Past Blog Postings - Highlands Ranch Real Estate

www.DenverRelocation.com

Not just relocation! We help nice folks buy & sell homes in Highlands Ranch.

12/26/2006 Here is my 11 month statistical report for Denver's real estate market

Interesting…There seems to be a trend developing. New listings are down: see the trend below. What this means is in the last year we had many properties coming on the market so they could get a “good price” and move up. In other words the sellers said “If I can get this I will sell” so they hired a Realtor who agreed. Or, there were a spate of foreclosed properties, all of which end up in the local multiple listing service.

Now we see that sales have fallen off too (see below), so the strategy did not work and the Realtors who said “I will take your listing at any price” did someone a dis-service.

Or the foreclosures are not coming on the market as quickly as they did last year? Hmm.

It is even more interesting to note sales of properties in Douglas County, with the best schools in the state and 2 of the fasted growing communities being Castle Rock and Highlands Ranch. Both show specific increases over last year’s sales by 5.8% and .1% respectively. I dare say that the Parker area would have shown an increase if Elbert County was not included in that portion of the MLS. (I do have 2 horse property listings out in that part of the world BTW). Average SOLD prices were up 9.8% in The Castle Rock market, 4.7% in Highlands Ranch and 11.7% in the Parker area.

Now, while you are reading this you have to be a little concerned if you are thinking of Buying in this part of Denver. Someone once said that real estate is never as good a deal as it is today and it appears, despite the national news about our economy, and the regional newspaper coverage of the foreclosure glut, that right now is the time to invest in south Denver and Douglas County Colorado. It is my sincere belief that the next 12 months will see a major turn around in Denver real estate values and that will be led by the south metro suburbs.

To take advantage of this a buyer has to be realistic, looking at asking prices and sold prices plus concessions, to determine what a realistic offer would be for a seller. One has to walk in the others shoes before making an offer and you have to be ready to have the offer accepted. I did this exercise the other day and told the buyer 3% off asking is a good deal. 2% is fair. Well, we then went through all the comps and finally, he in his analytical way said, you are right. The hard thing to understand for the buyer is that when the seller takes 3% less on the asking, they are not also going to pay 2% in closing cost. That would be 5% and even if it is a bank owned or pre-foreclosure property, why would they, who are looking at the same data we are, and are bankers, take less than market value?

That brings me to banks and dealing with them…if you do not have to sell, you can do better. If you do not have to move on a particular date, you can do well. If you can remove ALL emotion from the purchase of your new home, and you can wait for an eternity for a response, you might do OK. But you will only do what the market is willing to bear, nothing more, unless there is a load of sweat equity involved. Some folks look at the word foreclosure like a deer in the headlights. Market value of a 250k home after 20k of fix up is still 250k. And if the bank agrees there is allot of fix up needed they would price the house at 235k. You will still pay market value, and get to spend your time fixing it up.

Enough rant…great time to buy in the south suburbs of Denver Colorado. Our real estate market is about to ignite!Lone Tree Colorado Highlands Ranch Littleton Castle Rock Centennial Englewood Parker co and metro Denver Colorado real estate property listings mls is available at www.DenverRelocation.com including searches for properties and homes.

12/13/2006 I posted this short travel log about the horse properties and developments I have seen grow in the years since I got into the real estate business in 1985

The other day I was driving out to a new listing in the Elizabeth area ( a nifty 10.4 acre horse property with barn and 2299 sq ft house sitting on a walk out basement---shameless plug ;-)) and I started to get a little melancholy. I saw al these subdivisions that were not there when I got in the real estate business in 1985 and all that great ranch land being taken up. Yet I was thrilled they way it has all come to be…sure there are issues but overall, I have pride in the properties I have sold and the neighborhoods they are in.

This sense all started as I drove down old “SOUTH PARKER Road” now known as Lincoln Avenue turned through downtown Parker and approached the Pinery. You see back in 1985 The Pinery was it. Sure there were a few homes south in Deerfield, Flintwood Hills, and out to Elizabeth, but the last real suburban type development the Pinery. Today before you get there, there is Bradbury Ranch, Stroh Ranch, Clark Farms, the new alignment on Hilltop Road, Hidden River, Canterbury and so many others.

Then after the Pinery we find an area call High Prairie Farms…a real horse community, Pradrea…an awesome new suburban community, and SW Pinery (not even similar in nature to the “real” one), Franktown (that just used to be a crossroads although they do have a cemetery) and all the neighborhoods which used to be in the sticks like Russellville, Pinewood Knolls, Conestoga Pines and Flintwood Hills, are now fully developed, most with paved roads. Further east you bump into the Cimarron, Stage Run, Running Brook Estates and then Elizabeth….

