According to Metro Brokers Real Estate Advisor, “Denver recorded the best year-over-year return in the S&P/Case-Shiller Home Price Index during April 2009.  S&P reported that annual declines for Denver CO real estate are down 5.5 percent.  That is the best rate in the entire nation.  The next best ratings are Dallas, whose decline is down 5.6 percentage points and Boston down 8 percent.

Several factors are contributing to the positive news.  Denver was one of the first real estate markets in the nation to notice a housing downturn.  The Mile High City has consequently had longer to regroup and figure out solutions than other cities.  Housing affordability conditions are at historic highs.  Those conditions include ratios such as income to house prices, etc.  Then interest rates have continued to stay low, albeit they are edging up.

Additionally, first-time buyers are taking advantage of the $8,000 tax credit offered to them through the stimulus bill.  To qualify for the $8,000 credit, first-time buyers and buyers who have not owned a primary home in three years must purchase a primary home before November 30, 2009.  As first-time buyers get into the market, sellers will be free to purchase their next homes.  The domino effect could help the entire real estate market to rebound and really crackle.

Other kindle is catching fire.  Although the average sold price for the Metro Denver dropped in January to $213,330, it steadily increased during the following three months to $233,482 in April 2009.  Median sales prices in the Denver-Aurora area are down 13.7 percent from last year while they are down 19.8 percent in the entire Western portion of the nation.

From January 2009 through April 30, 2009, existing home sales in portions of Greater Denver include:

• Denver 3,180 (87.1 average days on market)
• Aurora 1,831 (83.4 average days on market)
• Littleton 592 (82.0 average days on market)
• Parker 382 (93.9 average days on market)
• Highlands Ranch 358 (80.8 average days on market)
• Castle Rock 305 (125.5 average days on market)
• Englewood 168 (79.7 average days on market)
• Lone Tree 29 (108.5 average days on market)

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.

Buyers who want the small acreages for horses close to the amenities of the metropolitan area need only click here to view our Featured Listings for Denver Real Estate.

Prices are good.  Interest rates are great but edging upwards.  According to Paula Moore’s article in the Denver Business Journal on June 8, 2009, the highest average selling prices for real estate in Denver are $527,216 in the Boulder plains area and $663,311 for homes within the Boulder city limits.  The lowest average prices for single-family homes in the Denver metro area rang up in southern Aurora at $92,230, the mountain area of southern Jefferson County at $147,125, and near the Denver International Airport at $152,204.

With the excellent interest rates and the ability to refinance, some people are choosing to upgrade their homes by adding more rooms.  Some are remodeling.  Yet there are families who are choosing to add more acreage and a couple of horses for their children or for a mid-life diversion.

Horses enjoy an evolutionary niche as grazing animals that herd together for mutual protection.  They are quite social and love the horse circuit in the Mile High City as much as their owners do.  One larger property, suitable for several horses, would make them smile.  A smaller property under five acres would be fine for one horse—as long as someone in the family will fulfill the social need.

Horse properties are marvelous buffers from the hustle-bustle of life.  We can steer you towards a number of properties in great school districts located less than 20 minutes from business parks or the downtown metro area.  As the city expands, these choice properties with present covenants allowing horses could face redevelopment or rezoning if horse lovers resist them.

There are small ranchettes on less than five acres and larger ranches with hundreds of acres to roam.  No matter the size, the peaceful equestrian oasis promises to offer residents a world just a canter away from stress and a trot from equestrian heaven.  All while supplies last.

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.

First-time buyers may apply the tax credit outlined in the Recovery Act of 2009 if they close on their homes by December 1, 2009.  The decision by HUD Secretary Shaun Donovan allowing homebuyers in Colorado and the USA to use the $8,000 tax credit in conjunction with FHA financing will primarily boost the sale of starter homes.  It will also create a domino effect as growing families upgrade.  The $8,000 tax credit may assist first-time buyers as well as buyers who have not owned real estate in three years with their down payments and closing costs.

