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September 29, 2009
I’m working with a lot of First-Time Homebuyers right now - not surprising since the $8,000 tax credit for first-time homebuyers is getting ready to expire, and even those that probably would have sat on the fence a bit longer otherwise have decided that $8K goes a long way when buying your First Place.
There are a couple of different kinds of First Time homebuyers:
1. The Recovering Renters - this is a long-term Renter who has moved a lot, who is used to managing their own finances and who knows a good deal when they see it. This type of Buyer usually calls me already pre-qualified, with a list of potential homes that they have found and researched online, and they are ready to unlock some doors and make a decent offer when a home meeting most of their wish-list items comes along. The Recovering Renters realize that they won’t live here forever, and they aren’t looking for perfect - they are usually just happy to stop throwing money away on rent and not have to ask a landlord permission to paint the walls!
2. The Determined - These Buyers have been thinking about buying a home for so long, they are determined to find THE ONE. They are timing the market, waiting for bottom, and are determined to get the deal of the century - and sometimes they do. They look at dozens of homes. They want to see everything on the market, and they write really low offers with the hope of getting 10% or more off the list price. Every once in a while, the Determined turn into Dreamers…
3. The Dreamer - The Dreamers are looking for their dream home. They practically move their furniture into every house they look at. They spend hours figuring out where they would place the flat-screen TV, where the nursery would go if they ever had a baby, where their future grandkids would sleep on overnight visits…you get the picture. The Dreamers are looking for their Forever house on their Today budget, which isn’t always easy to find, and it’s not very realistic, or even necessary.
In fact, most first-time buyers only keep that first place only 4 or 5 years, if that long, before a major life change persuades them to move up the property ladder - relocating for a new job, getting married, having a baby, getting divorced…you get the picture.
So, instead of looking for your long-term, forever, perfect-for-retirement place, look for a house that suits your lifestyle right now. As long as you buy in a neighborhood that is going to go up in value, and as long as you don’t make changes that are going to ultimately reduce the resale value (like turning a 2-bedroom into a 1-bedroom or cementing in the entire backyard) you will benefit from all of the advantages of home ownership and be able to build enough equity to have a decent down payment on your Next Place - and then, someday, that Dream Home will be yours.
September 23, 2009
Great news! Not only does living in a highly walkable neighborhood lead directly to higher property values, but it also helps you lose weight. In a recent study commissioned by CEOs for Cities, a national network of urban leaders from the civic, business, academic and philanthropic sectors, it was found that higher levels of “walkability” were directly linked to higher home values.
We have all heard of Walk Score now and while it is helpful, it has always been difficult to assign a solid value to the scores. But according to this study, a one-point increase in Walk Score is linked to an increase in home value between $500 and $3,000, depending on the market. The premium for homes in neighborhoods with above-average Walk Scores ranged from $4,000 to $34,000, according to the report.
And not only does living in a walkable neighborhood help the environment and reduce global warming, but people who live in a walkable hood weigh on average 7 pounds less! Considering how many terrific, walkable neighborhoods Denver has, there are plenty of opportunities to invest in a great walkable neighborhood. For the full article, click here.
September 21, 2009
The countdown clock is ticking faster and faster toward the November 30 deadline - and now that the weather is cool, it seems to be that much closer, doesn’t it?! Depending on which lender you speak to, you need to have your property Under Contract and your loan moving forward sometime in early October in order to guarantee a closing on or before November 30…so if you are out there house hunting, or worse, if you haven’t even started looking, the time is NOW!
Here are a few starter homes in Denver Metro that are available for fast closings…contact me if you would like to see any or all of them, if you would like more information about the tax credit, or if you would like to start your home search!
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Stacie Staub | LIVE Urban Real Estate | 303-455-LIVE
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2743 W. 34th Ave., Denver, CO 80211
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Offered at $300,000
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DETAILS
 Nestled between LoHi and Highlands, Downtown and the Mountains, really perfect location |
| Granite slab countertops, cherry cabinets and stainless steel appliances |
| Open floor plan perfect for entertaining |
| Private backyard with room to add a carport or garage |
| Beautiful hardwood floors, tile, and upgraded carpet |
| Very high ceilings and designer colors add drama to this unique space |
| Dining space, sunroom, covered and uncovered patios |
| Office or 3rd bedroom with sunny french doors |
| W/D in Master |
| Professionally landscaped with low-water layout |
DESCRIPTION
Gorgeous remodel in Potter Highland, nestled between LoHi and Highland, Downtown and the Front Range. |
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Stacie Staub | LIVE Urban Real Estate | 303-455-LIVE
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1470 S. Quebec Way #79, Denver, CO 80231
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Stacie Staub | LIVE Urban Real Estate | 303-455-LIVE
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16439 E. 18th Place, Aurora, CO 80011
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September 16, 2009
Uprooted (working title), is an exciting new series from HGTV that follows couples, families and individuals who are saying goodbye to their hometowns, totally picking-up, and moving to a new place where everything is different.
