Dan Polimino's Blog

If you have been reading my columns these past months, you would know I have been talking about the Denver real estate market converting to a seller’s market. In keeping with that theme, I wanted to pass along some tips to frustrated buyers who are getting outbid for the homes that they want. There are some things that any buyer can do to put themselves in better position to win the home. Here are a few ideas:

1) The majority of buyers look at homes on weekends. So it’s no surprise that listing agents get multiple offers on weekends. If possible, try to look at homes in the middle of the week. If you can go and look at homes during the day when most people are at work, it would be even better. I understand you make an offer when you feel the time is right, but also understand that when you do it on the weekend or nights after work, there’s a good chance that someone else will be doing the same thing.

2) You must have your ducks in a row. Buyers must be prepared to pull the trigger and write a contract when they least expect it. That means that you must be pre-approved by a lender and have your lender letter ready to go with your offer. You must also have your earnest money deposited in your account so you can submit a check with your offer. Finally, you must be sure of your terms and timing so your agent can prepare an offer quickly and have it submitted.

3) Be prepared to go over the ‘asking price.’ I know that this is difficult to come to terms with, but yes, homes are selling again over the asking price. The key thing to remember is not to get caught up in the moment. Offer a reasonable amount over the asking price, because if you offer too much and are getting a loan, it may not appraise. If it doesn’t appraise for the purchase price, then you will be paying the difference between the appraised price and the purchase price as cash at closing.

4) You can use an escalating clause. This can be written in the additional provision, saying something to the effect that “the buyer would be willing to pay_____ (amount) over the highest written and signed offer.” The key here is to state the amount you would be willing to pay over the highest offer. The second key is to make sure that you are only paying higher than actual written and signed offers in possession of the listing agent.

Let me know how this works and happy house hunting.

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com  and www.coloradodreamhouse.com/denverpost

This week we are going to see Yelp reviews of Lush, located at 3000 E 1st Ave, Ste 203, Denver, CO 80206. Lush believe in making effective products from fresh, organic fruit and vegetables, the finest essential oils and safe synthetics. They invent their own products and fragrances. They make them fresh by hand using little or no preservative or packaging, using only vegetarian ingredients, and tell you when they were made. They believe in buying ingredients only from companies that do not commission tests on animals and in testing our products on humans. They believe their products are good value, that they should make a profit and that the customer is always right.

Few of the top reviews are given below:

Claire from Denver, CO says, “All natural cosmetics, soaps, sprays, creams Heaven!!! Or should I say Haven! You must go here to try their all natural ingredients in their products!!!! It will do wonders to your skin and strays away from harsh chemicals. Your skin will thank you. Refreshing, glowing, rejuvenated! Madu will thank you! I totally recommend two products to try: peppercorn soap, this soap is perfect for the cold winter months. Moisturizers and the cool part keeps you warm, the peppercorn warms your skin after a shower. It's amazing!!!!! Cool effect! -all the face toners esp "A Breath of Fresh Air" These toners keep your face glowing, provides a cleansing effect under your skin/make up, allows pores to breathe. Honestly, without this ingenious product, I'd dry up!!! My pores have minimized, acne has disappeared and skin glows. It's somewhat pricey, varies. Customer service is so helpful and willing to keep you up to date on what their products are about. Great gift ideas inside too. Even some of their creams are edible!!!”

Chris from Denver, CO says, “I came here with my Sister for a free facial and consultation.  It was awesome! I learned a lot about my skin and what different products will do to my face.  Leslie helped me through the whole process and was very friendly! They sell a bunch of Men's products that are all amazing. I recommend this place for any dude who wants to have silky smooth skin, while you are there get some education on how to care for your skin! They sell lot's of cleansers and soap by the weight so you don't have to spend a lot to get what you want. They are also very friendly with giving away samples of item you'd like to try on your own terms. Great Place! will be back for that shaving lotion.”

Get started searching for YOUR Colorado Dream Home.

This week’s column is dedicated to my brethren in real estate. I know that many of you read this column on a weekly basis. I know this because of your continued emails and phone calls, or in the course of doing business together. I am always flattered when a fellow agent contacts me to tell me how much they enjoy reading my column. I equally appreciate it when fellow agents contact me and tell me how much they disagree with what I write in my column. We may not agree on every topic I write, but I always humbly recognize your opinion and I appreciate you taking your time to write to me. More importantly, I appreciate you reading my column.

