MyTownCryer

SUPER Joe Hubert Is Back W/His January, 2012 Denver Market Update

Tom Cryer — Fri, 17 Feb 2012 23:11:56 +0000

Hi Tom,

A good start to the year with single-family home sales increasing 15.6% and condos sales increasing 10.4% compared to last January. The trend of fewer homes on the market continues with a 39% reduction in single-family homes on the market. Absorption rate has also decreased to a 4.4-month supply in the greater Denver Metro area. When do you think home prices will start to rise?

Just a reminder that you can always get the latest real estate stats for any mls area on my web site at LandTitleMarketingSolutions.com. This is link to a click-able metrolist map that has full reports for all areas.

January – 2011 Real Estate Market Update
Entire MLS (All Areas)

Residential Highlights
15.5% Increase in closed sales year over year
45.1% Decrease in Absorption Rate (4.4 months)
39.1% Decrease in active listings (8,356)
2% Decrease in average sold price ($272,328)
Condo/Townhome Highlights
10.4% Increase in closed sales year over year
50% Decrease in inventory (2,087)
2.4% Decrease in average sold price ($146,544)

Do you need a Home Inspection, Stucco Inspection or an EIFS probe?

Tom Cryer — Thu, 16 Feb 2012 23:08:46 +0000

Stucco is a popular way to customize the exterior of a home or business. While the materials and designs have improved tremendously the actual installation still needs to be inspected and maintained.Today many EIFS and Stucco homes are painted in preparation for sale. The paint makes the house look good but can serve to hide many of the signs that there are problems with the house. Painting may help the seller but can be very expensive to the buyer, their realtor and home inspector.Most home inspectors do not perform full standalone EIFS/Stucco inspections; they opt to refer their client to a third party EIFS/Stucco inspector specialist. I perform both home and stucco inspections and offer a significant discount for a combined home and stucco inspection. Trinity Property Inspection reports are computer generated and include digital photography of issues and concerns.

The Water Is Warm – Solve the Housing Puzzle – Dive into Homeownership

Tom Cryer — Wed, 08 Feb 2012 23:17:19 +0000

The Water Is Warm – Solve the Housing Puzzle – Dive into Homeownership.

Denver Real Estate in 2012

Tom Cryer — Tue, 07 Feb 2012 22:20:10 +0000

We Are Denver Real Estate

Kentwood is a member of the highly recognized Leading Real Estate Companies of the World. ( 2011 Award of Excellence Nominees Referral Production ) Through this membership, we have first-hand access to highly qualified agents to assist your friends, family and associates nationally and also internationally!

Leading Real Estate Companies of the World^® is a global network of 550 premier real estate firms with 4,600 offices and 140,000 sales associates in 30 countries around the world.

Collectively, this group sold 800,000 homes worth $225 Billion last year, more than any national real estate brand.
LeadingRE dominates the United States’ list of top 500 real estate firms, with more of the Number One Market Leaders in the top 96 markets than any national brand.

Any referral that is placed through me at Kentwood whether it is outgoing to Boulder, Bailey, Basalt, or Maine to Mexico and beyond, we are here to help!

Our highly trained and experienced staff is here to arrange and continuously monitor our referrals – no matter the company, area, or criteria, BIG or small; we will assure your loved one, friend or associate receives the highest degree of care. Additionally, we will comfort you by providing appropriate feedback and follow-up. It is truly a “win-win” for everyone involved.

On another note, “Kentwood Real Estate was recently recognized by Realtor Magazine, the official publication of the National Association of Realtors, as the #1 real estate brokerage firm in the country for the highest closed sales production per Broker Associate on an annual basis!”

Hidden Charms Found in Centennial Neighborhood

Tom Cryer — Tue, 07 Feb 2012 00:36:45 +0000

Hidden Charms Found in Centennial Neighborhood.

The 10 Most Common Mistakes Home Owning Tax Payers Will Make This Year

Tom Cryer — Fri, 03 Feb 2012 23:11:36 +0000

Tax Wordie 2012

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.

