Pete's Blog Postings in 2005

Posted 12/7/05

HI!
This is a picture of part of my train layout in the basement. Yes, I painted the backdrop and built all the buildings! Most folks who
have visited with me for anytime, or my website, know that I enjoy model trains! So I am constantly on the look out for a good layout room or basement for someone to build a dream layout.

Well this home offers a 1096 square feet of unfinished paradise in the basement! Oh, someone else lives there too?





There are 3 bedrooms and a study on the main level of this 1600+ square foot RANCH plan. All in the high 200s. There is only a 2 car garage here as you can see.



Hard to believe, but they did not choose me to be their Realtor so lets go look at it together.
You know me, short, sweet (?) and to the point. So, if you have a friend who is looking to buy or sell, give me a call. Your referrals are a valued compliment!

Posted 11/24/05

I know of a 2700 square foot home in Highlands Ranch, backing up to a greenbelt with a finished basement. This home has 3 bedrooms up and a huge master suite. There is a mainfloor study in this 4 level home and I am sure it can be purchased for under $400k even though there are some awesome mountain views. Only 20 homes were built by this builder in Highlands Ranch and it is really unique. I think it is a great value!

Posted 11/15/05

Our small cargo van has really been getting a work out and it is great! Non-profit organizations from all over town have been using it free of charge. Please make use of it for your group, especially during this busy time of year.
Clients and friends can also use the van by calling and scheduling to pick it up from our office. Call Elaine Proctor at 303-880-5585 to schedule your time.


Also, Metro Brokers Inc. is once again participating in the annual toy drive Toys for the Mission. Donations should be a new, unwrapped toy for a child 2-12 years old. Drop offs this year will be at the Highlands Ranch Towne Center Office, 9090 Ridgeline Blvd., Suite 200, Highlands Ranch, Colorado 80129. Call 303-880-5585 for directions.

Posted 11/3/05

In the real estate industry we are always being asked for information. Most of the time we Realtors “think” we are giving you what you want when we send a relocation booklet or other property information when in fact we are sending as much “I love me & you Should Too” material as anything else. We even have the National Association of Realtors (NAR) do studies on what people want, and where they go to find it. And they do that every year and there really are some good statistics there.

Yet the real people I want to impress and have conversations with are not other Realtors, and are not even my current client list, but rather those who are currently thinking about buying or selling a home.

So what traits do you look for in a Realtor to sell your home?
How would you choose a Buyer’s Agent?
Where do you go to find information on a town you may be moving to?
What kinds of information do you want provided in the above?
Do you want a Realtor to do your loan too?

While we seem competitive as Realtors we are cooperative. In other words we may compete to gain your business, but we will cooperate with other agents to get your home sold. Therefore, I honestly am seeking your advice so as to become more competitive and to earn your business. So the last question is, How can I earn your personal business?

I would love your responses to: pete@DenverHomeSOurce.com

Posted 10/31/05

Niel Thomas in Anchorage posted a note on his blog a few days ago about a squatter that he was attempting to evict. You should get a giggle here, especially where the terriers are concerned! OUCH! Follow this link. It is a hoot! http://reals8.blogspot.com/2005/10/evicting-tenant-from-hell.html.

Posted 10/26/05

Once again, the news reports support the previous posts I have made, however, the lack of comment from the Home Builders Association is troubling, at least to me. Last year at this time we were starting to see reports from the HBA that permits were up over 25% from the year before. Where has that inventory gone? How much of it was actually built. I believe this report creates a lack luster image of Denver's overall market where it is not really so.

Last year we saw a 25% increase in permits I knew we would have more re-sale properties on the market at the end of this year. It only follows, provide supply in one area of a market, demand goes there if prices are comparable. The builders provide incentives to the Buyer as well that a re-sale cannot. So is it really a SO-SO market? according to http://www.rockymountainnews.com/drmn/real_estate/article/0,1299,DRMN_414_4186667,00.html
it is, but not according to this broker.

We are still blessed with positive growth and if you look at the true sales barometer, "TOTAL UNITS (new & used) SOLD the numbers would provide a much clearer picture of the economic real estate health in Denver. Even the economists say we are still trending up at 3-5%.

Posted 10/20/05

This home is located in southeast Denver, Colorado close to the Tech Center or Washington Park, and the new light rail line will be in soon too. An amazing remodel and decorator touches can be seen at http://www.denverrelocation.com/4551Utah.htm or by making an appointment by calling

Here is a tri-plex investment opportunity located in western Denver Colorado close to Alameda & Federal. 3 nearly identical units all generate $700 per month each and expenses are minimal at about $3200 annual plus debt service. All are in good shape however 2 units need dishwashers.Two units are leased with contracts and one is on a month to month with the owner's brother.

