Larry Hotz

Denver relocation, or relocation to any city for that matter, can raise the anxiety and a family.  Inevitably, this leads to a series of questions about what it would be like to move to Denver or a suburban Denver neighborhood.

It's funny; the same questions keep coming up over and over again.  As a Denver realtor since 1978 I have been helping families moved to Denver and heard these questions.  Now, I've chronicled them into a Top 10 Denver Relocation's Questions list in the style David Letterman might give for his top 10.

For example, do you need a 4 wheel drive vehicle when you move to Denver? That question is Number 10 and the 10th most often asked. The answer is it depends on where you live in the Denver metro area. Folks living near downtown probably don’t need a four wheel drive vehicle if they can tolerate a couples days per winter when travel might be more difficult due to the weather. A physician on call to a hospital, for example, would still want to have vehicle that could push though one of the big snowstorms.

Most of the time our snowfalls come and go very quickly.  Snow is usually off of the roads within a day after a good-sized storm.  So, many people who live in town or are close to mass transportation like the new light-rail system do not have a four-wheel-drive vehicle. However, folks moving up into the foothill suburbs often find that they do need 4-wheel-drive vehicle in the family.

The foothills to the west and even the south of Denver can get twice the snow that falls in the City. Often, roads are not cleared quickly there except for the main arteries.

The most commonly asked questions in the top 10 are about Denver neighborhoods.  What are the best schools?  What neighborhoods are particularly kid friendly?  What is the right neighborhood for me?

There are tons of great questions you might have about moving to Denver.

These questions and more are answered on my latest blog post at All Denver Real Estate. Take a look at it and tell me what you think by leaving a comment. I really appreciate it.

 

What is most confusing about Denver?

It's the term Cherry Creek. When people first come to Denver, they hear that term and they don't do what to think. At first, they may think it's the Cherry Creek shopping Center near downtown Denver. It offers the most upscale shopping at the Cherry Creek Mall as well as boutique shops and restaurants, art studios, condos lots and townhomes all in a very upscale environment.

Some of the best homes in Denver are in and near the shopping center area. The Cherry Creek is much more than just a shopping center area. It's a real Creek, a stream meandering from Southeast Denver into downtown. It provides recreation not only for bikers pedaling along its shores but also kayakers and even those who want to enjoy a picnic lunch down by the Creek.

Cherry Creek is also a dam built by the Army Corps of Engineers in 1950 in the southeast suburbs. It's the building of that damn dam is created all the confusion. Since 1950, Cherry Creek has become an area in the suburbs complete with its own school system, The Cherry Creek School District. Of course, that’s not even in Denver. It’s in Arapahoe County and those schools serve the suburban cities of Greenwood Village, Cherry Hills Centennial and parts of southern Aurora.

I've written a more thorough article about Denver's Cherry Creek real estate on my Denver real estate blog. I hope you read it and it can clear up of the dam confusion; about the Cherry Creek dam of course.

Here are neighborhoods in and adjacient to Cherry Creek Shopping Center in Denver: Belcaro - Sprawling ranch homes and huge estates next to affordable ranch homes. Bonnie Brae - Tutors, bungalows and brand-new homes. Cherry Creek - Opulent townhomes, condos and single-family homes. Cheesman Park - Historic Victorians, high-rise condominiums for citydwellers. Congress Park - Walk to Cherry Creek from older bungalows and Granda family homes. Denver Country Club - Stunning turn of the century mansions. Hilltop - one of Denver's best neighborhoods with ranch homes and brand-new estates. Washington Park Young, active lifestyles near the Park with two "lakes".

Here are Denver suburbs in the renoun Cherry Creek School District: Southern Aurora - Affordable and newer single-family homes or families. Greenwood Village - Upscale single-family homes close to everything. Cherry Hills Village - Exclusive homes for Denver's movers and shakers. Centennial - Variety of affordable homes in Denver South suburbs.

