The sun, setting over the mountains, and the sound of birds painted the backdrop for my Sunday walk. It had been a glorious day in Denver, lots of people out enjoying the warm spring weather. Just thinking about it made me smile. I love taking Sunday evenings for myself and this last weekend, it was a fabulous walk along the Westerly Creek Dam.

If you are looking for a little space and a great view, treat yourself this week and stop by Lowry, the former Denver Air Force Base. Drive north on Fairmount Drive from Alameda Avenue just past the AMLI Apartment Complex and turn right on Sports Avenue. Find a place to park. Not far from where you turned in, you will find a path that leads up the hill to the top of the Westerly Creek Dam. The dam was built by the Army Corps of Engineers to manage for a 500-year flood. It is 45 feet high and 1.5 miles long.

Facing north and west, you have a wonderful view of Lowry and the mountains. If you look east and down, you will find the wetlands where you can see hundreds of birds. Right now, the area has lots of water. Fox, deer and other critters make the area home, including the golfers that play the Mira Vista course. You can even see the new hospital buildings at Fitzsimons in the distance.

Walk, jog or even ride your bicycle on the path. If you are looking for more intense sports, the soccer and baseball fields beckon along with the possibility of playing ice hockey at the Big Bear Ice Arena. For me, a walk will do. If you get the chance, I encourage you to take a walk Lowry style. You won’t be disappointed.

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Just recently I had the pleasure of visiting Miami. While I was there for a conference, I had the opportunity to walk on the beach, drink mojitas and eat my fill of seafood. While I am definitely a Colorado girl, (Seven Reasons I Love Living in Denver ), I have to admit that the ocean fascinates and relaxes me. It doesn’t matter where I am, Lahinch, Capetown or Miami, I have to stick my feet in the ocean.

I was amazed by the amount of new construction in the area. There are condos galore. South Beach and Miami Beach were wonderful with diverse groups of people, amazing music and fabulous restaurants. Just a couple miles away is the Rusty Pelican where I had a fabulous dinner with Florida friends.

It made me consider where I might want to live when I retire. Now, I love the seasons and Colorado will always be home, but it might be fun to be one of those snowbirds who heads to warmer shores when the snow gets too deep. Did you know that in 2004, more than 40% of homes that were sold were second homes? About half of those owners bought in a place where they intended to retire. USA Today reported on it last year. According to a Realtor in Summit County, Colorado, where there is amazing skiing and summer sports, the market is hot. I don’t have the statistics, but it wouldn’t surprise me if we find out that many people are buying second homes there.

As a Colorado girl, living in one of those multi-million dollar mansions on the water near South Beach for awhile might be a wonderful treat. I’m not sure I’m willing to settle down in one spot for an extensive period of time. I think I’d like to rent a villa here and a castle there. Still, amazing places abound around the country and even around the world where it would be nice to settle in and stay awhile.  

 I know some great Realtors in Miami in case you are looking. Or…better yet, if you are looking for a second home in the west near the wonderful Rocky Mountains, give me a call.

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I’m planning on buying a house later this year. Does the fact that I’m a Realtor change anything?

How does a Realtor buy a house?

1. Review my credit report
It is important to check my credit report several times a year for a couple of reasons. First, there may be inaccurate information that needs to be corrected and second, and even more importantly, to make sure that no one has fraudulently used and trashed my credit. I need to review and correct any discrepancies.

2. Contact my mortgage professional
I need to be prequalified for any property that I am interested in making an offer on. Even in this tough market, sellers don’t want to risk committing to a deal that a buyer cannot afford to complete.

3. Determine my needs
What are the features that I need to have in a house? With thousands of houses on the market, I don’t want to waste my time looking at houses that will never be a good fit. By narrowing the search, I can make the most productive use of my time and find the right house before it is under contract with another buyer.

4. Visit the houses that make my list
I take my list of needs with me as I evaluate each house. Does it meet all of my needs or at least most of them? Sometimes one feature is so above my expectations, that I can live without something else on my list. I also bring my digital camera to help me differentiate between houses.

5. Make an offer
Before I craft an offer, I look at comparable sales. What is a fair price? Properties can be overpriced and I don’t want to pay more for a house than what the market reflects. I also look to get a good deal since I see my house as a long term investment. The current market is ripe for getting a wonderful house for a great price. At this point, I try to determine the most I will pay for the house.

6. Negotiate a price
One of the hardest things to do when purchasing a home is to separate the negotiation from any emotional attachment to the house. If I have already decided what is the most I will pay, it makes it easier to walk away if the deal is not right. If we are really close in numbers, however, it is not worth losing a great house over a small difference.

7. Complete the necessary steps to complete the purchase
I’ll make formal application for my loan and review appraisal, title and homeowner’s association paperwork as it arrives. I’ll also pay close attention to any deadlines that are identified in the contract to make sure I stay within all those dates.