Sin #1: Deducting the wrong year for property taxes

You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2011 property taxes until 2012. But that’s irrelevant to the feds.

Enter on your federal forms whatever amount you actually paid in 2011, no matter what the date is on your tax bill. Dave Hampton, CPA, tax manager at the Cincinnati accounting firm of Burke & Schindler, has seen home owners confuse payments for different years and claim the incorrect amount.

Sin #2: Confusing escrow amount for actual taxes paid

If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed, says Bob Meighan, CPA and vice president at TurboTax in San Diego. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two.

For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200. Your lender will send you an official statement listing the actual taxes paid. Use that. Don’t just add up 12 months of escrow property tax payments.

Sin #3: Deducting points paid to refinance

Deduct points you paid your lender to secure your mortgage in full for the year you bought your home. However, when you refinance, says Meighan, you must deduct points over the life of your new loan. If you paid $2,000 in points to refinance into a 15-year mortgage, your tax deduction is $133 per year.

Sin #4: Failing to deduct private mortgage insurance

Lenders require home buyers with a down payment of less than 20% to purchase private mortgage insurance (PMI). Avoid the common mistake of forgetting to deduct your PMI payments. However, note the deduction begins to phase out once your adjusted gross income reaches $100,000 and disappears entirely when your AGI surpasses $109,000. Also, unless Congress acts to extend the PMI deduction again, 2011 is the last tax year for which you can take this deduction.

Sin #5: Misjudging the home office tax deduction

This deduction may not be as good as it seems. It’s complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your home, and can pique the IRS’s interest in your return. Hampton’s advice: Claim it only if it’s worth those drawbacks. If so, here’s what to know about what you can write off.

Sin #6: Missing the first-time home buyer tax credit

While the original home buyer tax credit deadline passed in April 2010 (and isn’t available in 2012), military families and some government workers on assignment outside the U.S. were given an extension until April 30, 2011, to get a home under contract and take advantage of up to $8,000 in tax credits for first-time buyers and $6,500 in credits for repeat buyers.

It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

Sin #7: Failing to track home-related expenses

If the IRS comes a-knockin’, don’t be scrambling to compile your records. Many people forget to track home office and home maintenance and repair expenses, says Meighan. File away documents as you go. For example, save each manufacturer’s certification statement for energy tax credits, insurance company statements for PMI, and lender or government statements to confirm property taxes paid.

Sin #8: Forgetting to keep track of capital gains

If you sold your main home last year, don’t forget to pay capital gains taxes on any profit. However, you can exclude $250,000 (or $500,000 if you’re a married couple) of any profits from taxes. So if you bought a home for $100,000 and sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains. However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523.

Sin #9: Filing incorrectly for energy tax credits

If you made any eligible improvement, fill out Form 5695. Part I, which covers the 30%/$1,500 credit for such items as insulation and windows, is fairly straightforward. But Part II, which covers the 30%/no-limit items such as geothermal heat pumps, can be incredibly complex and involves crosschecking with half a dozen other IRS forms. Read the instructions carefully.

Sin #10: Claiming too much for the mortgage interest tax deduction

You can deduct mortgage interest only up to $1 million of mortgage debt, says Meighan. If you have $1.2 million in mortgage debt, for example, deduct only the mortgage interest attributable to the first $1 million.

This article provides general information about tax laws and consequences, but shouldn’t be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

By: G. M. Filisko Published: January 5, 2012

The Water Is Warm – Solve the Housing Puzzle – Dive into Homeownership

Tom Cryer — Fri, 27 Jan 2012 17:36:07 +0000

2011 Was an unbelievable year. Uncertainty was the theme throughout the year, “volatility” was a daily lead on the business news and the housing market was put to the test with regulation after regulation. One thing is sure, however, households still want to be homeowners!

During the peak of the “housing bubble” we pushed 70% of households as homeowners. Today, we are +/-65%, and a Morgan Stanley report said we are going to 60% before it’s all over. Through it all, homeownership rings home as the number one goal of families and households wishing to become part of a broader community.

