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6th Annual Stapleton Community Garage Sale

2011-06-01T17:07:00-07:00

It is almost here! Registration is underway for the sixth annual Stapleton Community Garage Sale. Sponsored exclusively by Diana and Michael Kearns, Realtors with RE/MAX of Cherry Creek in Denver, the sale is one of the largest community yard sales in Colorado and costs nothing for residents to participate. Over 300 homes are expected to participate this year, and as a result of the huge number of buyers and sellers the sale has expanded to two days - July 16 and 17, 2011. For more information, please visit the Stapleton Garage Sale website.

Proposed Denver Rec Center fee increase goes before City Council

2011-06-06T05:57:00-07:00

Denver's Parks and Recreation department has proposed a new 'tiered' structure for the City's recreation centers, which could result in membership fee increases of as much as 200%. The DPR proposal will be reviewed by Council's Land Use, Transportation & Infrastructure Committee on Tuesday June 7. Details of the proposal, and more information, are available here.

Denver's CHUN Capitol Hill People's Fair

2011-05-31T14:42:00-07:00

The Annual CHUN People's Fair, sponsored by the Capitol Hill United Neighborhoods, is this weekend, June 4 and 5, 2011 in Civic Center Park. The festival times are Saturday from 10am to 8pm and Sunday from 10am to 7pm. Admission is free! Celebrating its 40th anniversary in 2011 (and produced by CHUN since 1974), the People's Fair is a great example of urban diversity and neighborhood pride, as well as one of Colorado's largest Arts and Crafts Fairs with over 500 exhibitor and food booths and 250,000 attendees. For more information about the People's Fair and Capitol Hill United Neighbors, please visit their website. Capitol Hill is a vibrant residential neighborhood in Denver, Colorado. Learn more about Denver real estate and homes for sale in Capitol Hill.

Xcel Energy expands water heater rebates

2011-03-18T13:41:00-07:00

It's now easier than ever to qualify for a rebate on a new water heater. If the model you were considering wasn't eligible before, it may be now. As of January 1, 2011, Xcel Energy customers can now qualify for rebates for .62 and .64 EF water heaters, in addition to other models. Water heating is typically the second largest consumer of energy in your home after heating and cooling. With more rebates*, there's never been a better time to replace your old unit. Save when you buy, save when you use. With a new, more efficient model, you'll notice a sizable savings on your energy bills throughout the life of your equipment. To learn more about how you can reduce your cost of buying your energy-efficient unit and help save natural resources, visit xcelenergy.com. * Only units installed after January 1, 2011 qualify for the new rebate.

Denver's Mayoral Election

2011-04-27T08:30:00-07:00

Our friend Denver Councilman Michael Hancock is running for Mayor. Michael has been a great Councilman for Denver (representing northeast Denver) over the years. I've worked with Michael on a number of issues (economic development, parks and recreation, traffic, etc). Please make sure that you vote in the mayoral election. This is an all mail election, so please return your ballots ASAP - experts are predicting that only about 30% of ballots will be returned. As an added benefit, once your ballot is received it appears that the robo-calls from all candidates cease (it worked for me)! Second, Michael Hancock will be in Stapleton on Thursday evening, and I would love to have you join us to meet and speak with him. The event is at the home of Brian and Tamara Smith, 2602 Alton Street. It will be Thursday April 28 from 5:30 to 7:00 pm. There are suggested donations on the invitation, but I know that this is going to be a tight election and every donation is appreciated. If you can attend, please RSVP directly to Alexis Marsh at Alexis@HancockForDenver.com or 303.364.7735. If you're not available on Thursday (or you're just not into attending political events), I would encourage you to visit Michael's website at http://www.hancockfordenver.com/ or his Facebook page at http://www.facebook.com/pages/Hancock-for-Denver/133024146715314 to read more about Michael and his plans for the City. Yesterday he unveiled his plan for the first 100 days of his administration.

The fallacy of Median Home Prices

2011-04-21T06:00:00-07:00

This morning's Denver Post carried a front page headline titled, 'Tepid U.S. Forecast: Reports spawn housing concerns.' Throughout the article (which was mostly about national housing statistics), the author used Median Home Prices to illustrate their points about trends in home prices.But do most people understand what Median Home Price means? Read more...

PGA BMW Championship comes to Denver

2011-04-13T06:42:00-07:00

Guess John Elway was looking for something to do during the NFL lockout. The 2014 PGA Tour BMW Championship is moving from the Chicago area to Denver's Cherry Hills Country Club. John Elway, President of the Cherry Hills Country Club, former Broncos quarterback, and current team Executive Vice president of Football Operations ditched his Broncos orange and blue for a red blazer to make the announcement yesterday. The BMW Championship is part of the four-event FedEx Cup and will be held from September 4 to 7, 2014. The Cherry Hills Country Club also hosts the USGA's 2012 U.S.Amateur Championship.

