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Nationally recognized, and highly acclaimed AgentGenius.com has, in the past, delivered some of the best Real Estate related content on the net.  The site is continuing to evolve, and has recently released what they term “Agent Genius Sphere.”  The thought is to syndicate thought leaders in the real estate world into one easy to navigate location.  Here is how Agent Genius describes the Sphere:

What IS The Sphere?

The Sphere is our list of the most progressive leaders in Real Estate today, syndicated here for consumers who want down to the wire information- the latest from around the globe and yes, even local information.

Showing Off - Most SPHERE’D

We’re featuring the hottest, most progressive sites around, so you’ll know quality when you see the Most Sphere’d badge (seen below) around the web!

AG has decided to include our blog in the mix, and I’m sure you’ll agree this is a serious lack of judgement a brilliant move!  We are now proudly featuring the badge in our sidebar.

Thanks AG, we hope to live up to the hype!

On a 75 degree day at the end of October, my mind started to wander about the wonderful weather we have in Denver.  I often get questioned about the climate of the area.  In Denver, we have it pretty darn good!

• I’ve golfed every month of the year.  Not every year, but many times
• Last year I shoveled my driveway 6 times.  That was more than the previous couple of years combined.  Most snow showers in Denver drop only a few inches, and it will melt off within a day or two!
• The Average precipitation for the Denver area is less than 12 inches per year
• The climate is very dry, and not as harsh as the humidity filled mid-west, and east coast.

The Rocky Mountains, and world class skiing are less that 2 hours away.  The mountains act as a barrier for the weather fronts.  Most storms hit the mountains, drop their snow, bounce over the Denver area, and pummel the mid-west!

I’ve posted a few great photos of the Mountains in the winter.  It is truly one of the most beautiful sights in the world!  Take a look by clicking the “Denver Photos link” at the top of this page!

If you haven’t already, you may want to subscribe via RSS or Email to make sure you don’t miss any of the great photos in the future!

Image by Getty Images via Daylife

Anyone using Arapahoe Rd. that must cross the Parker Rd. intersection knows what a nightmare this traffic fiasco can be. During the extended “Rush Hours” traffic can back up for miles for those trying to cross Parker Road.

The good news is there is a plan in place to fix the problem! The Arapahoe Road - Parker Road interchange is scheduled for the following improvements.

• Parker Road will pass over Arapahe Road
• Loop Ramp to serve Eastbound Arapahoe Road to Northbound Parker Road
• Two-way “Ring” Road in the southeast quadrant of the interchange
• Already completed North portion of “Ring” Road
• Soundwall along Parker Road

The Soundwall is scheduled to be completed by the end of 2008.  The remainder of the “Ring” Road is scheduled for completion in the Summer of 2009.

Currently, $29.7 million in funding is earmarked for the interchange project.  This will allow for all the design, phased improvements, and right of way acquisition.  Unfortunately, the remainder of the construction will only occur when funding is available.

This means the fly-over piece is in need of funds! I will continue to follow this project and update the blog when new details are available.

This project is key for those living on the east side of Parker Road.  The increased  traffic flow will certainly raise the desirability of the 1000’s of homes in this area.  Additionally, this improvement of will certainly have a positive impact on the housing values.

The Parker Road Corridor Project features many other improvements.  I will will write about these later this week, so stay tuned!  You may want to subscribe to this blog so you don’t miss any updates!

Image via Wikipedia

The First Time Buyer….

