Why Live In Wash Park?

Remember your early real estate advice?  Location, Location, Location?  Wash Park is it!  A short commute to downtown Denver or DTC via private or public transportation.  Downtown includes both work and play opportunities with the primarily office DTC area adding entertainment options on an increasing basis.  For many residents it is the park itself.  A 32 square block urban oasis with two large “lakes” (ponds if you are from a part of the country with “real” lakes) hike/bike trails, tennis courts, picnic areas and just a lot of open space.  One of the largest park in the city, and for many, the best.  There are several one and two block commercial areas with retail, restaurants and coffee shops.  This is a VERY “walkable” neighborhood!

Who Lives In Washington Park?

There is more accurate census data available, but I will give you my anecdotal information based on the profile of my clients who want to live there as well as who I observe as the sellers of the homes that I see.  Couples and singles of all age groups who place a higher value on the park and the shorter commute than on the larger and newer home available at comparble prices in the “burbs”.   There are families with children with the young ones typically pre-school.  Some of the families remain in Wash Park as the kids start school and find a way to make it work.  Many others elect to move to an area that offers more highly rated schools.

What Kind of Housing Will I Find In Washington Park?

It is becoming more eclectic.  A few years ago the “typical” Wash Park home was either an early 1900’s bungalow of 800, 1000 or 1200 square feet or a 2-story “Victorian” of similar vintage.  That has changed with much new construction as a result of “scrape-offs” of the old housing and “pop-tops” of the bungalows.  This new housing has provided options for those who want to stay but are not willing to forego some of the more modern conveniences.  There are some newer and older “side-by-sides” and townhomes as well as several mid-century high-rise condominium buildings.

What Range of Prices Will I Find?

Almost all of the Washington Park housing stock is well above the median price for the metro area.  For 2009 the median list price for detached homes was $550,000 ($350 per square foot) and for attached/condos $315,000 ($279 per square foot).  The highest/lowest listed prices were $2,100,000/$185,000 for detached homes and $1,300,000/$106,000 for attached/condos.

How Can I Get More Information About Homes In Washington Park?

I hope that you will call me.  I am an Exclusive Buyer’s Agent (EBA) with experience in Wash Park and can give to you the level of service that you deserve to have.

Russ Murray       303-721-1100   russ@buyerbroker-denver.com

What's not to like?

Denver, Colorado is a  desirable destination

I have watched even those who at first worried about cold weather and snow become some of Denver’s biggest cheerleaders.  The 300 days of sunshine are NOT a myth and yes, we have some cold weather and yes, there is the occasional major snow storm but there is never a month without a “rag-top” day (top down on the convertible for you non-fans of Jimmy Buffet). Golf is a year around activity and skiing can be as close as an hour. (The major destination resorts are admittedly more distant from the Denver area.)  One of the most common observations from my clients who have recently moved to the Denver area is that “everyone seems so friendly”.  We think that may be a result of the sunshine.  Humans really are in better moods when exposed to sun.

All of the research shows Colorado residents to be among the highest of all states in health and fitness.  Again, you can “play outdoors” all year long.  Remember, Denver is not the “mountains”.  It is “The Queen City Of The Plains”.

Okay.  But Where Should I Live In The Denver Area?

Wow!  Lots of choices.  As with any large metroplex there are many options.  Your choice will always be affected to a large extent by your budget.  After that, you may be looking at commute times and schools.  You will be choosing from among many typical suburbs constructed from the 1950″s on to some of the interesting urban areas with homes built from the late 1800’s.  My observation, after hundreds of buyer clients, is that many (most?), particularly families with school-age children, will trade some commute time to live in a newer and larger home.