New mortgage rules proposed by Federal Government

2011-04-11T05:55:00-07:00

By Kenneth R. Harney / The Nation’s Housing WASHINGTON — You may have seen reports that the federal government is proposing new mortgage finance rules under which only home purchasers who can afford a minimum 20 percent down payment on a conventional loan would get a shot at the best available interest rates and terms. That is correct, and it’s deeply sobering news for large numbers of first-time and moderate-income buyers who can’t come up with that much cash or afford to pay higher rates. But some of the other requirements that federal agencies and the Obama administration are proposing in the same plan have gotten much less attention, yet could prove just as troublesome for consumers: Strict mandatory debt-to-income limits. Under the proposal, to get the best mortgage rates, you’d need to spend no more than 28 percent of your gross monthly income on housing-related expenses, and you couldn’t have total monthly household debt that exceeds 36 percent of your income. There would be no flexibility to go beyond these ceilings, unlike in today’s marketplace where Fannie Mae and Freddie Mac consider debt-to-income ratios along with other factors through their electronic underwriting systems. Freddie Mac, for example, has an overall debt-ratio limit of 45 percent of an applicant’s stable monthly income. To refinance your existing mortgage and replace it with one carrying the best available interest rate, you’d need no less than a 25 percent equity stake in your house to qualify. If you sought to take any additional cash out through a refi, you’d need 30 percent equity. Today’s typical requirements for a conventional refi are nowhere near as strict. Pristine credit standards. For example, if you were 60 days late on any credit account during the previous 24 months, you’d be ineligible for a mortgage at the best available terms. These are all core features of what may be the most sweeping and controversial set of changes in decades for the housing and mortgage markets. The so-called “qualified residential mortgage” (QRM) proposals were released at the end of March by banking, securities and housing regulators, along with the Department of Housing and Urban Development. The agencies were required by the 2010 financial reform legislation to come up with new standards for low-risk conventional mortgages. Congress did not specify precisely what a “safe” mortgage should look like, but directed the agencies to consider such factors as full documentation of borrower income and assets plus avoidance of toxic features such as negative amortization and balloon payments.Congress was silent on the subject of minimum down payments. Under the law, loans that do not meet the strict QRM tests will be pushed into a less-favored, higher cost category: Banks and Wall Street securitizers will need to set aside 5 percent of loan balances into reserves to handle possible losses from defaults. This extra capital cost inevitably will be passed on to consumers. Mortgage industry estimates of the interest rate differential between ultra-safe, QRM-qualifying loans and all others range from three-quarters of 1 percent to three percentage points. In today’s market, this would mean that mortgages that meet the federal agencies’ stringent new standards might go for 5 percent. But all others -- the vast majority of today’s conventional loans -- could cost anywhere from just under 6 percent to 7 percent and higher. You can only muster a 10 percent down payment? Tough. You can’t quite fit into the tight confines of the QRM’s debt-to-income ratio rule? Pay up. Where and when will this all start hitting the marketplace? It won’t change anything much for a while. The proposals are out for public comment through June 10 and won’t likely be put into effect until mid-2012. The agencies’ proposal, though not the legislation, exempts mortgages sold to Fannie Mae and Freddie Mac from the rule as long as both remain under federal conservatorship - a date uncertain. FHA and VA mortgages will not be subject to QRM either. Meanwhile, builders, consumer groups, banks, realty agents and others are readying campaigns to convince the regulators and the Obama administration to back off some of their harshest provisions. Michael Calhoun, president of the Center for Responsible Lending, argues that if adopted in its current form, the proposal will make it much tougher for modest-income and minority consumers to ever afford a first home. Jerry Howard, CEO of the National Association of Home Builders, says the agencies and the administration have strayed far beyond Congress’ intent, and their proposals threaten to wreck any recovery in housing and force millions of Americans to rent rather than to own. “I think we’re in for a hell of a fight,” he says.

Get Ready for Spring Gardening

2011-04-09T06:24:00-07:00

RISMEDIA, April 9, 2011—Every season brings a different set of chores in the garden. Spring is an exciting time for gardeners as preparations are made for the bounty and beauty of the garden as it awakes from winter hibernation. It can also, however, be a bit overwhelming to know how to prioritize your gardening time at this time of year. Here is a helpful list of chores that should be tended to in the spring from Scott Reil at HelpfulGardener.com.PruningFor early blooming shrubs such as forsythia and viburnum, prune them as soon as blooms have passed. Early spring is also an ideal time to prune your roses.DeadheadingRemove spent flowers from bulbs, but leave the rest of the plant as is for the time being.WeedingPull weeds from your beds and borders before they have a chance to take hold and spread.CompostingTend to your compost if it has been neglected over the winter. If you do not have a compost bin, spring is a great time to start one.ToolsSpring is a good time to prepare your tools for the oncoming gardening season and to make any necessary repairs or new purchases. You will be happy you have done so when summer sets in.PlantSpring is a great time to add new plants to your garden. Be sure, however, that all threat of frost has past. Plant such things as trees, shrubs, hardy annuals, and summer blooming bulbs. Fertilize & MulchFertilize and mulch beds and borders. Spring is also a good time to fertilize fruit trees. If you applied heavy winter mulch for protection from the cold, you will need to clear it away.StakingStake plants that may be prone to wind damage during the unpredictable spring weather.Lawn CareSpring is the best time to start a new lawn from seed. For established lawns, you should start mowing in the spring, but don’t initially cut the grass very short for the first few times.Of course, whether you start these chores in early, mid, or late spring depends on the climate where you live, taking in to account such factors as when the threat of frost has past or when the ground is thawed enough to dig. I hope these tips will give you a good idea as to where to focus your attention in your garden this spring. Enjoy!For more information, visit http://www.helpfulgardener.com/tips/03/spring.html.

Homes Built for Efficiency

2011-03-29T07:03:00-07:00

From Xcel Energy Having been in the housing industry, both Susan and Phil Shirley are pretty darn knowledgeable about energy efficient homes. So, when they purchased their ENERGY STAR® home in Longmont, Colo., they knew that it would meet their standards for building construction, efficiency, and energy savings. 'We're quite pleased with this home, which is important because we both have home offices here,' says Susan. 'During the coldest days this winter we were able to keep our home warm on $6 a day, which we feel is very affordable for a 2,500 square foot home.' ENERGY STAR® qualified homes are typically 15 to 30 percent more efficient than standard homes built to local code and use substantially less energy for heating, cooling and water heating, delivering up to $500 to $700 in annual savings over standard homes. A Good Move for You and for the Environment Move into one of these homes, and not only will you be saving big bucks, you will be making a choice that positively impacts the environment. For example, did you know that one ENERGY STAR® qualified new home can keep 4,500 pounds of greenhouse gases out of the air each year?* Xcel Energy partners with third parties to provide training consultation, diagnostics testing and ENERGY STAR® Certification for builders. This free program helps builders construct homes that surpass all others in terms of comfort, energy efficiency, moisture control, air quality and durability. Energy Efficiency from Floor to Ceiling Xcel Energy works together with partners to ensure the homes are ENERGY STAR® qualified. Typically these homes include the following: Effective Insulation -- Properly installed and inspected insulation in floors, walls, and attics ensures even temperatures throughout the house, reduced energy use, and increased comfort. High-Performance Windows -- Energy-efficient windows employ advanced technologies, such as protective coatings and improved frames, to help keep heat in during winter and out during summer. Tight Construction and Ducts -- Sealing holes and cracks in the home's exterior and in heating and cooling duct systems helps reduce drafts, moisture, dust, pollen, and noise. Efficient Heating and Cooling Equipment -- In addition to using less energy to operate, energy-efficient heating and cooling systems can be quieter, reduce indoor humidity, and improve the overall comfort of the home. Efficient Products -- ENERGY STAR® qualified homes may also be equipped with ENERGY STAR® qualified products --lighting fixtures, compact fluorescent bulbs, ventilation fans, and appliances. Third-Party Verification -- With the help of independent Home Energy Raters, ENERGY STAR® builder partners choose the most appropriate energy-saving features for their homes. Additionally, raters conduct onsite testing and inspections to verify energy efficiency measures. There's an ENERGY STAR® Home Near You I know your next thought is -- how do I qualify? Your new home must be located in a community within Xcel Energy's residential natural gas service territory in Colorado. Since the inception of the program through Jan 2011, Xcel Energy has worked with Colorado home builders to construct 4,841 energy efficient houses that have qualified as ENERGY STAR® Homes. Green Home Building in Stapleton Since 2006, all new homes built in Stapleton are required to meet ENERGY STAR® standards. Prior to 2006, new homes in Stapleton were required to meet the standards of Built Green Colorado. Thanks to this commitment to energy efficiency, HGTV chose to build the 2011 HGTV Green Home in Stapleton.

