Evergreen, CO Real Estate News

By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
   After 5 years of helping Buyers and Sellers in the Foothills of Denver Colorado, I have a pretty good idea of what the challenges are.  For this post, I will focus on selling a home here in the Evergreen, Conifer, Pine, Bailey, Genesee, Morrison mountain communities. Everyone knows "Location, Location, Location".  That's very true and in the mountains it takes on a number of other variables.  Access, Topography, Elevation, Sun Exposure, Road Maintenance, Non Public Utilities.....these factors, in many cases, carry more weight than the Floor Plan, having Granite, or Views.  Because I have helped so many buyers in the mountains, I feel very comfortable advising my selling clients how these nuances will impact the value of their home. Sometimes it's difficult for a homeowner to understa...
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
I moved to Evergreen, CO in 2003 leaving the hustle and bustle of the California Bay Area.  I now live in the foothills of Denver where there are probably only 35,000 people.  I moved here thinking I'd get to know everyone pretty quick.  I'm very close to accomplishing that.  Recently the organization I'm President of (Evergreen Downtown Business Association) hosted "Breakfast with Santa" at the Lakehouse.  We were told by the 200 attendees that it was the best Breakfast with Santa they've been to and that the services the EDBA provides to the community are very appreciated.  This is great to hear.  Typically the Chamber of Commerce is the face of the community and gets all the credit.  We are a small group of 35 business owners situated in Downtown Evergreen.  We are now getting notice...
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
Well I'm back at the office after a wonderful 4 days with my family in Estes Park, Colorado.  The weather was great, the town was lit up for a holiday parade, and everyone was in a good mood.  I was able to celebrate Thanksgiving and my wife's birthday during this trip.  I made sure all my clients were taken care of before leaving.....eliminating the chance of the typical call to write or accept a contract during a vacation. I'm refreshed and energized to complete the year strong.  Again, I recommend to my colleagues....TAKE a vacation and decompress.
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
This year's Holiday Walk on Friday, Dec 4th is shaping up to be quite an event.  Being President of the Evergreen Downtown Business Association has been a blast.  Having strong people backing me up has been crucial.  This year Santa plans on parking his reindeer at one end of Main Street.  Pictures with Santa & Mrs. Claus will be at the Ice House Cafe.  Business owners throughout downtown will have music, food and fun.   The Evergreen Lake is the place to start for the tree lighting at 5pm when Santa arrives.  Then everyone will walk around the Lake to the Heart of Evergreen. For details on the event and where the entertainment and activities are, visit: www.HeartofEvergreen.com
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
As President of the Evergreen Downtown Business Association, I am excited about this year's annual "Breakfast with Santa and Mrs. Claus."  We're hosting it on Nov 28, 2009 at the Evergreen Lake House at 9:00am.  Last year we had to turn people away because the venue was too small.  This year we expect about 150 parents and kids enjoying their visit with Santa.  We plan to have games going on as Santa has a way of chatting too long at each table.  The kids love it as does Santa. It's a great time and a wonderful community event we put on.  For ticket information, check out www.HeartofEvergreen.com.  They are going FAST!
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
So the year hasn't been that horrific as people have feared.  The foothills, just 30 minutes from Denver, are still a location buyers are seeing as a premium location.  We've had slight declines in most areas.  The once leader in appreciation and minimal declines, South Evergreen took has taken a big hit in median price versus the same period in 2008. Below is a snapshot of how the market is doing in the Colorado Foothills as of Oct 31, 2009.  
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Gen-Xers Group forms in Evergreen This newly forming group is for those in their thirties and forties, whether single, married, with kids or without. Our first meeting will be held in the organizers' home on Sunday, May 17 at 3:00 p.m., with appetizers provided. Possible group activities include hiking, camping and ski trips; dinner parties and barbeques; book clubs and attending cultural events. At our first meeting, we will brainstorm ideas for activities and discuss how we envision this group evolving. Some activities will be oriented toward adults, and other activities will be more kid-friendly, depending on the interest of the group. Please join us at our first meeting to learn more about the group – your kids are welcome to come with you. You do not need to be new to the Evergreen...
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Sunset Ridge and Kittredge in Evergreen Kittredge is a beautiful community just East of Evergreen, CO with a wide range of homes for sale. This video shows a quick overview of Sunset Ridge, a new home community just above Kittredge, overlooking the Bear Creek Canyon, with spectacular views of Mount Evans! The video is amateur at best and pretty shaky with an impromptu script. However, The intent is to give you an idea of the atmosphere of the neighborhood and various streetscapes... The map below shows the homes available for sale throughout both Sunset Ridge and Kittredge. Clicking on a home icon will provide a wealth of details about each home. Search all homes in Kittredge and even Evergreen by clicking on the map! Find out more about Evergreen CO Real Estate
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I've blogged in the past about Denver and the Denver metro being ranked among the best places to live. This is not only my opinion but now a certifiable fact. It turns out that when most people are realizing that the grass is greener elsewhere—they’re thinking about Denver, and they’re right, but probably really picturing Evergreen! According to a new national survey by the Pew Research Center’s Social & Demographic Trends project; 43% of respondents replied that they would like to live in Denver and it’s surrounding metropolitan area-- when I hear someone say "surrounding area" I hear "The Mountain towns west of Denver-- Like Evergreen, Golde, Conifer, Morrison; -- it's probably just too long and awkward of a sentence to publish (except on this blog)-- really-- who would say they want...
