Live Denver

Denver real estate quickie. July 2007.

Is the media ever going to stop the gloomy news flashes of the burst housing bubbles, exurbanite number of foreclosed homes and the general horrible real estate climate?  Yes the cycle is making a turn that is not upward and Yes there are rising interest rates, however, it's better to read between the lines of what sells papers to find the real truth about what the Denver real estate market is doing.

Through 2006 and into first quarter of 2007 we've seen high levels of inventory throughout Denver at all price points.  The wave of summer buyers has been sweeping up some of the available homes bring our currently available inventory down 5.37% from this same time last year.  This is a positive sign as we step into the third quarter of 2007 with less homes available sellers can look forward to having less direct competition in their neighborhoods.  Building permits are down 46% from this time last year as builders brace themselves for the slowing market.

	Home Sales Price Change
Single Family Homes	-3.86%
Condos	-0.93%
Combined	-3.47%
	Average Home Price
Single Family Home	$316,024
Condo	$192,885
Combined	$289,294

Currently the average days a home for sale will stay on the market is 95 days and in July 2007 the Denver Metro area sold a total of 4,980 homes for the month.  The Denver real estate market is not turning circles on itself but it is holding steady--read: a mildly rolling wave on a graph as opposed to the media portrayal of sea sickening undertow that draws downward eternally off the chart.

When it's all said and done now is still a good time to purchase real estate in Denver-- interest rates are reasonable and there are solid investments and good homes currently on the market. Investment opportunities such as buying at pre-construction pricing on new construction or a fixer in a good neighborhood are great ways to take advantage of the stable market. 

The Denver real estate industry is having some difficulty wading through the disappearance of sub-prime financing and the tightened leashes of the lending industry. As always, reading between the lines of the media is the only way one can make logical sense of the media reports.  The fact is newspapers with positive news don't sell so relying on a trusted resource is the best way to get solid facts about the current Denver real estate climate. 

Spring Clean ~ Home Maintenance

Spring is upon us which means there is a long list of home maintenance items that need some attention.  Yes, I know cleaning off the BBQ grill is the one that is going to yield the tasty dividends but seasonal home maintenance is essential to making the most of your investment and more importantly your home. 

Check your gutters for blockage, if necessary you can scoop out the debris with a old kitchen spoon or purchase a gutter cleaning tool from a home improvement store. After run a hose up on the roof and into the gutters to make sure the down-spouts are clear. (tip: make sure downspouts are positioned to divert the water away from the foundation of the house, they tend to move a bit in the snow-pack and thaw.)

Examine the window screens for rips and tears, dead branches, kids and animals reap havoc on unsuspecting window and door screens. An easy fix is to purchase a screen repair kit it includes a few different sized pieces if self adhesive screen to cover up the holes. Another way is to buy some screen stock and cut pieces slightly bigger than the location of the tear and sew it into place with fishing line. And finally if need be the whole screen can be replaced, take the old screen out and using a small nail pull the black or grey cord out of the small channel on the inside of the screen frame, discard the old screen and cord (save a piece of the old cord to match up the right size of the new cord you will need). At the home improvement store purchase a roll of screen, new cord and a cord roller (plastic rollers are the best, make sure you buy enough screen and cord to fix all of your jobs), at home lay the empty frame out cord track side facing you and lay the new screen over it positioning the corner of the screen 1" over the track in the top corner and now lay the new cord on-top of the screen that is over the track and using the roller push it into the track, keeping the screen taut and moving around the track in one continuous piece, cut the cord when you reach the starting point from the opposite direction. After this is complete and you are satisfied with the tautness of the screen Trim the excess screen off with an exacto or utility knife, keeping right on the edge of the track and being very careful not to cut yourself or into the screen, begin to trim. Now reinstall the screen on the windows and keep pesky insects out.

