There is an organization in its nascent stages in Washington Park and its objective is to build a group that would be supportive of seniors and others in need of assistance in our neighborhood. The concept has been successful in the Beacon Hill neighborhood of Boston and in other cities around the nation. Wash Park Cares Organization “Washington Park Cares” proposes to organize volunteers and neighborhood seniors into a cohesive group that would provide transportation to those that need it, a social network for those alone, and an approved list of service providers who have proven to be reliable to… Read More
By Michael Canon The information available on the condition of the Denver metropolitan area real estate market implies that some segments are doing better than others. “Foreclosure sales are booming” and “High demand for low-end homes,” are some of the recent story lines. Is there is a segment of the non-distress market that is vibrant and healthy? The lowest levels of inventory of the 400 neighborhoods in the Denver metropolitan area are in the price buckets below $325,000. For example, in the chart below you see the months of inventory (MOI) for foreclosures and non-distress sales by price bucket. Months… Read More
By Michael Canon The real estate industry in the Denver market might be a case study through which interested folks might learn about the opportunity presented by the real estate crisis. Perhaps the government should just let the private sector move us out of this crisis. It seems to be proceeding nicely and with great aplomb in Denver. Despite the positive impact investors are having in the revitalization of neighborhoods with a high percentage of foreclosures, the Federal Government, through HUD’s Neighborhood Revitalization Program, has offered the City and County of Denver $6 million to do exactly what the private… Read More
Stewart Title’s Chief Economist and the Denver Metro Chamber of Commerce Economist recently held a public discussion of the economy at the Jefferson County Board of realtors. They foresee the housing market in Denver as “returning to normal,” with “normal” being defined as sales volume in 2003. They project price stability to arrive in 2009. We believe that prices will still decline as the entry of the last of the foreclosed sub-prime mortgages, combined with the continued slowdown in sales of +$500,000 homes make for a lower average sales price. We expect unit sales volume to decline by 2.5%. What… Read More
What’s the Process? Many families are enamored of the idea of remodeling their Washington Park homes. “If we could only do this…” If we could add that…” “Wouldn’t that be nice here…?” Yet taking on a remodeling project is a task of monumental proportions for a family and it is one that should never be entered without rigorous preparation. The ultimate goal of home remodeling will always be to improve the value of the home and to generate the feel and to have the use the family desires.. Remodeling in Washington Park is an inexact science that involves tastes, needs,… Read More
A listing for a home that is for sale in Washington Park will often include the word “remodeled”. That can mean many different things. The key is to look for the updates that have been made that add the most value to the home. Without spending a small fortune, there are some smaller scale updates that can make a home very appealing. Remember that value is controlled by the person with the checkbook, not the seller. There are a lot of homes in Washington Park that date back to the early 1900′s. An easy way to blend old world charm… Read More
We have reviewed the following steps: Generate a written document that captures the “meeting of the minds” of the stake-holders in the project and get agreement on it with them and with the general contractor. Get detailed architectural plans drawn Investigate costs and availability of fixtures, materials, parts, and accessories. Chose paint quality and colors. Hire your general contractor after a serious review of references and past projects. Determine a communication plan that includes who will communicate what and when. Now we will discuss taking it to the end. Define the start date and the end date. Identify milestones at… Read More
Buy Low, Sell High Historically, 63% of households in the United States own their own homes. Recently, that percentage has risen to 69%, a 6% increase. More families were able to enter the real estate market to purchase a home in the last few years because of the sub-prime mortgage market and Adjustable rate Mortgages (ARMs) that used “tickle” rates. Tickle rates were typically in the 2-3% range for the first 2-3 years at which point they “reset” to the market rate. A large percentage of these loans were used to buy homes under $250,000 in value. Not only were… Read More
“The sky is falling, the sky is falling! I must run to tell the king!” These are the headline “acorns” that bounced off of Chicken Little’s head: Existing-home prices, sales fall in January, but so does inventory Metro home sales are down 13.7% Sales of existing homes are down across the nation Journalists are great at creating headlines and getting you to read on. But they are not so skilled at drilling down into the data to determine what is really happening. A headline I like to write is: You Can Drown in a Lake that Averages 6 Inches in… Read More
The Washington Park East Neighborhood Association s new Board of Directors held its first meeting on Thursday, June 26, 2008 to elect officers and to define its priorities for the upcoming year. Biddie Labrot was chosen to serve as President, Joanne Asher is the Vice President, Treasurer is Gilbert Gonzales and Secretary is Marilyn Holmes. The Board decided to focus on increasing membership dramatically so that the critical issues facing our neighborhood can have more resident input. The Board feels it is important to prepare a Small Area Plan that would be submitted to the Community Planning and Development (CPD)… Read More
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