Okay, put me on the spot.  It happens to me all the time.  People moving to Denver have no idea what the best Denver suburbs really are.  So they asked me.  First, I explain that it's totally subjective what is best.  But if I'm really pushed, these are the suburbs that I'll list as being among Denver's best suburbs.

 

What do I consider best? the factors that go in to the best suburbs have to include good schools, easy access to good shopping, good transportation quarter horse, low crime, neat and clean communities and a sense of community pride.  Denver is really fortunate to have so many great suburbs.  Here are just a few:

 

Arvada – Eclectic mix of  blue collar to luxury homes between Denver and Boulder

Southern Aurora -Popularly priced homes with the top Cherry Creek School District and the new Southlands Mall

Bow Mar-  Rare lake community with stunning views and large lots in southwest metro

Castle Pines- Gated community in the Village and suburban custom and tract homes in Castle Pines North

Castle Rock- Old Stage coach stop between Denver and Colorado Springs is now a Denver Suburb

Centennial - Denver’s newly incorporated suburb streaches across the south metro with some of Denver’s Best Schools

Cherry Hills Village – Denver’s most affluent suburb with estates, horses, top schools and easy access to DTC

Douglas County- Suburbs, exburbs and rural Americana offers ranches, views and horses

Englewood – Modest suburb south of downtown with some custom homes in unincorporated sections of the zip code

Erie- Bedroom community north of Denver  between Boulder and Longmont.

Evergreen /Conifer/ Morrison Mountain community living close to Downtown Denver with trees and views

Golden – Mix of older homes and newer subdivisions nestled in the foothills

Greenwood Village –  Elegant custom homes and more modest homes from the 1980’s

Highlands Ranch – Most popular destination for relocation families with a planned community south of Centennial

Ken Caryl Valley- SW
Red Rocks and views southwest

Lakewood – All-American Near West Suburb with Jefferson County Schools. 1960’s – 1990’s

Littleton-  Variety of homes and prices south of Denver.

Louisville – Boulder Schools with a mix of housing options now named #1 by Money Magazine

Parker – An old west town with a new west population mix of cowboys and suburbanites southeast

Reunion – NE
New Suburb near Airport

Roxborough – Planned community by Shea near the Denver airport with great values on homes

Sedalia/ Deckers - In the foothills of the Rockies just south of Littleton with rural living options

Westminster –Close in to downtown with mainly older homes and some new homes mixed in

Denver relocation doesn't just happen automatically. There's a lot to think about. Once a family learns that it's moving to Denver because of a new job opportunity, the first question is usually where in Denver do we want to live.

After all, there are over a hundred Denver neighborhoods just within the city limits. Some are comprised mainly of families like Hilltop, Park Hill and Bonnie Brae. Some are for predominantly empty-nesters like Cherry Creek and The Four Seasons Condos in downtown Denver. And some neighborhoods are mostly for singles.

Plus, city living isn't for everyone. There's also dozens of Denver suburbs to consider. There are upscale neighborhoods in Cherry Hills Village and Castle Pines Village. There are affordable homes in great suburban communities like Littleton, Centennial and Aurora. And, there are mountain communities within 40 minutes of downtown too. There are even ex-burbs offering the best home values but 45 minutes or more into downtown Denver.

I've been helping families moved to Denver for over 30 years now. Almost always, they wonder where they can live it will be like where they live now. Even people who want some change don't want to much.

I have sold homes in almost every neighborhood of Denver. So, I know what the advantages and disadvantages of each neighborhood are. In fact, I've learned to ask a series of questions that help me determine what neighborhoods might be the most suitable for a family moving here.

I've collected these questions and turned it into a simple form on my website. Here, people can fill out what factors about a potential neighborhood would be important to them. It's called Neighborhood Finder.

In the privacy of their own home, a family can leisurely discuss the questions asked. When they return the form, I personally review it. Usually, I can make some recommendations of neighborhoods that might be appropriate. My staff then sends detailed Neighborhood Reports by return e-mail. These reports are 20 to 25 pages in length and deal with everything from the demographics of the neighborhood to the local schools and houses of worship.

