In Defense of the Turkey
November 26th, 2008 categories: Life In Denver
I have a friend, Diana, who happens to be a vegetarian. Not like me, a partial vegetarian who doesn’t eat red meat or pork. Diana doesn’t eat any meat at all.
A few years ago, she told me they were going to have something called a “tofurkey” for Thanksgiving. It didn’t much surprise me, Diana has introduced me to the best vegetarian restaurants in Denver, so I thought she could whip up a mean tofu turkey. We’ve been to Water Course and found a lively delight of a restaurant. I was a bit concerned that the main course was going to be water, judging from the name on the door, but ate the most inventive dish of tofu ever on the planet. A couple of times, Diana has taken me to Govinda. I won’t provide you a link there - this happens to be the restaurant inside the Hare Krishna temple and it takes a strong sense of self to walk in there for lunch.
Growing up in Laguna Beach, California afforded me an intimate view of the Hare Krishnas. They danced around the town every weekend banging their tambourines and chanting. This was 1970’s California, so we just figured everyone was stoned. One year, I had to do a research paper on religion and chose the Hare Krishnas to study. I was curious about who they were and why they danced around in packs every weekend. The only thing I remember from my research is that they shave their heads except for the little pony tail in the middle so that God can yank them to heaven. I pictured how much that would hurt, God yanking you by a little pony tail, ripping out your hair as you fly up to heaven.
You can imagine that when Diana suggested we try Govinda for lunch, I had a little trepidation. I like my hair just like it is, thank you. I hoped we’d come out unscathed, since Diana is closer to a Southern Baptist rolled into a Zen Buddist, and not anything remotely resembling a Hare Krishna. Lunch was a buffet of unrecognizable lentils and vegetables that tasted absolutely fabulous. Truly a fun dining experience. No one proselytized us, no one came at us with a razor to shave our heads and everyone is welcome.
When I later asked Diana how the tofu turkey was, she said lousy. I couldn’t believe it - she couldn’t get the tofu turkey to cook up right, and she said the taste and consistency were disgusting. Their family has no plans for fake turkey in the future. They’re experimenting every year with how they can celebrate Thanksgiving “turkey free.”
I really don’t think you can. You can celebrate Passover brisket free and Christmas ham free, but you can not celebrate Thanksgiving turkey free. At least I can’t. I can skip the sweet potatoes, the pumpkin pie and even the mashed potatoes (if I really had to,) but the turkey and stuffing are beyond blissful.
My mother taught me to cook a turkey, but the first few attempts were a challenge. My father loves to remind me every year to “turn on the oven” with a grin. He lords it over me that my first turkey didn’t finish cooking until 10:30 at night. You can guess why. My sister cooked her first turkey upside down. I thought that was funnier than forgetting to turn on the oven, but she didn’t. The best way to cook a perfect turkey? Get a cooking bag and bag it up. It bastes itself and you do nothing until it’s ready to pull out of the oven.
So enjoy your Thanksgiving, remember to turn on the oven, and pass on the tofu this time of year.
Lifestyle Denver is a local Denver Real Estate blog loaded with real estate and lifestyle information about the Denver, Colorado region.
| Discussion: 5 Comments »
Denver, Colorado is 150 Years Old!
November 21st, 2008 categories: Life In Denver, Real Estate News
Denver will be celebrating its 150th anniversary tomorrow. We’re proud of our silver and gold mining roots, and of the much more diverse economy we have today. The Denver Board of Realtors was formed in 1886 as one of the first real estate trade associations in the U.S., so we are obviously ahead of the curve in promoting and protecting private property rights here in Denver.
The Denver Post has written a number of interesting and fun articles about where we’ve been and where we’re going. And Denver is certainly going places. Our Denver Real Estate market is in the news lately as one of the more stable and well-positioned markets in the U.S. Smart Money Magazine listed Denver as a city-to-watch in their November 2008 issue.
