We’ve added 1,009 properties in the past month.  767 new single family residences and 242 condominiums.  And more are on the way. I predict that the natural growth in inventory this time of year will continue to increase through the spring and may flatten out a bit over the summer.

This is good news for buyers who feel they’ve seen everything but nothing on the market fits their needs. Buyers who are in this boat must understand that they won’t be able to bargain like they once could. With the floor back under our real estate market and Days on the Market continuing to shrink, the bargain has already been factored into the price.  On average, properties are selling nearly 12 days faster than they did a year ago.

Another interesting point to notice is average price - up nearly 13% for single family residences from last year.  However, the prices were down from December to January.  Sellers in December were realists and wanted to get their property sold and closed.

One final interesting tidbit - look at number of properties that went under contract last month.  We’re down from last year!  What does that mean? It means that sellers, even with all of the good news above, need to stay realistic about their chances to sell their home. We look to written production to forecast what is pending.  There were fewer offers written this January than January 2009.  So with the increase in inventory, sellers have only two ways to compete - price and condition.  You must stay on top of what the market is telling you.  And what your broker is telling you! As I’ve said in the past, you can’t market your way out of this.

Do I appear to contradict myself? That’s because every house, every nuance of the transaction, even the players in the deal are all distinct from other deals.  Real estate is local, hyper local.  One house might be well priced and in analyzing comparable sales should sell for near the asking price.  Another house might be very over priced, and based on a similar analysis should be reduced. We also try to quantify for location issues, non-finished basements and improvements.  Pricing isn’t an exact science, it’s a bit science and analysis and a bit of a meeting of the minds.  This past month 2,353 people had a meeting of the minds in Denver, Colorado.

Gretchen Faber writes LifeStyleDenver.  Visit Gretchen’s web site for property searches, mapping and relocation information.

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This seems like a great alternative to saving quarters, or trying to keep the parking machines from tearing up your credit card.  So far, though, the buzz is that people aren’t taking to the phone-in alternative.

Setting up an account is easy, but thinking about it ahead of time is probably part of the problem.  Shoppers don’t usually plan in advance.  Diners in the neighborhood rarely make a reservation, and more often just troll the restaurants looking for an available table.

This is a great solution for Cherry Creek regulars or workers.

If you’d like to try the phone-in option for Cherry Creek parking you can call 888-480-7275 or go to www.paybyphone.com.

Once you sign up for the service, you’ll call the toll-free number and enter your location number.  Your credit card will be charged and you’ll get the added bonus of a text message reminder before your parking time expires.  Another convenience is that you can add to your time (up to the 3 hour limit) without having to walk back to your car to do it.

The Denver Public Works Department is trying this new system for a 6 month trial.  If it doesn’t catch on, they may eliminate it.  If it does, they’ll look at expanding the program to other areas of the city.

I have plenty of quarters, but when I run out, I may try this system.  If you want to look for houses in the Cherry Creek area, let me know - I’ll cover the parking!

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I got my credit score the other day.  We’re about to refinance our house and this was the beginning of the process.  My score was always stellar - high 700’s at one time over 780.

This time my score was just below 720.  By some people’s standards, not bad. Well, in this lending climate it’s not great.

When I began selling real estate over 14 years ago, a score of 620 or higher was considered pretty good.  At the end of the last decade, 680 was the minimum needed to get favorable rates.  Last Spring, the minimum score needed for the good rates was 720, and now lenders say borrowers need a score of 730 to 740.

What drove down my score and what should borrowers pay attention to?

1.  My former husband had two credit card accounts that were closed, but for some odd reason were being reported with balances.  I never had this particular brand of credit card, but I was listed as an “authorized user.”  This was bad news for two reasons: first was the reported balances, and second was that these two cards, on top of my actual credit cards, skewed my ratios to look like I had way too much unsecured credit.

2.  I got in a fight a few years ago with a certain Visa issuer (Chase.)  One day, I decided to check my account on their site. This somehow changed my bills to paperless, but I didn’t realize the change had happened.  Subsequently, I read that this happened to scores of people.

I waited weeks for my bill, called Chase and told the rep I hadn’t received it, and his response was, “huh, we mailed it.”  A week later, still no bill. I again called and authorized a draft over the phone.  What did Chase do? They reported me as “seriously delinquent.”  More than 30 days late.

I called Chase again and begged.  Pleaded.  Explained that I’d had their stupid card for years and had never missed a payment.  Their response? “Well, you missed this one.”

What did I do then?  Totally peeved, I closed the account. Take that Chase!

Guess what that did to my credit report?