The old Elizabeth was pretty much built in the heavy pine forests that surround the town and hence Elizabeth in the Pines. With areas like Running Brook, Saddlewood, Pine Ridge, and Bow Meadows as well as Arrowhead and Pine Crest Estates offering lots to build on over the years, many newer homes and floor plans are available even west of Kiowa. This part of Colorado is prime horse country with lots of pasture yet some folks want those pine forests that are south towards the town of Elbert Colorado.

On the way back I purposely went via Castle Rock and noted some other “new” developments, places that have been platted for years and have finally found their legs. Such as Castle Oaks, Castle Oak Estates, Metzler Ranch, the Woodlands and Castlewood Ranch. Most of these are getting developed with larger lots and some have wonderful views. Then there are the custom homes lining the ridge at Diamond Ridge! WOW!

Then think about the Meadows…boy has that had fits & starts, but now it is really hauling the freight with all price ranges in a master planned community. Red Hawk is almost completely developed and further north there is Castle Pines Village, a golf community, Castle Pines North, Oak Hills, and Lone Tree which has new homes being built in the Meridian area. Lest we forget Daniel’s Gate, on the south end of Highlands Ranch and Wildcat Reserve but the north end of Castle Pines North. And of course Quebec now turns into Monarch Blvd. south of MacArthur Ranch.

I recently published a new series of pages on my website that are found by going to www.add-value-to-my-home.com and they are designed to help the person whose home failed to sell or who is thinking of selling, or remodeling their home. There are weekly e-mail tips on how to get ready to sell, what color paint not to use, how to improve the exterior appearance, why pre-inspections are important, electrical issues, asbestos, insulation, how much you could expect to receive for a total kitchen remodel when you sell, etc.

The e-mail tips are designed to help you focus on a single job of upgrading for a week, evaluate the time and costs to complete the job, and then to develop your own list of items that need to be done.

The first tip is on the first page: Lose the bold colors! We had a seller who had red and green on her main floor and the house simply would not sell. It is hard to tell someone their colors simply are too bright and bold, but NONE of the 50 odd buyers liked it enough to make an offer. I hate to use the "back in the day" but when we had a slow market in the early 1990's the first thing we would do to a house is "neutralize it". All walls became APACHE white. All trim came back to either white or wood. They were very "vanilla" homes, but sure as heck, they sold.

My wife had an orange wall (she called it "peach"). When my office of brokers toured it they said "lose the orange wall". It sold a few weeks after we painted the wall. Simply put, your tastes, as good as they might be, simply will not match every buyer that walks in. We have enough problems with them liking the floorplan, why would you shoo them out the door with your colors?

If you would like weekly tips on getting your house ready to sell, go to www.add-value-to-my-home.com and sign up by clicking the weekly tips button. If your home did not sell because you could not get enough from the sale proceeds, these are some low cost to no cost tips. And they are free.

You know after 20 plus years of helping folks buy and sell real estate in Denver Colorado I am continually learning new things. The other day I was counseling with someone who was trying to get a new job across the country and was looking at the costs of relocating. Just the moving truck is allot! Anyway, as we visited it became clear this young family had no idea what lay ahead of them, in terms of tax liabilities (I am not a CPA), moving expenses, and costs. So I ran through some of the scenarios for them...(btw, these are not absolutes):

Here are some variations I have seen on relocation packages:

1: "Your check will be in Denver on the 1st of the month. If you want it you had better be there". Ever heard of someone getting "transferred" this way? It sure makes life more challenging! But you know who is paying for what!

2: "Here is a BIG signing bonus (10-50k) to make your move. Whatever you do not use is yours. We are excited to have you join our office in Lone Tree" Sounds great but make sure to take about 30% out of it right away to pay the INCOME TAXES you will owe???? Yes it is true this kind of payment to you is 1099 miscellaneous income and the IRS will expect their share at the end of the year! Again, not a tax advisor so your number will change. Make sure you talk to your tax advisor.

3: "Your new company will pay for all your moving expenses! Just make sure to keep track of them and submit an expense report when you are done." Questions to ask here are: "What moving expenses? Moving company or U haul? Real estate expenses, on both the old and new homes? Temporary housing for how long? Can I take my spouse on a get acquainted trip? House hunting trips? Help without he trailing spouses employment? And the really BIG one: IS IT BEING GROSSED UP TO PAY TAXES???? Yeah, that is right, it is taxable income and folks will want their share.

4: "We will even help you sell your home". Normally this means they will refer you to some real estate agents locally who have been "approved" by the relocation department (read third party relocation company) who will market your home for you while you are still living in the house at your old address. You can still choose to use the Realtor of your choice. The "relocation department" will also recommend Realtors in the new location, set up moving companies to call you, and generally assist in the process. Ask for a bonus of a percent of the sale price if you sell outside of the "relocation department". There are more than a few "terms and definitions" you need to know so please go to our relocation glossary at http://www.denverrelocation.com/GlossaryofRelocationTerms.html.

