending 101

 

Episode 3: The Search 

 

Episode 4: The Offer 

 

 Episode 5: Closing The Sale

 

 

Posted in Buyer Information
July 8, 2015

Is Denver in a housing bubble?

To Worry or Not to Worry about the Denver metro Real Estate Market? That is the Question.

At least once a week, my clients ask me if they "need to worry about a housing bubble?" I think this question is likely to pop up more and more as appreciation skyrockets in our market.  

Earlier this year I went to an Economic Summit meeting "2015 Economic Trends," put on by DMAR, and learned some specifics about our local economy and real estate market. Based on what I learned, here is why I don't think we are facing a bubble in Denver. Some key points:

  • Unemployment nationally is down to 5.5%
  • Metro Denver is around 4%
  • Job Growth Nationally is around 2% nationally, 3% Metro Denver

Industry clusters in Denver (not real estate driven/heavy):

  1. Aerospace
  2. Aviation
  3. Bioscience
  4. Broadcasting/Communications
  5. Energy
  6. Financial Services
  7. Healthcare/Wellness
  8. IT/Software
  • We have exceptionally low unemployment in Denver; we are the 8th lowest in the Country
  • Denver is "business friendly," and rates "exceptional" in this category
  • Denver's residential rental rates increased 7.9% in the last year. It is currently more expensive to rent than it is to buy
  • Denver has an INCREDIBLY high immigration rate which means a ton of people are moving to Denver every day, and not many are leaving. This is likely the largest indicator that it is not a bubble, but more driven on people who want to reside in Denver for reasons such as sunshine, low unemployment, high millennial population, mountains, energy, fracking, wellness, and let's face it, marijuana.
  • It is obvious that Denver is getting increasingly more expensive by the day, and the low inventory in our housing economy is a huge contributor toward that. My personal feeling after listening to this presentation is that although the low inventory is pushing prices up quickly, the demand does not appear as though it is going to decrease anytime soon as people want to live here. We have run out of space, and builders cannot build fast enough to keep up. Denver is becoming a high cost area where the average median-priced home is around $300K, which is topping the National chart.

Quote of the Day:

  "Do what you can, with what you have, where you are."

-Theodore Roosevelt

Posted in Market Moment
Feb. 21, 2015

Scaling A Business = Caring More, Not Less

How does an effective business scale its operations without sacrificing quality of service? I ask myself this question all the time, in part because I continually dream of having a very big business someday (and thus a big life), while at the same time improving the company's brand and the lives of all in the business...that's the goal, anyway.

In the real estate business, customer service is THE most important aspect of building a trusted referral base of customers over time. This is pretty obvious...so, how do we as real estate professionals "scale" caring? Is this even possible, the busier we get year after year? How do we deliver better service to more clients over time, without sacrificing quality? To me, the answer rests in a few key areas:

  1. Hire Talented People (to foster a learning-based and high-performing culture)
  2. Have Systems in Place That Focus on the Client (technology that offers convenience)
  3. Deliver As Much Service As Possible (old-fashioned connections with clients are the life-blood of the business)

1. Hiring Good People Means That the Company is Growing in All Ways...Always

What constitutes a professional is someone who not only operates at a high level in their chosen field, they also have the ability to continually learn new things in a changing, complex environment. The ability to learn, adapt, communicate and implement new things is what a growing an organization needs to flourish. The business, and its people, are in a constant state of motion. The real deal is whether the the agent is making things happen, or things are happening to the agent...it's their choice.

No matter how "good" our agents may be at Peak Realty, we know that clients are loyal to our standards and not necessarily to us (pls read that again!). This is reality and it's the way it should be...this fact keeps us on our toes and our egos in check. As professionals, we're life-long learners and often humbled as we continue to grow our skillset.

The mindset of our agents is always "how do I get better" in all facets of the business. In my industry, real talent usually presents itself as curious and highly intelligent...someone who's always learning and implementing new skills, usually on the spot. At Peak Realty, agents are often empowered and tend to reach beyond their comfort zone because they're operating in a 100% supportive environment where they can ask questions and learn from others.

A funny thing happens when professionals specialize and become life-long students of their craft: client satisfaction goes through the roof, and we produce some of industry's top thought leaders.

 

2. Have Systems in Place That Allow for More Clients to Be Served

To some, scaling business operations sounds more like chasing profits rather than focusing on customer service. Nothing could be further from the truth. To me, a business that is set up to efficiently scale its operations has likely answered many of the toughest questions a business must face in order to improve every aspect of its operations.

