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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!

September 5, 6, & 7, 2008 will be the dates for the 2nd Annual Greenwood Village Arts Festival.

Enjoy the atmosphere of a street fair with local merchants.  Featuring Antiques, Food, Local Retailers, Salons, and Local Artists!

This years Greenwood Village Arts Festival is in a NEW LOCATION.

Cherry Hills Marketplace

5910 S. University Blvd.

Greenwood Village, CO 80121

View Larger Map

• Friday the 5th: Noon-6PM
• Saturday the 6th: 10AM-6PM
• Sunday the 7th: 1PM-6PM

So if you are looking for something to do this weekend, Have at it!

photo credit: Skyriser / Lix

Tomorrow, July 26th is the Annual Greenwood Village Day!  This event is one of the reasons Greenwood Village is unlike most other municipalities.

Every resident is invited to attend a fabulous, FREE event, celebrating those who live in Greenwood Village.  Starting at 2pm and running until 10pm this is a big party!  Specifically planned to make sure the whole family enjoys themselves, the day includes events, activities, games and food!

This is one of the events my family attends EVERY year, it’s truly great!

Everyone gets a free meal, and T-shirt. The one catch you need a ticket!  But it’s pretty simple, To pick up your tickets, simply go to City Hall, show proof of residency and that’s it!

Here is a list of some of the events and the schedule:

2pm-7pm  Fun, Games, and Activities

Pre-School Astronaut Vests, Rocket Making, Space Alien Chess, Planet Painting, Solar System Puzzles, Handcasting, Flying Trapeze, Airbourne Adventure, Rocket Inflatable Jumper, Mars Mining, Wrecking Ball Inflatable, Rocket Launch Area, Dr. Adam’s Bomb Lab, and Much More!

4pm-7pm  Dinner, Ticket Required!

4pm-6pm  Day Stage - Live Music from “The Spin”

8pm-9:15pm  Night Stage - Live Music from “Triple Nickel”

9:15pm-9:45pm  FIREWORKS!

In case of rain, the Concert and Fireworks will be re-scheduled for Sunday July 27th, from 7pm-9:30pm.

Village Greens Park is the largest park in Greenwood Village. At over 25 acres, this great park is used by Cherry Creek High School athletics, and youth Baseball, Softball, Soccer and more! Additionally, the park is home to Greenwood Village’s largest special event, Greenwood Village Day!

Directly adjacent to Cherry Creek State Park, Village Greens features a playground, picnic tables, restrooms and a hike/bike trail which connects to the State Park.
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This park is located off Union Avenue and Dayton Street. Just West of the Dam Road.

Here are some recently compiled market stats for March 2008. My market area is the South Metro Denver cities, including Denver, Centennial, Greenwood Village, Cherry Hills Village, Englewood, Littleton, and Highlands Ranch.

Big Picture (Covering the Entire Metro Denver Area) The figures are for single family residential properties only, and Do NOT include Condos, Land or Commercial data.

Total Closings for the Month: 2951, Down 11% from 2007, Up 21% from previous month.

Average Days on Market: 109, Down 6.8% from 2007, Down 2% from previous month.

Active Listings: 19,509, No Change from 2007, Up 2.3% from previous month.

Average Sold Price: $274,693, Down 9.1% from 2007, Down 1.5% from previous month.

Absorbtion Rate: 6.5 Months, Down 2% from previous month.

South Suburban Central & South Suburban East MLS Market Areas (This data includes condos, and covers the majority of Greenwood Village, Cherry Hills Village, Englewood, Littleton, Centennial, south Aurora, and un-incorporated Arapahoe County.)

Total Closings for the Month: 126, Down 14.3% from 2007, Down 24.5% from previous month.

Average Days on Market: 93, Down 31.1% from 2007, Down 14.7% from previous month.

Active Listings: 1008, Up 10.6% from 2007, Down 19.7% from previous month.

Average Sold Price: $414,188, Down 14.2% from 2007, Up 3.5% from previous month.

Absorbtion Rate: 7.6 months, Up 32.1% from 2007

The conclusion is, no conclusion! We are receiving mixed messages with this data. Prices are down year to year, but up from last month. Days on the market are down, but absorbtion rates are higher. Properties are still being sold, and in the South Metro Denver area, they are selling quicker, than last year!

My opinion is we won’t know much more about the market until we’ve hit our summer stride. At that point, the numbers should start giving us an indication on where we are headed!