Open Houses in Denver this Weekend

2011-03-25T04:45:00-07:00

Come visit these great homes this wekeend at their Open Houses! Saturday, March 26, 1:00 - 3:00 pm 796 Kearney Street, Denver CO 80220 (Montclair) 7729 E 25th Avenue, Denver CO 80238 (Stapleton) Sunday, March 27, 2:00 - 4:00 pm 9065 E 28th Ave, Denver CO 80238 (Stapleton) For more information on upcoming real estate open houses in Denver, please visit our Denver Open House Schedule page.

FHA Mortgage changes coming in April could cost you!

2011-03-21T05:35:00-07:00

Just a quick reminder that changes are coming to FHA mortgage programs in April 2011. Increases in FHA mortgage insurance could cost you $50 or more EVERY MONTH! Read more to understand how you can avoid these additional costs - there's still time to buy a new home and beat the FHA deadline.

Denver Public Schools Update - March 22, 2011

2011-03-22T07:22:00-07:00

Received today from Tob Boasberg, Denver Public Schools Superintendent: Staying Strong through the Funding Crunch Dear DPS Community: I wanted to take this opportunity to update you on our budget outlook for next year, in light of recent news on the state’s budget outlook and its impact on area school districts. It is very true that public education throughout the state of Colorado is facing extraordinary budget challenges. You have probably heard about how many Front Range school districts are planning on layoffs, furlough days for teachers, charges for transportation and increased class sizes. We, however, are fortunate that we are not cutting school budgets for next year or raising class sizes across the board. And, we are not planning any furloughs or layoffs or increased charges for services like transportation. We will, in fact, have more teaching positions in the Denver Public Schools next year than this year. The Governor’s updated state revenue forecast last Friday, moreover, provided—at long last—some hints of a recovering economy. If the Governor and legislature are able to reduce the $35 million of state revenue cuts currently planned for DPS, it’s possible that we might be able actually to increase modestly our funding for schools next year. We will know more on this by the end of April. To deal with the $35 million in cuts the state is considering for DPS, we are currently planning to absorb all of that reduction in funding through cuts to centrally funded programs and the use of pension finance savings in order to keep the cuts away from schools. We have also been helped by the fact that in the last two years, we have been able to attract more than $80 million in multi-year competitive grant funding from both foundation and government sources, which is helping drive our key reforms around educator effectiveness and support for English language learners. As you know, we have made very difficult decisions for the past several years on salary increases and program cuts at the district level to help us weather the economic storm. We are cutting $10 million in centrally funded services for next year in order to maximize the dollars going into classrooms. Our very clear priority is to keep the impact of funding cuts as far from the classroom as possible and to keep the dollars and spending decisions as close to kids as we can. As evidence of that commitment, we currently spend about 95% of our budget in our schools, with the remaining 5% spent on central costs. To further offset the funding shortfall from the state and keep cuts from schools, we’re also planning to use about $15 million of savings from our 2008 pension financing next year. As an update on our pension financing, the Board of Education last week unanimously approved a plan to convert half of the $750 million in pension bonds from the 2008 financing to a fixed interest rate. This helps provide more certainty on financing costs, while also continuing to save the district millions of dollars annually over the pension structure in place prior to our merger with the Public Employee Retirement Association of Colorado. As a result of these savings and efficiencies, we have been able to avoid the severe budget cuts that other local districts are facing. Nevertheless, the recession has hit all segments of the community hard. Our schools have certainly not been spared, and I sincerely appreciate the sacrifice and extra work of our teachers, principals, and support staff in helping us protect the classroom from the impact of funding cuts. Going forward, it’s clear that there is a strong need for all of us—teachers, parents, students, community members, and business leaders—to come together and have a community conversation about the impact that continual funding cuts have on our city and our state. We cannot continue this cycle of cuts and more cuts. As a community, we need to make a significantly higher investment in our schools Thank you for your involvement and interest in our schools, and we will continue to update you as the state’s budget is finalized Best, Tom For more information, contact the DPS Communication Office at (720) 423-3414 or e-mail communications_office@dpsk12.org.

Fannie Mae says economy is expanding

2011-02-28T10:16:00-07:00

RISMEDIA, February 28, 2011—Continued improvements in economic activity driven by strong growth in consumer spending are moving the economy beyond the recovery phase and into a period of expansion, according to the February 2011 Economic Outlook released by Fannie Mae's Economics & Mortgage Market Analysis Group. For 2011, economic growth is projected to accelerate to 3.7%, up from 2.8% economic growth in 2010. Housing has yet to see robust movement, but the excess supply of housing appears to have peaked. In addition, the rental vacancy rate fell, indicating the excess supply of housing is being worked off slowly—a trend necessary for housing to return to stability. 'We have confidence that the economy is on stronger legs with a sustainable growth path. Our projected annual growth rate for 2011 is nearly a full percent higher than the annual growth rate for 2010, which is a significant event,' said Fannie Mae Chief Economist Doug Duncan. 'Economic cross currents such as the lack of sustained strong job growth, state and local fiscal issues and geo-political uncertainty in the Middle East present downside risks. Nevertheless, the positives outweigh the negatives.'For more information, visit www.fanniemae.com.