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As part of our ongoing effort to Market our homes with as many effective channels as possible we have added an additional resource: Realbird.com This site has extensive photo options and some pretty slick mapping tools. Although we already use Obeo for virtual tours after seeing the additional resources and syndication that Realbird provides I thought I would give it a try. Since I have begun listing 27867 Meadowlark Drive, Golden, CO and it will be coming soon to the MLS and Evergreen and Golden searches-- it makes sense to use as many outlets as possible. Please let me kow your thoughts on the overall presentation and quality of realbird. I'd love to see your comments! -Bob Evergreen Real EstateMarketing Guru (720)273-4262 direct
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
I am very excited about the revamped tax credit for first time homebuyers that was included in Obama's recovery package.  Now that it doesn't need to be paid back to the government, which I thought was ridiculous, I believe more consumers will take the plunge and buy their first home.  Being able to reduce your tax liability by up to $8,000 is a huge benefit.  Given it's the lessor of 10% of the purchase price or $8,000, I'm pretty confident I'll be able to find buyers homes in my market for over $80,000.  My Evergreen market is one of the top areas in the entire Denver Metrolist market for average price ($575,000).  Shouldn't be a problem helping my clients get the full tax credit. Think positive and good things will follow.
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
Because Evergreen & Genesee(Golden) is known for having some amazing Million Dollar properties, I wanted to share with you all how that segment finished the year.  Traditionally, homes priced above a Million are going to take a little bit longer to sell up here.  The Buyer pool is smaller than most places and those that can afford a luxury home have a more critical wish list.  Simply being in a prestigious neighborhood, i.e. Soda Creek or Hiwan in the Evergreen area, does not necessarily mean a Buyer will settle for quirks. Many times it takes a soft consultation to give mountain Buyers a comfort level that will result in a purchase.  As a Certified Luxury Home Marketing Specialist, I am able to listen to my client's needs and offer constructive advice so they feel comfortable.  That be...
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By Chris Vinci, CRS, CLHMS, CMAS 303.679.0360
(da Vinci Realty in Evergreen, CO)
2008 is behind us.  It wasn't all bad in our Foothills community.  Located 30 minutes West of Denver is Evergreen, Genesee, Conifer, Morrison, Pine, Bailey.  Mountain living is unique to many.  Coming from this ex-California boy, it's pretty easy...as long as you have the right tools (snow tires, all wheel drive, and a snow blower). Living here for 5 years now, I can say that I'm a veteran Winter dweller.  That being said, our housing market has seen it's bumps and bruises.  More and more buyers are extremely picky and the littlest things are now causing some buyers to simply wait until the next round of homes that come on the market.  Unlike the flat lands of the Denver Metro area, buyers in the Foothills are concerned about access, dirt v. paved roads, county maintained roads v. priva...
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By Joe Marino
(Your Castle Real Estate)
Investing in Real Estate 5 - Large (5+ unit) Apartment Building This blog will discuss a type of real estate investment, large apartment buildings, in the Conifer area in Denver.   What this investment is:  Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property.  The loans are more difficult to qualify for, and usually a larger down payment is needed.  Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to.  Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you.  This takes reduces the hassle factor of the landlord process. ...
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By Joe Marino
(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 have ...
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By Joe Marino
(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 better ...
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By Robin Lucy
(Your Castle Real Estate)
Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Evergreen area in Denver.   What this investment is:  Purchasing a small home in an expensive neighborhood that may or may not need work.  The home is bulldozed and a new home or duplex is put on the lot.  Alternatively, the existing home is renovated and more square footage is added on.  A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).   Equity needed:  Being able to document your income and your assets will be critical.  For a commercial loan, your net worth should generally be at least as much as the loan you are seeking.  The good news is that the commer...
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By Robin Lucy
(Your Castle Real Estate)
Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Evergreen area in Denver.   What this investment is:  A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium.  Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area.  Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes.  Ideally suited for the sophisticated investor with extensive experience.    Equity needed:  Being able to document your income and your assets will be critical...
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By Robin Lucy
(Your Castle Real Estate)
Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Evergreen area in Denver.   What this investment is:  Purchasing a home that needs work.  The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over.  Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible.  Great for beginners with the right skill sets or the willingness to learn.   Equity needed:  With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too.  Expect a LOT of strings to be attached.  A small local lender might give you 75% of the purchase price and the renovation ...
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By Robin Lucy
(Your Castle Real Estate)
Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Evergreen area in Denver.                        What this investment is:  A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant.  The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame.  Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease.  If you purchase the property, then it's an easier process; if you find a highly motivated seller to...
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