Here's a short video I prepared on how to fill out and submit the form:

So, here's my challenge to you. If you're moving to http://www.denver.org/ and wondering what neighborhood might be appropriate for you and your family, give this form a try. You'll get a quick reply by e-mail with detailed neighborhood reports there is a Denver you might not have considered. It's a free service and there's no obligation. Just click here http://www.larryhotz.com/relocation/community-finder/ to find the perfect Denver neighborhood for you and your family:

I'd love to hear from you!

It doesn't happen very often. A Realtor should be paid a commission if s/he locates a property pursuant to a Buyers Broker Contract unless there would be a provision to the contrary.

Most often, when a Realtor has found a property for a buyer in the short sale process and placed it under contract, the contract is eventually accepted or rejected by the bank. Occasionally, the bank just doesn't reply and sends the property into the foreclosure sale or it disappears into a vast abyss never to be seen again.

Why is that? The answer is because most of our buyers can't go to a foreclosure sale and pay all cash on the spot if they are the successful high bidder. Recently I had a situation where my buyer did exactly that.

We were under contract to purchase a home in Douglas County just outside of Denver. The listing broker was confident that the short sale would be approved because, after all, we had offered full price of $460,000. What we didn't know was that the bank would actually make a profit from an FDIC payoff if they took the property to foreclosure. Short sales didn't count to get the FDIC windfall bonus to the bank. You can read about that scandal on my new blog at FDIC Pays Bank To Foreclose.

So, the bank never approved or rejected the short sale. They just scheduled it to go to a foreclosure auction without notice to us. Fortunately, my buyer happened to check at the Douglas County clerk and recorder's office one day and discovered the property had been scheduled for auction.

Eventually, my clients and I went to the courthouse for the foreclosure sale. I had done all of the research about all of the junior lien holders. We were fully prepared on a strategy of how to bid and how to isolate the junior lien holders following the sale so they couldn't redeem.

You see, in Douglas County junior lien holders have the right to redeem from the successful bidder within nine days of the foreclosure sale. As a result, a potential bidder could buy a lien from a junior lien holder and not even have to bid at the auction. That actually happened on this property. But, we were able to pay off the junior lien before the lien holder sold their interest.

The point is that this can be complicated stuff. A novice buyer needs a competent buyer broker at the foreclosure sale. Our Colorado Buyer Broker Agreement does not exclude a foreclosure from coverage under the agreement. So, in most circumstances, the broker would be entitled to a commission from the buyer after the foreclosure sale.

Of course, it's important that the Buyer Broker Agreement be filled out properly by the broker and signed by the buyer. Here are excepts from the exact Buyer Broker contract I used in this transaction.

Our Buyer Broker Contract provides for the property to be acquired be fully described. Here's how I filled it out with my buyer who eventually went to the foreclosure sale.

I asked noted Boulder real estate attorney, Oliver Frascona, how important it was that this description be filled in accurately . He thought that it was essential. “I think that the agent does not need to have even introduced the client to the property if it otherwise fits the terms in the buyer agency agreement”, he said.

Our contract with buyers also allows for various options of payment. One of which is the buyer will pay the commission if it is not offered by the MLS. Fortunately, I had checked the option that requires the buyer to pay the commission if it is not available from the Seller or the MLS offering.

Attorney Frascona commented further: “I think the Buyers Agent has a really good case especially if they were the one to have introduced the property to the Buyers. There is no need to have a contract that goes through the MLS system”.

So, consider this possibility whenever you fill out a Buyer Broker Agreement. It’s an eventuality I didn’t anticipate but for fortunately I had the right document language and Buyers were so happy with the results they were happy to pay a commission.

Why, it turned out that they saved money. Remember, we had a contract for $460,000. They purchased for $434,000 at the foreclosure sale. So, even with the commission paid, they were ahead of the game.

It’s a good story. It’s a true story. It illustrates how Realtors really do add value to the consumer beyond the amount of the commission.