Centennial, Colorado Update by Andrea Suhaka

Posted on March 25, 2012 by Dee & Tom Cryer
Let me tell you about living in Centennial, CO.

Let me tell you about living in Centennial, CO.

Dear readers,

It’s certainly time for another issue of this newsletter. Things have been happening in the City of Centennial. I’ve got a passle of news to pass along.

So without further ado, here’s the news.

Andrea Suhaka – standy@ecentral.com

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Andrea Suhaka (303-770-0058)

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Tickets on sale now for the Mayor’s State of the City Address (4/12)

The Rotary Club of Centennial and the City of Centennial are pleased to announce Centennial’s 8th annual “State of Our City” luncheon scheduled for Thurs., April 12, at the Embassy Suites Hotel. The keynote speaker will be Centennial Mayor Cathy Noon. The event will be emceed by CBS 4 reporter Jennifer Brice, a Centennial native.

The mayor will report on the milestones the City reached this past year, as well as the challenges still ahead and her vision for the City’s future.

“Our Centennial Rotary always hosts a wonderful event and I really appreciate their tremendous effort. I enjoy the opportunity to visit with the business community and residents to receive feedback about the City. The “State of the City” luncheon provides another way for Rotary to get the word out about the amazing projects they do in the community, nationally and internationally, and to hopefully get more people involved,” said Mayor Noon.

The event host is the Rotary Club of Centennial, a chapter of Rotary International formed shortly after the founding of Centennial.

The “State of Our City” luncheon will be at the Embassy Suites Hotel, 10250 E. Costilla Ave., Centennial, on Thurs., April 12. Registration begins at 11 a.m. Individual tickets are $40, with sponsored tables also available. The event is open to the public; seating is limited and reservations are strongly encouraged. Tickets are available through Black Tie of Colorado, a ticketing service for nonprofit organizations, at www.blacktie-colorado.com. Proceeds of this event go to the Centennial Rotary Club Foundation. The foundation assists local charities and community service organizations.

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29 March, Prior Authorization Bill

What’s in the Prior Authorization Bill?

How does it affect your access to care? Join us for this informational seminar hosted by the Arthritis Foundation and Pfizer. There is no charge to attend.

Thursday, March 29, 2012

11:30 a.m. to 1:00 p.m.

Registration begins at 11:00 a.m.

Arthritis Foundation, 2280 S. Albion St., Denver, 80222

Lunch will be provided.

For additional information please contact:

Jill Lysengen,  jlysengen@arthritis.org, (303) 756-8622 x 222

Complete your registration online at: http://PriorAuthorization.kintera.org/

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Deadlines: April 13 & 16, Applications for positions on some of Centennial’s boards & commission

The City of Centennial is currently accepting applications to fill openings on the Board and the Planning and Zoning Commission. Application forms may be obtained on the City website, www.centennialcolorado.com, or from the City Clerk, 303-754-3302 or bmadison@centennialcolorado.com. All terms are for a period of three years, for which a stipend of $25 per meeting will be paid to each attending board member. Meetings are at 13133 E Arapahoe Rd, Centennial, 80112.

Planning and Zoning Commission – a commission which considers land use applications and other land use matters. Meets at 7:00 p.m. the 2nd and 4th Wednesdays of the month. Application deadline: 5 p.m. April 13, 2012

Board of Review – a board who considers appeals to the Building Code. Meets at 4:30 p.m. the 1st Tuesday of the month on as-needed basis. Application deadline: 5 p.m. April 16, 2012

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15 April: Firefighter Appreciation Night at the Nuggets

To benefit the Colorado Fallen Firefighter Foundation

An invitation from Cunningham Fire Chief Jerry Rhodes, serving the east side of our City, to attend the Nuggets vs. the Houston Rockets.

Sunday, April 15, 2012 @ 6:00pm

Denver Nuggets vs. Houston Rockets

Everyone who purchases tickets will be able to shoot around on the Nuggets court immediately following the game!

Fundraising Challenge – CFFF (Cunningham) vs. DFD (Denver) Running Team – whichever group sells the most tickets will be able to “Pass the Boot” on the Pepsi Center courtyard before the game to raise more money for their organization!