On Saturday, November 22 visit these Denver venues for a FREE day and help us celebrate our city’s birthday:
Denver Zoo, Colorado History Museum, the Denver Art Museum, and Denver’s Museum of Contemporary Art.
Enjoy your weekend!
| Discussion: 1 Comment »
Colorado Real Estate Bloggers Talk about Denver, Colorado Real Estate
November 17th, 2008 categories: Real Estate News
Denver and Colorado real estate agents are full of great information about what’s going on in our city and state. You may not have read some of these people, and I wanted to introduce you to a few of my favorite local voices:
Denver Modern Homes - Todd Carpenter isn’t a real estate broker, he’s more focused on the mortgage industry and being a consultant for internet communication and marketing. Todd also has a passion for Mid-Century Modern architecture, and he puts up really interesting information about modern homes for sale and events in Denver.
Kristal Kraft has been blogging since blogging began. She writes Denver Real Estate and is very knowledgeable about mortgage programs, short sales and golf courses. Kristal is also a fabulous photographer, so you’ll enjoy her pictures.
Larry Hotz is a colleague of mine at The Kentwood Company in our DTC office (a different office from my Cherry Creek office). Larry has also been writing his blog for a very long time, and he includes interesting guest posts from real estate pros in other areas of Denver. You can also catch the official Kentwood Companies blog at Kentwood blog.
I’ve never met Ken, but I’ve been reading his Denver Infill Blog for months. He’s apparently a city planner (rumor has it) and this is the go-to blog for information about what projects are on tap in Central Denver.
Interested in Colorado Springs real estate? Check out Mariana Wagner’s blog - she fills it with important market updates on her area.
Thanks for reading my blog, and I hope you enjoy these as well. Another great read is a recent post here on the Eight Home Closing Essentials.
You can easily search for homes in the Denver Metro area on my web site, which includes state-of-the-art mapping so you can plot out your favorites.
| Discussion: 6 Comments »
Denver Colorado Real Estate | October 2008 Market Statistics
November 11th, 2008 categories: Market Trends, Real Estate News
I’m waiting in the airport in Orlando after the week-long National Association of Realtors conference, and I’m ready to get back to Denver and to selling Denver real estate.
Of the many things I’ve learned while I was here, one is how many real estate brokers feel that Denver’s market is preferable to theirs. Many times, when I introduced myself, I heard, “Oh, I wish I was selling there.” The perception is that Denver’s real estate market is beginning to build up strength ahead of many other U.S. cities.
As I’ve said in past articles, our low to mid-range homes are selling most quickly now. It’s becoming very evident that when affordability aligns with buyers’ earnings and qualification potential, then buyers will re-enter the market.
Looking at the chart from Denver’s MLS, Metrolist, you’ll see that average sold price is down over 12% from this time last year. This is a result of lower end homes selling better than high end homes. It’s also a reflection that affordability is improving. Homes’ affordability, combined with decent mortgage rates, is driving many buyers off the fence.
We also have 20% fewer homes on the market from last year in October. This is more informative than looking at the 3.36% reduction since last month. Why? There is most likely a seasonal factor informing the number from last month. Sellers are not putting their homes on the market this time of year, and so we typically see a decline during the 4th quarter. However, the huge 20% decline since last year is very good news. We’ll probably see more pent up demand from buyers as there are fewer homes to choose from.
We’ll also begin seeing the days a home is on the market shrinking. You can already see a slight decline of just over 1% for single family and condo properties combined.
There is a collective holding of the breath to see where we go from here. The U.S. recession could become intractable in coming months, and this could well affect Denver’s nascent recovery. However, we have strong employment, a diverse economy, and a fabulous lifestyle in our corner.
September 2008 Market Stats available here.
