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.

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.

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.

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.

Some people dream of the freedom to ride out into the sunsets, far away from the fury of metropolitan Denver traffic, lifestyle, and homes.  Yet a child may benefit from 4-H as well as playing violin in a quartet, and so families leverage the amenities of the city and buy homes in Highlands Ranch.  Whether buyers choose recreational ranch real estate in the Denver outskirts or a home in the city near horse boarding facilities, this is the right time to buy.  Interest rates are low and credit is available.

Denver acts as a nexus for several large equestrian events and associations.  Look for the Rocky Mountain Horse Expo at the Denver National Western Complex, the National Youth Horse Leaders Symposium, the Colorado Hunter/Jumper Association, the Colorado Draft Horse Show, the American Youth Horse Council, and an array of activity at The Colorado Horse Park including major Grand Prix events. 

For example, the schedule at The Colorado Horse Park includes a long list of hunter/jumper competitions including the CHJA Show, Meridian Jump into Summer CHJA, Jump into June, Colorado Circuit Preview and Opener, Colorado Summer Classic, with shows and championships going into the fall.  There are plenty of events to spark the interest of all ages:  CHP Three Day Event from May 29-31, 2009, the $25,000 High Prairie Grand Prix on July 4, and the Rocky Mountain Classic July 8-12.  These are followed by more, including the popular $40,000 AGA Rocky Mountain Grand Prix, Colorado Summer Classic, $50,000 AGA Grand Prix of Denver, Dressage in the Rockies, and CHPC Endurance Ride.

The area abounds with clinics, lessons, and all your family needs to take on a real Western bent.  Beginning in May, Colorado Horse Park hosts the Eventing Derby on May 2, Sally O’Connor Eventing and Dressage Clinic on June 1, Gina Miles Clinic June 20-21, David O’Connor Eventing and Hunter/Jumper Clinic July 14-15, and the Bernie Traurig Hunter/Jumper/Equitation Clinic September 24-25.

As for us, we keep ourselves busy out at the ranch in the traditional vein of the Old West.  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.

On February 17, 2009, the U.S. Government also added another compelling reason to install energy efficient appliances and upgrades before the end of 2010.  The American Recovery and Reinvestment Act of 2009, also called the Stimulus Bill, offers homeowners potentially thousands of dollars of tax breaks for installing energy efficient appliances and systems in their principal-residence homes in Denver and the U.S. 

There are tax credits extended from previous legislation as well as new incentives.  Here are some of the main threads woven into the bill:

• Tax credits for some improvements have increased from 10 percent to 30 percent since last year.
• Windows are no longer limited to a $200 maximum and requirements for types of windows have tightened.
• Tax credits are only issued if the improvements are “placed in service” between January 1, 2009 and December 31, 2010 with some exceptions.*
• The maximum credit is $1,500 for two years based on 30 percent of the cost.  Total cost may be $5,000, up from $500, in addition to the exceptions listed below. 
• *Exceptions to the maximum include geothermal pumps, solar water heaters, solar panels, fuel cells, and windmills.  Additionally, homeowners have until 2016 to install these upgrades.
• In order to qualify for tax credits, submit the Manufacturer Certification Statement and receipts.

The government’s EnergyStar website suggests several important steps for homeowners who are interested in “green” remodeling.  They offer several tools for evaluating homes and suggest professional comprehensive home assessments. 

Common signs of energy leakage include cold, drafty, or uncomfortable areas of the home, moisture on windows, high-energy bills, cold floors, ice dams, dry winter air, high humidity, and excessive dust.  Water leaks are apparent through peeling paint, mold, mildew, wood rot, damp basements, and structural damage.

Solutions range from increasing insulation and infiltration to installing a proper air-conditioning or heating system to removing leaks around windows and installing new roofs, biomass stoves, solar energy systems, and fuel cells.  Homeowners who conquer these structural elements in their homes will save money on bills while making their homes more appealing to potential buyers.

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.