Xcel Energy reduces solar energy incentives

2011-02-21T06:30:00-07:00

Last week, Xcel Energy announced further reductions in the incentives it offers customers to install solar power systems, and requested that the Colorado PUC approve even further reductions. According to the Denver Post, 'The combined incentive and rebate drops from $2.35 per watt to $2.01, effective immediately, based on Xcel's change for residential- scale systems that range from 0.5 to 10 kilowatts. Larger systems will incur similar reductions.' Reports from the Post and from the Colorado Solar Energy Industries Association (COSEIA) claim that the additional reductions requested by Xcel would reduce the incentives to either $.025 or $1.25 per watt. Additional news reports indicate that this action by Xcel could result in the loss of 2,500 - 3,000 jobs in the solar industry. COSEIA has announced a rally at the Colorado State Capitol (West Steps) scheduled for Friday February 25th at 12pm.

Get in while the Getting's Good - Why Buyers and Sellers Should Take Advantage of Today's Real Estate Market

2011-02-17T05:05:00-07:00

RISMEDIA, February 16, 2011—The Case-Shiller Index is one of the country’s most popular ways of measuring the movement of home prices. And in its latest rating, which went out in late December, the verdict was: Prices are down. The Case-Shiller report’s 20-City Composite rating was 0.8% lower than it was one year previously; the first year-on-year decrease since October 2009. When Case-Shiller numbers come out, they have a lag time of several months—the batch released in December covers through October. Since then, a lot of positive things have happened. For one, strong consumer holiday-shopping showings boosted big retailers across the country, making it the best shopping season in years. A rising stock market and tax-cut extension has also made folks a little less nervous to open their wallets. And, while unemployment is still a problem, there is some good jobs news as well—initial jobless claims fell to 388,000 for the week ending Dec. 25, down from 422,000 in the prior week (the first time it’s gone below 400,000 since July 2008). It’s because of reasons like this—increased consumer confidence and slight lessening of fear—that you shouldn’t count on home prices dropping more. Part of it is psychological: If people see the financial and retail markets go up, signaling that the bottom in this particular financial cycle has been reached and things are moving upward, that creates more interest in buying big-ticket items, like homes. It’s normal for a buyer to start rationalizing things this way: If the economy’s starting to improve, this house is going to wind up costing much more at some point. I’d better get in the door now, so I don’t miss the boat.Despite initial jobless claims numbers, a high number of foreclosures, a crowded inventory landscape and mortgage rates could, ironically, be a sign to buy. For instance, when interest rates go up uniformly over time as they have been, people develop a bite-the-bullet mentality, thinking: “I’d better buy now even though they’re high, because it doesn’t seem like they’re going down any time soon.” This mentality—of getting in before things move up—is something to think about if you’ve been considering selling. Get your home prepared to sell by having a professional home inspection and fixing major problems that could be impediments to buyer interest. And for buyers: Buying a home is an individual process with many factors at play, so it’s impossible to say that it’s the ideal time for everyone to buy. But for many buyers, a simple saying may very well hold true: Get in while the getting’s good.

2011 Colorado Rockies Schedule with Promotions Dates

2011-02-15T07:04:00-07:00

Okay, so I spent an hour searching for a 2011 Colorado Rockies schedule that includes the promotional dates. I was looking for the Rockies Fireworks games, Rockies Fan Appreciation Day, etc. Funny enough, the Rockies don't have this info posted on their own website! But, the Rockies DID have the pocket schedule available at Coors Field, so I ran down and picked one up. Now I'm sharing, so you too can know when they are giving away the Tulo Bobblehead! Note that the schedule is still subject to change - they have already moved a few game times from what shows on the printed schedule.

Colorado Colfax Marathon Announces Colfax 5k Race

2011-02-14T09:43:00-07:00

The Colfax Marathon today announced a new event: The Colfax 5k! We’re rounding out a whole weekend of fun and festivities! We’re adding The Colfax 5K race on Saturday, May 14. Why? We want to give everyone a chance to compete! It’s a timed event for adults and kids – with a 3K shortcut for those looking for shorter distances. A portion of the proceeds for this race will go to the Denver Post Community Foundation, which supports Denver area nonprofits in the areas of basic human services, youth, literacy, and the arts. The Colfax 5k will start and finish in Denver's City Park, just east of Ferril Lake (behind the Denver Museum of Nature and Science). Start time is 9:00 am. For more information, visit the Colorado Colfax Marathon website.

