Stephanie Levels Up in Harvey Park

Meet my friend, Stephanie. Isn't she adorable? I know.

When Stephanie reached out to me about buying a home I was SO excited! We knew each other through her partner, Stephen, and the Denver Urban Skate Troop, a skate community that organizes weekly group skates through the city and surrounding areas.

I'd also seen Stephanie and Stephen at open houses in the Harvey Park neighborhood. Harvey Park is an amazing community of mid-mod and ranch style homes where Stephanie happened to own a home. In fact, I had been following her home's Instagram months before we met in person.

Stephanie came to me with a sense of urgency and a challenge I was excited to accept. She was in the process of selling her INCREDIBLE midcentury modern home designed by Cliff May and I learned that the sale of this home was more of a necessity than it was a choice. This information helped me approach her situation with compassion and precision.

She was looking for a seamless transition from one home to the next and her timeline was quick - about one month. For reference, a standard contract typically takes one month from the time of going under contract to handing over the keys. This does not include the time it takes to tour homes, or the heartbreak of losing an offer on a home and continuing with the search. A month meant we needed to be under contract already and I hadn't even set up a search in the MLS.

It was go time.

I set up a search covering neighborhoods west of I-25 for 2+ bedroom, 2+ bathroom homes. Stephanie's dream was to maintain the mid-mod aesthetic that brought her so much joy in her Cliff May and find a home that needed very little updating. We searched high and low. We explored every neighborhood with 1950s charm and after just a couple of weeks we found the MOST charming mid mod home in the Shaw Heights neighborhood of Westminster.

I'm going to be upfront here and let the suspense fizzle because I see a learning lesson for everyone in this story: Stephanie did not end up in this home. During our preview of the property I noticed significant signs of settling. To be clear, all homes naturally settle - it's a normal part of the process. However, Colorado is infamous for its bentonite clay, a type of clay that swells due to its ability to absorb large quantities of water. For Colorado homeowners this means that the amount of bentonite present in the soil can affect the structural integrity of their home and cause serious issues with the foundation. This soil is also a major perpetrator in homes affected by radon (a colorless, od0rless, cancer causing gas that rises from porous soil). It's incredibly important to work with an agent who understands the risks of bentonite and is aware of the neighborhoods most commonly affected by expansive clay soil.

Okay, I could talk geology all day long, but let's move on.

We saw signs of significant settling during our tour and I informed Stephanie of my concerns. The home itself was exceptional. It's gorgeous midcentury design had been maintained by previous owners and the disco vibes were at an all time high. It was challenging to look past the aesthetic, but I explained that if she chose to move forward with the property, it would be imperative for a structural engineer to assess the property and provide their input and if necessary, we needed to be prepared to walk away.

During our inspection we crouched through the crawl space with Rob McGourty of McGourty Engineering and learned that the home had enough evidence of settling to justify twelve helical piers - an installation which would cost in the ballpark of $25,000 - $35,000. We also learned that even with the piers installed and a warranty from the contractor, the new owner may still be at risk of more settling due to grading and drainage factors.

It was a heartbreaking moment in the process, but Stephanie made the right decision to step away from the property and continue her search.

Our second go around in the market was not as easy. Competition was increasing as more buyers realized the higher interest rates were sticking around and seller's were more willing to negotiate on price and/or provide concessions.

In total, we submitted four contracts, including the first one we terminated. By the third offer, Stephanie was ready to call it quits and start looking for a rental.

Her Cliff May was already under contract and though she had negotiated a post-closing occupancy agreement to buy herself more time in the market, she was coming to the end of her wits and timeframe. We both felt defeated. Though I knew Stephanie wouldn't hold the timeline against me, I was disappointed that I hadn't rose to the occasion.

Then one morning in mid-May, Stephanie sent me a house that had gone on market in her neighborhood. In fact, it was directly across the street from the coveted Harvey Park.

Photo Courtesy of Kaytlyn Perez Photography https://www.kaytlynperezphotography.com/

Though she was now leaning towards renting, we booked an impromptu showing and I am so glad we did. Upon walking in, my jaw was on the floor. Usually, I'm the one unselling the home to my clients. I meticulously walk through each property with my inspector hat on, searching for signs of poor upkeep and possible repairs to educate buyers on the potential costs and labor each home may require.

I had zero notes for this property. It had been beautifully updated and maintained, inside and out, and the structure looked impeccable. The home was equipped with FIVE bedrooms, three bathrooms, a kitchenette in the fully finished basement with lock-off potential - perfect for house hacking!

It was also located on a corner lot, directly across from Harvey Park, and the backyard was perfectly designed for gatherings. We made a plan to run comps and submit a competitive offer by that evening.

The comparable properties (including the home she was selling) suggested that the home would appraise for $25,000 more than what it was listed for and, with three other offers on the table, Stephanie decided to come in at a higher price point and offer a quick closing. Even with an over asking offer, we were still not the highest bidders. However, I did my best to pitch Stephanie's story to the listing agent and her connection to the neighborhood sealed the deal for the sellers. By the end of the day, we were under contract on a perfect slice of pie in Stephanie's favorite Denver neighborhood - the one she already lived in!

Photos Courtesy of ReColorado

In 2.5 weeks we breezed through the contract with an easy inspection and an appraised value exactly where we anticipated. All in, Stephanie was able to sell her first Harvey Park home at a serious profit and use those funds to level up to a home with more square footage for the exact same price. Since moving in, she has offset her mortgage with roommates and her mortgage payment is the exact same as her previous home!

I am so proud of Stephanie for making the decision to continue her journey with homeownership and for pushing through the difficulties in her process to create a better life for herself. Stephanie is the poster child of resilience and I am so grateful to have been a part of her journey. The best part? Since closing, we've developed the sweetest friendship! In fact, I am writing this from her beautiful new kitchen while we crockpot enchilada soup!

Stephanie, thank you so much for trusting me to help you through this process. To me, there is nothing better than empowering people to grow their financial wealth through the vessel of homeownership and you are, without doubt, one of the most successful stories I've had the pleasure of witnessing and contributing towards.

Cheers to you and your new home - I wish you years and years of happy memories in Harvey Park!

More Photgraphic Proof of Stephanie's Adorableness!