5: "We will buy your house, we will give you a loan to buy your new house. Don't worry about a thing" or a buy out and full relocation package. This is normally reserved for the higher management and is extremely expensive for the employer. Everything is negotiable and on the table.

And that last note is one to carry when you negotiating a relocation package.

2 other thoughts which seem consistent from what I have heard over the years:
"The guy who hired me promised but the human resources said they did not do that for my pay level". Just as a new hire joins the company the HR department is trying to save money and creates an automatic riff. I don't get that philosophy but there will be those who new transferees or hires who do not challenge HR and they do not get what was promised so the company saves money.

And remember, moving to Denver or Highlands Ranch, Parker or Greenwood Village, check with your tax advisor to see what the ramifications of your move are in your situation.

Yesterday the Denver press reported that Tucker Hart Adams prognosticated a national recession, and one to start here in Denver in 2007. She was right in 2001 and may well be correct again, however, she has been wrong more often than right. After all, didn't we just get word that Lockheed is hiring 600 for a new project? Layoffs are not in the news. And there are still quite a few "HELP Wanted" signs in the area. The prognosis does not fit the current reality, but I do not have nor do I want to know all she knows. My brain would cramp!

However, lets get real. Too much of our lives are spent focusing on the negative and the press loves to tells us all the bad things going on. In fact, this is big news on all the local channels right now. The real estate truth is folks always need to sell and others always need to buy. This process just gets longer and more drawn out when the market becomes lethargic instead of energetic.

What can a seller expect? A longer marketing period is first. Needing to be more aggressively (closer to the bottom line) priced is number 2. Fewer showings after the first couple of weeks with less feedback from agents who are tired of working with Buyers who won't buy. And while advertising looks like it will sell a house, a Realtor who understands marketing and where the customer comes from.

By the way: Who is a Realtor's customer? Is it the Buyer or Seller? They should be clients and connected to the Realtor with an agreement. So who keeps bringing clients to the Realtor's store? Other Realtors are my customers. So your Realtor's reputation becomes even more critical. If he/she is known as a hard case in the business, does not participate in Realtor organizations, or is a part timer or newbie in the business, their desire to serve may not be enough to get your home sold. Experience and longevity should be a major factor in choosing that Realtor to represent you.

#1 Is agency really that important? Remember the day when football players played both offense & defense?

When playing defense you set up strategies to protect the goal from the other team getting across the line!

The Realtor who acts as your Sellers Agent (a legal term meaning they owe you fiduciary duties) is in charge of setting up that defense. The best Sellers agent will know the ruses and dodges the Buyers Agent will use, because he does them often playing the other direction.

One of the biggest reasons the Listing Agent or Seller's Agent wants to keep the Seller out of the house during showings is to keep the Seller's mouth shut. How often a Seller telegraphs something that costs them money could never be calculated.

Listen to your Broker. Make sure they are your AGENT and responsible to you!

#2 Highlands Ranch is a community of approximately 27000 families and growing, one of the reasons Douglas County Colorado has been one of the fastest growing Counties in the Country.
A rough count last week showed about 715 homes on the market. Compare that to 1991 when there were at any given time over 500 on the market, and there were about 12000 homes here then. We do not have a soft market. We do have some builders who in 3 years have raised the price on the same model from 300k to 400k.
That is a large jump. They must think we are not in Colorado anymore, but they sell them.
SO whaT HAPPENS AFTER THE BUILDING IS DONE? wHERE DO PRICES GO? uP down sIDEWAYS?

#3 GOOD SCHOOLS?

I have some buyers coming in from Florida today, They want "GOOD SCHOOLS". Well I can only report stats on Cherry Creek Schools or Douglas County, Or Littleton or Jefferson or Aurora or Denver Public schools. Fortunately, I also have a great resource for school info at http://www.denverrelocation.com/community_schools.html. On this special page there are some links to all the school districts and admistrative sites as well as school report cards.

This is one of the key areas that folks are concerned with when relocating to Denver COlorado and our suburbs including Highlands Ranch, Littleton, Centennial, Englewood, Lone Tree Parker, Castle Rock, and metro Denver, Colorado.

#4 Day 2 Denver Colorado Realtor

Up at 6:15 paper and e-mail done by 7:15

Off to the office for an 8:15 appointment.

8:30 meet client for showing of foreclosed property.

Didn't get the flyers delivered yesterday so still have to do that.

Leave office at 9:30 for 10:00 appointment to list a Parker Colorado Horse Property.

Take pictures, get measurements, have documents signed. House goes on the market on Monday.

Back home about 3:00.

Church at 5. and the phone gets turned off.

