Monday, December 20, 2010

Favorite Homes of 2010

Reflecting back on 2010, there are so many Clients to thank for a wonderfully successful and rewarding year... to each and every one of you - thank you for your business! Here is a look back on the year, along with highlights from some of the many Buyers & Sellers I had the pleasure of working with...

Favorite Buyer Sale

Buyer, Kristi - Sloans Lake
This purchase was a long time in the making. Kristi had seen this duplex several times, and though it had everything she wanted (and more!), there were some challenges holding her back... a funky lot line, shared garage and party wall problems. Working together with the Seller, we were able to overcome all of these issues and she ended up with a WONDERFUL new home in a promising investment area. Congratulations, and thanks for your business and your creative, problem-solving approach!


Favorite Seller Sale

Seller, Chris - Littleton
Not only was Chris an absolute pleasure to work with - but he was also amazing to work with during a very difficult market! Despite doing EVERYTHING right, Chris had a long road to the closing table. This home was in perfect condition, staged, and just happened to be in an area that was hit pretty hard with distressed properties. Chris hung in there with me, and we were able to get him closed just in time for him to close on the home of his dreams - a new Loft in the heart of Downtown. Thanks for sticking with me, and for having such a positive attitude. Congratulations on your Sale!


Best 'Fit-For-The-Client' Deal


Buyer, Brent - Highlands

Talk about being patient! Brent must have looked at 100 homes in this area, and had several opportunities that just didn't go his way. Rather than giving up, he continued to believe that the right home was out there - and all his waiting led him to this beautiful single family home in a newer part of Highlands! He found a wonderful new home that fit his needs, he made no sacrifice on location, and we wish him many happy years in his new home. Congratulations, and thanks for sticking with your home search through thick and thin!




Favorite Investor Purchase


Buyer, Russell - Wheat Ridge
Now here is a Buyer with some vision! Russell had big renovation plans, and searched on and off for many months (and in many different areas). He finally decided on a charming mid-century brick home just outside of the popular Highlands neighborhood - and one that had some fantastic potential! I know it is still a work in progress, but first on his list were landscaping/curb appeal as well as a major kitchen remodel. Can't wait to see the 'after'!! Congratulations, Russell - and best wishes!



Most Charming Home

Buyers, Tara & Levi - Highlands
This purchase was a true Highlands Gem! Located in the 'Harkness Heights' neighborhood, this bungalow oozes charm from the moment you walk in the door. The perfect mix of original details and modern amenities, this home is a poster child for why Buyers fall in love with NW Denver. From the private yard to the sunken kitchen... the media room to the master suite... the hardwood floor detailing to the exposed brick - this home would leave any visitor envious. It was truly a pleasure working with each of you - and congratulations on your new place!



Favorite First Time Home Buyer Purchase

Buyers Devin & Rachel - NW Denver
Now what first time home buyer wouldn't be thrilled with this as their first kitchen?!? Devin & Rachel landed this adorable 1/2 duplex in Highlands, and it is completely remodeled (literally from top-to-bottom, or new-roof to finished basement). Working with First Time Home Buyers is so fun and rewarding - and this was the perfect example. These Buyers looked at this home and had the keys in their hands just about a month after beginning their search. Congratulations on your first home, and may 2011 bring you many blessings!!



Favorite Suburban Home Purchase

Buyers, Joe & Peggy - Old Littleton

This for-sale-by-owner home came with some wonderful features... including a huge park-like backyard, a totally remodeled kitchen, and a location near the heart of Old Littleton! Joe & Peggy were also on the receiving end of some nice repairs as a part of their inspection negotiation... which was a wonderful bonus! We thank you so much for your business, and hope you are enjoying all the space you have in your new suburban home!


Favorite Closing

Buyers, Zack & Monica - Edgewater
This home in Edgewater provided quite the education on Flood Insurance, and there were times when we weren't sure this deal would close! After learning more than they ever wanted to know the subject (and after we successfully removed the home from FEMA's flood map!) Zack & Monica and their adorable family are the proud new owners of this totally renovated home. They secured an amazing price, too - by sticking to their guns during a grueling negotiation. They are now the lucky owners of a beautiful home in a family friendly neighborhood - walking distance to many shops & restaurants. Congratulations on a successful closing, and thanks for your business
!


With so many wonderful clients, it was hard to stop here, but to those of you who I didn't mention, know that I am truly thankful for the opportunity to help you in 2010 - and I hope to work with you all again in the future! Congratulations on your 'piece' of Denver Real Estate, and Happy New Year!

Friday, December 17, 2010

Calling All Denver Real Estate Investors...

