Recent proposals could affect U.S. employees who have been out of the country, people heading for foreclosure, and anyone wanting to purchase a home.  Veterans who served overseas for at least 90 days in 2009 may receive an extra six months to take advantage of the $8,000 tax credit for first-time buyers offered during 2009.  A similar extension may affect all people who were out of the country serving in the military, intelligence or foreign services.

Moreover, congressional leaders are working with the White House to expand the tax credit that expires on November 30, 2009.  Various options are on the table.  Some kind of tax credit may become available to all homebuyers until May or even August.  Additionally, there is talk about removing income restrictions.  During 2009, only taxpayers who had incomes of $75,000 or lower could claim the full $8,000 tax credit.

Congressional analysts figure that the tax credit has cost about $1 billion a month in lost tax revenues.  Moody’s chief economist Mark Zandi claims that the tax credit is responsible for almost 400,000 sales of new and existing homes out of the total 1.4 million that sold.  If the tax credit expires soon, Zandi figures that there will be further downward pressure put on house prices.

When the real estate market is moving along, it helps other parts of the economy.  Lawrence Yun, chief economist for the National Association of Realtors claims that each house sold yielded $63,000 spent on goods and services including moving vans and furnishings.

In another arena, the U.S. Department of Treasury is launching a new program to help homeowners escape foreclosure.  Its program, known as Home Affordable Foreclosure Alternatives (HAFA), will offer financial incentives to servicers and borrowers as well as associated secondary investors, in order to facilitate a short sale or deed in lieu of the property.

An improving economic picture is starting to accelerate interest rates.  However, they are still very low.  For example, a $250,000 real estate purchase with 20 percent down in a 30-year fixed product is running 5.125 – 5.250 percent with 1.25 – 0.25 percent points.  FHA assists buyers to get into a $200,000 home with 3.5 percent down at 5.000 – 5.250 percent interest with 0.75 – 0.00 percent points.

That is incentive enough for many.

For more information about real estate in the greater metro area, including farms and horse properties, call Michael Paul of Realty Oasis at (303) 268-6052.

“Buy American. I am.”  We echo Warren Buffet’s comments in the October 17, 2008 issue of the New York Times.  With the stock market still on the roller-coaster ride of a lifetime, folks continue to pull their money out in cash equivalents.  However, real cash value is sure to deteriorate with the likely inflation caused by the Federal Reserve printing paper money for bailout appeasement.

Buffet explains the simple rule that dictates his buying principles.  “Be fearful when others are greedy, and be greedy when others are fearful.”  So, too, in today’s fearful market, he’s been moving his own personal investments from U.S. Government Bonds to U.S. equities.

The prices are definitely right today to invest in sound American companies and real estate.  Although in the short term, all may appear weak, the pillar companies and surrounding land are strong enough over time to endure the temporary quakes of the economy.  Buffet ventures to say that “most major companies will be setting new profit records 5, 10 and 20 years from now.” 

Nationwide, elements of the economy, especially the banking, manufacturing, and housing sectors, continue to look pretty bleak.  The fearful buyer will miss out on current deals, coupled with the unbelievably low interest rates.  Some people do remember the 18-percent interest on mortgages during the early 80s, but more and more are too young to believe that interest rates could ever go that high.

The Mile High City, with better rankings for business and employment, holds more promise for your hard-earned cash.  A diverse selection of solid companies is woven into our landscape and the local real estate market is already rebounding in many areas.

For more information about farms, horse properties, and real estate in the area, call Michael Paul of Realty Oasis at (303) 268-6052.

Then, too, Denver CO real estate is positioned in the center of America.  A large number of American corporations are establishing offices and headquarters in Greater Denver.  Another factor is the growth through Aurora all the way north to the new location of the Denver International Airport.  Denver has become the distribution center for the Rocky Mountain West.  In addition, Downtown Denver retail real estate continues to enjoy immense popularity. 

In fact, a record sale in 2007 by Callahan Capital Partners LLC purchased five downtown office buildings for $770 million.  Then, in 2008, Gart Properties and ING Clarion bought the Denver Pavilions downtown.  That two-block property went for over $94 million.

Many investors continue to find good prices for nice properties.  That’s another reason why for the first time ever, Pricewaterhouse Coopers ranked the city as one of the top real estate investment markets for 2008.  The Mile High City is expecting a phenomenal 4-percent growth. 