Tickets:

$45 Corner Loge – normally $80

$24.50 Upper Center Balcony – normally $39

$5 FROM EVERY TICKET GOES DIRECTLY BACK TO THE CFFF

Order Tickets online at: www.pepsicenter.com/groups/nuggets/cfff/

Tickets are limited for this special promotion. At a certain point Nuggets management may hold the rights to cancel the certain promotion due to a lack of inventory. DON’T WAIT TO ORDER!

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Deadline: 16 April, Centennial Business Climate Survey

Engaging the Centennial business community in a meaningful way is one of the City’s top economic development priorities for 2012. To better understand the business community’s challenges and opportunities, every business in the City is encouraged to complete the 2012 Centennial Business Climate Survey. The results of the survey will be released as compiled data sets. Responses are vital to ensuring Centennial’s future economic development efforts remain innovative.

The 2012 Centennial Business Survey is available at online at http://centennialcolorado.com/index.aspx?nid=123. Visit the “Economic Development” page under the “Departments” heading at centennialcolorado.com. You will find a link to the survey on the Economic Development landing page. To complete a paper copy, download survey and fax or mail it in. Responses are due no later than Monday, April 16.For more information, contact the Economic Development Manager, Corri Spiegel, at (303)754-3351 or cspiegel@centennialcolorado.com.

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16 April, 6 – 10 pm: Weather Spotting class

Do you have an interest in weather spotting and helping the USGS keep track of our Colorado weather?

The Sheriff’s Office is hosting a Weather Spotting class on Mon., April 16 from 6 – 10 pm at 13101 E. Broncos Pky. If you would like to attend, please, RSVP to Cassandra Stelter at 720-874-4186 or E-mail at cstelter@co.arapahoe.co.us

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17 and/or 26 April, 4 – 7 pm: Centennial Transportation Master Plan Open House

If you care about moving around the City of Centennial, please, plan to attend one of these open houses. A Citizen Advisory Committee has been working for over a year to plan for transportation issues in Centennial in 2025-2030. A plan has been created for the citizens to view and it might contain some interesting changes to our transportation system: vehicle, bicycle, pedestrian, mass transit. It will be on display for public comment on these two dates:

*  17 April, 4-7 pm, City of Centennial

*  26 April, 4-7 pm, South Metro Chamber of Commerce in the Streets at SouthGlenn

Make sure your voice is heard!

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28 April, 10 am – 2 pm, 2 locations: National Drug Take-Back Day

The Drug Enforcement Administration (DEA) has scheduled another National Prescription Drug Take-Back Day which will take place on Sat., April 28 from 10 am – 2 pm.  This is a great opportunity for those who missed the previous events, or who have subsequently accumulated unwanted, unused prescription drugs, to safely dispose of those medications.

Americans that participated in the DEA’s third National Prescription Drug Take-Back Day on Oct. 29, 2011, turned in more than 377,086 pounds (188.5 tons) of unwanted or expired medications for safe and proper disposal at the 5,327 take-back sites that were available in all 50 states and U.S. territories. When the results of the three prior Take-Back Days are combined, the DEA, and its state, local, and tribal law-enforcement and community partners have removed 995,185 pounds (498.5 tons) of medication from circulation in the past 13 months.

“The amount of prescription drugs turned in by the American public during the past three Take-Back Day events speaks volumes about the need to develop a convenient way to rid homes of unwanted or expired prescription drugs,” said DEA Administrator Michele M. Leonhart. “DEA remains hard at work to establish just such a drug disposal process, and will continue to offer take-back opportunities until the proper regulations are in place.”

“With the continued support and hard work of our more than 3,945 state, local, and tribal law enforcement and community partners, these three events have dramatically reduced the risk of prescription drug diversion and abuse, and increased awareness of this critical public health issue,” said Leonhart.

*  Streets at SouthGlenn (last year it was in the parking lot north of Macy’s)

*  Centennial Medical Center, 14200 E. Arapahoe Rd.

