Inspiring - Spire Condominium Rises in Denver
April 27th, 2009 categories: Life In Denver, Real Estate News
Downtown Denver has seen several developments taking shape. One particularly interesting building is Spire.
Developer Randy Nichols is building a mid-priced condo development aimed at the average price range for a downtown buyer. The development is rapidly rising across from the Denver Convention Center and includes cool amenities like loaner cars and a doggie park on one of the decks.
With 41 stories (483 feet high) and 503 homes (714 bedrooms), Spire will be one of the tallest residential buildings in the Western United States and the first new residential high-rise to be built in the central business district of Denver in decades (24 years). The sales office is now open across the street from the building, and Chad or any of the staff will gladly give you a tour through the models.
Our entire office was invited down for lunch and a tour recently, and we had a great time learning about the Spire development and the city’s idea to make 14th Street a “mini Times Square.”
Denver Real Estate and development is ever changing. We’re fast becoming a city to envy - and the mountain views from Spire will prove that. Downtown Denver is being transformed from a sea of office high rises to an extremely livable and walkable city. Get down there and enjoy!
| Discussion: 3 Comments »
Top 3 Reasons to Understand Real Estate Agency Rules in Colorado
April 19th, 2009 categories: Relocation Tips, Selling Strategies
You’re thinking about buying Denver Real Estate and you’re ready to hire a broker to represent you. What you need to know is that we have very specific rules here in Colorado about disclosing and explaining the rules of Agency to our clients and customers.
There are 3 very important reasons to understand the Colorado Agency Rules before you get started:
1. Is Your Broker a Coach? I like to explain to people that an Agent (a Buyer Agent or a Listing Broker) is like a coach. We have a fiduciary obligation to represent your best interests, negotiate on your behalf, uncover issues with the property that are discoverable and disclose any pertinent information we might have or learn. Your coach puts you in the game, advises you how to play and roots for you all the way.
2. Is Your Broker a Referee? If your agent is working for you as a Transaction Broker (sometimes called a TB) then you can think of her as the Ref. The referee runs up and down the field and makes sure the game is played fairly. A TB will owe you the duty of honest and fair dealings, but will not be able to advise you or represent your interests. It’s required that a broker who is working with both the buyer and seller either be a TB or keep the Agency relationship with one client and treat the other as a “customer” - someone he has no brokerage relationship with at all. It’s not inherently bad to have your broker be a TB, but always ask in what capacity is your agent working with you.
3. Do You Have Anyone in Your Corner? If your broker is representing the other party as an Agent and treating you as a customer, you might want to rethink that relationship and get some help and advice. I’m always amazed at the people who will walk into an open house, say they want to make an offer, but also say they want to do it on their own to, “save the co-op commission.” People, really! This is probably the most complex and expensive purchase of your life! Get someone who understands the ins and outs of real estate to help you. If you like the broker at the open house, ask her if she can be a TB (her sellers would have to agree.) You can also ask her to make a referral for an outstanding Buyer’s Agent. You might even want to engage the services of a crack real estate attorney. We aren’t required to use attorneys in Colorado transactions, but someone should be in your corner.
For more information on Colorado Agency Rules, you can visit the Colorado Real Estate Commission site. And one more thing - these disclosures are supposed to be made in writing! Ask your broker for the Definitions of Agency if you’d like a more thorough description.
| Discussion: 5 Comments »
Doors Open Denver 2009 - A City Celebration!
April 16th, 2009 categories: Life In Denver, Real Estate News
2009
Designing Denver
Saturday & Sunday, April 18 & 19
10am-4pm
Denver Real Estate isn’t all about buying and selling homes, condos or office buildings.
Our fair city has an impressive number of architectural gems and interesting public spaces. This weekend, celebrate the annual Doors Open Denver and visit the buildings you’ve always been interested in learning more about.
Doors Open Denver celebrates the architects and architecture that have shaped the city of Denver and influenced our growth and development. The event is free, offering the perfect opportunity to go inside some of our city gems which are rarely open and available to view.
