Lovely golf course home in Cherry Creek Country Club exudes elegance. Custom built in 2006 by Landmark Custom Builders with attention to detail.

Wood and tile floors, stunning mill-work and slab granite kitchen counters. The house backs to the 2nd fairway with views off the deck to the southwest and the mountains.

Visit the home’s custom website for specifics and interior photos.

Share This

We’ve tried it twice and both times it was wonderful. My husband like Aisan food better than I do, but I’ve been pleased and lucky with all of the dishes I’ve ordered at L’Asie. The restaurant is in the old Emma’s space and has been open for a little over a year. Menu items are a fusion of Vietnamese, Chinese and Thai. The eclectic blending of dishes and spices makes for an explosion on your palate.

They also have a fun and crazy drink menu of “fou fou” drinks that are sold two for one. You may want to consider splitting your drink order, they are large, sweet and for me had plenty of alcohol.  Wine is two for one as well.

Order the appetizer sampler plate for a terrific variety of snacks, but remember to leave room for your main dish. The first time we went to L’Asie, I was so full I could hardly eat my fish, and it was delicious!

L’Asie is at 603 E. 6th Avenue heading out from downtown towards Cherry Creek. You can usually find parking on 6th or on one of the side streets. They say you don’t need reservations, but both times we went there we’d made them at the last minute, and were happy we did.

Share This

Maybe Not so Strange

The government worries about markets all over the world, not just in the U.S. They often time announcements around the opening bell at the Hong Kong market. After Hong Kong opens, markets begin opening in succession. Clearly, the government wanted to send a signal - don’t sell off U.S. securities, we’re handling it.

Eye on the Media

Today was a day we all kept our eyes on the market. What would happen to stocks? Bonds? Banks? Indy Mac was taken over by the FDIC, Fannie and Freddie needed government intervention and predictions of more bank failures followed.

As I said in my recent post The Good News and the Bad, I’m not so sure I always trust what the media has to say regarding the housing market. They do seem to have a bad news ax to grind. Today was an important day to pay attention though. Ax or not, when George Soros speaks, people listen. Soros was interviewed by CNBC and clearly believes that our economy is faltering. While times are definitely uncertain, remember that the more bad news we hear and read, the more likely it will become a self-fulfilling prophecy. Isn’t that what a bank run is? If you see 3 people lining up to withdraw their funds, don’t you line up too? Then there are four in line, then there are five. No one (understandably) wants to be the last one in line - and thinks, “I might as well be safe as sorry.”

The public good is served by the Fannie Freddie handout today. These quasi-public institutions bolster nearly all of the mortgage and housing markets. Left to falter, there would certainly be a crisis of unpredictable proportions. I read one article today stating that some home buyers are rushing to lock their loans thinking that mortgage rates will be going up soon. Put into perspective - I bought my first home for 9.5% and thought that was great - rates will probably tick up rather than race up. And hopefully won’t hit the highs of the 70’s and 80’s anytime soon. That will depend on the Fed’s reaction to inflation along with this banking crisis.

At the risk of sounding Pollyanna and head-in-the-sand, I’ll repeat what I’ve written here several times. Real estate is local and Denver’s market is out pacing most of the U.S. Our days on market are shrinking for certain segments of the market, and there have been several instances where I’ve heard of multiple offers.

People need a place to live, to call home. Worry too much and you may make uninformed decisions. Let the headlines inform you, not paralyze you.

Share This

We’re asked this on a daily basis, and with the frenetic pace of the news reports, it’s sometimes a moving target. What I can tell you is that in my office, we’re processing more under contract files in the $300,000 to $800,000 range these days. Last year, it seemed like the high end properties were sustaining us. This year, the mid-range properties are selling best. Perhaps the jumbo loan rates has slowed down the high end market a bit, perhaps some people are electing to stay in their homes and remodel them.

That’s not to say high end isn’t selling at all, just that the more mid-range homes are the properties that are getting multiple offers and are moving more quickly.

In-town residences are still selling more strongly than suburban homes - In the medium and entry prices.

If you’re interested in finding out the walkability of any address just go to the Walk Score web site and enter an address. Central Denver residences are more walkable, and the price of oil will undoubtedly continue to influence the home buying decision.

The Metrolist market stats are out for June and you can see that we’ve shaken out a lot of the inventory we were carrying last year with actively marketed properties dropping 13.72%. With prices adjusting downward, numbers of pending sales are improving.

The number of closed properties increased from May, but decreased from this time last year.  I’m betting the decrease year-over-year is due to a lesser amount of inventory.  With the rising number of pending sales, we’ll likely see that number go back up next month.

