The Social Home Finding Experience!

What do you know about social media? Want to buy a home? Do your parents live in Minneapolis, but you want to buy in Austin? And to top it off, your husband travels constantly!  Email, Facebook, Twitter, Yelp, FourSquare, Google, YouTube, Flikr, Blogs and more may be part of your solution.

No big deal; Social Media was made for this! Bring family, friends and your Realtor together. Lean in on everyone. Make great decisions by committee! I’m not kidding, it’s all happening right now, today on “Main St. USA.

Documents are easily stored online in sharable files, video media, images and private blog pages can document everything.  If you really want to go out of on a limb check out something called Articulated Naturality Web.  ANW will allow internet users to post pictures that can be viewed by “smart phones” from the street, but with a significant twist. With the right camera, the images can be posted so they have a vertical dimension.  This is in addition to the standard flat GPS latitude and longitude.  This means when you hold your smart phone up to the property with the right application, photos of the interior of the house will pop up with there relative height within the structure revealed.  Amazing huh?

Hotels, museums, all kinds of commercial properties and more will be employing this technology as a guide, a source of information and a new paradigm of a reality. Literally looking into something will have a completely new meaning!

So Tom, are you saying the Virtual Home Purchase is here? Yes I am, but I’m also saying, it will never be a substitute for being present to look, touch and smell that new place to call home! Did I say never? Emeril has been working on Smell-o-vision for years. It could happen!  This video will really make you think about it, and maybe even tell a friend.  Enjoy!

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“Keep Your Eyes on the Road and Your Hands Upon the Wheel”

Realtors Make a Difference

As difficult as this market has been, the depressed prices, the fear, the uncertainty and the constant change, it is still fun being a Realtor.  First and foremost, Denver is a great place to live.  Next, the Denver market area has a fantastically diverse range of towns, communities and subdivisions offering everything from intense urban density to rural distant suburbs all within just a few minutes of each other.

Knowing this Denver Real Estate Market the way that I do, I giggle to myself frequently about the undertow of Realtor bias between urban, suburban and rural locations.  As an example, I can leave my house in the suburbs and be standing in front of “Spire”, a new high-rise right downtown in just about 20 minutes.  Homestead in the Willows is truly a hidden treasure. On the other hand, I can go 20 minutes in the other direction and be standing on 5-40 acres in Keene Ranch with views ranging from Longs Peak to the north past Mt. Evans in the middle all the way to Pikes Peak to the south.  By the way, I can garner that same view from the west side of Spire.  Like I said, it is truly a great place to live.

Second, the clients that come and go over the passing of time, offer up some of the purest opportunities for the observation of the human condition.  Extravagant, middle of the road and modest buyer’s and sellers in their own way, can participate in these same market areas.  Regardless of price, buyers and sellers all want the same results in this market.  They want a good value/price in a safe community.  The wave of these people over the course of time is very exciting.  Between egos, finances and external influences, the people side of the business is not to be missed.

Third, the “Art of the Deal” is a study in mosaic art.  Being a Realtor allows one the opportunity to assemble all the pieces one step at a time until the client whether it be buyer or seller is able to look at the pieces after closing and be completely satisfied with the the artwork.

Finally, the road to a successful transaction is littered with potholes.  Without appropriate help, it is very easy to bend a wheel, damage the car or even leave the road.  A Realtor’s assistance is a sure conduit to keeping your eyes on the road and your hands upon the wheel!

Whether it be the locational benefits, the people factor or the strategy of the deal, being a Realtor in Denver is among the best careers in spite of the market we must work within.

Click here for just a few facts about Realtors and why clients employ us.

Posted in Centennial, Denver, Denver Residential Real Estate, Homestead at Willows End, Homestead in the Willows, Homestead on the Parkway, The Timbers just south of Parker, Welcome to the City of Centennial | Leave a comment

Riptides and the Market – What do they have in common?

Stewart R. Massey recently wrote about the stock market, and I thought it was germain to the residential market right here in Denver.  “Here on the east coast the last weeks of August and early September brought hot, humid weather. Families from the Carolinas to Maine headed to the beach to enjoy the ocean breezes and a refreshing dip in the surf. The sea looks inviting in the waning days of summer but underneath the surface lay dangerous rip currents caused by a series of hurricanes moving northward far offshore.

Markets are acting a bit like the ocean now. The tide comes in on bits of good news (“better” economic data, strong corporate earnings, encouraging policy statements) and out on discouraging news (“bad” economic data, macro concerns, the negative bias of the media). The riptide this kind of market creates is volatility. Volatility creates short‐term aversion to risk, and to equities in particular. Nobody wants to go for a swim. They are happy to stay on the beach (fixed income and cash) and wait until the danger passes.”

What does all this have to do with Residential Real Estate in Denver?  Plenty!  External influences and their unintended consequences:

  • The various tax credits over the last couple of calendar years (Basically stealing buyers from the future)
  • Interest rates (Rising and Falling)
  • Inventory (High in some neighborhoods and price ranges and down in others)
  • Jobs, jobs and jobs
  • Available buyers and unavailable buyers (Quantifiable; yes, no, maybe?)

