In state, Out of State and Altered States?

William's Notre Dame Graduation 2010

William's Notre Dame Graduation 2010

I think we can all agree, sending a son or daughter off to campus life is an exciting time.  I have some knowledge of this excitement.  I’ve sent three of my own off.  Two went out of state and one just a few miles away to DU.

With each and every child, it was different.  One had thirty teammates to befriend the first week.  One moved into the oldest dorm on campus with a resident priest down the hallway.  And the last one, moved in just two floors above where I resided in Centennial Halls my freshman year more than 30 years ago; with the exact same view of Mt. Evans that I enjoyed, however, I have to tell you, Denver’s air is much cleaner today than it was back then, and the trees to the west are much taller.

With each child, there were similarities.  The uncertainties, insecurities and emotion for the moment were there for all three kids.  For Mom & Dad, the fear for their safety, wellbeing and happiness was there too.  In addition, with all three, when we drove off, my wife and I were comfortable with the decisions that had been made.  We are still very happy about the results even today.

The question answered and the wisdom learned to be passed along from us as parents is relatively straight forward.  Looking back on all three, each one spent copious hours of on campus tours with experts in the art of walking backwards, online searches, councilor conversations and late night kitchen discussions (mostly with Mom, but Dad was there too).

Most kids these days are articulate, observant and well educated to their needs, wants and means.  They understand what makes them comfortable, and they understand what will be a challenge.  Most of all, they are able to meld this all together and make good decisions.  If your child has chosen the University of Denver or DU as we like to call it, they are wise beyond their years.

What more could a college kid ask for?  A world class transit system to take them to the business center of the west, a short walk to a city park that rivals the best in the world, an interstate highway system that can expose them to everything good about Colorado and last but not least, a world class international airport taking them places most only dream about.  He or she has made a great decision, you will have fun following their adventures and together you will wake up 4 or 5 years from now with not just a kid, but more importantly a new friend.  Travel safely my friends.

Posted in Denver, Thomas Cryer, university of denver | Tagged , | Leave a comment

Warren Buffet Touts Home Ownership Over Stocks? Really?

Here's What Warren Said!

Here's What Warren Said!

Every once in a while, the Oracle of Omaha speaks out, and this week, he spoke about the investment value of home ownership.  Famous for saying, “Rule #1: Never lose money.  Rule #2: Never forget Rule #1”, it seems interesting he is reaching out to households and renters all over the country to make this pronouncement.

Warren Buffet gives the thumbs-up to homes as an investment, while regulators and legislators debate whether to reduce principal on troubled loans.

Positive signs abound in this week’s headline roundup as billionaire investor Warren Buffet recommends home ownership as a good long-term investment. Buyers must be on the same wavelength as pending home sale contracts rise to their highest level in two years. Still, lending standards remain tight and the acting director of the Federal Housing Finance Agency is resisting White House calls to allow struggling home owners to reduce their loan balances.

CNBC: Warren Buffet: I’d Buy Up ‘A Couple Hundred Thousand’ Single-Family Homes If I Could

Warren Buffett says along with equities, single-family homes are a very attractive investment right now. Appearing live on CNBC’s Squawk Box, Buffett says if held for a long period of time and purchased at low rates, houses are even better than stocks. He advises buyers to take out a 30-year mortgage and refinance if rates go down.

Los Angeles Times: Principal Reduction Isn’t Ideal Fix for Foreclosures, Official Says

Fannie Mae and Freddie Mac’s regulator pushed back against mounting pressure that the mortgage finance giants start reducing the principal owed on troubled loans, insisting the practice could hurt taxpayers and that alternatives were better at avoiding foreclosures. Lawmakers have maintained that the agency needed to direct Fannie and Freddie to write down the mortgage principal on loans that exceeded the value of homes when struggling borrowers were facing foreclosures.

Baltimore Sun: REALTORS® to Rally Against Proposed Change Affecting Md. Mortgage Interest Deduction

In Maryland, REALTORS® have kicked off a campaign to keep legislators from approving a budget proposal that would reduce the amount of itemized deductions higher-income Marylanders could claim on their state taxes, a move they say would effectively cap the mortgage interest deduction. The Maryland Association of REALTORS® says this would effectively limit the mortgage-interest deduction, a big piece of what people typically itemize, as well as deductions for property taxes.

Boston Globe: Contracts for Sales of Homes on Rise

The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.

Washington Post (Wonkblog): Are Creditworthy Americans Having Trouble Getting Mortgages?

Most everyone can agree that mortgage lending standards were too loose during the housing boom and should be tightened to keep people from buying homes they can’t afford. But has the pendulum swung too far in the other direction? In testimony before the House financial services committee this week, Fed Chairman Ben Bernanke pointed out that tight standards have yet to unwind even for prime mortgages that are eligible for government guarantees.

Thanks to Gavin Mathis and House Logic Published: March 2, 2012

Posted in Buying or Selling Real Estate, Homeownership | Tagged , , , , , , , | 1 Comment

Where Is Your Dream Home?

Posted in Homeownership | 1 Comment

It’s Supply and Demand – It’s That Simple

What happened?  How could my house depreciate like this?  How could 1/3 of my family’s most valuable asset just go up in smoke?  Supply and Demand…  It’s that simple.

As the chart below clearly demonstrates, we continued to build million dollar + inventory while transaction numbers declined.  The result, an imbalance of epic proportions.  In Denver‘s high end neighborhoods around the city from peak to trough we’ve seen as much as 50% declines in value.