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19 May, 7am – noon: Arapahoe Sheriff’s Office Shred-a-thon

I don’t have much more information on this except that it will be at the Arapahoe Sheriff’s Office, 13100 Broncos Pky, in their parking lot. I do know there is a limit on the amount of material you may bring for shredding (2 legal boxes?) My next newsletter may have more information on this.

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From Twitter, @RTMetroDenver (Rebuilding Together): Know a low-income senior that is in need of home repairs? Have them apply to RTMD. http://t.co/HG7fwm2Q

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Andrea: Though Centennial has decided not to go for a bond issue right now, this is always welcomed news.

Centennial receives strong credit rating

The City of Centennial has reaffirmed the City’s AA+ credit rating. These ratings recognize the City’s strong general fund balances, low debt burden, and an affluent residential population.

According to the report provided by Standard & Poors “ The city’s management practices are considered “strong” under Standard & Poor’s Financial Management Assessment (FMA). An FMA of “strong” indicates that practices are strong, well embedded, and likely sustainable. We revised the city’s FMA score to “strong” from “good” due to the city’s adoption of a debt management policy. Although the city currently has no debt outstanding, the policy includes parameters for the uses of debt, debt structures, and debt administration and procedures.”

“The City of Centennial strives to be good stewards of our citizens tax dollars. I am proud that Standard & Poors has acknowledged the City’s lack of debt, appropriate cash reserves and strong financial management. Our citizens should be pleased with this recognition of their government’s solid financial position,” says Centennial Mayor Cathy Noon.

The City has maintained this credit rating since 2008.

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A tip from the Tweet stream of @ArapahoeSO (Arapahoe Sheriff’s Office): BURGLARY PREVENTION TIP: Install motion sensitive lights to increase your home’s visibility, by limiting hiding places

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Council Member Keith Gardner appointed Mayor Pro Tem
On March 5, 2012, Judge Ford Wheatley swore in Council Member Keith Gardner as Mayor Pro Tem for the upcoming year. The pro tem position is elected annually and serves mayoral functions during any temporary absences of the mayor.

Council Member Keith Gardner was recently re-elected to serve as District 2. Gardner’s term will end in 2016.

“I can’t thank my council colleagues enough for allowing me this opportunity, and I’m truly honored and thrilled to serve our community in this way. I’m looking forward to learning more about our City with this position, especially as the City’s representative on the Urban Drainage and Flood Control District Board,” says Mayor Pro Tem Gardner.

Keith is a Software Quality Assurance Specialist and graduated from the University of Northern Colorado. He serves as a City representative on the Centennial Airport Community Noise Roundtable, a liaison to Littleton Public Schools and the South Metro Fire Protection. He is also a member of the land use committee

Keith serves on a number of community organizations, including:

* City Representative Centennial Airport Community Noise Roundtable

* Liaison Littleton Public Schools

* Liaison South Metro Fire Protection District

* Member Centennial’s Land Use Committee

* Represents Centennial on the Centennial Airport/Community Noise Roundtable

* Centennial Council of Neighborhoods (CenCON)

* Iota Phi Theta Fraternity

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Arapahoe County Sheriff’s Office CITIZEN ADVISORY

Elder Watch

www.co.arapahoe.co.us/citizeninfo/ElderWatch2012.pdf

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Arapahoe County Sheriff’s Office

CRIME PREVENTION TIPS

Robbery Prevention

www.co.arapahoe.co.us/citizeninfo/RobberyPrevention2012.pdf

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Via Twitter, @ColoradoAARP: Learn about federal and state financial assistance for seniors: http://t.co/t4SW7VlL

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Arapahoe County Sheriff’s Office

CRIME PREVENTION TIPS

Home Security – Burglary Prevention

www.co.arapahoe.co.us/citizeninfo/BurglaryPreventionMarch.pdf

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Via Twitter, @South_I_25_TMA: We have almost reached 100,000 miles in the Million Mile Challenge! Join the challenge today at http://t.co/Ak6UQgwf

Andrea: I think April is the last month to take advantage of discounted RTD tickets.

