Jude's Real Estate Rumblings

head_left_image

Denver Aims to Ride Out the Recession

Denver Aims to Ride Out the Recession, an article from The New York Times, reports that there are a number of reasons why Denver is experiencing a more mild recession that other parts of the country.  These reasons include: investments in public transportation, aggressive economic development and efforts to diversify the region's economic base from oil and gas to alternative energy, aerospace, technology and telecommunications.  Randy Nichols, president of the Nichols Partnership, spoke at the Rocky Mountain Commercial Real Estate Expo in November about why his company has elected to move forward with the construction of the 500-unit Spire.  He expects the project to attract people that work downtown, but live in the suburbs.  Over the next two years, the areas is expected to see more than $1 billion in public and private investment.

www.judesandvall.com

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:41AM

Denver's home-resale market shows signs of life

Denver's home-resale market shows signs of life, an article from The Denver Post, reports that Denver's resale market has exhibited signs of finding its balance with supply falling sharply and homes selling a bit faster.  Last year, the inventory of unsold homes dropped 20.3%.  Lower prices and mortgage rates are luring buyers to the market.  While median sales prices are down, this is due in large part to the fact that fewer expensive homes are sold during a weak economy.
http://www.denverpost.com/headlines/ci_11401816

www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:28AM

Mortgage applications surge

Mortgage applications surge, an article from CNNMoney.com, reports that record low interest rates are driving the demand for home refinancing loans to the highest level in more than five years.  Since the Federal Reserve unveiled it's plan in late November to buy up to $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac and Ginnie Mae, 30-year mortgage rates have dropped dramatically.  "Many experts agree that rates will stay relatively low for at least the next few months since the federal government is now committed to buying mortgage-backed securities to keep borrowing costs low.  But the future of rates isn't certain, so locking in these low rates now is a smart move," said Spencer Rascoff, chief operating officer at Zillow.com.
http://money.cnn.com/2009/01/14/news/economy/mortgage_applications.reut/index.htm?postversion=2009011408

www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:26AM

Foreclosures in metro Denver decline 11.8 percent

Foreclosures in metro Denver decline 11.8 percent, an article from Rocky Mountain News, reports that the Denver area has experienced it's first year-over-year decline in foreclosures in at least 12 years.  While the country is mired in a foreclosure crisis, the Denver area is bucking the trend with an 11.8% decline in foreclosures in 2008 over the previous year.  "I think it is a sign of times.  I think the market is ready to start on the upward track," said Mike Rinner of the Genesis Group.  Carol Snyder, public trustee for Adams County notes that more lenders are now working with borrowers to avoid foreclosure. 
http://www.rockymountainnews.com/news/2009/jan/14/foreclosures-decline-118-percent/

www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:25AM

NAR Reiterates Plan to Jumpstart Housing Market

NAR Reiterates Plan to Jumpstart Housing Market, an article from Realtor Magazine Online, reports that Charles McMillan, the National Association of Realtors president, spoke before the House Financial Services Committee on Tuesday.  He expressed the importance of restoring confidence in the housing market.  McMillan feels that H.R. 384, the TARP (Troubled Asset Relief Program) Reform and Accountability ACT reinforces NAR's proposed recovery plan - stimulating housing investment, mitigating foreclosures, helping current home owners and providing much needed liquidity to commercial mortgage markets to ensure that financing is available.  NAR wants to ensure that TARP does what it was originally intended to do - end the credit crisis and jumpstart mortgage lending.
http://www.realtor.org/RMODaily.nsf/pages/News2009011402
www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:18AM

Denver Metro housing holding its value

Metro housing holding its value, an article from Rocky Mountain News, reports that the Denver-Aurora metro area has less than a 1% chance of declining in value over the next two years, according to a recently released national report.  The report is expected to spur investment in the local real estate market.  "In the last couple of weeks, I have been hearing that some very large and fully capitalized hedge funds and opportunity funds are aggressively wanting to make deals in Denver," said Mike Rinner of the Genesis Group.  The report ranked Denver as the 10th least risky of the 50 largest metro areas - the spread between the 10 least-risky markets is statistically insignificant.  This is outstanding national press for Denver!
http://www.rockymountainnews.com/news/2009/jan/15/metro-housing-holding-its-value/

www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 15 2009 10:17AM

Jude Sandvall's Real Estate Advisor

Jude T. Sandvall


RealEstate.com

Featured Articles

Let It Snow! But first... Some Winter Safety Tips

Preparing your home and property for cold weather conditions and responding to them effectively can reduce some of the effects caused by winter's weather challenges. Experts agree that the following measures can be effective in dealing with the effects of severe winter weather:

