Author Archive

Ed Reynolds Advises on How to Find the Right Real Estate Agent in Reader’s Digest

August 10, 2018
Sara Russell

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Finding the right real estate agent is critical whether you’re a home buyer or seller and Atlas broker, Eddie Reynolds has important advice on how to find the right fit.

A little creativity is required from a real estate agent. “Whether you’re a buyer or seller, there’s a huge advantage to thinking outside of the box,” says Reynolds. “Understanding when to reduce a purchase price or waive contingencies as a buyer is crucial to getting your offer accepted.”

Reynolds goes on to advise, “if you’re looking to purchase a $2 million dollar house, don’t work with an agent that primarily sells $200,000 condos. The agent needs to be experienced at buying and selling homes in your price range.” Reynolds explains that one way to do that is to tell the agent, “I am looking for a $500,000 home, how many houses in that price point did you buy or sell this year?”

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Stair Climb for Cystic Fibrosis Foundation

Atlas Real Estate Group is committed to “Adding Tomorrows” for those with Cystic Fibrosis. Participating in the annual Stair Climb at Mile High Stadium, the team raised $5,000 and Atlas matched the contributions with a $5,000 gift to the Cystic Fibrosis Foundation Rocky Mountain Chapter.

Congratulations to our team for their outstanding fundraising efforts and feat of physical excellence, climbing 3,865 steps! Atlas partner Ryan Boykin was the fastest, completing the challenge in a little over 24 minutes.

About the Cystic Fibrosis Foundation

The mission of the Cystic Fibrosis Foundation is to cure cystic fibrosis and to provide all people with the disease the opportunity to lead full, productive lives by funding research and drug development, promoting individualized treatment, and ensuring access to high-quality, specialized care.

About Cystic Fibrosis

Cystic fibrosis is a progressive, genetic disease that causes persistent lung infections and limits the ability to breathe over time.

In people with CF, a defective gene causes a thick, sticky buildup of mucus in the lungs, pancreas, and other organs. In the lungs, the mucus clogs the airways and traps bacteria leading to infections, extensive lung damage, and eventually, respiratory failure. In the pancreas, the mucus prevents the release of digestive enzymes that allow the body to break down food and absorb vital nutrients.

Learn more

 

About the CF Climb

Thanks to everyone who participated, including:

And a special thanks to Rachelle Pizarro from the Cystic Fibrosis Foundation for organizing another successful event.

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Denver Metro Market Update: July 2018

Buyers in the Denver Metro real estate market saw a glimmer of hope in June with increases in inventory, days on market and months of inventory. In the Denver Metro market (including Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we also saw:

  • 3,969 total single-family homes sold; down 5.14 percent from last month
  • Average sold price in the single-family home market was $539,934 (up 0.17 percent from last month)
  • Median sold price in the single-family home market was $452,500 (up 0.56 percent from last month)
  • Average sold price in the condo market was $362,246 (up 1.35 percent from last month)
  • Median sold price in the condo market was $305,000 (down 0.43 percent from last month)
  • 7,436 active listings at the close of June, up 15.52% from the previous month

To see additional statistics, you can see the full report courtesy of the Denver Metro Association of Realtors.

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Jason Shepherd Discusses Denver’s Multifamily Outlook with Multi-Housing News

July 5, 2018
Sara Russell

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Atlas co-founder and partner Jason Shepherd spoke with Multi-Housing News’ Keith Loria about the investment market and new development trends he’s seeing.

“In Denver, we have been flooded with new multifamily construction over the last few years. This comes on the back of five years of extremely high positive-net migration especially within the younger demographics. Recently, we’ve started to see the units getting smaller, inclusive of co-living and micro units. These new living experiences are serving the desire of the vibrant tenant mix that prefer community over privacy. The question is how sticky are these tenants? As an owner of multifamily, vacancy and turnover are two costs that have a gigantic impact on your return. Will these communal multifamily assets retain tenants for a few years, or do these new residents to a city or people transitioning from post college into their adulthood use this housing sector as a quick stop until they find something long term? Only time will tell but it’s a trend that is moving from the primary markets (LA, NYC, SF) quickly into the secondary markets like Denver.

