Have you ever driven through Aurora North looking for a rental property and taken a close look at the roofs?   Here's what you'll see: a bunch of 1950's ranches in varying states of repair or disrepair, lawns that are often grassless, old handcrank windows and roofs in almost perfect condition!  This surprised me at first and perplexed me for a long time.  Why, in a neighborhood devastated by foreclosures with properties with massive deferred maintenance are the roofs in such condition?  Really!  Stand in the middle of a typical street and looking at 10 roofs simultaneously, you'll be amazed. Well, it turns out the answer is pretty simple. There was a huge hailstorm in the mid-90's and most of the roofs were replaced by insurance companies then. The result is that while you certainly ... 11/02/2008

A lot of clients ask me how to figure out what market rents are in a neighborhood. This is a critical input into the calculations an investor needs to make in order to determine what their return on investment will be on a rental property. So you don't want to screw this up! Unfortunately, this is one of the many figures new investors get wrong. One place people go to get rents is Rent-o-Meter. Rent-o-Meter is billed as an online resource to get accurate market rents. In my experience it is anything but! However, I have a fairly simple solution. Multiply what you see on Rent-o-Meter by 80% and you'll probably be close. I can't explain why but I find rents on Rent-o-Meter to be about 25% high, so multiplying their rents by 80% will get you close (do the math, it works out). So then, how ... 11/02/2008

The talk around the water cooler these days is all about LOANS. Who can get them? At what price? What if I already have a few loans, do I still qualify?  A year or two ago the question was at what price do I get a loan (those were the days!).  Today it is "am I still in the game?"        Here's the deal:  if you have an owner occupied loan and 3 investor loans you cannot buy any more properties and get Fannie Mae / Freddie Mac financing, meaning you can't get a conventional 30-year fixed loan. Now, my hope is that someone reads this and tells me I'm wrong. That would be great!  But as far as I know that is the case.       Where does this leave you?  You can pursue loans that are warehoused by lenders, meaning they are not sold on the backend to Fannie or Freddie. You are probably lookin... 11/02/2008

The deadline to vote this November is this Monday, October 6th.  If you are planning on registering by mail, your registration must be postmarked by 5:00 pm on 10/6/08.  Perhaps you have recently relocated to Denver and this has been on your list to do - you need to do it now. Many are taking advantage of registering for the mail-in ballots this year, as many areas within the state will have an extremely long ballott.  Regardless of who or what you vote for: VOTE.  Get Registered. I have seen the voter registration volunteers out in full force in recent weeks - at stores, shopping centers and going door to door.  Chances are, someone helped you get registered if you are not.  But if youing out of time. kept putting it off, you are running out of time. Here are a few links to help you ou... 10/04/2008

I don't know if you've driven by SouthGlenn lately, but the construction continues to be moving along quite nicely and it's sure to be a fabulous revitalization to our neighborhood community.  It will be home to exclusive shops, tasty new restaurants, a 16 screen Cinema and a wonderful new park that stretches one city block, great for fun and relaxation.  Some of the new tenants will include: Bank of the WestBarnes & Noble - Denver's Flagship StoreBest BuyDicks Sporting GoodsMacysMacys Furniture GallerySearsStaplesWells FargoWhole Roods - Denver's Flagship Store16 Screen Cinema                                                                                                                                                                   The Portola at SouthGlenn will provide luxury apar... 09/26/2008

I have been driving some Denver area home buyers around lately that were curious about the construction going on at the old Southglenn Mall.  They were relocating from out of state and their current area as they put it had "ancient shopping centers".  The new development is called Streets of Southglenn and although much of the construction is still underway, some of the shops are now opened.  My buyers in particular were delighted there would be such a nice place to shop & dine nearby.   Staples and Best Buy and the Macy Home Furnishings Department opened first and Dick's Sporting Goods in now opened as well.  I know that my wife commenting that shopping at this brand new Staples for the kid's school supplies was very nice, she said that at first not many knew that it was opened so she ... 09/22/2008

The number of homes on the market, in the Denver, area plunged by 20 percent in August from a year earlier, the largest percentage drop in five years. According to data from Metrolist, there were 24,648 unsold homes on the market last month, compared with 30,827 in August 2007. This is very good news and reflects what we’ve been seeing also.  Home choices are not what they were 6 months ago.  However, there are still many options for those looking to buy right now. Year to Year pricing is way down for August.  Both the median and average prices of single-family homes sold last month showed double-digit percentage drops. The average price of a single-family home was $284,531, down nearly 14 percent from $329,783 in August 2007.  And the median price of a single-family home was $225,000,... 09/15/2008