Again, this was bad news for two reasons: first was that I had a “serious delinquency” and the other was that the account stated, “delinquent, closed.”  That does not look good to the credit agencies.  Plus, a seasoned or older card is much more valuable on your score.

3.  Finally, two of my credit cards were nearly up to the credit limits.  Credit reporting agencies want to see your revolving credit be only about 30% of the limit.  So if you have more than one card, spread the love, but not more than 30% of it.  And of course, pay by cash as much as possible. That’s our new mantra - cash. Forget the miles. Use the cards a little to keep the credit agencies interested and your score high.

The good news is that these items can be relatively easily fixed for many people.

• Pay off as much revolving debt as you can, spread your debt over the cards you have.
• Don’t cancel cards you’ve had for a long time, just stop using them.  Seasoned cards bear a lot of weight on your report.
• Don’t apply for too many credit cards.
• Make sure that your credit report is correct and dispute cards or other debt that appear and don’t belong to you.

After 30 days, your score will begin to come up and it should happen pretty quickly.  MSN Money has written about fixing your credit score and you can check your credit report at Experian.  Keep in mind that you do not need to pay for your credit report, you can access a free one every year.  However, these reports typically do not include the FICO score that lenders use to evaluate you.

According to my lender, the basic fixes I did should positively impact my score in about a month.  If you’re thinking about buying or refinancing a house this year, begin to get your score straight now.  You may need more than 30 days or you may already be Platinum!

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In fact, one thing I completely rejected about my new hometown was anything to do with western wear, western culture or cows.

My boots were ski boots, and my jeans were definitely not boot cut.  I attended the National Western Stock Show and Rodeo a couple of times, and while it was somewhat fun to watch the little kids chase pigs and the high school girls proudly carry flags on their horses, I couldn’t stand the smell.  The odor of cows, pigs, horses and fried food definitely got me down.

About three years ago, I got a new attitude.  I went to the stock show twice that year and once the next year and had a blast.  I embraced my “new” hometown’s culture and even bought cowboy (or girl) boots. I love them!  It’s true what they say, those boots are comfortable!

So from a novice’s perspective, here are the top 5 things you should see or do at this year’s Stock Show. It runs two more weeks, until Sunday, January 24th at the Denver Coliseum. Just follow your nose and you’ll find it.

1.  The Rodeo:  Bareback riding is an awesome feat. Watching those guys ride their bucking broncos gives new meaning to buns of steel.  The barrel racing is an exacting sport of speed and finesse.  The rodeo is an inspiring ode to Americana and regardless of the smell, something everyone should see.

2.  The Horse Show: The horse shows feature many styles of riding and breeds of horses - hunters and jumpers, Arabians, American Saddlebreds, Appaloosas, Morgans and equitation classes.  A fun show for anyone who’s ever ridden a horse or would like to.  This is what we would aspire to.

3.  The Shopping:  This should probably be number 1 coming from me.  In the concourse of the Expo Hall there are hundreds of fun and unique booths.  This is where I got my boots.  You’ll also find hats, leather goods, beautiful artisan pieces, fun clothes and crazy things like cedar furniture, bobcats (for driving around your farm) and beer bottle nightlights.

4.  The Exhibit Halls:  Bring your children and wander through the exhibit halls.  You’ll find many beautiful and interesting animals.  Calves, sheep, chickens, lambs and more varieties of cow than I knew existed.  Remember your hand sanitizer, last year a few children got sick after visiting the petting zoo.

5.   The Junk Food:  I’m not a junk food junkie.  We stay away from all that and lean more toward brown rice and salad. However, you can’t visit the stock show without eating something fried.  Fried anything.  Grab a snack or a meal, find a table in the concourse and get back out to the show!

Have a great time at Denver’s Stock Show 2010!

And if 2010 includes the prospect of a new “ranch” for you, contact me for help in buying the new one or selling the old!

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Not really.  December was another interesting month in Denver Real Estate.  Inventory was naturally down, as it typically is this time of year.  We’re down to 16,456 active listings. That’s the lowest number of homes on the market since before 2006 when the available MLS records stop.  Meaning buyers have less to choose from than in the past 5 years.

The highest number of listings was in July of 2006 with 31,989 homes on the market.  We’re almost 50% off that number.

I remember one day back in 2006 pulling up listings in Highlands Ranch to show to buyers I was working with. I had a match of over 500 homes for their criteria.  It was a chore to eliminate properties to get a rational number to view.  First everything with an unfinished basement was tossed. Then the small yards, then homes that were near busy streets.

Only the creme de la creme made it to a showing.

This month, we’re struggling to find properties to show to buyers.  There are some great homes still on the market, but many are stale for a variety of reasons.  Some have location issues, many are still over priced, some aren’t finished as nicely as their competition.