Some questions that keep me up at night:

How can we deliver the same level of service through a team approach? How can we "scale" caring to a large extent with technology and the internet? How do we show we care at every step of client cycle, in addition to providing market knowledge to our clients? How do we help our clients make the best decisions possible, at the same time make them feel good about the service we offer? Is it okay to provide "just enough" service at times, or do we go above & beyond for all? If so, to what extent and what does this look like with a client of 20 years?...of 40 years?...a life-long client?

The answers to these questions point back to the good, old-fashioned "Golden Rule", yet at the same time we know that the next generation of buyers and sellers want access to information at an unprecedented level. Social media sharing and various apps allow us to scale caring and connect with our clients in numerous ways, yet we're exploring new ways of reaching and connecting with new folks all the time..

Think about amazon.com for a moment. Its customer service is largely automated and provides a means for online reviews and suggestions, based on a user's searches and purchases. Small businesses now have access to these types of tools now (we use InfusionSoft to deliver educational and helpful content to our clients, based on their desire for certain content, as well as their click patterns, etc.). This new form of caring helps to build brand and gain social proof on a mass scale, yet more importantly we get to share content we believe in, which is more important to us...we CARE and we'd rather have a small group of clients who know this. We also BELIEVE in our values so much that we're prepared for our business to grow organically, if/when we attract like-minded consumers to our real estate operation through our shared content.

Our clients are the reason we toil everyday. Without them, the business wouldn't exist. As such, we want the value we offer to be timely, relevant, and automatic if need-be, to satisfy our client's desire for new and fresh content. In practice, we're becoming something more than a real estate company...we're becoming an online media company that happens to do real estate at a high level. 


3. Deliver the Highest Level of Service (and as Much Service) As Possible...Don't Be Selfish!

So...why have good systems in place? Because a business and its employees can deliver exceptional service to MORE people when a strong foundation is in place for a team to fire on all cylinders. Systems that support a culture of caring, a high quality environment, a flat organizational structure, strong leadership and top-notch training help Peak Realty associates achieve more, plain & simple.

Our culture supports serving as many clients as we can...we're not selfish! It doesn't matter if we have 3 agents or 50 agents, our systems and administrative team continue to adapt to support the various levels of the team's growth (someday soon, I need to write a 2nd article on Agent Expansion into new markets, and how our team's administrative and lead gen hub develops at each stage of growth). The bottom line: our agents quickly learn how to leverage these systems to gain back their time and serve more clients at the highest level possible. 

*There's obviously much more to talk about when it comes to scaling a business. If you're already in real estate or have considered a career in real estate, feel free to call me directly at: 303-709-8778. I'd be happy to talk with you about what Peak Realty and The McCamey Group have to offer.

Sincerely,
Keelan McCamey, Realtor, MBA, CDPE
The McCamey Group w/
Peak Realty
info@peakrealtyhomes.com
303-709-8778

 

Posted in Agent Training
Dec. 26, 2014

2452 McKay Landing Parkway in Broomfield, CO

3 Bedroom in McKay Landing with 2572 sq. ft. home for under 500K

2452 McKay Landing Pkwy Front

2452 McKay Landing Parkway Living Room 2452 McKay Landing Parkway Office 

2452 McKay Landing Parkway Kitchen 2452 McKay Landing Parkway Family Room

2452 McKay Landing Parkway Master Bedroom 2452 McKay Landing Parkway Master Bath

 

3 Bed | 2.5 Bath | 2,572 Finished Sq. Ft. | $415,000

2542 McKay Landing Pkwy
Broomfield, CO 80023

Beautifully updated 2 Story Home with open concept kitchen and family room. Formal living and dining areas, large main floor office with french doors, expansive master suite with 5 piece master bath and walk-in closet. Newly painted exterior and interior, gorgeous new travertine tile, brand new carpet and vaulted ceilings. Oversize 2-car garage, largest yard in McKay Landing newly graded/landscaped, welcoming covered front porch, adjacent to lake, open space. Close to schools and shopping. Over $30K of upgrades within the past year!  This is home is gorgeous! 

Listing School Information

Elementary School: Meridian

Middle School: Westlake

High School: Legacy

 

 

 

 

Posted in Featured Listing
Dec. 1, 2013

Short Sale Primer - This is ONLY a brief Overview!

FHA Short Sales

Obviously there's lots to learn about short sales, and I'm not going to go into great detail here...just an obscenely brief overview (and I mean brief).  Here are a few realities you may want to consider:



First:  Find an agent who knows how these short sales are done; namely, they've done short sales in the past.  The agent herself doesn't necessarily need to know every single detail of how to do these sales, yet the agent should at the very least partner with a short sale transaction company to assist them in dealing with the bank if the agent doesn't know all of the steps in the process or what forms to use. There are several reasons for this, not the least that an agent should never act outside of their area of expertise, period.


