Interestingly enough, foreclosures in the Denver Metro area under $200,000 are moving fast, with banks pricing their properties to sell quickly, usually at WAY less than market value.  In fact, we are finding that properties end up with multiple offers and a bidding war in the first weekend more often than not lately.  Apparently, the same isn’t true for higher-end properties, which of course have smaller buyer pools and a pickier target market.

According to today’s Rocky Mountain News, there are a ton of homes in the million-plus range that are now listed as foreclosed properties, so if you are in a position to move up the property ladder, now might be as good a time as any to get a great deal on a ton of square feet in a really tony hood. 

OK, we all know it is a serious pain in the booty to have your house on the market.  Real estate agents call at the last minute and want to show it, sometimes they are even sitting outside, waiting for the lockbox code with buyers in their backseat - while you are trying to get the kids breakfast and clean up after last night’s supper.

But, you know what?  Those might be the buyers that BUY your house.  Then you can move on, move up, move over - whatever it is you are trying to do, and you won’t have to keep the place tidy and the personal photos packed away anymore! So, even though it might be a bit embarassing to admit that your house is not always Open House Perfect, let them in!   Gather up the kiddos, take breakfast to go, and smile as you open up the door on your way out, because those buyers are on their way in, and you want them to know that you LOVE living in your house, and they will, too!

The moral of this little rant?  Never, ever turn down a showing.  Those buyers won’t be back another day.  They are going to look at one of the million other houses just like yours that are for sale in your neighborhood that WOULD allow a showing, and they are going to buy one of those. 

P.S., it’s a great idea to rent one of those little temporary storage boxes that can sit outside your house with all of your clutter inside.  That way, you can keep your stuff close by for easy access, but potential buyers don’t have to step around the baby’s bouncer to see your gorgeous, newly remodeled kitchen - toast crumbs and all.

Houses aren’t free in Denver.  You can’t even find very many for $1.  But there are certainly crazy good deals to be found if you are looking to buy a fix-up and hold for at least 2-3 years. This article in CNN Money does a good job of explaining the best strategy for today’s investors:

Rock-bottom home prices have finally begun to lure vulture real estate investors into the fray.

Sharon Restrepo, a broker in South Florida, where home prices have dropped nearly 27% over the past 12 months, recently bought a three-family home in Cape Coral from a very motivated seller for a mere $65,000. It listed for $195,000.

She can rent the three apartments out for about $1,500 and turn a profit, while she holds on to the property until the market recovers.

“The savvy investors here,” she said, “are buying up everything they can.”

Read the rest here.

It’s a really unique time for Rehab and Rent-ers in the Denver Metro Real Estate game:  vacancies are at an all-time low, and home prices continue to drop.  I really think that now is a great time to start or build your Real Estate portfolio - whether you have a long or short-term strategy for the properties. 

In Denver, flipped properties continue to sell, but only if they are priced reasonably - those investors who are buying bank inventory at rock-bottom prices and renovating SMART - meaning that they are not over-improving for today’s market, no matter what price range they are in.

The same goes for Rehab and Rent-ers — if you can snap up a cute little property that looks like crapola, and put only enough money into it to make it a nice little rental, you are playing the game SMART - in a couple of years, when the market stabilizes and buyers outnumber renters, you can always make a few more improvements to get top dollar.

Ready to start looking for Denver Real Estate?  Connect with your inner vulture and get in the game!

The LIVE Urban team was happy to participate in the Highland Street Fair yesterday.  Visitors registered for an iPhone, and checked out LIVE’s new marketing campaign, LIVE well. 

If you missed the Street Fair, visit our booth at PRIDE Fest next Saturday and Sunday!

LIVE Urban is psyched to participate in The Neighborhood’s biggest event!  Always a great time, the Street Fair is free and fabulous, lasts all day, and promises to deliver the best from local businesses and popular vendors.  Stop by the LIVE Urban booth and register for great giveaways including an iPhone!

This year’s date: Saturday, June 14, 2008

• Live music on 3 stages
• Tasty food
• Beer and cocktails
• Over 150 vendors with arts, crafts, and more!
• A special fun zone just for the kids, a classic car show, and more!

General Information

• Band Schedule

• Street Map of Fair

• Watch for your Street Fair Gazette in your mailbox or at 32nd St. stores for more about the street fair including a full list of vendors

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?!

I recently asked one of my favorite mortgage brokers, Scott Mulvany of Cherry Creek Mortgage, for a behind-the-scenes look at the mortgage application process from his point of view - and he delivered!  I think this is a great way for first-time buyers to understand the system - and they can even use it as a checklist as they wait for closing!

How Purchase Loans Are Made

A Step-By-Step Walkthrough

Still have questions, or ready to jump in?  Give Scott a call! 

955 S. Corona will be open Saturday, April 12 from 2-4 p.m. and Sunday, April 13^th from 1-4 p.m. Come by this sun drenched Denver Square just one block off of Washington Park this weekend. For more pics and information visit www.955southcorona.com .

I often hear from clients who say they need more space. Often during these conversations my mind wonders to Nick Park’s “Creature Comforts” from way back when….1998…even way before kids. Visualize those cute little claymation critters in their cages…complaining (with British accents) about their crowded little zoo digs.

So, you have a few kids, you have lots of stuff, your in-laws visit all too often, and you want those in-laws to stay on a different floor than you. Basically, you, the former care-free ski bum, have somehow morphed into a family.

Depending on your budget, there are lots of great deals out there all over Denver. Yes, I am talking about brand new large and lovely homes selling for a lot less than just one year ago. Brand news homes in Washington Park, Park Hill, Stapleton, Lowry, Montclair, Mayfair and University Park. Name your neighborhood. They are out there and lots of developers are trying hard to sell them. Now is the time to get lots of space for a good price.

For example, there are over 50 active home listings for houses built in 2007 or later on the market in zip code 80220 (Montclair, Mayfair and Hilltop area), and well over 100 homes on the market built in 2007 or later in Washington Park, Bonnie Brae, University Park area. Yes, you got it…a surplus of new construction.

I recently helped some clients purchase Brand New construction in Lowry. Choose your very own finishes in Lowry and Stapleton right now for the same price as older homes being resold.

Get that space you need and WANT… and lots of it….NOW for a great, shall I even say, bargain price! Even space for all your favorite Wallace and Gomit dvds!

Many inner-city Denver neighborhoods are currently embroiled in a battle to curb graffiti and fortunately the city has come up with a FREE solution to this problem. By granting authorization to the city via a waiver located at http://www.denvergov.org/Default.aspx?alias=www.denvergov.org/DenverPartnersAgainstGraffiti, home and business owners can have the city come out and clean up their grafitti free of charge. By signing the waiver anyone can call to report the graffiti on the property and the city will promptly come out (usually within 48 to 72 hours) and clean it up for you. You might have an older or disabled neighbor who can’t maintain their property for themselves; simply print out the waiver, have them sign it, send it back and let the city do the rest. I have used this service for years and recommend it to anyone who is facing this problem.