2011 Economic and Employment Forecast - impact on the housing market

2011-02-01T12:04:00-07:00

What Should You Expect in 2011, Part 1 Forecasts for the Economy and Employment – Their Impact on the Housing Market (Courtesy of YOU Magazine) The economy and housing markets have seen some rough times the last couple of years. But the good news is last year we saw some stabilization in 2010 – and 2011 should continue on the road to recovery. To help you prepare for the coming year, YOU Magazine has put together a two-part overview of what to look for in 2011. In part one, we look at the big picture and discuss the outlook for the overall economy, the stock market, and the all-important employment market. In part 2, we'll dig into what to look for in terms of the housing market, including home prices, the foreclosure crisis, new legislation that impacts the housing industry, and the direction of home loan rates in 2011. Economic Outlook Overall, the economy looks to have stabilized from the crisis situation a couple of years ago. Although there are still some global economic concerns in Europe, the U.S. economy appears positioned for continued growth and strengthening. We see the United States' Gross Domestic Product (GDP) to finish the year up about 2.5% to 3% from where it ended 2010. This growth won't happen overnight, however, but instead will start out slow in the first half of the year and pickup steam in the second half. Much of that growth should come from demand in other countries. Currently, the U.S. only derives about 12% of its GDP from exports. While that equates to a lot of money, it means that the U.S. relies less on exports than many other countries – and it means that there's room to grow. Already we've seen U.S. exports get back on track and they're primed for growth to countries in places like Asia and Latin America. This is good news for the U.S. economy as a whole, as well as individuals because it sets the stage for growth while still allowing U.S. consumers to catch their breath. After all, the tough economic climate over the last couple of years has hit U.S. consumers hard and has forced many Americans to reprioritize their family budgets to focus more on their savings. Stocks Make Their Mark The stock market had a good year and saw some strong earnings in 2010, continuing its climb out of the financial crisis that began a couple of years ago. With the strong finish to last year, the stage is set for another good year – and we could see the S&P 500 grow another 7% to 10% over the next twelve months. That said, the corporate earnings may look like they've slowed. That's because of the way that experts compare year-over-year earnings. For example, corporate earnings showed strong improvement coming out of the recession because they were compared to the extreme lows of the year before. However after a strong 2010, the increase in earnings won't be nearly as dramatic. So while the year-over-year increase may appear to flatten out, the important thing to focus on is that corporate earnings should show solid, steady improvement. The segments of the market that can look for a strong showing in 2011 include energy stocks, global companies that specialize in high-tech equipment, and even steel producers which should benefit from global sales. Those segments should benefit from strong business spending around the world as the economy improves and companies start to reinvest and expand. Labor Looks Ahead The big economic picture is important, but millions of Americans are really focused on the labor market. Will they find a job? Will they keep their job? Those are some of the most important questions families face. And the good news is that for many families the outlook should be better in 2011. Here's why. The good news for the overall economy and for corporate earnings in 2010 and heading into 2011 should help the labor market improve. Let's look at two of the factors that should influence employment in the coming months. First, many companies have seen higher earnings over the last year but those earnings haven't translated into more hiring. Instead, companies have been cautiously waiting for signs that the economy was stable – after all, we heard a lot of talk in the past about the possibility of a double-dip recession. In other words, full-time employment was held back by insecurity and fears of the future. Now that most economic reports appear to be on a steady climb out of the recession and confidence is increasing, many companies will be more willing to hire. Second, during the last couple of years, companies were trying to keep their operations lean and efficient. That means that manufacturing companies worked hard to get the highest level of production possible out of their current work forces or by only hiring temporary or part-time employees. While that may have been a good move when the economy was questionable, it means that production has hit a ceiling. But now that many retail companies are beginning to restock their shelves, manufacturing companies are seeing higher demand for their products. In order to satisfy that demand and increase manufacturing production, companies will need more people on the factory floor to satisfy demand, which will lead to an uptick in full-time employment. Based on those factors, watch for the labor market to continue looking better in the coming months, with more noticeable improvements coming in the latter part of the year. Unfortunately, we're not completely out of the woods yet in terms of the overall unemployment rate. While hiring will pick up, we need to see a net growth of 200,000 jobs each month just to absorb all of the new people entering the job market – and that's just to hold steady, so we'll need to see even better numbers for the unemployment rate to actually drop. Based on that, we won't see a noticeable drop in the unemployment rate until some time in 2012…and even then it will take a handful of years to bring us back to the lower unemployment rates seen before the recession. The point is the job market is a work in progress and will take some time, but we will see hiring improve in the coming months – and that should help ease the burden for millions of Americans. What Does All That Mean to Housing and Home Loan Rates? Although people tend to talk about the economy, the stock market, and employment separately in the news, the reality is they're all related. For example, an improving economy leads to better corporate earnings and increased manufacturing demand, which in turn leads to increased hiring. In addition, all of the aspects discussed above influence the housing market and home loan rates. One of the biggest influences is employment, so improvements in employment will be good for the housing industry. After all, people who are unemployed, under-employed, or are afraid of losing their jobs are less likely to purchase a new home. In terms of home prices, a more secure employment market can help home prices stabilize, as fewer people are at risk of losing their homes to foreclosure. In addition, as we'll discuss next month, the improvements in the labor market should open the door for more first-time homebuyers to join the ranks of homeowners. That said, it's important to remember that all real estate markets are local…and that means that there can be enormous variations across the country. In areas where employment is struggling, the housing market will continue to struggle as well. However, in many parts of the country where the bottom has been tested and employment is improving, we'll see the housing market on the mend in 2011. But home prices and homebuyers aren't the only aspects of the housing market impacted by the direction of the economy. As stated above, 2011 should look better than 2010 in many respects. But, good economic news is a double-edged sword, as it can lead to higher rates. That's right, good economic news can be bad news for home loans rates. There's actually a pretty simple explanation for this seemingly strange phenomenon. But, you first need to understand two important financial concepts: Big money managers – who are always in search of higher returns – avoid holding onto cash. So they invest in both Stocks and Bonds. Home loan rates are actually based on the performance of Mortgage Backed Securities (MBS), which are a type of Bond. When we put those two facts together, we begin to understand the relationship between good economic news and higher home loan rates. Here's why: Whenever the economy is on fire and there are good economic reports along with positive economic news, investors tend to put more money into Stocks. That's because Stocks are more risky, but they generally offer higher returns. To do this, however, investors must remove some of their money from less-risky Bonds. This decreased demand in Bonds causes Bond prices to worsen, which causes home loan rates to rise. YOU Magazine will dig into the forecast for the housing market and home loan rates more in Part 2 of this article. But for now, the important thing to note is that home loan rates have gradually been rising and that trend looks to continue in 2011. The good news is that home loan rates are still extremely attractive and are still near historic lows…for now. So, if you or someone you know has been thinking about purchasing or refinancing a home, now is the time to get started as we head into 2011.

Real estate sales rebound in 2011, prices nearly flat

2011-01-29T19:34:00-07:00

NAR forecast anticipates quicker recovery for new homes By Inman News January 27, 2011 In its latest real estate and economic forecast, the National Association of REALTORS® anticipates that sales of existing homes, after falling 4.8 percent in 2010, will rise 7.9 percent this year, to 5.3 million, and another 4.5 percent in 2012, to 5.53 million. The median price of existing homes, meanwhile, rose 0.3 percent in 2010 after a 12.9 percent drop in 2009, and is expected to rise 0.5 percent this year, to $173,800, and another 2.4 percent in 2012, to $177,900. Sales of new single-family homes are expected to rebound faster, rising 17.7 percent this year, to 374,000 sales, after a 15.5 percent drop in 2010, and then rising 51.1 percent in 2012, to 565,000 sales. In an earlier forecast, released last month, NAR anticipated that sales of new single-family homes would climb 20.8 percent in 2011 and 30.9 percent in 2012. The new-home median price rose 2.2 percent in 2010 and is expected to climb 1.8 percent this year, to $224,700, and 1.9 percent in 2012, to $229,000. NAR expects that 30-year-fixed mortgage rates will average 5.1 percent this year, up from 4.7 percent in 2010, and rise to 5.9 percent in 2012. The group also forecasts the U.S. unemployment rate to fall from 9.7 percent in 2010 to 9.4 percent this year and 8.7 percent in 2012, while U.S. real gross domestic product is expected to dip from 2.8 percent in 2010 to 2.6 percent this year, rising to 3.2 percent in 2012. Also today, NAR reported a 2 percent month-to-month rise in December for its index tracking pending sales of existing homes, though the index was down -4.2 percent compared to December 2009. The Pending Home Sales Index tracks homes for which a sales contract has been signed but the transaction has not yet closed. Typically, a sale is finalized within one to two months of signing, so the index is considered a leading indicator. Regionally, the index fell 10.7 percent in the West, 5.3 percent in the Northeast and 5.1 percent in the Midwest while rising 1.7 percent in the South in December 2010 compared to December 2009. And the index dropped 13.2 percent in the West while rising 11.5 percent in the South, 8 percent in the Midwest, and 1.8 percent in the Northeast from November 2010 to December 2010, NAR reported. Lawrence Yun, NAR's chief economist, said in a statement, 'Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions. Mortgage rates should rise only modestly in the months ahead, so we'll continue to see a favorable environment for buyers with good credit.' NAR reported last week that the sales rate for existing homes rose about 12.3 percent from November 2010 to December 2010, but fell 2.9 percent compared to December 2009. The median price of existing homes dropped about 1 percent year-over-year in December, to $168,800. Sales of new single-family homes were up an estimated 17.5 percent from November 2010 to December 2010 and fell about 7.6 percent year-over-year in December, the U.S. Census Bureau and Housing and Urban Development Department reported Wednesday. The median price rose about 8.5 percent year-over-year in December, to $241,500.