The FHA mortgage program requires borrowers to come to closing with a 3.5-percent down payment.  Having an $8,000 to fulfill this obligation allows buyers who are otherwise strapped without gift money or family and friends to borrow from to enter the housing market during 2009.

Here is how it works.  Certain approved organizations, “eligible government agency and instrumentalities of government,” may provide bridge loans using the $8,000 tax credit for repayment.   FHA-approved lenders and non-profit organizations along with all government agencies up to 10 percent of the purchase price.  To facilitate home sales, these entities along with state housing finance agencies may also provide longer-term loans secured by second liens.

Next, let us look at the interest rates increasing about .500 percent last week.  They continue to be in the low 5-percent range for conventional, conforming loans.  The government is apparently selling enormous supplies of treasuries, which are competing with Mortgage Backed Securities (MBS) as safe investments.  The MBS market is the financial instrument that determines mortgage rates.

To avoid future interest rate hikes, it is imperative for current buyers to have a rate-lock strategy in place.  First-time buyers especially do not want to wait until interest rate hikes eat up the benefits of their tax credits.

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.

The first step is to go sightseeing with the intent of getting ideas for your color scheme and precise Western theme.  Western usually means plenty of earthy tones.  Accent colors like turquoise, white, and red brighten up the palette.   Look in old bars and hotels, restaurants, ranches, and museums for get ideas to help you decide on a wall color or two for a specific room. 

Try to narrow down your Western theme to one or combine two themes.  For example, your son’s cowboy bedroom may have an old cowboy hat, saddle, spurs, chaps, and posters of horses and cowboys.  A pioneer theme may have wagon wheels, old milking pails, rustic woods, etc.  Pulling off a fur-trader or Indian theme may incorporate fur rugs and wall hangings.  The Western hunter would have elk horn chandeliers or tables with possibly woven blankets on the wall or used for throws.  One theme may be better suited to the family room and another to the kitchen or bedroom.

Besides wall colors, other elements of the Western decorating project are the flooring, lighting, artwork, furniture, and the all-important accessories. 

Flooring depends on the location and use of the room. Today the rough wood floors are popular but they do need care.  Earth toned ceramic tiles, hardwood, or laminate wood may be options.  Existing floors can be transformed by area rugs with Western designs.  Look for vintage western lanterns or wall sconces with cowboys, cows, horses, arrows, teepees, etc.  For brighter light, use rustic chandeliers, pub lamps, or swag lamps.

Western posters, prints, and original artwork from secondhand stores, auctions, country stores, and on the internet are invaluable.  Posters of old cowboy movies, “wanted” posters, branding irons, animal skins, originals by western artists, and many other pieces are suitable.  Furniture should be comfortable.  Most simple styles will blend with the Western décor.  Choose tans and browns but accent them with throws, throw pillows with a Western appliqué, etc.

Now for the treasure hunt. Accessories and knick-knacks add the personalized touch.  Collect just the right pieces of old pottery, figurines, cast iron relics, whiskey bottles, horseshoes, bits, and the like.  ‘Add some creative touches of your own, maybe putting an old saloon door on the kitchen.  Stamp horseshoe prints onto a plain-colored comforter or throw pillows or create your own branding symbol to put on the headboard or wall.  Use rope.  Make a lasso or several small ones to hang in the perfect places.

As time goes on, change out your Western treasures for new ones and enjoy your home on the range.   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.

So to give our readers any heady information, we will share some news from the May 19, 2009 Denver Business Journal.  The article is entitled, “Denver tops on Today show list of cities poised for real-estate rebound.”  My horse is only concerned enough to wonder if more Colorado horse lovers are moving to our equestrian-friendly town. 

Author Mark Harden noticed a clip on NBC’s Today Show.  Real estate expert Barbara Corcoran, after measuring several factors, announced that Denver, more than any other U.S. city, is on the rebound.  She checked for job-growth potential, a growing population, good weather, abundant first-time buyers, no overbuilding, a vital downtown, a well-educated population, and foreclosures before other cities.

