University Park Home Tour
April 30th, 2008 categories: Life In Denver
An exciting event is on tap for this Sunday, May 4th in the University Park neighborhood.
The annual University Park Home Tour will include five fabulous homes as well as tours of the historic Chamberlin Observatory in lovely Observatory Park (”O Park”). The home tour begins at 11 am and ends at 5 pm.
Tickets are available at University Park Elementary or LuLu’s Furniture and also at the door (the school ~ 2300 South Saint Paul Street.)
This is an annual fundraiser for University Park Elementary and 100% of the proceeds are donated!
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Prestigious Cherry Creek Country Club
April 28th, 2008 categories: LifeStyle Listings, Real Estate News
Situated on the 6th and 7th Greens at Cherry Creek Country Club, offering expansive views of the Nicklaus designed golf course and the lake beyond.
No other home in Cherry Creek Country Club will match this one for design, finishes or location. This is a truly spectacular house that has been lavishly finished and sits on the premier lot in Cherry Creek Country Club.
Unobstructed views and privacy from neighbors are mainstays which will never change.
With the back yard facing east, enjoy the warm summer months of bar-be-queing and watching golfers stroll by.
The house was built to host many evening parties by the lake. A covered patio with built-in gas grill and outdoor fireplace on the main level as well as a ground-level covered patio are an entertainer’s paradise.
Purchase this house and you’ll also receive a membership to the Cherry Creek Country Club – a tremendous value and perk. Visit the club house for a private tour.
Offered at $1,950,000
To visit the complete online presentation go to:
Temporarily off the market. Fall 2009.
| Discussion: 1 Comment »
Ambulance Chasers Attack Realtors
April 24th, 2008 categories: Market Trends, Real Estate News
I got this email today regarding an underhanded maneuver by the Colorado Trial Lawyers Association (aka Ambulance Chasers):
Before you read about it in the paper, we wanted you to be aware of a new ballot initiative filed that would limit commissions for real estate brokers. It’s a sliding scale but still no good. Here’s the breakdown: 6% = up to $250k; 3% = $250-500k; 1% = above $500k.
This initiative is brought by the Colorado Trial Lawyers Association. They filed #109 and seven other initiatives as a response to another initiative dealing with capping attorneys fees.
You wanted to be there. See Gretchen blow her top.
Here are my thoughts on this unfortunate ill-advised action. Go sell your house yourself! Pay upfront for the marketing, the photography, the brochures, the website(s), sit the house open weekend after weekend. Call yourself and explain why the market is flat and you haven’t had a showing in weeks. Network with all of the Realtors you know because most likely the buyer will be the result of a co-op from a broker. Work for a bank and watch them already cut your fee (I’ll bet they don’t for your representation of their foreclosure actions).
Trial Lawyers fight every year when legislators and the general public try to put caps on awards or damages. They certainly don’t want their fee cut. Do you know what the routine percentage a lawyer earns if a case goes to trial? 40% of the award or damages. 50% if there’s an appeal, and 33% if the case is settled. Joe Blow gets run over by a truck and his life is ruined. He’s awarded $1 million to live the rest of his life. His lawyer walks with $400,000.
Is this a reaction to the mortgage crisis? Are the lawyers in the pockets of the banks who for the most part got us into this mess? Lawyers are representing banks everyday in foreclosure actions, and getting paid hourly. I get paid peanuts for the hours of work I put in. We’re spending money on our credit cards to market properties that may take months to sell, and then we pay a co-op to the buyer’s agent and a split to our company. Lawyers representing banks have a vested interest in this crisis stretching out for as long as possible. Realtors are actually trying to alleviate the problem by getting properties sold.
I don’t make money off of other people’s misfortune. I actually lost money last year when I helped a friend/client out of a mortgage mess brought on by a divorce and job loss. It was such a stressful time for my client that not only did I advocate for him with the bank to take a short sale, I marketed his house and paid for his inspection items out of my own pocket to get him out of the home. I am not a vulture. I am paid a fair wage and deserve to make a living just like an ambulance chaser does.