Share This

CNBC announced this morning that Colorado ranks #5 for top states doing business. This is the first time ever that Colorado has been in the top five. We love our state, our lifestyle and those of us who sell real estate here can tell you that we feel the optimism and enthusiasm in the market.

Colorado’s ranking qualifications were:

• Business friendly
• Energy economy
• Wind and solar
• Unemployment 4.9% compared to the national average of 5.5%
• Corporate tax rate 4.63%
• Largest industry - corporate and professional services (even without Arthur Andersen)
• Largest employers - Allstate Insurance and Lockheed Martin (Space Systems Divisions)

Share This

I think the Denver real estate market is full of good news and bad news too. About a week ago, I was asked to appear on ABC’s World News Tonight in a story about the real estate market. They told me it was a story stemming from the Case Shiller Report issued earlier that day. Denver was up nearly 1%, so they wanted a broker from Denver in their story.

Silly me, I thought it was going to be about the “turning” real estate market. That’s even what the assistant producer said to me on the phone. I gladly participated, and submitted to a lengthy interview. Fun and nerve wracking! Yes, it’s true, the camera does put on an extra 10 lbs. Or maybe those extras were already on…

They talked to me in front of one of my listings that had just received two offers, and then they followed me around another home nearby with a buyer in tow. 15 - 20 minutes of camera time was boiled down to 15 seconds in the story. My son and I sat down to watch - it was the lead story. In the intro they said, “Worst Real Estate Market Ever!”

My heart sank, “what have I done?” I asked. I’ve participated in prolonging the media obsession with how terrible the market is. The silver lining to the entire story is that I was the “silver lining”. Denver’s real estate market isn’t as unhealthy as other areas and buyers are making offers. The well priced, well located and beautifully staged homes are even getting multiple offers.

The media is going to pick up on the bad news and gloss over the good. Ask your Realtor what the true lowdown is, and get to know your own particular market. There’s good news and bad, but the truth lies somewhere in the middle.

Share This

Share This

In case you haven’t had the opportunity to view my bio yet, I thought I’d give you a little background and tell you about my favorite things to do in Denver for the Fourth of July.

I sell Denver real estate, a profession I’ve loved for over 12 years. Denver is a fabulous city, with so many great neighborhoods. If you’re around Denver this coming weekend - here are a few of my favorite things to do over Independence Day:

1. Cherry Creek Arts Festival: Our central Denver neighborhood of Cherry Creek hosts the annual Arts Festival every Fourth of July. It’s a three day event with hundreds of booths and exhibits. This is no craft fair, it’s a juried show of some top artists throughout the U.S. You can also enjoy the Culinary Arts demonstrations, the kids’ creation area and several outdoor concerts.

2. Colorado Rockies: Every year the Rockies host a fireworks exhibit after the July 4th game, and this year is no exception. My son loves going to this game with his dad. We’re playing the Marlins, and the games with fireworks are on the 3rd and 4th at 6:05 pm. We need a couple of wins!

3. Four Mile Historic Park: Pioneer exhibits and Denver’s oldest standing structure. This place is a blast for the little kids, and interesting for adults with an appetite for history. Don’t miss the horse-drawn carriage rides!

4. Red Rocks: Looking for more adult entertainment? Blues Traveler/Live/Collective Soul are playing at Red Rocks. What a night! I just checked, and tickets are still available.

5. Santa Fe Arts First Friday: It’s First Friday again at the Santa Fe Arts District! Go there first on Friday evening to sample the terrific local artists, and then check out the CC Arts Fest over the weekend. An art-lover’s heaven of a weekend.

6. Pro Lacrosse: Lacrosse fan? Head over to Invesco Field (Mile Hi to locals) and watch the Outlaws play the San Francisco Dragons.  Fireworks follow.

7. Symphony On the Rocks: The Colorado Symphony Orchestra will be playing at Red Rocks on Sunday evening at 7:30. Doesn’t this sound like a perfectly wonderful evening after all of the special events you’ve gone to for the past 3 days?

8. Colorado Renaissance Festival: Who needs to cook when you can get a big-a– turkey leg and carry it around with you? The Renaissance Festival is perennially a family favorite. It’s running weekends through early August.

9. Colorado History Museum: This is the last weekend for their exhibit called “The Italians” illustrating the impact that Italian Immigrants have had on our state.

10. Fireworks! Did you think I’d forget? The Glendale city fireworks display is Saturday, July 5th at dusk. Lannie Garrett is playing a concert there too. You can catch fireworks after the Rockies and the Outlaws games. Macy’s will be hosting a fireworks show on July 5th at the Cherry Creek shopping center - best viewing is from the Fillmore Plaza in Cherry Creek North.

Have a fun and safe weekend. If you’re thinking of buying, selling or relocating ~ think of me and click on the “contact me” button. I’ll send you customized information on real estate. Me~Gretchen Faber an agent who loves her job!

