Daniel Polimino

Being in the real estate business, I hear people grumbling all the time about the market. It comes from buyers, sellers, and agents. I often wonder if they really know how blessed we are in Colorado compared to other real estate markets across the country.

I heard a story of man in Las Vegas that sold his BMW for $30,000. He then took that money and bought not only one, but TWO $15,000 condos. Each condo was a relatively new build, two-bed and one-bath. He rented each condo for over $900 a month and in his first year made almost all the money back he invested. Can you imagine a nice condo like that selling for $15,000 dollars? Now that is a depressed market.

In Florida, couples are in court NOT fighting about who gets the house from the divorce, but rather who gets STUCK with the house after the divorce. Divorce is hard enough, but now you have a judge telling you that you must keep this huge liability called a home and make payments on it. I have never heard of a divorce couple going to court so they wouldn't keep their home. That's a bad market!

In Detroit, there are so many foreclosures that have no hope of selling and are in such bad neighborhoods that the cheaper option is to tear them down. That in and of itself is not new, but what we are seeing in Detroit is entire city blocks demolished. Neighborhoods of 50 to 100 homes are gone with only empty streets and fire hydrants as reminders of homes that once stood. Again, can you imagine driving to an area of town that was a vibrant neighborhood at one time and now is no more? It looks like something out of the movies.

The down real estate market has hurt everyone in every part of the country, but if you look closely, we are blessed in Colorado. Our unemployment rate is lower than the national average, we have a good corporation base, a vibrant downtown, 300 days of sunshine a year, and it is still a place that people want to live and relocate. Inventory is low, we sold a large majority of our foreclosures, prices are stable and in some cases rising.

Next time you hear people grumbling about the real estate market in Colorado, tell them about Las Vegas, Florida, and Detroit. It makes you appreciate where you live.

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com and www.coloradodreamhouse.com/denverpost

This week we are going to see Yelp reviews of Beatrice & Woodsley, located at 38 S Broadway, Denver, CO 80209. Created somewhere between the wilderness of the forest and the solitude of the city, Beatrice & Woodsley brought the Colorado wilderness into Denver’s heart to celebrate the history of restaurants as providers of restoration, replenishment, and relaxation.

Few of the top reviews are given below:

Jason from Commerce City, CO says, “What an incredible experience! If I had to describe the inside of this restaurant, it would be "Enchanting." We had brunch in the beautiful golden glow of the restaurant. It was wonderful. I had the Eggs Johnny Fever, which I would have loved had it not been for sampling my brunch-mate's Ugly Crepes. They were loaded with Crab, Goat cheese and crawfish. I felt really stupid for dismissing these while reading over the menu. For some reason, I see "crepes" and think sweet. I will be back...and they will be mine. I flirted with the idea of giving just 4 stars, only for the reason that ALL of our dishes came out barely above room temperature. Our waitress and the manager were quick to remedy this situation and we were grateful. With all of the attention to detail, I am guessing that this may have been an anomaly. The cocktail menu was fun and inventive. I stuck with the Bloody Mary (I know...Boring!) and while it was very good, next time, I hope to try the Tea Thyme (Earl Grey Infused Gin, Lemon Juice and Thyme Essence) or the Tip Toe Through the Tulips (Zubrowka Bison Grass Vodka, Lavender and Lime).”

Heather from Denver, CO says, “Wow, this place is magical! Lanterns, aspen trees, high ceilings, the design is the best I've EVER seen in Denver. My husband and I split the EMPEROR'S RISOTTO, CRAWFISH BEIGNETS and a KALE CEASAR SALAD.For dessert we spilt of BIG piece of chocolate cake and finished it off with a whiskey espresso. Surprisingly, this was PLENTY of food for both of us. The meal wasn't cheap, but the food was flavored exquisitely.... this is definitely a special occasion place, but I'll save my pennies, This is my favorite place in Denver.”

Click here to Get started searching for YOUR Colorado Dream Home.

FHA will increase the upfront mortgage insurance premium by 75% on April 1, 2012. The current upfront fee is 1% and will be increasing to 1.75%. This means that the upfront mortgage insurance on a $300,000 FHA mortgage will increase from $3,000 to $5,250. Additionally, the monthly mortgage insurance, which is currently 1.15% for a mortgage with a loan to value over 95%, will be increasing by 0.1% to 1.25% annually.