Something seems wrong with this picture. The CTLA, the alleged advocate for the underdog, is attacking Realtors in favor of banks and mortgage companies?
If this initiative passes, I’m sure the lawyers will be waiting in line to represent us to overturn it as unconsitutional. I’ll ask, “will you take 1/6th of your fee?”
| Discussion: 12 Comments »
Denver Think Green Campaign Begins!
April 22nd, 2008 categories: Market Trends, Real Estate News
Earth Day is Everyday
The Kentwood Companies are going “Green!” The leading real estate firm has announced the creation and implementation of an unprecedented “Think Green Campaign” that clearly illustrates the company’s dedication to the environment and the future health of planet earth. The co-owners, management team and leading broker associates at three Kentwood offices in the Denver area have committed to a Think Green Campaign that will reduce pollution in rivers and lakes, preserve our forests, and reduce pollution in the world’s oceans. The campaign coincides with Earth Day on April 22nd.
“The Kentwood Companies’ Think Green Campaign was designed to encourage people to make a difference in the environment and to conserve our natural resources,” said Carol Ihli, vice president and co-managing broker of the Cherry Creek office. “It’s important that our company makes decisions and establishes office policies that reflect our concern for the environment by reducing the carbon footprint.
“We have started a recycling program for each Kentwood office by making recycling bins available to our agents and support staff,” Ihli continued. “We have switched our printing to a certified ‘green’ printer so all of our brochures, flyers and other marketing materials are produced on recycled paper. The printing material and practices have passed the highest environment standards. We are making an effort to direct people to our website for more information rather than taking printed materials. The Kentwood Companies have also placed an order for 20,000 reusable shopping bags that will be distributed to our clients in May as a major part of the Kentwood Think Green Campaign. So now, when our clients carry a reusable bag and are asked at the grocery store if they prefer paper or plastic, they can say ‘neither!’ These bags have a minimum shelf life of three to four years.”
The Think Green Campaign promotes environmental awareness while establishing corporate responsibility. The centerpiece of the promotion is a reusable grocery bag imprinted with The Kentwood Companies logo. Participating Kentwood agents will give their clients four bags and a shopping list note pad supported by two “Earth Day” postcards available electronically or on recycled paper. A newsletter, also available electronically or on recycled paper, will provide “Green” tips, resources, and coupons. Four bags are the equivalent of a full grocery cart.
The Kentwood Think Green Campaign’s reusable bags hold more and spill less. They are sturdy, easier to carry, and last for years. And one reusable bag will replace 500 plastic bags.
The broker associates at The Kentwood Companies want every day to be Earth Day. Gretchen Faber, the co-Managing Broker at Kentwood’s Cherry Creek office invites you to contact her if you’re in the Denver area and would like a reusable shopping bag. Honor the earth, make your green resolutions for the next year today!
| Discussion: 2 Comments »
Get Some Perspective on Mortgage Reality
April 21st, 2008 categories: Market Trends, Real Estate News
The current crisis we find ourselves in has been bred of a complex and often mystifying set of circumstances. This isn’t just a “housing crisis,” it’s a crisis of the investment markets, of the value of the dollar and of derivative investments concocted to generate higher returns. In graduate school Finance 101, we learned about the “risk/reward ratio.” Well, those high-flying investment bankers developed seriously profitable yet highly risky mortgage bundles that they were buying and selling - all while the rest of us slept comfortably in our beds at night.
They reaped the rewards for a time, and now the chickens have come home to roost. The risk was just too great and the house of cards has fallen apart. The Federal Reserve is concerned about inflation, yet is lowering rates to help the housing slide. While that’s all good for real estate and mortgages, it also results in a devalued dollar and rising prices - there’s where inflation rears it’s ugly head after all. And we’re certainly not planning a trip to Europe this year.
Media’s Role
There are currently $9.9 trillion dollars in mortgage loans in the United States, but only 13% of those are sub-prime mortgages. The media sells bad news, and while we can’t deny there has been plenty of it lately, I would argue that theirs is not a balanced perspective.
