Blossoms of Light
Visit the Denver Botanic Gardens
December 2, 2006 - January 21, 2007
Winter is the season to shine bright at Denver’s Incredible Botanic Gardens. Each evening the gardens come alive with over a million lights. Be sure to dress warm and take a stroll through the 17 acres of delightful lights.
Tonight we enjoyed the Botanic Gardens thanks to the hospitality of Starbucks…Thanks for the memories! It was wonderful.
Entrance
Surprising Stats on the Economic Impact of Culture
Visitors to Denver owe thanks to the forward thinking voters in 1988 who approved a one-
tenth of one percent sales tax increase to support scientific and cultural facilities within the metro area. The SCFD (Scientific & Cultural Facilities District) was created to provide funding to scientific and cultural organizations. The results have been bountiful.
Rebuilding Your Life after Foreclosure
Homeowners who have lost their homes to foreclosure will be glad to know there is hope for them in rebuilding their future. The most important thing to do is to start rebuilding a credit history. Mark Flanders a Mortgage Blogger talks about Creative Financing for you in his Active Rain Blog today. Stop by and let me know what you think.
Let’s Compare My Apples to Your Oranges…
Foreclosures are a hot topic these days. Some people say Colorado is #1 in foreclosures, others say it’s not so! Who do we believe and why?
The Boulder Business Journal featured a good story on this very topic, “Is Colorado really worst in foreclosures?” The answer to this question is, “It Depends who you ask!”
Who Keeps the Stats on Foreclosures?
There are three sources on Colorado foreclosure statistics. What is surprising is none of them agree! RealtyTrac out of Irvine, California has given Colorado the dubious distinction of being the #1 State for foreclosures for 8 months straight! The folks at the Mortgage Bankers Association (MBA) puts Colorado in 13th place — behind 11 states and Puerto Rico — in the percentage of total loans in foreclosure as of June 30. And Colorado ranked eighth in foreclosure sales as a percentage of total home sales during the first half of 2006, according to a report published November 16 by First American Real Estate Solutions of Santa Ana, California.
Why Aren’t The Numbers Consistent Among Researchers?
Colorado officials all agree our number of foreclosures are significant. They also agree on the fact there is no set standard for measuring the number of foreclosures, so the numbers are not necessarily correct.
“We are the only public-trustee system in the country; all the other 49 states do something different,” said Denver County Public Trustee Sandy Hume. “There are hybrid-type situations out there where you have sheriff’s sales and sheriffs functioning in a public setting as a governmental officer, but in other states you have a private company managing foreclosure. A private trustee has no public responsibility to report anything.”
“I have no proof either way, but viscerally I think that the fact that we’re the only public-trustee state in the nation may be –underscore ‘may be’ — altering the numbers in our disfavor in terms of displaying higher rates.” Hume said.
The Public Trustee system in Colorado reports foreclosures on day one. In other states a report may not occur until elsewhere on the time line; day one, midway or when the property is completely foreclosed.
Last year 32% of the 22,894 reported foreclosures were later withdrawn, according to 
the Colorado County Treasurers’ Association. Withdrawing a foreclosure means the homeowner found a way to pay off the mortgage or refinance the loan. During this process in Colorado the lender may agree to assist the seller by providing a “short sale” to avoid the high cost of foreclosure.
Another factor that is seldom discussed, Colorado’s homeownership rate is above the national average. Nationally the average is 68.9%, Colorado has a homeownership rate of 71% This higher rate of homeownership puts Colorado in a risker position than states with a lesser homeownerhip rate.
Comparing apples to oranges makes lemons. It’s not good, but it’s not nearly as bad as some would like it to be.
SE Line of Light Rail Officially Open Today
Commuters will be delighted to know the long wait is over. The gala week long celebrations of RTD’s light rail have ended, today the light rail goes into service.
RTD has added 19 miles of new light rail service, 13 new light rail stations, 11 new bus routes, 10 new or expanded call-in-rides, 12 new park-n-ridges and nearly 7,000 new parking spaces.