The Doors Open Denver website lists the buildings that will be open, as well as offers ideas for tours and maps. Button up your coat - we expect our last spring snowstorm tomorrow - and get out into the city. A little snow never slows us down!
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What’s Hot in Denver Real Estate?
April 13th, 2009 categories: Market Trends, Real Estate News
I was interviewed a few days ago by Lane Lyon of Channel 7NEWS.
Below is an excerpt of the report that aired as the lead story.
Denver Real Estate trends are reported here every month and the March analysis was just posted last week.
Channel 7 - Real estate agents aren’t shy about discussing a red hot market being felt in the lower- and some medium-priced segments of the housing market. “In fact, one of the agents in my office told a story this morning about how they were in bidding war and there were eight offers on the property,” said Gretchen Faber, Broker Manager with The Kentwood Company at Cherry Creek.
Faber said the property was listed around $250,000. Properties that are moving faster seem to run from $150,000 to $400,000, Faber said.
“That’s the segment of the market where we’ve seen multiple offers, buyers having to make quicker decisions. The good properties that show well and are well-located are selling,” Faber said. “The higher price range is picking up, but it’s still a slower segment of the market.”
According to data released Tuesday by Metrolist, the average price of a single family home last month was $232,395, which is up seven percent from February. The housing report also showed that listings under contract were up 15 percent last month compared to February. Sales volume, or the amount of homes that were closed on, increased 29 percent. Sales were down 14 percent when compared to March 2008, the report showed. The single family home designation includes both residential and condominium properties.
“We have a good combination of affordability and low interest rates,” Faber said. She anticipated that overall market conditions will follow the positive strides being made now with lower priced properties, and said Denver is routinely ranked high in national studies in terms of market recovery and a place to buy property. “I think Denver is a good bet,” Faber said.
If it’s on TV it must be true - right? 
| Discussion: 1 Comment »
Denver Colorado Real Estate | March 2009 Market Statistics
April 6th, 2009 categories: Market Trends, Real Estate News
The Denver Real Estate market statistics have been posted and our market continues to show signs of strength.
If you live outside Denver, you may have heard about real estate sales as a leading indicator of Denver’s recovery. The conventional wisdom is that we didn’t see the incredible highs of other real estate markets, and so we didn’t have as far to fall. In March we had 20,628 active listings in our local MLS, which is 2.84% more properties for sale than in February.
This says that even in these typically busy spring selling months, we’re not being flooded with new properties coming on the market. We still have 19.16% fewer homes available than this time last year.
It’s a good thing, it gives us some time to sell off the inventory we have and keeps a floor under any further decline. Prices are still trending downward from last year, a reflection of the propensity for lower priced homes to be selling right now. In other words, the mix of the homes that are actually selling is trending toward the lower prices and higher priced homes are taking longer to sell. Although prices have risen 6.60% since February - again pointing to more stability than other areas of the U.S.
The number of days it takes to sell a house is still slowly declining, one of the reasons prices are on the uptick. Buyers are actually having to make offers faster and can even miss out if they wait too long.
Great news for Denver! Rates are low and prices are excellent - a healthier market is on tap for 2009.
| Discussion: 3 Comments »
Denver as a Leading Indicator - Real Estate Rebound
April 2nd, 2009 categories: Market Trends, Real Estate News
Forbes Magazine mentions Denver in this week’s article about the most stable cities in the U.S.
Search for Denver Real Estate and use the cool mapping tool to locate exactly where you want to be.
We’ve been busy with open houses, buyer inquiries from the internet, and people generally excited about the low interest rates. Rates are unlikely to fall any further, and prices are also unlikely to decline a whole lot more.
Be aware that most people look backward and decide they “should have.” Perhaps if you aren’t interested in moving, you might like to invest in a rental property. Did you know you can do just that with your IRA or 401k money?
Send me an email and I’ll be happy to help you find the perfect property!
| Discussion: 2 Comments »