Easy Denver MLS Search - even on your iPhone or mobile device

2011-01-31T05:47:00-07:00

With companies creating apps for just about everything, we thought we would let you know that the Denver MLS idx search on www.Denver-HomesOnline.com works pretty well on mobile devices without an app. The website is pretty new, and we're going to continue to upgrade and improve, and we're looking at creating a special search page just for mobile devices. In the meantime, check out our search page on your iPhone or Android device, and let us know how it works, or try the QuickSearch feature on our sister-site, www.BuildingStapleton.com.

Something Old, Something New

2011-01-28T15:37:00-07:00

Almost 6 years ago, in March 2005, we launched the original www.BuildingStapleton.com website. It was built from scratch, with no knowledge of HTML, and has grown over the years to be Denver's leading neighborhood real estate website. The greatest compliment we received about the original website was that it was about providing information first, and selling homes second. Today, with a mixture of excitement and a bit of sadness, we are excited to launch the new www.BuildingStapleton.com website. We've spent nearly a year in development, talking to clients and building a denver real estate website that is designed to provide the public with the tools you need to reach your real estate goals. When the site officially launches later this evening, you will find: Advanced Home Search Tools using Denver's MLS idx Stapleton Community News Buyer and Seller Tools and TipsStapleton Builder Info and Floorplans What's My Home Worth? FREE Market Analysis Rental Home Information Open House Schedule Live Chat We're excited about the new www.BuildingStapleton.com website, and we hope that it will meet all of your Denver Real Estate needs!

2011 National Western Stock Show

2011-01-07T14:34:00-07:00

Celebrating its 105th Anniversary in 2011, the National Western Stock Show (NWSS) will be held in Denver from January 8 - 23. In addition to being a Denver tradition and a great event for the entire family, the National Western Stock Show provides college and advanced degree scholarships in agriculture and medicine for practice in rural areas. The 16-day show also hosts one of the world’s richest regular season professional rodeos, largest horse show and Colorado’s largest tradeshow. Over 700,000 adults and children are expected in 2011 to view more than 15,000 head of horses, cattle, sheep, swine, goats, llamas, alpacas, bison, yak, poultry and rabbits step foot on the grounds of the National Western Stock Show each year. By the way, don't miss the Stock Show Parade through Denver and the arrival of the 2011 NWSS Grand Champion Steer at the luxury Brown Palace Hotel! READ MORE about the 2011National Western Stock Show.

FSBO - Thinking of Selling your Home without an Agent?

2011-01-02T14:13:00-07:00

Happy New Year! Once the holidays are over, many homeowners start thinking about buying or selling a new home in the new year. Many homeowners believe they can sell their own home without the representation of a licensed real estate professional. We've all heard the term 'For Sale By Owner' (FSBO), but aren't all homes sold by the owner? We believe that a better term is 'Unrepresented Seller.' While some are successful, for most people being unrepresented isn't their best option. LEARN MORE...

Don't wait - low mortgage rates won't last!

2010-12-10T09:25:00-07:00

Today's Denver Post included an article titled "Is the door closing? After reaching record low, mortgage rates rising fast." After years of incredibly low mortgage interest rates, are we seeing a sustained rise in rates? When I purchased by first home in the late 1980s, the rate was 12%. My wife's first home purchase carried an adjustable rate in the upper teens. To most of today's buyers those numbers are hard to believe, as they have gotten used to rates in the 4 - 5% range. We recently had a client who purchased a brand new home with a 30-year fixed rate mortgage of just 3.875%! Even with recent increases (nearly a half point in the last month) mortgage interest rates are still historically low, and combined with lower home prices the "affordability" of home ownership is better than ever. According to the Post's article, rates have climbed from 4.17% on November 11 to 4.61% on December 9. Looking at that increase in terms of real world impact, for a $400,000 purchase with 20% down, this would increase your payment by about $83 per month ($996 annually). Alternatively, without changing your payment, the mortgage rate increase would decrease your purchase price from $400,000 to $380,000. I heard another agent recently tell a group that, "when you wait for the bottom of the market, you usually get the bottom of the barrel." Trying to time the bottom of the mortgage market is incredibly difficult, if not impossible. If you are in the market for a new home, now is a great time to look. Don't wait too long, or you may get shut out!

Gov Ritter Proposes $19.1 billion Budget for Colorado

2010-11-03T11:38:00-07:00

As Colorado voters went to the polls Tuesday to elect his successor, outgoing Governor Bill Ritter proposed a $19.1 billion budget for 2011 The proposed budget includes a combination of overall spending cuts and investments in education, economic development, health care and transportation. "We said we were going to try to hold the line there. We've made good on our promise," the governor said. "Our economy is still at a place where the upturn is happening ... For that reason, it is important to do all you can to assist businesses and the business world." According to the Denver Busines Journal, "The final budget proposed by the Democrat, who is not seeking another term in office, adds funding to ramp up oversight of banks and financial advisors and adds a small amount of money for K-12 education. However, it reduces tourism marketing funding by roughly 30 percent and continues the three-year suspension of a 3.3 percent fee paid to vendors for collecting sales tax revenues." For more information on the proposed budget, please visit the Denver Business Journal.

