20th Anniversary Celebration for The Meadows in Castle Rock

Posted at 2:40 PM, Jul. 27, 2007

Mark your calendars for a party to celebrate the 20th Anniversary Celebration (1987-2007) of The Meadows in Castle Rock Colorado!  This celebration will be held Saturday, August 18th and Sunday, August 19th.  Some of the events inlcude:

• Pancake Breakfast at The Grange from 7:30 until 10:30 am on Saturday, the 18th.
• Party in the Park (Butterfield Crossing Park) from 2:00 until Dark on Saturday, the 18th which will include Bands, Children's Area, Dog Agility Demo, Art Show, Concession Sales, and FIREWORKS!
• RC Boat Races in The Grange Pool from 8 until 10 am on Sunday, the 19th.
• Scavenger Hunt from The Grange from noon until 2 pm on Sunday, the 19th (RSVP to 303-814-3953 or knewton@crdvco.com)
• Ice Cream Social at The Grange from 2 until 4 pm on Sunday, the 19th.

Come join in the celebration and meet your neighbors!

Town of Castle Rock Watering Schedule

Posted at 5:07 PM, Jun. 1, 2007

The Town of Castle Rock has put forth their 2007 watering schedule.  It is very important that this watering schedule is followed or fines can/will be incurred up to $200!

This watering schedule does not effect hand watering or children playing in sprinklers per the water scheduling which can be found here.

Douglas County Household Chemical Roundup

Posted at 5:03 PM, May. 30, 2007

It's that time of the year where the garage and home are cleaned.  Sometimes you find items that you know you shouldn't throw in the trash as they are hazardous but what should you do with them?  On Saturday, August 11, 2007 and Saturday, September 22, 2007 Douglas County will be holding roundups from 9:00 am to 3:00 pm to collect the below items from Douglas County Residents.  Make sure you bring a driver's license or utility bill showing your Douglas County resident status.

• Paint
• House, garden, and pool chemicals
• Automotive fluids
• Fuels
• Propane tanks between 1 and 20 lbs
• Vehicle and household batteries
• Mercury
• Passenger vehicle and pickup truck tires removed from the rim.

For a copy of the flier, click here.

For additional information you may call the Roundup Hotline at 303-846-6249 or visit them online. 

Metro Denver Task Force Discusses Foreclosures

Posted at 10:45 AM, Jan. 26, 2007

On Thursday, January 25th the Denver Metro Task Force on Foreclosures met.  This was the first of 6 planned meetings to discuss potential remedies and to see what role cities could play in helping stop and reverse a foreclosure crisis that some neighborhoods are seeing.

According to Tom Clark, a vice president of Metro Denver Economic Development Corporation, lenders saw potential in Denver and other areas throughout the West with fast growth and rising housing prices.  With that came high risk loans to high risk buyers with housing prices seeing little to no rise.  These forces put Denver and Colorado into the number one spot of foreclosures.

How can Colorado move out of this status?  Job growth!  In 2006 all the jobs lost in 2002 and 2003 were finally replaced. 

For more information and the effects of foreclosures within neighborhoods and the schools visit the Denver Post online.

Foreclosures in Colorado

Posted at 9:25 AM, Jan. 25, 2007

Colorado has the number one spot in 2006 for ..... foreclosures!  This is not the spot where Colorado wants to be.  But Colorado is not the only place that is seeing a high number of foreclosures.  California saw an increase in foreclosure notices of 145% in the fourth quarter of 2006 compared to the fourth quarter in 2005.

In Colorado, one in every 33 households had a filing of foreclosure during 2006.  Following Colorado is Georgia and Nevada with a filing for every 41 households.

Most loans are going into default within 1 to 2 years after the original loan was made with most banks beginning the foreclosure filing when the loan is about 5 months behind.  In Colorado, a higher percentage of properties go from the filing, through the "bank sale", and the transfer back to the bank - 45% compared to below 20% for the National Average.

Some reasons that foreclosures are at a higher rate - appraisers valuing homes higher than market, ability of more people being able to qualify for a home loan, interest only loans, ARMS, 100% financing with low home appreciation rates due to overbuilding, consumers with more debt than they can afford, and other inventive loan programs available.

