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ArchivesJune 2006If it smells, it won't sellAt midnight tonight, June 30, 2006, all bars and restaurants in Colorado will become smoke free - with a few exceptions like casinos and a couple of cigar bars. As usual, the bar and restaurant owners say it will end up costing them their business because people won't come if they can't smoke.
As a former smoker, I say bunk! I hate eating someplace with a smoking section. There are very few places where you can combine a non-smoking section with a smoking section and the smoke won't drift. Your food tastes of cigarette smoke and your clothes and hair smell like an ash tray.
The same is true for houses where the owners smoke. It is almost impossible to get the cigarette smoke smell out of a house without taking out all the fabrics - carpets and drapes - and sometimes even the dry wall. All kinds of cures have been touted from air sanitizers to new carpeting. None of these will be effective if the smokers continue to smoke in the house. We have one piece of furniture that came from my parents home - who were both heavy smokers. It has been in our home for at least 10 years and you can still smell the smoke if you get close to that piece. Our next door neighbor is a heavy smoker and you can smell the smoke when you walk by her house. I mean you can smell it outside even though she only smokes inside her home.
In Colorado the large majority of people don't smoke. They don't want to purchase a home that smells like smoke. And with so many homes on the market right now, they have plenty to choose from. If you are a smoker and want to sell your home you should replace the carpet, paint the walls, clean the drapes and any furniture and then limit your smoking to the outside.
It still might not sell to a non-smoker, but at least you've given it a shot. 8:07 PM - Jun. 30, 2006 - comments {1} - post commentShould we buy a newly built home?Big headlines in today's Denver Post - Sales of new homes up!
Although the inventory of new homes is also up, it is a good time to purchase a newly built home if that has always been your dream.
Richmond Homes - a national builder with a big presence in Denver - recently told one of our agents about a $50,000 price reduction on a spec home in the extreme southern suburbs of Denver. Combine that with advantageous financing arranged through the builder's lender and the potential of free upgrades and the time could be right.
Most new home builders have inventory ready to move into. Some have inventory where you can still pick colors and finish like carpeting and counter tops. And you can always purchase a "dirt start" where you get to pick your lot and all your upgrades.
If you've always dreamed of owning a brand new home consider doing it now. 4:36 PM - Jun. 27, 2006 - comments {0} - post commentWhat are interest rates doing?We hear it every day. Interest rates are going up, interest rates are going down. What is the scoop?
Mortgage interest rates are a function of what the FED does with short term interest rates because they effect the bond market. And most mortgage rates are a direct result of where the bond market is.
So with the FED continuing to raise rates, mortgage rates follow. Remember, if the economy is good, mortgage rates will go down. If the economy is not so good, mortgage interest rates will go up.
Mortgage interest rates are definitely going up. About a point in the past 10-12 months. That means about $60 per month on a $100,000 loan. Since the average price of a home in the Denver metro area is around $250,000, that means an increase of about $150 per month.
A lot of Buyers were having difficulty qualifying for loans at the 5.5% rate. So they got adjustable rate mortgages that started out with a lower interest rate. Now those loans have started to adjust, and since almost all of them adjust based on where the current mortgage interest rate is, they have increased a lot. Since Buyers were having difficulty at the lower rate, you can imagine how hard it is for them to make payments at the new, higher, rate.
It's no wonder Colorado is still leading the nation in foreclosures. But we think the rest of the country won't be far behind. 8:06 PM - Jun. 25, 2006 - comments {0} - post commentFor Sale By OwnerWhen times are good you see them on every corner - FOR SALE BY OWNER the signs say. Usually purchased from a hardware store with a handwritten phone number to call on the bottom.
So why do people try to sell FSBO? Usually only one reason - TO SAVE THE COMMISSION!! I can do this, they think, and I can save that commission - or at least half of it. It certainly doesn't take any great knowledge or skill to sell houses. Look at all the people who do it and look at how rich they are from all the big commissions they make.