How is the Denver Real Estate Market?

2010-11-01T13:00:00-07:00

A client emailed me today to ask for an update on the Denver Real Estate Market (specifically on Stapleton) in light of a CNN.com report predicting "another 8% decline" in U.S. home prices. Okay, so I tend to get worked up about national media reports that try to paint every real estate market with a single broad brush. There is no such thing as a "national" real estate market - it is all local, and in many cases real estate markets change at a micro (neighborhood) level. If you want to buy a Shelby Cobra, there is (for the most part) a national market - if you find the car you want in Boston you can load it on a trailer and bring it home to Denver. This is not the same for housing. Yes, you can load a house on a trailer and move it across the country, but a lot of other factors come into play when you do so! Since I usually trust my own instincts and experiences over media reports from somewhere else, I thought I would do a little digging. I checked out the CNN.com story and the first thing that struck me was that for an article titled, Home prices expected to slide another 8%," it was interesting that they would use a graphic which shows home prices rising overall for 2010! The CNN article (like most real estate "market" reports) relies on the Case Shiller index for its stats. There are a lot of people in real estate who question the validity of the conclusions from the Case-Shiller index. In some cases these are people using residential stats to judge the condo market in NYC. In others it is the result of the broad "markets" that the Index reports on, or the mix of markets that Case Shiller uses in it's top 20. For "Denver," Case Shiller defines uses the US Census’ “Denver-Aurora-Broomfield MSA” which includes the entire City and County of Denver, along with portions of 9 other counties. According to the Census Bureau, in 2007 just over half of everyone in Colorado lived in this MSA and less than 25% of the people in the MSA actually lived in Denver. The Index also tends to overplay movement in the market, up or down, based on results in certain metropolitan areas. When the market was booming in SoCal, Las Vegas, Phoenix, etc., I had clients asking why Denver wasn’t following suit. Today the results in the Index tend to overplay the reality in many areas. According to Case Shiller’s report, Denver home prices overall are down 1.2% from August 2009 to August 2010. The next question from my client relied on RealtyTrac's website, and its "statistics" ion foreclosures. Just as I make money when people buy and sell homes (so I may tend to be more optimistic), RealtyTrac makes its money selling subscriptions to users so that folks can search for foreclosures. According to their website, there are 4,371 properties in the 80238 zip code, which sounds about right. Then their site says there are 779 “Bank Owned” properties. When you click on the details, however, only 25 are in the 80238 zip code. Then looking at those 25 properties, I know of 6 that are commercial and 8 more are more than a year old. Based on information from the Stapleton MCA, there have been, "a handfull... maybe 6 or 7 foreclosures" in Stapleton so far this year. While this is a huge number if you are one of the affected homeowners, overall it is a miniscule percentage of the 4,000+ homes in the community. Finally I also looked for stats in Metrolist (the Denver MLS), to make sure I am not off base. In 2009, there were 158 residential homes sold in Stapleton between Jan 1 and Nov 1. This probably doesn’t count new construction very well (they rarely report to MLS), but should be pretty good for detached resales. For the same period in 2010, there have been 168 sales. In 2009, the avg days on market for sold homes was 121 days; for 2010 it is 119. In 2009 the avg sold price per sq ft was $208; in 2010 it is $202. Avg price per finished square foot (which takes into account finished basements) is down from $188 to $185. All told, there were $73.1 million in resales in 2009 from Jan – Nov 1 and $71.7 million so far in 2010. All in all, that’s a pretty stable market here.

Welcome to Denver-HomesOnline.com!

2010-10-21T14:57:00-07:00

Diana and Michael Kearns, The Kearns Team at RE/MAX Alliance in Denver, CO, today re-launched their Denver real estate website at www.Denver-HomesOnline.com. Completely redesigned by Sierra Interactive, a leading MLS website provider based in Louisville, KY, the new www.Denver-HomesOnline.com website was built to provide state of the art MLS idx search tools to visitors. The new website avoids Flash and other limiting website technologies to allow access to users from a variety of devices, including iPhone, BlackBerry, and Android-based mobile devices.

Colorado Among Top States Where Americans Want to Live

2010-10-19T14:15:00-07:00

In an annual survey by The Harris Poll, Amercans named Colorado No. 4 among states where they would most like to live, trailing California, Hawaii and Florida. The survey, released today, was conducted Sept. 14-20. Colorado has placed in the top-five states in the survey in 11 of the past 12 years. California has finished first every year since 2002. The survey of 2,620 U.S. adults allowed respondents to pick any state, except the state they currently live in.

One More Week: Rock 'n' Roll Denver Marathon

2010-10-10T16:06:00-07:00

Next Sunday, more than 15,000 runners are expected to run in the Rock 'n' Roll Denver Marathon, half marathon, and ING Rock 'n' Roll Relay. The sold out event, formerly known as the Denver Marathon, was added this year to the Rock ‘n’ Roll Marathon Series. Other races in the series are held in Arizona, Chicago, Dallas, Las Vegas, Los Angeles, Nashville, New Orleans, Philadelphia, San Antonio, San Diego, San Jose, Seattle, and Virginia Beach. The race course begins in front of the State Capitol, and travels past many of Denver’s major landmarks including the Denver Public Library, Art Museum, Larimer Square, the Pepsi Center, Union Station and Coors Field, as well as City, Cheesman and Washington Parks. The course has little to no elevation change and is certified by USA Track & Field as a qualifier for the Boston Marathon. “Denver is an outstanding destination to run a marathon and we are excited to offer runners a flat, scenic course set against the backdrop of the breathtaking Rocky Mountains that give Colorado its gorgeous panoramas,” said Peter Englehart, President and CEO of Competitor Group, Inc. “The Rock ‘n’ Roll format will help this event increase its visibility on a national scale and attract participants from across the U.S. and abroad.” As part of the weeknd's events, a Health & Fitness Expo will take place on October 15 and 16, 2010 at the Denver Convention Center, Exhibit Hall E. Hours are Friday, October 15 from noon to 7pm and Saturday, October 16 from 9am to 5pm. The Expo is free and open to the public. If you missed out on this year's registration, mark your calendar for next year. The next Rock ‘n’ Roll Denver Marathon will be held on October 16, 2011.