• They have an opportunity to buy homes today that don’t have inflated values…
• They don’t have to wait for their home to sell…
• They have sellers willing to pay their closing costs and buy-down already low interest rates….
• They are in the first “Buyers” Market in nearly 8 years….
• They have the largest selection of homes in 15 years…..
• The current down turn in pricing will allow them to buy homes in neighborhoods that were out of their reach 2 years ago…
• They can get that extra bedroom or bath or garage…
• They can still buy a home with 3% down, a job, and reasonable (not perfect) credit through FHA..
• If rates go dramatically lower …FHA has a streamlined refinance program that doesn’t require re-qualification of the buyer…..
• If they buy before July 9, 2009 they are eligible for a $7500 tax credit
• If they buy before Dec 31 2008 they will get that back with their 2008 return

This is a life changing opportunity……

Image by pbo31 via Flickr

HomeVestors of America Inc. ranked Denver No. 6 on its list of top 10 markets for residential real estate investing in the third quarter…

Based on HomeVestors data, the best U.S. markets for home sales, in order, are:

(1.) Dallas
(2.) Houston, Texas
(3.) Fort Worth, Texas
(4.) Atlanta, Georgia
(5.) San Antonio, Texas
(6.) Denver, Colorado
(7.) St. Louis, Missouri
(8.) Philadelphia, Pennsylvania
(9.) Milwaukee, Wisconsin
(10.) Richmond, Va.

Based in Dallas, HomeVestors was started in 1996 and now has more than 230 franchisees in 35 states. The company’s slogan is “We Buy Ugly Houses.”  Franchise Brands LLC of Connecticut became majority owner of HomeVestors in June 2008, acquiring 62 percent of it.

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The next 45 days will tell us a lot about the state of the State.  Or, more precisely the state of the Denver area in terms of the real estate market.

A quick historical overview.

• The Denver Real Estate market started to flatten out in 2001.  15% annual appreciation slowed to less than 6%.
• The Denver Real Estate market had very little appreciation from 2003-2005
• From 2005-2007 the Denver market dropped at a fairly steady pace.  Prices corrected over this time by over 15%
• From March 2008 to September 2008 the Denver Real Estate market appreciated, or stayed even, each month.

Analysis of 2008

I’ve been saying since January of 2008 that the Denver Real Estate market was on the mend.  We had hit bottom, and were ready for the eventual upswing.

In February 2008, we were finding many GREAT values for investor clients to purchase.  Values of homes that were 20%-30% below that of 2005.  Today, these deals are few and far between!  There are still some great deals to be had, but the weeding out process is much more difficult, and the competition stiff.

The recovery process has been slower than I anticipated, but the numbers are bearing out this prediction.  The Denver Real Estate market has been bouncing off the bottom for 7 months, and the upswing is near.  Or, is it?

The past 2-3 weeks have seen a dramatic DECREASE in activity. Historically the Real Estate Market takes a breath before an Election, and the gravity of this Election, along with the National Economy and the woes of Wall Street, have inflated the problem.  There is a definitely a “Wait and See” attitude in the buyer population right now.

So, in my opinion, the next 45 days will tell us everything about this market that we will need to know. The election will be behind us, and the country, along with consumer confidence, will no longer need to worry about the leader of the free world for the next four years.  Americans can get back to work, and back to living.  And, we can all move on from the uncertainty, fearmongering, and mudslinging that comes standard with Presidential Elections.

I think we will see the months of November, December and January be some of the best months for home sales in many years (compared to the same months in years past.)

The reason for this is there is HUGE pent-up demand from home buyers. There are 1000’s of first time home buyers in the market with month to month leases, looking for the right opportunity to jump into the market.  There are 1000’s of people, who have a home to sell, that would love to buy up, or buy down, and take advantage of the depressed pricing.  This group has been sidelined because they have been unable to sell their current property for what they believe it is worth.  These people are looking to VOLUNTARILY move, and as such, have decided to “wait it out” rather than take the necessary beating to sell over the past year.

If I’m wrong, and the next 45 days don’t show any improvement, it’s my fear that we will be looking at late spring, early summer to see the rebound begin in earnest.

So let’s get this Election over with already!

What do you think?  Do you believe the Denver market is ready to rise?  How about Nationally?

photo credit: Ricardo Carreon

This years election is quickly coming up, and voters are urged to participate in early voting and mail-in ballots.  A record turnout is expected on election day and this years ballot is the longest since 1912!