The chart below represents the trend in listing activity for residential properties in the Denver Metro Area through the first month of 2012.

Our days of oversupply are apparently behind us. Can you read this trend any other way?

Below, is the consumer confidence index as provided by http://www.advisorperspectives.com, which tells us, we are at pretty low levels.

The following chart is a history of interest rates from Quicken Loans and FNMA/Freddie Mac.

Below that is a trend line of closed transactions in the Denver Metro MSA over the last 30+ years. Stitching this all together in an understandable way, there is only one rational conclusion that can be made by any household that does not own a home. Now is the time!

As the very notorious Warren Buffet is credited with saying, “When people are being greedy, be cautious. When people are cautious, be greedy”. Can you imagine advice that was any more appropriate than that right now? People are buying at a very cautious rate. Rates are low. Inventory is low.

I don’t believe I’m going out on a limb right now by saying, “Now is the time to become a home owner. Now is the time to move up. Now is the time to own investment property.”

A renter in Denver right now is in the most enviable position of all. It is clearly possible to become a homeowner for less than being a tenant.

The window of opportunity swings open and closed over the course of one’s life. The window is unquestionably open now. Don’t kick yourself in a few years looking back and saying, “I could have…”.

Home Ownership By Age Group

Cherry Hills Village vs. Greenwood Village Smack Down

Tom Cryer — Fri, 27 Jan 2012 00:39:43 +0000

Highline Canal

OK, you live in Denver, you’re relocating to Denver, or you have just always wanted to live in one of Denver’s prestigious residential communities. So today, employing 2012 and prior years data, let’s have a smack down: which is the most affable, economical and beneficial choice between Cherry Hills Village, and Greenwood Village? Please note Greenwood Village has been divided between Cherry Creek and Littleton School Districts. Cherry Hills is located entirely within Cherry Creek School District.

Additionally, there are many parameters assisting home buyers with their choice matrix. The one’s employed in this analysis are primarily economic centric.

First, let’s look at Cherry Hills Village, Colorado. Cherry Hills have virtually no commercial zoning. As a result, its property taxes are the highest on average. On the other hand, it has very little “tract type” development, so it has the largest average site sizes. This results in the highest average price, and the highest average price per square foot of above grade finished area.

Advantage for Category

CHERRY HILLS VILLAGE	AVERAGE PRICE CHANGE ANALYSIS		TRANSACTION VOLUME COUNT

12 MONTHS PRIOR 2012	-5.50%		92
12 MONTHS PRIOR 2011	0.80%		54
12 MONTHS PRIOR 2010	N/A		54
AVERAGE PRICE/SQ.FT.	$288	AVERAGE PRICE	$1,358,737
AVERAGE SITE SIZE	41,961 SF	AVERAGE TAXES	$12,930

Next, let’s take a look at Greenwood Village feeding into the Cherry Creek School District. It has the most “tract type” development, and as a result, by far has the smallest average site sizes. Additionally, its average property tax is less than half that in Cherry Hills Village. It is the economical choice.

GREENWOOD VILLAGE SSE	PRICE CHANGE ANALYSIS		TRANSACTION VOLUME ANALYSIS

12 MONTHS PRIOR 2012	3.50%		60
12 MONTHS PRIOR 2011	-1.40%		66
12 MONTHS PRIOR 2010	N/A		74
AVERAGE PRICE/SQ.FT.	$236	AVERAGE PRICE	$687,543
AVERAGE SITE SIZE	16,963	AVERAGE TAXES	$5,598

Last, but clearly not least, a portion of Greenwood Village, Colorado feeds into the Littleton School district. Due to its size, the volume of sales is significantly less than the other two areas surveyed, but there are some important facts to observe. This area has very few “tract style” developments and the average site size is up from the other portion of Greenwood Village.