Real estate investing has become a popular interest - and for some, it's a full time job! If you are considering adding some real estate to your investment portfolio, you may have an endless list of questions to consider. What is a cap-rate? What is a good cap-rate in MY area? What kind of cash-on-cash return is possible? What should I be looking for as I consider whether a property will 'cash flow' or not? Even once you identify an opportunity (and that is half the battle!), there are questions like 'how do I decide whether to use a property management company or do-it-myself?' Where can I get advice on leases, and should I consider incorporating my business? It can quickly become overwhelming...

Getting into the game of real estate investing can be extremely rewarding, but this is a time when your research will reward you - BIG time. We have a number of books, websites and resources for investors (helpful for everyone from those just starting out - to those who are looking for some advanced help with their investment decisions).

CONTACT US, and request a copy of our Investor E-Pack for additional information & we will be happy to help you get started (or continue down the investment path)!

In the meantime, if you'd like to browse some income properties in the Denver area, consider using Loopnet.com. This internet resource is an amazing source for leads, and your Realtor can follow up on properties that you'd like more information about.

Thursday, November 18, 2010

Flood Insurance in Denver?!?

Buyers in Colorado may be surprised to discover that lenders will require Flood Insurance for some parts of our land-locked state, based on FEMA flood maps.

If Buyers are not aware of this requirement upfront, it can cause major closing delays, and even cost them the deal. Flood insurance rates are regulated through a government program, but can be quite expensive depending on the flood zone of the property.

We know some insurance companies who offer private policies that can help make this insurance more affordable. In addition,we just assisted a Buyer with the process of having a property removed from FEMA's flood plain! That's right - by having a specific type of survey done and using a surveyor who had some knowledge of FEMA's process, we were able to remove the lender's requirement for flood insurance altogether.

Don't drown in your Flood Insurance woes! We can help! Contact us for more information.

Tuesday, November 16, 2010

Buying A Foreclosure In Denver

If you are on the hunt for an REO or Foreclosure in Denver, you have probably seen the terms 'Homepath' or 'Homepath Financing' as you browse property descriptions. Like many others, you may find yourself confused by all the foreclosure jargon... wondering what all these terms mean. Homepath.com is Fannie Mae's public website - which gives Buyers the ability to search for homes using their own unique criteria... similar to how Buyers use other real estate websites like Zillow and Trulia. Visit Fannie Mae's Homepath website by clicking on 'FannieMae' below.


The Homepath website will only list those REO homes which are Fannie Mae affiliated, so it is not (by any means) an exhaustive list of foreclosures, but it can be a great source for finding opportunities, and an easy place to start. If you are searching for foreclosures - we can help! Contact us to receive customized email searches including the newest foreclosure listings.

Sunday, November 14, 2010

Top 5 Things To Consider When Buying A Condo

Lots of Buyers in Denver are uncovering 'deals' that resulted from the housing down-turn. For many, they are considering new types of investment opportunities - particularly condos. If you find yourself considering a condo as an investment - read this first!


Condos can make a wonderful investment, but there is research that must be done to ensure that you avoid some common pit-falls. Every condo community has a unique story to tell, and each Homeowners Association (or HOA) should be thoroughly investigated. Take a look through our 'Top 5 Things to Research When Buying a Condo' list below.


1. Is The Complex FHA Approved?

Even if you are not an FHA buyer - this is something to consider. FHA loans allow a very small percentage down-payment, and for many lower price point buyers, FHA loans are their only option. If your complex is not FHA approved, you may limit the pool of Buyers who could consider your property when you go to sell it.

2. What Is The Ratio of Owner-Occupied Units vs. Rentals?

This statistic is something a simple phone call to the HOA office can reveal. Not only will it have an impact on the FHA approval of the complex, it will also give you an idea of how many rental units exist in the building. Banks consider non-owner occupied units to be 'higher risk'.

3. What Do The Financials of the HOA Look Like?

A homeowners association should have Financial Statements as well as 'Meeting Minutes' from recent HOA meetings available upon request. Take the time to review these in detail! The HOA should have a good amount of cash in their 'reserves' account, to manage any building wide maintenance issues or unexpected expenses that should arise in the future. A lack of 'reserves' may result in unexpected 'Special Assessments' that owners will end up having to pay (on TOP of any monthly or quarterly HOA fee). Make sure that the the reserves are in line with the size of the complex, and that the financial statements are readily available.

4. What Is The Delinquency Rate For The Complex?

The delinquency rate will tell you what percentage of units are behind in paying their HOA fees. This may give you insight into the financial health of the HOA and consequently, the financial health of the owners in the complex. Nothing is worse than having your property depreciate in value because of an overwhelming number of foreclosures or distressed properties in the complex!

5. Is There Any Pending Litigation Which Involves The Complex?


This is another question to ask your HOA contact. Lawsuits against the HOA or against the Builder of a complex can have a real impact on the ability to sell your property! In addition, you will want to be sure of any issues that exist in the complex which resulted in litigation to begin with...