Please subscribe! Click RSS or Subscribe by Email to receive regular updates from LifeStyle Denver.
| Discussion: 3 Comments »
Gretchen Faber Garners Omega Tau Rho Medallion of Service Award
November 9th, 2008 categories: Real Estate News
I just noticed that my company issued the following notice. I thought I’d share it with you, and take this opportunity to thank my colleagues who make real estate truly a cooperative business:
Gretchen Faber, managing broker for The Kentwood Company at Cherry Creek, recently garnered the Omega Tau Rho Medallion of Service Award for leadership. The award is bestowed upon Realtors who meet specific leadership criteria on local, state, and national levels. Once a Medallion is awarded, the recipient is a member of the prestigious Omega Tau Rho Fraternity for Life. Amy Dorsey, president of the Colorado Association of Realtors (CAR), announced Faber’s award along with two additional recipients during the opening general session of the CAR state convention held in Colorado Springs on October 20th.“We are extremely proud of Gretchen and she is most deserving of this distinguished award from Omega Tau Rho Fraternity,” said Roger R. Campbell, president of The Kentwood Companies. “Gretchen is very dedicated to the real estate profession and her clients. She is also devoted to the leading real estate professionals in our Cherry Creek office and is among the finest managing brokers in the country. We are pleased to have such an industry and community leader on our team.”
Gretchen Faber earned her real estate license in 1996 and currently serves the diverse real estate needs of clients throughout several central Denver neighborhoods, in addition to her duties as managing broker of the top-producing Kentwood office. She is a member of the Denver Board of Realtors and its prestigious Million Dollar Roundtable for sales production, and the National Association of Realtors. Faber holds the Certified International Property Specialist and Certified Residential Brokerage Manager designations recognizing the successful completion of stringent continuing education courses in real estate.
Faber has volunteered for the Children’s Hospital Foundation and is a former member of the Junior League of Denver. She holds a B.A. degree in International Studies and Public Affairs and earned her MBA in Marketing from the University of Denver. Faber chose The Kentwood Companies because “no other company matches our firm for its professional culture and business practices.” She enjoys skiing, gardening, and blogging, and is a member of a book group.
The Kentwood Companies are comprised of The Kentwood Company in the Denver Tech Center, The Kentwood Company at Cherry Creek, and Kentwood City Properties in downtown Denver.
| Discussion: No Comments »
Denver Economics - Real Estate Market and Current Trends - part 4
November 6th, 2008 categories: Market Trends, Real Estate News
Last week, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media were there as well.
I’ve been presenting to you the highlights from each speaker, but am writing one at a time. In this final article, we hear from David Mandarich, President & COO of Richmond American Homes.
Mandarich opened with the bold exclamation “Now is a better time, the best time to buy a house!!!! Let’s get excited! I’m so glad that I live in Denver, so proud to be part of this community.”
“What we experienced in 2005 & 2006 from local builders is a lot of overbuilding. We saw an interesting phenomenon during this time. Speculators. People were no longer viewing a home as a place to live but rather looked at it as an opportunity.”
He continued, “Here we all are in 2008 with a hangover from the party of buying and speculating in 2004 and 2005. We are living through that foreclosure process. You have a lot foreclosures in Las Vegas, Phoenix, and other markets. Why did this happen? Real estate values went down. In California, if you bought a home in some areas of California in 2005, the average home was priced around $550-$600K. Today that house is worth $350,000. People don’t have motivation to stay in those houses anymore.”
Mandarich also stated, “We are in Denver and glad to be here. Denver has a great story, different than most cities in America. Other markets like California and Arizona feed into Denver.”
Mandarich furthermore questioned, “What trends are we seeing in new houses? We are seeing across the country, people today are looking at a house more as a home than as an investment. Today the average square footage is smaller across the country than it is in Denver. Today’s average sales price for Denver is in the $300’s. Other places, is around $200-$240K. That’s one of the challenges that we have in Denver.”
“Richmond American is soon coming out with a product of single family detached homes in the $200’s. Recently, in Denver, the only way to get into a lower priced home was to buy an attached product. We’re adjusting to that.”