At a Senate Hearing last week on the state of the housing market, Secretary Donovan indicated that FHA would be reducing premiums for FHA loans that were endorsed on or before May 31, 2009. The logic behind this is to help people, who have demonstrated a track record of performance, refinance their FHA loans.

Chip Allen

Crestline Mortgage Bankers

A Division of Universal Lending Corp

Direct: 303.947.2109

Fax: 303.987.0676

Loanchip@hotmail.com

Colorado Mortgage Broker License # 100019831

NMLS# 378621

Your Lender for Life!

When people you care about need a mortgage,

for purchase or refinance, please do not keep me a secret.

Click here to Get started searching for YOUR Colorado Dream Home.

Here we are, just two weeks from the start of the selling season in Colorado. While it may not look like spring yet, buyers and sellers should be gearing up. April 1^st through July 31^st is the best time to sell a home in Colorado. Soon your lawns will be green, flowers will be planted, the weather will be perfect, and buyers will be out en masse. With a little more than two weeks to go before the start of the season, here is a short list of what you should do to be prepared if you are in the market.

Sellers:

1) Make sure your home is show ready.

2) Does it need a fresh coat of paint? Or do you just need to get the scuffmarks off the wall? Start the project list and complete it.

3) De-clutter. Move some of that furniture into storage and take some of the knick-knacks with it. Remember, buyers need to see themselves living in your home. They are not there to see all things IN your home.

4) Clean, clean, and clean again. A house that looks like it has been well kept and cared for will always sell.

5) Meet with a real estate agent as soon as possible to talk about how long it will take to sell your home, at what price, the competition in the market, and what you can expect from his or her services.

Buyers:

1) Make sure that you have started your homework; and for many, that begins with speaking to a lender. What can you afford to buy? What does it take to get qualified, and what can you expect?

2) If you are thinking of buying, chances are you have been looking at homes online. Do you know what areas you would like to live in? What you can buy in those areas? Have you refined your wants and needs list?

3) Meet with a real estate agent. There is no doubt that a real estate professional will help make your home buying experience so much smoother and happier.

4) Refine your search, get out, view homes, go to open houses, and drive around neighborhoods.

Finally, for both buyers and sellers, remember that buying and selling a home should be a pleasant experience. It’s not about who wins or losses; if you can keep the word “compromise” in the forefront, then chances are it will be a smooth transaction for everyone involved.

Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com and www.coloradodreamhouse.com/denverpost

Click here to Get started searching for YOUR Colorado Dream Home.

This week we are going to see Yelp reviews of The Original Pancake House, located at 5900 S University Blvd, Ste D, Greenwood Village, CO 80121. The Original Pancake House was founded in Portland, Oregon in 1953 by Les Highet and Erma Hueneke. Drawing upon their many years of experience in the culinary field, and their extensive working knowledge of authentic national and ethnic pancake recipes they were able to offer without compromise this unique and original menu which has gained national acclaim. The Original Pancake House is a second and third generation family business, which takes great pride in maintaining the high standards that make our food so outstanding.

Few of the top reviews are given below:

Katie from Littleton, CO says, “Continuing the celebration of my birthday, my parents opted to take me and the boyfriend out to brunch. I was craving eggs, he was craving pancakes, mom-french toast and dad-anything yummy. This shop is super cute and country-ish. With long oak tables, old and new dishes displayed on the walls and big stone fireplace burning makes me feel at home...a country home to be exact. I ordered the special, which was Green Chile Eggs Benedict [amazing!] while the others in my party ordered the Banana french silk pancakes, cowboy omlette [eggs, meat and cheese topped with gravy!] and spinach eggs. All the food not only looked pretty but was delicious and we spent our morning sampling the various dishes at our table. Overall - Food: excellent. massive portions. but totally worth it. Service: insanely friendly. helpful. quick. Atmosphere: super cute. LOVE!”

Holly from Englewood, CO says, “The staff is always so friendly and attentive, even when you come in at 1:30 like we do. The food is consistently good and the coffee had a flavor that's good for picky drinkers. They also have complimentary coffee while you wait. I find that this location has a shorter wait than the other one in the DTC.”

Click here to Get started searching for YOUR Colorado Dream Home.