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Congrats Josh Molinaro for becoming one of 5280 magazines 2010 Five Star Real Estate Agent Award!

Josh Molinaro was evaluated by his clients and real estate industry professionals through a rigorous research process that measured customer satisfaction across nine criteria to determine who was this years top agents in customer satisfaction. The FIVE STAR Real Estate Agent(SM) Award Program is entering its seventh year and is run in 18 major markets across the United States. This is the first year conducting the program in the Denver area. The FIVE STAR Award is a significant achievement that is based on a rigorous research process that identifies less than 7% of real estate agents in the Denver area who scored highest in overall satisfaction.

Contact Josh at 303-229-3419 to see how he can help you or someone you know, become one of his many satisfied customers.

Grand Opening at Whispering Creek

Come visit us at the Grand Opening of Whispering Creek @ North Table Mtn.
July 17th 12-5

Custom sites starting at $120k and custom homes starting as low as $500k up to $2 million. Contact Josh Molinaro 303-229-3419 or Tim Miller at 720-212-5874. CREA office 720-880-2288.


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Early Summer Market Conditions

How is the Denver real estate market faring this spring? Recent statistics reveal that has been improving over the past few months.

The Denver housing market has been dominated by first-time homebuyers in recent months, who were taking advantage of the first-time homebuyer tax credit that expired at the end of April. This is evident from the Denver housing market’s March statistics, as the first-timers helped boost Denver-area home sales by nearly 50 percent from February to March, and by 12.4 percent from March 2009 to March 2010. A whopping 70 percent of Denver homes sold in March were priced below $300,000, and 92 percent of them were priced below $500,000.

Denver home prices continued to stack up well against other major cities in the recently-released S&P/Case-Shiller Home Prices Indices. The report indicated a 3.6 percent increase from February 2009 to February 2010. This sharp percentage increase – for the fourth consecutive month – was enough for Denver to have the 5th highest year-to-year price increase in the index of 20 major cities. According to Metrolist statistics, there were 5,907 homes placed under contract in March, a 33.8 percent increase from February.

If you are a prospective Denver homebuyer, the tax credits have expired, but this does not mean that you should stay on the sidelines, potentially missing your opportunity to take advantage of the best Denver buyer’s market in decades. As the market continues to improve, home prices will only increase, selection will decrease, your negotiating power will decrease, and interest rates are already on the rise. If you are a Denver seller, while you will probably not get top dollar for your home this spring, you can potentially make up the difference when you purchase a new home.

Denver’s Jefferson Park Neighborhood

Jefferson Park and the surrounding neighborhood of the same name overlook downtown Denver from its situation in the area known as North Denver. Stationed on a bluff above the city, the park has excellent views over the city, particularly the Central Platte Valley.

Excellent transport links connect Jefferson Park to the downtown area and the rest of the city, and with downtown Denver and Highlands Square within easy reach, there are plenty of nearby opportunities for entertainment, dining and shopping. The main commercial area within the Jefferson Park neighborhood is Federal Boulevard, which offers a good selection of stores and restaurants.

A diverse range of architectural styles can be found in Jefferson Park, due to the gradual way in which the neighborhood has been built up. There are houses dating from the late 19th century alongside those built in every following decade, up until the 1950s, when most of the land had been used. Some modern buildings can be found in the area, but most of the buildings in Jefferson Park date from the first half of the 20th century. There are both apartment blocks and single family homes.

Jefferson Park was incorporated within the town of Highland, which was initially formed after General William Larimer Junior waded across the Platte River to create a town on the opposite shore from Denver, in late 1858. The original town was built around a street known as the boulevard, which has been known as Federal Boulevard since the area was annexed to Denver.

Before they were united, there was a lot of political and social rivalry between Highland and Denver. Highland had been created for the elite, as a haven outside the city where people could live in luxury while working in the city of Denver itself. The mayor of Denver, a man named Wolfe Londener, was so enraged by the superior attitude of the Highlanders that he would not allow a viaduct across the Platte to be constructed unless Highland agreed to be annexed to his city. Access to the employment available in Denver was essential for the people of Highland, and eventually they agreed to be annexed to the city in 1896, becoming North Denver.

As the city and the North Denver area grew, sections began to be called by different names. One of the oldest parts of North Denver became known as Jefferson Park. Jefferson Park grew gradually as the city expanded, until the housing boom of the 1950s, by which time most of the land had been filled. After this, the area suffered from a decline as many of the wealthier residents deserted the neighborhood to move out into the suburbs.

During the late 1990s, the decline of Jefferson Park began to be reversed. People returned to the area in order to be closer to the city center and to enjoy an urban lifestyle. Plans were made for a major new development that would have completely destroyed the area’s traditional character and condemned many of the historic properties, but in 2000, these plans were blocked by a dedicated group of local residents. Under the name of the Jefferson Park United Neighbors (JPUN), the group began to work to improve their local community and ensure that future development remained sensitive to the history and character of Jefferson Park.