While actual statistics are not available, our experience is that 80 - 85% of all those who start out FSBO end up listing their homes with a real estate agent. Why? It's not as easy at it looks. Among other things they discover:
1. They have to be at home to show the property at all hours of the day and night. 2. They don't have nearly the traffic they expect because the home is not exposed to most Buyers. Most Buyers are either working with a real estate agent or otherwise looking at realtor.com or local MLS internet databases. Most of the time FSBO homes are not on those sites. 3. They get lots and lots of "looky loos" who waste their time and invade their space with no intention of purchasing their home. 4. The paperwork is overwhelming. 5. People always want them to "carry the paper" because they can't get a loan through regular channels. 6. Buyers always low ball the offers. They know the Seller is not paying a commission so they knock that amount off of the offer price - even though the Seller may think they have ALREADY reduced their price to account for the commission. Traditionally about 15 - 17% of all homes are sold FSBO each year. We believe a large portion of that group has a real estate agent representing the Buyer who is actually handling the transaction for the Seller - although in most cases in Colorado they represent the Buyer and are not working in the Seller's best interest.
We find it difficult to understand why people trust the biggest asset they have to a non-professional - themselves. Next time, before you FSBO, consider listing with an agent. You'll be glad you did.
8:06 PM - Jun. 23, 2006 - comments {0} - post commentInspection issuesIn Colorado the Buyer has the right to inspect the house after the contract is signed. They can hire anyone they care to use to help with this inspection. Typically a professional home inspection service is used.
The home inspector we recommend is a member of ASHI (The American Society of Home Inspectors) and has completed literally hundreds of home inspections. He always tells it like it is.
Some buyers seem to think a home inspection is about cosmetic items - the paint is chipped, the driveway shows signs of wear, the carpet needs to be replaced, etc. We believe the home inspection is about major mechanical and/or structural items. After all, the cosmetic items were there when the Buyer saw the house and still decided to purchase it.
Sellers in Colorado are asked to fill out a Property Disclosure form which is several pages long and covers everything from when the last time the chimney was cleaned to if any major additions were built without a permit. Although this form is voluntary on the part of the Seller, it is a rare circumstance where it is not filled out. If the home is lender owned or is part of an estate where the Seller has not lived there, the Disclosure is not filled out. But those are the exceptions.
Using this Disclosure as a guideline, Buyer and inspector can go through the house and make sure everything is working properly. This includes plumbing, electrical systems, heating systems and even the windows. When the inspection is completed, the inspector gives a written report to the Buyer outlining everything found - from the smallest item to the largest. It is then up to the Buyer and their agent to determine what they are going to ask the Seller to repair or replace.
The Seller in Colorado is not required to repair or replace anything. They can choose to do nothing, or to do some things and not others, or to offer a price reduction in lieu of repairs. The Buyer may then accept those terms or choose to terminate the contract.
Inspections are always a nervous time for everyone involved in the transaction and are usually completed very quickly after the contract is signed.
If you are a Buyer, make sure you use a good home inspector - they can save you lots of headaches later.
6:03 PM - Jun. 22, 2006 - comments {0} - post commentHaving lenders competeWe've all seen those commercials where lenders will complete for your business. A mortgage broker we know pokes his head behind the curtain.
Steve Ervin, President of The Owner & Buyer Connection says, "People THINK that those loan requests are submitted to hundreds of lenders and the best four make it to their in box. Nothing could be further from the truth."
It seems that lenders pay for those leads. It one lender pays a premium, only that lender will get the lead. The lead will only be submitted to up to four different lenders. The quote given to the potential buyer has not been screened in any way. It is up to the buyer to decide if that quote makes sense for them.
Problem is, lots of times the buyer gets to the closing table and the quote they thought they had is not what is on the final loan documents. We have been the listing agent (and thus had no input) on occasions where the buyer and the buyer's real estate agent were totally stunned by the loan terms they were asked to sign at the closing. Interest rates were higher, the down payment was much more than they thought they had agreed to. All in all, it's not a pretty picture.