8. Schedule the inspection
I call one of the inspectors that I work with on a regular basis and get the inspection scheduled and completed. Are there issues that could cause me grief? I’ll ask the sellers to either pay for or repair any major items that are identified. If the problems are minor, I’ll usually take care of them myself after closing.

9. Review closing figures
I like to have my closing figures at least a couple of days in advance so I have time to review the accuracy of the numbers. It is difficult to get the figures early if you are closing within a few days of the end of the month, so I’ll schedule my closing at least a week prior to the end of the month.

10. Close and move
After the boxes are moved and the furniture is in place, I climb into my easy chair with a glass of wine and enjoy my new surroundings. 

The process we use as a Realtors when buying our own home is similar to the one we use when helping clients buy theirs. The same professionals we trust throughout our purchasing process are the same ones we recommend to our clients. We want your home buying experience to be as successful as our own. So while I oversee the process when I buy my home, I assist my clients with successfully navigating the home buying process. The only difference is modifying the process in order to fully meet the individual needs of my clients.

I plan to begin my home buying process in the next month or two by ordering a copy of my credit report so I can review it to make sure it is correct. By starting early, I’m looking forward to finding a great home. That’s how a Realtor buys a house.

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The jury is still out on how close the Denver housing market is to recovery. I read an interesting blog article written by Jay Burnham who is a VP with Coldwell Banker in Massachusetts titled, Knowing Exactly When the Market Will Change. Jay’s conclusion is that “when we have more homes that are selling than are coming on the market, the trend will have reversed and you can expect the return of an appreciating (Seller’s) market.” These numbers should be reflected in a minimum of a three month trend.

So how does our Denver metro real estate market stack up?

Tracking back through January of 2004, we have had 0 months where more houses sold than were put on the market. That is a pretty staggering statistic.

The first quarter of 2007 for single family residences the statistics are as follows:

January- 2,667 houses sold with 7,325 homes hitting the market.

February- 2,413 houses sold with 7,195 homes hitting the market.

March- 3,315 houses sold with 9,575 homes hitting the market.

Almost three times as many houses are coming on the market as the number that sold during the last three months. Since we are looking for a ratio that reflects more sales than listings, it appears that we still have quite a way to go before we are back in a seller’s market. However, the market can change quickly.

I’ll be reporting on sales to listing ratios throughout the year. The jury may still be out, but by keeping track of the conditions, we should be able to get a good idea of whether the market is recovering or staying the same.

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The whine of the chain saw and the roar of the wood chipper disrupted the quiet Lowry Village neighborhood last week when numerous twenty to thirty foot trees were chopped down. It took almost eight years for the trees to grow the height of the houses and in less than 15 minutes per tree, they were gone.

The builder, Village Homes, planted the trees too close to the houses and now that they were much larger, there were concerns that foundational issues and damage to homes would occur if the trees were left in the current locations. There were no options left to the Homeowners Association other than to cut the beautiful trees down.

While it is definitely a loss to the neighborhood, the trees will be replaced with others that fit the available space. Whether or not Village Homes will reimburse the homeowners for the cost of removal and replacement is still to be determined. While some of the trees had to be cut down, other maturing trees still remain. Diane Carman with the Denver Post wrote about the issue in an article published last month.

The Lowry Village homes are part of the former Lowry Air Force Base in Denver. When the Lowry Air Force Base was decommissioned in the 1990’s and development began, the Lowry Redevelopment Authority did extensive planning with the assistance of the local community. The development of the former Air Force Base has lived up to the expectations receiving numerous awards. The fabulous Lowry Town Center has wonderful stores and restaurants. If you are looking to move to a fabulous neighborhood, don’t overlook the Lowry community.

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As I pulled up to the house, I noticed the seller and his two sons standing out in front. When I walked up I was told that the Denver Fire Department was on the way since the house was on fire.

“What?”  I thought maybe I hadn’t heard things correctly.

The owner repeated that the house was on fire. The sound of sirens in the background confirmed the situation. Several fire engines pulled up and four or five firefighters with axes in hand hurried in the front door. I’m not normally speechless as many of you may guess, but this was one of those times. There was no visible smoke and everyone had safely made it out of the house.

This was the day that the inspector was coming to go through the house to confirm whether or not the house had any significant issues. We were already under contract and anticipated closing in a couple of weeks. I’m thinking a fire is a significant issue. I’m sure the seller, getting ready to move, was not too happy about the situation either.

I called my buyers. Scott answered the phone and just laughed. Now I was really confused. I wasn’t too sure that this was funny yet. 

About that time, the firefighters came out of the house. They’d made sure the fire was out and had opened all the windows. It would be safe to go inside in about fifteen minutes after the fumes had dispersed. The trucks pulled away and there we stood.