Click Here to download the full report in .pdf format. March MLS Stats

The European Village of Homes at the Landmark is perched on the Highest piece of ground in Greenwood Village, Colorado!

One of the few remaining in-fill residential development projects in the area, the Landmark is a fabulous, well thought out and planned community. The upscale project features Manor Homes and Brownstones with a price point of $800,000 to over $2,000,000.

In addition to the residential portion of the project, the Village Shops at the Landmark is already becoming a destination experience for both shopping & dining. Restaurants, pub, cafe’s, a spa, movie theater, and boutique shops, draw visitors from all over the Denver area.
For more information on purchasing one of these fine properties, where to catch lunch or a movie, or just general information on the area, contact the Get Home Denver Team.

The home equity loans do not fall in the personal loans category, similar to the car loans that cannot be considered a business loan.

El Parral is my favorite Mexican Restaurant in town.  The people are friendly, the service is great, and the food is wonderful!

When you get there, be prepared to eat.  The servings are generous, but not overwhelming, and it comes out quick!  There have been times when we’ve ordered, and the food arrives within a couple minutes.  It’s made to order, and fast!  These guys don‘t mess around when it comes to turning tables.

It has a fairly large menu, which I don’t need.  Just give me (more…)

A Mortgage lender looks for your overall financial picture.  The main items of importance are current employment status, current income, and your ability to manage credit, as well as the amount and availability of a down payment. 

In most cases the most recent two-year period of time is used as the primary focus on your ability to obtain a loan. When processing your loan application, the lender will obtain all of the necessary information and then verify this information for accuracy. 

In particular;                   

VOD - Verification of Deposits.  The lender will verify with your banking institutions the funds you state are available to close.  In addition your bank statements are used to verify the amount of income you claim.          

VOE - Verification of Employment.  The lender will verify with your employer the facts of your employment as stated in your loan application.          

VOR - Verification of Rent.  The lender will verify with your current landlord or mortgage company the fact of you making your payments as agreed upon. 

Another portion of your qualification for a mortgage are the ratios of your income to your monthly mortgage payment.  There are two ratios that your lender will evaluate you on.  First, the front-end ratio is the amount of your mortgage payment in relation to your gross monthly income.  Second, is the back end ratio.  The back end ratio is the amount of your mortgage payment in relation to your monthly income minus any monthly obligation you may have (car payment, credit card payment, student loans, alimony, child support, etc.)  Different types of loans have different qualifying ratios involved.  Typically FHA insured mortgages are 29% and 41% while conventional loans are 33% and 36%. 

Please contact us if you would like to discuss this in greater detail.  We would also be happy to refer you to one of our mortgage partners.  These professionals will take care of you and we are happy to put our name to their reputation!

Here are some recently compiled market stats for February 2008. My market area is the South Metro Denver cities, including Denver, Centennial, Greenwood Village, Cherry Hills Village, Englewood, Littleton, and Highlands Ranch. So the stats will be limited to these areas.

Big Picture (Covering the Entire Metro Denver Area) The figures are for single family residential properties only, and Do NOT include Condos, Land or Commercial data.

Total Closings for the Month: 2342, Down 2.9% from 2007

Average Days on Market: 111, Down 11.2% from 2007

Active Listings: 19,067, Up 4.2%

Average Sold Price: $278,871, Down 4.5%

South Suburban Central & South Suburban East MLS Market Areas (This data covers the majority of Greenwood Village, Cherry Hills Village, Englewood, Littleton, Centennial, south Aurora, and un-incorporated Arapahoe County.)

Total Closings for the Month: 167, Up 19.2% from 2007

Average Days on Market: 109, Down 3.6% from 2007

Active Listings: 1256, Up 14.2%

Average Sold Price: $399,920, Up 1.6%

The conclusion is, activity is on the rise! Properties are still being sold, and in the South Metro Denver area, they are selling quicker, for more money than last year!

My opinion is our market is on the rebound, and we have in fact seen the bottom! We will know much more come May of this year when the selling season starts in earnest.

Click Here to download the full report in .pdf format. Feb. 2008 Denver Market Stats

For more information contact the Get Home Denver Team.

Just released; As of March 5, 2008, the Federal Housing Administration and HUD, have Increased the loan limits for FHA insured loans. 

In Denver and most of the surrounding counties the limit has increased to $406,250 for a single family residence.

This increase should ease some of the pressure felt on the mortgage market.

For a complete listing of the new loan limits for Colorado Counties go the the HUD website by clicking here!

For questions on what this may mean for you, please contact the Get Home Denver Team.