Monday, March 15, 2010

$8000 New Home Buyer Credit About to Expire

Attention all the first time home buyers out there...The government is giving you an $8000 tax credit as long as you have a home under contract by the 30th of April 2010. Lots of inventory to choose from, as FHA loans can be made up to $417K. Take a look at http://www.exploremountainhomes.com to see what meets your needs and contact one of our professional Realtors to help you find your home.
If you have been in your home five years or more the goverment in giving you a tax credit of $6500. Maybe you need that extra bedroom or bathroom or just extra room. Take a look at the homes on http://www.exploremountainhomes.com.

Wednesday, January 27, 2010

Case-Schiller Ranks Denver Number 3

The Denver-area housing market ranked No. 3 of the 20 cities tracked in the closely watched S&P/Case-Shiller Home Price Indices report released today.

The Denver metropolitan statistical area was one of four cities that in November showed a year-over-year improvement, “something we really haven’t seen in at least two years in most markets,” said David M. Blitzer, chairman of the Index Committee at Standard & Poor’s.

The Denver housing market showed a 0.5 percent gain in the year ending in November, bested only by Dallas and San Francisco, which showed a 1.4 percent and a 1.0 percent gain, respectively. San Diego also was in positive territory, with a 0.4% improvement.

Overall, the 20 markets in the index showed a loss of 5.3 percent.

In October, Denver was ranked No. 1 by Case-Shiller, with a 0.1 percent loss. (Please visit this link for a blog on October’s results.)

Larry Hotz, a broker with the Kentwood Co., said that the Case-Shiller report reflects homes that went under contract in September and October, and closed in November.

“Back then, we did not know if the Congress and the Obama Administration were going to come out and extend the first-time home buyer tax credit,” Hotz said. “A lot of first-time home buyers were scrambling to get under what could have been the wire.”

Although the $8,000 tax-credit was extended, and a $6,500 tax credit for some current homeowners added, the increased demand put upward pressure on mostly lower-priced homes being sought by people who had been renting or living with their parents.

“It wasn’t uncommon for many homes under $250,000 being bid up,” Hotz said. “I know, because my daughter, who works with me, was taking advantage of the first-time home buyer credit and she had to pay full-price for her home. The lower-end of the market has strengthened, and that obviously is being reflected in the Case-Shiller report.”

But after the tax credit was extended in early November, a sense of urgency among buyers evaporated, and December sales fell sharply more than they do for seasonal reasons, he said.

“We’re still recovering from the holiday blues,” Hotz said.

As the new deadline of April 30 for the tax credits approaches, he said he thinks there will be another surge of people putting homes under contract.

“I think it will be a little less competitive to start looking to buy a home now, than the rush we’re likely going to see as we approach April,” he said.

Charles Roberts, a co-owner of Your Castle Real Estate and a real estate investor, said although it is always nice to have a high-ranking, in another way, he couldn’t care less.

“So we’re not No. 1 and we’re No. 3? So what? What I deal with, and what I care about, is what is going on in my backyard,” he said. “I don’t care that San Francisco appreciated more than us. They’ve been down 50 percent over the past three years, so they should be coming back.”

He said what he cares about is starting to see appreciation in his home and real estate investments, “and I believe that is how the normal person looks at it.”

Roberts, who also is a registered appraiser and a mortgage broker, noted that averages are also misleading, as no individual home is up exactly 0.5 percent.

“We don’t own options on the entire Denver market; we own individual homes,” he said.

And what has happened to individual homes are all across the map, he notes.

“We’re certainly past the downturn for properties under $300,000,” Roberts said. “There is no guarantee that will continue, of course. Maybe interest rates will rise, or the government will stop buying mortgage-backed bonds, or we will experience another wave of foreclosures.”

Still, last year, the Barnum neighborhood in Denver was up 29 percent, Arvada is up 1 percent or 2 percent, and the north Aurora area is up 12 to 15 percent, he said.

“But if you are sitting in a high-end home in Parker, you’re down and probably facing a couple of more years of devastation,” Roberts said. “If you have a $700,000 home in Parker, you would kill for a 0.5 percent improvement, just like I would have five years ago with my little (investment) houses in southwest Denver, when they were falling in value by 25 percent a year.”

Michael Clarkson, principal of Home Hunter Realty in Littleton, has some fundamental problems with Case-Shiller, but said its latest report seems on target.

“I’m happy to say that overall I agree with Shiller,” which ranks Denver as one of the top-performing markets in the country, he said.

“What we’re seeing in Denver right now is that a lot of people are buying down,” said Clarkson, who closely follows a variety of economic indicators that impact real estate, including obvious ones such as interest rates, as well as more arcane ones, such as the money supply.

“One thing I am seeing is that a lot of people are buying toward the median price point of the $200,000 range, which is causing a big feeding frenzy in getting homes in that price range,” Clarkson said. He said that is good for the market because it is taking a lot of houses in the under $300,000 range off the market.