Some other considerations...
Consider searching other sources for information about the condo complex you are investigating as well. Some of our ideas...

Google

Google is your friend. Google the name of the complex... you never know what you'll find!

Craigslist
Do a search for rentals in the complex to get an idea of what units are going for in the rental market

Search the Denver Bedbug Registry

As gross as this may sound, you'd be surprised to read some of the reviews of big condo buildings. Some property management companies are very responsive to this type of problem, and some do nothing... make sure there isn't a reported infestation in the building you are considering!

Tuesday, November 2, 2010

Denver LeafDrop Program

Autumn Alert from Denver Recycles

DON’T THROW THOSE LEAVES IN THE TRASH:

DENVER LEAFDROP TO THE RESCUE!

LeafDrop gives residents the opportunity to keep leaves off the street and out of the trash this fall

Denver Recycles’ LeafDrop program will once again provide Denver residents with the opportunity to recycle their leaves this fall. This year’s program adds a Saturday-only drop site and an additional Sunday drop site in southeast Denver.

LeafDrop is an environmentally responsible way to dispose of leaves. Leaves should never be swept into the street because they can clog storm sewers and hamper street sweeping efforts. Keeping leaves out of the trash also reduces the amount of waste in the landfill and “overflow trash” in the fall.

All the leaves collected at the drop sites will be composted over the winter and available for purchase at a deep discount in the spring at the Denver Recycles’ annual Treecycle Mulch Giveaway and LeafDrop Compost Sale. Last year 320 tons of leaves were collected and composted!

What To Do:

Leaves may be brought to the drop-off sites in plastic bags, or even better, in brown paper yard debris bags. Unlike plastic bags, brown paper bags can be composted with your leaves. Many hardware and home improvement stores sell paper yard debris bags. Leaves dropped off on weekdays must be bagged.

On Saturdays and Sundays, leaves can be brought in reusable containers or tarps that we will empty and give back to you. Bagged leaves are also accepted on weekends. It’s important to make sure leaves do not contain branches, trash or other materials.

LEAFDROP DATES AND LOCATIONS:

PLEASE NOTE: Leaves will not be accepted outside of the dates/times below and all sites will be closed on holidays

NEW! SATURDAY DROP-OFF:

  • Oct. 30, Nov. 6 and Nov. 13, Noon to 4 PM at the Denver Solid Waste Transfer Station located at 7301 E. Jewell Avenue (near Quebec St. & Cherry Creek Drive South).

SUNDAY DROP-OFF: Oct. 31, Nov. 7 and Nov. 14, 10 AM to 3 PM at the following locations:

Denver Solid Waste Transfer Station (SE Denver) – 7301 E. Jewell Ave.

Sloan’s Lake Park (NW Denver) – 17th Ave. & Sheridan Blvd.

JFK High School (SW Denver) – Newland St. & Brown Pl.

Cranmer Park (East Denver) – 3rd Ave. & Clermont St.

Smiley Middle School (NE Denver) – 26th Ave. & Holly St.

South High School (SE Denver) – Louisiana Ave. & Franklin St.

WEEKDAY DROP-OFF: Monday through Friday from Oct. 4 to Dec. 3, 7:00 AM to 2:30 PM, bagged leaves only may be brought to either the Havana Nursery (10450 Smith Rd.) or the Denver Solid Waste Transfer Station (7301 E. Jewell Ave.).

For more information on LeafDrop or to check for extreme weather cancellations, call 3-1-1 or visit www.DenverGov.org/DenverRecycles

Be The Denver Difference! Organize a LeafDrop clean up this fall with your neighbors and work together to gather all the leaves on your block! Working together means more efficient raking and fewer trips to the drop off locations. It’s also an opportunity to help neighbors who can’t do it themselves.

Tuesday, August 31, 2010

Home Prices UP?

Denver home prices up 1.8% in June from 2009, says Case-Shiller Index


This local Denver Business Journal article is a breath of fresh air among national reports.


Tuesday, August 24, 2010

Home Refinancing Demand At Highest In 15 Months!

NEW YORK (Reuters) – U.S. mortgage applications leaped last week as rock-bottom interest rates lifted demand for home refinancing to its highest level in 15 months, a development that could portend stronger economic growth.

Home loan refinancing puts extra cash into consumers' hands that can be used to pay off existing debt or funnel money into the economy through extra spending.

By lowering a monthly mortgage payment it may also help some homeowners avoid default and foreclosure if their credit is good enough.

LINK TO FULL ARTICLE HERE

Tuesday, August 17, 2010

Denver Region Seeing Fewer Price Cuts; Values Up Since March 2009

This promising article shows some great data about the Denver area, and how well we've fared through this housing market compared to the rest of the nation. Check it out:

Wednesday, August 11, 2010

The Future of Sloan's Lake!