Second:  Submit the short sale paperwork to the bank, to see if you (seller) even qualify for a short sale.  I'm actually getting ahead of myself with this statement...if it's a non-FHA deal, you'll need to contact your bank and let them know that in the very near future you won't be able to make payments.  To qualify for a short sale, there has to be a negative event that is causing a significant change from the time you got the loan to the present that precludes you from making your mortgage payments in the future. For example, divorce is NOT a good reason to qualify for a short sale, yet the resulting income loss that may be experienced from a such a situation may be a realistic reason for a bank to deem a seller qualified for a short sale (the divorce itself is not a qualifying factor). For a list of qualified factors, consult an experienced short sale agent.

There are several steps your bank will go through to determine whether or not you qualify, and the agent and/or short sale transaction coordinator can walk you through creating the short sale package that you'll eventually have to submit to the bank.  Without getting too far into the specific reasons that may qualify you for a short sale (ex. job loss, forced job relocation, etc.), just know that it's not a guarantee that you'll qualify for a short sale and must have verifiable proof of your situation to submit to the bank. The bank will go through it's internal process of seeing if you qualify for a refinancing or some other workout arrangement first, or they may disallow the short sale for some particular reason. 

The short sale package you ultimately submit to the bank includes all kinds of items such as a financial worksheet, bank statements, a hardship letter describing your situation, and forms to allow your agent to communicate directly with the bank...it's quite the little package to put together, and banks are a little different as far as what they require for their short sale packages.  A good agent and their short sale coordinator can help you prepare this paperwork and let you know what to expect at each step. 

Depending on the bank as well as the type of short sale you have to deal with (examples include FHA loan, Conventional loan, Conventional loan with both a 1st & 2nd lien on the property, or perhaps a loan with a large bank like Bank of America offering special incentives or government invcentive programs). Whoever the bank is, an experienced short sale agent should be able to give you a feel for how different banks handle short sales, and offer you a few referrals for tax advice (CPA) and legal matters (lawyer who specializes in short sales is preferred).  There are tax consequences with a short sale, and these facts are best known upfront going into the deal. Also, certain deficiency obligations may or may not be waived by banks for certain short sales, and talking with a lawyer is wise.  A good agent will always try to get the bank to waive the borrower's deficiency, and some banks may waive the deficiency entirely...lately, this has not been the case.  Unfortunately, there's no boiler plate formula with doing a short sale to know all the answers, yet at the very least your agent should have good referral partners for a lawyer and accountant to answer all of your financial & legal questions.

Third:  Let's say that 3 months after submitting your short sale package, you get approved to do a short sale. At this point in time, the property may or may not have been listed for sale depending on the type of short sale (ex. FHA short sales typically are NOT listed for sale to the public until after they've been approved by HUD and have had an appraisal) and depending whether or not the seller (you) are current on payments.  It's advisable to talk to an agent to see whether or not you'll need to list the home asap, or wait a bit. It's better to contact an agent and your bank EARLY , before you begin missing any payments; this way, you potentially have more options with marketing the property to buyers.  For a conventional loan short sale it's okay to go ahead and list the property for sale immediately and submit the short sale paperwork at the same time the property is listed.  If there are two liens on the property, you'll have to submit two separate short sale packages.  Depending on which lien holder is going to be "short", there are different approaches to getting approvals from both banks to keep the deal alive.

As far as selling the home goes, the agent markets the property the same way he or she does for a 'normal' sale, yet discloses to the public that it's a short sale "subject to third party approval".  This basically means that the home can go under contract yet still must be approved by the bank in order to actually close and be sold to the buyer.


Fourth The holy grail is getting a short sale approval from the bank to sell the home at a loss to the bank, and it's what everyone (buyer & seller) are typically waiting several months to receive.  Assuming the parties are able to close the deal before the foreclosure sale date and/or the agent is able to postpose the auction sale date with the bank if necessary, the parties will go to closing.  In Colorado, we close "at the table" most of the time and both parties are usually at closing.  If we do what's called a "mail-out" then the seller receives documents at their desired location, signs everything in front a notary and then the seller closing documents are mailed back to title and the buyer shows up to closing.  There are lots of ways to close, yet if the seller has already moved out of the house for an acceptable reason, it may only be the buyer, the closer and the agents at the closing!


Conclusion:  There's so much more to discuss surrounding short sales.  If you or someone you know is upside down on their house, feel free to contact me to discuss all options:  303-709-8778.

 

Thank you!

Keelan McCamey, MBA, Realtor, CDPE