Shortly thereafter, my buyers and the inspector arrived, disappointed that they had missed the firefighters.

We went inside and viewed the area where the fire had started. A pipe had frozen while the owner was out of town and he was trying to warm up the area when the drywall and insulation caught on fire. With the pipes frozen, they had no water to put it out. Thankfully, there was only minor damage.

When I asked Scott why he laughed when I told him about the fire, he said it had just been one of those days and somehow, a fire in their soon to be new home, was not unexpected.

The inspection was completed, the damage was repaired, the seller moved and my clients closed on a wonderful home with a great story included.

These kinds of things happen in New York, too. Anthony DiMattia, a Realtor in Rochester, NY, talks about it in his blog Seller Fell Through the Ground at Home Inspection. Anthony inspired this post.

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Located in a fabulous neighborhood within walking distance of Cook Park and the Highline Canal Trial, this rare 2300+ square foot contemporary ranch is awaiting your design touch. Escape from the daily grind in a private backyard with plenty of space for gardening or just watching and listening to the birds. It is centrally located about twenty minutes from both downtown Denver and the Denver Tech Center. Pour yourself a glass of wine at the wet bar and cozy up with family and friends in a family room with the fireplace centered on  a custom curved wall.

In a day and age of cookie cutter houses, this is your opportunity to own a unique home. The house boasts 3 + 1 bedrooms, 4 bathrooms and a non-conforming mother-in-law space in the basement with a separate entrance. Houses in the area are being renovated and range in price from the $700,000’s to over $1,000,000. The lot is 9,790 square feet. If you are willing to put in a little work for a showcase house, this is the home for you. Click here to see more information.

$375,000

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The tulips and daffodils are just getting ready to burst at 424 Franklin Street in Denver. If you are looking to live in a house designed for your lifestyle while still  honoring the great history of an established neighborhood, this is the place.    Located in a premier area of Denver, the home has wide open spaces to entertain in your epicurean kitchen and oversized dining room. You have the ability to host small cozy dinner parties or grand events in comfort. The master suite is elegant in its design with a spacious closet and a master bath with jetted tub and oversized shower. The additional upstairs bedrooms are large and share a jack and jill bathroom. There are five bedrooms and four bathrooms in this 3,900 square foot home. The lower level is designed for your entertainment with a reading area, guest suite and open room for media events. 

Click here to see more photos and a virtual tour.

We’ve worked hard to give you a wonderful home in a fabulous neighborhood just blocks from the Cherry Creek Shopping Center, Cheesman Park, Denver Country Club and walking and biking trails.

$1,000,000

Call me 720–260–3133 to set up a private showing.

You can read more about the renovation of this incredible home at:   Steps for a Historical Renovation Lessons Learned on Renovating a Historic Home for Resale

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It’s amazing how credit scores impact areas of our lives. Our credit scores can make the difference in whether or not we qualify to purchase a home, our interest rate when we buy a new car and even the cost of car insurance.

If your credit isn’t where you’d like it to be, there are ways to improve your score.

 

1. Pull your credit report. Print it out so you can review it carefully. Is all the information correct including name, social security number, prior address, etc? Go through the accounts. Are there any areas that show late payments or collections? Look at the inquiries and where they came from. If there are any areas that are inaccurate, dispute the errors.

Equifax
www.equifax.com
800–685–1111

Experian
www.experian.com
888-397–3742

Trans Union
www.transunion.com
800-888-4213

2. Pay your bills on time. This is where online bill pay services come in handy. If you have difficulty remembering when bills are due, set payments up on the online service at your bank. In many cases, it’s a free service. If this system does not work for you, set up a monthly calendar that is located in a visible place and pay attention to due dates. Whether we receive a statement or not, we are required to pay our bills on time to maintain and improve our credit scores.

3. Pay down your debt. Don’t transfer debt around, work to pay down each account to 30% or less of the credit limit. Your score is based on having lower balances in comparison to your credit limit. Make a dent in your debt.

4. Don’t close credit card accounts. The older the account, the more it will add to your credit score. Now is not the time to open new accounts. They may count against you. We don’t need to use the older cards, just keep the accounts open. The limits on those accounts will apply to our total available limit and that may show a lower debt ratio.

5. Apply for credit sparingly. If you already have a number of credit cards, you may not need another. If, however, you need to purchase a car, you will have to apply for credit. Don’t open a lot of accounts within a short period of time. We should keep the old and refuse the new whenever possible.

Even if you are not ready to make one of the large purchases in life, now is the time to improve your credit score. In the long run, it will make your life easier and cost a lot less money.

If you’d like more information on how to improve your credit, attend our free home buyer seminar, Claiming Your Space, on April 25, 2007.

I also encourage you to check out the book, Your Credit Score written by Liz Pulliam Weston. It is a wonderful book packed with solid information on how to build and repair your credit.

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