Madison Q2 Party

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At Madison & Company Properties, we place a high value on relationships and community. We work hard, but know the value of pausing to spend time with family and friends. And that’s what our quarterly celebrations are all about!

Check out the video of our Q2 party. The day was filled with laughter and fun, dunk tanks, awards, and even a surprise birthday cake! Thanks to Land Title Guarantee Company and CitiWide Home Loans for their sponsorship and faithful commitment to helping our company be great. 

Paid Parking in Cherry Creek

One of Denver’s premier neighborhoods, Cherry Creek attracts visitors from around the city and has become a famed spot for visitors and new residents to spend sunny weekend afternoons and evenings out.

The neighborhood is filled with some of Denver’s finest real estate, with beautiful homes, large yards, and gated neighborhoods. Cherry Creek North’s streets are lined with boutiques and fine dining, coffee shops, art galleries, and spots to grab classy cocktails after work. It’s also home to Madison & Company’s luxury real estate office, situated on 2nd and Milwaukee.

untitled (122 of 142)The center of it all is the Cherry Creek Shopping Center, the Rocky Mountain region’s finest shopping. Famed by its size and plethora of unique, high-end shopping opportunities, the Cherry Creek Shopping Center is a destination for many who enjoy shopping as a leisure activity.

Recently the mall announced their plan to switch to a paid parking format in January of 2017. This marks the first time in the history of the mall that parking will not be complimentary.

Due to the increasing population of Denver, and thus influx of visitors both to the mall and to the surrounding Cherry Creek North shopping and restaurant area, employees and visitors to the mall have begun to experience difficulties finding parking. Increased development in Cherry Creek North has prompted the change.

The mall receives over 16 million visitors annually, and the Cherry Creek Shopping Center parking garages account for around 70% of the parking in the entire area. This has put pressure on the mall to ensure parking for their visitors, leading to the decision to switch to a paid parking format. The general manager of the shopping center, Nick LeMasters, said the parking shortage has begun to create an issue for employees and paying customers.

“The center’s lots are heavily used by customers, but also by those not shopping at the center,” LeMasters said in a statement. “Our top priority is to make sure our customers have the best possible experience when they visit. This includes having easy access to parking and entrance to the mall, so the implementation of this parking program became essential.”

Customers will be able to pay for parking with cash, credit or debit cards at around 30 kiosks located outside the mall. Visitors will receive a ticket when they enter the parking lots and the first hour of parking will be free. The daily maximum will be $16, with the second hour will costing $3, the third $1, and addition hours $2 per hour until the daily maximum is reached.

Retailers can choose to provide parking for their customers, as the AMC movie theater intends to do. Employees will always park for free, and parking costs will be waived during certain events, like the Cherry Creek Sneak or the Cherry Creek Fresh Markets.

The mall will be using the Smart Parking program, which will include features that alert visitors to which spots are open and digitally direct drivers to those locations. Kiosks can also help visitors locate their cars. The days of wandering around a parking garage looking for one’s car are over!

“Chances are, this is going to be seen a year from now as something that was really beneficial,” International Parking Institute spokesman Casey Jones said. “Parking systems cost money, but they’re critically important to make sure access is managed.”

It’ll take time to grow accustomed to the new system, but as visitors and customers get used to the new parking format, the mall believes it will ultimately provide a more enjoyable shopping experience.

Monthly Real Estate Stats

August stats 3“Who needs a national political convention for entertaining when we get to experience the Denver Metro real estate market? said Anthony Rael, Chairman of the DMAR Market Trends Committee and Denver real estate agent. “July was an interesting month overall as so many seasonal factors converged, pushing nearly every statistical category into the red zone.” He adds, “The one and only category that showed an increase at month’s end was active listings. As mortgage rates continue to be ridiculously low, it’s a good time to get buyers in the car and go shopping because there is an abundance of listings to quench the thirst of those who were beginning to grow weary over the past few months.”

August Stats 1

 

 

 

 

 

July Stats 2 updated

Coffee with a Purpose

a55da5_663d7d92481f471d8603d0c65821ed57-mv2_d_3264_2448_s_4_2Sometimes you get more than just a cup of coffee.