Foreclosures have an effect on HOA's with dues receipts, housing prices, economy, and the well being of a community.

In Colorado, the legislature is looking for ways to protect consumers from loan and appraiser fraud.  In the long run, the question will be, "Does this help or hurt the consumer when the dream to own a home is just that a dream and can not be a reality?" 

For more information about Foreclosures in Colorado, visit the Denver Post online.

Increases in Rents Seen

Posted at 3:38 PM, Jan. 24, 2007

Something that will make property owners smile - rents are expected to rise in 2007!

Something that will make residents frown - rents are expected to rise in 2007!

It's amazing how one item can make two different groups feel so differently.

In 2007 apartment rents are expected to rise by 19 percent with incentives going away.  Some of these incentives have included free rent, airline tickets, and more.  Why is this happening?

The Denver metro area is seeing more people moving in from California and other areas where the cost of living is higher or where the job outlook is bleak.  With that, residents will come and investors will follow or even will lead taking a risk that the market will get better.  Apartment investors took a risk of $2 billion dollars in 2006 buying apartments when usually only $700 million is spent.

Residents - here is something to smile about.  Today investors are paying over $94,000 per unit compared to over $37,000 in 1996, an increase of 151% while the average rent has only increased 40% during the same time from $607 to $850.  If you are looking at single family homes, the average purchase price for the same time frame has increased 86% from over $133,000 to over $247,500.

To read more about increases in rent, visit the Denver Post's Business Section of January 24, 2007.

Great HOA Resources

Posted at 3:06 PM, Jan. 24, 2007

It is important when you live in and volunteer within your HOA community to have access to different resources.  If your community is managed, you can always ask your HOA Management company but there are times that you would like to do some of your own research and information gathering. 

Are you a Director for your community's Board of Directors?  Have you ever held that position before?  To learn more information about "Your Director Hat, A Guide to Serving as a Director On a Board" by Greg Zadel visit http://www.YourDirectorHat.com.  Greg Zadel has served on many Boards of Directors and is currently the President Elect for the Colorado Association of REALTORS (CAR).  What a great resource from someone that has been there and done that.

Are you perplexed by the different laws effecting HOA's and how they are changing and being modified?  Hindman and Sanchez are attorneys in the Denver Metro area that focus on Homeowner Associations needs.  They have many great resources on their web site, a newsletter that you can sign up for, classes to help you better understand and more.  The information they provide is great for the entire community!

Reserve studies look at your community's common areas and determine what it will take to replace those common elements.  They should look at the life expectancy of those items through a physical inspection.  We all know roofs say they will last 20, 30, 40 years but know that they really don't.  Through a physical inspection, reserve study companies will give the community a better idea when they should expect to replace a roof and the future cost.  Also, they should look at painting of the buildings within the common areas - those areas that have the sun "beating" on them will need to be painted sooner than shaded areas.  A Vantage Properties has worked with Reserve Advisors and have been greatly impressed with the information that they have provided. 

The Community Association Institute is an Association for Homeowner Associations.  They provide resourses for vendors that provide services to HOA's.  They provide education for homeowners so they can be better participants within their community.  For HOA managers, they provide classes and designations.  They also work with the governments on legislations to better communities and associations.

We hear from many living in communities stating that they just wish they knew more information about what was happening.  One great way for a board or an HOA manager to share information in an easy way is through blogs.  Blogs do not require a lot of technical skills, time, or money unlike updating a web site.  Also, information on a blog will last longer than a mailed newsletter that may or may not be read and then thrown away.  A great place to sign up for a blog is through Real Town Blogs.

Have fun exploring these different resources that A Vantage Properties uses in our management of Homeowner Associations.

Unemployment at 4% in Colorado

Posted at 2:06 PM, Jan. 24, 2007

The jobs outlook in Colorado is getting better - Yeah!  I hope that will reduce the number of bankruptcies and foreclosures that Colorado has been seeing.

In December of 2006, 19,500 nonfarm jobs were added in Colorado.  This pushed the unemployment rate down to 4% (seasonally adjusted) which is the best level recorded since August 2001.  The national unemployment rate is 4.5%.  If the unemployment rate is not adjusted for seasonality, the unemployment rate is only 3.9%.