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Arapahoe/I-25 Interchange Environmental Assessment

Outwardly not much has been happening with this project. Key committees are continuing to meet, but there is very little news. For current information, you may always turn to: www.centennialcolorado.com/index.aspx?nid=708 or www.i25arapahoeroadea.com/

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Explore Centennial – Shop Local

For the latest deals, please seer www.centennialcolorado.com/index.aspx?NID=543

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And now for some news about TRANSPORTATION

Via Twitter, @Transpo_Issues: Could Creating this Federal Transportation Program Save $200 Billion A Year? http://t.co/47Ur385Q

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Via Twitter, @TransportNation: 10.4 billion riders took public transit in 2011 — second highest year ever!

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And now for some briefs from Bill Spriggs of The Back Fence:

CampaignStops.blogs.nytimes.com

The New Suburban Poverty
By Lisa McGirr, Mar 19, 2012

In many of America’s once pristine suburbs, harbingers of inner-city blight – overgrown lots, boarded up windows, abandoned residences – are the new eyesores.  READ MORE…

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DC.StreetsBlog.org

Feeding the Beast: The Backdoor Ways Transit Subsidizes Roads 

By Angie Schmitt, Mar 16, 2012

We’ve done our share of commentary on this blog about how transit is underfunded in the first place. So it’s all the more upsetting to see highway projects pick the pocket of transit agencies. But that’s exactly what’s happening, in different forms, in different places throughout the country, writes Alon Levy at Pedestrian Observations.   READ MORE…

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ThisBigCity.net

The Future of the City: Density, Sustainability, and Citizen Happiness 

By Sharon Gochenour

After an hour and a half of driving, I was pretty thoroughly disgusted with the whole idea of suburbs. I became more and more unreasonable as I became more and more lost. What’s the difference between “96th Street” and “96th Street Terrace?” Why were there so many parking lots?   READ MORE…

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ThisBigCity.net

World’s First Vertical Forest Under Construction in Milan 

Forum, March 01, 2012

In Milan, a forest will soon be planted in the sky. Building works for a pair of skyscrapers that will become home to the world’s first vertical forest is underway.  READ MORE…

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Andrea: I offer this because if the I-225 corridor is completed, it will meet with the line to DIA and give us a way to take trains to the airport.

TheDenverPost.com

T-REX Company Offers Plan to Finish Aurora FasTracks Segment

By Karen Augé, Mar 14, 2012

The company that built the T-REX transportation project wants to be part of RTD’s current behemoth, and it has surprised the transportation district with a confidential, unsolicited bid, most likely to bring the FasTracks Interstate 225 light-rail project northward.  READ MORE…

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You’ll notice I’ve also included a number of items I got from Twitter. Those URLs probably look pretty strange, but they are fine for you to click. A new “fad” on the internet is services to shorten URLs.      Andrea

Posted in Centennial, Colorado, Denver Residential Real Estate | Tagged , , , , , , , | Leave a comment

Warren Buffet Touts Home Ownership Over Stocks? Really?

Posted on March 19, 2012 by Dee & Tom Cryer

Warren Buffet Touts Home Ownership Over Stocks? Really?.

Posted in Uncategorized | 1 Comment

What Can You and What Can’t You Deduct When You Have a Home Office?

Posted on March 10, 2012 by Dee & Tom Cryer

Have  you ever wondered what tax advantages a home office would provide when April, 15 rolls around.  Thanks to Donna Fuscaldo and HouseLogic, this question and more are answered here.

Tax Wordie 2012

Tax Wordie 2012

Working from home can offer many advantages including tax deductions. Just take care what you try to write off for your home office on your return.

Passing the IRS litmus test

To meet IRS guidelines, your home office must be your principal place of business, or the place you see clients in the normal course of business. Parts of your home you use to store products or equipment for your business also count. That doesn’t mean that all your work has to be done from home. If you’re an outside salesperson, you probably spend most of your work time elsewhere. But if you do you billing and return customer calls primarily from your home, your home office should qualify.

You can also qualify for the deduction if your employer requires you to work from home, as long as you don’t charge your employer rent. One big catch is that you must maintain the at-home office for your employer’s convenience, not your own, such as to complete reports at night or on weekends. Self-employed workers use IRS Form 8829 to calculate the deduction, which they list on Schedule C.