Why is the media giving the sub-prime “melt down” so much publicity? There were many Fortune 100 and 500 Companies that purchased financial instruments as assets that have sub-prime loans within the product. They did this because of the huge rates of return they gained over the past 6 or 7 years. Now, these companies are writing down their investments gone bad, forgetting the billions of dollars they made on sub prime loans over the last 6 years. The media outlets are focusing on the huge write-downs (and there will be more) and the unfortunate people who have lost their homes. How many people do you actually personally know who have lost their homes in the past 18 months? Not many, I’ll bet. That’s because most homeowners aren’t struggling with making their payments.
Other numbers to keep in mind
According to Henry Paulson, the National Treasury Secretary, while subprime mortgages make up only 13 percent of outstanding mortgages, about 50 percent of the foreclosures started in the third quarter 2007 were subprime loans. And more astonishing is the fact that, while subprime ARMs are only 6.5 percent of mortgages, they represent 40 percent of third-quarter 2007 foreclosure starts. The ARMs will reset again, once more driving up the monthly payments for many of the people holding these types of mortgages. However, given the fact that the bulk of homeowners either have a conventional mortgage or have their home paid off, this will eventually shake out.
The National Association of Realtors published similar numbers in their February “Real Estate Insights“:
As of the third quarter 2007, prime mortgages accounted for 78 percent of the total loans serviced. Subprime loans made up the second largest group of mortgages –13 percent – followed by FHA loans (7%) and VA loans (2%). Keep in mind that these percentage breakouts pertain to homeowners who have mortgages. There are approximately one-third of homeowners who do not have a mortgage because they have paid it off.
Today, 92 percent of American homeowners – 51 million households - pay their mortgages on time. A recent Moody’s report estimates that just 8.8 million of those households have zero or negative equity. 15.5% of all mortgages seem to be the at risk ones. Did you also know that:
6.9% is the average yearly rate of appreciation of homes since 1952?
30% of all homes in the United States are paid off?
Buyers and Sellers and a Meeting of the Mind
Days on Market for listed properties in Denver has gone down slightly over the past 3 months. While 3 months doesn’t make a trend, it is indicative that our market is stabilizing. In fact, recent economics lecturers have stated that Denver is poised ahead of many areas to pull out of the real estate slump.
Contracts are increasing in my office, showings are up and open houses are busy. It’s nice to see that buyers and sellers can still have a meeting of the mind regardless of what the press reports. Lawrence Yun, the NAR Chief Economist, has stated that he feels by third quarter 2008 there will be a noticeable increase in home sales. A friend of mine who owns a highly regarded real estate company in Denver commented that he thinks the buyers who are buying today will look back in one year and find they’re, “in the cat-bird seat.” He thinks this is the point where the tide is beginning to turn.
The last time this happened in Denver - the late 1980s - many people looked back and said, “man, I shoulda done it a year ago!” I think that people who wait for the bottom often miss it and buy on the way back up. I guess that’s human nature.
What I wouldn’t do is wait for the press to tell you it’s a good time to buy. According to Warren Buffet, “when everyone else is panicking, it’s the time to buy.” (Something along those lines anyway). So go get help with your mortgage from a professional in the business with a trustworthy reputation and a proven track record. Use a Denver Real Estate broker of the same caliber. You’ll find your dream home and quite fretting over the news reports.
| Discussion: 4 Comments »
Downtown Denver’s Development Direction
April 14th, 2008 categories: Life In Denver, Market Trends
2008 Downtown Development Update
Get a comprehensive overview of all of the Downtown development under construction and planned, and observations from experts in the industry as to where Downtown’s commercial, residential, mixed-use, and hospitality markets are headed.
April 17, 2008
7:30-9:00 am
Denver Marriott City Center
1701 California St., Denver
Moderator- Gary Desmond, AR7 Achitects, PC
Panelists-
Kim Koehn, Corporex Colorado, LLC
Bill Mosher, Trammell Crow Co.
Ken Schroeppel, Matrix Design Group, Inc.