City of Denver Neighborhoods

Over the past 15-20 years there has been a major shift to living close to the Denver core.  Most of my buyers in these locations are singles or couples without children.  The associated supply/demand ratio has resulted in increased prices in the close neighborhoods plus major new construction.  There are certainly many options whether you are considering the southeast Denver Neighborhoods of Welshire, Washington Park, Platte Park, Lowry, Cherry Creek, Hilltop,  Bonnie Brae and Belcaro; the Northeast Denver neighborhoods of Stapleton, Congress Park, Capitol Hill, Park Hill,  Lower Downtown, Riverfront and City Park; or the various Highlands neighborhoods to the northwest, to name some of the more well known neighborhoods.  I expect to address each of these in subsequent posts to provide both objective data as well as my more personal and anecdotal observations.

Suburban Living is Better for Some

Your choice of which direction to go for a suburban lifestyle may well be driven by your anticipated commute.  If your work is in “downtown Denver” some of the north and west cities offer good commutes. Lakewood, Golden, Arvada and Wheat Ridge are some of the closer areas.  A longer drive to Northglenn and Thornton will be rewarded with lower prices.  And there are cities further away as well.

If your work is in the Denver Technological Center (DTC), the large office park to the south, you may well consider Centennial, Littleton, Highlands Ranch, Aurora, Parker and Castle Rock.

There are more cities and neighborhoods to explore and consider and the mention above relating to commutes does have some overlap along with the acknowledgement that there are factors other than commutes that are going to affect your decision.

You Can Get Help With Your Denver Area Move

I have been assisting people moving to the Metro Denver area for over 20 years.  Because I always and only represent buyers, I do not focus on one area and have clients from Elbert County (pretty far east) to Evergreen (foothills west).  If you are new to the area you want an agent who can help you to evaluate your options and find a location that will be a good fit.  Call me for help.

Russ Murray, Exclusive Buyer’s Agent

303-721-1100, ext. 1

russ@buyerbroker-denver.com

Your "Rocky Mountain" Home

The Foothills Dream

Many of you who are moving to Colorado and to the Denver area are thinking in terms of that “Rocky Mountain Experience”.  A bit of reality is that Denver is “The Queen City of the Plains”.  Get it? Plains.  As in flat. (Well, pretty flat.  On my bicycle it is admittedly hilly.)  So to have that mountain experience you will likely be heading west of Denver to one of the foothills communities of Evergreen, Conifer, Genesee and parts of Golden.  There are some wonderful and beautiful settings in these areas.  Beauty and “wonderfulness” come with a price.

Some Foothills Realities

It should be a his and hers decision.  My experience is that the “dream” is usually “his” and the responsibilities and inconveniences become “hers”.  The drive to shopping is invariably longer and your children have little mobility independence.  You (her?) will be driving them everywhere!  You now exist somewhere between spouse, mom and bus driver.

Oh yeah, the sun sets earlier too.  I was just showing homes in Conifer and while we were standing in the shade, we could see the sunshine on the ground to the east.  This is generally more significant during the shorter days of fall and winter.  You really did not want to garden anyway.  Right?

The reason for not placing your trash out until the morning of pickup does not have to do with neighborhood esthetics.  It is so that bears are not attracted.

It Does Work for Many Families

Okay, maybe I should have hit some positive points first.  I sometimes get so caught up in my role as a Buyer’s Agent that I tend to provide the negatives first.  If you are still reading, then you may be a candidate for a great experience.  I never fail to stop and watch the herds of deer and elk as they nochalantly walk through the neighborhoods.  Beautiful!  Not too bad either is being 20-30 minutes closer to skiing.  I do have many friends and clients who have lived in these areas for years and they would not even consider living with the “flatlanders”.  They have determined that the views, tranquility and environment are more than a reasonable tradeoff for a few inconveniences.

Want The Best Help With Your Foothills Purchase?