NORMAL DAY in Denver Colorado Real estate

Up at 5:30 - 6:00 am. Read paper and get e-mail before 7:00.

Post blogs or other chhanges to website by 7:30

Shower shave & out the door by 7:45 for 8:00 marketing meeting.

Closing or contract follow up from 9-10 am.

Closing at 10 am.

Prospect lunch at 11:30. Goof off for 15 minutes at hobby shop???

Deliver property flyers to vacant homes.

Meet with seller at 1:00.

Contact Buyer and negotiate contract to buy Highlands Ranch Townhome.

3-4 pm Office follow up and e-mail. Adminstrative duties.

4-5 on a Friday afternoon...try to remember what you forgot, like calling sellers with updates, client appointments for Saturday, relocation clients in town or making an offer long distance.

5:30 Home, dinner at 6:30 (I cook Linda cleans) them back to e-mail for 7. 2-2.5 hours on hobby.

Bed by 10 after one last e-mail check.

Being a Realtor is easy, And this is TGIF!

#5 In Colorado each county has different zoning classifications. Those counties close to metro Denver Colorado have much stronger rules than those out a way.

However, they all have thier requirements.

A client wanted a dog kennel to raise Jack Russel Terriers. To find the right zoning was one thing, but the county will not commit to a special use permit until they have formalized plans! So he had to buy knowing that the county might ask for extra stuff to get the permit.

Horses and livestock are generally already approved on acreage with the right zoning...but the construction of any out buildings, barns etc., all all supposed to be approved by the county commissioners. Never a guarantee.

Finding your way through this can be daunting, but with the right advisor, not so bad.

#6 Denver area resources for Developmental Disabilities

I thought I would let all of you know so there is more information out there. Here are some resources I have found through my personal contacts and other Denver real estate agents & mortgage brokers.

The website for Canine Companions for Independence is www.CCI.org.

The phone numbers for:

Development Disabilities Resource Center
Jefferson County 303-233-3363

Developmental Pathways
Arapahoe County 303-360-6600

All of these should have resource and guidance for those needing information.

#7 Here is an un abashed advert! Sorry. Cannot help myself.

this is a 5 acre horse property in Parker Colorado.

This is one of those homes where the people live in the house, not the horses. If you have ever looked at horse properties there are some where the barn is cleaner than the house. It is the way dedicated horse people live. This is one of those properties where there is a cleary barn and fencing, but no horses have lived there in at least 5 years.

Over 2600 square feet finished in this walkout ranch located in Elbert county with great flexible zoning, yet it has a parker address.

#8 No matter what kind of market you are in, there are never enough good homes available to fill the Buyer's insaitiable need to see more!

We have been looking for 200-230k town homes and find there just are not enough, nor are the Seller's receptive to what the market has to say. The right hous eis 12k over value and the wrong ones tells us that, but not in a way that is obvious. Appraisers still have to agree with the sale price and so do you count on renegotiating after the appraisal? I do not think that is in the client's best interests and it is frought with risks.

Awesome cabin!

When someone says they want a cabin in the mountains, what do they mean?

Logs and chinking with barbed wire? Or pseudo logs and gas appliances, 2X6 construction Plus a heated garage and a gourmet kitchen on 6 plus acres for over a million dollars?

I have seen them both and know where to find them here in Colorado.

Million plus horse properties

Not too long ago I saw a horse property that would bring tears to any horse lovers eyes.

135 acres in 3 parcels. A large commercial barn arena with bleachers for shows. a covered breezway from the show barn to the arena. even a seperate quarantine barn. A gorgeous home high on a hill. For just $7.6 million in the south Denver Colorado area.

I have lived in the south metro area since 1981.When we moved way back then it was specifically to be in the best school district in the state…at that time Cherry Creek School District. The district got large and with it it’s campuses, and I guess I am still a small town guy, so in 1989 we moved to Highlands Ranch, a part of Douglas County School District. I think I was most impressed by their planning department which had growth and schools planned to meet the growth. The county really took off and is still one of the fastest growing in the country!

Last week the results of the standardized CSAP tests for all school districts in the state were released and Douglas County School District was either #1 in the state or tied for it across the board (over 16 categories except in 9th grade math). My faith in the organization is rejuvenated!

Say what you will about teaching to the test, and all the other comments about standardized testing, but how else do you compare schools? So take a look at the results. Go to our website at www.DenverRelocation.com and follow the schools link to the districts. Also, you might check out the Rocky Mountain News articles at http://cfapp2.rockymountainnews.com/education/index.cfm which, in print gave you side by side comparisons.

One of the most important bits of information for folks relocating to Denver Colorado is about our schools. Well relocation is a large part of our business so I recently placed a new link on the front page of www.DenverRelocation.com which takes folks directly to my "Schools Page". There one can find information on most of the schools in metro Denver including Littleton, Highlands Ranch, Cherry Creek, Douglas County and other school districts.

