Arapahoe Road Improvements Are Finally Happening!

After years of waiting, residents on the east side of Centennial and the southeast corner of Aurora are going to benefit from the ease of travel and safety that comes along with the widening of Arapahoe Rd.  Could this be true?  “Trees that are slow to grow bear the best fruit.” ― Molière  Either way, the fruit of this geographic boundary being removed can’t help but make residents happier, safer and maybe even friendlier…

Public Invited to View Plans for Arapahoe Road Improvements

City Schedules September 4 Public Open House, 5 to 7 p.m. 

Following years of increased congestion, lack of left turn lanes, and bottlenecks, the City of Centennial is moving forward with a $15 million project to widen Arapahoe Road from Waco Street to Himalaya Way. Citizens are invited to a Public Open House to learn about the Arapahoe Road Improvements Project Thursday, September 4 at Grandview High School, 20500 E. Arapahoe Road in Aurora. Citizens, commuters, businesses and residents of adjacent neighborhoods may drop by the school cafeteria anytime between 5 and 7 p.m. to view the project design and ask questions.

The primary goal of this long awaited project is to improve safety and mobility by reconstructing and widening Arapahoe Road from Waco Street to Himalaya Way. This stretch of Arapahoe Road is currently a two-lane roadway designed to handle 20,000 vehicles per day, but actually handles about 23,900 vehicles per day with significant peak hour volumes. Traffic along this busy segment of Arapahoe Road is anticipated to further increase in the coming years. The City of Centennial and its project partners are collaborating on this project that will increase capacity and improve safety and mobility through this segment of the corridor.

For more information visit www.ArapahoeRoad.com .

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Centennial, Colorado Is Among The Best US Cities for First-time Home Buyers!

Let me tell you about living in Centennial, CO.

Let me tell you about living in Centennial, CO.

WalletHub conducts an in-depth analysis of 300 largest U.S. cities 

The City of Centennial ranks as the 8th best city for first-time home buyers in the country according to a recent study from WalletHub, the leading personal finance social network. To determine which housing markets most favor first-time home buyers, WalletHub assessed the affordability of homes, the conditions of the real estate market and community environment in the 300 largest U.S. cities. The in-depth analysis used 17 key metrics, ranging from median housing prices and real estate taxes compared to median home price appreciation and price-to-rent ratios. 

First-time home buying in Centennial (1=best)

•         4th – Property crime rate per capita 

•         6th – Median household annual income (adjusted for cost of living)

•         13th – Median home price appreciation 

Read the full report

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7 Good Reasons to Own Your Home

A Man's Home Is His Castle...

A Man’s Home Is His Castle…

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village, Highlands Ranch, Home & Garden, Home Ownership By Age Group, Homeownership | Tagged | Leave a comment

Month over Month/Year over Year/Denver Market Update 8-2014

Supply vs. Demand

Supply vs. Demand

The traditional prime “selling season” is wrapping up – yet the pent-up demand for housing remains very strong and does not appear to be cooling off as we head into fall.

Unfortunately, with only three weeks of inventory in the $100,000 to $300,000 price ranges –which typically represents the first-time buyer market – finding enough to choose from continues to be a major challenge for buyers & brokers alike.

The Median and Average SOLD prices for Single Family Homes remained unchanged from June.

The Condo market saw a slight uptick in Median price, while the average price remained unchanged during that same period.

Interest rates remained stable in July – hovering in the low-to mid 4% range for a 30-year fixed loan.

First-time home buyers are lining up to get into the market and new household formations are happening.

Our month-over-month market comparison of Single Family Homes showed a sharp drop in actual sales for all price points except the luxury market from the $1,000,000 to $1,999,999 range which saw a 15.7% spike from the previous month. The Condo market showed improvement in the number of sales in the $200,000 to $299,999 and $400,000 to $499,999 ranges respectively.

Our year-over-year market comparison of Single Family Homes showed significant drops in actual SOLD properties from $0 to $299,999, but improvements across the board over $300,000 and an astounding 17% rise in properties over $2,000,000. The Condo market showed improvement in the number of SOLD units in every price range – in particular the $500,000 to $699,999 range where SOLD units have skyrocketed 161% year-over-year. The exception to the strong condo market is in the under $99,999 range, but that can be attributed to the fact that prices are increasing, and therefore it’s becoming more and more challenging to find condos in this price range.

Posted in 2010 Mid Year Denver Market Watch, Buying or Selling Real Estate, Centennial, Cherry Hills Village, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | Leave a comment

Time to be Bullish about Homeownership!

I captured this from my A Team lender, Marilyn Barrett.  It makes sense.  Supply and Demand are constant reminders of how simple our world can be.  It’s no difference with shelter.

Supply vs. Demand

Supply vs. Demand

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now may be the best time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.