They are looking to cast people who are moving to start a new career or to live out a dream of living in a totally new place, and will be there from the beginning to document as they explore different locales looking for favorite spots, hot restaurants, and somewhere they can call their new home. Which neighborhoods do they like the most? What kind of home do they want? What fits into their price range? And of course – Are they making the right decision!
They will document the many stages of moving:
-The decision to move
-Exploring the new city, town, country….etc.
-Packing up and saying goodbye to their old home
-Settling into their new location
They are offering $1,000 compensation (as well as approved travel expenses) to each participating family and $500 for participating agents or brokers. For inquires please email: casting@departure-films.com
September 15, 2009
Have you found the house of your dreams, but are sitting back waiting for the price to drop? In Metro Denver, where price deductions are small and listings are selling relatively fast, you might be out of luck. According to today’s Inman News, some cities, Denver included, are showing not only average price increases, but also less price cuts, and less than 4% average between list price and sale price. So, if you are in the market, don’t go house hunting way above your price range only to be disappointed when you can’t low-ball your way into a deal. Ask your realtor for a solid net sheet and look at homes that are priced in your comfort zone!
The whole story…
The percentage of listings with price reductions declined slightly from July to August, and when sellers did slash their asking price they made smaller reductions, according to an analysis of 27 markets by real estate brokerage ZipRealty.
While nearly half of homes on the market in August — 44.2 percent — had seen at least one price reduction, that’s down from 45.7 percent in July. The raw number of homes with price reductions, 281,765, was down 4.3 percent, as inventory in markets tracked by ZipRealty fell 10.5 percent to 637,313.
The average price reduction was 9.6 percent of list price, down from 11.3 percent in July, while the the median reduction amount ($24,494) was down 2 percent.
There was considerable variation by market, with the highest percentage of homes with price reductions in Orlando (51 percent), Jacksonville (50 percent) and Chicago (49 percent).
The markets with the lowest percentage of listings with reduced asking prices were Denver (31 percent), Los Angeles (35 percent) and San Francisco (37 percent).
 Sellers slashing asking prices in Las Vegas made the biggest reductions (21.7 percent), followed by several markets in Florida: Miami-Ft. Lauderdale-Palm Beach (19.5 percent), Orlando (17.3 percent), Naples (14.9 percent), and Tampa (14.1 percent).
Sellers reducing their asking price in Raleigh-Durham, N.C., made the smallest adjustment (5 percent), followed by Richmond, Va. (5.15 percent), Denver (5.3 percent) and Houston (5.3 percent).
In another comparison of listing price and selling price during July, listing and valuation site Zillow.com found U.S. homebuyers paid 3.3 percent less than list price on average, down from 3.5 percent in June and 4.6 percent in January.
A very interesting article I just ran across that gives us more hope for an economic turn around. It may not be the most scientific, but hey, I guess it makes sense.
It’s called the Men’s Underwear Index, and it may be the simplest and yet most ingenious gauge of consumer confidence that I’ve ever heard. Simply put:
Sales of men’s underwear typically are stable because they rank as a necessity. But during times of severe financial strain, men will try to stretch the time between buying new pairs, causing underwear sales to dip.
“It’s a prolonged purchase,” said Marshal Cohen, senior analyst with the consumer research firm NPD Group. “It’s like trying to drive your car an extra 10,000 miles.”
So, according to the theory, when men start buying underwear again, it’s a sign that they believe better times are coming. And that’s exactly what’s happening.
Retailers are reporting encouraging signs in the men’s underwear department. Sears spokeswoman Amy Dimond said stores are beginning to see more sales. At Target, spokeswoman Jana O’Leary said sales of men’s underwear have been stronger over the past two months and multi-pair packs are moving.
No less an oracle than former Federal Reserve chairman Alan Greenspan has given this theory credence, as described in a report on NPR two years ago. Daniel Brogan 5280 Magazine.
September 13, 2009
Think you’ve got what it takes to be the general Contractor on you own renovation? Think you can do it cheaper than the pros? Put your skills to the test for a chance to win $5,000 from HGTV. Producers from locally based High Noon Entertainment are searching for dynamic homeowners who plan to renovate a room in their house using their own budget and acting as their own general contractor.