Recently in my new position, I have been speaking with a lot of agents about the state of their business. I heard from one colleague that had 26 properties under contract, another had 15, and yet another had 20. Even my fellow luxury agents are boasting the same type of numbers. My team, The Colorado Dream House Team, has enjoyed the same success this year and I think that we are poised to have our best year in the last five years. It seems as though as the song says, “Happy Days Are Here Again,” that real estate agents in Denver have reason to celebrate and I could not be more thrilled for all of you.

If you were able to weather the storm for the past four years after the worst real estate crash in the history of our nation, then you are to be applauded. I know it was not easy to keep a smile on your face, keep the lights on, put food on the table, and sell real estate in that environment. I know that many of you burned through your entire savings and retirement funds just to keep you and your family afloat. If you are still standing today and selling real estate, you are a success story. More importantly, if you are starting to reap the benefits of a better market, then you deserve every bit of it.

Jonathan Tisch is the Chairman of Loews Hotels and the author of three best-selling books on leadership. In his book “The Power of We,” Tisch talks about his philosophy that he never felt he had a competitor in the hotel business. Tisch never tried to compete against another hotel chain; instead, he tried to find a way to work with other hotel chains. His philosophy was, “There is enough business for everyone to succeed.” As such, no one was a competitor for Tisch; rather, everyone was an opportunity to work together and succeed.

I share the same philosophy and feel the same way about all of you. Congratulations to you and your business. I look forward to partnering with you in the future.

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com  and www.coloradodreamhouse.com/denverpost

Chances are, if you own a business or you were ever an employee, you may have been asked to take a personality assessment. As an owner of Keller Williams Realty DTC and a partner of The Colorado Dream House Team, we often have the new recruits take a D.I.S.C. (Dominance, Influence, Steadiness, Conscientiousness) assessment test. It‘s a quick personality test that will tell me a lot about how someone communicates. I also get to know their likes, dislikes, and how I might relate to him or her.

After a short series of questions, the test is scored and an individual will come out either a “D,” an “I,” an “S,” or a “C.” However, it is more likely to result in a combination of two, three, or four of the personality traits. In most cases, a person tests to be dominant in one category more than another. Here is what each letter represents:

* Dominance: Direct to the point, decisive, and bottom line oriented.

* Influence: Optimistic and outgoing, often highly social.  

* Steadiness: Empathetic and cooperative. Typically a team player; supportive, and helpful to others 

* Conscientiousness: Concerned, cautious, and correct. These individuals are often focused on details and quality.

When I took the test, I came out as a “High D” with some “C’s” on it. If you would ask my friends, I am all “D” with no “I,” “S,” or “C” in my gene pool. For the most part, that’s accurate and reflects my personality since I am a very bottom line type of guy. So how does this apply or matter to people buying and selling homes?

We often talk about consumers making sure that they should have a good rapport with the agent they selected to represent them. My business partner Gary Lohrman and I often joke with costumers saying, “If you want a short and to the point conversation, then call Dan. If you want to talk about your day, the kids, or even the weather, then call Gary.” You see, Gary is a “High I.” He loves being social and that’s his DNA. In fact, if we could give each one of our customer a D.I.S.C test, we would. I am sure it would be an easier transaction for everyone because we would be able to match up the seller or buyer that best fits with either my personality or Gary’s.

I know that this is not a “change the real estate market” kind of news, but it does give us great insight on how to relate to buyers and sellers so everyone has a pleasant experience. If you are a “High I” and have an agent that is a “High D,” chances are, the two of you are having a tough time communicating.

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.comand www.coloradodreamhouse.com/denverpost

As always, accurate information is critical to help you manage your finances. While we all know the importance of a good credit score, the many factors that determine a good credit score are often not understandable to the average consumer. When questions come up about what happens when a person gets married or divorced, I see a lot of myths and inaccurate information.

The experts at Advantage credit have done a great job addressing this subject. The best explanation I have seen on this is at http://www.advcredit.com/ under Yours, Mine and Ours: Marriage, divorce and credit.

Your questions and comments are always welcome.