But he said there is not “sufficient lending capacity” for the move-up market. “There is a paucity of financing for the self-employed.” He said that needs to be addressed, as it currently is curtailing a huge segment of the market.

Meanwhile, the latest Case-Shiller numbers, overall, show a mixed-bag.

“While we continue to see broad improvement in home prices as measured by the annual rate, the latest data show a far more mixed picture when you look at other details,” Blitzer said. “Only five of the markets saw price increases in November versus October. What is more interesting is that four of the markets – Charlotte, Las Vegas, Seattle and Tampa – posted new low index levels as measured by the past four years. In other words, any gains they might have seen in recent months have been erased and November is now considered their current trough value. On the flip side, there are still some markets that continue to improve month-over-month. Los Angeles, Phoenix, San Diego and San Francisco have seen prices increase for at least six consecutive months. Looking at the annual figures, four markets – Dallas, Denver, San Diego and San Francisco – have finally entered positive territory."

“To add more mixed signals, we are in a seasonally weak period for home prices, so the seasonally-adjusted data are generally more positive, with 14 of the markets and both composites showing improved prices in November. On balance, while these data do show that home prices are far more stable than they were a year ago, there is no clear sign of a sustained, broad-based recovery.”

Metropolitan Area October-November Change One-year change
Atlanta -0.8% -6.2%
Boston -0.5% -0.7%
Charlotte -0.3% -5.5%
Chicago -1.1% -8.5%
Cleveland -0.2% -2.5%
Dallas 0.0% 1.4%
DENVER -0.5% 0.5%
Detroit -0.7% -13.0%
Las Vegas -0.5% -24.5%
Los Angeles 0.8% -3.5%
Miami 0.0% -12.1%
Minneapolis -0.5% -6.8%
New York -1.0% -7.1%
Phoenix 1.1% -14.2%
Portland 0.3% -7.5%
San Diego 0.4% 0.4%
San Francisco 0.6% 1.0%
Seattle -0.5% -10.6%
Tampa -0.4% -13.2%
Washington, D.C. -0.5% -0.6%
Composite-10 -0.2% -4.5%
Composite-20 -0.2% -5.3%

Sources: Standard & Poor’s, Fiserv

Thursday, December 31, 2009

Rebchook Reports: Denver's Housing Market Tops Case-Shiller

Denver performed the best of the 20 major metropolitan housing market tracked in the closely watched S&P/Case-Shiller Home Price Indices report released today.

Denver's housing market showed only a only a 0.1 percent dip in housing prices in the year ending in October, compared with an overall drop of 7.3 percent for the 20 areas in the report. The 10-city index in the report fell overall by -6.4 percent.

"Once again, this shows the strength of the Denver market," said Gary Bauer, an independent Denver real estate broker. "We continue to lead the nation as far as recovering from the recession – the recession is not over yet – but we will be one of the first to emerge."

Bauer said that "two-thirds" of the Denver-area housing market "still moving," if not showing spectacular performance. Only the high-end market continues to be soft.

"The market has moved from the only activity being in the first-time buyer to what I call the "move" buyer," Bauer said.

Tuesday, October 27, 2009

Denver in Top 10 for Cities to Earn a living

Top 10 Cities to Earn a Living

The best cities to earn a living are those that have plenty of companies doing business in high-paying, growth industries.
Combine that with a high-quality business environment, job growth, and a low cost of living and you get a select-few locations where the pay check is generous and the cost of necessities like food and housing is modest.
Here are the top 10 cities where Forbes magazine says this is the economic reality now and the conditions are likely to get even better as health care, technology, and energy draw more employees into their ranks:

1. Dallas
2. Houston
3. Minneapolis
4. Austin, Texas
5. Washington, D.C.
6. St. Louis
7. Seattle8. Atlanta
9. Kansas City, Mo.
10. Denver
Source: Forbes, Francesca Levy (09/03/2009)

Thursday, October 1, 2009

About Conifer

Nestled in the foothills of the Colorado Rockies, 15 miles southwest of Denver, we share a way of life in Conifer that is special.Groves of aspen trees, trademarks of the high country, with their brilliant displays of gold and blazing orange, inspire us each autumn. We are a diverse community, a melting pot of ideas and energies. It is this diversity which enables Conifer to be the vibrant, growing, dignified community it is today.