  • Have your snow removal equipment serviced and ready for action.
  • Have rock salt on hand to melt ice on walkways.
  • Make sure your walls and attic are properly insulated.
  • Caulk and weather-strip doors and windows.
  • Install storm windows or cover windows with plastic from the inside.
  • Have an ample supply of wood if you have a fireplace.
  • Have safe portable space heaters available.
  • Wrap water pipes in insulation or layers of old newspapers to keep from freezing.
  • Let faucets drip a little to avoid freezing.
  • Know how to shut off water valves.
  • In case the power goes out, have disaster supplies on hand such as a flashlight & battery-operated radio (and extra batteries), a first aid kit and extra blankets & sleeping bags.
  • Develop an emergency communication plan in case family members are separated from one another during a winter storm.
  • Teach children how and when to call 9-1-1, police, or fire department, and which radio station to tune to for emergency information.

Winterizing Your Vehicle

Preparing your vehicle for the winter season is one of the most important keys to safe winter driving. Have a mechanic check the following items on your car before the temperatures drop.

  • Battery
  • Ignition System
  • Lights
  • Exhaust system
  • Brakes
  • Oil Level
  • Antifreeze
  • Thermostat
  • Flashing hazard lights
  • Heater
  • Defroster
  • Tires/tread
  • Wipers and windshield washer fluid
    •

Also, be sure to keep a windshield scraper and small broom for ice and snow removal, and maintain at least a half tank of gas at all times during the winter season.

 

Before Severe Weather Strikes

Know how the public is warned (via siren, radio, TV, etc.) and the warning terms for each kind of disaster in your community:

WINTER STORM WATCH
Be alert, a storm is likely

WINTER STORM WARNING
Take action, the storm is in or entering the area.

BLIZZARD WARNING
Snow and strong winds combined will produce blinding snow, near zero visibility, and deep drifts.

WIND CHILL
Seek refuge immediately.

WINTER WEATHER ADVISORY
Winter weather conditions are expected to cause significant inconveniences and may be hazardous, especially to motorists.

FROST/FREEZE WARNING
Below-freezing temperatures are expected and may cause damage to plants, crops, or fruit trees.
 

Winter Car Kit

  • Flashlights with extra batteries
  • First aid kit with pocket knife
  • Several blankets
  • Plastic bags (for sanitation)
  • Matches
  • Extra set of mittens, socks, and a wool cap
  • Small sack of sand for generating traction under wheels
  • Small shovel
  • Tool kit
  • Booster cables
  • Brightly colored cloth to use as flag
    •

The Trivia Block

True or False? It must be 32F, or colder for it to snow.

False. It has been known to snow with the temperatures in the mid 40s. That's because the temperatures are below 32F up in the clouds where the snow is forming.

 

Click Here to unsubscribe from future emails

RealEstate.com | 8101 E. Prentice Avenue Suite 510 | Greenwood Village | CO | 80111

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 14 2009 04:17PM

Jude's Househould Hints - Save Money on Your Heating Bill

Click Here to unsubscribe from future emails

RealEstate.com | 8101 E. Prentice Avenue Suite 510 | Greenwood Village | CO | 80111

0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 14 2009 04:16PM

Don't Miss Tax Deductions On Your Real Estate Investment

Don't Miss Tax Deductions On Your Real Estate Investment, an article from Realty Times, reports that investors should focus on five areas to make sure that they're not losing money when it comes to taxes.  The first area involves taking advantage of depreciation deductions.  You can either write-off the entire value over 27.5 years or depreciate assets within the property that are short-life depreciation expenses.  The short-life method can result in costs being recovered at twice the rate applicable to the real estate property.  Only 13% of investors take advantage of this.  Next, keep track of your travel to the property - it's a write-off as well.  Tax preparation can also be written off.  Document improvements versus repairs.  Repairs can be expensed.  The fifth and final area is casualty and damage to property.  Casualty expenses can be written off.
http://realtytimes.com/rtpages/20081226_missdeduct.htm


www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 07 2009 03:30PM

Caretakers move house sales along

Caretakers move house sales along, an article from The Denver Post, reports that some homeowners are employing an unusual strategy to help sell their homes faster.  Denver-based Caretakers of America provides homeowners with a solution to keep homes occupied while they're on the market.  They arrange for strangers to live in homes that are listed for sale, but would otherwise be vacant.  These individuals provide their own furnishings, take care of the house, disappear for showings and quickly vacate the home once it sells.  The caretakers pay a fee to Caretakers of America - usually between $500 and $700 - considerable less that what they would typically pay as regular renters.  A similar service is offered by Show Homes, a Boulder franchise, which cites statistics indicating that occupied, furnished homes sell for 10 to 20% more than vacant homes. 
http://www.denverpost.com/business/ci_11317751

www.judesandvall.com
0 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • January 07 2009 03:29PM