Luxury Home Sales in Denver hit 2 year high in August
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Friday, September 24, 2010, 11:32am MDT
Denver-area luxury-home sales hit two-year high in August
DENVER BUSINESS JOURNAL
Sales of luxury homes in metro Denver hit a two-year high in August, indicating the local high-end housing market “is on the mend,” according to a Coldwell Banker Residential Brokerage report released Friday.
A total of 71 homes selling for more than $1 million were purchased last month, up 48 percent from 48 such homes sold in August 2009. Last month’s sales were up 42 percent from 50 high-end home sales in July of this year.
“Luxury home sales were at the highest level since August 2008, before the peak of the financial crisis,” CB’s August 2010 Denver Metro Area Luxury Home Report said. The report uses Multiple Listing Service data.
Chris Mygatt, president of CB in Denver, believes August’s high-end home sales show the Denver-area housing market continues to rebound. “The numbers show we’re significantly ahead of where we were a year or two ago, and that’s reason for encouragement,” Mygatt said in a statement.
Other high points of the luxury housing report:
• The most expensive home sold in August was an 8,346-square-foot house in Cherry Hills Village whose buyer paid $5.25 million.
• Looking at metro-area cities, Denver had the most $1 million-plus home sales, at 20, followed by Boulder with 16. Cherry Hills Village and Littleton each had five sales.
• The average number of on the market for high-end homes that sold in August dropped to 98 days, from 142 days in August 2009 and from 124 days in July of this year.
Coldwell Banker Residential is one of the Denver area’s largest residential real estate brokerage firms, with 14 offices and more than 1,100 agents.
The company is part of NRT LLC, which is a subsidiary of real estate services company Realogy Corp. of Parsippany, N.J. Realogy is owned by affiliates of Apollo Management LP, a New York-based private equity investor.
Apollo used to be majority owner of Broomfield-based Vail Resorts Inc. (NYSE: MTN), owner of Colorado ski resorts such as Vail, Keystone, Breckenridge and Beaver Creek.
Compiled by the DBJ’s Paula Moore
Read more: Denver-area luxury-home sales hit two-year high in August – Denver Business Journal
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A great honor!
Recently I recieved a very nice tip of the hat for my work as a Realtor. I was named as one of 5280 Magazine’s Top Real Estate Agent’s.
5280 Magazine 5 Star Real Estate Agent Award- Jill Schafer
The Five Star Real Estate Program did an in-depth research study in Denver in which they surveyed 10,000 – 50,000 recent buyers (all Denver residents who purchased a home over $100,000 within a 12-36 month period), readers of 5280 Magazine and 250 mortgage and title companies. In the study, these folks were asked to name and evaluate real estate agents with whom they had a direct/personal experience with and were evaluated based on:
- Customer service
- Integrity
- Market knowledge
- Communication and negotiation skills
- Closing Preparation
- Helping Buyers find the right Home
- Marketing a Home being sold
- Overall Satisfaction
The final list of Five Star Real Estate Agents include less than 7% of the real estate agents in the Denver market. I made the final list! I am one of the top 7% of Real Estate Agents in the Denver market!! I do what I do because I love it, but I have to be honest and admit it is nice to be recogonized.
It is made even more special that it is a 5 Star Award and my marketing program is based on a 5 Star plan and 5 Star Service! This past year has been a year of being honored by former clients. Honored by their referrals, honored by their repeat business and most importantly honored by their friendships. To all I have worked with before, thank you. To those I have yet to work with, I look forward to providing you 5 Star Service!– Jill Schafer
Denver makes the top 10 list again!
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10 markets most likely to appreciate
Forbes magazine turned to real estate research firm Local Market Monitor to figure out which markets have the greatest likelihood of price appreciation because they offer a mix of jobs weighted toward growth industries.
These are the top markets, the research company concludes:
1. Raleigh-Cary, N.C.
2. McAllen–Edinburg–Mission, Texas
3. Austin-Round Rock, Texas
4. Nashville-Davidson-Murfreesboro-Franklin, Tenn.
5. San Antonio, Texas
6. Colorado Springs, Colo.
7. Albuquerque, N.M.
8. Denver-Aurora-Broomfield, Colo.
9. Springfield, Mo.
10. Indianapolis-Carmel, Ind.
Source: Forbes, Francesca Levy (09/13/2010)
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Denver-area home resales down 21% in August from 2009 – Denver Business Journal
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Denver-area home resales down 21% in August from 2009 – Denver Business Journal.
