Low Inventory & Bidding Wars Make Competition Fierce In Denver Housing Market

It's a Seller's market here in Denver - across the Metro area.  Inventory levels are LOW - and demand is HIGH.  Check out this video report from 9news.com!

VIEW ARTICLE HERE

COMING SOON - Beautiful 3bd/3ba in NW Denver

Shopping in Highlands?  Stay tuned for this up-and-coming two-story half duplex, close to all the amenities of NW Denver!  Coming soon...

NW Denver Half Duplex - Just Listed!

Check out this adorable, completely updated Highlands half-duplex.  You can't beat the walkability of this location, and the modern features paired with original charm.  Wood floors, tons of exposed brick walls, private deck and yard and even has a garage!  Here are some highlights:

3625 W. 33rd Avenue

2bd/1ba w/ Garage

$285,000

Call Kari (303) 909-0906 for more information about 

3625 W. 33rd Avenue!

JUST LISTED! New Re-Sale Listing At SPIRE Denver

 $395,000 (with 1 parking space)

$425,000 (with 2 parking spaces)

Two (Interior) Parking Spaces Available; Unit Includes Washer / Dryer!

Immaculate Condition - Includes More Than A New Unit!

Private Balcony W/ Mountain Views

2bd/2ba Arapahoe Model (Builder Is Sold Out Of This Model!)

Click Here For Link To Virtual Tour

Remodeling Magazine - COST vs. VALUE Report (2011-12)

This is always an interesting report to look at when considering renovations.  It's specific to different markets, updated annually, and breaks out the data by specific renovation.  Here is a link to the Denver study.  Happy number-crunching!

COSTvsVALUE - Denver Market 2011-12 - View HERE

Denver Real Estate Market Needs Sellers!!

CBS Denver reports that in some price ranges, Denver housing inventory is down by as much as 36% from the levels at the same time last year.  Thinking of selling?  This may be a great time to capitalize on a low-inventory market!

READ FULL ARTICLE HERE!

Boulder Is #1 of Top 10 Housing Markets Nationally - MSN Reports

Nearly 60% of Homes In Boulder Have Increasing Property Values, According To MSN's '10 Strongest Housing Markets' Report

"Boulder, about 35 miles northwest of Denver, has had a relatively stable housing market, in part, because it is home to strong employers, including the University of Colorado, as well as a base of affluent residents. The supply of homes is limited in Boulder by the mountains to the west and its tens of thousands of acres of protected open space...."

READ MORE ON MSN: FULL ARTICLE HERE

Now Under Contract!

Another NW Denver Home - Contract Pending!

ADORABLE HIGHLANDS BUNGALOW - NOW UNDER CONTRACT!

3129 W. 25th Avenue

Mid-Century Between Sloans Lake & Highlands

2749 Vrain Street Denver CO 80212
Just Listed at $459,900!

Here Is A Sneak Peak At This Charming Ranch - Just 2 Blocks North Of Sloan's Lake Park!

Broker Open - Wednesday Aug. 3rd!

BROKER OPEN: 3129 w. 25th Avenue Denver, CO 80211
Stop By For Lunch 11:30 am - 1:30 pm

Brokers, Join Us At This Charming Highlands Home Wed. Aug. 3rd Between 11:30 And 1:30. Share Your Feedback, And Enjoy Lunch - Catered By A Highlands Favorite, Coral Room. Call Kari At (303) 909-0906 For Any Details Or Directions!

On the menu: BLT Wraps, Tomato & Mozzarella Paninis, Fresh Baked Chocolate Chip Cookies & More!

Denver Is Fastest Selling Market In The US?!? - The Denver Post Reports

Quoted from the Denver Post Article...

"This may come as a shock to people struggling to sell their homes in the Denver area, as well as Realtors listing homes, but in May, homes on average sold faster in Denver than any place in the nation, according to an analysis of 146 metropolitan areas tracked by Realtor.com.

May marked the second consecutive month that Denver had the boasting rights as the No. 1 metropolitan area for home sales speed in the country, according to Realtor.com, which is owned by the National Association of Realtors.

The Realtor.com report shows that it took only an average of 39 days to sell a home in the Denver area in May. That is 11.4 percent faster than the 44 days it took in April."

Read more: Denver nation's fastest selling market - The Denver Post http://www.denverpost.com/realestate/ci_18320716#ixzz1Q7eeWRRT

Amazing Highlands Bungalow!

For Sale $339,900!
3129 W. 25th Avenue Denver, CO 80211
Exclusively Marketed By Kari Wisenbaker - Keller Williams Realty Downtown

Adorable NW Denver Bungalow- Near Highlands Square & Sloans Lake! Features Include Large Master w/Two Closets, Lots Of Living Space, Over-sized Three Car Garage + 1 Off-Street Space, And Fabulous Outdoor Space.

VIEW VIRTUAL TOUR HERE

Park Front Home In Ken-Caryl Valley!

Amazing Park-Front Home Offered At $489,900
15 Mountain Oak Littleton, CO 80127
Exclusively Marketed By Kari Wisenbaker - Keller Williams Realty Downtown

This beautiful 4 Bed/4 Bath Village home has the perfect Ken-Caryl Valley location and all the upgrades. Sought-after lot facing Heirloom Park, and positioned at the end of a quiet cul-de-sac. Among the features are a completely remodeled kitchen, top of the line appliances, tile & hardwoods throughout, new master bath and finished basement large enough for a media room or additional bedroom. Best block in Heirloom!