RSVP: bwarnick <at> downtowndenver <dot> com
Free for members of Downtown Denver Partnership; $25/all others
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Who Cares About the Earth?
April 12th, 2008 categories: Market Trends, Real Estate News
I just want my lifestyle…
Actions speak louder than words. I drive an SUV and live in a leaky 1938 brick Tudor. Sometimes I even take a long shower and turn up the heat. I piss myself off when I think about this because I also diligently recycle, carry my canvas shopping bags into the store whenever I think about it, and buy energy efficient light bulbs.
More and more often, clients are asking me about energy efficient homes, options for remodeling and how to get to Whole Foods in Cherry Creek. There seems to be a re-surging interest in natural foods, natural building products and how each of us can begin to make a difference, despite our individual lifestyles. Some of us will do more than others, but each of us can make an incremental difference.
50 Simple Things…
Remember the book 50 Simple Things You Can Do to Save the Earth? It hit the bookstores in 1989 and was all the rage for awhile. I bought it and tried to make a concerted effort to adopt many of the suggestions. You can still find the book at Amazon.com and in some bookstores. These days there are also terrific resources on the internet and through your real estate broker or builder. We’ll need more than 50 simple things, but you gotta start somewhere.
Build Green Resources
Building and buying a built-green house is much easier today than it used to be. There are lists describing what qualifies a house as green, and even if the house isn’t officially “green” there are many components that builders are incorporating for energy efficiency that make living more comfortable and more earth friendly. At Colorado New Home Choices, you can find a list of questions to ask a builder when considering whether the home is a high-performing home.
You can also find similar lists as you work toward retrofitting an older home for energy efficiency. Simple things like switching light bulbs and more expensive ones like replacing single pane windows will prove worthwhile in the long run. My carbon footprint is definitely larger than it should be, but I’m trying to kick the oil habit and conserve water ~ you can do it too!
Rebates and Funding Opportunities
Our lovely state of Colorado offers rebates and funding opportunities through the Governor’s Energy Office. If you live out-of-state, check with your local government to see what they have to offer. This green feeling is even extending down to the micro level - where grass roots take over. My company, The Kentwood Company, was just highlighted in The Denver Post regarding our newly announced green campaign.
You don’t have to be an elf or a leprechaun to be green. Go for it!
| Discussion: 6 Comments »
How to Find Your Children’s Next School
April 5th, 2008 categories: Life In Denver, Relocation Tips
This is a guest post written by Diane Sweeney of Spark Innovation. Remember, it’s not all about test scores.
Choosing the Right School for your Child
As an Educational Consultant and a mom with two small children, I have run into countless parents asking for advice on how to choose the right school for their child. Parents have an unprecedented array of choices when it comes to schooling today, and it is this array of choices that is stressing them out. They worry what type of school will best meet their child’s needs. They wonder if they should go public or private. And they fear that they might make the wrong decision. Here’s some advice if you are one of these parents:
Expect the school to be responsive:
Just like other aspects of our consumer-driven society, all schools are in the position to recruit students. It is never too much to ask to set up a meeting with the principal, visit classrooms, or meet with teachers. If a school seems to be less-than-responsive to these types of requests, it is an indication of potential climate issues that should be explored further.
Observe during instructional time:
Find out when the best time of day is to visit so you can observe during instructional time, and be sure to observe across the grades so you get a complete picture of the whole school. While observing, pay attention to how the teacher interacts with students. Does the teacher seem to like the kids? Does the teacher provide enough structure so that the class runs smoothly? Does the teacher also give the students freedom so they have the time and opportunity to discover new learning? My guiding question is always, “Would I want to be a student here”.
Don’t let nostalgia be your guide:
Odds are, if you have school age kids, you were in school about 30 years ago. Just like all professions, education has changed a lot in the past 30 years and schools look remarkably different today than they did in the 1970’s. When choosing a school, parents are sometimes comforted by the familiar, but the familiar isn’t always how children learn best.