About Evergreen

Evergreen, Colorado and the associated communities that make up Evergreen, including El Rancho and Bergen Park to the north, Marshdale to the south and Kittredge to the East, are cradled in the Rocky Mountains at about 7,000 feet elevation and just 30 miles west of Denver along the historic Lariat Loop. Evergreen is a place where city and mountain living come together – to a place where elk and buffalo roam. The best things in life thrive in this quaint mountain locale – friendly people, beautiful mountain vistas, thick pine forests, wildlife, an abundance of recreational, social and business opportunities, and housing. While the area offers a unique mountain lifestyle, the amenities and services of nearby metropolitan Denver are close by.
Evergreen encompasses about 130 square miles of pine and aspen-laden hills. It sprawls from the flanks of 14,260-foot Mount Evans on the west, to the edge of the high plains on the east; from its sister communities of Conifer and Aspen Park on the south, to Genesee and Lookout Mountain on the north. About 30,000 people call Evergreen home. Residents are artists, engineers, scientists, carpenters, retailers, homemakers and heads of corporations. Many work in nearby Denver and escape home to the high country at the end of what may have been an urban hectic day; many residents both live and work in the mountain community. In Evergreen, purchasing a quality home, supporting quality schools and paying taxes for quality government often costs less than in metropolitan areas on either coast. Other residents have chosen Evergreen because of its proximity to Denver. They enjoy all the big city has to offer – international museum exhibits, national sports competitions, world-class restaurants – but prefer to live in this tranquil mountain community. If Evergreen’s lifestyle appeals to you, come and visit us. Be assured, Evergreen will welcome you.

Arts & Entertainment

Talent blooms like wildflowers in Evergreen. Several longstanding organizations provide outlets for the talents of local artists, thespians, singers, and musicians.
For four decades, the Evergreen Players have performed musicals, comedies, and dramas. The amateur troupe, consisting primarily of local residents, stages eight plays each year.
The Evergreen Chorale, made up of 75 members, has performed locally for more than two decades. The chorale stages conventional and holiday concerts as well as two musical productions each year.
The 45 member Evergreen Chamber Orchestra performs to standing-room-only crowds at four concerts each year. The orchestra also breaks into ensembles to stage intimate musical events hosted in local homes.
The Evergreen Artists Association is the largest and best known arts group in the area. The association consists of painters, sculptors, photographers, and craftspeople from throughout the area. The association also sponsors the ever popular annual Fine Arts and Fine Crafts Fair, in addition to small exhibitions, and arts and crafts classes.
Evergreen also is home to the famed Little Bear nightclub, which regularly features national musical acts as well as talented local musicians.
Mountain Community Handbell Coalition is an organization of hand bell choirs from the areas of Genesee, Lookout Mountain, Bergen Park, Evergreen, Marshdale, Aspen Park, and Conifer. The group sponsors "bRing in the Holidays," an annual hand bell workshop and concert for the community. Hand bell choirs from mountain area schools and churches participate in this traditional musical event held in December. For more information, contact Marva Baldwin at 303-674-2460.

Lodging with Bed & Breakfast, Cabins, Hotel

The Evergreen area community is abundant with charming Bed & Breakfasts, cabins, and hotel/motels. Our lodging facilities are nestled within the pine forests and many are enjoy the rippling waters of the streams that flow from Mt. Evans and the continental divide.
Click here for lodging information

Parks

Denver Mountain Parks
Denver Mountain Parks were purchased in the early 1900's by the city and county of Denver. Several of them are located in the Evergreen area and are primarily used for picnicking for large or small groups.
Bergen Park, located just south of I-70 on Evergreen Parkway
Bison & Elk herd on both sides of I-70 at the Genesee exit (#252)
Corwina Park, located about 3 miles south of Evergreen on Hwy 74
Dedisse Park, north of Evergreen Lake on Evergreen Parkway
Dillon Park, in south Evergreen on Brook Forest Road
Fillius Park in north Evergreen at Evergreen Parkway and Bergen Parkway
O'Fallon Park, 2 miles south of Evergreen on Hwy 74 along Bear Creek
Pence Park, in Indian Hills on Parmalee Gulch
Red Rocks Park and natural amphitheater, 9 miles south of Evergreen, near Morrison.
Visit the Denver Mountain Parks website for more information.
Jefferson County Open Space Parks
Jefferson County Open Space Parks are areas of land set aside in Jefferson County for outdoor, day time recreation, including picnicking, hiking, biking, horseback riding, cross-country skiing and snow shoeing. The following are several of the parks in the Evergreen area:
Alderfer/Three Sisters near downtown Evergreen, on Buffalo Park Road
Elk Meadow located 5 miles south of I-70 on Evergreen Parkway
Meyer Ranch on Hwy 285 in Aspen Park/Conifer
Lair o' the Bear, along Bear Creek, about 4 miles south of Evergreen on Hwy 74
Mt. Falcon Park in Indian Hills, off Myers Gulch/Parmalee Gulch
Recreation
The focal point of the community is a sparkling blue mountain lake that offers year-round fishing, boating in the summer and ice skating in the winter. In addition to the lake, the Evergreen Park and Recreation District maintains a year-round swimming pool, gymnasium, racquetball and handball courts, and other recreational facilities both indoor and outdoor. Also available in the Evergreen area are numerous hiking and mountain biking trails and two golf courses. Several of Colorado's best ski areas are also available within a one hour drive.

Senior Services

Support services for the senior citizens in the mountain area are provided by the Seniors' Resource Center, 5120 Hwy 73, 303-674-2844. The center offers social and educational programs as well as legal aid, health screening, tax and energy assistance, transportation, counseling, and home visiting and referral. SRC/Mountain Services Web Site: www.srcaging.org/mountainservices.html