“Negative press has really hurt our consumers,” he stated. “Once that disappears, we’ll have a healthy market in Denver. There will be a void to fill because many builders left town. The real challenge in housing is that most of the banks don’t want to lend money to home builders. A lot of the big national banks have a moratorium and do not make loans to home builders . The banks have seen a lot of credit defaults where they have had to take properties back. For some smaller home builders, it is very hard in the Denver market to get a construction loan. Banks are concerned about lending to home builders. ”
“What does all of this mean for consumers,” he shouted. “Now has never been a better time to buy a new home in Denver!”
For more information about Gretchen Faber’s real estate listings, or the Denver real estate market visit www.gretchensdenver.com. This comprehensive real estate web site includes all available idx listings in Denver as well as state-of-the-art mapping and search software. Also included is relocation information for those people looking to relocate to the Denver area.
| Discussion: 2 Comments »
Denver Economics - Real Estate Market and Current Trends - part 3
November 3rd, 2008 categories: Market Trends, Real Estate News
Last week, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media was there as well.
I plan on presenting to you the highlights from each speaker, but am writing one at a time. Today, let’s hear from Erik Davidson, the SVP and Senior Director of Investments for Wells Fargo Private Bank.
He questioned, “Are we in a recession obsession?”
Davidson explained, “Recessions are neither good nor bad, In the past 50 years, there have been 80 recessions and economists have predicted 11 of them.” “The last recession ended on Nov 30, 2001. Economists declared that recession on Nov 26th, 2001. So you see, they are difficult to forecast.”
Erik joked, “A recession is when your neighbor loses his job. Depression is when you lose your job.”
If you review the chart for Consumer Confidence in Davidson’s power point presentation, you’ll see we are facing a challenging time. Erik continued, “The Misery index is back to where we were in the early 80’s. Are we in a triple bubble? A housing bubble, a credit bubble, and a commodities bubble? The magnitude is not just 3X a single bubble. With those 3 factors combined, it causes a higher magnitude of result.”
Chart of Consumer Confidence for 1986 through September, 2008
Erik concluded, “What does all of this mean? We will probably go into a recession. It’s probably going to be deeper and longer than what we have experienced in the past, more difficult than what some of you remember from the 70’s. There are still some reasons for optimism though. Denver’s employment growth is still much higher than the national average. The reason for this is Denver’s diverse portfolio of industries: Professional businesses, education, health, construction & mining, trade & transportation, leisure & tourism plus many more.”
One of Erik’s big concerns, he explains is that currently 56% of US treasuries are help by foreign investors. “We in the United States have been the recipients of a tremendous amount of foreign aid from China, Japan, etc.”
“What is causing all of the foreclosures? Is it a sub-prime crisis or an ARM crisis? 2/3 of our subprime loans are adjustable. ” People have seen their payments jump dramatically. This suggests that the crisis was founded with too many adjustable rate mortgages. Borrowers really didn’t consider they’d be repaying at the higher levels. People thought the housing prices would continue to rise, and when their mortgages adjusted they’d either refinance or sell.
Colorado has been better than the rest. Unemployment in Colorado is lower than the national average. Employment still showing positive growth in Colorado. The Denver economy is very diverse. Our economy is much better suited to withstand blows to single sectors. The rest of the country has been experiencing extreme highs and lows. We in Denver were only at 4.7% decline for housing prices, while the national average is at 15.9%.”
Erik coached the audience, “Denver is better than the rest! Be opportunistic! The best and most important thing for an investor to remember is to accommodate the markets. You want to be buying when others are selling and you want to sell when others are buying.”
“The 4 most dangerous words in investing are: “this time is different.”
For more information about Gretchen Faber’s real estate listings, or the Denver real estate market visit www.gretchensdenver.com. This comprehensive real estate web site includes all available idx listings in Denver as well as state-of-the-art mapping and search software. Also included is relocation information for those people looking to relocate to the Denver area.
| Discussion: 1 Comment »
