Kevin Lundy

Denver & Others Anticipating Home Prices Will Increase in 2010 - Denver, CO By Kevin Lundy of Focused Realty

Mixed news released by Inman News this morning points to four U.S. Metropolitan areas that will be suffering from real estate price decreases in the year ahead, due to the expiration of the tax credit and inventories which continue to be distressed. According to Analysts at CoreLogic, when including the disressed properties, they're predicting a national average of 0.5%. The picture gets much better when you remove the distressed properties, but that reality exists, and so the market wil, according to CoreLogic, continue to lag until that inventory is gone. The metropolitan areas anticipating the largest price drops are:

Detroit is predicted to have the largest price depreciation in the next 12 months (-6.1 percent), followed by Seattle (-4.1 percent), Nassau-Suffolk, N.Y. (-3.4 percent) and Baltimore (-3.3 percent).

However, there are bright spots in the U.S. Housing Economy to be seen in the year ahead. CoreLogic expects to see the greatest price appreciation in the following metro areas during the year: San Jose (6.8 percent), Buffalo-Niagara Falls (4.9 percent), Denver (4.7 percent) and San Diego (4.4 percent). They further anticipate those price increases to occur during the Spring monhts.

For Denver residents, along with our neighbors in San Jose, Buffalo-Niagara Falls and San Diego this comes as welcome news. For our neighbors in areas with anticipated price drops we just encourage you to hang in there, eventually distressed inventories will be depleted and good times loom ahead. Either way, this mixed national news emphasizes the diversification of the U.S. real estate market and proves just how different various markets can be. A micro-market perspective is needed to determine whether your market is anticipating growth or contraction. A full time Realtor should prove to be your best friend, when it comes to determining how your local market is performing.

Despite the welcome news, we at Focused Realty encourage our friends to pursue the market with cautious optimism, just as we always have. While its true that prices may increase, we discourage purchasing for equity gains. Rather, we encourage our investors to take a long-term approach towards their real estate investments. There are many benefits, apart from appreciation, to be gained from real estate ownership - tax benefits and pride in ownership just to name two. With prices increasing in Denver, it may be a great time to list. For more information about buying or listing your Denver Home, contact us at FocusedRealty.com or call us toll-free at 1(800) 558-7038.

Denver, CO - 50% Drop in Metro Denver's Showings After Tax Credit Expires by Kevin Lundy of Focused Realty

While its certainly too early to speculate, many of the real esatate bears in the Metro Denver marketplace are having their way.

Initial statistics from Real Estate Resource Center, Inc show that showings are down over the prior weekend, that period leading up to the expiration of the tax credit, a whopping 50%. Being that it is springtime in the Rockies, showings in the metro-Denver area are historically steady and "typical". But as we all know, these times are anything but typical.

Prior to the tax-credit expiring, the same source stated that sales were breaking records, so being down from record-breaking performances is not necessarily a bad thing. Likewise, coming off of the high that goes along with the mad rush to save $6,500 or even $8,000 on taxes, is somewhat to be expected. On an optimistic note, RERC also reports that metro-Denver listings over the past weekend, vs the prior end of the week are only down 30%, its the actual showing of inventory which is down by the larger 50%. RERC, a Realtor's showing service provider/coordinator, reports having 56 new listings since May 1st, which they report as being good volume. So, its their perspective that there is still a steady stream of new inventory coming on the market, which indicates a renewing sense of homeowner/seller optimism in metro Denver.

Only time will tell to see how the market shakes out. Metro Denver never experienced the horrific price decreases seen throughout most other large metro areas throughout the country, as it also never experienced the exponential growth which ultimately brought the system down. Metro Denver has shown to be a more steady and slow growth market. What we'll be looking for over the next few weeks are additional signs to see if Spring is in bloom in metro Denver's real estate market, of if prices are reflected in a downward trend due to excessive new inventories with little transaction volume.

For those sitting on the fence whether to buy or sell real estate, its historically still a great investment, despite recent dips. Our metro Denver clients are advised to forego purchasing real estate for appreciation purposes; rather to build equity "over time" through conventional financing, take advantages of homeownership's tax benefits and to participate in and become part of a community.

