Lone Tree, CO Real Estate News

By Laurie James
(Your Castle Real Estate)
  A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe and videotape the sewer all the way to the mainline. This will tell you  and the-buyer what the condition of the sewer is.      So let's see, we pay to have the furnace inspected but a new furnace will only be about $2,000. We pay to have the roof inspected but that's probably a $4,000 job. So why don't we always inspect the sewer?  One reason is because, let's face it,  Realtors want closings. Many figure if they keep their mouth shut and don't go out of their way to recommend a sewer scope ...
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By Laurie James
(Your Castle Real Estate)
  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).    ...
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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 ne...
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As investors we face a number of very real and very scary challenges. Making sense of this market is no mean feat and one has to be very careful with his or her investment. However, we usually think about danger as financial. Unfortunately, on rare occasion it can be even worse than that. The majority of the homes investors are buying these days are vacant and once in a while people break in and live in these properties illegally.  The last thing you want to do is walk in on someone camped out in a house, perhaps conducting illegal an activity.      This is no joke, you want to be HEARD when you walk into a property that is supposed to vacant. So make a lot of noise when you're at the front door. I always knock loudly before entering.  Stomp your feet a little. Yell "Hello!" a couple of...
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  A lot of investors ask what an egress window is and when one is needed. Technically, it's a window for a room below grade that a municipality has deemed large enough to be safe for exit in case of emergency.   While there are some variations, the window needs to be large enough that a firefighter with an oxygen bottle on their back could get in, then carry out an injured person in a fire.  Most often, it's associated with a basement bedroom window, making it a legal bedroom. Basement bedrooms without egress windows are illegal.  Installing an egress window makes them legal.      The confusion is that different cities, counties and agencies have different size requirements and height-above-floor requirements for these windows. Therefore, before you start cutting into the concrete foun...
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By Laurie James
(Your Castle Real Estate)
  You walk into a property you're looking to buy and rent and you walk down into the basement and voila! you find a full second kitchen.   Great!  You start calculating how much rent you could get if you could rent the downstairs separate from the upstairs and the cash flow is out of this world!  But wait, there are a number of very real problems with this scenario.     First of all, it's illegal unless the property is zoned for more than one tenant and the property has been converted to non-residential use. But there are even more practical reasons why having two separate tenants is often not a great idea. The first is the utilities. Since it's a house there will only be one bill for Excel and water. Who's going to pay it?  Can you really get the tenants to pro-rate their share if you...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Lone Tree CO Real Estate Report - Q4 2007 to Q3 2008 This report is for homes in Lone Tree CO that sold in the price range from $700,000 to one million. In the third quarter of 2008 you can see slight decline on all categories listed. The homes in Lone Tree were spending more time on the market on average and the average price per square foot has declined.. Quarterly Numbers 4th quarter 2007 - 3rd quarter 2008   Q4 Q1 Q2 Q3 Days on Market (DOM) 152 248 185 205 DOM range - low to high 14-425 39-465 8-365 40-456 % Difference List vs. Sold 86.3% 88.6% 88.4% 87.6% % difference - low to high 69.3-96.6% 73.6-100% 76-98.6% 73.2-95.6% Average Price/square foot $221 $227 $220 $209 price/sf - low to high $181-$253 $198-$275 $178-$273 $178-$273   What kind of houses can you buy for 70% of the list...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Lone Tree CO Luxury Homes Report - Q4 2007 to Q3 2008 In the third quarter of 2008 you see improvements on all areas compared to the last three quarters. The luxury homes in Lone Tree were spending less time on the market on average, getting price closer to the listing price and a higher price per square foot. Quarterly numbers 4th quarter 2007 - 3rd quarter 2008 Q4 Q1 Q2 Q3 Days on Market (DOM) 36 132 200 48 % Difference List vs. Sold 94% 90.7% 83.9% 94.6% Average Price/square foot $298 $327 $299 $358 Here is a comparision of Q3 2008 to Oct 2008 Q3 Oct 2008 # of Homes SOLD 3 3 Average Days on Market (DOM) 49 192 Range DOM - low to high 1 to 127 0 to 381 Average Price per Square Foot $358/sf $322 Price range: price/square foot - low to high $283-$441 $297-$338 If you are considering sel...