Even more important and complete is a link to some school reviews done by a private 3rd party source. Over the years this author has printed volumes on schools that were by far the most comprehensive we have seen. Now it is available on line. I have subscribed to the service and so to the public these reviews of schools including phone numbers and contact names are free. I do ask that if you wish to look at them and use them you register.

So for this great information that includes Colorado school districts of Sheridan, Jefferson County and Englewood, along with the Denver Public School system go to www.DenverRelocation and click on the school link just below the welcome mat.

Monthly I like to do a review of statistics for the Denver market. The only way I can do this is by watching the number of homes that sell and the number of new listings that come on the market. I do this through out the metro area and include areas like Highlands Ranch, Lone Tree, Littleton all of Denver, and the suburbs.

Once again there is no drastic change to note. Sales are pretty steady for June the last 7 years, the real high being in 2000, which would not be a surprise to any seasoned real estate pro here in town.

Those were the days when getting the buyer a good deal meant getting there first. Today it means negotiating to 97 or 98% of the listed price. A buyer's agent should do better than "AVERAGE" by helping the buyer craft a strategy for their negotiations and a Seller's agent should be able to stand firm and not let little bits of motivation information slip out. That is one of the keys to protecting the Seller's assets.

I personally had a talk with a listing agent who dumped ALL the Seller's motivation in my lap. WOW! I wish I had some buyers for those properties.

I had a listen to a fellow named Tom Quinlan this morning of All State Fireplace Inc. in Denver. He was saying allot of gas fireplaces are installed incorrectly and they can spill carbon monoxide into the very rooms we are living in, causing low levels of carbon monoxide poisoning. A very uncomfortable, and dangerous situation.

Here is an article Tom wrote. Feel free to link to it and share it with friends. http://www.allstatefireplace.com/pdf_newsletters/Are%20Gas%20Fireplaces%20Dangerous.pdf

Real estate agent van Denver Colorado Highlands Ranch

After nearly 6 weeks of continuous use our little cargo van returns from a stint carrying the props and equipment for the Douglas county Library Districts Page to Stage production of
Miss Nelson is Missing! See http://tinyurl.com/pdy9e for details. Pete Doty/Metro Brokers is listed as a corporate sponsor by the Douglas County Library District.

The van has been in use carrying props, makeup, lighting and all the equipment required to stage a production at Douglas county elementary schools and libraries. The van is available to non profit groups free of charge. Additionally, clients of Pete Doty & Company, and the Highlands Ranch Town Center office of Metro Brokers, may use the van.

Inquiries should be directed to Elaine Proctor 303-880-5585.

What can I say? It was a fairy tale wedding!
Castle Kilts Scotland a Scottish Pastor and ours from America!
Haggis A Kaleigh (Scottish barn dance) at the reception!
Thanks for putting up with this non professional posting.

Continuing my rant on headlines selling papers, a third article by the same author shows Denver's real estate market is growing, but at a slower pace than others in the nation. Again, the headline would tell you something else, but those of us in the Cyberstar community, who communicate regularly, know that some of the high growth markets listed in the report are in downward cycles this year. I would love to look at next years report early! Here is a link to this article (hope this works) http://tinyurl.com/od7lt.

Last week the Rocky Mountain News reported, under a small interior article and headline that single family rental vacancies were down to 4.9%, the lowest in quite a while. The article states that foreclosures and rising interest rates have caused the rentals to be absorbed more quickly and therefore increase the demand for housing. The article can be viewed at http://tinyurl.com/n78ae.

In another article the headline points to the fact that foreclosures are up again and in the 2nd paragraph notes that they are only a fraction of the rate in 1988 nearly 20 years ago, and a sizable difference in the metro area population. This article can be seen at http://tinyurl.com/ozxkw.

How serious is the foreclosure issue and how much effect does it have on our market?

The truth of the matter is that those folks who qualify for a loan based upon 2 incomes, and then lose one of those, even for a short period during a layoff, may never be able to recover. That and the liberal lending with 100% financing, and a "soft market" since their purchase (we did go through a mild recession here since July 2001) they may elect to just walk away. Finances are certainly one of the most stressful portions of any relationship, and more than one marriage has failed as a result of not careful planning.

So, I take these 2 articles for very positive indicators, in spite of the headlines, that the Denver Real Estate market is, not booming, but certainly poised for tremendous growth between 5-8% this year 2006. Steady and slow sometimes is better than volatile and fast. What goes up fast requires the desire to absorb risk. Denver has not been a really risky market due to the mid-western nature of our populace.