Developers have overbuilt the multifamily asset class in Denver and I’m keeping my eye on this over the next couple years. I’m patiently waiting to see what happens to these units as 10 years of apartment supply (using our average absorption rate for this asset class) enters our market. How do these units pivot? I like the idea of repurposing to independent living for the aging community or condo conversions but only time will tell. I’m really interested to see how suburban multifamily will play out as transportation begins to change, increasing mass transit and the undeniable introduction of autonomous driving might inspire some city people to venture out to the suburbs if traffic was less of an issue.”

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Jason Shepherd Quoted in Real Estate Business Institute Piece On Listing Strategies

June 22, 2018
Sara Russell

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Atlas Co-Founder and Partner, Jason Shepherd was recently quoted in Real Estate Business Institute’s online magazine discussing listing prices. Addressing the frequent valuation discrepancies of larger websites like Zillow, Shepherd says:

“To combat the pricing metrics of websites like Zillow or Realtor.com, it’s important to describe the shortfalls of algorithm-based valuation in real estate. The accuracy of housing value websites depends on the dataset, algorithms, and machine learning.

Artificial intelligence is only as good as the data it’s given, and with real estate, there’s not enough aggregated data for the algorithms to produce an output with a good confidence interval. It’s still very early in its data lifecycle, so it isn’t close to perfect, but it’s getting better.

The current issue with AI in real estate is the infrequency of data points. Real estate doesn’t transact as often as other forms of data-driven businesses. For example, stocks trade value every fraction of a second, and online poker bots can see hundreds of hands at a time. In these examples, the robust datasets allow a machine to learn and then determine valuation. The average homeowner buying or selling their primary residence once every seven years doesn’t allow for the most accurate valuation logic.

The even larger issue for accurate data resides in such housing variables as the interior condition, basement finish, views, whether there’s a liquor store next door, surrounding traffic, five pitbulls in the neighbor’s backyard, excessive HOA fees, and the list goes on. These variables can be so specific to a particular home that even the house next door or the house across the street might not be susceptible to these types of valuation adjustments.

These predictive valuation websites will continue to get better as a natural product of more data and information. At this time, they should be used as a starting point but never to determine list price.”

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Ryan Boykin Quoted in FierceCEO Article Discussing Company Culture, Execution, Strategy

June 21, 2018
Sara Russell

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Atlas co-founder, Ryan Boykin, was quoted in a FierceCEO article talking about company culture, execution and strategy. Filed under Growth and Innovation, the piece focuses on what it takes to create a successful business.

“In a company, you have culture, execution and strategy,” said Ryan Boykin, co-founder of Atlas Real Estate Group, in an email exchange. “When I first started, I focused too much on strategy. I soon realized that while strategy is important, it’s not nearly as significant as execution and culture. I also make sure company culture is another main focus. Five years ago, I wish I had known that the company’s strategy would become clearer as our product was received by the market. I learned that the market will ‘speak’ to the company on what its strategy should be and how to evolve it.”

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Denver Metro Market Update: June 2018

The Denver area real estate market continues to sizzle into the Summer as homes sell quickly and prices increase steadily even with an increased housing inventory. In the Denver Metro market (including Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we also saw:

  • 3,807 total single-family homes sold; up 9.37 percent from last month
  • Average sold price in the single-family home market jumped to $540,624 (up 0.10 percent from last month)
  • Median sold price in the single-family home market jumped to $451,000 (down 0.88 percent from last month)
  • Average sold price in the condo market increased to $356,337 (up 0.56 percent from last month)
  • Median sold price in the condo market increased to $305,000 (up 2.52 percent from last month)
  • 6,437 active listings at the close of May, a steady seasonal increase as we head into what is traditionally the busiest real estate season

Even with prices hitting record breaking levels, investing in real estate is still possible! Listen to Atlas’ own Mike Hills talk real estate investment on Haystack Help Radio.

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#AtlasGivesBack Celebrates Father’s Day with the Denver Dream Center

June 17, 2018
Sara Russell

Atlas Real Estate Group partnered with the Denver Dream Center (DDC) to celebrate Father’s Day at their annual BBQ in the park. The DDC’s THRIVE is a re-entry ministry designed to encourage and assist men as they integrate back into life after prison. DDC hosted the event for the men and their families, with about 400 people in attendance including Denver Mayor Michael Hancock, the Chief of Police and Denver Broncos Safety, Justin Simons.

