Amazing Park Hill Denver Home Renovation Tour

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Join us today as we get the inside scoop about a historic bungalow renovation in the popular Park Hill neighborhood of Denver, Colorado.   We had the great privilege of speaking with Brooklyn Daugherty and Erin England of Cult Creative (cultcreativedenver.com), the duo who transformed this space from a dated design that did not work for the modern lifestyle into a highly functional, well thought out space.

Upon entry to the home you are welcomed into an open concept family room / kitchen / dining area which provides a sense of spaciousness but while also maintaining them as defined spaces.  The new layout allows the homeowners to spend time together while engaging in different activities.  In the family room your eye is immediately drawn to the original Craftsman historical elements that Brooklyn and Erin retained, including the square glass windows, built ins and the original fireplace just updated with a coat of paint.

When comparing the original home and the new home, you can’t help but notice the increase in the amount of natural light which was achieved by turning a south facing window into a set of sliding doors, vaulting the ceiling in the kitchen and using white paint to visually create spaciousness.  The kitchen has no upper cabinets opting instead for open shelving.  The base cabinets are IKEA frames updated with custom doors from online fabricator Semi-Handmade (Pro-Tip!!!) Also in the kitchen was a fresh take on the barn door trend, Erin and Brooklyn reclaimed an old original door from the project, mounted it on a track and now it proudly covers the pantry opening….another nod to the history of the old home.

The original home included 2 bedrooms, 1 bath and one requirement of the project was to add another bedroom AND another bathroom, which the team was able to do just by moving walls around within the existing home’s footprint.  The master bedroom now includes a four piece ensuite bath and the other two bedrooms share a bathroom.

It is really fascinating to see the before and after of this project and even believe it was the same home.  It just goes to show you can’t judge a book by its cover….. take a look at the video and see for yourself!

Answering the Most Important COVID-19 Mortgage Questions

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Information is coming at us fast and furious and changing by the day if not the hour. It’s difficult to know what is current, relevant and trustworthy which is why we have made it our goal to be a resource to you, our loyal clients and friends, during this time.  In our recent conversations we’ve had several people ask about the state of the mortgage industry amid the current global crisis.  On Thursday, April 16 we connected with our long time, trusted lending partner, Matthew Hibler of Cherry Creek Mortgage, to get you the answers you need. Tune in to this video to find out:

  • Exactly what is mortgage forebearance and why it really should be saved as a last resort.
  • How has the mortgage industry been impacted?
  • If lenders are still lending and are the low interest rates too good to be true?
  • Are jumbo loans still available and what about FHA/VA backed loans?

Lots of helpful information in here for current homeowners and those looking to make a move soon, so take a few minutes to get caught up on all things mortgage!

As always if you have any questions about your specific situation our team and Matthew are always available to chat with you.  Stay well, stay home and stay healthy!

What is Happening in the Denver Real Estate Market During COVID-19?

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Hello everyone, we hope this message finds you safe, healthy and enjoying the nice weather we’ve had recently. We are writing to share with you our latest video update on the major points of the CARES Act and how it could help to ease some financial stress you might be feeling right now. We also give a quick update on the current Real Estate market and how our team is working safely to navigate the current environment.

 This video was filmed on April 2, 2020 and it already contains some dated information…..to comply with the Governor’s latest orders we are no longer conducting in-person showings for Buyers or Sellers, but do have a variety of virtual tools available to use if you are needing to search or sell sooner rather than later! We are still doing buyer and seller consultations virtually so we can get everything set and ready for when we are ready and able to get things moving we can do so quickly.  We look forward to returning our lives and business to some normalcy as soon as safely possible. In the meantime, we’re available to you virtually for any of your Real Estate needs!

As we’re all dealing with the effects of COVID-19 on our lives, I want to share encouraging news: the government has

approved the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act which will help millions of people in this critical time. Perhaps even you.

This sweeping legislation is unprecedented in the history of our nation and provides significant economic assistance to address the impact of COVID-19.

The CARES Act is over 800 pages long, but here are some of the economic provisions most relevant for you.
What this means for you

and your loved ones
If you’re eligible for a cash payment 
Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.
If you or someone you know has lost a job

States will still continue to pay unemployment to people who qualify. This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months.
If you’re a small business owner

The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses to cover immediate operating costs.

There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books, or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.
If you’re a freelancer or independent contractor

Typically, self-employed people, freelancers and contractors can’t apply for unemployment. This bill creates a new, temporary Pandemic Unemployment Assistance program representing $600 per week through the end of the year helping people who lose work as a direct result of the public health emergency.
If you would like to learn more about all the contents in the CARES Act, please see this article.

Please do not hesitate to reach out should you have any questions, or if you would like to chat.

Stay safe and healthy.

