Emelyn Morris-Sayre, CRS, REALTOR Lakewood and Denver Metro homes

Whenever I get tired of cold and snowy days, I look at photos taken from my visits to St. Croix, USVI. The following photo is of the Botanic Gardens. We visited on a weekday and saw only 2 other people the entire time we were on the lush grounds of this amazing facility. Unlike St. Thomas and St. John that are filled with tourists, St. Croix maintains a lovely, Caribbean lifestyle....steady and slow, but filled with incredible views, scrumptious smells and incredible hospitality.

2009 Denver Metro Area Economic Forecast

On Tuesday, January 27, 2009, I had the opportunity to attend an economic forecast session sponsored by the Jefferson County Association of Realtors. Ted Jones, Senior VP and chief economist at Stewart Title and Patty Silverstein, President, Development Research Partners of the Denver Metro Chamber of Commerce were the speakers.

Some of the key points regarding the general economy:

• Oil prices will increase again within 36 months, to $4 or $5 per gallon for gasoline.
• In 2009, the average thirty year mortgage rate (conforming) will be around 4.9%.
• Inflation will head upwards in 2010 and mortgage rates will be in the mid to high 6% range in 2010 and 7+% in 2011.
• We should be encouraging buyers to purchase now. Waiting for another $10,000 drop in price just to get the very best deal on home price but ending up paying a 1% higher mortgage rate doesn't make sense. You are better in the long run to pay 10% more than the bottom price with a lower interest rate.
• Apartment vacancy rates will stay steady but commercial vacancy rates, such as office and retail, will increase. Values for commercial properties will decline in the next 3 years.
• We will the see the light at the end of the tunnel during the 4Q of 2009 and anticipated recovery in 2010. All eyes are on Washington.
• Denver unemployment will be lower than the overall US.

After hearing from the speakers, we all participated in breakout groups to discuss topics of short sales and foreclosure sales, the mortgage market and residential real estate.

In the Denver Metro Area, certain neighborhoods have been hit hard with foreclosures and short sales while others have seen a modest appreciation. Quoting national averages on declining home prices is deceiving. All real estate is local and further in-depth analysis is needed. Typical of real estate, it is "location, location, location."

If you live in the Denver Metro area and would like to know how your neighborhood is doing compared to the previous 12 months, please email me .

Gilpin County offers so much to it's residents. Privacy, expansive vistas and a rural lifestyle that is within a close drive to Denver. A lot of press has been given to the towns of Black Hawk and Central City with the recent successful vote to raise the gaming limits from $5 to $100. BUT, it is so important to note that Gilpin County offers so much more. The impact of gaming primarily affects the two communities....drive just around the corner and you are in a different world...a mountain paradise that offers you a lifestyle that so many people crave.

I have lived here....12 wonderful years. My husband's roots go back to the gold rush in 1847. I know this area well. We would still be living there, but work has forced us to move down the hill. But I am still working and loving this area.