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Lone Tree CO Luxury Homes and Real Estate Market Report Oct 2008 In October 2008 three luxury homes sold in Lone Tree Colorado. The average days on the market was 192, however two of the homes sold very quickly. The average price per square foot of the homes sold in October was $322/sf. No homes are currently under contract. This report is for luxury homes one million dollars and above. Address Beds Baths Square Feet DOM Original List Price Net Sold Price % of List to Sold Price Price / sf 9654 Silent Hills* 5 6 4470 0 $1,509,737 $1,509,737 100% $338 8774 Crooked Stick* 4 5 3946 381 $1,685,000 $1,300,000 77.2% $329 9450 Star Hill* 5 5 4005 2 $1,175,000 $1,190,000 101.3% $297 Averages       192     91.4% $322 DOM = Days on Market The average price per square foot for the luxury homes sol...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Heritage Hills Lone Tree CO HomesMarket Report Oct 2008 In October 2008 three homes were sold in Heritage Hills in Lone Tree. Three homes are currently under contract. One of the homes sold is in the Enclave section of Heritage Hills. One of the homes is new construction sale. Amazing numbers though. Very few days on the market and full asking price sale or close to it! Address Beds Baths Square Feet DOM List Price Net Sold Price % of List to Sold Price Price/ sf 9558 Brook Hill Ln* 4 4 2060 9 $536,000 $536,000 100% $260 9925 S. Shadow Hill Cir* 5 5 3586 36 $1,025,000 $975,000 95.1% $272 9450 S. Star Hill Cir* 5 5 4005 2 1,200,000 1,185,000 98.8% $297 9654 Silent Hill Ln* 5 6 4470 0 1,509,737 1,509,737 100% $338 DOM = Days on Market Here are the numbers of homes sold in Heritage Hills w...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Market Report Heritage Estates Lone Tree CO - Oct 2008 In October one luxury home sold in Heritage Estates in Lone Tree. The sold home was a new construction/ builder owned. No homes are currently under contract. The lowest sold price of a home sold within the last year was $900,000 and the highest $2,700,000. The average price per square foot was $324/sf, ranging from $$217/sf to $499/sf. The average days on market (DOM) was 385. Address 8774 Crooked Stick Ct* Above ground Sq Ft/Bsmnt sf 3946 sf /  2086 sf Beds/Baths 4 beds / 5 baths Listing Price / Sold Price $1,425,000 / $1,300,000 Percentage of sold to list price 91.2% Current DOM/ Total DOM 134 / 381 Here are the number of homes sold per month in Heritage Estates in Lone Tree within the last year. Currently there are 14 homes for s...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Carriage Club Lone Tree CO Homes and Real Estate - Oct 2008 In October one home sold in Carriage Club in Lone Tree CO and one house is currently under contract.The house that sold in Sept was a bank owned home. The sold price was 94.5% of the listing price. Address Beds Baths Square Feet DOM List Price Net Sold Price Price/SF 7765 Lebrun Ct* 4 4 3720 27 $423,000 $400,000 $108 Here is the number of homes sold per month for the last 12 months in Carriage Club in Lone Tree CO. Currently there are a 11 homes for sale in Carriage Club in Lone Tree. One is a lender/bank owned property and one is listed as short sale. The prices range from $299,900 to $775,000. The price per squre foot ranges from $108 to $222 per square foot. There are approximately 430 Residential Homes in Carriage Club. Th...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Fun things to do around Denver - Brunswick Zone XL in Lone Tree CO Brunswick Zone XL in Lone Tree Colorado If you are looking for fun things to do around Denver and enjoy bowling, laser tag, pool or arcade games try Brunswick Zone in Lone Tree CO. Brunswick Zone XL is located in the Lone Tree Entertainment District. There is so much you can do at the Brunswick Zone. You can bowl, bowl and bowl some more. They have great electronic scoring and side guards for the lanes for kids. They also offer cosmic bowling, this is when the lights go out and you bowl in the dark with glow-in-the-dark "accessories" including the bowling balls. At Cosmic Bowling you will enjoy live music and can have an out-of-this-world bowling experience. I think this would work for me... Brunswick Zone is popular for...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Golf Courses in Lone Tree CO - Lone Tree Golf Club and Hotel Looking for a golf course in Lone Tree CO? The Lone Tree Golf Club and Hotel boast a public 18-hole golf course designed by Arnold Palmer. The hotel offers banquet facilities, meeting rooms and hotel suites. The Lone Tree Championship Golf Course is a challenging course to test the skills of players of all levels. Lone Tree Golf Club and Hotel is located approximately 15 minutes south of Downtown Denver and approx. a five-minute drive from the Denver Tech Center. The golf course is on the North side of Lincoln Ave, South of  C-470 and West of I-25. You can search for tee times online via South Suburban Parks and Recreation or you can call The Golf Club Pro Shot at 303.799.9940. You can reserve your tee time five days in advanc...