History of $1,000,000 Residential Sales in Metro Denver

History of $1,000,000 Residential Sales in Metro Denver

Therefore, as I have listened to sellers sitting at their kitchen tables bemoaning their economic plights of fortune, I sit quietly and think to myself.  I think about the millions and millions of households that placed their future in their shelter, borrowed from their shelter and owe a great deal on their shelter.

The result continues to be cataclysmic for many.  We have to remember some very critical points.  First, 1/3 of households own their homes “free and clear”.  Of the remaining homes with mortgages, 93% are making their payments and too are moving ever so slowly toward “free and clear”.  Finally, there is a thriving market in our lower price ranges of first time buyers buying and building equity.  Hopefully, they will be wiser than their fore-bearers.  It is clearly not as dark as the picture is painted every day in the media.

Therefore, whatever you think about how bad the market is right now, it has the ability to repair itself and stabilize quickly.  That’s exactly where I believe we are right now.  Stability in the trough of the market.  When looking at the potential residential market trend, inventory has dropped to under a potential year’s supply of inventory over $1M.  Like water, the market is slowly seeking its own level.  The future looks bright.  Where are your sunglasses?  You may need them sooner rather than later!

2012 Denver Market Update Report

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Denver Housing, Denver Residential Real Estate, Greenwood Village | Tagged , , , , , , , , , , , , | 1 Comment

7 Reasons Highline Canal Benefits My Family

Denver's Cottonwood Ribbon

Denver’s Cottonwood Ribbon

Anyone who has visited Denver in the late summer knows, we live in the high desert plains east of the Continental Divide.  Prior to our canal system, not even a tree existed away from streams and low lying areas.  Once the Highline Canal punched through Denver all the way from the foothills, a ribbon of Cottonwoods provided a respite from the Sun and ultimately grew into the canopy we enjoy from Littleton all the way through Denver and into Aurora.

Do you walk, jog, bike, or ride a horse along the High Line Canal? Does spending time on the canal trail enrich your life?

If so, the High Line Canal now needs your help! Please take a few minutes to jot down the ways in which the canal benefits you and your family and friends, and then send your message by Tuesday, March 6 to:

Dan Einarsen
Arapahoe County Open Spaces
6934 South Lima Street
Centennial, CO 80112
Or you can e-mail your message to both deinarsen@co.arapahoe.co.us and scarter@co.arapahoe.co.us

As residents of Denver, we are fortunate to have the opportunity from a total of 63 initial

Highline Canal Trail in Summer

Highline Canal Trail in Summer

applicants statewide to be a finalist.  The High Line Canal has been chosen as 1 of 17 finalists in the Great Outdoors Colorado (GOCO) River Corridors Initiative grant competition. In June of this year, competition winners will share nearly $32M in grant funding–Colorado Lottery dollars. GOCO is also then likely to make multi-year funding commitments to these winning projects.  Whoo Hoo the Lottery!!

The High Line Canal Working Group’s final application is asking for $5M of this total River Corridors funding, to partner with other funds to 1) improve the canal’s trail access and safety, 2) to purchase several parcels of adjoining property for open space preservation, and 3) to protect and enhance the tree canopy and other vegetation that border the trail. If the canal is one of the grant winners in June, these improvements will enhance the trail experience for us all in future years.

Highline Canal Trail in Fall

Highline Canal Trail in Fall

The intent of GOCO’s River Corridors Initiative is to provide people of all ages with enhanced river and other water-based open space and recreational opportunities. Therefore, support messages from citizens, including ones from children and schools, biking and equestrian clubs, and friends and family are all especially important in strengthening the final High Line Canal application, by demonstrating that many users of diverse ages and interests enjoy the health and recreational opportunities provided by the canal.

Now designated as a National Landmark Trail, the High Line Canal was completed in 1883 to deliver irrigation water from the South Platte River to water users along its 66-mile length–from Waterton Canyon northeast nearly to DIA. Having served previous generations over the past 129 years, with our help now it can continue to serve future generations as a major regional recreational amenity.

Highline Canal Trail

Highline Canal Trail

Now, here’s what you’ve been waiting for; 7 Reasons Highline Canal has benefited my family.

  1. When the kids were little, they all bounced along behind our bikes in the Burley Trailer for miles and miles.
  2. It was always fun throwing the stick into the water and watching the dog bringing it back.
  3. It is always so homestead-like seeing the equestrian uses, and horses along the way.
  4. The tunnels under the busy streets above allow all users to have uninterrupted and safe passage.
  5. The views are fantastic!  I like fall the best!
  6. The open spaces along the way preserve the legacy!
  7. And last, but not least, the Ribbon of Cottonwoods keep Gingers like me from getting sunburned!

How has Highline Canal benefited you and your family?

Posted in Cherry Hills Village, Greenwood Village, Highlands Ranch, Highline Canal | Tagged , , , , , , , | 1 Comment

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

Super Joe Hubert

Super Joe Hubert

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)

Posted in Denver Real Estate | Tagged , , , , , , , , | 2 Comments

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

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.
Posted in Home Inspection | 4 Comments

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

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

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Denver Real Estate in 2012

We Are Denver Real Estate

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!”


Posted in Centennial, Cherry Hills Village, Denver Real Estate, Denver Residential Real Estate, Greenwood Village | 1 Comment

Hidden Charms Found in Centennial Neighborhood

Hidden Charms Found in Centennial Neighborhood.

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