Sellers have an opportunity. Right now! They need to get their house in top showing condition and get it on the market.

Average sold price is up: 7.13% since November and 13.59% since this time last year.  This number has been driven up by the sales in the lower price points. High end homes are still lagging.

Sellers - now is your time. Buyers want to take advantage of the home buyer tax credits.  They have pent up demand. They don’t want to miss out on low rates.  Get your house ready and get it on the market.

Buyers who were worried that the tax creidt was expiring in November hurried up their closings, and November sales were way up.  December closings were down, but with the tax credit extended, the holidays over and rates still low - sales will undoubtedly begin to increase this month.  The contracts written in January will close in February and March, so watch for closed properties to increase in those months.

The state of the economy is still in debate, but what is the average Joe doing? Joe the Plumber? Joe the Snowboarder? They’re starting to think this might be a good time to move.

Check out all the Denver area listings on my website; www.GretchensDenver.com and let me know when you want to buy a new house!

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Denver real estate is number 1.  According to today’s release of the latest S & P Case Shiller Report, Denver’s real estate market declined the least.  We’re number 1 because housing values went down just .1% from October of 2008.  The rest of the 20 cities monitored by the report declined more than Denver year-over-year.  Not one monitored city increased values year-over-year.

Actually, if you break our market down further, there are some serious rays of sunshine in Denver.  The condo market jumped 50% in number of sold properties since last year.  The average sold price for single family homes in November was up 9.5% to $265,498.  The starter home price point is so busy that buyers are competing for properties.

Our high end market is still languishing. Most days lately, I’m hearing stories about a high end sale here and there. That’s good news, but these sales are almost always coming with big price concessions from sellers.  You can read more about a local perspective at John Rebchook’s Inside Real Estate News Blog.

We’ve been saying for awhile that Denver is turning a corner.  Since I moved here in 1982, we’ve been a counter cyclical city. We’re ahead of the curve in recovery.

What does 2010 portend?  The first half of the year will be very good for real estate sales here. But after the tax credits end, and when the U.S. stops buying Treasuries we may be in for a bumpier recovery.  Let’s hope that we’ve laid good groundwork with increased job growth and a stable local economy to stand the test of time.

In the meantime, let’s go skiing!

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I looked across the parking lot to see where the pooch was headed, and there was a store called Two Pals & A Pup.

“Duke needs a stocking gift!” I thought.  So I hurried over to run one last errand.

Inside I found a warm and inviting shop filled with everything dog.  Home made treats in the bakery case, toys, collars and lots of love for the doggie and human customers.

If you have a dog in your life, stop over to Cherry Creek and check out this adorable new addition to the neighborhood.

And if you’re in the market for a tailor - I highly recommend Cherry Creek Tailoring. I’ve been a customer of Hamdi and Kiraz Sahin for over 24 years - I discovered them when I was an undergraduate at the University of Denver and needed a formal altered.  They are fabulous tailors and lovely people.  Customer service is very important to them, and I wouldn’t go to any other tailor in Denver.

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That’s not an exaggeration. It’s December 21st and I just got an offer on a listing which went under contract today.  Our office rocking. The contracts keep coming in.

And we all had a great time dancing to the King of Pop last week at our office party.  The mood is light years away from the dreadful, scary, morose feeling everyone had a year ago.

Not to say that things can’t fall apart on a dime. We’ve learned that a few times in the past decade.  But when the going’s good you need to embrace it.

The Denver real estate market is setting the tone for an excellent 2010.  This will be a very different year and buyers and sellers should be prepared to adjust quickly.

Looking at November’s market statistics (Christmas cookies took over for timely posting) you can see that Denver’s inventory is extremely low. This is more than just a typical seasonal adjustment. It’s a reflection of sellers’ pricing reality and buyers’ pent-up demand.

Our market is up 23% from this time  last year!  That’s an incredible statistic. In the words of Steve Harney, “You have to be dumb or broke not to buy a house right now.”  A new house, an investment home, a move up, a downsize - this is your time, baby.

The average price is also up just a shade from last month and over 5% from last year. Sellers - don’t expect this number to magically increase at a rapid rate. Prices will remain deflated for awhile, but as the market picks up steam, prices will too.

With average days on market at 81 days, inventory will continue to sell off quickly and buyers’ lament will be that there’s nothing to look at.

After January 15th -when the market breathes new life every year - we should see an increase in inventory, and an increase in sales.  Properly priced and showcased homes will not languish on the market in 2010.

Happy Holidays to everyone!  Thanks for reading LifeStyleDenver for two years.  Keep coming back and let me know if you want to list your house or find a new home in 2010.

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Have you ever done it in tennis shoes?