RELATED: Denver home prices up 1.8% in June from 2009
RELATED: U.S. home resales plummet 27% in July; at lowest level in 15 years
Denver-area existing homes sold for an average of $268,767, up 7 percent from August 2009 and about even with July 2010, Bauer said. Stand-alone houses sold for an average of $295,516 in August, up from $273,972 a year earlier, but condos sold for an average of $159,382 in August, down from $167,090 a year earlier.
For the first eight months of 2010 through August, Bauer reported closed home resales in the metro area down 1.4 percent from a year earlier.
Existing home sales, or resales, are those of homes that have been sold at least once before. Bauer’s report does not include sales of newly built homes.
The numbers to some degree show the impact of the ending of the federal government’s first-time homebuyer tax credit, for which the deadline for homes under contract to qualify was April 30.
Analysts say the tax credit boosted home sales in the months before the deadline and moved up many purchases that otherwise might have happened in the summer, causing summer numbers to sag more than they would have otherwise.
Bauer, an independent residential broker in Littleton, uses data from Metrolist of Greenwood Village, metro Denver’s Multiple Listing Service, providing home-sale data to real estate professionals.
Read more: Denver-area home resales down 21% in August from 2009 – Denver Business Journal
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Long-Term Mortgage Rates Fall for the 9th Week
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey. (The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005.) The 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.
Italian To Die For!
Italian to Die for! That’s the slogan for Gaetano’s restaurant in Northwest Denver. If you are a fan of the former HBO show The Soprano’s, the Godfather movies, or Al Pacino in Scarface, you’ll love the feel of this local treasure. Opened by the Smaldone family in 1934, Gaetano’s still serves authentic northern Italian cuisine. My husband and I had the pleasure of sharing a wine dinner at Gaetano’s with friends/former clients Ron & Deanna Robinson this week. (See previous post about the fabulous food and wine.) Ron is the General Manager of the Wynkoop Brewery, one of the six restaurants which includes Gaetano’s owned by the Wynkoop family of restaurants;
Pushing your way through the heavy bullet proof front door into the dark, moody bar/restaurant is like taking a step back in time. You can just about imagine how the Feds used to photograph everyone who stopped by to see ‘Flip Flop’ Smaldone and his brothers ‘Chauncey’ & ‘Checkers.’ It was said the Smaldone’s were the bosses of a thriving mafia operation. There was a large gambling operation and if you needed a loan, you could head downstairs to the Smaldone’s office and borrow from one of the brothers. But if you didn’t pay your debts, rumor has it there was a meat saw down there that was used to TAKE what you owed them. The story is that your family would be told you moved to Pueblo when in fact the pieces were fed to the hogs on the pig farms in Pueblo so no evidence remained!
It is great fun to surmise what kind of things went on within the walls of this restaurant during the Smaldone crime family’s days. It is even more fun to enjoy the great food now put out by the current owners, the Wynkoop Family of Restaurants. They have done a great job of keeping the spirit of Gaetano’s alive.
Starting Friday night September 10, 2010 you can enjoy Gaetano’s and another legend of the past. Frank Sinatra impersonator, Derek Evilsizor performs every other Friday night and it is said his show is a “must see.”
You can bet I will be there sitting with ‘Strangers in the Night‘ hoping there is still a ‘Summer Wind.’ Why don’t you “Come Fly with Me” on September 10th and enjoy Italian to die for at Gaetano’s.
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- Al Pacino is Martin Scorsese’s first choice to play Frank Sinatra (guardian.co.uk)
A Denver day of good food and good company!
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–August 19, 2010
What does your perfect day look? Good food? Good Books? Good friends? Good wine? Family? Well today I was blessed to have all of those things. I started out the morning with a very fun client/friend looking for a property in a central Denver neighborhood under $200,000. Now, let me tell you, when you get below $200,000 you never know what you are going to find. So we had a few giggles along with some surprises. We found one place that was absolutely fabulous inside and horrible outside and one place that was cute outside and horrible inside. Suffice it to say, the search continues for her next home.
