Rueter-Hess Reservoir will add to Parker's recreational opportunities while boasting its water supply

TeamCox Realtors often recommends Parker, Colorado, to our homebuyers since the southern Denver suburb appeals to almost everyone – first time buyers to young families to empty nesters. The charming town and its surrounding neighborhoods offer a unique blend of small-town charm blended with the conveniences of being near a large city.

Yesterday’s Denver Post featured an article about the future Rueter-Hess Reservoir, slated to be 50 percent larger than the Cherry Creek Reservoir, which is under construction near Parker. This reservoir brightens Parker’s already vivid future, since it will add to the area’s existing charm and recreational opportunities, while boasting its water supply. Planning for the reservoir began in 1985, as the Parker Water and Sanitation District sought to improve its long-term water supply.

Projected to be completed in 2011, the  Rueter-Hess Reservoir will provide water to the Town of Parker, in addition to surrounding Douglas County areas, including Stonegate, Castle Pines North and Castle Rock. While the recreation plans for the reservoir haven’t been finalized, there are plans to include fishing and non-motorized boating, including canoes and rowboats. In addition, approximately 2,000 acres of land will be set aside for wildlife, hiking, and biking trails.

Are you thinking about moving to the Parker area? TeamCox Realtors has extensive knowledge of the Parker real estate market, so please free to contact us at 303-400-6060.

Landscaping projects help but sellers shouldn't go overboard with costly outdoor projects

It’s amazing what a few flowers will do for a home’s appeal! In a tight Denver real estate market, every extra thing that a seller can do to help his home stand out from the glut of unsold homes will help. At TeamCox Realtors, we advise our clients that their house must be in top-notch condition for a quick sale. We are currently listing two beautiful homes that are in pristine showing condition. Their overall appeal to buyers is helping them stand out in a competitive market. 

During the spring and summer months, a home’s landscaping is especially important in a tight real estate market. A very informative article, "Outdoor Attraction" by Christian Toto, appeared in The Denver Post over the weekend. It examines the impact of a home’s landscaping on its salability. The article reveals that sellers are increasing their landscaping budgets as the housing market tightens. It brings up a very important point, though. While landscaping projects can help sell a home, it is important not to go overboard on outdoor projects, or you won’t see a solid return on your investment. This is a great point since kitchen and bathroom improvements often yield a higher return than landscaping.

 

While the article mentions installing costly concrete stamped patios or outdoor entertaining areas (keep in mind that a concrete stampled patio can cost up to $10,000), there are more simple things that a homeowner can do to improve the overall curb appeal to his or her home. For starters, try planting some colorful flowerbeds (tulips are beautiful in the spring!) or some new sod to patch up those problem areas. Trees are also a good investment since they are not only attractive, but provide shaded areas that might even eventually improve a home’s energy efficiency.

 

For more information on getting your home ready to sell in a tight Denver housing market, please contact TeamCox Realtors at 303-400-6060. We will help your home stand out from the crowd!

 

 

Our new video newsletter is packed with valuable information on the Denver and national real estate markets

TeamCox Realtors is proud to debut its new video newsletter! This newsletter is updated regularly with valuable information regarding the state of the Denver real estate market, the national housing market, mortgage advice, and much more! It is our hope that you will find this new tool useful while searching for your new Denver home.

Click Here to View TeamCox’s Video Newsletter

For more information on the state of the Denver housing market or to comment on our video newsletter, please contact TeamCox Realtors at 303-400-6060.

Denver Happily Relinquishes Top Spot in Number of Foreclosures

Since the lofty number of foreclosures has been plaguing both the Denver and national real estate markets for the past year, TeamCox Realtors constantly monitors foreclosure numbers and trends. There is good and bad news on the Denver foreclosure front:

The Good News: Thankfully, the Denver metro area is quickly loosing ground in the rankings that measure the number of foreclosures among 100 metropolitan areas. According to a recent report from RealtyTrac, the Denver metro area (including Denver and Aurora) posted the ninth-highest foreclosure rate in the country in 2007.