Local county clerks and recorders across the state are prepping for long lines in anticipation of the combination of lots of voters and lots of ballot issues.  Boulder County Clerk and Recorder Hillary Hall says reading the guide ahead of time is Key.

It’s really important for voters to be prepared to vote because of how long the ballot is.  This is a record year, since 1912 we haven’t had a ballot this long

If you don’t vote early do your homework.  Otherwise the lines will probably be moving very slow.  I know I’m sending in my mail-in ballot, and not standing in line for hours on election day.

You can read the Colorado’s Voter Guide here.

Early voting takes place October 20-31.  Contact your county clerk and recorder for times and locations!

For more info, you can visit www.GoVoteColorado.com

photo credit: The Labour Party

One of the terms we professional stagers use often is “neutralize.” It means to stage the home in a way which will appeal to the greatest number of buyers. One of the easiest ways to do this is to eliminate themed rooms and collections.

Themed rooms are easy to recognize. A few of the more popular themes are Sports, Beach, Tuscany, Zen and Wildlife. Done in moderation, there is nothing wrong with these themes or styles. This is directed towards those who get a little carried away. Every piece of furniture, all the artwork, and all the accessories, have been chosen around the theme. The drawback to this excess is that buyers find it very difficult to imagine their own belongings in the room.

I have a friend whose family room has a “cowboy” theme. I think it is safe to assume that most buyers do not have spurs, pistols, and saddles in their homes, and would have a hard time getting past this theme and imagining their own furnishings there. This doesn’t mean you have to get a whole new room. The trick is to edit. For example, my friend could remove the aforementioned items, but a leather sofa and paintings with cowboys as the subject is perfectly acceptable.

There is only one exception to the themed room rule, and that is children’s bedrooms. It applies mostly to the shared living spaces in the home. I usually link themed rooms with collections, because quite often I will find collections spread throughout a themed room. But, sometimes they are off by themselves, or a collection becomes the theme. Almost all homeowners have some kind of collection. Whether it is a common one like books or framed photos, or something more unusual like Victorian birdcages or bobble-head dolls, these collections can be very distracting to buyers. The best bet is to pack these collections up, making them safe and sound, and more importantly, out of sight!

The bottom line is your home will sell faster, and you can create whatever theme, or collect whatever you want, in your new home that much sooner.

Mortgage Money is still readily available!

YES, Mortgage money is still available! The liquidity of mortgage money is not a crisis, and people looking to finance a home are able to do so!

I just wanted to inform you that it is BUSINESS AS USUAL around here.  We are still doing lots and lots of loans.  Even if you do not have a 720 fico and 20% to put down!

• FHA 3% down with up to 6% seller paid closing costs.  $406,250 is the new loan limit
• CHAFA works to get that particular buyer to 100% financing!  Call me for information on the income limits- It’s higher than you may think
• FHA 203K streamline loans- finance up to $35,000 in repairs or improvements into the loan
• Investor loans need 20% down these days- put an extra 5% down and improve your interest rate significantly

Please feel free to ask questions in the comment section, as the Q&A will help many readers!

Editor’s Note:

I have received many questions over the past couple of weeks in regard to the availability of Mortgage money, and the effect on the real estate business. Mortgage money is still flowing, but the availability of local banks to lend has tightened considerably. The effect has been Home Equity Lines of Credit (HELOC), Fix and Flip Loans, Construction Loans etc. are a bit tougher to come by.

The subprime mortgage mess, and questionable lending practices may have started this debacle, but the Wall Street brain trust are to blame for the full blown financial meltdown.

Greed and suspect ethics are the reason the financial infrastructure of this country is in a state of chaos. But instead of letting these companies be cannabalized by others in a true free market system, our elected leaders have chosen to open the treasury to these crooks. Maybe they should have opened up a few jail cells instead!

Check out this video from 60 Minutes, it breaks down the Wall Street mistakes.