August 28, 2024 • 27 mins
Discover the secrets to navigating the challenging real estate market with expert insights from Dawn Green, a seasoned realtor with nine years at eXp Realty and a solid background in mortgage underwriting. We shed light on the unique conditions currently shaping the Denver metro area, where high housing prices, low inventory, and fluctuating interest rates are the norm. Dawn offers invaluable advice on both residential and commercial markets, revealing the growing opportunities in commercial leasing and investment, particularly in office buildings and multi-units, as demand for office space resurges post-COVID.
The commercial real estate market comes under the spotlight as we explore sectors like apartment complexes, warehousing, and land development. Hear about the potential returns on investments in man caves and storage units, and why now might be the perfect time to lease office space. Dawn explains how eXp Realty's global network and innovative model provide distinct advantages to clients. We underscore the necessity of having professional representation in real estate transactions, comparing it to having legal representation in court to ensure you're treated fairly and can negotiate effectively.
For those looking to sell or buy a home, this episode is packed with practical advice. Learn how to prepare your home to attract today's discerning buyers with move-in-ready properties and strategic updates funded through equity loans. We discuss the impact of fluctuating interest rates and explore strategies for traditional buyers to compete successfully against investors. Dawn shares her insights on financial programs for first-time buyers and the potential for downsizing and reverse mortgages for older homeowners. This episode reinforces the belief that everyone deserves the opportunity for homeownership and highlights the benefits of real estate investment for building a financial legacy. Tune in to gain expert insights and practical advice on navigating the ever-changing real estate market.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:17):
Hey, welcome, welcome , welcome to another edition of
the Mile High Real EstateSpotlight Contest, where we get
to spotlight local real estateagents who are doing, or
realtors that are doing, someamazing things in the community.
We you know this has been.
We are now in August of 2024.
(00:39):
In August of 2024, wheneveryou're watching this, you might
be watching this in 25 orsomething like that, but
realizing where we are, becausewe're in this pivotal point in
our country where we're tryingto figure out or or what is
going on with our markets.
Because when you start thinkingabout you know typical markets
that maybe say some people say,well, it's a buyer's market or
(01:01):
it's a seller's market, or it'sa market for everybody.
Our last year hasn't been anyof those, our last year hasn't.
You know, usually when it's abuyer's market, then the house
prices of houses have gone downand the buyers get to pick and
they get to negotiate a price.
And if you say it's a seller'smarket, then you know the prices
are what?
(01:25):
Inventory is real low and we'retrying to find buyers for every
houses and there's a biddingwar that's going on.
Well, here in Denver metro areait has been over the last year
where the housing prices havestayed up and the inventory has
stayed low and the interestrates have been up, stayed low
(01:47):
and the interest rates have beenup and the amount of people
trying to figure out how they'regoing to buy a home and afford
a home has gone down.
And there's a market where,when we think of incomes where
people can afford houses andbuying their first homes, well,
those houses aren't hardly there.
And then you find this plethoraof inventory of houses that are
are for high end folks thatprobably can't afford a lot of
them, especially with theinterest rate that's up.
(02:09):
So it has just been one ofthose interesting years.
And so we are now, just in thelast few weeks, we're realizing,
hey, we don't want to go into arecession.
So we got the feds talking aboutlowering interest rates and you
know I'm on the the lendingside, so that hasn't happened.
Yet they're saying at theseptember meeting we're going to
go ahead and lower it.
Then everybody can get excited.
(02:29):
But interest rates are moving alittle bit and they are coming
down and so, uh, I I would say,through all of that, it's always
a good time to buy.
It's always a good time to makean investment, because if you
look at the history of realestate and you look at the
history of time, at, at least inAmerica, since it was popular
to buy houses, which is in the1900s, right All the way until
(02:49):
now, the average has been thatyou're going to have an increase
in appreciation in the housethat you buy, and so I'm excited
that you're on today.
I'm excited that you're here.
You have weathered the storm.
You're still here, which is youknow.
There's several people thatI've done podcasts with that are
(03:10):
no longer in the business, thatare no longer out there making
it happen.
And then those warriors that areout there, like yourself, are
doing what they need to do andthey're helping people, which is
super important.
So what I'd love for you to dofirst is just kind of maybe you
can tell us how to get ahold ofyou your emails and social media
and phone numbers, whateverthat is and then we'll kind of
(03:31):
go into talking a little bitabout what got you into this
industry, a little bit aboutyour story and you don't have to
start your story when you weretwo years old, but you can, if
you want and then just kind ofmove forward into what you're
doing now.
So thank you for being on theshow.
Speaker 2 (03:44):
No, thank you very much.
My name is Dawn Green.
I've been a realtor for nineyears.
I'm with eXp Realty right now.
My phone number is 303-503-2650.
You can look me up as DawnGreen sells Denver, colorado.
Nine years in the business.
I used to be a mortgageunderwriter before.
(04:04):
So I've been in the mortgagebusiness for 20 years before
this.
So I know the ins and outs ofthat world Still do to this day.
I try to keep up with it asmuch as possible.
I do residential, I docommercial real estate as well.
I've been dabbling quite a bitin the past year growing that
(04:25):
side of it.
So that's me in the nutshell.
Speaker 1 (04:31):
Thank you.
Thank you for sharing that.
The commercial side why don'twe start out with the commercial
side and kind of talk what doyou like best about commercial
and what are some of theadvantages that people can take
with them?
Because I think a lot of whatwe do we talk about the
residential all the time, but Iknow there's some advantages to
being able to do commercial andknow about commercial and folks
(04:54):
that are wanting to start stuff.
What would you say to thosefolks?
Speaker 2 (04:58):
Well, commercial is a good investment if you're
looking to invest into a certainindustry.
There's plenty of land, there'soffice buildings.
I do some leasing as well andright now leasing is pretty big
right now.
So I know, back in COVIDeverybody left the office but
(05:21):
it's actually getting better,the office, but it's actually
getting better.
So the market is great forleasing.
It's if anybody wants to getback into doing something.
It's a lot of negotiation.
We just closed on a big dealwith some other realtors that we
did and we were got a lot ofperks for them so many of them.
So I mean it's a good area.
(05:42):
But I think investing is greatIf you are ready to invest.
There's multi-units to investin as well.