While this ranking is hardly material for the Denver Chamber of Commerce brochure, the good news is that this ninth position is actually a bit of relief since Denver had the highest rate of foreclosures in 2006, a time when other real estate markets were flourishing. Denver happily relinquishes its top spot to Detroit, Michigan, Stockton, California, and Las Vegas, Nevada. Since Denver saw an increasing number of foreclosures prior to many other parts of the country, there is hope that the Denver real estate market will also see a housing rebound first. 

The Bad News: Despite the lower ranking, according to a recent article in The Denver Post, the number of foreclosures in the Denver metro area still increased 28% in 2007.

For more information on the state of the Denver real estate market, please contact TeamCox Realtors.

Ten Great Reasons to Buy a Denver Home in 2008

1. Selection, Selection, Selection. There are approximately 23,000 homes for sale in the greater Denver real estate market. There are homes in every buyer’s price range with plenty of inventory including single family homes, condos, townhomes, urban, suburban, etc.
2. Fewer Multiple Offers.  If you have ever been in a market where your offer was one of several, giving the seller  the right to pick and choose, this simply is not the case in the current Denver market. Although good homes will still sell quickly if priced correctly, it is very unlikely that your offer will have any competition.
3. Make An Offer. In a seller’s market, your offer had to be full asking price or more  In today’s Denver housing market, the ratio averages 96% of the listed price to the sales price. If the home has been on the market for an extended period of time, the ratio will tilt even further in the favor of the buyer. Most sellers will not be insulted by any reasonable offer.
4. Taking Your Time Is Okay.  When the market is hot, a buyer must be ready make a snap decision. When you found a home that might work, you had to write a full price offer on the spot. However, in today’s market you can more slowly while scrutinizing the available homes and taking the time to fully consider each home’s condition and location. 
5. A Thorough Evaluation. In order make a competitive offer in a hot market, it is not uncommon for a buyer to waive their right to a house inspection, a sewer inspection, an appraisal or even noted house repairs. The seller is king.  This market has a certain degree of calmness and a chance for the buyer to perform complete and competent due diligence.
6. Builder’s Inventory: While the inventory of new homes is certainly not what it has been, if there is a new home in inventory that meets your needs, the builder will do whatever it takes to accommodate a buyer’s wishes including upgrades, changes to the finishes, or even a basement finish.  If it is in inventory, the builder needs to move it
7. You Want What? In a hot market, the home might be sold “as is”.  This market has most sellers willing to fix any reasonably repairable requests. 
8. Little Competition from Investors. While we do see some presence of   investors returning to the Denver market, they are not yet here in large numbers.  Today’s buyer is usually a relocating family or a family with changing needs.
9. Location, Location, Location.  Moving closer in. As Denver has grown and urban sprawl developed, many buyers had no choice but to follow the sprawl and move further out.  We are now working with a few of these buyers who wish to be closer to work, the theatre, restaurants or the new Denver light rail system
10. Real Money Is Available.  The “funny money" that many lenders had gotten into the habit of offering is no longer around. The No Doc, Low Doc, Gee-You-Are-Breathing-Have-I-Got-a-Deal-For-You money is gone.  For buyers with good credit who plan to repay their debt will have no problem getting financed.  Heck, a lot of that easy stuff was for the convenience of the lender.  No Doc meant just that—no work on the lender’s part.  What’s wrong with a 30-year fixed or an FHA loan?  It’s probably in your best interest!

For straightforward answers to all of your Denver real estate questions, please give a TeamCox member a call today at 303-400-6060!

Do Not Confuse the Public with Misleading Websites

In recent years, it has been a common practice for some real estate agents to own a generic looking website that is easily  confused with a local chamber of commerce site. The consumer, who does not readily recognize that the website actually belongs to a real estate agent or mortgage lender, mistakenly believes that the information is totally non-commercial.

Recently, the National Association of Realtors has taken a position on this new kind of site, commonly referred to as a “stealth” site in the real estate industry. These new sites, which are are now clearly against the Realtors® Code of Ethics, should not be used.

The NAR is very clear on their negative position

Article 12 revised

REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. (Amended 1/08)

New Standard of Practice 12-1

REALTORS^® shall not:
Use URLs or domain names that present less than a true picture, or
register URLs or domain names which, if used, would present less than a true picture. (Adopted 1/08)

Any real estate agent that is not clearly identifiable by the information on their website is certainly not an agent that most people could trust to conduct what probably is their biggest investment.

