Broomfield, CO Real Estate News

By Todd Barton
(Your Castle Real Estate)
What is a FICO score? FICO stands for Fair Isaac Corporation, a company that created the most used credit scoring model in the United States.  An individual's credit score is calculated through a statistical algorithm and is used as a factor in determining the likelihood of a borrower defaulting on a loan.  FICO scores are generally used for obtaining mortgages, car loans or consumer credit.  The scores are provided from the three major credit reporting agencies: Equifax, Experian and Transunion.  Typically, there is a variance amongst the scores since each agency has a slightly different scoring formula.  FICO scores range from 300 - 850, with higher scores being considered less risky.  For mortgage lending purposes, any score over a 680 is considered good and above a 750 is considered...
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By Todd Barton
(Your Castle Real Estate)
TOPIC: Improving conditions in Denver's  market There are some signs of strengthening in our Denver market.  The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007.  Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because their property is not selling, but lower inventory implies a strengthening market.  Remember, the Denver area had housing inventory of 31,989 units in July 2006. Home sales rose 14% to 4,265 in September compared to the same month last year.  This is due almost entirely to the lower-end of the market (under $180K) selling like hotcakes. October's median selling price for single-family homes decreased 12% to $206,000 from the same month of '07, and...
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By Sean Mathes
(Your Castle Real Estate)
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
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By Sean Mathes
(Your Castle Real Estate)
      The big message has not changed since last quarter - it's still a great time to be a buyer in the condo market. Prices are at a three year low in many areas, and interest rates on mortgages are still historically low.The average condo price in Metro Denver declined 4% between 2006 and 2007: from $187K to $180K. Homes dropped 3% in that time period. Looking just at the first nine months of 2008 vs. the same time period in 2007, the price dropped 6%: from $181K to $172K. Homes dropped 11% in that time period. From their peak prices in 2006, condos have dropped around 9.5% while homes have dropped 12%. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Fort Collins, Colorado Springs, or Boulder.Some areas did ...
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By Sean Mathes
(Your Castle Real Estate)
    If you have not heard already, the inventory of home on the market in Denver has been declining. This is not true in many regions of the county. Your clients, who often only see national headlines, might not be aware of this favorable news. Our market has some unusual factors at work. Let's explore them, so you can better help your clients.If you look at the first chart (MOI 1), you'll see the MOI (months of inventory) for Denver's suburbs on the bottom axis and the average sales price in that suburb on the axis on the left side. Denver metro currently has about six months of inventory (a balanced market, on average), but you can see there is a lot of variety from one city to the next. Lower cost areas, such as Thornton, are seeing inventory move fast. Sellers (mainly banks) don't ...
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By Amy Ballain
(Red Door Group - Keller Williams Avenues)
It's that time of year when everyone that loves Halloween is in pursuit of the perfect pumpkin. Every year my family piles into the car and goes to my favorite pumpkin picking spot -Rock Creek Farm located in the City of Broomfield Colorado. Rock Creek farm has gorgeous pumpkins and is situated on 100 acres with beautiful Rocky Mountain views. This visit to Rock Creek Farm pumpkin patch has become a tradition for our family and many families we know in the Broomfield and Boulder areas. At Rock Creek there are many things to do besides just picking the perfect pumpkin. There is a wonderful corn maze that the kids and adults can enjoy. There is a farm animal display and an area that has all kinds of pumpkins, squash, hay and cornstalks you can purchase to decorate your front porch perfect...
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By Amy Ballain
(Red Door Group - Keller Williams Avenues)
Dog Daze at the Broomfield Bay Have you noticed the ever-so-popular trend that keeps growing over the past several years?  Pet marketing! Yes, folks we've all seen it in one form or another and I am a big fan since my Boxer dog, Scout, is one of my favorite people I mean things in this whole-wide world. Businesses everywhere are really starting to focus on not just marketing to people's kids but to people's pets. Here are some examples - I love the fact that my vet sends all correspondence in the mail ( except bills! ) addressed to Scout Ballain instead of me. I love that my dog has just as much of a selection of Halloween costumes as my kids do at some stores. I love that dog parks keep popping up all over the place. I love that there are new dog bakeries everywhere. I think it's hilar...
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By Chris George
(Your Castle Real Estate)
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
Is that giant dinasour of a computer monitor STILL sitting in your loft collecting dust? (Oh, that's at my house!) Make an appointment now to get rid of it free of charge this Saturday, October 4. You can email kschaefer@broomfield.org or call at 303.438.6336. I emailed her this morning and she responded right away with a 10:30 appointment. It's for Broomfield residents only and if you'd like to know what kind of Household Hazardous Waste they're accepting click here. You'll need to take your waste to 124th and Lowell, head east (trust me, you'll see all sorts of cars going in) and then follow the signs to the appropriate drop off.
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By Todd Barton
(Your Castle Real Estate)
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
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By Todd Barton
(Your Castle Real Estate)
Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonality)-          DOM dropping-          Stability in average sold prices and sold price as % of list-          Sold price as % original price UP a lot - banks are getting better at pricing-          Number of expired listings down Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as AUN. By contrast look at DSE (southeast Denver County).  -          listings are up (they should be - seasonality)-         ...