A lot of people can do that.
That is part, you know, fourplex or more is more of the
commercial side of it.
Speaker 1 (05:58):
So yeah, so, as most of the commercial, when I think
about commercial there'sdifferent areas.
I think of commercial.
I think, like you said, thebigger complexes, the apartment
complexes where people actuallylive.
Then I think of like officespaces, where that I think is
you can tell me a little bitabout office spaces working.
(06:20):
And then I think of likewarehousing and the last few
people that I've talked to aboutthat are saying that a lot of
people manufacturing starting tocome back to the US.
We're starting to hold stuff inthe US because of all the
container issues and stuff thatwe had.
You know, I drive down the 70freeway and I keep seeing more
and more of these huge like youknow?
Speaker 2 (06:40):
Oh, I mean, those are all Amazon, most of them.
Speaker 1 (06:42):
Yeah, exactly, amazon keeps putting them in and then
you go out by the airport andthey're putting a lot of
commercial space in.
They are what is like, is therea niche of part that you're in
or is it just?
You know anything that dealswith like land and what are
people getting into right now?
Speaker 2 (06:59):
Well, a lot of land actually, because then they can
build on it.
You know doing, you know thosegarage dens or doing those
garage spaces actually make alot of money.
You know, like a man caves,those are actually very
profitable, even your storageunits.
If you can buy land and thenput storage units on it, you're
(07:20):
going to make a lot of moneybecause that's where the money
is currently.
So that's what I would do.
Warehousing is a great tool toget into as well, but then you
have to get those tenants to getthat section, because you can
break it up into warehousing.
You can have different areas,you know, maybe multi areas, but
(07:40):
unfortunately that's a littlebit harder.
So I usually stick to the lowerend of commercial currently.
So the commercial office space,commercial leasing.
We do have a commercialbuilding currently for sale.
We have a land that we're acommercial land that we're just
closing this week.
So you know there's a lot ofopportunities out there for
(08:02):
people.
Speaker 1 (08:03):
Are people still now after COVID and people all
started working from home andnow people are starting to come
back into buildings and officesagain?
Is there a big demand foroffice space and finding ways
right now, or is it still whereyou just go like downtown and
you're like there's a ton ofoffice space?
Speaker 2 (08:21):
Oh, there's so many out there and if you want to get
into it, definitely get into itnow, before you're going to
have a problem.
Just like a residential samething Interest rates drop,
buyers are going to have aharder time to buy.
You need to get your butts inthere.
Get it done, make it happen andthen refinance later for the
(08:42):
residential and office space.
Get in there.
Landlords are giving awayeverything currently, right now,
and they're giving what theycan so they don't have to pay
out as much.
So I would say jump, jump whenyou can Jump when you can.
Speaker 1 (08:58):
I love it.
Exp has a different model thansome of the other real estate
places.
Why did you pick eXp and whatare some of the benefits that
you're able to provide clientsas a result of being with them?
Speaker 2 (09:11):
Well, I was with another company for five years.
I just switched over in Januaryto eXp.
Exp is global.
They have a lot to offer toeverybody.
I can call somebody in anotherstate and work out a deal with
them currently to help clientsmove or whatever the case is,
(09:31):
and even commercial.
We can help out as well, whichis nice and interesting.
So EXP has a lot to offer to alot of people.
Yeah, benefits.
There's so much more and we'reat the top of the industry
currently.
We're setting the industrystandards currently and it's
going to show this week.
This week is a big changethat's happening and I'm sure
(09:54):
you know about it.
But I mean, we're settingstandards and I like that.
At least we're ahead of thegame than everybody else.
Speaker 1 (10:02):
Maybe you can talk a little bit about some of the
changes and how they will affectthe consumer.
I know internally they affectpeople, but how will it affect
the consumer that there is aneed for what we do and for the
people that work with them?
Speaker 2 (10:19):
Well, there is always a need for somebody to
represent you.
You don't want to benon-represented because then the
other party is going to take torepresent you.
You don't want to benon-representative because then
the other party is going to takeadvantage of you.
If you're a buyer and you'relooking at homes, say, you walk
through an open house and theseller and there's an agent
there, they're going to takecare of the seller.
(10:40):
They're not going to representyou.
No matter which way it looks at, they're taking care of their
seller at all times.
So you should be representativeas well, just like if you're
going to hire a lawyer, you'regoing to hire a lawyer to
represent you in any case.
That's the same thing as realestate.
You need to have somebodynavigate, help you negotiate and
get it done.
Speaker 1 (11:01):
So I like that analogy, because if let's say
it's a criminal case, you're notgoing to hire the prosecutor to
defend you, right?
Speaker 2 (11:09):
They're not going to get it done.
They're not going to get itdone.
Speaker 1 (11:12):
Well, the prosecutor's job is to put you
in jail, right, and to bring acase against you.
It's not to keep you out ofjail.
So there's no way you can hirehim to say OK, you know, I went
into the stands, you know, sayOK, this is why the person's bad
, you know, on one end of thestand, you know, say OK, this is
why the person's bad.
They go to the other side of thestand and say this is why the
person's good.
It just doesn't work that way,it doesn't happen that way.
And so you know, as we'refiguring it out in the industry
(11:34):
and what it's doing, it isimportant that there is somebody
who can advocate for you.
If you're not buying a houseevery single day, then it's not
something that you know how todo and you know how to do well,
you know, and it's just.
I think Colorado is kind of inthe middle of it because we've
been doing and negotiating anddoing things for a long time and
(11:55):
there's some people in otherparts of the country that may
have taken advantage of some ofthe you know, some of the folks
that have been out there andthen, as we've done a really
good job here at some of thethings that have been done, if
people you know are wanting tocome to you, what can they
expect?
If I come to Don Green and youknow, either I'm selling my
house or I'm trying to buy ahouse whether it's a first time
(12:23):
or a investment property.
Speaker 2 (12:23):
What can I expect from Don?
I walk you through the wholeentire process.
I start from God.
I walk you through the wholeentire process.
I start from the beginning.
I sit down and I talk to youabout what expectations are
going to be and what documentsare out there.
I show you the exact documents,what you're going to see, how
we explain them, we talk to youand we get it done.
I communicate with my clients.
I'm over the top.
(12:44):
I'm always there.
