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Denver Real Estate Blogspot

February 2007

Death of a Client

Feb. 24, 2007
Categorized in: NOT Real Estate
Tagged with: client death, client friend

John and LisaLisa came to me a few years ago looking for a "house," though she wasn't so much interested in the house as she was in the land that came with it.  She wanted a place to set up a veterinary clinic for large animals, someplace close to where most of her clients lived.  Lisa was in veterinary school in Michigan preparing for a doctorate in veterinary medicine.  She  had a vision and a dream of providing holistic health care for horses.  She's even written a book on the topic.

But Lisa wasn't the only one in the family who had a vision and a dream.  John, a top ski instructor in Vail, retired from his job there and went to helicopter school.  Lisa and John were separated often as they both pursued their dreams.  They took life by the tail and made it their own.

Lisa graduated with her Doctor of Veterinary Medicine degree, and returned to Denver last fall.  John took a job with Era Helicopters flying employees to oil rigs in th Gulf of Mexico.  John was on 14 days and back in Denver 14 days every month.  It was a difficult time for them both, the frequent separations, the hard work they both put in.  But now they were back in Denver, home of choice.

Except last week John was killed while landing on an oil platform.  I know Lisa is devastated.  I feet totally stunned and completely helpless.  Death has a way of doing that to the survivors..

The raw emotions of grief overtake all who care about Lisa and John.  And I don't know what else to say.  I feel Lisa's loss deeply.

When Do Buyers Buy?

Feb. 23, 2007
Categorized in: Buying a home...
Tagged with: buyer timing, buying a home

There’s a myth out there in the real estate ether that buyers are “sitting on the fence” waiting till condition are more favorable before they buy. In my experience that doesn't’t really happen. Oh, maybe with a few buyers, but not enough to constitute a pattern.

Buyers buy when their own personal circumstances are favorable for buying. Maybe a career move dictates a move. Or maybe they want to buy a bigger house in their own community and put their house on the market hoping it’ll sell quickly regardless of economic conditions. Many are first-time home buyers who will buy when they’ve saved up enough money for the down payment and can now afford the higher monthly costs of home ownership.
 
But I’ve never had a client who waited till economic conditions favor a move. Maybe other agents have a different experience and can talk about it from a different perspective. 

December Snow Affects January Real Estate Market

Feb. 11, 2007
Categorized in: Denver Market Info
Tagged with: january market info
Snow doesn't slow these buyersDenver’s average and median home prices dropped in January after an extraordinarily snowy (and cold) two months. The average price for a single family home dropped from $321,524 in December to $297,368 in January, and for condos dropped from $180,084 in December to $170,440 in January. Both single family home and condo prices dropped from January 2006. Gary Bauer, local real estate broker, says that the January price drop was the largest since he began keeping records in 1985. 
 
But the one-month data is a misleading indicator of where the Denver real estate market is heading. December’s data indicated a downward trend, but when the snow begins to melt and ice-rutted streets are cleared sales data will change. My hunch is that prices will continue to fall, but activity will rise with warmer temperatures and spring weather. Inventory is still high which generally leads to lower prices.
 
My own experience during the snowy holidays and January’s much colder, snowy weather indicates pent-up buyer interest. Buyers Advantage Real Estate’s sales activity in December was greater than during any other holiday season in the last ten years. Buyers braved the cold and trudged through two-foot snow to view homes. None of Buyers Advantage clients had four-wheel drive SUVs. We all made it through the snow-packed, ice-rutted streets with conventional autos. 
 
Despite the weather, some sellers took hard stances on pricing. Buyers canceled contracts when sellers wouldn’t budge on price. They simply walked away and found other houses. These homes are still on the market. Sellers must embrace the reality of the buyer’s market if they want to sell their homes. Scrimping on needed repairs and improper renovations are not the way to a buyer’s heart.
 
With mortgage rates still below 7% buyers can look to good values in February and March. Spring promises to be one of the best Denver real estate markets in decades for buyers

Denver: A Green City

Feb. 2, 2007
Categorized in: Local Denver Information

Denver: Green CityDenver is named as the number 9 city in the nation in 2006 for sustainability by SustainLane, an organization formed in 2004 to provide resources to governments, businesses and citizens interested in green livability.

Add to that today's United Nations' global warming report which finds earlier reports on the state of the globe more conservative than initially thought, and Denver becomes one of the few large cities inland that might be able to withstand the expected effects of global warming and still offer a welcoming and sustainable ambience to present and future residents.