Prodigy Coffee House is one of Denver’s newest coffee shops. Situated off 40th in the Elyria-Swansea neighborhood, the coffee shop finds its home in an graffiti’d space full of hipster vibes, complete with a conference room, community tables, and six garage doors that welcome natural light and good weather on warm Denver days.

With an operating manager with years of experience in the high-end coffee industry and a founder with a decade of experience in education and community-building, this coffee shop has a unique mission. The excellent service, artisan coffee, and welcoming vibe of Prodigy are made greater by their dedication to serving and bettering the community of northeast Denver.

Inspired and influenced by Homeboy Industries, a gang intervention, rehabilitation and re-entry program based in LA. The work of these organizations is based in the inherent value and worth of a human being, apart from anything they do, say, or accomplish. Valuing someone based on their inherent worth the frees them to become their fullest selves, because they’ve already been accepted.

The core of Prodigy’s mission, as stated on their website, is “interconnected with Nouwen’s concept of spiritual hospitality (we create space for people to be authentically and fully themselves) and the Homeboy concept of ‘firme’ (you could not be one bit more perfect).”

The coffee shop employs Denver’s young adults, focusing on at-risk youth often marginalized by an economic and education system that overlooks them. Through Prodigy, these low-income young adults are connected to resources and community through the coffee shop’s mentorship program. Through the job and mentorship program, Denver’s at-risk young adults can begin to “build a basis for lifelong professional and passionate work, experiencing social mobility.”

Founder, Steph Frances says, “We really want to stress that this is much more than just a nonprofit that teaches kids to make a cup of coffee; we are teaching them how to build relationships with people who are different than them. We are creating this space for something we call spiritual hospitality, a space for people to be fully and authentically themselves.”

This coffee shop is bringing life and hope to a part of Denver that most needs it. Next time you’re craving a cuppa joe, head over to Prodigy Coffee House. It’s delicious and it’s purposeful, and with a mission centered on the idea that “you could not be one bit more perfect,” maybe you’ll also leave feeling a little more loved and a little more already-perfect. 

PHOTO COURTESY OF PRODIGY VENTURES

Madison Report

The Madison Q2 report is here! Madison president, Justin Knoll, shares an update on the market. You can view the full report here.

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Welcome to the second half of 2016, a year sure to be remembered for its fast pace, dramatically increasing pricing and multiple offers on nearly all transactions. Statistically, 2016 has been remarkable as homes on the market hit a new record low for the month of May at 5,463 active listings. The average number of active listings in the month of May is 16,981, while the record high was 30,457 in 2006 and the record low was 5,657 in 2015.

Just one month later, things shifted dramatically as there were 7,615 new listings to hit the market, a 12.17% increase compared to the month prior, creating a 9.67% increase year over year. 5,587 homes were placed under contract (-4.61%), 5,324 homes sold and closed (+2.94 %) and 6,796 active listings remained on the market for buyers to consider. While this is typically a time when inventory grows until its peak in August and September, this was a rather large jump for the market in one month.

Average and median sold home prices edged up again from the previous month with appreciation gains of 2.77% to $421,266 and 1.39% to $365,000 respectively. Buyers are feeling some pressure to act fast as the average days on market closed the month at 26, compared to 31 in May.

With continued inventory issues, increased demand and historically low interest rates (thank you Brexit) the rest of the year appears to be a continuation of the hot year we have had so far. While it may be daunting to some, others are finding opportunity in most market segments and buyers and sellers are having success accomplishing their goals.

It is a true professionals market as many deals are closing mainly because of the hard work of Realtors and lenders as transactions are more complex than ever. Our advice, have clear goals, partner with the best professionals and be ready to pounce…Denver is still the place to be.

– Justin Knoll President, Madison & Company

Monthly Real Estate Stats

July stats 3 updated“Denver’s red-hot real estate market exploded with a flurry of new listings and active inventory. In June, for the entire residential market (single family and condos), there was a 24.40% increase in active listings and 12.17%increase in new listings compared to the month prior. Year over year, active listings increased 9.67% and new listings increased 6.79%.”