If you're thinking of buying real estate, go to a lender you know or has been recommended by your real estate agent. They are usually local and have a track record of completed transactions. Internet lenders have no allegiance to anyone and don't have to answer to anyone. Buyer beware!
Remember, if it's too good to be true, it usually is. 5:20 PM - Jun. 19, 2006 - comments {0} - post commentFather's DayHappy Father's Day to all fathers out there.
Since my mother passed away earlier this year, we have all spent much more time getting to know our Dad and making sure he is OK since he lives 900 miles away.
Dads have a tendency to be very mysterious I think. They spend lots and lots of time working. Usually they can't attend those life altering moments - like when you had played the carrot in the 1st grade play. Sometimes they coach little league or the soccer team. But when they are home they have to share their attention among all the kids - not just you.
So we've learned a little bit more about our Dad these past few months. We've learned that he CAN cook and he CAN clean the house - when the spirit moves him. And he has conquered the washing machine. And he has made lots and lots of wonderful friends where he lives.
And mostly, we have learned how much he loves each and every one of us.
We love you too, Dad. Happy Father's Day. 2:13 PM - Jun. 18, 2006 - comments {0} - post commentMore bubblesIn a recent article by Jeremy Ames of Guidant Financial Group he talked about real estate investors and the "real estate bubble." He pretty much agrees with us that the "bubble" is mostly a figment of the media's imagination. That doesn't mean there won't be market changes, however. Some people are "get rich quick" junkies who don't want to, or can't, wait out any market down turn. Others have the ability to stay put. His list of the survivors includes:
The Casualities are likely to include:
But the biggest losers are those who are scared away from investing any of their money and those who invest without considering all the risks. 2:47 PM - Jun. 15, 2006 - comments {0} - post comment-Predatory LendingFour mortgage brokers in the Denver area were recently disqualified by HUD from doing FHA loans. Reason? Predatory lending practices. What exactly are predatory lending practices? Mostly they have to do with inflated interest rates and closing costs. Usually it involves minority buyers. We have seen loans made to non-English speaking buyers (where we represented the Sellers and thus had no input) that were 3-4% over existing interest rates and included 2% origination fees (where 1% or less is the norm) and closing costs that that were 6-7% of the contract price (when 3% or so is usual). Now it is typical for buyers with less than perfect credit to pay higher interest rates. But the amounts we have seen are ridiculous. Clearly HUD thinks some of these practices are so bad that they won't allow them to be associated with FHA loans. We not only agree, we wish there was some way to run these mortgage brokers out of business. These types of loans usually lead to foreclosure as the buyers can't afford to make the house payments for long. And foreclosures hurt all of us - they lead to lowered values in the neighborhood because they are usually sold for less than market price and they are usually not in the best condition. And they usually sit vacant for a while. A vacant home is an invitation for all sorts of bad things to happen. Colorado just passed a new law so that mortgage brokers must be registered and post a bond to do business in the state. We were the next to last state to do something about regulation of mortgage brokers. It's about time. If you have any questions about the terms of any home loan you are considering, don't be afraid to call several lenders. Be sure to call a major bank or two to see what they offer. Many times they have programs for lower income borrowers or for those who have credit dings. It's better to walk away from the contract than to get yourself into financial trouble because you can't afford the loan. 8:07 PM - Jun. 14, 2006 - comments {0} - post commentDenver labor and employment statsAccording to preliminary data from the Colorado Department of Labor & Employment, employment in Denver was up 1.9% in 2005 compared to 2.1% for Colorado as a whole and 1.5% for the US. That means that Denver employment grew at a healthier rate than the nation during each month of 2005. Unemployment decreased in Denver to 4.5%, the lowest rate reported since September 2001. For the year, the enumployment rate in metro Denver averaged the same as the national rate and slightly higher than the Colorado rate of 5%. First time unemployment claims filed in metro Denver increased to 6,048 in January 2006 - the highest level since January 2005. However the total number of claims filed in January 2006 was 11.4% lower than the number of claims filed in January 2005. Other indicators are up as well. Retail sales, excluding cars, were up 2.2% in January - the best showing in 2 years. Consumer confidence in the mountain region was up to 143.6 from 114.4 in the previous month. The Colorado stock index increased 1.6% from the same period in 2005. Sales of previously owned homes in January 2006 were 4.8% stronger than January 2005 and the number of homes under contract increased from December 2005 to January 2006. Metro Denver home prices increased 4.4% from fourth quarter 2004 to fourth quarter 2005. The commercial market also appears to be making a come back. Vacancy rates for warehouses are down to 6.7% while vacancy rates for Class A office space is down to 20.2% in 2005 from 21.7% in 2004. All information is taken from the Metro Denver Economic Development Corporation. 