Many years ago, let’s say prior to 1970, but certainly prior to 1960, it was not uncommon to own a house for a career or lifetime and sell it for the same or less than it was purchased for a generation before.  But, with competition in the mortgage market for borrowers, two income families and the greater mobility of employees, all of a sudden, the family residence took on a new profile.  No longer being just shelter, in this new era, the home became an investment!

Let’s pull this all together.  Shelter becomes an investment, the government insures mortgages and corporate America becomes a driving force of interstate mobility.  Friction in the market was invented.  It has changed over the years to some degree but the average home owner has come and gone on a 3-7 year rotation.  This current market may cause some change in these numbers, but you get the idea.

Now, what are the dangers in our market in Denver with all these external influences?  If interest rates rise quickly or precipitously, this will drag this market to a standstill.  On the other hand, it tax credit programs resurface, the Denver market will run shortages in a relatively short time.  With so many owners becoming tenants due to short sale, foreclosure and bankruptcy credit issues, a more liberal underwriting process would swamp the market with a new wave of buyers, and could steal these tenants back into home ownership.  What if a change was made to retirement accounts allowing homeowners to save their homes without tax penalties, etc?  Wow, would than stabilize this market or what?

Right now, corporate mobility has been significantly impacted due to market conditions.  People just can’t take that job in Houston if their home in Denver can’t be sold.

Long story short, this market is healing, but even though the surface looks calm, there are dangers lurking below the surface, just out of sight.  Like they used to say on “Hill Street Blues”, “Be Careful Out There”.

Posted in 500 tax credit?, Bottom of the market, Buying or Selling Real Estate, First Time and Repeat Homebuyer Tax Credit Extension, Free Markets, Uncategorized | Leave a comment

Greenwood Village Fitness Festival

Fitness Festival

Once again the Kentwood Company participates in the 2010 Fitness Festival through the streets of Greenwood Village. This run, walk, fun run and post festival gathering continues to grow!

Sponsorship and attendance was up!  Ed McCaffrey was the opening act and started the runners.  Smoky Hill’s Marching Band was right on cue as were their Cheerleaders!  Sit back and watch the video of it all!

Posted in Denver Residential Real Estate, Greenwood Village, Homestead in the Willows, Real Estate Residential Denver, Your Colorado Bucket List | Tagged , , | Leave a comment

Stars and Stripes Weekend – Boston U., Boston College and Harvard

US Women's Teams and the US Mens Team Compete in Boston

You have to be excited about a weekend in Boston in the fall with a line up of Lacrosse entertainment like this.

The World Champions keeping the torch lit with some US competition….  US Lacrosse has put together an exciting weekend of events at Harvard’s new lacrosse venue.

Pray for clear skies and great weather!  Because, all your favorite players will be there keeping the torch burning brightly in their quests for world domination again in ’13’ for the Women and in Denver in 2014 for the men.  USA, USA, USA, USA, USA… … …

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Hidden Charms Found in Centennial Neighborhood

Homestead on the Parkway Home

It feels like home!

One of the great things about Denver’s Residential Real Estate is its “Hidden Charms”. Scattered throughout the Metro Area, residential enclaves surprise the adventuresome house hunter. Denver, Lakewood, Aurora, Broomfield, Golden, Littleton, Englewood, Cherry Hills Village, Greenwood Village, Parker, Castle Rock and Morrison all enjoy their own little slices of heaven.

As Centennial matures into a safe, respected and highly accessible city, it too enjoys its own slices of residential heaven. In the early 1970s when Centennial was unincorporated Arapahoe County, some of the most respected names in residential construction sought their fame and fortune along what are now the Streets of Centennial. Writer, Sanford, Celebrity, Hallcraft, Richmond and many others staked their claims along the grids created by Arapahoe Road, Dry Creek Road, S. Holly Street and S. Quebec Street.

One community created by Sanford Homes gave residents 8 tennis courts, 3 community pools, an intertwined greenbelt system allowing kids to walk to a neighborhood elementary school and an interior core which became Willow Springs Open Space. With kids walking to Homestead Elementary School during the school year and neighborhood pools in summertime, it didn’t take long for the summer swim team to start feeding Cherry Creek High School with State Champions year in and year out. With the competitive nature of surrounding communities like Heritage Greens, Foxridge, Willow Creek, Cherry Park, Heritage Village and Heritage Place summer competition is still churning out championship swimmers 30 years later.

It takes more than a swim team to make a neighborhood however, and Homestead enjoys a diversity that really allows a ladder of ownership supporting first time buyers to “I’ve Arrived” homes to empty nest opportunities. Homestead in the Willows enjoys the benefits of a large Single Family Detached enclave, the Homestead Villages tend to be focused retirement enclaves, Sturbridge reflects the colonial townhouse rows often found in and around Boston, Olde Mill condominiums and Mill Creek paired homes offer very affordable entry points. But the jewels of Homestead, Willows End and The Parkway secretly enjoy a market fanaticism that seldom occurs.