THE PENDING HOME SALES REPORT

The report announced that pending home sales (homes going into contract) “surged” by 6.1%. The increase was “the largest month-over-month gain since April 2010, when first-time home buyers rushed to sign purchase contracts before a popular tax credit program ended”. Lawrence Yun, NAR’s chief economist, expects improving home sales throughout the rest of the year: “Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation.” Takeaway: Demand is beginning to increase dramatically compared to earlier in the year.

THE EXISTING HOME SALES REPORT

The most important data point revealed in the report was not sales but instead the inventory of homes on the market (supply). The report explained:

  • Total housing inventory climbed 2.2% to 2.28 million homes available for sale
  • That represents a 5.6-month supply at the current sales pace
  • Unsold inventory is 6.0% higher than a year ago

There were two more interesting comments made by Yun in the report:

  1. “Rising inventory bodes well for slower price growth and greater affordability, but the amount of homes for sale is still modestly below a balanced market.” In real estate, there is a guideline that often applies. When there is less than 6 months inventory available, we are in a sellers’ market and we will see appreciation. Between 6-7 months is a neutral market where prices will increase at the rate of inflation. More than 7 months inventory means we are in a buyers’ market and should expect depreciation in home values. As Yun notes, we are currently in a sellers’ market (prices still increasing) but are headed to a neutral market.
  2. “New home construction is still needed to keep prices and housing supply healthy in the long run.” As new construction begins to be built, there will be increased downward pressure on the prices of existing homes on the market.

Takeaway: Supply is about to increase significantly. The supply of existing homes is already increasing and the number of newly constructed homes is about to increase.

Bullish on Homeownership

Bullish on Homeownership

Bottom Line

If you are going to sell, now may be the best time.  Let’s be Bullish!

Posted in Buying or Selling Real Estate, Centennial, Cherry Creek State Park, Cherry Hills Village, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | Leave a comment

Record Apartment Sales Levels Likely to Result in Property Tax Shock Next Spring

All quadrants of our real estate market interconnected. This is great information to share!

kmalnati's avatarKyle Malnati Blog

FOR IMMEDIATE RELEASE
CONTACT: GREG JOHNSON
(303) 343-8333

RECORD APARTMENT SALES LEVELS LIKELY TO RESULT IN PROPERTY TAX SHOCK NEXT SPRINGAvg Price graph

DENVER, July 15, 2014 – A review of recent sales data for Central Denver apartment properties points to shocking news ahead for property owners. Veteran apartment brokers, Greg Johnson and Kyle Malnati of Madison Commercial Properties studied data for all multi-family property sales in Denver’s core neighborhoods this year, and found prices have increased an average of 89% over the last two years.

“We analyzed the data for apartment buildings with 10 or more units, focusing on Capitol Hill, Washington Park, Congress Park, Uptown and Mayfair neighborhoods. In the first half of 2014 there have been 38 transactions, representing just over 1,000 apartment units. The average price this year has been $138,980 per unit,” explained Mr. Johnson. He went on to note that in the first six months of…

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The City of Centennial, Colorado Announces “TopGolf”…tc

 

Topgolf  Announces First Colorado Location

The entertainment venue confirms it will break ground on Centennial site this month

DENVER – June 11, 2014 – Golf entertainment leader Topgolf International, Inc. today officially unveiled Centennial as its 21st location worldwide and first in Colorado. Topgolf® will begin construction on the 65,000-square-foot facility at the end of the month; the site is expected to open to the public in early spring 2015.

Topgolf Centennial will be located at the northeast corner of South Havana Street and East Easter Avenue, a few miles from the Denver Tech Center and approximately 20 minutes from downtown Denver. Topgolf is the only entertainment center of its kind, offering competitive golfing games for all ages and skill levels and advanced technology to track players’ shots. Those who just want to relax can enjoy the upscale, laid-back ambiance that boasts more than 230 high-definition flat-screen TVs and an extensive food and beverage menu.

“The Denver area is a perfect location for an outdoor recreational activity like Topgolf since the city offers a fantastic climate with more than 300 days of sunlight each year,” said Topgolf Chief Development Officer Randy Starr. “We are very excited to bring our unique concept to Centennial as it will offer another active entertainment venue for residents and corporations.”

The new three-level location – constructed by ARCO/Murray – will include up to 3,000 square feet of private event space and 102 climate-controlled hitting bays that can host up to six players at one time. Starr estimates that Topgolf Centennial will serve approximately 450,000 visitors in its first year of operation. Nearly half of all Topgolf guests describe themselves as “non-golfers.”

“We are excited to welcome Topgolf to our community,” said Centennial Mayor Cathy Noon “They have a real vision and are working hard to develop the site into something amazing. Their unique brand of golfing and entertainment is sure to become a destination venue, creating even more character along the Arapahoe Road corridor in Centennial.”

Founded in 2000, Topgolf welcomed its 10 millionth visitor in history last November. Topgolf’s economic impact in its local communities is also remarkable, creating hundreds of jobs at each location and serving as an anchor tenant that tends to attract other popular franchises to the area. In fact, its economic output in Centennial alone is expected to exceed $264.5 million over a 10-year-period, according to a third-party audit.