We are proud to announce the addition of a Market Research page added to the Get Home Denver Team's site!  We have a number of graphs that will update dynamically showing many of the best market indicators. As always, we strive to provide the best and most up to date info for those looking to make a move in or around the Denver area.  Click here to see for yourself! To keep in the loop about Denver Real Estate Market Information, make sure and sign up for our feed. 09/15/2008

IKEA Is Coming To The South Denver Suburbs - Centennial CO To Be Exact By noon yesterday, I had heard mention of the new IKEA store 3 times.  And by 5pm - that number grew to at least 15. Word spread quickly that there would be an IKEA store opening in the Denver area and while shoppers that are familiar with IKEA are delighted, there are further implications of the news as well. Let's face it - the media tells us every day how rough the economy is over and over across the board nation wide.  But we have been hearing some other messages in the Denver area, such as this latest report that I posted about:  The Health of the Denver Real Estate Market.  The bottom line is, IKEA is not going to build a store where they see no promise for a lucrative future - so the fact that they are expandi... 09/11/2008

Saturday, October 11 & Sunday, October 12 from 10 AM to 4 PM   Enjoy food, radio give aways, human statues, balloon artists, face painters and stilt walkers all along the Cornerstar Way & E. Briarwood Circle just off Arapahoe Road. Reusable Shopping Bag Give-away Celebrate the Grand Opening of Cornerstar bu picking up your reusable bag tote available exclusively at the Cornerstar for one weekend only!  The environmentally friendly bags are made with natural canvas cotton.  Feel good about protecting the environment, while treating yourself o a little neighborhood shopping. New Stores Include: Target, 24 Hour Fitness, Dick's Sporting Goods, Best Buy, Sunflower Market, DSW Shoe Warehouse, Red Robin, Office Depot, and a variety of shops and restaurants. Convenient Charm Cornerstar will co... 09/10/2008

This video is very informative and explains the reasons for real estate market corrections. It also gives an historical perspective of where we’ve been, and the inevitable result of any downturn. A big shout-out and Thank You to Ted Mackel and the Homebuysblog from Simi Valley, for finding this gem! Explaining the market is much easier than Timing the market. Timing is a much harder thing to predict. We believe the Denver Real Estate market is at, or very near the bottom. Read some of our previous articles, or better yet subscribe to our feed. You will then always be on top of the important statistics that will help you make up your own mind. We always love to hear what you think! What are your predictions for the Denver Market? If you are thinking of a home purchase, or sale, when do y... 09/06/2008

Title: Do It Yourself Deck Building Date: September 20, 2008 Description: Do It Yourself Deck Building! Come join us for a morning of information on building your own deck. There will be a presentation, open discussion and a question and answer session with the Building Division Staff. Address: 12503 E. Euclid Drive, Suite 200Centennial, CO 80111     Location: Council Chambers Hours: 9:30 a.m. - 12:00 p.m. Contact: 303-754-3304 Email: ktrier@centennialcolorado.com Handicap Accessible: Yes Cost: Free 09/05/2008

This is a re-post from my Get Home Denver Team Blog, and was written by Rebecca Hansen, a guest Author who contributes frequently on the site. For Colorado as a whole, prices rose by 1.82% in the past year and by 0.32% in the second quarter please see the attached article from the Denver Business Journal for more detail. As a mortgage professional in the industry I have the opportunity to talk with all parties involved in the transaction- both buyers and sellers and Realtors. The vibe is positive out there. People are feeling good about the inventory going down and the increased number of “SOLD” signs in their neighborhoods. As rates remain in the low 6’s for a 30 year fixed mortgage it is a wonderful time to take advantage of Real Estate in Denver. Consult your Realtor and your Mortga... 09/02/2008