People routinely ask, “What is it about those parkway houses?” Once you drive through and see the advantages of the access to pools and schools, the bucolic serenity of the open space, the architectural conformity, the pride of ownership and one of those sunsets, most people “shop ‘till they drop” to get into Willows End or The Parkway.

Homestead @ Willows End enjoys 17 perimeter custom home sites and 16 interior patio home style sites with a private street and 2 acres of common area that is always immaculately groomed. Tree lined white railed fences, define the enclave’s special status within the community. The abutting open space allows it to have a perception of very low density. Right next door along Homestead Parkway is Homestead on the Parkway. Not much bigger with only 45 custom home sites, The Parkway has 20 perimeter open space sites. The fact that there is only 37 perimeter sites on 120 acres of natural open space fuels the constant market demand from the surrounding community. It is not uncommon for these locations to sell by word of mouth.

Many of the current and past Parkway and Willows End owners have had 1, 2 and even three other homes in Homestead before arriving on “on the parkway”. “It’s just that type of community.” Although many of the original owners have been lost to other worlds, they always seem to be back for Christmas parties, summer BBQs and that “little slice of heaven” they once called home. It’s true what they say, “You can take the person out of Homestead, but you can’t take the Homestead out of the person”.

Posted in Centennial, Homestead at Willows End, Uncategorized | Tagged , , , , , , , | 1 Comment

Rational Apathy or Good Common Sense?

A few months ago, I wrote about having moved from a market of “Irrational Exuberance” to what I’m calling the new market of “Rational Apathy”. Today, reading Amy Hoak at The Denver Post offered another example of the desire people have to stop being slaves to their shelter.

“A growing number of homeowners are choosing to pay down their mortgages at a faster rate–even if it means a substantial jump in their monthly payments.

Between January and June, 26% of homeowners who refinanced chose a 15-year fixed-rate mortgage, according to data from CoreLogic, a provider of financial, property and consumer information. During all of 2009, 18.5% of borrowers who refinanced opted for a 15-year term.”

I am routinely experiencing buyer’s in this market place intent on spending less than they can afford and endeavoring toward a plan of speedy payoff. The question remains, what does this mean in the market?

We are clearly seeing some stability and even pockets of appreciation in the under $400,000 price range. On the other hand, we are seeing the top end continue its negative spiral. In fact, short sales have become common place over $600,000 at this point in time.

The long term trend for Denver is still cloudy, but I believe we can learn from these national trends. “Keeping up the Jones'”, may not be the be all end all is was just a few years ago. Isn’t it a shame we can see so easily into the past, but the view is so clouded as we look into the future?

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The Kentwood Companies Exceed the Market Trend in 2010

During 2010, The Kentwood Companies have exceeded the market as a whole as noted in the attached graphs. Both in sales volume and number of transactions month by month, the Kentwood Companies have exceeded the historical trend. Although closely aligned with the market, Kentwood is up substantially for 2010 over 2009.

We attribute this success to rapidly adjusting to the incentives in the market place such as the Home Buyers Tax Credit, historically low rates and hard work.

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What Buyer’s Want, Why the Market Can’t Deliver…

Water Pik Sensonic Professional ToothbrushBuyer’s want “tooth brush” ready residential real estate. They don’t want to paint, redecorate or replace the carpet. They want to move in, put their tooth brush on the rack, and go to work in the morning. They don’t want to take on the time responsibility of making it “livable”.

On the other hand, the typical seller in this market is a lender, a short sale seller or an individual seller that is barely scraping by to make any kind of deal work let alone stage and complete market prep.

This makes for “strange bedfellows”. As a result, the market can’t deliver what the buyer wants regardless of rates, inventory and buyer’s market conditions.

Posted in Buying or Selling Real Estate, Uncategorized | Tagged | Leave a comment

Introducing the NEW “Denver Real Estate” App

For those of you with an iphone get excited to try out the new app that just went live about a week ago! If you click here you can view the release that went out over the weekend:

We Are Denver Real Estate

All you have to do is go to the app store either in itunes or on your phone and search “Denver real estate” and you will find the new app. We are the first and only ones to show up for the keyword “Denver real estate” in the app store! In addition to Denver real estate you can also search by Kentwood or other variations of real estate keywords, to find the app. Currently the app asks you to register and after tons of feedback from our beta group we decided that we should take the registration off. So likely within a day or two you will not have to provide any information to use the app. The app will also be available for the ipad in the very near future, as well as the android version of the app that is being developed as I type. We will begin beta testing the droid version within the next two weeks and have it live within a month.

Please take a look and give me any feedback you may have regarding the app!!

Have a great rest of your weekend!!!

Lance Smith
Director of Technology
The Kentwood Companies
http://www.DenverRealEstate.com
http://www.DenverBlog.com
Colorado’s Premier Real Estate Company™

Posted in Buying or Selling Real Estate, Kentwood Co. | Tagged | Leave a comment