CLICK BELOW FOR A VIRTUAL TOUR!

What Would A Government Shutdown Mean For Housing?

The National Association of Realtors put out this summary - which tries to estimate the functions of various government programs in a Government Shut Down scenario. This is specifically written to discuss the impact to Real Estate programs and Housing. (Source: NAR)

What a Government Shutdown Means for REALTORS®

(April 5, 2011)

The current continuing resolution (CR) providing funding for government operations is set to expire on April 8, 2011. If legislation providing for funding is not signed into law to extend funding after April 8, the federal government could shut down. This means many, but not all, government programs, including some that impact federal housing and mortgage programs, could grind to a halt as early as April 9, 2011. While the true impact of a shutdown is unclear until it actually begins below is a synopsis of how federal housing programs will likely operate in the event of a shutdown. The Office of Management and Budget (OMB) requires each agency to have contingency plans in place and reportedly has instructed agencies to not provide specific information on impacted operations.

Federal Housing Administration

FHA cannot offer endorsements for any new loans in the Single Family Program and cannot make commitments in the Multi-family Program in the event of a shutdown. FHA will maintain operational activities including paying claims and collecting premiums. Management & Marketing (M&M) Contractors managing the REO portfolio can continue to operate.

VA Loan Guaranty Program

Lenders may continue to process and guaranty mortgages through the Loan Guaranty program in the event of a government shutdown.

Internal Revenue Service (IRS)

Should the federal government shut down, the IRS cannot process federal income tax returns or issue refunds (but it can deposit tax payments). Consumers who were expecting to use their tax returns as part of the down payment for a home purchase will temporarily not have access to these refunds.

Flood Insurance

The Federal Emergency Management Agency (FEMA) confirmed that the National Flood Insurance Program (NFIP) will not be impacted by a government shutdown.

Rural Housing Programs

For the US Department of Agriculture programs, essential personnel working during a shutdown do not include field office staff who typically issue conditional commitments, loan note guarantees, and modification approvals. Thus, lender will not receive approvals during the shutdown. If the lender has already received a conditional commitment from the Rural Development office, then the lender may proceed to close those loans during the shutdown. A conditional commitment, which is good for 90 days, is given to a lender once a USDA Underwriter approves the loan. If a commitment was already issued, the funds were already set aside and the lender may close the loan at its leisure. If Rural Development has not issued a conditional commitment, the lender must wait until funding legislation is enacted before closing a loan.

Government Sponsored Enterprises

Fannie Mae and Freddie Mac will continue operating normally, as will their regulator, the Federal Housing Finance Agency.

Treasury

No official word as of yet, but the Making Home Affordable program, including HAMP and HAFA, may not be affected as the program is funded through the Emergency Economic Stabilization Act which is mandatory spending not discretionary.

Background Information on Government Shutdown

HJ Res. 48 extends the Continuing Appropriations Act, 2011 (Public Law 112-6) to April 8, 2011. If another continuing resolution (CR) or budget is not signed into law, the federal government could shut down on April 9, 2011. This requires the furlough of non-emergency personnel and the curtailment of federal agency activities. Federal contractors cannot be paid. Programs funded by annual appropriations are directly impacted though programs funded by laws other than appropriations (such as Social Security) may also be impacted. The last government shutdown occurred during fiscal year (FY) 1996 and lasted 21 days, from December 16, 1995 through January 6, 1996.

The Antideficiency Act is the primary law preventing government activity when no budget or CR is enacted. The act, found in 31 U.S.C., prohibits:

• Making or authorizing an expenditure from, or creating or authorizing an obligation under, any appropriation or fund in excess of the amount available in the appropriation or fund unless authorized by law.
• Involving the government in any obligation to pay money before funds have been appropriated, unless otherwise allowed by law.

• Accepting voluntary services for the United States, or employing personal services not authorized by law, except in cases of emergency involving the safety of human life or the protection of property.

• Making obligations or expenditures in excess of an apportionment or reapportionment, or in excess of the amount permitted by agency regulations

Basically, the government may not make payments or commitments unless there is enough money in the bank. According to the US Office of Personnel Management, an agency must shut down activities not excepted by the US Office of Management and Budget (OMB) when it no longer has the funds to operate. OPM recommends that agencies 1) communicate with employees and representatives about a potential shutdown, 2) prepare draft furlough notices, and 3) determine which positions are excepted from the furlough according to OMB guidance.

Federal agencies have been required to complete contingency plans since 1980. OMB has three different bulletins that agencies may reference in the development of their shutdown plans. Plans must include, among other things, estimated time to complete a shutdown and the number of employees to be excepted. The President, Members of Congress, presidential appointees, certain legislative branch employees, and federal excepted employees are not subject to the furlough.

Sources

House Resolution 3082, “An Act making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2010, and for other purposes.” http://www.gpo.gov/fdsys/pkg/BILLS-111hr3082eas2/pdf/BILLS-111hr3082eas2.pdf

Antideficiency Act Background. US Government Accountability Office. http://gao.gov/ada/antideficiency.htm

Guidance and Information on Furloughs. US Office of Personnel Management. http://www.opm.gov/furlough/furlough.asp