Attention Metro-Denver Home Owners New Lead Based Paint Rennovation Rules April 22nd

by Kevin Lundy of Focused Realty - Denver, CO

In their weekly updates, the National Association of Realtors just reminded everyone that on April 22nd, the EPA will be instituting a new rule for Renovation, Repair and Painting of any homes built prior to January 1, 1978,

According to the news release, contractor will need to be certified to complete the work and or work for a certified renovator firm. This is something listing agents and homeowners should be very aware of when looking to sell homes built prior to 1978, as there will likely be mandated disclosures to pay special attention to, receipted work, etc. The new rule also discusses minimum safety practices to prevent the spreading of lead-based pain dust.

NAR has a guide for those safety practices which spells out the steps that real estate agents, brokers and even property managers will need to take in order to comply with the new EPA Rules.

Here are some helpful links from the EPA:

For Homeowners and Families

2008 Home Remodeling Pamphlet

For finding your next Urban Family home in Denver, CO

Attention Metro-Denver Home Owners New Lead Based Paint Rennovation Rules April 22nd

by Kevin Lundy of Focused Realty - Denver, CO

In their weekly updates, the National Association of Realtors just reminded everyone that on April 22nd, the EPA will be instituting a new rule for Renovation, Repair and Painting of any homes built prior to January 1, 1978,

According to the news release, contractor will need to be certified to complete the work and or work for a certified renovator firm. This is something listing agents and homeowners should be very aware of when looking to sell homes built prior to 1978, as there will likely be mandated disclosures to pay special attention to, receipted work, etc. The new rule also discusses minimum safety practices to prevent the spreading of lead-based pain dust.

NAR has a guide for those safety practices which spells out the steps that real estate agents, brokers and even property managers will need to take in order to comply with the new EPA Rules.

Here are some helpful links from the EPA:

For Homeowners and Families

2008 Home Remodeling Pamphlet

For finding your next Urban Family home in Denver, CO

Denver’s Highlands Neighborhood
By Kevin Lundy of Focused Realty

In 1987 I found myself wandering through the halls of Regis University as a freshman at this Northwest Denver school. As I explored the hallowed grounds of my new surroundings I crossed paths with one of the stateliest looking individuals I’d ever met. Turns out, his name was Dennis Gallagher, and at the time he was a Colorado State Senator and one of Regis’ most loved professors. While I must have had that “deer in the headlights” looks on my face, he looked at me and said, “Isn’t it great to be here at Regis?” Somehow, his words made me feel very welcome.

Senator Gallagher was speaking of more than just “Regis”, he was referring to the entire Regis “Community”. Dennis represented Northwest Denver as a State Senator, and has subsequently gone on to serve as a City Councilman and is currently serving as Denver’s Auditor. His love for the Regis Community extends into the surrounding neighborhood, where he’s served as a steward of the community since the 1970s. During his tenure, Northwest Denver has grown into one of Denver’s most desirable neighborhoods to live in and is most noted for its Highland’s Neighborhood.

“The Highlands” as its known, which is located just Northwest of Downtown, is bounded by 38th Avenue to the North, Speer Boulevard and 29th Ave to the South, extends as far east as I-25 and as far west as Lowell Boulevard. Some divide the area into East Highland, West Highland and so forth, but “Highlands” is what the entire area is commonly referred to as.

William J Larimer, who also founded the city of Denver, founded this vibrant community in Northwest Denver. Its eclectic architecture of homes ranges from Victorian models to brownstones to bungalows and beyond. The average price ranges in the Highlands neighborhood now ranges from $275,000 to $400,000. Highlands now boasts some of the best restaurants the city has to offer along with some of the most interesting specialty shops anywhere in the city. From antiques shops to modern cyber cafes, Highlands has it all.

If you’re planning to live on the West side of Denver, say perhaps to take advantage of the proximity to the mountains, you owe it to yourself to take a look at Dennis Gallagher’s most treasured jewel, known as the Highlands.