How specifically does Denver measure up?  We have all of the above in addition to boasting one of the largest park systems in the nation.  Interestingly, the Mile High City was one of the first cities to experience a high number of foreclosures and so it is one of the first to resolve that problem. 

Metro Brokers’ Real Estate Advisor similarly applauded Denver.  Among large cities, the Denver metro area ranked third with -14.2 percent of market decline since its real estate peak in August 2006.  Overall, the metropolitan real estate markets peaked between September 2005 and August 2007.

Now, math is useful, stats are fine, but we tend to observe another key factor:  horse sense.  Horse sense says, Wow!  What a gorgeous setting we live in along the Front Range of the Colorado Rockies.  Our citizens appreciate where they live.  They work hard and play hard.  Our communities are beautiful.  People take pride in volunteering and getting involved in education, culture, the arts, sports, and recreation.  We are an hour from the ski slopes and boast an international airport.  The magical weather brings us sunshine, flowers, changing leaves, and plenty of snow. 
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.

System-build modular homes, not to be confused with manufactured homes, are almost twice as fast to build.  Costing less time and less money, they are popular not only within Great Denver real estate but in the Rocky Mountains where the construction season is cut short. 

Building systems are highly engineered methods of producing buildings or building components.  A modular home is one type of building system.  Homes begin as components designed, engineered, and assembled in an indoor controlled environment.  Under the system-built construction method, simultaneous construction of the foundation and first and second floors speeds up the finished product.  At a time coordinated with the building contractor, the final components are transported to the home site.

Production line methods result in superior quality.  Several factors contribute to the structural integrity.  They include better equipment, climate control, high-grade materials, tighter construction that withstands transport, and quality control.   All building codes and standards are observed during every step of the construction process.  In addition, it is nice to know that banks, lending institutions, and insurers do not differentiate between modular and site-built homes. 

The quality conscious and cost conscious buyer finds state-of-the-art construction technology and great amenities.  The computer age allows homeowners to analyze the best and most cost-effective ways to design and construct their homes, including options of a long list of interior and exterior design elements.  Thanks to new technology, homebuyers are able to purchase empty land lots and horse properties and, within two to three months, they are moving into the homes that they help design. 

According to a January 2009 article in The Denver Post by Margaret Jackson, at least one development company in the residential real-estate market here decided to shift to system-built homes selling for $350,000 versus pursuing their original plan to build homes in the $500,000 to $700,000 price range without compromising style.  The homes feature open stairwells, solid oak treads, maple kitchen cabinets, slab kitchen counters, and onyx countertops in the bathrooms.

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.

Ask about Denver CO real estate in Sedalia, Franktown, Elizabeth, Parker, Bennett, Louisville, and in other wonderful smaller communities in the area.

Colorado’s children and youth are naturally inclined to love horses as much as their dogs.  Enter 4-H 100 years ago to mentor and educate our youth.  Today, the worldwide organization is America’s largest educational program for boys and girls outside of school.  The organization develops life skills and leadership skills.

With the motto of “Make the Best Better,” the 4-H organization in Denver participates in equestrian competitions held locally and nationally.  In addition to teaching young horse lovers about grooming, training, and competitions, the organization arranges tours, workshops, achievement programs, camps, statewide conferences, exchanges, exhibits and fairs, and national events.

While the child is learning horsemanship skills, he or she learns communications skills, citizenship skills, decision-making, leadership, interpersonal relationships skills, participation in the community, and global awareness.

Connecting youth with parents, adults, and youth mentors, 4-H is able to teach skills such as cooking, selling, livestock, wildlife, archery, electricity, computers, and science as well as teaching community service.  Local land-grant universities such as Colorado State University provide curriculum for programs beginning with children ages five to seven years old called the 4-H Cloverbuds and continuing up through age 19 with regular 4-H groups and clubs.