The sector that saw the largest growth in jobs during December is in the leisure and hospitality industry with 12,000 jobs.  The construction and government industries saw declines in their job numbers during December.

For 2006, Professional/Business Services saw the biggest growth in the job market.  The information industry saw job growth stay stagnet or drop just a little.

Additional information can be found online in the Denver Post Wednesday, January 24, 2007 Business section.

Leasing Companies

Posted at 1:01 PM, Jan. 22, 2007

People like to say that Real Estate is local.  That not only includes aspects of buying and selling property but it also includes leasing residential properties.

In some areas of the country, residential properties for lease are listed in the local Multiple Listing Service (MLS).  This allows any agent / real estate licensee with access to the MLS to pull up that information to share with clients and customers.  For someone moving into an area where properties for lease are listed this way, it makes looking for a home easier.

In the Denver Metro area, the MLS system that is used allows for the listing of residential properties for lease.  The problem - very few homes are listed in that section.  Why?  The Property Manager is unable to input them via the computer but must fax in a form to be inputted by the Metrolist staff.  Also, pictures are not an option.  Lastly, these properties are not uploaded like the properties listed for sale are to REALTOR.com and other sites.  This means that homes listed in the Denver Metro's MLS system are only accessed by those that pay for that ability, which is not every Property Manager as they choose not to list and sell real estate as well so do not choose to incur the extra cost.

What we find in the Denver Metro area, those that are looking for a home to lease must talk to many different property managers, visit many different web sites, and / or search the newspaper to locate a home to lease.  This can be time consuming for the person that is moving but is a great opportunity to decide if they want to lease from a private owner or a property management company.  If they lease from a property management company, do they want one that makes it easy to make a decision - one that provides a virtual tour and pictures of the entire home, room dimensions, accepts payments online, an online application, and likes working via e-mail and fax? 

Another item that someone needs to decide moving into the Denver Metro Area, do you want to lease long distance or do you need to come to the Denver Metro Area prior to the move?  There are some property managers that provide all the tools needed to lease a new home from the comfort of your own home. 

If looking through all of the different sites listing homes for lease makes you feel a little confused, don't worry.  There are some companies within the Denver Metro Area that will do the search for you at a charge.  I've had one REALTOR tell me that one company he talked to for his clients charged $600 to search for a home to lease through all of the different sources and then take them around and show them those that met their needs.  I'm sure that there are a few rental search companies out there and depending on your needs and wants may have different prices available.

Just remember, real estate is local.  The search can be the fun part of the move - just decide which way to search for a new home to lease is the best for you!

 

Parker Grocery Shopping

Posted at 2:43 PM, Jan. 21, 2007

Those residents in Parker Colorado will have one less place to shop for groceries in the coming month or two.  The Albertsons grocery store located at 9751 South Parker Road in Parker will be closing its doors in February or March.

Shoppers in Parker will still have King Soopers, Safeway, Vitamin Cottage, Super Walmart and Super Target for their grocery needs.

Xcel Energy Gas Costs

Posted at 2:31 PM, Jan. 21, 2007

In February, Xcel customers will see an increase in their natural gas costs of $0.07 per therm.  For the areas that A Vantage Properties works within, it will effect Highlands Ranch, Parker, and Aurora as well as other Denver Metro areas not served by A Vantage Properties.  Castle Rock in Douglas County and Kiowa as well as other areas within Elbert County will not be effected by this rate change as their gas service is provided by Aquila.

Xcel believes that most people won't feel the impact of the increase in natural gas costs as heating bills will go down if temperatures are normal or close to normal when February rolls around.  With the cold and snow that we've been having so far this winter, I hope that temperature do return to normal soon.  On a happier note, even if the temperatures don't normalize, those with natural gas service through Xcel can take heart in knowing that natural gas prices are down by 20% compared to February 2006.

Stay warm and safe.

Lease Purchases

Posted at 1:24 PM, Jan. 20, 2007

About two years ago, I had many owners start asking me about marketing their home as a lease purchase option.  With so many inquiries, I thought I should talk with the attorney I work with specializing in tenant landlord law. 