When you need me, I'm pick upthe phone.
A lot of agents don't pick upthe phone.
I always pick up my phone everytime.
I don't care who it is, Ialways pick it up.
I communicate throughout thewhole entire process with
lenders, title, the other agentsI make sure everybody is, you
(13:05):
know, even across the board, andeverybody understands and first
time buyers I'm always there.
I always love to see theirfaces at the day of closing just
to know that they got into ahome that they never thought
they ever could, and that's thebest feeling when it comes to
that side of it helping outbuyers.
And then, of course, sellers.
(13:25):
You know they want to have asmooth transaction as well, and
they want to make sure thatthere's no headaches and
heartaches and whatever the caseis and you know there's always
hiccups Every deal, everytransaction is not the same.
It's different and they got tobe treated differently on a
daily basis.
Come sit with me once a day andyou'll figure it out.
(13:48):
Nothing's the same.
Speaker 1 (13:49):
Gotcha.
I love how you said the word we.
When I was teaching and doingstuff, kids would come up to me
and they'd say we did this.
And I said, is there a mouse inyour pocket?
Because who is we right?
But I think what you'reimplying is it takes a whole
team.
There is a team of you, it'snot just a standalone.
You're going to find the rightpeople in the right spots that
(14:11):
are going to help you tocomplete the transaction as
smooth and flawless as possible.
Am I correct?
Speaker 2 (14:17):
That is correct.
I mean I do have a team, I havea lender, I have a title
company, I have myself, I havemy broker.
If you need, there's otherpeople that is in the mix and be
glad to help, you know, at alltimes.
So it's not just me, there'sother people.
Speaker 1 (14:34):
Absolutely.
Thank you.
On the listing side, when yougo and you're helping somebody,
they want to sell their house.
And here in what I found herein Colorado is well, probably
everywhere people think theirhouse is worth way more than it
is.
Speaker 2 (14:50):
Or they Google it, or they get talked by somebody
else.
Speaker 1 (14:53):
Well, and the house across.
I had one guy the house acrossthe street sold for 1.1.
So mine should be worth 1.1.
And then I'm going well, whatmakes your house worth equal to
that one?
Because that one was justrefurbished, remodeled full
basement, a whole bunch ofupgrades.
Your house is showing about 600.
(15:14):
What have you done?
You don't have a basementthat's finished.
You have windows that arebroken out.
You haven't done anything since1972.
So you just go.
Okay, I don't see thecorrelation.
How do you have some of thosehard conversations of this is
what it's going to take, notonly the pricing, to price it
right, but to sell it like youknow?
(15:36):
Are you asking them to takepictures down?
Are you asking them, you know,to get a carpet cleaner and
clean carpet, that kind of stuff?
How do you go about it and helpthem understand?
How would you help somebodyunderstand what it's going to
take to get best price on theirhouse?
Speaker 2 (15:50):
Well, again, every deal is different.
I just have one currently.
I had to go step by step withher.
Unfortunately, she had to emptyout her whole entire house to
get it done, and you know we'reat the point that she waited too
long and now we're into theschool zone, school time and
(16:10):
it's going to be a little bitharder to sell.
But she thought her house waspriced at a certain price.
Well, unfortunately, you'venever done upgrades, you've
never done anything.
You have the exterior needssome help.
You have some interior that youhave old lighting, you have old
, everything is old.
So why do you think it is thatworth price?
(16:31):
Well, I think it's worth this,and this is where we should
price it.
If you want to sell it quick,if you want to hold on to it and
make mortgage payments for thenext three months, we can do
that.
The problem is you're not goingto get activity, and that's
where they need to understand.
Do you want to sell it or doyou want to sit on it?
Do you want to fork more moneyout?
(16:53):
Because mortgage payments,utility payments, whatever the
case, now your house is empty.
Now you're living in anotherstate.
What's happening?
You're paying on something thatyou don't want to pay on
anymore, so why should you listit higher than you should?
Speaker 1 (17:08):
But, don, this is my house.
This was my dream home beforeI'm moving out, and I decorated
exactly the way that I love, andeverybody who comes in here is
going to love it because of theway that I put it together.
Speaker 2 (17:23):
Oh yeah, you put it together 25 years ago, correct?
Yes, I did.
Oh, okay, have you ever updatedyour lighting?
Have you ever changed yourlighting?
Have you changed your flooring?
Did you do anything to updatethe world of 2024?
Because that's what buyers arelooking for.
They want an updated house,something that is moving ready,
and your house is not movingready.
(17:44):
You have an old kitchen, youhave old carpet, you need to
paint every single room, sothere's a lot of things that
need to be done in.
The buyers are not look,they're looking at price.
How much does it cost to do allthis, to move into this
property?
So, no, we need to price ithere before we price it there.
Speaker 1 (18:03):
Even though I have the mob carpet and I have the
gold trim everywhere and back in.
Speaker 2 (18:10):
You know that.
Yeah, it's all back.
Speaker 1 (18:14):
Let's talk about the market a little bit.
What are you seeing as far asyou know trends and with the
interest rates, the way they'vebeen in the last six months, and
you know what has moved andwhere do you see it going over
the, you know, should somebodybe waiting to sell till spring
or should they be saying, okay,I got to get out of here now
Some people got to move, right,I got a new job and I got to
(18:34):
move.
But what?
What are the trends that you'reseeing that you would advise
folks on whether they're sellingor trying to buy, if you have.
Speaker 2 (18:42):
If you have money in your house say you have equity
or anything like that and youneed to move and whatever, take
advantage of equity loanscurrently.
Fix up what needs to be fixedup, because, again, buyers do
not want to fix it up themselves.
There's only maybe 10 or 20% ofthose buyers out there that
don't mind moving into a housethat needs to be refurbished,
(19:05):
but most of the time, you needto always update your house on a
yearly basis and don't forgetit.
Maintain your house, don't letthings fall apart and then all
of a sudden you got to move andyou think your house is worth
something.
Don't do it on a yearly basis.
Pick a project, fix it, get itdone, and you know.
That's how our market ischanging.
(19:26):
Everybody, everybody, wants thenew.
Either they want a new house orthey want it to look new for
the price.
That's what the buyers arelooking for.
So that's my suggestion tothose people out there.