11:47 AM - Jun. 11, 2006 - comments {0} - post commentMedical marvelsWe spent today at the hospital and in doctor's offices because Mack had to have several tests. While exhausting and sometimes uncomfortable for him, the results are incredible. There are so many different machines to see inside the human body. They can xray you, they can scan you, the can image you, they can scope you - all depending on what they are looking for and what part of the body they are looking at. And they have the results instantly. No more waiting for days worrying and wondering. They can tell you while the test is running what they are seeing. It may be expensive for the insurance companies, but it sure is easier on the patients. You gotta' love living in modern times. 8:27 PM - Jun. 9, 2006 - comments {0} - post commentDenver apartment market improvesAfter years of increasing vacancy rates, Denver's apartment market appears to be making a comeback. The rate for the first quarter 2006 was 7.4% which is the lowest it's been since 2000. Newly constructed communities are still facing vacancies of arond 25% while units that are 1-4 years old have the lowest vacancy rates at 7%. Average rental rates for all units is $835 which is up from $822 in the past year. There are 165,000 existing units in communities of at least 50 units as of April 1st with another 15 projects under construction that will add 1,719 units to the area. There are 3,400 units currently in some stage of the development process but some of those may ultimately not be built. The continued stabilization is actually a result of the high foreclosure rate in Colorado. There are fewer renters purchasing new homes and those people who have had to leave their homes due to foreclosure are renting apartments. Over the long tern, Denver is an excellent place for apartment investments although experts believe the apartment market will stay soft through 2007. 6:01 PM - Jun. 8, 2006 - comments {0} - post commentBehind on your payment? FHA will work with you.Colorado had the highest rate of home foreclosures in the nation during April and May of this year. The largest number were caused from people who had adjustable rate mortgages that they couldn't afford when payments rose. FHA (Federal Housing Authority) has 4 percent of all Colorado mortgages. The goal at FHA is to keep people in their homes if at all possible. To that end, they will work out a payment schedule with the borrower to more closely match the current need. They call this a loss-mitigation program. Truth is, it is cheaper for any lender to keep you in your home than to foreclose on the property. Other lenders will also work with you if you fall behind on your payments. The key is to contact them first - before you fall too far behind - and work out a plan. They are actually eager to talk to you. If you have an FHA mortgage and are having trouble making your payments call the federal loan help line at 1-888-297-8685. If you have a non-FHA mortgage, call your lender. Their phone number is on your payment book or monthly statement. There are things you can do. Please don't wait til it's too late. 6:23 PM - Jun. 7, 2006 - comments {0} - post commentStaging a home for saleYou've all seen the HGTV shows. They go through and remove and repaint and recarpet and put up new drapes and voila! You're thinking, I don't want to do that to sell my house. But they are right! The house that is staged correctly sells faster and for more money than the one that isn't. Here are a few tips: 1. Unclutter. Remove all the knick knacks. Take the off season clothes out of the closets and box them up. Take all the stuff off the kitchen and bathroom counters and box it up. 2. Clean the house from floor to ceiling. Clean the windows. Take down the drapes and have them cleaned or wash them. Clean the carpets. Wax the floors if they can be waxed. 3. Have a pleasant smell. That doesn't mean a fake potpurri. But let the house smell fresh and clean. 4. If you think it needs to be painted, it probably does. Use neutral colors. Not necessarily white but definitely not royal purple or mauve. 