Share This

We still visit the restaurant often even though it’s been renamed Seven 30 South.

A year and a half after we met, we went back to Pour La France and Mr. Right popped the question.

The waitress cried when she lifted up the plate and saw it there. He’d been busily drawing the entire time and I hadn’t paid any attention. It was sweet and romantic because he used the table crayons to make a chart with “Will You Marry Me? Check here: ________Yes _________No _________Maybe.”

I checked yes!

A few weeks ago, we strolled up to Seven 30 South to celebrate our wedding anniversary, and to reminisce about the years. The boys are now teenagers!

Seven 30 South is a terrific little neighborhood bistro with consistent food and service. You can order anything from a Southwest style salad to Chicken Pot Pie to a nice piece of grilled fish or Tuscan Beef Stew. In the summer they have an outdoor seating area that faces onto University Boulevard and the Bonnie Brae neighborhood center.

You may not want to go on a blind date, but you should still take someone special to Seven 30 South!

Feel free to subscribe to this web site by clicking the “subscribe by email” button to the right.  You can also receive it in your RSS reader by clicking the blue square. 

Share This

Opdyke tells of the difficulties of selling his home, of finding the proper school situation for his children, and of locating a suitable apartment in Hong Kong. It sounds like is was a heart wrenching decision for his family, but they decided to pass up the opportunity after a fraught trip to settle the details.

There are probably many reasons why the decision was the right one for this family - international relocations can be difficult.

The rewards for some are huge, but it still causes upheaval. Much of my client base are relocating families, and several have been posted in China and Hong Kong. They describe such an acute lack of closet space that the extra shower becomes suitcase storage. They also describe the joy of finding peanut butter in the small local grocery mart.

A Realtor friend of mine, Bill Dolan, was so moved by Opdyke’s column that he wrote the author a letter in response. Bill noticed some very telling things about the comments Opdyke made regarding the sale of his home in Louisana. He’s given me permisson to reprint his comments, but I’ve edited them down a bit. You’ll get the gist.

Having worked with many corporate transferees over the years, I couldn’t help but take special notice of some select sentences from your article:

1. “Nor can we afford to reduce our house price by the amount we’d need to move it quickly.”
2. “We can’t afford to throw away tens of thousands of dollars in equity to facilitate a rapid sale.”
3. “That leaves us no choice but to wait out the market.”

Real estate values have declined in every single area of the United States.  In my opinion, before you even entertained the idea of moving to Hong Kong, you should have contacted three brokers and/or an appraiser to ascertain market value of your home and used that as a platform: if I jump, can I make it to the other side of the gorge? I am amazed at how few sellers are willing to accept or even try to understand the concept of “fair market value.”

1. Your house would move quickly if you priced it at “fair market value.”
2. You are not throwing away tens of thousands of dollars in equity to facilitate a rapid sale. You can’t throw away something that isn’t there to begin with. What you paid for your house, and what you owe against it are not relevant. The definition of fair market value is what a ready, willing and able buyer pays for a commodity. (As an aside, what do think the current fair market value of a large SUV is these days? Same as last year, or the year before?)
3. You don’t need to wait out the market. If you are not willing to accept today’s “fair market value,” then take the home off the market until the market tells you that you have the equity you want or need to make a move.

I love this article from the New York Times. It is now part of my listing presentation. Over the years I have come to the conclusion that if a property is on the market for more than 30 days or has had 15 showings without an offer, then the price is too high (There are certain exceptions when it comes to very high-priced multi-million dollar properties.)

Good luck with your future relocations.

I’d like to call Bill’s comments an open letter to sellers. This is such a tough conversation to have with sellers. We Realtors aren’t without sympathy for your plight. We certainly wish you could “get what you need”.

I’m a little more patient than Bill seems to be. I generally say 20-25 showings and at least 30 days on the market is the test period. If you don’t have an offer after 25 bona fide buyers have walked through the door, then the price is too high. Your broker is doing his/her job if you’ve had that many lookers. The broker’s job is to expose the property and get traffic.

I’ve had sellers say to me, “Well, you’re just not convincing them to write an offer.” What should I do? Put a gun to their heads? Often the feedback is just disguised price objections. If the Buyer’s agent says that the house is on a busy street or needs too much work or looks outdated, then that’s a disguised price objection. A seller’s choice it to pick up and move the house or drop the price; update the house or drop the price.  Sellers don’t like to hear this, and delivering the news isn’t the fun part of our jobs.  It’s probably even worse than putting out open house signs…

So, thanks for sharing Bill. Good luck!

If you like what you read here at LifeStyleDenver, subscribe by clicking on the button top right. 

Share This