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.

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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™

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What’s Going On Out There?

These items have made their way past my desk in recent weeks. Some 70M people in the US have below 600 on their FICO scores. This means 70M people may not borrow at market rates and may not be able to borrow at all.

An additional number crossed my desk; 12% of homeowners with mortgage amounts in excess of $1M are 60 days or more behind on their payment. Over $2M, that moves to 14%. This does not bode well for the top end in most residential markets around the country.

With interest rates at their all time lows, I read a prediction this morning that they will go even lower in the months to come through year’s end and into 2011. That could save this market from the dreaded “double dip”.

There will be more to come as I make this WordPress thing come to life. Start checking out my pages at the top. They are starting to have some great content!

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Centennial Named Finalist for NLC’s 2010 Awards for Municipal Excellence

The National League of Cities (NLC) announces that Centennial is as a finalist for the 2010 Awards for Municipal Excellence. The Awards for Municipal Excellence recognize cities and towns for outstanding programs that improve the quality of life in America’s communities. Centennial was chosen for Partnership in Public Works program.

“We are pleased that Centennial is a finalist for our Awards for Municipal Excellence,” said Donald J. Borut, NLC’s Executive Director. “This shows that even at a time when so many cities are struggling financially, cities and towns continue to develop the most creative and innovative solutions.”

NLC received nominations from cities and towns in 40 states. Finalist programs exhibited exceptional public-private partnerships, productive citizen and community collaborations, management of municipal resources, implementation of government policies, project implementation with tangible results and/or the ability to replicate the project in other cities.

The winners of the 2010 Awards for Municipal Excellence will be announced during NLC’s Congress of Cities and Exposition in Denver, Colo., November 30 – December 4, 2010.

More information about the Awards for Municipal Excellence can be found on the NLC website at http://www.nlc.org/ame.aspx.

The National League of Cities is the nation’s oldest and largest organization devoted to strengthening and promoting cities as centers of opportunity, leadership and governance. NLC is a resource and advocate for 19,000 cities, towns and villages, representing more than 218 million Americans.

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Moving Over to WordPress – Creating Goals

Wow, This is tougher than I had first expected, but I’m working through this.

Here are my goals:

I want to create a blog site that empowers me to present the information my sphere needs to know. I want it to be a fun place to visit.

I want it to be an enjoyable place to find and read my newsletter and drill deeper each month.

I want it to be the headwaters for your real estate search.

And, last but not least, I want it to be a place for you to discover why I have stayed here so many years and from where my love of Colorado originates. Let’s have fun!

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Welcome to the dog days of summer!

 

 

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My Town Cryer

July, 2010

By Tom Cryer, Broker Associate @ The Kentwood Companies

 

·         What’s New @ MyTownCryer

·         What’s News @ The Kentwood Companies

·         Property Profiles of the Month

·         MyTownCryer Concierge Services

·         Community Spotlight

·         What’s New, What’s Hot, What’s Happening

·         Family Happenings

·         Green Stuff & More

·         Denver Market Watch 2009

·         Oh, BTW…

 

What’s New @ MyTownCryer

http://ecards.plaxo.com/ecard/ajax/img.php?sid=puableio84hd46uq50987fqpt4&key=preview&t=1278518217

What’s News @ the Kentwood Companies

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Some great reports came out of our corporate headquarters this month, read on:

 

 July 12, 2010

FOR IMMEDIATE RELEASE

(For more information contact Douglas E. Lierle at lierlepr@comcast.net)

 

Kentwood Real Estate Announces

Second Quarter 2010

Sales Volume and Transactions

 

DENVER – Kentwood Real Estate and its top-producing real estate professionals posted total sales volume of $324 million for the second quarter of 2010, representing a remarkable 34 percent increase over 2009 second quarter results of $243 million.  Kentwood Real Estate also recorded a total of 769 real estate transactions for the second quarter this year compared to 633 real estate transactions recorded for the first second last year, which represents an increase of 22 percent. 