Speaker 1 (19:40):
They talked a little to me about investors, because
it seems like it's a marketwhere investors are buying up
everything flipping, fixing.
How does a person that's tryingto buy something to go live in
and to be their dream, how dothey compete with the investor
world that is seeming to takeover in our land here?
Speaker 2 (20:03):
Well, there is lenders out there and I'm not
sure if you are one of them, butthere is lenders out there that
will actually give them thecash to go buy and you can
actually go buy a house first,go buy it and then sell your
other house later.
Whatever the case is, there isthose type of loans.
There's many different types ofloans out there that will give
them advantage over those cashbuyers.
(20:24):
So you want to find the rightlender to help you out with
those scenarios.
We did it during COVID, we didit before COVID.
There's plenty of people toassist.
Speaker 1 (20:38):
Absolutely.
And I know the neighbors wouldrather have you in there than
the investor in there for thefolks that are trying to buy.
In many cases the neighbors arehaving struggling to say we want
people and not that renting isbad.
You know, one of the thingsthat I can say is that if you
want to create wealth and startgenerating wealth and have
generational wealth, you know,purchasing a home is probably
(21:01):
one of the best ways to be ableto do it.
But if you're not ready to doit yet, then let's find a way to
get you into home.
Like Don said, you know, as alender, there's all kinds of
programs out there for free andfirst time home buyers that you
know I have a hundred percent,where they pay the down payment
for you and then you don't haveto pay on the second for several
years.
I mean, we have all kinds ofdifferent programs and bridge
loans and all these.
(21:22):
So don't think, becauseinvestors are out there, that
you don't have a chance ofgetting a home.
But what I would say is youneed to find somebody who can
help you, because if you try todo that by yourself, am I
correct?
Speaker 2 (21:34):
No, it's very true.
My statistics levels are prettyhigh.
I pretty much minus COVID.
I was pretty good about gettingeverybody a contract on the
first try, no matter what.
We made sure it happened, evenCOVID.
Yeah, you know there's a lot ofpeople competing, but it, you
know, got them in a homeeventually.
(21:54):
It took a little bit, but youknow, other than that, where
everybody just needs to find theright person to help them
navigate, and of course, thelender side as well, because if
you don't have the cash, you doneed to have the right person to
help you on that side as well.
Speaker 1 (22:12):
Oh, it is One of the big things.
I pretty much have a team ofpeople do stuff, but I pretty
much work with reverse mortgages, and reverse mortgages for
purchase has been what I've donemost of this last year.
And allowing people who, whetherthey were saying, well, I have
to downsize or I have this bighome that you know I can't
really live in my spouse diedand we have this five bedroom
(22:35):
house and the taxes are expensesor something too expensive for
me Well, that doesn't mean theyhave to move into an apartment,
right, they can.
Or once they sell their houseand you're about 50% down right
in there, they can actually getinto a home and keep some of
their money.
So you know, I've been doing alot with folks that are coming
from out of state, have soldtheir homes and say I still want
(22:59):
this nicer new Colorado homethat's more expensive than I
thought it was going to be, andthen being able to get them in
without making a payment for therest of their life is pretty
cool to be able to do, but atthe same time, they don't know
how to do that without.
Speaker 2 (23:09):
People know reverse mortgages either.
Speaker 1 (23:11):
Yeah, yeah.
So that's one of the thingsthat can allow somebody to take
advantage and that, you know, asmy goal is is how do I help
people be able to achieve homeownership in a way that you know
can work for them when theydidn't think it was possible?
Those unique things For thefolks that know it's possible,
for those investors and stuff.
You know, obviously I'm notgoing to turn them down if they
(23:32):
show up to me and say we want todo it, but those it's just.
You know I would rather helptheir person that they want to
rent their house, buy a houseThink of all the apartment
complexes and all the thingsthat are going up in the Denver
area are, you know, are notbeing made for folks to own, so
homeownership is key oh, rent ishigh, rent is high.
(23:54):
Prices of homes are high.
Speaker 2 (23:55):
It's all high, Absolutely.
Speaker 1 (23:58):
So I wanted more time before we end today and I thank
you because I think it's beenenlightening and you can tell
this is you know, Don is anabsolute person who can help you
get there.
I love the statistic that shesaid is she helps people get
into their homes right away.
She knows how to price themright, she knows how to make it
work.
She knows how to negotiate.
That is huge in this time andera.
I just promise you trust me onthat.
(24:20):
It is huge to be able tonegotiate.
So maybe you can, you know,just tell us one more time how
to get a hold of you, howsomebody could you know, take
what you have here and run withit and call you and do stuff.
And then the other closingthoughts that you would have for
us.
That would be, you know,enlightening, that people would
get to know that we didn't getto cover already and ask the
right question to get it to becovered.
Speaker 2 (24:40):
Well, it's Dawn Green with eXp Realty 303-503-2650.
You can reach me atdawngreensellsdenvercom.
That is my website.
Check me out and if you havequestions, I'm always here to
answer any questions, at alltimes.
I don't care who you are, I'llanswer you, even if you're
(25:06):
another realtor, I'll be glad tohelp you.
Insightful, just look forthings to change in the next
three to four months.
The world is changing.
We are here and you have togrow with it.
Grow with the change and makeit happen, and just make sure
you have somebody in your backto help you out.
Speaker 1 (25:23):
Absolutely Well.
Thank you again for being partof our show.
Thank you for taking the timeout of your day.
I mean, people are rushing andrunning and I know you're busy
with clients and people that are, you know, coming to you saying
I need help, and so, you know,one of the things that I say at
the end of each of these showsis, first, that you can do this.
This is not something that isabove wherever you're at, even
(25:46):
if we have to start out and sayhere's our plan and you don't
get into a house until thespring, or until six or seven
months.
Speaker 2 (25:53):
It could be two years from now.
It could be a long time.
Speaker 1 (25:55):
It doesn't matter.
Speaker 2 (25:57):
Work on the steps.
Speaker 1 (25:59):
Work on the steps and the process, so you absolutely
can do this.
So don't think you don'tdeserve this either, because
that's the second thing is,everybody deserves, at least in
our country, to be able to havethe opportunity for home
ownership, and so you deserve it.
But everybody should have theopportunity to have investment
properties if that's what theywant.