The one thing that he stated that really hit home was that he has seen judges rule a lease purchase contract as a purchase, not as a lease.  The resident didn't pay the rent when due and the owner forwarded the file on for an eviction to be filed.  In the courts for the counties that I work within, an eviction, from filing to the date of a sheriff assisted physical eviction is usually 30 days or less.  Depending on the agreement you have with your attorney, it may cost a couple of hundred dollars. 

If a judge looks at the contract and decides that it's not a lease but a purchase, you are looking at a foreclosure process, not an eviction.  This has to run through the specific legal foreclosure process which can take 6 months or more.  Also, you are looking at legal fees that are starting to run into the thousands. 

Is it easier to go one month without rent as an eviction is processed or several months as you process a foreclosure?  That is something that an owner needs to decide on.

What most people will say - that will never happen to me as I screened the residents really well.  Or, they seem like honest people.  And most owners/landlords are right.  But when life throws a curve that no one is expecting, life's bumps in the road can make other things happen.

As a resident, if you enter into a lease purchase agreement, many owners will request a higher deposit and/or a higher monthly rent.  The owner is trying to cover future losses for the above circumstances or other costs associated with the property.  The owner is taking a chance that you will purchase the property.

Also, as a resident, how are you protected that the owner is paying the mortgage with the increased rents that you are paying?  I've had some residents come to me after being in a lease purchase option and the home was foreclosed upon and they needed a new home.  That is not the way anyone wants to loose a home.

If as an owner and a resident it is decided that a lease purchase is the way that all parties really want to go, consult an attorney that focuses on writing contracts that will keep both parties protected.  I've also been told that having a lease that does not mention the purchase and a purchase contract with a future purchase date listed, is another way to keep all parties protected.  Just remember, only about 4% of all lease purchase options are ever optioned to purchase of the home.

Disclaimer: This in no way should be deemed as legal counsel but just generalities in regards to lease purchase options.  It is very important that you work with people that are very knowledgeable in this field to protect yourself and the property.  This is not something that you should use generic forms for as you are talking about one of the biggest investments many people make - a house.

Landlord Service Revert

Posted at 1:00 PM, Jan. 20, 2007

If you are leasing your property, what happens to the utilities when the resident moves out?  Many leases will state that the resident is not to turn off the utilities but many utility companies will not revert service back to the owner's name without a phone call or a written authorization.

While working with the properties that we manage, we have found that IREA (Intermountain Rural Electric Assocation) and Xcel are very easy to work with when it comes to changing the utilities back into the owner's name between residents.  When it comes to Aquila, they are adament about having a revert form on record or they will not revert the utilities.

If you would like an Aquila revert form in PDF or PDF fillable, A Vantage Properties has you covered.  This is just one of the many items we include with our leasing and management agreements for our owners to keep you and your property protected.

To learn more about our leasing, management, and consulting services, e-mail us or visit our web site!

 

For some landlords located within Douglas and Elbert Counties, Aquila

AirLife Helicopters in Douglas County

Posted at 9:45 AM, Jan. 11, 2007

Good news for Douglas and Elbert County Residents!  Two AirLife helicopters have their new home base as Sky Ridge Medical Center.  This will allow quicker access to patients which AirLife hopes will shave 7 minutes off their response times.  For more information visit the Denver Post article of January 11, 2007.

Housing Price Correction Ending Soon

Posted at 9:31 AM, Jan. 11, 2007

In the Business section of Wednesday's (January 10, 2007) The Denver Post there is a great article that discusses that the Housing Correction in prices that we are currently experiencing will be ending soon per economist Carl Tannenbaum.  Tannenbaum reminded his audience at the National Association of Industrial and Office Professionals' annual forecast breakfast on January 9, 2007, even though home prices declined 4% over the past year, home prices rose 60% between 2001 and 2005.

Per Patty Silverstein of Littleton-based Development Research Partners, Colorado's employement grew by 2.2% in 2006 where national employment grew 1.4% during the same time frame.

For the full story visit the Denver Post.