I took her on a tour of the changing streetscape along historic Colfax Avenue. She hasn’t been around that area for decades and was surprised to see how nice much of it looked. We browsed at Antiques Etc. on Colfax in the Mayfair neighborhood. We continued on further west so I could show her where the Tattered Cover Independent Bookstore had relocated. We enjoyed a fabulous lunch at the on site restaurant, Encore on Colfax. I selected the pulled chicken salad sandwich and Mary, my client/friend had the recommended BLT. We both thoroughly enjoyed the food. I mean, it was just a sandwich and fries and a Diet Coke (of course) but it was GOOD, really good! We followed it up with a trip through the bookstore where, my client/friend, Mary declared that although it is no longer in Cherry Creek North, it is still the same old Tattered Cover she always loved. She likes the comfy chairs and author’s gallery, the knowledgable staff and great selection. Since she is a published author, her opinion carries a little more weight than the average Joe or Jill! She is currently working on a new novel. Can’t wait to read it. We stopped by the shelf marked ‘Future Best Sellers’ to envision where her novel will go.
Later in the afternoon I was able to spend time doing my favorite thing, hanging with my boys. They just started school this week and are excited by their new teachers and classes and seeing old friends. Any day I get to spend time with them is a good day. My oldest is a freshman at Arapahoe High School in Littleton and my youngest is at Euclid Middle School. I know that in a blink of an eye they will both be away at college and afternoons with them will be rare. I treasure every minute I get with them now. Even when they are acting like typical teenagers!
The evening brought more pleasure. My husband and I were invited to a wine dinner at Gaetano’s in NW Denver with friends and former clients (sold two of their houses and helped them buy one) Ron & Deanna Robinson. Any evening with them is sure to bring lots of laughs and a good time. And this was no exception. Ron is the General Manager of the Wynkoop Brewery one of the other 6 restaurants owned by the same group that owns Gaetano’s. The wine dinner is something held at Gaetano’s every few months and I highly recommend you put the next one on your calendar so you don’t miss it. It is scheduled for October 14th.
Mario Scanu from Sardania, Italy was the wine host for our event and he and the excellent chefs at Gaetano’s, Ronda Banks and Sal Calo, paired the perfect wine with inspired dishes. We started the evening with a chilled Italian White Gazpacho with Tiefenbrunner Pinot Grigio 2009. This soup was great. I loved it. It was a great texture and was served with a crunchy fresh vegetable crostini that was perfection. Some thought the cold soup was too hot, as in spicy. But I like a little bite in my food and I thought it was all perfect.
The pasta course really won me over. I love me some risotto. This was a green onion and tomato risotto with a red wine reduction paired with Zenato Valpolicella 2007. Unfortunately, much as I adored the risotto, I disliked the wine. No explanation. Just didn’t like it. The others at my table didn’t favor it either I’m afraid. But I did hear others around us praising it.
Then it was on the main event! The entrée’ was pan-seared fennel dusted Alaskan Halibut with sweet corn puree, basil vinaigrette and tomato chutney. The chefs told us all items (except the Alaskan Halibut, of course) were locally grown. This course, it was the wine I liked and not the dish. Full disclosure, I just don’t like fish, at all. But my friend, Deanna, loves fish and raved about this dish. The wine on the other hand was excellent. All of us loved the wine. What does that say about us? Yes, they paired the fish with red wine. They were obviously feeling rebellious when they selected the Poggio al Tesoro Meditera (Syrah, Merlot.) It went great with the tomato chutney(which I did like)
Who doesn’t like dessert? I practically licked the plate! The white peach tart tatin was the perfect ending to a great meal. I ate every last bite and drank every last drop of the Coppo Moscato d’Asti 2008 – Piemonte. There is nothing like Colorado Peaches. Mmmmm… I’m making you hungry aren’t I? Don’t forget, the next Wine Dinner at Gaetano’s is on October 14th, 2010. Bring good friends. It will be an evening to remember. Or not remember, if you drink too much wine. 😉
p.s More about the history of Gaetano’s in my next blog! Don’t miss it. It’s truly a Denver treasure!