Go around the outside of the house and look for anything that might be able to collect hold water in turn housing mosquito larve (ie. old buckets, rubbish piles, low drainage spots in the ground that can  hold water). Fill in low ground levels and store or discard anything that might be a good breeding ground. The heavy spring rain and warm weather are prime breeding conditions for mosquitos, who hatch their larve by the millions in standing water.

Change the cooling pads and clean/treat the reservoir in your swamp cooler also checking the water supply line for any leaks that might of incurred over the winter months. This also applies for central air in houses using forced air as a means to cool, check the air filters, chances are the months of running the furnace with all the windows and doors shut tight have collected a nice build up on them. Also consider upgrading to a allergen micro filter, they don't cost too much more and help with allergen filtration if you suffer from seasonal allergies.

This one is directed towards your vehicle: SERVICE TIME. You spend a lot more time in you vehicle in harsh driving conditions in the winter than you think and all the months of cold starting your engine, sudden braking, and driving in magnesium chloride and sand takes a lot more out of your vehicle than you might realize. Get a thorough inspection done including brakes, transmission, radiator and engine. I know some people do this on a regular basis but some people don't and now that you're in the spring cleaning mood why not pay a little T.L.C. to your vehicle, maybe you don't need an inspection, well maybe clean the 5 months worth of magnesium chloride off the underside of your car, or take it to a detailer and get the "works". If you are of the few who regularly take your car for service and keep it clean the hats off to you.

Spring home maintenance tips were provided by Travis Hooker, a Denver home remodeler.  He invites you to email him with additional questions regarding these maintenance tips. 303.807.0069

DE-stressed home buying & selling.

It’s easy to get mentally fried by the process of buying or selling a home.  The transaction is charged with emotion, commitment and thousands of dollars.  Home sellers often second guess the pricing if the house sells too fast or exhaust their creative minds with home marketing inspirations.  Home buyers romp from house to house looking for their personal ‘gem’ and pull their hair out with the pressure of making a good investment decision and at the dollars being sucked out of their pockets.  Buying a home is not only a single biggest purchase one will make but a very personal one.  Added stress from buying can come from balancing and prioritizing your family’s wish list in a new home with the reality of your pocket book. 

No matter which side of a home transaction you are on it is an anxiety ridden, tense experience for both the buyer and the seller but it does not have to be that way.

To help you glide through the buying process with more ease and less headache you should split the workload.  Give your spouse the pile of currently available listings while you organize the financing.  Division of the work load will alleviate the stress of one party and make it a more evolved process for both.  However looking at homes is a step that should be done together so that you and your better half can agree on aspects that important to the both of you.

Do your homework on current market conditions so that you are well informed of the facts.  One visit to www.ofheo.gov will give you information on current market trends and the house price index in your market.  What are homes in your neighborhood selling for?  Do you have any idea of how many comparable homes are currently for sale in your area?  What’s the average price per square foot in neighborhood X compared to district Y?  --Mostly how are these questions relevant to your buying or selling a home? 

Picking a good Realtor will be the single most important factor to having a smooth, unruffled real estate transaction.  A Realtor will advise you before hand of what to expect during the buying/selling process:  You will be ready for inspection problems if they come up, you will be explained the costs that will be incurred at closing, be informed of the differences of buying a new home vs. a ‘pre-owned’ home, etc. 

When you are relocating to any area a Realtor will inform and educate you on your different area options based on your family’s lifestyle.  Eliminating much of the preliminary research and feeling that you may have not covered all the areas around town. 

When selling or buying the Realtor negotiates offers, pays attention to important dates and coordinates appraisers, inspections, title companies and lenders. A good Realtor does a great deal of this with ease and rarely is the purchaser or seller involved with the follow-up and minuscule details.  A buyer can focus on the handful of other moving issues requiring his attention.

Buying or Selling a home is involved but it doesn’t have to be so stressful that you decide never to move again.  Simply prepare and use the resources that are available for your benefit.  It's an involved process that requires a professional agent that knows the ropes so you can focus on the moving process and getting to a place that defines your new lifestyle.