I am an experienced Exclusive Buyer’s Agent with the knowledge of these communities that will help your family to have a great experience.  You can email me at russ@buyerbroker-denver.com or call 303-721-1100, ext. 1. ]]> http://talkingdenverhomes.com/2009/12/28/are-you-a-mountainfoothills-person/feed/ 0 http://talkingdenverhomes.com/2009/12/16/what-is-going-on-in-castle-pines-village/ http://talkingdenverhomes.com/2009/12/16/what-is-going-on-in-castle-pines-village/#comments Thu, 17 Dec 2009 01:18:12 +0000 Russ http://russellmurray.realestatetomato.com/?p=122 My “Anecdotal” Observation

I am currently representing a couple whose primary focus is on Castle Pines Village (CPV), a luxury gated and golf community to the south of metro Denver.  Because of their schedule and need to narrow their search I previewed eight homes yesterday.  Asking prices were from $800,000 to $1,200,000  Two of the homes were occupied, two were being “packed” and four were vacant.  That is a reallly unusual ratio of essentially unoccupied homes and is testimony that the market is soft in this luxury segment.

What Did I Find Next?

They had enough interest in one of the homes and requested a preliminary evaluation so I searched for recent sales of similar homes.  Of the six recent sales, one was “lender owned” and two were “short sales”.  Days on market were 717, 606, 113, 208, 170 and 622.  A full 50% of these transactions were of the “troubled” variety.  Several of these had turned over twice over the past three years and we found a reduction in price of from 15% to 30%.  Those figures are almost unheard of in a community like CPV.

Is There a Lesson or a Message?

I think so.  It is that this economy is reaching both up and down the ladder and having an effect on higher income owners along with lower and middle income people.  Because we don’t know all of the circumstances we can certainly not make any judgements, but with this kind of result there becomes a better understanding of why high LTV jumbo loans are so scarce and why lenders have so tightend their underwriting.

Why should I (You) Care?

If you have been considering CPV there are opportunities for buyers.  While you may not realize as much from the sale of your, say, $400,000 home as would have been the case 12-15 months ago, the potential savings if you “buy up” will be significant.

You can contact me to discuss your individual situation at 303-721-1100, ext. 1 or russ@buyerbroker-denver.com

Dream or Nightmare?

Close to “Downtown” and “Charming”

A significant number of my clients approach me with the goal of living close to the city core and in a “period” type home.  For Denver that usually means such neighborhoods as Washington Park, Congress Park, Park Hill, Capitol Hill, the Highlands neighborhoods and several others.  They are seeking the convenience of living close to where they work and/or recreate as well as the “charm” and anticipated “quality” of the home.

Look behind the facade

Homes in these areas will have been constructed between the late 1800’s and the early 1900’s. (More in another post about “mid-century” homes.)  As to “quality”, if the home has not been unfortunately “updated” to a 1950’s or later “look”, the buyer will find some of the sought after ”charm”.  However, many of these older homes also come without true foundations, with lead water lines, no insulation “knob and tube” wiring, undersized electric panels and very scary heating systems.  Just in my office, our experience is that 20% of these homes have old clay-tile sewer lines that are leaking and discharging raw sewage underground.  We have a conversation with our clients regarding these challenges at the beginning of our search.  I sometimes (tongue in cheek) recommend the DVD of “The Money Pit” with Tom Hanks and Shelley Long as a fun way to see the worst case.

You can minimize the risk

The best way to minimize (but not eliminate) post-closing surprises is to find an inspector who is not just “experienced”, but who is experienced with these vintage homes.  You may need a separate inspector for a vintage heating system (if you expect to nurse it along) and, ABSOUTELY an experienced professional to video the sewer line.  Our clients have saved more money as result of a sewer video than for any other identified deficiency.  Your broker should be familiar with all of these conditions and have professionals who can help.  You will still want to interview several inspectors and even obtain references.  Inspections are always important and even moreso if you are jumping into the vintage home market.

Keep a positive attitude!

I recently visited a client who had just completed a $500,000 renovation on an $800,000 purchase and we noticed that a steam heat line was leaking.  Her response? “It’s just part of living in an old home!”

Have an experienced broker on your side!

If your dream is to be in one of these classic and interesting period Denver homes and you want to pursue that dream with an Exclusive Buyer’s Agent who can help to make it a great experience, then contact me.  russ@buyerbroker-denver.com or 800-621-9747. ]]> http://talkingdenverhomes.com/2009/12/14/money-pit-do-you-really-want-a-vintage-home/feed/ 0