There are various ways each student can choose to affiliate with 4-H.  There are community 4-H clubs, project clubs such as a horse club, special interest groups, television, school enrichment, and special activities.  If there are no local associates, a student can participate as an individual.

The organization benefits from generations of volunteer 4-H mentors.  Additionally, 4-H receives private funds from individuals, businesses, and organizations that enhance the 4-H programs. 

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.

Foreclosed homes in the greater Denver region are a different ball of yarn.  It is critical to work with a lender and a Realtor® who has experience with bank foreclosures.  That is because there are so many critical details.  For instance, property ownership changes when a bank forecloses a parcel of Denver property.  When properties have changed ownership in the past year, specific Flipping Guidelines affect the resale.

Eyeing a foreclosed property is not a rush project.  Generally, the purchase of foreclosed properties in Denver takes longer than normal transactions do.  The bank may take one day or 90 days to decide to accept or reject an offer.  Most of the time, once a contract is accepted, a foreclosed property sale takes at least three or four more weeks to close. 

With several parties involved, it takes quite an effort to ensure an easy closing.  First off, the lender must send closing papers to the title company at least 72 hours in advance.  Other players on the chessboard include the appraiser, surveyor, inspector, flood certification company, insurance company, tax certifier, processer, underwriter, home warranty company, the title company, the escrow officer, and the bank—to name a few.

Buyers who have the time to deal with a foreclosure transaction must understand price negotiation.  A good Realtor can verify upfront any limitations that the bank may be imposing.  Realize that the bank most likely has already reduced the price of the property below market value.  Just as important, other buyers are also looking for good deals and the bank may have several offers.  Some banks will pay the buyer’s closing costs, possibly by raising the price, others will not.

Repairs, inspections, and appraisals are imperative to accessing the correct value of the property.  Inspections ensure that major systems are working.  That will include heating, air conditioning, foundation, roof, and plumbing.  Buyers are smart to hire their own inspectors to be sure that the major systems are in good condition.  Before an appraisal or inspection, it is important for the buyer to be certain that all of the utilities and water are on in order to test their functioning.  Banks who hold foreclosed properties will not do repairs.

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.

So how do we maintain a horse barn on Denver CO horse property?  First, the horse and the barn need regular grooming.  Horse lovers who create good hygienic habits end up enjoying the equestrian experience thoroughly.  It is imperative for horse owners to remove dirt, manure, dust, stench, and chaff, especially during wet weather.   

To facilitate the ongoing elimination of dirt, start by checking the drainage system of the barn.  On a sunny day, open the barn to allow full natural sunlight to enter.  Clean the floor, hosing it out and observing any drainage problems that may show up as it dries out.  If any drainage problem persists, consult a professional.  Horse barns with dirt floors need to have the top layer removed and replaced.

Establish a routine pattern for cleaning.  Start in one place and move methodically to the next to maintain a uniform maintenance process.  Tweak the method to simplify the removal of waste.  Be sure not to forget the regular cleaning of the loft, horse stables, stalls, walls, windows, and tack room.

Having the right tools for the job is half the battle.  Here are some suggestions:

• Handcart to carry out dirt, feedbags, and other materials
• Power blower
• Lightweight wheelbarrows
• Detachable feed tubs for ease of cleaning
• Rubber mats for the horses to stand on
• Strategically placed wall panels to hang tools and materials

Colorado State University advertises a DVD that features many tips for new ranchers.  It includes information from pasture-management experts, equine clinicians, nutritionists, veterinarians, ranch managers, owners of small acreage, and horse owners.  Homebuyers who will be boarding their own horses may find it especially helpful.

In summation, it is easier to groom horses that live in a clean environment.  Horse barn owners who get the hang of these basics will have more time to enjoy the Rocky Mountain sunsets and extensive equestrian activities offered in the aura of the Mile High City.
 
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.