– Anthony Rael, Chairman of the DMAR Market Trends Committee

July Stats 1

July Stats 2 updated

Denver Neighborhood Highlights

Neighborhood Highlights

We know, we know, Denver being simply the greatest city isn’t new news! Recently rated one of the top cities to move to, with new developments and projects all over the city, and new and unique restaurants, bars, and coffee shops springing up left and right, Denver doesn’t have to try very hard to prove itself. This incredible city is filled with a myriad of diverse neighborhoods, each showcasing their own unique style. New developments and freshly-opened places to eat and drink grace these neighborhoods. Never fear, we have selected a few of our favorites and some that are still affordable to live in… yes, you heard us, affordable!

BarnumLittleton

RiNoRuby Hill

Sunnyside

Interested in living in one of these or any of Denver’s other incredible neighborhoods? Call one of our expert Realtors® today!

Things Your Realtor® Wishes You Knew

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1. Price to sell quickly.
The longer a home is on the market, the less likely it is to get a good or fair price. It is prudent to list a home at a price that is in line with the current market trends and to get it off the market as quickly as possible.

2. Don’t take out new loans or credit cards.
Your credit score is lowered when you open a new credit card or take out a loan, which will mess up the loan process and could result in a delayed or cancelled closing. Wait until the deal is closed on your new home before taking out new loans or increasing your credit card usage.

3. Selling and buying take time. Don’t expect it to happen overnight, and be ready to put time and dedication into the process. Take the proper steps, like talking to your landlord about your leasing terms if you are renting.

4. Get pre-approved.
Before beginning the buying process, apply for loans and get verified by the bank. Any seller will want to know you are not just ready emotionally to buy their home but you are financially ready as well.

5. Leave a good impression. First impressions are everything! When selling a home, be sure to present a clean home that smells good, is a comfortable temperature, and has attractive and appealing decor. Snacks are an added bonus!

6. Yes, you do need a Realtor®! Realtors® adhere to a strict code of ethics. They are experts in the market and will look after YOUR best interest. They’re expert negotiators, and will walk with you through the entire home buying or selling process.

7. Pricing a home too high never works.
Potential buyers will be deterred by the overpriced home and the listing will sit on the market too long. Price reductions can be the kiss of death as you try to catch up to the market.

8. You can’t rush buying a home.
Purchasing a home is a huge life decision and investment. Take your time, carefully consider everything, and use an expert Realtor® to help you find and invest in the right home for you.

9. Don’t take low offers personally. It’ll be okay. Just cry with your Realtor® and move on, higher offers will come. The best offer will present itself and you need to be ready when it does. Emotions limit that ability.

10. Don’t look at homes you can’t afford. Look at homes that fall within your price range. Looking at homes you can’t afford will only lead to disappointment.

Ready to buy or sell? Contact of of our expert Realtors® today! 

9th & Colorado: An Iconic Urban Development

rendering-redcoatThe 9th & Colorado development is Denver’s next most highly anticipated project. Located on the former campus of the University of Colorado Health Sciences Center, 9th & Colorado is a huge urban project. It follows the growing trend of mixed-use spaces and repurposing existing buildings.

Covering 26 acres, 9th & Colorado is a 12-block project. It will have 4 acres of parks, plazas, and open spaces, with two neighborhood parks and green spaces scattered throughout. 9th & Colorado is surrounded by many of Denver’s most popular neighborhoods, including Congress Park, Cherry Creek North, City Park South, and Bellevue-Hale. With 234k – 300k square feet of retail space, 9th & Colorado is bringing valuable resources and exciting retail to these incredible neighborhoods. This project is dedicated to meeting the needs of residents, while maintaining the integrity of the area and existing residents in surrounding neighborhoods.

neighborhoodPage9th & Colorado is projected to offer 900 – 1,100 residential units. These units will include micro apartments, for-sale condos, and rental apartments. In line with Mayor Hancock’s affordable housing initiative, 112 of these units will be affordable housing. Alongside residential, 9th & residential2Colorado will also offer office space. The location is ideal, right in the middle of busy Colorado Boulevard, it is easily accessible from the highway, Downtown, and surrounding residential neighborhoods.

A highly walkable development, 9th & Colorado is groundbreaking. With restaurants and retail, residential and office-space, parks and recreational spaces, this is more than a project. Maintaining the history and character of the site, 9th & Colorado is Denver’s next iconic neighborhood.

 

Source: 9thandcolorado.com