5. If you think it needs carpet, it probably does. Many sellers say, but why should I pay for carpet the buyers may not like? Answer, because you'll more than make up for it in a faster sale for more money. Choose a beige carpet that goes with most things. Chances are the buyer won't change it for years to come. We have more staging tips on our website along with other free reports. Feel free to check them out. 11:35 AM - Jun. 7, 2006 - comments {1} - post commentWhat makes Denver great!In a recent book we read, Life 2.0, Denver was named as a good location for people looking to relocate themselves, their families and their businesses from the very expensive coastal areas. We couldn't agree more! We've listed some of the reasons the Denver metro area is so great. Surroundings Metro Denver is made up of all or parts of 7 counties: Denver, Adams, Arapahoe, Jefferson, Douglas, Broomfield and Boulder and includes 60 communities. Covering over 4,531 square miles it contains a population of over 2.6 million people. The median age of Denver residents is just over 34 years and the average wage is just over $46,000. Denver has over 300 days of sunshine every year while the average rainfall is 15 inches and the annual snowfall is just over 55 inches. Universities
And within a 60 mile radius:
Cultural Facilities
Sports Denver has 7 professional sports teams including
Recreation The Denver area has 110 golf courses including Cherry Hills Country Club - home of both the men's and women's US Open, PGA and LPGA championships. Castle Pines Golf Course hosts The International every year. There are 650 miles of paved bike trails in the metro area. Denver is home to the largest park system in the nation with 205 parks located within the city. These include large parks like Washington Park, City Park, Cheeseman Park and Congress Park and small neighborhood parks in every area of the city. Additionally, over 20,000 acres of parks are located in the nearby mountains while the nearby counties have reserved over 100,000 acres for open space and parks. Boating is available at both Cherry Creek Reservoir and Chatfield Reservoir. Rafting is popular in the rivers, streams and creeks in the area and in the mountains. There are miles of gold medal fishing streams within a few hours drive of downtown. World class snow skiing is available 70 miles away at Vail and 90 miles away at Keystone, Copper Mountain, A-Basin and Breckenridge. A little further is Steamboat Springs and Aspen. National Parks in Colorado include Rocky Mountain National Park, Mesa Verde National Park and Great Sand Dunes National Park. Numerous National Monuments are also located in the state. Housing According to the most recent MLS statistics, homes in the metro area had an average price of $312,740 with a median price of $247,000. Condos had an average price of $185,991 with a median price of $157,000. For the past 3-4 years the metro area has seen real estate appreciation in the range of 2-3% per year. Denver is a city of neighborhoods. Warehouses have been converted to lofts in Lower Downtown (LoDo) and new condo projects have been built in the Golden Triangle area. Close to downtown are the older areas of Curtis Park, Baker, Congress Park and Park Hill. Further out of the city are newer areas including Lakewood, Golden, Englewood, Littleton, Westminster, Thornton and Aurora. Even further out are Highlands Ranch and Castle Pines. As part of recent airport and base closings, Denver has redeveloped both the Stapleton and Lowry areas. Close to downtown, both of these developments are highly popular with residents both new and old. Transportation For a fairly large city, Denver is easy to get around in. I-25 runs the length of the state from North to South and goes through the middle of town. I-70 bisects the northern part of the state from east to west and forms a T in the middle of the city with I-25 north to south and I-70 east to west. In addition, there are loops around the city to avoid the center. I-225 and I-270 loop the east part of the city. C-470 loops the south and west. E-470 is a toll road that loops outside of I-225 from south to north and is the easiest way to get to DIA. Highway 36 is an interstate highway from Denver to Boulder and I-76 goes from Denver north and east to connect to I-80 in Nebraska. There are numerous low access high speed highways in addition to interstates that crisscross the city. Add major arterial streets that feed off the high speed highways and you can usually get across town in 30 minutes or less depending on the time of day. Denver also has a light rail system from the southern suburbs into downtown. With adequate parking and excellent scheduling, the commute can be made easily and cheaply - with no parking hassles! More light rail lines are on the drawing board. Colorado Department of Transportation (CDOT) is responsible for the construction and repair of the major highways in the city and state. Denver International Airport is the 6th busiest airport in the country serving over 40 million passengers per year. It is the 10th busiest airport in the world. Corporate jets can use convenient Centennial Airport in the southern suburbs or Jefferson County Airport to the west. Union Station close to downtown is the major train terminal in the area for passengers boarding for all destinations and is the centerpiece of revitalization of the western downtown area. Tourist Attractions Whether you're new in town or you have to entertain someone who is, Denver has lots of see and do.