Not that I can see but:
There was an article last week in the Rocky Mountain News that stated that Denver has the highest number of listings ever. You can read it here: http://tinyurl.com/napu6

When you are reporting statistical information you have to be careful how you handle it.
The article referenced missed 2 important facts...

"Ghost Listings"-those reported in two market areas and appearing as 2 listings account for approximately 5097/28949 as of 5/8/06; a valid marketing tool where properties might be on the border of two or more geographic market areas as defined by Metrolist.

New Homes Listed by builders approximately 1630/28949 as of 5/8/06...these are new homes never lived in before and not "resales".

It appears that there are about 23,852 actual single family and condo/townhome property listings in the Denver market as of this date (05/08/06). Almost a 25% error off what was reported.

Even more interesting was the article on the "news" about the appreciation in the Railyards. I do not think we can have both an appreciating market and a Buyer's market.

A final item that would be an interesting statistical query; How many listings are fixed up from a sale within the last 6 months? I may do that one of these months.

I would define Buyers Market as well over 120 days on the market for the average listing, and the seller receiving 95% of asking price or less. Right now that number is closer to 98% at least personally. Statistically, these are very hard numbers to access, because of the way the MLS stats are developed, and reported.

So ultimately the article should have headlined:
Home Listing Data Inflated by 25%.

Last week the Colorado daily papers jumped on the employment rate news and the fact that Colorado has one of the lowest un-employment rates in the country. Boy , does that remind me of the heady days of the oil boom, and the dot com boom. Lets couple that news with the drop in personal bankruptcies reported later in the week! How is it possible that foreclosures hit a record in Denver in the first quarter????

Well, 2 theories from me anyway. The first is this: GOOD NEWS DOES NOT SELL PAPERS or ADVERTISING. Is anyone out there surprised? I know I am regularly seeing the dredge the main stream press and journalists feed me, because if I do not fear what they have to say, I won't read and absorb their columns, then they won't sell as many papers or adverts on the TV.
2nd is this: At the end of 2005 nationally there was a run at personal bankruptcy as the laws had changed, credit card agreements were modified and there was a blood letting of everyone getting in before they lost their opportunity! This carried over to not making house payments and of course that means folks would be getting foreclosed upon.

The Denver Colorado Real Estate market, and especially areas like Highlands Ranch, Littleton, Lone Tree Centennial and Greenwood Village Colorado, while not immune to this rash of foreclosures seemed to have weathered the storm fairly well, and we are now poised for a dramatic up swing in values. Weathering this kind of storm is in large part due to owners who simply would not accept less than what they thought their home was worth, and taking it off the market. Sellers generally respond more slowly to downward market pressures than say a buyer would, and resist price reductions unless absolutely required.

Other recent news that should buoy the Denver housing market is the rental vacancy rates are down, rental rates are stable if not up, the office market seems to have bounced off the bottom with a lower vacancy rate than last year, and fewer subleases available, and finally the job picture. I had a client move here in December and her spouse was an IT professional with no job in Denver. Yesterday I learned he found an IT job! 3 years ago there were not any of those to be found! Evidently there are some out there now. Add that to the minerals and oil & gas industry boom going on on the west slope with the prices of natural gas and crude oil going up, and Colorado's economic future looks bright!

I just found a nifty little property search that gives you an acurate count of how many single family residential homes are on the market in the Denver Colorado area. Go to www.DenverRelocation.com and check out the link in the middle of the page. This includes the suburbs of Denver and allows you to modify your search to drill the search down to a single suburb, such as Highlands Ranch, Littleton, Centennial, Lone Tree, Greenwood Village, Parker, Aurora, Cherry Hills Village or Castle Rock Colorado.

Chart showing Real estate activity in Denver Colorado Highlands Ranch Centennial Lone Tree Littleton Englewood

Denver Market AN OIL BOOM?
From what I can see, all the indicators are there for an Oil & Gas Industry boom in the Denver area. The last time this started, in 1978, the price of oil was going through the roof at about $15.00 per barrel. Economic conditions called for a minimum of $10 - $12 per barrel. Today, standard thought is that economics require $30 plus per barrel and we are at about $42 sustained (if you did not know I have some past experience as a landman in O&G and was buying a house here in 1978). So companies are hiring and drilling. Downtown Denver is starting to become a hub once again for the oil & gas industry as those in charge can again justify having offices here.

Our real estate prices will start to reflect this soon. We saw a slight increase in homes sold in February over last year. And there were fewer coming on the market. Both very good signs for the ealy bird.

Take a look at the trends in the above charts. And note something else unique to this time of year: the number of out of town license plates. What are they doing here in March? Our high time for driving vacations is the summer, not spring. Hmmm? Tangible? Hard to say. One other thing to watch: the number of help wanted signs you see.

We are right at the edge. Get in early!