Denver luxury-home sales spike in June – Denver Business Journal
It’s Happening! The wealthy are starting to open their bank accounts and take advantage of the fabulous prices and record low interest rates to change homes, upgrade properties or just move! Denver luxury-home sales spike in June – Denver Business Journal. If you are interested in buying one of the fabulous luxury homes on the market, give me a call and I will be happy to help you through the process! Jill Schafer, 5 Star Service 720-422-0950!
Super 50’s Ranch in Denver’s Historic Montclair is For Sale
I just listed a home in Denver’s Montclair neighborhood that is in impeccable condition. I am amazed that a home built in 1952 is in such great shape. The owners did all of the right things as far as keeping their home in good shape. They replaced the concrete driveway on the north side of the home, put in new carpet and added a covered flagstone patio. They replaced the home’s systems when it was necessary and had them cleaned and maintained. Did I mention it is in impeccable condition?
One of the greatest things about this home is all of the 50’s details that are still in place and like brand new. It shows amazing pride of ownership. I don’t see that with younger home owners very often. But there is definately an age group that knows how to take care of things of value. Take a look at the photos. The built-in banquette is charming and don’t miss the custom painted PINK refrigerator! It is obvious this home was well loved.
I just need to find a new owner for it. Someone who will appreciate a solid home and find the 50’s decor charming. Whoever buys it will get a great home with a very high walk score.
Check out the photos http://homesite.obeo.com/574753.
Car Lover’s Dream Homes
5700 Piedmont Dr. Cherry Hills Village
Check out 46124 Black Spruce Lane east of Parker in Amanda Pines Estates. It’s a seven bedroom, five bathroom home and the marketing says “Need to Sell Quick. Make an Offer! Short Sale approved” But for you car lovers, it is the 2700 sq foot heated Garage/Barn/Shop that makes this property extraordinary. That is more room for the cars than the average sized home has for people! This home and its 8 car garage is currently priced at only $550,000.
I know you car aficionados’ like to keep your vehicles looking good! At 5835 S Franklin St in Greenwood Village, you’ll find two separate 3 car garages and an indoor car wash! This four bedroom, 7 bathroom home on more than an acre is currently for sale for $1,395,000.
I know it isn’t always just cars that draw the attention of motor heads. If you find yourself yearning for life on the open road and an RV is your choice of travel, you can buy a place to park it as well as 15 acres and a beautiful home in Sedalia. 1645 Big Bear Dr. and its oversized garage with RV door is priced at $1,595,000. Views of the Plum Creek Valley are the added bonus!
Do you dream of a garage nice enough to host a formal party? Check out this checkered floor beauty at 1 Thoroughbred Run in The Polo Reserve in Columbine. Space for eight cars with glass garage doors looking out on the two plus acres of land all for $1,599,000.
If acreage isn’t your thing, and instead you prefer walking to art galleries, fabulous restaurants and the best shopping in town, you need to see 216 Clayton in Cherry Creek North. It is more than four thousand square feet on the 3rd floor waiting for your personal touch. For just over three million dollars, it can be yours with room for six cars! A rare find in the city!
The home at 6234 North Crowfoot Valley Road is for the serious car collector with space for 25 cars! You’ll love driving your beauties up the one mile long driveway to this gated estate. All 75+ acres are included for $5,500,000.
Just like to look at your cars and aren’t really into driving, 4855 S El Camino Drive, Cherry Hills Village has room for 12 vehicles to rest while your driver takes you around in the limousine. There is a garage space for the limo when you get back to your $7,995,000 home!
8021 Spruce Mountain Road, Larkspur, CO
If a limousine isn’t fast enough, take your own private plane and land it on your own 5,000 foot long runway. Don’t worry, your plane won’t get cold during our Colorado winters. 8021 Spruce Mountain Road in Larkspur has its own heated airplane hanger. When you have nearly 200 acres and a 10,000 square foot home, a plane might be necessary to get around! It can be yours for just $15,000,000. No matter what your dream garage looks like or how many vehicles it fits, I can find it for you in south metro Denver and its neighboring suburbs! I’ll even let you pick me up in your favorite cruiser. You drive, I’ll navigate.
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