Chip Allen

Crestline Mortgage Bankers

A Division of Universal Lending Corp                                   

Direct: 303.947.2109

Fax: 303.987.0676

Loanchip@hotmail.com

Colorado Mortgage Broker License # 100019831

NMLS# 378621

Your Lender for Life!

When people you care about need a mortgage,

for purchase or refinance, please do not keep me a secret. 

Since the real estate market crashed in 2008, the best position to be in would have been a buyer’s agent. After all, for the last five years, buyers have been in the driver’s seat in Denver. They had the low interest rates, low prices, and plenty of choices in homes. Since there were so few of them, they could name their price and get it. In essence, they had all the power while the sellers had none, and boy did the sellers feel it.

Fast-forward to present day and it’s a whole new world in Denver. Being a buyer’s agent in Colorado is not much fun right now. If you are currently a real estate agent, you know what I am talking about. It’s getting pretty hard to get a home under contract for the buyers that you are representing. At least 7 out of the last 10 buyers I had been working with got into multiple offer scenarios. The majority of homes we were trying to buy are getting two, three, or more offers at the same time. In the lower price ranges (300K and below) some sellers are getting higher than asking price and buyers are getting frustrated. It’s not like the buyer can just move on to their second choice, because there is no second choice. There are so few homes on the market with more buyers everyday it’s becomes a bidding war.

I looked at the stats from Metrolist for March 2011 versus March 2012. Two things jumped off the page: Firstly, inventory across the board for all price ranges was down 53.4 percent from March 2011; Secondly, when you look at how many “month’s supply of homes” it fell down from 8.7 to 3.4. It’s a competitive market.

For most of my career, I have been known as a seller’s agent. My business partner Gary Lohrman and I usually represent 25-45 sellers at a time. We can easily handle these many properties because we have seven people on our team so the news above is music to our ears. What it means to us is that for the first time in five years as a seller’s agent, we are finally on the right side of the equation. There’s no more getting beat up by buyers and their agents. These days, we manage the multiple offers for our sellers and we get them the highest price possible. In some cases as I mentioned, we get over the asking price.

I have been waiting to say this for five years. I know some people are afraid to say it and still others disagree, but I am going to say it anyway… ”IT’S NOW A SELLER’S MARKET in some of the price ranges!”

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com  and www.coloradodreamhouse.com/denverpost

This week we are going to see Yelp reviews of Cherry Cricket, located at 2641 E 2nd Ave., Denver, CO 80206. The term “legendary” is overused these days. But the Cherry Cricket lives up to the lofty classification and the revered reputation it holds as a bastion of classic neighborhood-bar culture. The Cherry Cricket’s clientele includes working stiffs, old schoolers and shoppers taking a break from chic hunting. It also welcomes a younger crowd, business lunchers, and families who savor the aforementioned “legendary” status of the Cricket.

Few of the top reviews are given below:

Ericka from Denver, CO says, “Love this place. Good food, great service, and lots of variety. Also, the restaurant knows how to move people in and out, so even if there is a line..it goes fast.”

Michelle from Aurora, CO says, “Just what I wanted. Eating no bread for a week and pretty much just salads I wanted a juicy burger. That's exactly what I got and medium rare with bacon and green chili strips. Yum. Great fries to boot. Place was crowded but the wait was not too long. No wonder this has been a Cherry Creek favorite for as long as it has. With all the new and fancy burger places this is one of my favorites.”

Victoria from Colorado Springs, CO says, “Probably one of the best (non-fast food) burgers I've ever had. The meat was juicy, flavorful and cooked to perfection. I had mine topped with Swiss, mushrooms, grilled onions and avocado. I stole some of my boyfriend's jalapenos later since they were pretty mild. It was one of those situations where you are full but you keep eating because it's that good! I ordered onion rings which were tasty as well. The service was cordial and fast. The building doesn't match the surroundings (JW Marriott, Hermes down the street) but that just adds to its charm. If you have time, go across the street to the Cherry Creek Mall and work up your appetite. You'll want to finish your burger! I would definitely recommend coming here if you want a great burger. Adam Richman (Man vs Food)  did good on this one...Guy Fieri (Diner's Drive Ins and Dives) is still on my $H^% list! =)”

Get started searching for YOUR Colorado Dream Home.