Highlands Ranch, Littleton, Centennial, Englewood and metro Denver, Colorado real estate information is available at www.DenverRelocation.com including searches for properties and homes.

It finally happened…my soon to be 26 year old daughter announced she was getting married, IN SCOTLAND, in a Castle, and the groom would be wearing a kilt! This all started to happen back in September when Elaina and Stewart Renton became engaged after a three week courtship. Wow, does that move fast! Anything is possible when He has his hand in it!

We finally got to meet Stewart Renton of Edinburgh Scotland over Christmas break, and thoroughly enjoyed our time together, skiing, tubing, climbing and chasing around Colorado for 3 weeks! I think we convinced him that this is where they should live (typical parents) but Elaina has extended her commitment to YWAM (Youth with a Mission) in Edinburgh for another 2 years. She is a missionary to Scotland, a country that is in a “post Christian” state and therefore a very challenging missionary field. She does “pub ministry” as well as other performance ministry with her fiddle and the team that works from their base. She also has the heart of a church planter and works at starting small home churches as described in the Book of Acts.

The challenges of any wedding are daunting and I think it is good we are so far removed from the event. At least until late April when Mom will travel to Scotland for the final assault on the planning, dress making and other “mother of the bride” duties. Dad and the Maid of Honor, our other daughter Angela or “Sonnie” as she is known, arrive the Monday before the big event which will be Thursday, May 25th. Being “the Father of The Bride” has limited duties and I certainly remember all the movies. YEP, that is what it is like.

Being a take charge guy, I decided that wedding blessings would be an area I could work on. So I bought a domain name and published a website for my daughter getting married in Scotland. Lots of folks want to give a newly married couple a blessing of some sort in the form of a present, but they are simply not practical to carry from Colorado to Edinburgh. And besides, I reasoned, the electricity in Scotland would burn up a toaster from the US! I unveiled my plan to Elaina & Stewart over Christmas and they were “surprised” at my creativity? However they did add one note: “The best gift would be long term support of my missionary work Dad”. Undeterred, I proceeded to figure out a method where folks can make either a tax deductible gift of support, a single cash gift, or buy a gift through the registry in a Scottish department store.

Hence I offer to you, www.Elainaswedding.com, a website for my missionary daughters wedding in Scotland, where you can see pictures of the castle, the couple, the reception hall, the chapel, as well as pictures from our 3 weeks in December. Please visit and let your friends know about it.

OKAY! Who is listening out there?

Honestly, I have only listened to 3 podcasts since I became aware of them, and one was my market update last month. Are you listening or simply do not care? I can see some benefit to downloading a file to my mp3 player so I could listen to it later, like maybe a state of the union address or the radio broadcast of the super bowl, but do folks want to hear about real estate on their iPod?

So a question for you readers, what would you want to hear?

The best suggestion I have heard is "man on the street" type interviews of clients and customers as to why they like their neighborhood. Someone else thought about it and said to give that "Chamber of Commerce tour" that you do in your office with the map, kind of explaining the drive distances, where the mountains are, etc.

What would you suggest? Love to hear a comment from you about how we can use podcasts to help you in the process of buying or selling your home.

Ruth Ann Macklin makes some comments on the Top Agent Blog that, if a seller listens, will save them money in the long run. Take a look at http://topagentblog.blogspot.com/ for the entire article.

This has been one of my most active January's in years, having either closed or put under contract over $1mm in residential real estate. I would to love to think it is my exceptional marketing, prowess as a negotiator, or good looks, but frankly I think it is the weather!

Yep, that's right, the weather. This next weekend will be slow with the super bowl and all, but the Denver weather has been gorgeous this year. Very dry but gorgeous. Folks do not seem to think that others buy homes in the winter, yet we have new relocations popping up all the time. So, an old retail adage goes like this: "If they can't see the inventory, they won't buy the inventory". And so it is with houses.

And while I can brag about what I have done, what really matters is what your market is like. Some sellers are still very motivated. We just got about 6% off the asking price on one deal. Yet prices tend to spike in the spring. That is because inventory is down in the February and March time frames and so in a macro economic sense, timing is perfect right now to sell. Working with an agent that lists and sells gives you an extra edge as he can see both sides of the transaction and "get in the other guys head". Never go un-represented. That is a gun without bullets. Call and we can talk.

Timing is right next to location in real estate!

It is true according to a recent story by Realty Times http://realtytimes.com/rtapages/20060112_arello.htm that there are now over 52000 real estate licenses in Colorado! That is up over 24% from 2004! Amazing! Those of us in the business are constantly reminded of the "NEW BUSINESS MODEL" all these young lions will bring to the industry, yet the truth is that no matter what their great ideas and plans, 95% of the new licenses will not renew at the end of their first year. And tomorrow it will still be true that 10% of the Realtors (R),not just license holders, will be involved in over 90% of the residential real estate transactions.

