Highland is HOT. 

This from today’s ColoradoBiz Magazine….

Somewhere in America, there’s a price-reduced house for sale. Somewhere in this great land of ours there’s a mortgage crisis, a credit crisis, a looming recession. Somewhere there’s a real estate agent soberly assessing his or her frail, flailing, failing career.

Somewhere, maybe. But not in Denver’s Highland neighborhood.

How hot is Highland? Let’s put it this way: The Denver neighborhood that sits just west of Interstate 25 off of North Speer Boulevard now has its own cute nickname, LoHi.
We asked a bunch of real estate agents and developers how the boom there has been affected by the national real estate slowdown.  (Read the rest here.)

We love Highland, yes we do, we love Highland, how about you?!

Seriously. 

People always ask me why bank owned listings are on the market for so long.  I’m happy to tell them that it is not for lack of able, willing, and qualified buyers - it’s because the BANK takes FOREVER to process the offers!

My latest and greatest example:   I have been working with a young couple to find their first home.  They are flexible, well-qualified, and looking for a starter home within their means.  They have written SEVEN offers on SEVEN bank-owned properties and have patiently waited for a response from Mr. Bank on each one, only to get out-bid by multiple offers during the WEEKS that it takes for Mr. Bank to review their offers.

Seriously. 

Finally, they wrote their best and highest offer on a house that had been on the market for one day.  They love this house.  The listing agent called and countered the offer, which my buyers happily accepted.  I told them they were under contract.  They celebrated, showed the house to their families, and started packing up their stuff.

The next day, the listing agent called me back and said that the bank now had multiple offers and wanted new, higher offers from everyone.  WHAT?!

Mr. Bank, you sort of suck.

I recently listed a Short Sale for a woman who was no longer physically able to live in her cute little house.  I received several GREAT offers in the first few weeks, but couldn’t get past the call center people at Countrywide to anyone who could actually review and respond to the offers.  The buyers got bored, or frustrated, or mad, and walked away by the time their offers were actually looked at.  In the meantime, the seller was forced to miss several payments on the house while she lived in a rental, because that is the only way a short sale will even be considered by a lender, no doubt damaging her credit and future purchasing power. 

What is wrong with this picture?  It really does sort of suck.

The bright side?  If you have time, and patience, you will get a great deal on a bank-owned property.  Just write the offers and hang in there, eventually Mr. Bank will actually look at them. 

Looking to spend a fun afternoon with your dog this weekend in Highlands?  Head over to Tennyson Street in the Berkeley neighborhood this Saturday, May 10th, from 2-4.  Local businesses have come together to host a dog friendly, wine tasting event.  $10 will get you and your dog into Gemelli’s Ristorante (on Tennyson, just south of 44th) for a sampling of wine and food.  If you have not tried Gemelli’s yet, this is a great opportunity to do so. The patio is beautiful and will be the perfect spot for outdoor dining this summer. 

The profits from this event will go to Planned Pethood, a neighborhood animal clinic, to help with pet adoptions. 

 There are a number of great shops and boutiques along Tennyson, many of which will be open to you and your dog that afternoon.  Be sure to stop in at Parisi at the corner of 44th and Tennyson for a cup of gelato.  If your dog isn’t tired after all the fun and socializing, you can take Fido to the Berkeley dog park at 46th and Sheridan for an off-leash run around the park. 

Traditionally, Spring in Denver is when the crocus and daffodils are in bloom, you open the windows, and FOR SALE signs start popping up all over the neighborhood.  Spring may be traditional for those daffodils, but is it the best time for those signs?  Is it the best time to buy or sell a home?

We think it is…especially when you’re prepared.  Preparation is totally different for buyers and sellers, but they’re equally important.  For sellers, there is great advice and holdpful tips about getting your home ready to sell in the downloadable pdf library at www.liveurbandenver.com.  Live Urban brokers are experts at knowing what are the must do items, and what are the extra things you can do to give you the edge in the crowded Spring market.

If you’re a buyer in this market, it’s really critical that you be prepared.  There will be a lot of houses on the market this spring.  However, there won’;t be a lot of GREAT houses on the market.  Whey you and your agent find the perfect home, you need to be ready to move quickly, chances are somebody else has spotted it too!

Getting ready as a buyer involves knowing what you want AND making sure that your financial house is in order.  Financing is no longer as simple as picking up the phone or shopping for the lowest rate on the Internet.  It’s never been more important that you use a local lender.  Someone who knows you, and knows the market, can make the difference in whether you close the deal on your dream home.  You’re simply not going to get the knowledge and service that you’ll need from loanmesomemoney.com!  Check out our website.  The BUY A HOME tab has a great Home Buying Guide and tips on what your lender will need from you to get started.

Spring IS the best time to buy and sell, only if you’ve done the work to get yourself, or your house, ready.  Opening the windows is just the beginning!

Still looking for ideas for a special little something for mom this weekend?  There is a great writeup in the Rocky Mountain News featuring Highland Square’s shops and eateries…check it out here.