GREENWOOD VILLAGE SSC	PRICE CHANGE ANALYSIS		TRANSACTION VOLUME ANALYSIS

12 MONTHS PRIOR 2012	-11.2		45
12 MONTHS PRIOR 2011	18.3		36
12 MONTHS PRIOR 2010	N/A		28
AVERAGE PRICE/SQ.FT.	$280	AVERAGE PRICE	$1,124,436
AVERAGE SITE SIZE	31,406	AVERAGE TAXES	$9,271

So, those of you still with me are asking, well? Well, I’ve lived and worked in and around both of these communities for many years. I’ve friends, clients and associates living in both communities, and here’s my answer. If you are a Freegan like me, Greenwood Village wins hands down. Its tax structure from a City Budget having a very diverse source of income will continue to win the battle of tax rates for many years to come. It also has areas of town with very large sites like Cherry Hills, and it has areas with very “affordable” homes very close to employment centers.

On the other hand, Cherry Hills Village has some very special streets and communities clearly setting the standard for high end “Mansion” type living that out stripes Greenwood Village.

All told, it is easy to see why both communities demand their current price levels, attract the following of home buyers constantly working to obtain the status of these addresses and enjoy the lifestyles available to their owners.

So, what’s the answer to this Smack down Question? For me, it would be Greenwood Village, but for you, there might be a more pressing issue in your decision matrix. Let me help you find your dream home.

CHRISTIE’S INTERNATIONAL REAL ESTATE STRENGTHENS POSITION IN COLORADO WITH ADDITION OF KENTWOOD REAL ESTATE

Tom Cryer — Thu, 26 Jan 2012 23:31:36 +0000

FOR IMMEDIATE RELEASE

January 27, 2012

Contact:

Lisa Bessone, Christie’s International Real Estate 505-983-8733 lbessone@christies.com

Douglas E. Lierle, Lierle Public Relations, 303-792-0507,

lierlepr@comcast.net

CHRISTIE’S INTERNATIONAL REAL ESTATE STRENGTHENS POSITION IN COLORADO WITH ADDITION OF

KENTWOOD REAL ESTATE

Kentwood Joins Leading International Network of Real Estate Brokers Specializing in the Marketing and Sales of High-value Properties

New York, New York—Christie’s International Real Estate, the world’s leading luxury real estate network, has awarded Affiliate status to Kentwood Real Estate with a total of approximately 165 real estate professionals operating from three strategically-located offices in Denver. Kentwood will exclusively represent the Christie’s brand in the metro Denver area.

Wholly owned by Christie’s, the world’s leading art business, Christie’s International Real Estate is represented in more than 41 countries. Kentwood Real Estate joins this carefully selected organization of brokerages with proven records of success in both high-end property sales and exemplary client service.

“Kentwood Real Estate has established a reputation for integrity, discreet client service, and exceptional professionalism that has won the company respect throughout the Greater Denver market,” says Zack Wright, Senior Vice President of Christie’s International Real Estate. “The brokerage is comprised of an exceptional team of the area’s top luxury real estate professionals. We are delighted to invite the company to join the globally-renowned Christie’s International Real Estate network.”

Christie’s is the largest international real estate network in the world and nearly twice the size of its closest competitor with 1,112 offices and 32,300 real estate professionals. There are more than 9,300 properties priced above $1 million posted on www.ChristiesRealEstate.com. In addition, numerous luxury homes can be viewed on Kentwood Real Estate’s website at www.DenverRealEstate.com.

There are nearly 600 luxury homes on the market in metro Denver priced at $1 million or more.

“We are very pleased to be affiliated with Christie’s International Real Estate,” said Peter Niederman, Chief Executive Officer of Kentwood Real Estate. “While we serve all segments of the real estate market in a wide range of prices, we are also firmly established as the leader in the luxury home market in metro Denver and select mountain communities. This is an exciting affiliation and we look forward to working with Christie’s experienced professionals in 2012 and beyond.”

Since its inception, Kentwood has had a high profile presence in Denver’s most affluent communities, including Cherry Hills Village, Castle Pines Village, Greenwood Village, Denver Country Club, Cherry Creek, Lower Downtown Denver and many more exclusive neighborhoods. Kentwood’s leading real estate professionals serve the luxury home buying and selling needs of corporate executives, professional athletes, philanthropists, entertainers, industrialists, doctors and lawyers, and others who have achieved financial success.

