Jude's Real Estate Rumblings

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Denver Ranked Fourth On Real Estate Investing List

Tuesday, July 15, 2008 - 11:52 AM MDT

Denver ranked fourth on real estate investing list

Denver Business Journal

Metro Denver ranks No. 4 on HomeVestors of America Inc.’s new list of the top 10 U.S. markets for residential real estate investing, released Tuesday.

HomeVestors of Dallas — known for its “We Buy Ugly Houses” advertising campaign — specializes in buying, fixing and reselling houses that need repairs. The company has roughly 230 franchises in 35 states.

The top 10 investment markets, according to HomeVest, include:

1. Dallas

2. Houston

3. Atlanta

4. Denver

5. Fort Worth, Texas

6. San Antonio, Texas

7. Charlotte, N.C.

8. St. Louis, Mo.

9. Milwaukee

10. Chicago/Kansas City, Kan. (tie)

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 12:47PM

Housing rebound: When to spot one

An article from CNNMoney.com, reports that real estate is a local game and your region could be doing better than the country as a whole.  According to the National Association of Realtors, median prices for existing single-family homes in a third of the country's metro areas are actually higher than they were a year ago.  NAR president Richard Gaylord said just as cities moved independently on the way up, they're not moving in lockstep on the way down.  That's why "it's more important than ever to examine what's happening in your city."  One indicator that a turnaround in your market is near is changes in your local job market.  The more new jobs created, the greater the demand for homes.  Conversely, an increase in unemployment, or a persistently weak labor market, can let you know a recovery may still be far away.  Mike Larson, a real estate analyst with Weiss Research said the best signposts to look for are a significant reduction in the supply of homes and a jump in sales.
http://money.cnn.com/2008/07/07/real_estate/price_to_rent.moneymag/index.htm?postversion=2008071604


0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 12:40PM

Zero-energy community unveiled

An article from the Rocky Mountain News, reports that a developer unveiled the 250-unit Geos Neighborhood in Arvada.  The neighborhood is being touted as the nation’s largest net-zero-energy, master-planned community with construction scheduled to begin this fall.  Project developer Norbert Klebl said in a statement, “Geos significantly raises the bar for sustainable residential development.  We’re tapping a market of people who want beautiful, affordable homes that support their commitment to a truly sustainable lifestyle.  People want more than a solar panel here or an energy-efficient appliance there — they want their homes to play a key role in minimizing their carbon footprints — and Geos Neighborhood does just that.”  Priced from the $200,000s, homes in the Geos Neighborhood will range from 860 square feet to 3,683 square feet in a variety of housing types, including single-family homes, live/work townhomes, paired homes, row homes, multilevel condos and co-housing. 


0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 12:39PM

Are You a Real Estate Professional? Maybe Not, Says IRS

From the Realty Times - If you're a real estate investor who has ever taken a real estate loss on your tax return, there is a target on your back. For months, members on my Forum have been complaining about being selected for audit, and losing, based on the IRS's new set of real estate professional guidelines. 

http://realtytimes.com/rtpages/20080717_realpro.htm

 

www.judesandvall.com

2 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 12:20PM

Democratic Convention-week roadblocks Restrictions affect Speer, Auraria Parkway, light rail, but mayor says downtown staying open

As reported in the Denver Post - Two main thoroughfares bordering the Pepsi Center will close during the Democratic National Convention — a move that will affect thousands of commuters and dozens of businesses. Denver Mayor John Hickenlooper downplayed any expected disruptions from closing parts of Speer Boulevard and Auraria Parkway and light-rail access to the Pepsi Center and Union Station. Speer will be open during the morning commute. "We basically kept the entire downtown open," Hickenlooper said. "If you compare this map to what they did in Boston in 2004, we're closing about one-third as many streets." http://www.denverpost.com/news/ci_9902779

 

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0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 10:21AM

Home Buyers Hopeful About Market

An article from Realtor Magazine Online, reports that according to an online survey of potential home buyers, 44% believe the real estate market will improve once the new president takes office.  The survey also found that 81% say they remain nervous about the current market.  A variety of barriers to buying a home were cited by survey respondents:  28% say they are stymied by the cost of a down payment; 20% are concerned about their income level, and 31% (39% in the West) say home prices are still too high.  Also, 78% of the potential home buyers who responded say they are willing to save or earn extra money for the down payment and are willing to compromise on amenities in their new home to make it more affordable.
http://www.realtor.org/rmodaily.nsf/pages/News2008071602


5 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 10:12AM

Habitat for Humanity plans building 'blitz'

An article from the Denver Business Journal, reports that Habitat for Humanity of Metro Denver will hold its 2008 “Home Builders Blitz” Aug. 16-22 in Aurora.  During that time, six local builders will construct four, single-story houses at 18th Street and Altura Boulevard.  Habitat Denver marketing manager Robyn Burns said, “This is an example of builders giving back to the community.”  The Denver Habitat group started in 1979 and has built 320 houses for more than 1,250 people.  The non-profit, affordable housing group plans to build 38 houses this year.
http://www.bizjournals.com/denver/stories/2008/07/14/daily28.html?b=1216008000^1669482


0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 17 2008 10:10AM

Summer Skill-Building Techniques

Summer Skill-Building Techniques, an article from RealtyTimes.com, reports that there are a few ways to help today's real estate agents make the most of their summertime.  First, take a CRS course.  These accredited courses, which may take only one or two days to complete, offer a variety of topics and tools to help brokers and agents fine-tune their skills.  Another way to sail into the second half of the year is to revisit your plan.  June and July are a great time to walk through that business plan you set in motion back in December.  This time of year presents a good opportunity to re-evaluate your plan and talk to your manager, a fellow associate and your family.  Your goals and their goals need to coincide for your best chance at success.  Finally, schedule some deserved R&R.  When times are tough, everyone needs a break, so schedule your days to include some downtime to relax and rejuvenate.
http://realtytimes.com/rtpages/20080714_summerskill.htm



0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 14 2008 11:57AM

Lease rates, new construction see increases

Lease rates, new construction see increases, an article from the Denver Business Journal, reports that despite the sluggish national economy, metro Denver's commercial real estate market held its own in the first half of 2008 because of the area's relatively strong economy, with some kind of improvement in most types of property.  According to recent PricewaterhouseCoopers LLP investor surveys, real estate investment was down for the first half of the year compared to 2007, but investors continued to shop for commercial properties here, making the Denver area one of the top 10 U.S. investment markets for the first time ever.  A midyear survey by the Denver-based Frederick Ross Co. showed more than 1.52 million square feet of office properties alone sold for $200 million in the second quarter, compared to 3.3 million square feet for $529 million in the second period of 2007.  Mary Sullivan, investment broker and executive vice president at CB Richard Ellis Inc. in Denver said, "We're one of the best investment markets in the country, and that's largely driven by the strength of our oil and gas industry.  We're not overweighted in that category, but we have a lot of strength there and a lot of room to grow."
http://www.bizjournals.com/denver/stories/2008/07/14/focus7.html?b=1216008000^1666937


0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 14 2008 11:55AM

FHA's MI Policy Changes Today

Just a quick reminder that effective today, July 14, FHA is changing its mortgage insurance (MI) policy.  In the past, every borrower paid the same up-front MI and the same monthly MI.  Starting today, the MI rates vary depending on the borrower's credit score and the loan-to-value ratio.  Make sure your mortgage broker knows the new rules.

www.judesandvallloans.com

2 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • July 14 2008 11:52AM