Everybody deserves theopportunity to be able to
(26:20):
utilize real estate for theirportfolio that helps with their
legacy.
If that's what you want to do,don't think that you don't
deserve it, and somebody is moredeserving of you because of
where they grew up or how theygrew up, or because, they were
able to save money or somethinglike that.
And then the last thing isplease let us help you.
You know, whether it's callingme as a lender, calling Don as a
(26:41):
real, or calling Don and havingher use it, I'm OK with it.
My goal is that you get into ahome and that you do it in a way
that makes sense for you andyou get some help, because it's
too complex in this day and ageto try to figure this out by
yourself.
So if you do those three things,you will be on it, you will be
(27:01):
having it and, just again, thankyou for being on the show.
We look forward to talking toyou on the next one.
Have a great one, have awonderful, just incredible day.
Hey, welcome, welcome , welcome to another edition of
the Mile High Real EstateSpotlight Contest, where we get
to spotlight local real estateagents who are doing, or
realtors that are doing, someamazing things in the community.
We you know this has been.
We are now in August of 2024.
(00:39):
In August of 2024, wheneveryou're watching this, you might
be watching this in 25 orsomething like that, but
realizing where we are, becausewe're in this pivotal point in
our country where we're tryingto figure out or or what is
going on with our markets.
Because when you start thinkingabout you know typical markets
that maybe say some people say,well, it's a buyer's market or
(01:01):
it's a seller's market, or it'sa market for everybody.
Our last year hasn't been anyof those, our last year hasn't.
You know, usually when it's abuyer's market, then the house
prices of houses have gone downand the buyers get to pick and
they get to negotiate a price.
And if you say it's a seller'smarket, then you know the prices
are what?
(01:25):
Inventory is real low and we'retrying to find buyers for every
houses and there's a biddingwar that's going on.
Well, here in Denver metro areait has been over the last year
where the housing prices havestayed up and the inventory has
stayed low and the interestrates have been up, stayed low
(01:47):
and the interest rates have beenup and the amount of people
trying to figure out how they'regoing to buy a home and afford
a home has gone down.
And there's a market where,when we think of incomes where
people can afford houses andbuying their first homes, well,
those houses aren't hardly there.
And then you find this plethoraof inventory of houses that are
are for high end folks thatprobably can't afford a lot of
them, especially with theinterest rate that's up.
(02:09):
So it has just been one ofthose interesting years.
And so we are now, just in thelast few weeks, we're realizing,
hey, we don't want to go into arecession.
So we got the feds talking aboutlowering interest rates and you
know I'm on the the lendingside, so that hasn't happened.
Yet they're saying at theseptember meeting we're going to
go ahead and lower it.
Then everybody can get excited.
(02:29):
But interest rates are moving alittle bit and they are coming
down and so, uh, I I would say,through all of that, it's always
a good time to buy.
It's always a good time to makean investment, because if you
look at the history of realestate and you look at the
history of time, at, at least inAmerica, since it was popular
to buy houses, which is in the1900s, right All the way until
(02:49):
now, the average has been thatyou're going to have an increase
in appreciation in the housethat you buy, and so I'm excited
that you're on today.
I'm excited that you're here.
You have weathered the storm.
You're still here, which is youknow.
There's several people thatI've done podcasts with that are
(03:10):
no longer in the business, thatare no longer out there making
it happen.
And then those warriors that areout there, like yourself, are
doing what they need to do andthey're helping people, which is
super important.
So what I'd love for you to dofirst is just kind of maybe you
can tell us how to get ahold ofyou your emails and social media
and phone numbers, whateverthat is and then we'll kind of
(03:31):
go into talking a little bitabout what got you into this
industry, a little bit aboutyour story and you don't have to
start your story when you weretwo years old, but you can, if
you want and then just kind ofmove forward into what you're
doing now.
So thank you for being on theshow.
Speaker 2 (03:44):
No, thank you very much.
My name is Dawn Green.
I've been a realtor for nineyears.
I'm with eXp Realty right now.
My phone number is 303-503-2650.
You can look me up as DawnGreen sells Denver, colorado.
Nine years in the business.
I used to be a mortgageunderwriter before.
(04:04):
So I've been in the mortgagebusiness for 20 years before
this.
So I know the ins and outs ofthat world Still do to this day.
I try to keep up with it asmuch as possible.
I do residential, I docommercial real estate as well.
I've been dabbling quite a bitin the past year growing that
(04:25):
side of it.
So that's me in the nutshell.
Speaker 1 (04:31):
Thank you.
Thank you for sharing that.
The commercial side why don'twe start out with the commercial
side and kind of talk what doyou like best about commercial
and what are some of theadvantages that people can take
with them?
Because I think a lot of whatwe do we talk about the
residential all the time, but Iknow there's some advantages to
being able to do commercial andknow about commercial and folks
(04:54):
that are wanting to start stuff.
What would you say to thosefolks?
Speaker 2 (04:58):
Well, commercial is a good investment if you're
looking to invest into a certainindustry.
There's plenty of land, there'soffice buildings.
I do some leasing as well andright now leasing is pretty big
right now.
So I know, back in COVIDeverybody left the office but
(05:21):
it's actually getting better,the office, but it's actually
getting better.
So the market is great forleasing.
It's if anybody wants to getback into doing something.
It's a lot of negotiation.
We just closed on a big dealwith some other realtors that we
did and we were got a lot ofperks for them so many of them.
So I mean it's a good area.
(05:42):
But I think investing is greatIf you are ready to invest.
There's multi-units to investin as well.
A lot of people can do that.
That is part, you know, fourplex or more is more of the
commercial side of it.
Speaker 1 (05:58):
So yeah, so, as most of the commercial, when I think
about commercial there'sdifferent areas.
I think of commercial.
I think, like you said, thebigger complexes, the apartment
complexes where people actuallylive.
Then I think of like officespaces, where that I think is
you can tell me a little bitabout office spaces working.
(06:20):
And then I think of likewarehousing and the last few
people that I've talked to aboutthat are saying that a lot of
people manufacturing starting tocome back to the US.
We're starting to hold stuff inthe US because of all the
container issues and stuff thatwe had.
You know, I drive down the 70freeway and I keep seeing more
and more of these huge like youknow?
Speaker 2 (06:40):
Oh, I mean, those are all Amazon, most of them.