During the second half of the 1900s, a large number office spaces sprang up in the city.  Large hi-rises sprouted up downtown and bustling office parks such as the Denver Tech Center, Meridian, Inverness, and Interlocken opened up lots of business spaces.  The strong industrial base consisting of many successful smaller businesses and some very large ones are mostly situated along the Interstate and out to DIA.  The largest malls include Cherry Creek Shopping Center, Park Meadows, southlands, and Flat Iron Crossing.

While the overall commercial real estate market remains steady, the retail sector has been hardest hit by consumer spending habits.  Nonetheless, according to Paula Moore in the Denver Business Journal, “Retail rents here continue to rise, hitting $17.65 per square foot on average at midyear, and investors keep buying retail properties because of metro Denver’s continuing job growth and immigration.”

For more information about farms, horse properties, and real estate in the area, call Michael Paul of Realty Oasis at (303) 268-6052.

Owners of this luxurious Greater Denver real estate can opt to have up to six horses.  Ideal for equestrian use, the nine Douglas County Colorado horse properties at the end of a road offer sunset horseback rides through a community trail easement as well as designated access to the planned Douglas County regional trail easement.

Nestled between rolling hills and water lands, the fairytale setting on the renowned Banbury Cross Farm harkens back to the English countryside.  It is recognizable by its turret monument and ornamental iron gates along tree-lined Plum Creek on Old Banbury Road.

The lovely community features elegant white fencing, rich terrain with grasslands, gently sloping hills, meadows, and extensive grasslands that allow for ideal grazing.  Options exist for outdoor arenas, barns, and a select few sites may also accommodate indoor arenas.  Each site features individual characteristics and unique views, offering owners a variety of creative choices for site plans.

Conveniently away from it all, Banbury Cross is only three miles south of Titan Road with easy access along Highway 85 and just ten minutes from the Light Rail Station at Santa Fe and Mineral.  The quaint town of Sedalia is two miles south where residents can pick up mighty fine hamburgers, groceries, and tend to some business.

The Banbury Cross Development Company and Banbury Cross Home Owners Association assure that Design Guidelines and oversight enhance and maintain the quality of life for all residents.  There are no restrictions on building timelines and this is a great opportunity for luxury retirement.

A few select builders have been approved as custom builders and one gorgeous home graces the land.  The home sites are serviced by underground electrical service, individual wells, and septic systems.  Propane gas may be used if the receptacle is buried.  Geothermal heating and cooling is recommended.  Fire protection is in place and each home will be equipped with internal fire sprinklers.

Families will be delighted to know that the Douglas County progressive academic opportunity includes Sedalia Elementary, Castle Rock Middle School, and Douglas County High School.  Several private academies are also within easy reach.

For more information about farms, horse properties, and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

The average sales price in August 2008 for single-family Denver CO real estate was tracked as follows:  Denver $245,753, Aurora $167,069, Englewood $293,399, Highlands Ranch $336,810, Littleton $295,640, Lone Tree $710,768, and Parker $322,258.  In most of these communities, Denver CO homes are selling to smart buyers at a slower pace than a year ago.  However, Aurora and Highlands Ranch real estate actually sold more units August 2008 than in 2007.

Below are the total numbers for existing home sales from January 1 through August 31, 2008:  Denver 8977, Aurora 4,923, Englewood 483, Highlands Ranch 1,211, Littleton 1,915, Lone Tree 123, and Parker 1,204.  Quite a few families are taking advantage of the positive aspects of today’s market.

Something must be going right in our communities.  Even though unemployment rates have been edging up in Colorado this year, Coloradoans have a history of morphing to meet the changing needs of the hour.  Some who came out for the gold rush decided to build farms and Colorado horse properties and Colorado ranches.  Traders settled down into mercantile stores and other businesses, one community applied to open a university, and many built places of interest to attract tourists.  We’ve landed several government offices and military training operations.  Our citizens creatively moved into the high-tech industries, into transportation and recreation.  Our creative communities can meet to solve problems and challenges.  After all, who hasn’t moved to this state to find excitement and a better quality of life?

So we see that in our state this year, the number of jobs has increased—in spite of everything going on.  Jobs have increased in Boulder-Longmont County and we are waiting to see just how the rest of the counties in our metropolitan area discover new ways to serve the sectors of need in today’s world during this challenging time.

For more information about horse properties and real estate in the metro area, call Michael Paul of Realty Oasis at (303) 268-6052.