Priced at a mere $290,000 this building cash flows with minimal downpayment. Located at 270 South Eliot Street, Denver, Colorado 80219

In the Denver real estate market we have seen steady growth of a mere 3-5% over the last 2 years. Can't make a fortune but steady is good. Normally I can get someone out of a home after they have owned it for 2 years with no damage to their wallets. After that it is all on the plus side. The south end of town (Highlands Ranch, Littleton, Englewood, Centennial, Cherry Hills, etc) Seem to be faring better than the north and central. The article in the Rocky Mountain News certainly confirms some of this while there are differing opinions there too: http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_4171585,00.html

A personal reflection is that once Katrina hit we saw a 9-11 like atmosphere fall on the town as a whole. We just saw people going home watching the news and not looking at homes. They were grieving over New Orleans just as we did for the victims of 9-11. A year ago I was telling folks 90-120 days to sell. This year I started saying 60-90 yet I have 3 properties giving me the top end of that statistic and throwing my personal stats in the bucket! Weird thing is the high end & low end move fast. Mid market is lagging.

Activity seems to have changed a little, as ours is up from 4 weeks ago, but I still am sensing an early lull this year. We normally slow down at Thanksgiving through the Super Bowl. I think allot of folks have the gas price blues and do not want to commute as much as we have in the past. Our light rail project is a year from completion so we have to wait for that to fully come on line. However, the wise ones will move now! It is a great negotiating strategy to buy when the Sellers are desperate to get the deal done before winter!

Posted 9/8/05

Another Cutie for Sale
Take a look at this home in Littleton, Colorado 80127. 1444 square feet up, plus 1176 in the finished basement, a garden to die for and loads of charm. Gleaming hardwood floors, all in an easy commute to Denver, Highlands Ranch, or the Tech Center.

The address is 4876 South Nelson Street. and you can see it here . Posted 8/29/05

This is an amazing home! Walk to the park, or school and enjoy a quiet location too. Over 2800 square feet PLUS a finished basement. And take a look at the main floor bedroom suite! WOW!
Immaculate. Come enjoy the deck.

Posted 2/2/05

Pete Doty was recently featured in an article in REO Magazine about foreclosed homes and how lenders should protect their interest in pre-foreclosure actions.

Doty has been a real estate broker since 1985 and deals with foreclosed properties in the Highlands Ranch area, as well as in the cities of Littleton, Englewood, Centennial, Parker, Castle Rock, Parker as well as Denver Colorado.

"While our market is experiencing an upturn in the purchase of homes and there are fewer on the market, there are still some good deals to be had out there" Doty said.

Posted 1/26/05

So here is what I have been predicting for the Denver Real Estate market, and Highlands Ranch in particular...The Rocky Mountain News reported this morning that sales in January were up by 80% over the previous year! They do this based upon properties placed under contract in a given month, and they seem to be a little ahead of them selves (here is the link to the full story http://insidedenver.com/drmn/real_estate/article/0,1299,DRMN_414_3498433,00.html), but it certainly reflects what I am seeing in Highlands Ranch Colorado! Some buyers have "missed" as many as 4 homes in the past 4 weeks, thinking it is still a buyer's market.

These stats reflect what I have been watching: New Listings of single family dwellings down by 14.8% in 2004 and Sales are up about 10%. Or a 25% swing in the market. Also, the home builders have increased permits by over 23% for the 2005 year.

So, even though this may sound like a self serving comment, the real estate market in Highlands Ranch, Englewood, Littleton and Centennial are about to heat up and change very quickly in the near future. So now is the time to buy.

Posted 1/24/05

From a broker's perspective the real estate market in 2004 was a good one in Highlands Ranch, Colorado. The interesting thing is there are currently fewer than 500 homes for sale in Highlands Ranch. And yet the press will tell us the market is down. And there is a pressure downwards on prices. Which is a perfect time to Buy a home!

We work as much as buyers agents as we do as listing agents for the seller and we find the buyers do have an attitude about the market that says "We get a deal or we don't buy!" This can create a real dis-connect for the seller when entering the negotiation process.

In 2004 we had more properties sell in metro Denver than ever before, and since early last year, we have had fewer "new" listings of single family homes every month than the year before, signalling the change in the market where the prices are due to start climbing again. All this while we are absorbing a fairly high foreclosure inventory, something we have not seen since the late 1980s in the Highlands Ranch Real Estate market.