Sloans Lake construction has begun - for what will be a drastically improved community park! The following article gives detail on the plans for the park which include improvements to the water quality as well as aesthetic appeal. Completion is set for Spring of 2011 - Read full details below.

Thursday, August 5, 2010

Just Listed in Historic Part of Highlands


This Harkness Heights beauty is remodeled from top to bottom. Don't miss an opportunity To see this beautiful home! New bamboo floors, totally remodeled baths, top floor master suite, new kitchen includes custom cabinetry, concrete counter tops, stainless appliances - and more. Too many features to list...

Virtual Tour at: www.4142Knox.Info


Friday, July 30, 2010

Despite Foreclosure Rate, Rental Market In Denver Is Going Strong!

If you've considered owning rental property in Denver, and need a nudge - check out this article from Denver's Business Journal. With interest rates still historically low, how's that for incentive?

We have access to all the latest income-property listings, and would be happy to set up a customized search based on your target areas and price range. Contact us to find out how you can take advantage of this market, and become a landlord yourself!

Tuesday, June 22, 2010

Denver Rated 3rd-best City For College Grads!

Thinking of relocating to the Denver Area? You may want to check out the following article from the Denver Business Journal to help convince you!

This study found Denver to be one of the best job markets for those fresh out of school - while still offering affordable housing.
Read More at the following link:

Saturday, June 5, 2010

PRICE REDUCED $10K ON MAYFAIR RANCH

*CONTRACT PENDING*

Visit www.955Fairfax.Info for More Photos

Now Listed for just $323,800 - this home is extremely well priced. This home features 3 large bedrooms, a luxurious master suite complete with walk-in closet, plus a bonus area/study off kitchen, a large backyard, and an attached garage. All this, and it's FULLY REMODELED! Vaulted ceilings, open-concept, stainless steel kitchen & spa-like travertine bathrooms.


FasTracks - Denver Lightrail Maps

RTD's FasTracks project is bringing public transportation to many parts of our great city, and is a great project to follow if you are considering investing in real estate. Many neighborhoods are affected. Is yours?


Link to the project's homepage below for project progress, maps and all the latest!


Wednesday, May 19, 2010

Featured Denver Neighborhood: Highlands

The Denver Highlands neighborhood is broken into two areas, 'Highland' and 'West Highland' - together 'The Highlands'. Located just a few minutes from Downtown, this neighborhood is full of charm, local-businesses & some of the most popular restaurants, bars and shops in Central Denver!

Wednesday, May 5, 2010

Have You Seen The Latest 5280??



Once again, 5280 Magazine has rated the HOTTEST neighborhoods in Denver. Although the list has looked similar in years past, there are some nice changes this year! A few of the surprises....




West Wash Park
West Berkeley/Regis

Jefferson Park
East Sunnyside
West Sloans Lake


Check out the full article HERE!

Monday, April 26, 2010

Shopping For A Fixer-Upper? Consider An Income Property!

If you are shopping for a fixer-upper, have you considered an income property as an alternative to a traditional home or duplex? Owner-occupied rental properties can usually qualify for lower interest rates, and can provide a nice stream of income for homeowners who are willing to be landlords.


There are a number of properties currently listed in the $240 - 400K range that have anywhere from 2 to 5 separate units! Consider the possibilites of purchasing a home to live in (and rent!) while you fix it up... options include a duplex, triplex, row homes or a single family home that has been converted into separate condos!

Contact us for more information, and for a list of available income properties.

Thursday, April 1, 2010

First Time Homebuyer Purchase In Old Littleton

Clients Joe & Peggy will have no problem calling this kitchen their own! Their new home features a park-like backyard, huge finished basement, enormous workshop in a fully heated garage, and it's all located just a short stroll from the heart of Downtown Littleton.

Wednesday, March 31, 2010

Just Listed in Mayfair/Park Hill Area!

Wall to Wall Remodel ~ Listed At $333,800
955 Fairfax Street, Denver CO 80220


This is a beautiful ranch home with all the modern features Buyers demand! Centrally located just minutes from downtown. View Virtual Tour At: www.955Fairfax.info
  • 3+ Bedrooms / 2 Baths
  • Master Suite
  • Stainless Kitchen
  • Vaulted Ceilings
  • Modern, Open Layout
  • Over-sized Bedrooms
  • Slate / Wood Floors Throughout
  • Spa-Like Travertine Bathrooms
  • Huge Master Walk-In Closet
  • New Furnace
  • Whole House Humidifier
  • Central A/C
  • Large Yard For Entertaining

Saturday, March 6, 2010

Sloans Lake Duplex - SOLD!



Congratulations to client Kristi, who as a first time home buyer closed on this totally remodeled duplex just blocks from Sloans Lake!

Wednesday, February 10, 2010

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