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The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000. Comparing 2006 to 2007, the average home price across the metro dropped 2%, from $311,000. The average price of a foreclosure or short sale dropped in that time period -3% to $188,000. The average price of a non-distress sale increased 5% to $370,000. Sales volume over the last twelve months is off -4% for DSF/ASF. Foreclosure and short sale volume is up +31%; non-distress seller volume is off 20%.Some areas did better than others. The attached chart shows different neighborhoods in North Metro Denver. Each region has the neighborhood's name and the percentage of sales in the last twelve months that were either short sales or bank-owned properties. The second line...
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By Todd Barton
(Your Castle Real Estate)
 Here's an analysis of what has happened with home prices in different suburbs around Denver Metro between Jan-May of 2007 and Jan-May 2008: The average home in Castle Rock didn't actually drop 17% in value. Instead, sales volume of the large, expensive homes (those over 4,000 square feet) plummeted 71%, while consumer instead bought many more mid-size homes in the 2,400 - 3,000 sq ft range. Here, sale volume increased 26%. The mix of selling fewer expensive luxury homes and selling many more affordable mid-market homes drove most of the sales price decline in Castle Rock. The average price of a mid-size home in the 1,800 - 2,400 square foot range declined only 1.7%. This is why it looks like home prices are declining in Denver - there are many factors at work.
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By Stuart Dobson
(eLoanRates.org)
Flatiron Crossing Broomfield is about to change  FlatIron Crossing shopping center in Broomfield said Monday that the mall’s outdoor shopping village is about to get a major face lift and three new retailers will soon occupy one of the its largest spaces.  The Container Store and Forever 21 are two of the three new tenants that will occupy former Lord & Taylor space inside the mall. FlatIron, the third-largest mall in the state, has been after a tenant for a long time that could occupy the 120,000-square-foot space that’s been vacant for more than two years. Rather than leasing the anchor space to one store, the company decided to lease the entire 55,000-square-feet upper level to trendy apparel retailer Forever 21, and a portion of the lower level , 23,000 sq ft, to The Container Store...
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
The Broomfield Rec Center is trying to encourage folks to register for classes online so they're offering $5 off the registration fee if you sign up through eConnect through September. You'll need to register for the class out of the Fall 2008 Broomfield Recreation Services brochure which you can get here. What's that you say? You've never been to the Broomfield Rec Center? It's located just north of 128th and Lowell on the west side of Lowell. It's a gargantuan building and you can't miss it. I think they offer approximately 10 million different activities (well, okay, maybe not 10 MILLION) including swimming, rock wall climbing, assorted fitness classes for all ages and so on. Take a video tour of the Broomfield Rec Center right here.
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By Stuart Dobson
(eLoanRates.org)
What happened to the old Broomfield Athletic Club?The Broomfield athletic club building has been completely remodeled as office and retail space.  It has also been renamed The Troy Centre in order to better reflect its current use.  The spaces are modern, bright and maintain some of the old athletic club charm with wood flooring (at least on the lower floors).The building has been split into two floors all the way through with the upper floors being sold as office space and the lower floors as retail or storefront space because they have glass front and each space has its own entry to the parking lots.It's great to see the urban renewal in Broomfield and as usual Broomfield is on the cutting edge in the north Denver Metro region for re-development.  Let's hope this trend continues!
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
Perhaps you've driven past the Krav Maga gym in Broomfield in 120th and Main and wondered, "What on earth is this thing called Kraaaavvvv Maaaggggaaaaa????" (I would spell it out phonetically but I don't even know how.) I know I certainly did at one point and now I'm preparing to take the Level I (or yellow belt as it's loosely known) test this Saturday. Seems hard to believe! For those of you who don't know, Krav Maga is the form of self defense used by the Israel Defense Forces. It actually means "close combat." It's TONS of fun and a lot of work but if you're looking for an excellent workout and to learn some great ways to defend yourself I encourage you to visit the Open House on September 27th and take a free class! You can view their Open House flyer right here. If you do plan to ...
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
If your dog loves other dogs and loves water just as much, you really must take him to The Bay on September 13, from either  9-11 a.m. or 11 a.m.-1 p.m. or 1-3 p.m. Note that the swimming isn't for the humans, just for the dogs. To ensure there is enough space they would like you to pre-register. It's $5 for residents and $7 for non-residents. For those of you who don't know what The Bay is: it's Broomfield's Aquatic Park that is normally open (for the humans) from Memorial Day to Labor Day every year and includes serpentine slides an interactive play structure and an inntertube slide among other things. Unfortunately, I couldn't pay my dog to get in the water much less to get in the water and frolic with a bunch of other dogs, but oh well, hopefully you have a dog who would enjoy this!...
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
There was in interesting article in the Wall Street Journal last week about how home buyers are growing more and more interested in buying a home in an area that is bicycle friendly. If you happen to be one of those buyers you may be interested in Willow Run which backs directly to the Dry Creek Open Space path and has 8 homes available for sale with a price range of $226,000-$273,900.Columbine Meadow is located directly west of Willow Run and has 3 available homes in the price range of $219,900-$229,000.Crofton Park which includes both townhomes and patio homes (and a soon to be built Senior Boutique area for the 55+ crowd) and sits directly north of the Dry Creek path and directly west of Willow Run and has 10 available homes in the price range of $244,900-$344,900. There are 5 avail...
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By Beth Skinner, World class service - with a personal touch!
(Skinner Realty, Inc.)
Of course you don't! That's why you're reading this. But for further proof, I just found out today that Google has a special beta (which means it's still in the "testing" phase but good enough to be tested randomly by the public) search engine for blogs http://blogsearch.google.com/.
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