Speaker 1 (06:42):
Yeah, exactly, amazon keeps putting them in and then
you go out by the airport andthey're putting a lot of
commercial space in.
They are what is like, is therea niche of part that you're in
or is it just?
You know anything that dealswith like land and what are
people getting into right now?
Speaker 2 (06:59):
Well, a lot of land actually, because then they can
build on it.
You know doing, you know thosegarage dens or doing those
garage spaces actually make alot of money.
You know, like a man caves,those are actually very
profitable, even your storageunits.
If you can buy land and thenput storage units on it, you're
(07:20):
going to make a lot of moneybecause that's where the money
is currently.
So that's what I would do.
Warehousing is a great tool toget into as well, but then you
have to get those tenants to getthat section, because you can
break it up into warehousing.
You can have different areas,you know, maybe multi areas, but
(07:40):
unfortunately that's a littlebit harder.
So I usually stick to the lowerend of commercial currently.
So the commercial office space,commercial leasing.
We do have a commercialbuilding currently for sale.
We have a land that we're acommercial land that we're just
closing this week.
So you know there's a lot ofopportunities out there for
(08:02):
people.
Speaker 1 (08:03):
Are people still now after COVID and people all
started working from home andnow people are starting to come
back into buildings and officesagain?
Is there a big demand foroffice space and finding ways
right now, or is it still whereyou just go like downtown and
you're like there's a ton ofoffice space?
Speaker 2 (08:21):
Oh, there's so many out there and if you want to get
into it, definitely get into itnow, before you're going to
have a problem.
Just like a residential samething Interest rates drop,
buyers are going to have aharder time to buy.
You need to get your butts inthere.
Get it done, make it happen andthen refinance later for the
(08:42):
residential and office space.
Get in there.
Landlords are giving awayeverything currently, right now,
and they're giving what theycan so they don't have to pay
out as much.
So I would say jump, jump whenyou can Jump when you can.
Speaker 1 (08:58):
I love it.
Exp has a different model thansome of the other real estate
places.
Why did you pick eXp and whatare some of the benefits that
you're able to provide clientsas a result of being with them?
Speaker 2 (09:11):
Well, I was with another company for five years.
I just switched over in Januaryto eXp.
Exp is global.
They have a lot to offer toeverybody.
I can call somebody in anotherstate and work out a deal with
them currently to help clientsmove or whatever the case is,
(09:31):
and even commercial.
We can help out as well, whichis nice and interesting.
So EXP has a lot to offer to alot of people.
Yeah, benefits.
There's so much more and we'reat the top of the industry
currently.
We're setting the industrystandards currently and it's
going to show this week.
This week is a big changethat's happening and I'm sure
(09:54):
you know about it.
But I mean, we're settingstandards and I like that.
At least we're ahead of thegame than everybody else.
Speaker 1 (10:02):
Maybe you can talk a little bit about some of the
changes and how they will affectthe consumer.
I know internally they affectpeople, but how will it affect
the consumer that there is aneed for what we do and for the
people that work with them?
Speaker 2 (10:19):
Well, there is always a need for somebody to
represent you.
You don't want to benon-represented because then the
other party is going to take torepresent you.
You don't want to benon-representative because then
the other party is going to takeadvantage of you.
If you're a buyer and you'relooking at homes, say, you walk
through an open house and theseller and there's an agent
there, they're going to takecare of the seller.
(10:40):
They're not going to representyou.
No matter which way it looks at, they're taking care of their
seller at all times.
So you should be representativeas well, just like if you're
going to hire a lawyer, you'regoing to hire a lawyer to
represent you in any case.
That's the same thing as realestate.
You need to have somebodynavigate, help you negotiate and
get it done.
Speaker 1 (11:01):
So I like that analogy, because if let's say
it's a criminal case, you're notgoing to hire the prosecutor to
defend you, right?
Speaker 2 (11:09):
They're not going to get it done.
They're not going to get itdone.
Speaker 1 (11:12):
Well, the prosecutor's job is to put you
in jail, right, and to bring acase against you.
It's not to keep you out ofjail.
So there's no way you can hirehim to say OK, you know, I went
into the stands, you know, sayOK, this is why the person's bad
, you know, on one end of thestand, you know, say OK, this is
why the person's bad.
They go to the other side of thestand and say this is why the
person's good.
It just doesn't work that way,it doesn't happen that way.
And so you know, as we'refiguring it out in the industry
(11:34):
and what it's doing, it isimportant that there is somebody
who can advocate for you.
If you're not buying a houseevery single day, then it's not
something that you know how todo and you know how to do well,
you know, and it's just.
I think Colorado is kind of inthe middle of it because we've
been doing and negotiating anddoing things for a long time and
(11:55):
there's some people in otherparts of the country that may
have taken advantage of some ofthe you know, some of the folks
that have been out there andthen, as we've done a really
good job here at some of thethings that have been done, if
people you know are wanting tocome to you, what can they
expect?
If I come to Don Green and youknow, either I'm selling my
house or I'm trying to buy ahouse whether it's a first time
(12:23):
or a investment property.
Speaker 2 (12:23):
What can I expect from Don?
I walk you through the wholeentire process.
I start from God.
I walk you through the wholeentire process.
I start from the beginning.
I sit down and I talk to youabout what expectations are
going to be and what documentsare out there.
I show you the exact documents,what you're going to see, how
we explain them, we talk to youand we get it done.
I communicate with my clients.
I'm over the top.
(12:44):
I'm always there.
When you need me, I'm pick upthe phone.
A lot of agents don't pick upthe phone.
I always pick up my phone everytime.
I don't care who it is, Ialways pick it up.
I communicate throughout thewhole entire process with
lenders, title, the other agentsI make sure everybody is, you
(13:05):
know, even across the board, andeverybody understands and first
time buyers I'm always there.
I always love to see theirfaces at the day of closing just
to know that they got into ahome that they never thought
they ever could, and that's thebest feeling when it comes to
that side of it helping outbuyers.
And then, of course, sellers.
(13:25):
You know they want to have asmooth transaction as well, and
they want to make sure thatthere's no headaches and
heartaches and whatever the caseis and you know there's always
hiccups Every deal, everytransaction is not the same.
It's different and they got tobe treated differently on a
daily basis.