 

July 13, 2010

FOR IMMEDIATE RELEASE

(For more information contact Douglas E. Lierle at lierlepr@comcast.net)

 

Kentwood Real Estate Ranked Number One in Sales Volume

Per Agent Nationally by Realtor Magazine

 

          DENVER – Kentwood Real Estate, Colorado’s Premier Real Estate Company, has been ranked number one in total sales volume per agent by Realtor Magazine, the official publication of the National Association of Realtors.

 

Property Profiles of the Month

14070 HILLROSE PL PARKER, CO 80134 (MLS # 892176)  A like new Richmond Glenwood Model with all the upgrades; premium oversized cul-de-sac site, professional basement finish, covered patio and sports court.  Located on the most expensive and best block in Meridian Estates, you will not be disappointed!

1 Front View.jpg

6507 S. FRANKLIN ST CENTENNIAL, CO 80121 (MLS# 905276) Fabulous 1/3 acre site is just one block to the neighborhood pool & 3 blocks to the Highline Canal. You can walk to all of South Suburban’s amenities & the “New Streets of Southglenn”!!  Hardwood throughout, Granite, New Kitchen, New Baths – This is a must See Property!!

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MyTownCryer Concierge Services

This month I’m taking the opportunity to add to the list a few of my clients/customers that offer great service, competitive prices and a friendly approach to doing business in the Denver Metro Area:

·         Dawn Mortimer: Photography – dawn_mortimer@hotmail.com

·         Shawn Kelly:  Interior Design Solutions – kelly99@q.com

·         Ron Davis: Home Media – audiogroup@gmail.com

·         Jerry Nelson: Handyman/Construction – n27911@aol.com

·         Scott Moody: Wood Flooring – moodysks@aol.com

·         Mathew Rabii: Plumbing – a-reliable@qwestoffice.net

·         Doug Novatny: Mold/Restoration/Crawl Space – allclean2626@msn.com

·         Brien Schlomer: MudJacking – advancedmudjacking@yahoo.com

·         Bo & Dawn: Air Comfort/HVAC – (303) 841-0211

·         Josh Collins: Electrician – mountainskyelectric@hotmail.com

·         Willy: Dwayne’s Appliance Service  (303) 740-9027

·         Rhonda Damraur:  Blind Corners & Curves (Window Coverings) rdamraur@bccblinds.com (303) 755-4015

 

Community Spotlight  – Cherry Creek High School, CO.

There are dozens of enclaves, subdivisions, and communities in total that feed into Cherry Creek High School.  Since 1955, Cherry Creek HS has enjoyed an almost endless legacy of change.  From the structures on campus to the students in the hallways, CCHS continues its metamorphosis even today almost uninterrupted.

 

Due to its location on the edge of Greenwood Village, and its proximity to Cherry Hills Village, some very expensive homes reside within the school’s boundaries.  That being said, the neighborhoods feeding CCHS come from all directions and all price ranges.  From the most modest to the most magnificent, all spectrums of the residential matrix are represented.  I have linked this snippet to a chart of average prices and to the history of school above.  Take a moment to learn about this most unique of suburban institutions.

What’s New, What’s Hot & What’s Happening?

What is cloud computing?  It is operating on documents etc…from a computer other than the one you are sitting in front of.  This article explains it and estimates that in the near future you will never work on a document on your actual computer.  http://www.cnn.com/2010/TECH/web/06/11/cloud.mashable/index.html?hpt=Sbin

Tip of the Month:

Boost AC efficiency
With spring in full swing, it’s also time to make sure your air conditioner is running efficiently and keeping the air clean. Clean or replace the filter in your air conditioning unit to optimize efficiency and keep the evaporator coils clean. If you are uncomfortable completing this task, call a professional for assistance.  Use your model number to find the correct filter. 
Click here.

