PAUL'S REAL ESTATE MARKET NEWSLETTER – JULY 2015
Welcome to the July edition of the 2015 Denver Real Estate Market Newsletter.
Give Your Tree A Hug!
Speaking in general terms, there are three characteristics affecting a home’s value: location, condition and physical features. Physical features include: type of construction, amount of living space (square footage), number of bedrooms, improvements, upgrades, and landscaping.
The quality and condition of the property’s landscaping does affect the overall value of the home. Unfortunately, little attention is given to tree health. Colorado’s Front Range is a harsh environment and our trees are exposed to limited rainfall, extended droughts, extreme temperature swings, unseasonal blizzards, high winds, frequent hail, poor soil conditions, insects, and diseases. It’s no wonder Denver was a grassy prairie before settlers transformed the landscape.
Last week I met with my arborist from the Davey Tree Expert Company, seeking tips for tree care:
- TIP NO. 1 – TREAT FOR INSECTS: Insects such as aphids, beetles, and borers are commonly found in Denver and cause stress and can kill trees. Your local arborist can identify potential threats and recommend preventive treatments.
- TIP NO. 2 – REMOVE GRASS AROUND TREES: Remove grass and install mulch. Grasses steal water and nutrients needed by the tree.
- TIP NO. 3 – DEEP ROOT WATERING: Proper watering ensures a healthy root system. As a rule of thumb, trees need to be watered three times per month throughout the summer with 10 gallons of water per inch of trunk diameter. A soaker hose or soil needle (also known as a deep root feeder) works best to deliver water to the root zone.
- TIP NO. 4 – FERTILIZE: According to Davey Tree’s website, their slow release tree fertilizer:
- Replaces nutrients
- Improves resistance to damage from insects and stressful weather
- Helps to expand the root system for better anchorage
- Improves overall tree health
- TIP NO. 5 – TRIM AND PRUNE: Important for a number of reasons:
- Removes dead or dying branches that may fall and also allows the tree to focus its energy on new growth.
- Enhances air flow through the tree which reduces risk of damage from high winds.
- Removes structurally weakened branches and thins tree mass to improve resistance to late spring and early fall blizzards.
- Maintains a pleasing shape and appearance. I’ve noticed trees in my neighborhood with branches so low, the house is not visible from the street. While the privacy from the street is nice, low branches don’t do much to improve the home’s street appeal. When my clients are preparing their homes for sale, I encourage them to cut low-hanging branches. Unfortunately, there is a limit as to how much mass can be removed without stressing or killing the tree.
In addition to all of the existing threats to Denver’s trees, there is a new threat on the horizon, the Emerald Ash Borer (EAB). This ash-tree-destroying pest was first identified in the United States in 2002 and has already been detected in Boulder County. With 1.45 million ash trees in the Denver metro area, our forests may be forever changed. Since the EAB hasn’t yet been spotted in the Denver metro area, there is nothing we can do now. However, once found, I strongly encourage you to consult with your local arborist to develop a prevention plan. Visit the Colorado Department of Agriculture’s website which tracks the spread of the EAB.
After meeting with my Davey Tree arborist, my takeaway is the importance of prevention to ensure the health of our trees. If you are waiting until the tree begins to show signs of stress before calling an arborist, it may be too late to save the tree. I’ve lived in my neighborhood for nearly 17 years and have watched little saplings grow into 30’ tall monsters. If any of the trees on my property do die, no matter the reason, I’ll be an old man before the replacement tree can grow to the current size of my trees. Protecting my trees is just as important as protecting the structure of my home. As the saying goes, “an ounce of prevention is worth a pound of cure.”
Real Estate Highlights for June 2015
- Single Family Detached homes units sold: Up .6% from last year at this time (4070 units)
- Average Sold price on SFD’s: up 12.2% from last year at this time ($421,061)
- Days on market for SFD’s: 19.4 days for June 2015
- Condo/Townhome sales: Up 11.6% from last year at this time (10.2%)
- Average Sold price for Condo/Townhome: up 13.7% from last year at this time ($258,460)
- Days on market for Condo/Townhome: 13 days for June 2015
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June 2015 Real Estate Market Trends
Denver Real Estate Market Trends
Real Estate News
Denver leads nation in rising home prices, average days on market, and lowest inventory of homes for sale Read More
Active listings in metro Denver down 20% compared to last year Read More
Half of all Denver’s new listings of homes for sale sell in six days or less Read More
7 Foolish mistakes that people make when house hunting Read More
7 Exterior home improvements that increase resale value Read More
Colorado is 28th nationally in number of foreclosures Read More
CO venture capital investment nearly triple in Q2; best second quarter in 14 years Read More
Denver rents up more than 10 percent in past year Read More
Lockheed Martin Space creates satellite R&D lab, bringing new jobs to Colorado Read More
Denver rated No. 1 in U.S. for economic success; 3 other Colorado cities in top 20 Read More
Denver No. 3 in retail spending nationwide for June Read More
15.4 million visitors to Denver area in 2014 spent $4.6 billion, a new record Read More
Metro Denver on track to be largest employment center for Charles Schwab Corp. Read More
Colorado leads the nation in telecommuting Read More
Colorado is among the top 10 states for … well, everything Read More
9 Colorado companies make the Fortune 500 list Read More
Colorado millennials outnumber Baby Boomers for first time Read More
Denver Broncos 26th among the world’s most valuable teams Read More
CU-Boulder to host Republican presidential debate on the economy in October Read More
Denver electricity use on the rise; pot-growing partly to blame Read More
Lockheed Martin Space Systems unveils test lab for NASA’s Orion spaceship (Slideshow) (Video) See More
Elitch Gardens sold to investor group that includes Kroenke; planning millions in upgrades Read More
Shepler’s Western Wear to be sold to a California based company Read More
Big expansion planned at Denver’s Colorado Center off of I-25 Read More
THANK YOU FOR YOUR BUSINESS AND REFERRALS!
If you or someone you know is thinking about buying or selling a home, please let me know. It would be my pleasure to work with you or your referral. My commitment to my clients is to treat them with the utmost care as they work towards buying or selling a home. Referrals are the core of my business and are always appreciated.
Please call me with your real estate questions. I’m always happy to help you navigate through this constantly changing real estate market!