The Jefferson Park neighborhood has come a long way since the 1990s, although there are still some underdeveloped areas. These are likely to be rapidly improved, however, in line with the rest of the neighborhood, which now features well cared for streets, lined with trees, and many thriving local businesses. The concurrent development of the Central Platte Valley and construction of attractions such as the Invesco Field Mile High Stadium and the Creekside Retail Center have been a major boon for Jefferson Park, turning it into one of the busiest and most rapidly developing areas in the city.

Jefferson Park was created during the early 20th century on the site of a disused landfill. It was named after Thomas Jefferson in order to compete with Washington Park, another park in the city, which had recently been named. The park is beautifully landscaped and features a basketball court, children’s playground, picnic areas and a picnic shelter.

4.5% Interest Rates

In this morning’s email the lender I work with to help my buyer clients purchase a home notified me that the current rate for a standard 30 year fixed rate loan is 4.5%.  That’s what we all used to get on savings accounts!  And if you’re looking for an FHA or VA loan the rate is even lower, 3.75%.

If you’ve been thinking about buying a house, now would be the time. Prices in the Denver metro real estate market are still low. The average price in May for all single family homes including condos and townhomes was $248,126. For just condos and town homes the average price was $157,566, and for only detached single family homes $273,285. Prices were down for single family homes from April but up from 2009 indicating a rising market. Condos and town homes, on the other hand, were down 8.63% from last year which means you can still buy an attached home at bargain prices.

I Need a Realtor

I recently purchased a home for myself and the one re-occurring thought I had during the process was “I need a Realtor!” Is that an odd statement for a Realtor to make?

Not really.  Some say: The home buyer who represents himself has a fool for an agent. Of course, the temptation and instinct is for the Realtor to ignore that good advice because, after all, “I am good at what I do”.

As a Colorado Realtor, I am completely comfortable with the purchase process, the contracts, valuing a home and negotiating.  There is no doubt that as a professional I have a substantial advantage over the typical home Buyer because of my experience and knowledge.  However, the one service I cannot provide myself is to not become emotionally involved in the purchase.

When Buyers think of hiring a Realtor, I believe most Buyers focus the on the tangible benefits — guiding the Buyer through the process, explaining the contracts, determining home values and negotiating a contract.   But I believe the very important intangible service a Realtor provides might be the most important – not becoming emotionally involved in the transaction.  Purchasing a home is an emotional event for almost all Buyers.  Buyers fall in love with a home.  They walk through the front door and they have a “feeling” that this is the right home for them.

The problem is that when you fall in love with a home, it can be hard to walk away or make tough decisions, if necessary, during the purchase process. I encountered just such a situation during my home purchase.   Before I even wrote an offer on this home I knew that it had had substantial work done to it to correct errors made by the original builder during construction.  I do business in this area and had seen the home being worked on for several months.  I had also talked to several neighbors that knew they were having issues with leaking windows and mold.  It is a very long and complicated story, but through the process of purchasing the home and during the inspections, I found that the Seller had not been forthright about all the work that had been completed on the home and all of the inspections that were done.

At this point I started to focus on my emotions more than on the facts.  I was wondering if there were other items that had not been disclosed that would dissuade me from purchasing the home.  My imagination started to run wild with all the things that could go wrong with the home.  I was tying myself in knots.  I needed the advice of someone who was not emotionally involved in the purchase – I needed a Realtor!

Ultimately, I tried to do for myself what I do for all my clients.  I focused on the facts and not my emotions.  The facts were that I had hired four different inspectors to come and evaluate this home.  I was confident in the expertise of those inspectors and I trusted them completely. Well, I almost trusted them completely.  I might have been more confident and relaxed with another set of eyes looking at the issues from my perspective.

With the testing I had done on the home, there was not anything that could have slipped through the cracks.  I ultimately did the right thing and did purchase the home, but it sure would have been a lot easier and less stressful if I had a Realtor! I came very close to making an emotional decision that I would have ultimately regretted.

I will be a lot more empathetic with my buyers from here on out. It’s easy to forget how much this business requires caring, thoughtful and non-emotional expertise. I just wish I cold have done the same for myself. So does my wife who had live though the trauma and agony with me and my sleepless nights. What a lesson that is to learn.

  • Colorado Real Estate Associates is a proud member of the National Association of Realtors!
  • We are also members of the state's largest professional, voluntary, non-profit, real estate trade association!
  • Active members of the community in which we work, we have joined the North Metro Realtor Association.
  • We are members o f this network of successful REALTORS that empowers women to exercise their potential as entrepreneurs and industry leaders.
  • We search IRES and the MetroList to find you the properties you want to buy!
  • We are proud to have an A+ rating from the Better Business Bureau.

Colorado Real Estate Associates

12001 N. Tejon, Ste. #110
Westminster, CO 80234
P: 720-880-2288
F: 720-880-2310
E: contact@coloradorealestateassociates.com

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