Shopping If you're a power shopper, or know someone who is, you came to the right place. Every major department store is represented in the city. Plus there are lots and lots of boutique shops to tickle your fancy - from a store exclusively for games to the best independent bookstore in the nation. Plan on several days - one just won't do.
Restaurants Have you ever eaten buffalo? You can easily find a place in Denver that will serve it to you! We have restaurants that have been open for over a hundred years and some that have been open for a hundred days. You can find every variety of food from large chains to small neighborhood pubs. We have listed some of our favorites. Bon Appetit!
Events Denver has many annual events which attract locals and visitors alike.
After Dark If you come to Denver expecting to find cows in the middle of the street and the sidewalks rolled up at dark, you've come to the wrong city! Denver has a vibrant and exciting night life that starts in LoDo (shorthand for Lower Downtown), moves to the Golden Triangle and ends on th 16th Street mall. Throw in side trips to Cherry Creek North and Capital Hill and you've got plenty of fun. Denver is also known for it's brew pubs. Even the Mayor owns a couple. We've heard that these are some of the best around
This list is just a start. There's more to see and do here. Come see for yourself!
8:11 PM - Jun. 5, 2006 - comments {0} - post commentLife 2.0While on a recent weekend getaway we read Life 2.0 by Rich Karlgaard. Rich is the publisher of Forbes magazine and writes the column "Digital Rules."
The premise of the book is that people are tired of the rat race on the coasts - the 80+ hour work weeks, the 2 hour one way commutes and the lack of family time. He predicts a giant population shift.
Karlgaard interviewed several people who decided to make a life style change and move away from the coast to places that are more family friendly. These places are, for the most part, in the heartland. They have several things in common including affordable housing, good schools, reasonable access to cultural facilites, nearness to universities with excellent technical departments and a home town feel.
What makes this shift possible? The rise of the internet and high speed connections. Let's face it, lots of people can do their job from anywhere. All they need is an internet connection. Why pay the exorbitant amounts needed to stay in Silicon Valley or the Washington DC area when they can live and work in Des Moines or even Fargo?
At the end of the book is a list of places that seem to have all the amenities required by the job shifters. There are several Colorado town to make the list including: Durango, Boulder, Ft. Collins, Greeley, Colorado Springs and, of course, Denver.
We always knew we were good - now we have proof!
7:35 PM - Jun. 4, 2006 - comments {0} - post commentWater, water everywhereColorado is a semi-arid state. That means our annual rainfall is around 15 inches while our annual snowfall is around 60 inches. This past winter the mountains got a ton of snow while the front range didn't get much precipitation at all.
Geography note: Denver is actually located on the plains east of the mountains. It is about 70 miles from Denver to the closest ski area. So all those delightful pictures of snow above the top of the roof were taken at ski areas, not necessarily in Denver.
The snow pack this winter was way, way above average which is good since we've been in a drought for the past several years. The biggest indicator of the water level is the amount of snow that is left on the mountains at this time of year. Since we just came back from Glenwood Springs on the Western Slope this past weekend, we can report that there are snow fields above timberline on the north facing slopes with some snow down to around 12,000 feet or so. For those of you familiar with the terrain - the very top of the runs at Beaver Creek still had snow fields. The very, very, very tops of the runs at Vail still had a little snow. The mountains above Loveland Pass still had snow as did Loveland Ski Area. A-Basin Ski Area just had their final day today - they were still skiing in June!