The Atlas team was responsible for the check in table and running the water balloon fight. 3,000 water balloons plus about 150 fathers and kids participating made for one epic balloon fight!

Thank you to all of our volunteers, including Turner Williams of AmeriFirst Financial.

See photos from the event

About the Denver Dream Center

The Denver Dream Center’s mission is to reconnect people who have been isolated by poverty, substance abuse, gangs, imprisonment, homelessness, abuse and neglect to God and to a community of support to meet their physical and spiritual needs. Also, to help them develop a support system that will encourage them to make positive, long-term, God-honoring changes in their lives.

Learn more about the DDC

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Jennifer Reinhardt Provides Tips on Moving to Denver in Recent Closetbox Article

June 13, 2018
Sara Russell

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In “10 Things to know before moving to Denver,” Atlas Associate Broker, Jennifer Reinhardt, gives advice on adjusting to Denver’s high altitude, local entrepreneur culture, cost of living, food/beer appreciation and more:

“Know that we love to work out,” says Jennifer Reinhardt, an associate broker with Atlas Real Estate Group. “There are people running and biking all over the city. We love to plan hikes and stair climbs. We have Red Rocks Amphitheatre, not just for concerts, but for running up and down the stairs and hiking in the mornings.” But, first, she suggests, adjust to the elevation. You’re going to feel winded quick, even if you are in great shape. To get in on the fun, try renting a bike from B-Cycle, the city’s bikeshare that has stations throughout downtown, and explore the city on two wheels.

Denver isn’t all brawn; lots of brainpower is here, too, and entrepreneurship is celebrated. “Denver is full of small business owners and start-up companies,” Reinhardt says. “There is a culture to network, share workspace and grow a company. We have a strong, robust economy.” In fact, Closetbox is based in Colorado and was started by a Denver entrepreneur.

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Mike Hills Talks Investment Properties on Haystack Help Radio

Atlas Associate Broker/Property Manager Mike Hills talks getting started in real estate investment on Haystack Help Radio’s featured segment, “Your Money Matters.” Hills, host Scott Whatley, and Kurt Rogers, owner of Affordable Interest Mortgage, discuss what it means to invest in real estate, timing and actual cost. Hills also introduces listeners to Real Estate Investment Hour, a monthly presentation and networking event, developed by Hills, that teaches you how to build long-term wealth and save for major life events by investing in real estate.

Held at Atlas Real Estate Group in Denver, Hills and his team use the hour-long session to teach attendees how to navigate the path to financial stability. They share their own personal experiences and “how to” stories about building passive income so that attendees walk away with an understanding of why they decided to invest in real estate and the success (and peace of mind) they’ve achieved through their investments. Click here for more info on this fun, informative and congenial event, with refreshments served!

“One of the things we ask is what’s your Why? Why are you here? You know. Why do you want to do this? Are you just trying to get a get rich quick scheme, you know people come to me, like I want to make 15% on my money in 2 years and sell. I’m not your guy for that. You know, again, we’re planning long-term. We’re trying to make fundamentally strong, smart decisions, in an up economy or a down economy, so that we’re not forced to sell. Because if we’re not forced to sell, we have options and in the end that is what we are all after, is options.”

Listen to the full podcasts on the right.

About Your Money Matters

Your Money Matters is presented by Haystack Help Radio, and is sponsored and brought to you by Affordable Interest Mortgage. Your Money Matters is on every Tuesday from 12PM to 1PM on 560 AM KLZ. The show informs listeners of different ways to save their money on a variety of consumer topics:

  • Mortgage Interest Rates
  • Improving Your Credit Score
  • Financial Planning
  • How To Sell Your Home
  • How and Why to Choose your Title Company
  • How To Become Your Own Bank

Each week’s guest is a local specialist from various fields that share ideas and knowledge of his/her profession to help listeners.

Podcasts

Mike Hills interview on Haystack Help Radio’s, “Your Money Matters” from 05/15/18

Mike Hills interview on Haystack Help Radio’s, “Your Money Matters” from 04/10/18

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