Family Happenings 

It’s been an interesting month.  We’ve hardly sat still for a minute, but in spite of being on the go constantly, we’ve still managed to enjoy the slower pace of summer.  Weddings, climbing, backyard grilling, travel, yard work, and more.  We even did a family portrait!  Bet you can’t wait to see it?

Dee has focused her entire month on getting William healthy with weight gain, doctor consults, and ready to finish up his last semester.  Along the way, she has done a great job coaching me!  Last but not least, however, we had a great weekend away for her birthday.  It’s a good life!

Caroline has been to two weddings and is right now off to her US Team tryouts in Maryland.  (NEWS FLASH: SHE MADE IT AGAIN!)  She has been working so hard 9-5 and keeps in shape for that level of competition.  It appears to have paid off.  Congratulations!!

Andrew is still buys working.  He has appeared as a vendor at numerous farmers’ markets, expedited food at a local restaurant, been a DJ, cooked at camp for Young Life, and managed to fit the Bare Naked Ladies in at Red Rocks!! 

Mt. Bierstadt 011.JPGWilliam continues to heal!  He was just recently allowed to move onto feeds he can chew.  It’s mostly good news.  He is learning all sorts of things about diet, nutrition, and food allergies.  Doctor visits are becoming routine and hospital stays are just a memory at this point.  Believe it or not, his first stop was McDonalds.  I’ll keep you posted.  

I “bagged” another 14er this month.  Mt. Bierstadt and in August, I hope to bag Mt. Evans.  This will just about complete the front range mountains for me.  Both are visible from my home, so it will feel great to be walking through the neighborhood when looking up and say, “I stood on both of those!”  The invitation is still open.  Get on board, the more the merrier!

Green Stuff & More

This will become a collection of things you can do to make your home more efficient:

·        Top 10 Energy Payback Projects

·        Federal Tax Credits for Consumer Energy Efficiency

 

Denver Market Watch Mid-Year, 2010

Follow this link to a comprehensive presentation of year end market data at, The Denver Market Watch Mid-Year 2010.  You will find it informative!  Also, Wells Fargo provided a very informative housing report.  I’ve uploaded it for you here: Mid-Year Housing Report.

Oh, By the Way…

I’d be happy to oblige, if your spouse, partner, family member, business associate or friend would like to be added to the MyTownCryer mailing list.

 

If on the other hand, you would like to be removed from my mailing or have it sent to a more convenient personal email address just click on sbeedederosa@DenverRealEstate.com and type add, change of address or remove in the subject line and Shelby will take care of you.  My intention is to not intrude but to add value.

 

BTW – Do you know someone who is considering buying or selling a home?  If so, please give me a call and tell me about them.  I would be honored to have the opportunity to help them realize their real estate goals.

 

As always, I couldn’t be more thankful for the positive feedback, numerous referrals and repeat business that has graced me over the years;      Thank You!

ND Graduation 2010 003.JPG

Tom Cryer, SCRP

Broker Associate – Realtor

The Kentwood Company

5690 DTC Blvd., #600W

Greenwood Village, CO 80111

© 303-638-3202

(O) 303-773-3399

(F) 303-773-1203

Tom@DenverRealEstate.com

http://twitter.com/MyTownCryer

www.MyTownCryer.com

www.TomCryer.com

http://www.linkedin.com/in/tomcryer

http://mytowncryer.blogspot.com

 

 

 

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Calatrava Unveils Rail Station At Denver International Airport Santiago Calatrava Denver Airport Expansion – Inhabitat – Green Design Will Save the World

http://inhabitat.com/2010/07/30/calatrava-unveils-rail-station-at-denver-international-airport/santiago-calatrava-denver-airport-expansion-3/

Tom Cryer
303-638-3202
Tom@DenverRealEstate.com

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I just visited this web page.

A view on 62% homeownership | Inman News
http://www.inman.com/news/2010/07/22/a-view-62-homeownership

Provided by Bing for iPhone

Explore Bing Mobile Applications here

Tom Cryer

303-638-3202
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