Luxury real estate in Denver is complimented by the city’s storied history, cultural attractions, and vibrant lifestyle. The Denver Art Museum is regarded as one of the finest in the country, and the Denver Museum of Nature and Science is among the most acclaimed institutions nationwide. Luxury real estate in Denver is among the most diverse in the country, ranging from breathtaking custom homes in new master-planned communities to luxurious lofts and penthouses in downtown Denver and extraordinary 18th and 19th century mansions in Denver’s historic neighborhoods.

ABOUT CHRISTIE’S INTERNATIONAL REAL ESTATE

Christie’s, originally founded in 1766 by James Christie, pursued an innovative real estate venture in 1995 by acquiring Great Estates, a luxury real estate network founded in 1987 by Kay Coughlin. Christie’s International Real Estate is an Affiliate network by invitation only to the world’s most proven and qualified real estate specialists. The company has central hubs in London and New York; field offices in Beverly Hills, California, and Palm Beach, Florida; an operations centre in Santa Fe, New Mexico; and circa 129 Affiliates in Europe; North, Central, and South America; and the Caribbean as well as Asia, Africa, and Oceania. In 2010, new Affiliates were signed in Mallorca, Spain; Milan, Italy; Stockholm, Sweden; Bordeaux, France; Luxembourg; Cancun; Cayman Islands; San Juan, Puerto Rico; and Toronto, Canada, as well as in the U.S., including Stowe, Vermont; Nantucket and Boston, Massachusetts; and Guildford and Ridgefield, Connecticut.

For additional information about Christie’s International Real Estate, please contact Lisa Bessone, Director—Global PR and Communications, at +1 505 983 8733 or visit www.christiesrealestate.com

ABOUT KENTWOOD REAL ESTATE

Since 1981, Kentwood Real Estate has been the most trusted name in metro Denver real estate. Locally owned and operated, Kentwood’s experienced real estate professionals are ranked among the top-producing Realtors in America. Kentwood Real Estate is dedicated to its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced sales team in the country, offering the highest quality customer service experience. Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position.

Kentwood Real Estate is comprised of The Kentwood Company in the Denver Tech Center, Kentwood Company at Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.

# # #

The Bluffs Regional Park – Lone Tree, Colorado

Tom Cryer — Tue, 24 Jan 2012 19:00:14 +0000

Bluffs Regional Park Trail Map

I like the walk. I like walking because I can think while I am doing it. More physical sports demand more focus and do not allow for reflection. Walking does, however, and that my friends is why I like to walk.

I have been exploring nearby parks and open space locations, and The Bluffs Regional Park and open space access trails are perfect for a quick get away. Although you are never out of sight of residential development, it doesn’t feel that way.

I’ve ridden this trail once now, and I have walked it twice. It really is the perfect escape from the city while still being in the city, but isn’t that what open space is all about? We are fortunate in Coloradoto have Lottery

The First Turn Looking Back at the Parking Lot

proceeds earmarked for open space acquisition and maintenance. The Bluffs Regional Park is clearly an example of what long term planning and thoughtful development can do for a community.

Bluffs Regional Park Trailhead

Bluffs Regional Park Trailhead is well marked. Most of the time, parking is generous and access good.

There is a story of hard work, perseverance, planning and dedication that goes along with the Park, but if I told you the story here, you wouldn’t get off the couch and see, read and experience the trail for yourself.

What’s extraordinary about the park are its views. The park

This is the First Overlook

captured open space land that quite literally looks down on everyone, everything and all of Denver.

The views are beyond. I have to believe this might be the place to go on the 4th of July to see what Denver has to offer in the fireworks department. I’m posting some sample views here. Let me know what you think.

The trail is about 3.5 miles, and it can be leisurely walked in about a little over an hour. It is worth get out there to see what I saw…tc

The Second Overlook

Although it may seem like you can reach out and touch Highlands Ranch, Lone Tree and MacArthur Ranch, its really too far and too big. Just click on any of the pictures to enlarge the view. It is magnificent!