Measuring your home office

The amount you can deduct for your home office depends on the percentage of your home used for business. Your work space doesn’t need to be a separate room—a table in a corner qualifies. But it has to be an area that’s used solely for business. The tax break also covers separate structures on your property, like a detached garage you’ve converted to an office. Unlike an office inside your home, a separate structure doesn’t have to be your main place of business to qualify for a deduction. That’s because the IRS believes your family is less likely to use a separate structure as a part-time play area or den, says Mark Luscombe, principal analyst for tax and consulting at CCH.

To calculate what percentage of your house the home office occupies, divide your home office’s square footage by the total square footage of your home. If your home is 3,000 square feet and your office is 150 square feet, for example, you’d use 5% to calculate your deductions. Not sure how big your house is? Check the documents you received when you bought your home—there’s probably a detailed rendering—or measure the outside of your home and multiply length times width.

What can you deduct?

Once you’ve figured out what percentage of your home you use for business, you can apply that percentage to different home expenses. These include:

  • Mortgage interest
  • Utilities (heating, cooling, lights)
  • Home owners insurance premiums

Just take each expense and multiply it by your home office percentage (the 5% mentioned above). That’s the amount you can deduct as a business expense. So if you spend $150 a month on electricity, you can deduct $7.50 as a business expense. That adds up to a $90 deduction per tax year.

Save bills or cancelled checks to prove what you spent in case of an IRS audit. Take an hour a week to file them away. Also, only repairs can be expensed; improvements must be depreciated.

Don’t forget depreciation

Depreciation is based on the idea that everything—even something like a home—wears out eventually. To figure home office depreciation, start by calculating the tax basis of your home: generally the purchase price plus the cost of improvements, minus the value of the land it sits on. Next, multiply the tax basis by the percentage of your home used for work. This gives you the tax basis for your home office.

Usually, depreciation deductions for a home office are figured over a 39-year period. There are caveats. For a crash course, read IRS Publication 946 or talk to a tax pro.

Keep in mind that depreciation deductions on your home office increase the amount of profit on a home sale that is subject to taxes. There’s an exclusion of $250,000 of profit if you’re a single filer, $500,000 for joint filers. Consult with a qualified tax professional on how depreciation deductions affect your tax liability when you sell.

This article provides general information about tax laws and consequences, but shouldn’t be relied upon 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: Donna Fuscaldo

Published: January 3, 2012

Posted in Homeownership, TAX | Tagged , , , , , , , , , | Leave a comment

Super Joe Hubert Is Back With a Denver Market Update for February, 2012

Posted on March 7, 2012 by Dee & Tom Cryer
Super Joe Hubert

Super Joe Hubert

Hi Tom,

February – 2012 Real Estate Market Update
Entire MLS (All Areas)

Residential Highlights

  • 13.7% Increase in closed sales year over year
  • 45.5% Decrease in Absorption Rate (4.2 months)
  • 39.7% Decrease in active listings year over year (8,202)
  • 2.1%    Increase in average sold price ($270,821)

Condo/Townhome Highlights

  • 11.6%  Increase in closed sales year over year
  • 49.5%  Decrease in inventory year over year (2,004)
  • 3.5%    Increase in average sold price ($161,143)
  • 21.7% Decrease in average days on market (101)

Click here for Full report of entire MLS

“Thanks again Joe, and a big thank you to Land Title too!  I am able to confirm this rapid change in our market.  Multiple offers, showing traffic increases and page views on my web site are all substantially up over 2011. If you have been holding off on a buy or sell decision, now is the time to pick up the phone and call me…tc”

 

Posted in Buying or Selling Real Estate, Denver, Denver Housing, Denver Residential Real Estate | Tagged , , , , , , , | Leave a comment

In state, Out of State and Altered States?

Posted on March 6, 2012 by Dee & Tom Cryer
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?

Posted on March 3, 2012 by Dee & Tom Cryer
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 on March 2, 2012 by Dee & Tom Cryer
Posted in Homeownership | 1 Comment

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

Posted on February 29, 2012 by Dee & Tom Cryer

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

Posted on February 27, 2012 by Dee & Tom Cryer
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

Posted on February 17, 2012 by Dee & Tom Cryer
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