Examine how classrooms are set up:
Elementary school classrooms can tell you a lot about instruction. When you visit schools, look for classrooms that have meeting areas where the class comes together to discuss ideas and share. Look for desks or tables that are clustered into conversational settings. Desks in rows, albeit familiar, indicate that students are isolated in their daily work…something that is no longer considered good instructional practice.
Real books are essential for literacy learning:
Classrooms should be bursting with books that are accessible and are at the students’ reading level. Most elementary classrooms today have a classroom library that is organized by reading level. Look for a school that spends money to provide teachers with the tools they need.
Math manipulatives count:
“Math what?” you might ask. Math manipulatives are the hands-on tools we use to teach math so the students not only understand how to solve math problems but also have a conceptual understanding of the math behind the problem. Ask the teacher if and how these are used with students.
Trust that it is going to be okay:
This is the hard part…no school is going to be perfect. Whether it is an upscale private school or the neighborhood school down the street, there will inevitably be challenges for your child. There will be years when your child has a teacher that is terrific and years when the teacher might not be top notch. There will also be times when you wonder if you made the right decision. If you’ve read this far, it’s fair to assume that you are a parent who cares deeply about the success of your child, and for that reason alone your child will be just fine. Well, maybe even better than fine.
Diane Sweeney is Lead Consultant for Spark Innovation, an organization that provides consulting support to school districts across the US. In the past, she has been a classroom teacher, a literacy coach, a trainer for literacy coaches, and an instructor at the university level.
| Discussion: 4 Comments »
Denver’s Gold Coast Offers a Screamin’ Deal
April 3rd, 2008 categories: LifeStyle Listings, Real Estate News
SOLD - March 2009
The best location in Cherry Creek North!
Real Estate in Denver is not faltering as many in the media would have you believe. The Cherry Creek neighborhood is truly a gem in our city. This neighborhood offers world-renowned boutiques and restaurants. 423 Detroit is a sanctuary of sunny airiness to relax in after a hard day of shopping and dining. The outdoor patio is an oasis in the summer and the expansive living space - with a fully finished basement - gives a sense of privacy and luxury in a town home.
- Freshly painted & hardwood floors refinished
- Wired for Surround Sound Throughout
- Custom beveled/stained glass entry
- Sautillo tile entry & bath
- Sunny loft/office overlooks 2 story “greatroom” living room with skylights and Gas Fireplace
- Bird’s Eye Maple & Birch Built-Ins
- Birch Cabinetry
- Granite Countertops & Back Splash
- Private Vine-Covered Patio in Summer
- Plantation Shutters & Vaulted Ceilings
- Kohler Fixtures & Pedestal Sink
- Mirrored Exercise Room/Family Room
- Kitchenette in Basement—Could be Mother-In-Law Apartment
- Master Suite with Jetted Tub, Balcony and Walk-in Closet
- Two-car attached garage
- Walk to Clayton Lane, Cherry Creek North and Cherry Creek Mall, Shopping and Dining Galore
This stunning townhome is offered for $830,000 and is available for immediate possession.
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Doors Open Denver - 150 Years of Denver Architecture
April 2nd, 2008 categories: Life In Denver, Real Estate News
Saturday & Sunday, April 12th & 13th
2008 is the 150th anniversary of the founding of Denver. Doors Open Denver 2008 will celebrate by opening doors representing “150 Years of Denver Architecture” in a FREE two-day event that allows you to go behind the scenes of the city’s significant architectural gems and lesser-known treasures. This is a very special event in our city, and you should plan on attending if you have any interest in our wonderful representation of local architecture.
Spend the day on a self-guided tour of both historic and modern buildings, take an expert-led tour or embark on an Urban Adventure, a self-guided tour based on a theme.
For more information, Project Manager Carol Hiller at 303-282-5073 or caroleyii <at> aol <dot> com.
Highlights from the 1st Doors Open Denver, 2005:
- 31,362 visits by people exploring Denver’s diverse architecture
- 323 enthusiastic volunteers
- 82 public places, secret spaces
- 26 generous sponsors
- 1 successful first annual Doors Open Denver!
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