Roof Ice Dams

Posted at 4:17 PM, Jan. 10, 2007

As the Denver Metro area continues to get snow with weather that warms up and then cools back down, ice dams may be found on sloping roofs.  What is an ice dam, how is it caused, and why is it a concern?

Ice dams are created as snow melts, runs down to the eaves that are colder than the roof, and refreezes.  If this cycle repeats over several days, water can pond behind the dam and back up under the roof coverings leaking into the attic or along exerior walls.

If the attic air temperature stays the same as the outside temperature or at least below freezing, ice damming can be prevented.  Research has shown that sun exposure has little effect on attic air temperature.  The usual culprit for attic temperature change is air from the living space below penetrating into the attic.

You can prevent ice dams by keeping the attic cold through installing more insulation in the attic floor, sealing bypasses into the attic, drawing more outside air into the attic through roof vents, and making sure roof vents and gutters are clear.

Even though you are tempted do not use electric heat cables, chop ice off the shingles or out of the gutters, or use a blowtorch which could burn your house down.

If you notice any damage from ice damming, please contact your insurance agent.

If you are residing in a home managed by A Vantage Properties, please let us know so we can work with the owner to find solutions to prevent ice damming in the future.

Stay warm and safe during the upcoming cold snap!

Cold Weather Pipe Protection

Posted at 2:39 PM, Jan. 10, 2007

After 3 rounds of snow storms in 3 weeks, the Denver metro area has another round of snow heading it's way.  With this storm, the forecasters are stating that there won't be too much snow, not several feet, just several inches, but there will be several days of really cold weather.  When cold weather approaches, water pipe (both copper and PVC) freezing is a big concern.  An 1/8" crack in a pipe can spew as much as 250 gallons of water a day.  Do you know ways to keep your pipes safe from freezing?

If there are water lines in the garage, i.e. hot water heater, keep your garage door closed.

Make sure that all hoses attached to spigots are removed with spigots turned off. 

Keep your thermostat at a constant temperature during the day and night.  If you are going to be gone from home, make sure that your heat is set at 65 degrees or above. 

Open cabinet doors where water pipes are located allowing for heat to circulate around the plumbing.  Do make sure that all chemicals are removed from those cabinets to keep your family safe.

If the weather is extremely cold, let the cold water trickle from the indoor faucets where the pipes are on outside walls. 

If pipes do crack / burst, turn off the water to the area and if needed to the entire house.  Contact a specialist to help you mediate the water damage.  Contact a plumber to repair the pipes.  Contact your insurance agent. 

 

AVPs First Blog Entry

Posted at 3:46 PM, Jan. 5, 2007

I have wanted to become part of the blogging world for awhile but hadn't gotten started.  I've decided to jump right in and just get going thanks to Internet Crusade providing this wonderful opportunity to work with blogging in a safe environment.  Thank you Internet Crusade!

I believe with this first entry it would be a good idea to talk a little about who I am and about A Vantage Properties, my company. 

I am Wendy Frenzel.  I am a mom to Heather who just turned 18 and is a senior in high school and hopefully will be valedectorian, and Katharina who turned 5 a little over a month ago and has just been advanced from Kindergarten to 1st grade mid term.  I am wife and business partner to Jeff - we just had our 12 year anniversary.  We have been co-owners of A Vantage Properties for about 4 years with both of us working full time with our company for about 1.5 years. 

I am a REALTOR!  I have my GRI, e-PRO, ASP, and AHWD designations - education is important to me!  Unlike many other REALTORS though, I focus on Property Management, Leasing, and HOA Management.  A Vantage Properties has just started offering non agency consulting services as well as we have some owners that are choosing to select their own residents but don't know how to get started. 

To better serve our clients and their properties, A Vantage Properties focuses on homes located in the Southeast Denver Metro area only in Snowy Colorado.  Right now I can honestly say snowy since it is the 3rd storm in 3 weeks for the area.  Usually though, Colorado is sunny and beautiful!  I don't plan a move anytime soon though.

If you have any questions about Property Management that you would like me to discuss in future blogs, please let me know by e-mail. 

Until next time - stay warm and stay safe!