Come sit with me once a day andyou'll figure it out.
(13:48):
Nothing's the same.
Speaker 1 (13:49):
Gotcha.
I love how you said the word we.
When I was teaching and doingstuff, kids would come up to me
and they'd say we did this.
And I said, is there a mouse inyour pocket?
Because who is we right?
But I think what you'reimplying is it takes a whole
team.
There is a team of you, it'snot just a standalone.
You're going to find the rightpeople in the right spots that
(14:11):
are going to help you tocomplete the transaction as
smooth and flawless as possible.
Am I correct?
Speaker 2 (14:17):
That is correct.
I mean I do have a team, I havea lender, I have a title
company, I have myself, I havemy broker.
If you need, there's otherpeople that is in the mix and be
glad to help, you know, at alltimes.
So it's not just me, there'sother people.
Speaker 1 (14:34):
Absolutely.
Thank you.
On the listing side, when yougo and you're helping somebody,
they want to sell their house.
And here in what I found herein Colorado is well, probably
everywhere people think theirhouse is worth way more than it
is.
Speaker 2 (14:50):
Or they Google it, or they get talked by somebody
else.
Speaker 1 (14:53):
Well, and the house across.
I had one guy the house acrossthe street sold for 1.1.
So mine should be worth 1.1.
And then I'm going well, whatmakes your house worth equal to
that one?
Because that one was justrefurbished, remodeled full
basement, a whole bunch ofupgrades.
Your house is showing about 600.
(15:14):
What have you done?
You don't have a basementthat's finished.
You have windows that arebroken out.
You haven't done anything since1972.
So you just go.
Okay, I don't see thecorrelation.
How do you have some of thosehard conversations of this is
what it's going to take, notonly the pricing, to price it
right, but to sell it like youknow?
(15:36):
Are you asking them to takepictures down?
Are you asking them, you know,to get a carpet cleaner and
clean carpet, that kind of stuff?
How do you go about it and helpthem understand?
How would you help somebodyunderstand what it's going to
take to get best price on theirhouse?
Speaker 2 (15:50):
Well, again, every deal is different.
I just have one currently.
I had to go step by step withher.
Unfortunately, she had to emptyout her whole entire house to
get it done, and you know we'reat the point that she waited too
long and now we're into theschool zone, school time and
(16:10):
it's going to be a little bitharder to sell.
But she thought her house waspriced at a certain price.
Well, unfortunately, you'venever done upgrades, you've
never done anything.
You have the exterior needssome help.
You have some interior that youhave old lighting, you have old
, everything is old.
So why do you think it is thatworth price?
(16:31):
Well, I think it's worth this,and this is where we should
price it.
If you want to sell it quick,if you want to hold on to it and
make mortgage payments for thenext three months, we can do
that.
The problem is you're not goingto get activity, and that's
where they need to understand.
Do you want to sell it or doyou want to sit on it?
Do you want to fork more moneyout?
(16:53):
Because mortgage payments,utility payments, whatever the
case, now your house is empty.
Now you're living in anotherstate.
What's happening?
You're paying on something thatyou don't want to pay on
anymore, so why should you listit higher than you should?
Speaker 1 (17:08):
But, don, this is my house.
This was my dream home beforeI'm moving out, and I decorated
exactly the way that I love, andeverybody who comes in here is
going to love it because of theway that I put it together.
Speaker 2 (17:23):
Oh yeah, you put it together 25 years ago, correct?
Yes, I did.
Oh, okay, have you ever updatedyour lighting?
Have you ever changed yourlighting?
Have you changed your flooring?
Did you do anything to updatethe world of 2024?
Because that's what buyers arelooking for.
They want an updated house,something that is moving ready,
and your house is not movingready.
(17:44):
You have an old kitchen, youhave old carpet, you need to
paint every single room, sothere's a lot of things that
need to be done in.
The buyers are not look,they're looking at price.
How much does it cost to do allthis, to move into this
property?
So, no, we need to price ithere before we price it there.
Speaker 1 (18:03):
Even though I have the mob carpet and I have the
gold trim everywhere and back in.
Speaker 2 (18:10):
You know that.
Yeah, it's all back.
Speaker 1 (18:14):
Let's talk about the market a little bit.
What are you seeing as far asyou know trends and with the
interest rates, the way they'vebeen in the last six months, and
you know what has moved andwhere do you see it going over
the, you know, should somebodybe waiting to sell till spring
or should they be saying, okay,I got to get out of here now
Some people got to move, right,I got a new job and I got to
(18:34):
move.
But what?
What are the trends that you'reseeing that you would advise
folks on whether they're sellingor trying to buy, if you have.
Speaker 2 (18:42):
If you have money in your house say you have equity
or anything like that and youneed to move and whatever, take
advantage of equity loanscurrently.
Fix up what needs to be fixedup, because, again, buyers do
not want to fix it up themselves.
There's only maybe 10 or 20% ofthose buyers out there that
don't mind moving into a housethat needs to be refurbished,
(19:05):
but most of the time, you needto always update your house on a
yearly basis and don't forgetit.
Maintain your house, don't letthings fall apart and then all
of a sudden you got to move andyou think your house is worth
something.
Don't do it on a yearly basis.
Pick a project, fix it, get itdone, and you know.
That's how our market ischanging.
(19:26):
Everybody, everybody, wants thenew.
Either they want a new house orthey want it to look new for
the price.
That's what the buyers arelooking for.
So that's my suggestion tothose people out there.
Speaker 1 (19:40):
They talked a little to me about investors, because
it seems like it's a marketwhere investors are buying up
everything flipping, fixing.
How does a person that's tryingto buy something to go live in
and to be their dream, how dothey compete with the investor
world that is seeming to takeover in our land here?
Speaker 2 (20:03):
Well, there is lenders out there and I'm not
sure if you are one of them, butthere is lenders out there that
will actually give them thecash to go buy and you can
actually go buy a house first,go buy it and then sell your
other house later.
Whatever the case is, there isthose type of loans.
There's many different types ofloans out there that will give
them advantage over those cashbuyers.
(20:24):
So you want to find the rightlender to help you out with
those scenarios.
We did it during COVID, we didit before COVID.
There's plenty of people toassist.
Speaker 1 (20:38):
Absolutely.