Before the project begins, the homeowners will come face-to-face with HGTV’s expert contractor for an assessment of what needs to be done and how much it will cost. Then, they’ll hit the ground running, scrimping and saving, pouring in their own sweat equity and hiring out sub-contractors when needed in order to finish on time and under budget.
When the renovation is completed, it’s inspection time. The HGTV contractor reappears for a detailed evaluation of the renovation and delivers an estimate of how much he or he thinks was spent on the project. If our price conscience homeowners are able to fool the contractor into thinking they spent more on the renovation than they did, the homeowners win $5,000 from HGTV.
If you think you’ve got what it takes to beat the contractor, High Noon Entertainment wants to hear from you. For more information: Generalcontractors@highnoontv.com.
September 12, 2009
I showed homes all day yesterday to first-time buyers looking to get the tax credit that is about to expire. I love first-timers - they are so enthusiastic and excited about their purchase, and they love the challenge of the search. And it is definitely a challenge - I don’t want to show them short sales, because if they don’t close before November 30th they won’t get the credit. But there is a serious pricing situation in Denver’s popular neighborhoods, making it really hard to predict what the heck we are going to find when we pull up to each curb.
For example, I have a buyer who would love to live in Northwest Denver, and he has a firm price limit in mind. He also wants to be able to rent out some rooms to subsidize the rent, and he wants to be near the action - restaurants, bars, and the city within walking distance. The first house we saw was a nightmare - a pre-foreclosure situation that had 10 people living in it - and they were all there during the showing. Yuck. I thought my byuyer would walk away right then, but he hung in there - I think he was more curious than hopeful. Surprise, for the exact same price, 3 blocks away, we walked into a gorgeous remodel - granite countertops, stainless steel appliances, staged to perfection. Hmmm. Same square footage, same lot size, same price, same neighborhood, and a world of difference.
So which pricing was off? The third house we saw was in a bit rougher hood, was a little bit bigger, and was a lot more expensive than either one. I’m pretty sure my buyer thought that I was crazy at this point, but he hung in there. 10 houses and 10 TOTALLY different situations later, I still didn’t have an answer - all I can say is this is the way the Real Estate game is going right now. There is no Scientific Equation that can be used to pop out the perfect price for each home. I wish there were!
It would go something like this: $/square foot X neighborhood + granite counters - pink bedroom + garage - small yard = PERFECT PRICE
Do you see what I mean? My best advice is always the same: You have to figure out what the property and everything it has to offer is worth to you. You have to write your own equation, and then make an offer based on your perfect price. It’s different for everyone, but eventually the market does determine the price.
What I do know is this. If you are a first-time buyer and you want the $8,000 tax credit that the government is offering right now, find it quick, make an offer, and get it under contract so that it will close before November 30! 
September 11, 2009
The 7th annual Sunnyside Music Festival is a beloved grass-roots neighborhood music fair held in Chaffee Park from 10 am until 8 pm. It features a dozen family-friendly Colorado bands, neighborhood entertainers, boutique shopping, children’s activities, local food, Breckenridge Brewery beer, wine, sangria, and more.
As in all previous years, the Music Fest is a community Fundraiser. This year’s charitable organizations include The Other Side Arts, The Conflict Center, Friends of Chaffee Park and several area schools.
Here is the schedule for the day. For more information, click here: Sunnyside Music Festival
Main Stage
10:00 Kent Denver School
11:00 Jessica Sonner
12:30 Oakhurst
2:30 Ode to the Marionette
4:30 Mohammed Alidu & The Bizung Family
6:30 Dub Skin
Back Porch Stage (Beer Garden)
10:30 Highlands Ramblers
12:00 Medicine Jones
1:45 The Tanukis
3:45 Dan Craig
6:00 Pan African Drummers
Kids Stage
10:20 Horace Mann Student Choral Group
11:30 Polynesian Dancers
12:30 Anya and the Music Train
1:30 Capoiera
2:30 The Jammy Man
3:30 Mark and Teri – Fiddleticks
4:30 Centenial Percussion Ensemble
September 3, 2009
Updated Bungalow in hot LoHi, with generous B4 zoning. 2 bedrooms, 2 baths, and 1123 SF, priced at $295,000! Move yourself and your business today! Totally renovated with new windows, hardwood floors, exposed brick walls, and 9’ ceilings. Open kitchen with upgraded appliances is very functional with lots of counter space. Enjoy the finished lower level and home theatre with built-in widescreen and surround sound - included with full price offer. Yard is maintenance free. City views from two-story deck. 4 parking spaces. Great central and walkable location!
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