The national statistics are even more humbling...over 2.5 million licenses and just half of them are Realtors(R), members of the National Association of Realtors who subscribe and by membership agree to support the NAR Code of Ethics and Professional standards. SO while everyone has a choice who represents them in their real estate transaction, uncle Charlie or a seasoned professional, no one should go un-represented. It is like going to a gun fight at the OK corral with only 3 bullets in the gun! When it looks easy, somebody is doing their job well!

For local Denver property searches, virtual
tours and many other Denver area real estate
resources go to www.DenverHomeSource.com

Pete Doty of Pete Doty & Company - Metro Brokers who offices in and lives in Highlands Ranch is attending the prestigious and exclusive Allen Hainge Cyberstar Summit in San Antonio, Texas January 8 through 12, 2006. Pete, who has been a member of this elite group of “tech savvy” Realtors since 1999, Allen Hainge’s CyberStars, has attended Summits with other CyberStars to share the "latest and greatest" ideas, tips and techniques on using today's technology with other CyberStar members. The CyberStar networking organization started with a group of just 4 Realtors, and has grown to close to 200, with members in the US, Australia, the Bahamas, Canada, and Mexico. He just returned in September from the Wyoming Association of Realtors convention where he participated in a CyberStar panel presentation.

Pete is one of 2 Denver area CyberStars and the only one in the south Denver area and one of only 10 CyberStars in Colorado. The CyberStars are a worldwide family and each has demonstrated outstanding ability in three areas: production leadership, using today's technology in their marketing efforts, and a willingness to share their discoveries, ideas and spirit with other CyberStars. Pete published his first website in 1995 and actually developed a new one on a train ride from San Diego to Denver in 1997, which he published on his return.

During the summit Doty has been asked to assist with a 3 CyberStar panel on publicity and personal marketing, and how those 2 facets of the business can help sellers sell homes faster, and how buyers can find the perfect home more quickly. “When folks enter our home finding or selling system it typically only takes looking at 5-9 homes before they find the right one” Doty explains. “Important information on buying or selling can be acquired in the months and years leading up to a home sale or purchase through these systems, and often the folks actually find our services as a result of our efforts at publicity and personal marketing”. These resources are available at www.DenverHomeSource.com.

Pete Doty is Broker/Owner of Pete Doty & Company - Metro Brokers, and has been a licensed real estate broker since 1985 in Denver as well as the owner of the Highlands Ranch Towne Center Metro Brokers office. He holds the prestigious CRS (Certified Residential Specialist®) and the GRI (Graduate Realtor Institute) designations.Pete Doty of Pete Doty & Company - Metro Brokers who offices in and lives in Highlands Ranch will be attending the prestigious and exclusive Allen Hainge Cyberstar Summit in San Antonio, Texas January 8 through 12, 2006. Pete, who has been a member of this elite group of “tech savvy” Realtors since 1999, Allen Hinge’s CyberStars, has attended Summits with other CyberStars to share the "latest and greatest" ideas, tips and techniques on using today's technology with other CyberStar members. The CyberStar networking organization started with a group of just 4 Realtors, and has grown to close to 200, with members in the US, Australia, the Bahamas, Canada, and Mexico. He just returned in September from the Wyoming Association of Realtors convention where he participated in a CyberStar panel presentation.

Pete is one of 2 Denver area CyberStars and the only one in the south Denver area and one of only 10 CyberStars in Colorado. The CyberStars are a worldwide family and each has demonstrated outstanding ability in three areas: production leadership, using today's technology in their marketing efforts, and a willingness to share their discoveries, ideas and spirit with other CyberStars. Pete published his first website in 1995 and actually developed a new one on a train ride from San Diego to Denver in 1997, which he published on his return.

During the summit Doty has been asked to assist with a3 CyberStar panel on publicity and personal marketing, and how those 2 facets of the business can help sellers sell homes faster, and how buyers can find the perfect home more quickly. “When folks enter our home finding or selling system it typically only takes looking at 5-9 homes before they find the right one” Doty explains. “Important information on buying or selling can be acquired in the months and years leading up to a home sale or purchase through these systems, and often the folks actually find our services as a result of our efforts at publicity and personal marketing”. These resources are available at www.DenverHomeSource.com.

Pete Doty is Broker/Owner of Pete Doty & Company - Metro Brokers, and has been a licensed real estate broker since 1985 in Denver as well as the owner of the Highlands Ranch Towne Center Metro Brokers office. He holds the prestigious CRS (Certified Residential Specialist®) and the GRI (Graduate Realtor Institute) designations. He is known for his work with the South Metro Denver Realtor® Association's Geek Speak technology programs as well as his exquisite HO model train layout.