“Topgolf fits perfectly into our extensive list of sports-oriented businesses in Centennial,” said City of Centennial Mayor Pro Tem Ken Lucas. “I think the area will embrace it with enthusiasm and will be amazed at the technology, format and great food that Topgolf is famous for. As a golfer, I am looking forward to introducing all of my golfing friends to all the fun and entertainment that Topgolf provides.”

Residents can track Topgolf’s site progress in Centennial at facebook.com/topgolfcentennial and @topgolfdenver on Twitter and Instagram.

About Topgolf

Topgolf is the emerging global leader in golf entertainment, with 13 locations serving more than 2.7 million guests annually. Players hit golf balls containing computer microchips that track each shot’s accuracy and distance while also awarding points for hitting targets on the outfield. Each facility offers an upscale, laid-back experience that features climate-controlled hitting bays and an impressive food and beverage menu crafted by an executive chef. Mix in dynamic event spaces for groups of all sizes, and Topgolf stands as the premier entertainment complex where the competition of sport meets the neighborhood’s favorite hangout. To learn more about Topgolf, visit http://www.topgolf.com.

Nearby: Vallagio Resort Collection by Metropolitan Homes

 

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Don’t Be That Guy!

Tax Wordie 2012

Don’t Be That Guy!

Are You Ready for Summer

Are you ready for summer? Apparently, we will not be getting spring this year. Although our lawns are turning green, our trees are starting to leaf and our Daffodils are pushing up through cold dark earth our April showers have been snowstorms. I’m a little concerned about our “May Flowers”…

One of the first expressions I ever heard about living in Colorado was, “Predicting the weather around here is for fools and newcomers…”.

Our residential market is just as complicated. Choosing homeownership is not without it’s pitfalls. It is certainly not for “fools and newcomers”.   Just to name a few pitfalls; radon gas, broken sewer lines, cracked heat exchangers, encroachments, insolvent homeowners associations, resale-ability, valuation concerns in an appreciating market and more. Here’s some advice. Don’t go into this market unarmed!

Don’t Be Like Mike! 

During the Great Recession, when interest rates and home prices were rock-bottom, Mike looked at dozens of homes, but failed to buy, worried he would be stuck with a home that would continue to drop in value. Fast forward to April 2014. Mike is still renting. He considered moving to a new apartment community along Denver’s southeast corridor. He found one with a one-car garage for $1,420 a month. He called back three weeks later and the price was $1,750, a 23.3 percent jump.

Last year, overall apartment rents rose by 8.9 percent, just about the same as home prices in the Denver area. How is it possible that Mike would see almost three times that increase in only three weeks? The answer is, “Renting an apartment is like buying a plane ticket”.

Increasingly, big apartment owners use software to match the price of units based on what is available and what the market will bear. Supply and demand is down to a science and is much more efficient than with the housing market. In effect, during the past five years, Mike has been paying off his landlord’s mortgage instead of his own. Given rising rents, he decided to give home buying another shot. It was an eye-opener when he learned first-hand that reports of the housing shortage were not exaggerated.

Yet, there is a silver lining for Mike and other renters who would be better off buying: they don’t have to worry about the complicated juggling act of buying and selling a home at the same time. Renters, however, shouldn’t try to buy a home on their own. With so little inventory, more than ever they need an experienced Realtor to help them map a strategy and navigate this market, where demand far outstrips supply.

Mike has learned his lesson. “I’m kicking myself,” for not buying, he said.

2014 Denver Free Days!

Looking for something to do? Check out Free Days for great Denver sights like the Denver Zoo, Denver Art Museum, the Museum of Nature and Science and more! Click Here for the full schedule.

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Colorado, Denver, Denver Market Watch, Denver Residential Real Estate, Greenwood Village | Leave a comment

What’s New in Castle Rock – Cliffside by Village Homes

Clilffside by Village Homes

Clilffside by Village Homes

Just a few miles northeast from Founders Parkway and I-25 lies a mesa overlooking the town of Castle Rock.

On this mesa, Village Homes is well positioned to deliver new single family homes with overlook views and access to the cliff’s edge.

Clilffside – Castle Rock

 

 

 

 

Posted in Buying or Selling Real Estate, CASTLE ROCK, Centennial, Cherry Hills Village, Colorado, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village, New Homes | Leave a comment

New Contracts Continue to Outpace New Listings 2/22/2014

Search and Live Local

Search and Live Local

Listings going under contract exceeds new listings going on the market over the last 7 days by more than 40%.  This means our shortage of inventory will continue.

New Listing (987)
Back On Market (216)
Price Increase (109)
Price Decrease (480)
Under Contract (1447)
Withdrawn (80)
Sold (821)
Expired (151)
Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | Leave a comment