And I know the neighbors wouldrather have you in there than
the investor in there for thefolks that are trying to buy.
In many cases the neighbors arehaving struggling to say we want
people and not that renting isbad.
You know, one of the thingsthat I can say is that if you
want to create wealth and startgenerating wealth and have
generational wealth, you know,purchasing a home is probably
(21:01):
one of the best ways to be ableto do it.
But if you're not ready to doit yet, then let's find a way to
get you into home.
Like Don said, you know, as alender, there's all kinds of
programs out there for free andfirst time home buyers that you
know I have a hundred percent,where they pay the down payment
for you and then you don't haveto pay on the second for several
years.
I mean, we have all kinds ofdifferent programs and bridge
loans and all these.
(21:22):
So don't think, becauseinvestors are out there, that
you don't have a chance ofgetting a home.
But what I would say is youneed to find somebody who can
help you, because if you try todo that by yourself, am I
correct?
Speaker 2 (21:34):
No, it's very true.
My statistics levels are prettyhigh.
I pretty much minus COVID.
I was pretty good about gettingeverybody a contract on the
first try, no matter what.
We made sure it happened, evenCOVID.
Yeah, you know there's a lot ofpeople competing, but it, you
know, got them in a homeeventually.
(21:54):
It took a little bit, but youknow, other than that, where
everybody just needs to find theright person to help them
navigate, and of course, thelender side as well, because if
you don't have the cash, you doneed to have the right person to
help you on that side as well.
Speaker 1 (22:12):
Oh, it is One of the big things.
I pretty much have a team ofpeople do stuff, but I pretty
much work with reverse mortgages, and reverse mortgages for
purchase has been what I've donemost of this last year.
And allowing people who, whetherthey were saying, well, I have
to downsize or I have this bighome that you know I can't
really live in my spouse diedand we have this five bedroom
(22:35):
house and the taxes are expensesor something too expensive for
me Well, that doesn't mean theyhave to move into an apartment,
right, they can.
Or once they sell their houseand you're about 50% down right
in there, they can actually getinto a home and keep some of
their money.
So you know, I've been doing alot with folks that are coming
from out of state, have soldtheir homes and say I still want
(22:59):
this nicer new Colorado homethat's more expensive than I
thought it was going to be, andthen being able to get them in
without making a payment for therest of their life is pretty
cool to be able to do, but atthe same time, they don't know
how to do that without.
Speaker 2 (23:09):
People know reverse mortgages either.
Speaker 1 (23:11):
Yeah, yeah.
So that's one of the thingsthat can allow somebody to take
advantage and that, you know, asmy goal is is how do I help
people be able to achieve homeownership in a way that you know
can work for them when theydidn't think it was possible?
Those unique things For thefolks that know it's possible,
for those investors and stuff.
You know, obviously I'm notgoing to turn them down if they
(23:32):
show up to me and say we want todo it, but those it's just.
You know I would rather helptheir person that they want to
rent their house, buy a houseThink of all the apartment
complexes and all the thingsthat are going up in the Denver
area are, you know, are notbeing made for folks to own, so
homeownership is key oh, rent ishigh, rent is high.
(23:54):
Prices of homes are high.
Speaker 2 (23:55):
It's all high, Absolutely.
Speaker 1 (23:58):
So I wanted more time before we end today and I thank
you because I think it's beenenlightening and you can tell
this is you know, Don is anabsolute person who can help you
get there.
I love the statistic that shesaid is she helps people get
into their homes right away.
She knows how to price themright, she knows how to make it
work.
She knows how to negotiate.
That is huge in this time andera.
I just promise you trust me onthat.
(24:20):
It is huge to be able tonegotiate.
So maybe you can, you know,just tell us one more time how
to get a hold of you, howsomebody could you know, take
what you have here and run withit and call you and do stuff.
And then the other closingthoughts that you would have for
us.
That would be, you know,enlightening, that people would
get to know that we didn't getto cover already and ask the
right question to get it to becovered.
Speaker 2 (24:40):
Well, it's Dawn Green with eXp Realty 303-503-2650.
You can reach me atdawngreensellsdenvercom.
That is my website.
Check me out and if you havequestions, I'm always here to
answer any questions, at alltimes.
I don't care who you are, I'llanswer you, even if you're
(25:06):
another realtor, I'll be glad tohelp you.
Insightful, just look forthings to change in the next
three to four months.
The world is changing.
We are here and you have togrow with it.
Grow with the change and makeit happen, and just make sure
you have somebody in your backto help you out.
Speaker 1 (25:23):
Absolutely Well.
Thank you again for being partof our show.
Thank you for taking the timeout of your day.
I mean, people are rushing andrunning and I know you're busy
with clients and people that are, you know, coming to you saying
I need help, and so, you know,one of the things that I say at
the end of each of these showsis, first, that you can do this.
This is not something that isabove wherever you're at, even
(25:46):
if we have to start out and sayhere's our plan and you don't
get into a house until thespring, or until six or seven
months.
Speaker 2 (25:53):
It could be two years from now.
It could be a long time.
Speaker 1 (25:55):
It doesn't matter.
Speaker 2 (25:57):
Work on the steps.
Speaker 1 (25:59):
Work on the steps and the process, so you absolutely
can do this.
So don't think you don'tdeserve this either, because
that's the second thing is,everybody deserves, at least in
our country, to be able to havethe opportunity for home
ownership, and so you deserve it.
But everybody should have theopportunity to have investment
properties if that's what theywant.
Everybody deserves theopportunity to be able to
(26:20):
utilize real estate for theirportfolio that helps with their
legacy.
If that's what you want to do,don't think that you don't
deserve it, and somebody is moredeserving of you because of
where they grew up or how theygrew up, or because, they were
able to save money or somethinglike that.
And then the last thing isplease let us help you.
You know, whether it's callingme as a lender, calling Don as a
(26:41):
real, or calling Don and havingher use it, I'm OK with it.
My goal is that you get into ahome and that you do it in a way
that makes sense for you andyou get some help, because it's
too complex in this day and ageto try to figure this out by
yourself.
So if you do those three things,you will be on it, you will be
(27:01):
having it and, just again, thankyou for being on the show.
We look forward to talking toyou on the next one.
Have a great one, have awonderful, just incredible day.
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