If you have any questions concerning Denver real estate, TeamCox is dedicated to giving honest, straightforward answers.

First and Second Time Denver Homebuyers Need to Keep an Eye on Their FICO Score

Buyers often ask what a FICO score is and why it is important in the homebuying process. A FICO score, developed by Fair, Issac & Company, is a calculated score that determines a borrower’s likelihood of repaying a loan.  FICO scores are kept by three credit reporting agencies, Equifax, Experian and TransUnion. The data collected by these agencies is objective and based solely on factual data but if there are discrepencies in the data, it can be contested and corrected. Credit scores, which range from around 350 to 900, will determine everything from the pricing of your home loan to the rate you are quoted on your insurance. 

So, how exactly is your credit score determined? Your credit score is made up of payment history, outstanding debt, length of credit history, recent credit inquiries and number and types of accounts.  If you are looking to purchase a home and can put off buying a new car, it is a good idea to do so. Homeownership proves stability and credit worthiness while buying a new car may have the opposite effect. 

If you are a first or second time Denver homebuyer who like help in understanding the home loan process, we are here to help.  Please give a TeamCox member as we are more than happy to answer your questions regarding credit scores and about the general Denver real estate market.

Recent study finds that Denver is the fourth most literate city in the country

We all know that Denver, Colorado is a wonderful place to live. Denverites not only enjoy panoramic views of the Rocky Mountains, white Christmases and healthy lifestyles, but a recent report in The Denver Post confirms that Denver residents are also just plain smart!

The Denver Post reported that Denver, Colorado, is the fourth most literate city in the country. According to the article, Central Connecticut State University recently studied 69 cities’ newspaper readership, library usage, Internet usage, etc., and ranked Denver in the fourth highest spot – ahead of the more traditionally intellectual cities of Boston and San Francisco. Minneapolis, Minnesota, was named the most literate city.

According to The Denver Office of Economic Development, the Denver area also boasts the third-most highly educated workforce in the United States. The Central Connecticut State study found that 36 percent of Denverites hold a Bachelor’s degree or higher.

For more information on educational opportunities in the Denver metro area or regarding Denver real estate, please contact TeamCox Realtors.

Denver Residents Wake up to Fresh Snow on Christmas Morning!

Denver, Colorado, was truly a picturesque site today as everyone woke up to a completely unexpected snowstorm. And, the snow just kept falling all day! Many Denver area neighborhoods saw up to 6-10 inches of beautiful fresh powder to compliment their Christmas festivities. Believe it or not, snow has only fallen in Denver on Christmas only 13 times in the last 106 years. Today did not disappoint those who were dreaming of a white Christmas.

While the snow created a glitch in holiday plans, it was truly a wonderful Christmas treat and just one more reminder of why we live in beautiful (and white!) Colorado.

Merry Christmas from TeamCox Realtors!

The Good Work RE/MAX Does for the Denver Area and Beyond

TeamCox Realtors is proud be associated with RE/MAX International, which is headquartered right here in Denver, Colorado. While I was recently checking out of the Sam’s Club at the new Southlands Mall, I noticed a cookbook lying on the checkout counter, “Cooking to Make Miracles Happen." The woman behind the counter noticed my interest in the book and informed me that purchasing a copy would benefit The Children’s Miracle Network. How cool. I could satisfy one of my guilty pleasures (owning one more cookbook!) while helping such a worthy cause.
 
I mentioned to the woman that I am very familiar with the Children’s Miracle Network as it is one of the many organizations that RE/MAX International supports. She was not aware that the RE/MAX world headquarters is located in metro Denver at the beautiful new building at Belleview and I-25. While the building usually boasts the American Flag in lights, it is currently festooned in Christmas lights. She knew of the beautiful building since it is a Denver Tech Center landmark,

What most people do not know is the great work that the RE/MAX company founders, Dave and Gail Liniger do for the Denver community.  In addition to the Children’s Miracle Network, the company supports the Wildlife Experience in Parker, Colorado, the renowned Sanctuary Golf Course in Castle Rock, Colorado, primarily is used for charity events, and the Susan G. Komen Cancer Research Center.  

For more information on the benefits of going through RE/MAX for all of your Denver real estate needs, please contact TeamCox Realtors.