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By David Hubbard
(Premier Denver Homes)
Last election, regular voting was mess in Lone tree. Will it be better this time? Who Knows. I voted early in Lone Tree at the early voting site: Douglas County Park Meadows Center, 9350 Heritage Hills Circle, Lone Tree, CO It was a breeze. No lines, no crowds, no waiting. Another thing to consider is that it is a huge ballot, many amendments to vote against. Early voting will be available there this week Monday through Thursday, Oct. 27-30 from 7 a.m. to 3 p.m. They want a picture ID so be sure to bring one along with your yellow signature card. More details at DouglasVotes.com or call the Elections Office at 303.660.7444.
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Lone Tree CO Restaurant Reviews - Santoro's Brick Oven Pizzeria Pizza anyone? If you are hungry for some delicious pizza, try Santoro's Brick Oven Pizzeria in Lone Tree. Santoro's is located on the north side of Lincoln Blvd, east of Yosemite Blvd, and almost across the street from the Super Target (just a bit more east).  Not only are the pizzas at Santoro's delicious, they also serve great sandwiches and salads. You can go for a little taste of Philly and try one of the Cheesesteak sandwiches or if you prefer a more traditional Italian Submarine sandwich, you can't go wrong with that either. For a taste of pizza, choose either red or white sauce pizza and pick from variety of flavors or create your own masterpiece. I personally love their Antipasto salad, it's always fresh and yummy! ...
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By Brian Burke, Broker & Advising Expert-Denver Luxury Real Estate
(Kenna Real Estate)
Lone Tree CO - Useful Phone Numbers and Contact Information If you are moving to or currently live in Lone Tree Colorado, there are a few local Lone Tree phone numbers and contact information that you may need from time to time. See below for the quick reference list. City of Lone Tree Communities have their individual Homeowner Associations depending on which community you live in. Currently there are 23 Home Owner Associations in Lone Tree. Included are also providers of high speed internet, phone, cable and satellite for your Highlands Ranch home. For your printable copy of Lone Tree Useful Phone Numbers South Suburban Parks and Recreation Admin. Office 303.798.5131 6631 S. University Blvd. Centennial, CO 80121 Recreation Center  @ Lone Tree 303.708.3500 10249 Ridgegate Circle Lone T...
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By Chuck Kane
(Your Castle Real Estate)
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The average price in the first three quarters of 2008 was $272,000 vs. similar period of 2007 was $308,000: an 11% decrease. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Colorado Springs or Boulder.Much of the decline is a mix issue. For example, sales volume of homes over 4,000 square feet has plummeted in the last twelve months. Middle-market homes have generally been steady in their sales volume. Very inexpensive homes under 1,000 square feet have greatly increased their sales volume. You can explain it to your clients li...
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By Chuck Kane
(Your Castle Real Estate)
If you have not heard already, the inventory of home on the market in Denver has been declining. This is not true in many regions of the county. Your clients, who often only see national headlines, might not be aware of this favorable news. Our market has some unusual factors at work. Let's explore them, so you can better help your clients.If you look at the first chart (MOI 1), you'll see the MOI (months of inventory) for Denver's suburbs on the bottom axis and the average sales price in that suburb on the axis on the left side. Denver metro currently has about six months of inventory (a balanced market, on average), but you can see there is a lot of variety from one city to the next. Lower cost areas, such as Thornton, are seeing inventory move fast. Sellers (mainly banks) don't have ...
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Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
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