View RTD’s Comprehensive Website dedicated exclusively to the Southeast Light Rail line; SoutheastLightRail.com
- Maps of the new light rail and bus system
- An interactive map to help you plan your trip
- Light rail and bus schedules
- Fare information, including how and where to buy tickets and passes
- Tools to help you find the light rail station nearest you
- Details on how your commute might change, even if you only take the bus
- Links to help plan your trip on any portion of RTD’s light rail and bus system
Jurasic Leaves at the Pearl Street Station
Please Sign the Petition
Bicycle Colorado is launching a Share the Road license plate campaign to reinforce that bicycles are welcome on roads. Proceeds from each plate will fund bicycle safety education programs across Colorado.
Please follow these two easy steps to help get this license plate approved:
ADD YOUR NAME:
Sign the petition to create Share the Road license plates.
SPREAD THE WORD:
Forward this email to other bicyclists. The more petition support, the better our chances of getting this license plate approved.
The Investors are Coming…
This weekend, my first time home buyers told me their rent was going up $250 a month after their lease expired. Wow! That is a huge jump.
They thought so too. That is why they decided to move up their home purchase plans. They investigated getting a First Time Homebuyers Loan through Adams County. After taking a class in home ownership, they will be buying a home in time to move out before their rent goes up.
What has this got to do with investors coming? Well vacancy rates are DOWN in Denver. After years of property managers giving away free rent, they are now experiencing a new boom…in apartments. Soon there will be a huge shortage, rents are going up, first timers are moving out.
First time home buyers are going to fuel our market….UP!
The Pendulum swings…Read more about Investors are coming, Investors are coming…
Lease to purchase ~ Rent to buy…
The Denver metro market is seeing many homes that are advertised as "rent to own" or "lease purchase."
Typically homes are either offered this way because 1) there is something wrong with them. 2) the market is flooded with homes and the owner needs the income 3) the home is being offered that way so an intermediary can make a premium on the renter NOT being able to buy the home.
To learn more, read the blog at Rent to Own…Deal or No Deal.
Read any good books lately?
Years ago I become engrossed in this book. It was a fascinating story of a woman who had many personalities. Some young, some old some were even male.
Today I find that some people who reside on social networking sites may have this same malady. (is malady a serious enough word to associate with such an extreme, bizare condition?)
Social networking sites are not secure places to hang out. You never know if you are talking to a dog.
So you think a dog can’t type? I have found some people’s pets to be very intelligent. Of course I doubt that a dog would be playing nasty tricks online.
Only people do that. This practice is not limited to women…men do it too.
Yup right here in cyberspace. The truth is stranger than fiction.
Denver Home Sale Statistics
October 2006
Metro Denver Prices:
| Single Family Average Price: (Detached Dwelling) | Oct 2006 | $306,307 | |
| Sep 2006 | $308,903 | ||
| Oct 2005 | $314,586 | ||
| Condo Average Price: (Attached Dwelling) | Oct 2006 | $189,202 | |
| Sep 2006 | $191,006 | ||
| Oct 2005 | $186,981 | ||
| Combined Average Price: | Oct 2006 | $280,551 | |
| Sep 2006 | $283,131 | ||
| Oct 2005 | $285,313 | ||
| Percent of Sales Price Change: from October 2005 to October 2006 | Single Family: | -2.63% | |
| Condo: | +1.19% | ||
| Combined | -1.67% | ||
| Total Combined Number of Homes for Sale: | Oct 2006 | 29,722 | |
| Sep 2006 | 31,450 | ||
| Oct 2005 | 26,828 | ||
| Percent of Change in Available Inventory: (Oct 2005 vs. Oct 2006) | +10.79% | ||
| Number of Combined Homes Sold this month | Oct 2006 | 4,133 | |
| vs. previous month | Sep 2006 | 4,108 | |
| vs. same month last year | Oct 2005 | 4,006 | |
| Average days on Market: (Combined Sales) | Oct 2006 | 102.60 | |
| Sep 2006 | 101.78 | ||
| Oct 2005 | 89.65 | ||
| Absorption Rate: (number of weeks necessary to sell current combined inventory at current rate of sales) | Oct 2006 | 31.16 weeks | |
| Sep 2006 | 33.18 weeks | ||
| Oct 2005 | 29.02 weeks | ||
| Median Sold Price:Single Family | Oct 2006 | $247,600 | |
| Sep 2006 | $243,500 | ||
| Oct 2005 | $250,000 | ||
| Condo | Oct 2006 | $152,000 | |
| Sep 2006 | $156,250 | ||
| Oct 2005 | $157,904 |
This site brought to you by Kristal Kraft, a licensed Colorado Real Estate Broker