All the best,

Kathy, Zac and Jill

Arvada Neighborhood Tour

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Take a couple of minutes to stop watching all the negative media news…and watch something more lighthearted! Join us as we take a tour of Olde Town Arvada – an incredibly cool and still somewhat under-the-radar community in Denver’s suburb, Arvada! We believe in supporting local businesses and there are 2 fun ones we stop by on our tour. So sit back, relax, and enjoy! (*Note: This video was filmed at the beginning of March, before the COVID-19 outbreak locally and stay-at-home orders).

Contact us today to start your Home Buying or Selling journey! – https://denverlivinghomes.com/contact…

Get a FREE Home valuation – https://denverlivinghomes.com/home-va…

Start your search for your dream Home! – http://search.denverlivinghomes.com/

The Nelson Team consists of two licensed Real Estate Agents, their full-time Executive Assistant / Transaction Coordinator and a Creative Marketing Specialist. They specialize in serving the Denver metro area with a proven track record of getting results quickly and a direct line of communication at all times.

Financial Options to Consider During COVID-19

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We hope this message finds your family adjusting to our (temporary) new normal and that you are uncovering some peace in this slowed pace of life.  Here at The Nelson Team we are staying focused on the fact that this is temporary, and we will soon return to our old routines, likely with a renewed appreciation for the ordinary day.    In the meantime, we realize there is a lot of information being communicated and can make it difficult to know where to focus our energies.  To be a resource to our clients and friends who are experiencing financial hardship we put together a list of action items for you to consider to ease your burden.   We encourage you to seek assistance as soon as possible and want to point out that most of the below programs are not automatic, they are only available upon request, so please take action!  

Also, in any of the below suggestions, be sure to ask the financial institution if/how taking advantage of available options will impact your credit.  In most cases they will not, but be sure to clarify so you can prioritize which programs are best for you to pursue: 

 

Mortgage

Contact your mortgage servicer – the lender you send a check to every month –to see if you qualify for mortgage forebearance.   Forebearance assists borrowers who are unable to make their monthly mortgage loan payment as a result of a temporary hardship. Many servicers allow mortgage payments to be reduced or paused for a period of up to 12 months, depending on the circumstance.   The relief can apply to any type of property: primary home, second home or investment properties. Note that this is not a forgiveness of debt, once you recover financially (or the forebearance period ends) you will work with the lender on a repayment plan, which might include extending the term of the loan.  Be sure to ask about interest as usually it will continue to accrue during the forebearance period so it is to your benefit to resume payments as soon as you are able. 

 

Credit Cards

Visit your credit card company websites and read their response to their customers financial concerns.  If you need temporary assistance for your personal or business accounts typically you can request this online.  If you don’t find what you need online, call the customer service number on the back of your card to speak to a someone live but expect long wait times as the companies are overwhelmed with calls.   Below is a summary of what some credit card companies are offering: 

Waiving interest accrual or setting interest at 0%, lowering minimum payments, deferring payments, waiving late payment fees,   increasing credit lines (dependent on credit worthiness)

Before you take advantage of any of their programs ask if this will have any effect on your credit report AND ask if the line of credit will still be available to you.  Some cards are freezing the line of credit so if you need access to these funds, proceed with caution. 

If you are unable to find relief with your current issuer and you have a good credit score, consider applying for a 0% interest credit card to consolidate debt from other cards onto. 

https://www.creditcards.com/credit-card-news/credit-card-issuers-relief-coronavirus/

 

Automotive Loans

Several automakers and banks are currently offering payment deferrals for customers experiencing financial hardship.  Reach out to your lender to see what they can offer.  

As well many manufacturers and financial institutions are incentivizing new car purchases with 0% interest on terms up to 84 months with the first few months of payments deferred, so if you are in the market for a new car, now might be a good time to buy.

 

Federal Income Taxes

The deadline to file Federal AND Colorado State income taxes has been extended to July 15 for all individual returns, trusts, and corporations.  This relief is automatic, taxpayers do not need to file any additional forms or anything to take advantage of this extension.  

 

Student Loans

Borrowers with Federal student loans are able to pause those loans until September 30 and interest has been reduced to 0%. Lenders will not be garnishing wages, Social Security and tax refunds for student loan debt collection for those in default.  If you have Federal student loans this IS automatic and you do not have to do anything.  If you have private student loans contact your loan servicer and ask if they have programs to help. Note, if you are able to continue making your payments as usual, you will pay less in the end.  

https://www.forbes.com/sites/zackfriedman/2020/04/02/federal-student-aid-student-loans-coronavirus/#1957373426f3

 

Utilities

Contact all of your utility companies as many offer energy bill assistance programs which may allow you to defer payments until a later date.  

 

Other General Banking

If you have seen other fees or charges show up on your general banking accounts, reach out to them as many banks are waiving overdraft, non-sufficient funds, monthly maintenance, expedited check, debit card, excessive transaction fees.  

 

Other Financial Commitments

Our other advice is to look through your credit card and bank statements to find things that can be temporarily suspended in order to save money – gym memberships, monthly subscriptions, reduce cell phone data plan, etc. 

This information is changing daily so best option is to reach out to your lenders and ask for help but as always we are a phone call away to talk through any of these options with you!   Stay well friends!