Stapleton's 80 acre Central Park

2010-09-26T15:19:00-07:00

Opened in 2007, the 80-acre Stapleton Central Park is one of the newest jewels in Denver's expansive park system. Central Park is located on the north side of Martin Luther King Blvd, just east of the former airport's control tower. On its eastern edge, just across Westerly Creek, is the new Central Park Recreation Center. Designed with a great deal of input from the community (including Stapleton residents and folks from throughout northeast Denver), Central Park offers something for just about everyone: The playground Purple mountains and blue river streams (made out of fall-cushioning rubber) mark the playground at Central park's south edge. There are swings and other playground equipment for the kids and a sandbox with scaled-down play areas for the littler ones. For the older kids there are climbing rocks, 8 to 12 feet tall (and even a slide down inside one rock). The fountain In the middle of the park's entrance is an interactive fountain, next to the concessionaire building and in front of the grass filled amphitheater. The sledding hill On the north side of the park is a hill designed especially for sledding. The trees are all on the south side (where the snow melts first) and the north side is an open field with a gradual slope. By the way, this picturesque spot is just across from the site of HGTV's 2011 Green Home. The rest of the park There's a lot more that fills Central park's 80 acres, including grass fields ready for soccer, Frisbee, or a game of catch; a man-made boat lake (for the radio-controlled type of craft); picnic pavilions, trails, shade structures, and more!

Forbes Names Colorado #4 Best State for Business

2010-10-14T08:38:00-07:00

Citing such factors as Quality of Life, Economic Climate, Growth Prospects, and Labor Supply, Forbes Magazine has once again named Colorado among the Best States for Business and Careers. Colorado ranked 4th on Forbes 2010 list, holding its ranking from 2009. According to Forbes, "Our Best States ranking measures six vital categories for businesses: costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. We factor in 33 points of data to determine the ranks in the six main areas. Business costs, which include labor, energy and taxes, are weighted the most heavily." Forbes rates Colorado No. 1 among the states this year on labor supply, No. 6 on growth prospects, also No. 6 on economic climate, and No. 9 on quality of life.

Easy Steps to Save Money on Energy

2010-10-15T08:55:00-07:00

Courtesy of Xcel Energy, here are some tips to help you reduce your energy usage and start saving money now! Steps That Won't Cost You a Thing Tighten up doors, windows - if doors and windows don't close completely, they can let cooled or heated air escape, or they can let in winter cold and summer heat. Tightening up may be all that's needed. Shade your windows - adjust shades and blinds, or install window film to control the sun's heat. Utilize natural light - open up shades and blinds and turn off lights in rooms that are well lit by the sun. You can also turn off lights in unoccupied areas. Adjust your thermostat - just a few degrees' change in temperature levels can make a small difference in level of comfort but a big difference in the amount of energy used. We recommend: Cooling Season, 76-78 degrees; Heating Season, 66-68 degrees. Turning the temperature down on your water heater to 105 degrees can save money while still providing the hot water you need for domestic purposes. Unplug any equipment that is not in use. Low-Cost Options Close the gaps - gaps that leak air and energy dollars can be found where doors meet, where parts of windows meet, and where doors and windows meet the walls. Caulking and weather-stripping materials can help keep the air from escaping. Install a seven-day programmable thermostat - an automatic thermostat will help to ensure that you're only using energy when you need it. Use a power strip - "smart" power strips with built-in occupancy sensors shut off plugged-in devices when no users are present, adding up your energy savings. Clean or replace the filter on your cooling or heating system. Some filters can be washed and re-installed; others should be replaced every month or two. Think ENERGY STAR®: when buying appliances, look for ENERGY STAR® products, which work the same or better than standard products but use less energy.

Denver Ranked Among Top Housing Markets by Forbes Magazine

2010-09-18T13:45:00-07:00

Forbes Magazine named Denver as among the top housing markets for investors. Forbes relied on Cary, NC-based real estate research firm Local Market Monitor to select the best markets for conservative investors. The firm reviewed metropolitan areas with population over 400,000 on such factors as population and job growth, change in housing prices, and diversity of jobs in the area. According to Forbes, "Two years ago the idea of putting money behind real estate ventures seemed too risky for even the most reckless of capitalists. But investor skittishness about the real estate market is slipping away, and speculators are seeing value in distressed markets." Denver ranked 8th on the list, while Raleigh, North Carolina was reported as the most attractive city for investors.

Denver Real Estate Market Trends - Oct 2010

2010-10-08T13:38:00-07:00

As the announcer in baseball likes to say when one of the Rockies hits a home run: “You can kiss it goodbye!” Well, that’s about all that can be said about this summer of 2010. Poof! It was over before we even knew it. Now comes the fall; filled with football games, warm days and cool nights. Change is in the air. The Metro Denver real estate market limped along through the summer months. No longer bolstered by the Federal government’s tax payer incentive program, home buyers and sellers were left to survive on their own. Mortgage interest rates dropped to historic lows, which spawned a plethora of homeowners interested in refinancing. Problem was, home values had slipped and appraisals were comingin low; leaving many homeowners on the sidelines (or in the dugout) unable to take advantage of lower rates. Year to date sales of single family homes in Metro Denver are down 7.12% through August/2010 (7,646 sold) as compared to August/2009 (8,232 sold). (Information is from MetroList, the Denver Metro MLS.) On the surface, Metro Denver single family home values have stabilized and are improving. At this time last year, through August/2009, home values were down approximately 6.98% as compared to through August/2008 (average sales price was $279,639). Based on those numbers, average home value sales in Metro Denver have increased about 2.67% over the course of the past two years.Real estate markets are composed of peaks and valleys; ups and downs. Between the peaks and valleys are plateaus. This is where a calmness normally prevails. People aren’t fighting the currents of change. They have become more accepting; more realistic. This may be where the Metro Denver real estate market is today. From a real estate perspective, we may never again see the past in the future i.e. annual double digit appreciation of home values followed by annual double digit depreciation of home values. We now live in a more cautious and rational economic environment. In real estate, there will always be opportunities to be profitable. They exist today, but they are predicated on a person’s willingness to either wait or take some degree of risk. How long the wait will be is unknown. How great the risk is also uncertain. But for some, the willingness to roll the dice will eventually be rewarded. They’ll hit a home run!