The Colorado River is as full as we've seen it in many years with rapids all through Glenwood Canyon. Dillon Reservoir is full (last year it was down several feet). Georgetown Lake is full. And all the tributaries (Gore Creek in Vail, the Roaring Fork River at Carbondale) are running high and fast as well.
W commented again and again about how green and lush everything is. The aspen groves look particularly beautiful which may portend a gorgeous fall color season.
This is all very good news. So what is the problem? There is actually very little snow pack left because it has been unseasonably hot. So once the runoff is gone there won't be much, if any, reserve. We could still be facing a long, dry, hot summer where water conservation will again be necessary.
If you want to go rafting, we'd suggest you go quickly before the runoff ends. 6:13 PM - Jun. 4, 2006 - comments {0} - post commentReport from the Western SlopeMack and I decided to go to one of our favorite spots in the state for a little R&R this past weekend - Glenwood Springs.
Home of the world's largest hot springs pool, this resort town is still small enough to feel cozy but large enough to have lots of different things to see and do.
We stayed at the Hotel Colorado which was built in 1893 and was "The Western White House" when Teddy Roosevelt stayed there in 1905 while he was President. It was undergoing renovation this past weekend but nothing ever really slows down the Hotel Colorado. Everyone just walks around the workmen and keeps going. We think it was a little disconcerting to the young couple who got married there this weekend, though. The smell of fresh floor varnish probably didn't mix well with the fragrance of the wedding bouquet.
The Western Slope of Colorado (that part of the state west of the Continental Divide and more particularly west of the Rocky Mountains) is very different from the front range. The towns are small. The traffic is non-existent. The scenery is more desert like. And the people are more friendly.
Glenwood is full of health spas, massage therapists and outdoor guides. The Colorado River runs through the middle of town and there are always rafting tours on the river during the spring and summer. Lots of people bike through Glenwood Canyon. The canyon is immediately east of Glenwood and may be one of the most picturesque sites in the country. When I-70 was extended through the canyon no expense was spared to save the unique beauty. It's almost as if the road doesn't exist it blends in so well with the surrounding countryside.
South of Glenwood are the little towns of Carbondale, Redstone and Marble. Carbondale has exploded in recent years and what was once a sleepy little town is now triple the size. Redstone is a national historic district - the entire town. Located on the Crystal River, it is quaint and unsullied. We have said many times that we'd move there in a heart beat if we could figure out how to make a living. Further south is the town of Marble - named for the Yule Marble Quarry. This quarry is where the marble for the Tomb of the Unknown Soldiers was quarried and it is now a working marble quarry again after being closed for many years.
Continuing back south and east from Glenwood is a little town you may have heard of - Aspen. Aspen is so, so rich. We noted an ad for a home east of town. Newly built and with some acreage the ad said "PRICE AVAILABLE UPON REQUEST." Like, if you have to ask you can't afford it.
Unfortunately, the Aspen prices are working their way west. The nearest small town is called Basalt. We saw an article that the least expensive home in Basalt now is approaching $1,000,000. The next town is a called El Jebel and right now consists of little more than a convenience store/gas station. Saw an article while there that a couple has purchased land in El Jebel and plans a 4 star hotel plus condos and restaurants.
Prices in Glenwood itself have at least tripled since we started going there several years ago. Many of the people who work in the resort industries can't afford to live in town anymore. Our massage therapist (well, we couldn't go all that way and not get a massage!) said she was moving back to Denver because she couldn't afford to live in Glenwood anymore. The front desk person at the hotel said she lives 6 blocks from the hotel and it's so expensive she has to work two jobs to keep up. So the workers keep moving west to find affordable housing and who lives in town?
We always enjoy our visits to Glenwood. Now, let's flip open that calendar and plan the next one.
5:53 PM - Jun. 4, 2006 - comments {0} - post comment |
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