Tony's Market is a well known popular market in the south Denver area where you can shop for those gourmet cheeses,  fine meats, specialty prepared foods and deserts, imported foods, fresh seafood, produce, gift baskets, baked goods, gourmet coffee and candy and giftware.  Anyone new to the Denver area, quickly learns about Tony's.  Tony's was started in 1978 by Tony Rosacci.  His three children have helped all along the way to make this a great company with 3 locations now in the Denver area.  It started as a meat market and quickly became very popular for their completely natural meats.  Because of Tony's desire to please they began to offer more than meats and have continued to add other products through the years.  Tony's also has a wonderful catering departement.   They cater every... 08/26/2008

Greenfield is one of those neighborhoods that suits lazy sunny days and a tall glasses of cool lemonade.  The long winding greenbelts, surrounding trail system, swimming pool, park, and large comfortable homes all combine to create a a great neighborhood. Greenfield is located in Centennial, a few miles north of E-470, off of Smoky Hill Road.  The is plenty of recreation nearby, including Aurora Reservoir and several golf courses.  There is also some fun places to spend money, the most popular being the Southland Mall area. The homes in the community range in price from approximately 250-550K, and there are around 700 homes, so you are bound to find one on the market at any given time that you would like.  The school district is Cherry Creek, which is one of the reasons that people ini... 08/15/2008

I just received a great comment on my last article outlining the 2008 Housing and Economic Recovery Act. There is one big change that effects Seller’s and the amount of capital Gains Tax they may have to pay. Buried deep on page 690 of the 694 page law is an important change to the Capital Gains Exclusion rule.  This rule is modified from allowing Seller’s to exclude capital gains on their home sale of up to $250k, or $500k for those filing jointly, to a formula that reduces this exclusion.  This is Bad, Very, Very BAD! As this new law is further digested, I wonder what other “Little Surprises” we will find? Thanks Brad Nix, for the info!  To check out the formula, and other details check out this article. http://maxsell.net/housing-and-economic-recovery-act-of-2008/   To keep in the l... 08/05/2008

Sometimes I get asked, "You ONLY do reverse mortgages? Can't you do other types of mortgages, too?" Yes, technically I can do other types of mortgages, but I choose not to. Do all insurance agents sell life insurance, health insurance, commercial insurance, property and casualty insurance, disability insurance, long term care insurance, etc? Nobody I know does all those things. How about Realtors? Do all Realtors sell both residential and commercial properties? I don't know any who sell both on a regular basis. Why is that? Probably because they recognize the value of specialization.      I choose to specialize. I am an expert on the reverse side of the mortgage market. I am always studying and learning new things. If I don't know the answer I know where to get it or whom to ask, and I'... 07/22/2008

There are a number of home repair and safety items seniors either put off doing, or are not able to do because of physical or financial limitations. Not making these updates or changes to the home may result in a fall or injury.        * Change smoke detector batteries      * Add carbon monoxide detectors or change their batteries      * Check the charge on fire extinguishers, or install fire extinguishers in convenient locations      * Add safety treads in bath tubs and shower      * Install night lights in bathrooms, hallways, kitchen,      * Change door knobs to levered handles      * Replace washing machine hoses with a brand with an automatic shut off      * Add grab bars in bathroom        These minor items may not seem like a big deal to younger, more able-bodied people, but to a... 07/22/2008

"Why would somebody get into a reverse mortgage? Are all your clients poor but their houses are paid off?" Those are a couple questions I get asked frequently. The answer to the first question is, "it depends." The answer to the second question is, "no."      My clients' reasons for using a reverse mortgage are varied--as varied as the borrowers. Most do have their homes paid off, but not all of them do. Many of them need to use the equity in their homes to live, but not all of them do. Some still have small mortgage balances and they want to get rid of those monthly payments to help with cash flow.      What does my average client like? I know some of you just answered that question with "wrinkled." Most are single ladies, most of them widowed, and the average age is 73. They're smart ... 07/22/2008

Are you tired of hearing about how horrible the mortgage market is, how bad mortgage lenders are, and how high the foreclosure rate is in Colorado? Maybe you're able to tune it out more than I, since it may not be the world you work in.   I know you didn't hear this story. It involves a Realtor (Tim Hoyman) wanting to help a long-time client stay in his home which was in foreclosure.   The homeowner had a heart attack and was in rehab for several months. During that time he missed a couple payments on his second mortgage, so it went into foreclosure. The homeowner was a 73-year-old gentleman who had a lot of equity in his home. With a reverse mortgage we were able to pay off his first and second mortgages, get his home out of foreclosure, and help the gentleman stay in his home. At the ... 07/22/2008