I have, and my former father-in-law never failed to remind me that girls from California should seek footwear advice from a local before heading to the Rockies to chop down a tree in December.  (Ex-father in law, you see.)   He took great enjoyment from reminding me of that little faux pas.

Which is sort of like my father asking me if I remembered to turn on the oven whenever I’m cooking a turkey.  Ha ha!

Colorado offers some lovely places to chop down your own tree. I’ve chosen the top 4 closest to Denver.  Most are less than 2 hours away, many even closer.  It’s really a treat to hike out into the forest, find just the right tree and haul it back to the car - only to discover that it’s actually 12 feet tall and your ceilings are 8 feet.  Beware - the trees look a lot smaller in the forest than they do in your living room.

We went into the national forest at Red Feather Lakes to get our tree. That was fun, good for thinning the forests, and you get a really natural organic tree. Plus, the price is right!  Typically $10 for a permit.

1. State and national forests:

Christmas tree permits, which allow you to cut your own Christmas tree on public lands, are now on sale at National Forest/BLM offices and some retail outlets.  Permits come with a brochure, which explains regulations and offers helpful tips. National Forest/BLM offices also sell maps and offer free advice on the best areas for tree harvesting, and the best species of tree to cut.

• Denver & Front Range Areas: Four primary cutting areas along the Front Range in the Arapaho, Pike and Roosevelt National Forests serve metro Denver and surrounding communities.  See their website for more information on permits, etc.
•  Permits: $10 each. One tree per permit. Limit 5 permits per person. All sales are final.
  Area Entry Hours: 8:30 am to 2:30 pm - For your safety, no entry is allowed before or after these hours.

2.  Colorado state forests:

Christmas tree cutting permits at Golden Gate State Park - A limited number of permits are usually available for the Golden Gate Canyon State Park, just 30 minutes outside of the Denver metro area.  This usually takes place over 1 weekend.  Areas for both four-wheel and two-wheel drive vehicles will be available, with some hiking required.  The tree permits will be available at the Golden Gate Canyon State Park Visitor Center located at 92 Crawford Gulch Road, 15 miles west of Golden.  To reach the Visitor Center, turn west on Golden Gate Canyon Road, off of Highway 93.  Permits will be sold from 9 am to 4 pm daily, while supplies last.  Permits may also be purchased over the phone with a credit card by calling 303-582-3707.  Visitors must pick up their permits at the Visitor Center prior to cutting.  A detailed map with additional information is provided with each permit. The 2008 permit cost was $20.  Permits were discounted to $10 for those with a State Parks Pass.

3. Christmas Tree Acres:

This tree farm has been selling cut-your-own trees since 1986, and the owners are there to help. They point out that a fresh tree will last much longer than trees that were chopped down weeks ago and trucked in from a different climate.

For prices and directions call: 970-284-6061

23003 County Road 39, La Salle.

4. U Cut Tree Farm

This 80-acre lot offers several varieties of trees, including Scotch Pine, Douglas Fir and Blue Spruce.  You can ask the owners about the pros and cons of each, but here’s a description from the US Forest Service site.

At U Cut, you’ll drive up for directions and then you can take your car out into the lot to find your perfect tree.

For prices and directions call: 303-660-477011200 Colorado 83, Franktown.

Best wishes from my family to yours for a fun and safe holiday season.  Enjoy your Christmas, Hanukkah and New Year’s.  Remember that for your 2010 Denver Real Estate needs, I’m just a click away.

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This year, I’m thinking about store-bought pumpkin pie.  I have gourmet friends, and friends who can’t cook to save their lives.  I even have a friend who owns her own catering company - she’s a handy friend to have! Some will prepare pies, others will pick them up from Safeway.

One person will turn her nose up at “store-bought” another doesn’t really care.

I’m just thankful that there’s such a thing as pumpkin pie at all.  Who could possibly stomach pumpkin without all the sugar, cream and crust anyway?

Here’s what else I’m thankful for this year:

• My husband’s love and support. He says, “you look nice today” every single day when I’m leaving the house!
• A loving and supportive extended family.
• Terrific, fun and funny girlfriends.
• A fabulous company, The Kentwood Company, with wonderful colleagues and ownership dedicated to making our company the best.
• Denver Real Estate - my career and life.
• My eyes - I don’t know what I would do if I couldn’t read.
• My son isn’t behind the wheel yet - but I only have two more weeks to be thankful for that…
• The bounty we enjoy and sometimes forget to recognize.

Enjoy your pie, pumpkin or not, your turkey, your potatoes and all the fixins’ on this 2009 Thanksgiving Day!  It’s 65 degrees and sunny here in Denver - aren’t we lucky?

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