Lone Tree, Colorado is a great community that offers annual events for all residents.  Each year the 4th of July Celebrations are worth staying home for.  In fact the celebration has been so popular in years past the City of Lone Tree has had to restrict attendance in order for the citizens of Lone Tree to be able to attend. 

This means an extra step for residents in the weeks prior to the 4th. It is necessary to visit the Lone Tree Civic Center to obtain a FREE wristband in order to gain entrance to the Celebration.  In order to receive the wrist band, one must provide I.D. with a Lone Tree address.  Each address is entitled to 4 wrist bands for FREE and can purchase an additional 4 for a small donation.

After waiting a couple minutes in line, I can tell you the wristband are very popular.  It seems everyone wants their 4 and 4 more!  (This year I have an extra one, maybe I should sell it on eBay?)

Festivities begin early on the 4th with a 5K Firecracker Run/Walk beginning at 7:30 a.m.  Registration includes the highly coveted Firecracker Run Cotton T-shirt!

A little later in the day, staging for the Parade begins with a free bike decorating event.  Residents will meet at Lone Tree parkway and Club Terrace to pimp out their bikes for the big Community Parade.  Parade Staging begins at Jubilee Fellowship Church (9830 Lone Tree Pkwy) at 3:15 p.m.

The Parade will march down Lone Tree Parkway and over to Sweetwater Park where the action begins at 4:00.

The crowds will gather, grabbing whatever grass or tree shade they can find.  Food vendors line the park, so there is no need to bring food, just your wallet.

The kids have a ball with all the activities, rides, face painting and all sorts of other activities will keep them busy. 

Live bands; High Country Brass, Deja Blu and Hot Lunch band will be blasting sound from 4:15 until 9:00. Sweetwater Park will be the place to BE on July 4th!

At 9:00 the fabulous fireworks begin. They are guaranteed to be good, as long as it doesn't rain or they don't set the field on fire (like last year UGH!).  Of course if they do watching the Firefighters put out the fire is almost as much fun...almost.

See you there Lone Tree! 

Happy Birthday America!

 

100 Real Estate and Relocation Tips in 100 Days (Day 93) With the advent of summer, it’s time to get outside, The Denver area has all kinds of places to swim and play. Topping an expansive list is Water World the enormous water park in the northern suburb of Federal Heights. For something unique, the 104 year old pool at Eldorado Springs is filled with natural sprig water. Broomfield Bay Aquatic Park has lots of fun features and expansive grassy area for picnicking. For folks out west, there is The Splash at Fossil Trace in Golden. The new pool and play facility in Lone Tree’s Cook Creek Park opens early this summer. The area abounds with recreation centers, which I have been told are a "Colorado thing". Highlands Ranch has 4 huge facilities, all with pools and every type of indoor activity you can think of. The South Suburban Parks District operates a dozen great facilities, including the Lone Tree Recreation Center and the Family Sports Center near Centennial Airport. The Trails Recreation Center, located in the Piney Creek area of southeast Arapahoe County is a first class facility. Denver operates recreation centers all over the city, and Commerce City and Northglenn each have their own indoor sports facilities. Many suburban neighborhoods have their own community pools, and the area has over 400 developed parks and expansive open spaces. Bicycling, amateur ice hockey, soft ball for all ages, pretty much everything you can do outside is part of the exciting background of Metropolitan Denver.

100 Real Estate and Relocation Tips in 100 Days (Day 93)

Value is in the mind of the buyer. How to find the best value for you is a process, a search if you will, but not as much of a discovery as enlightenment.

Let’s look at value from the seller’s perspective. A few sellers set a price based on what they want, and not on what the market is indicating. Most sellers set their price based on market information, known as comparable sales, with that information usually being provided by a Realtor®. Because appraisers determine value based on certain well defined strictures, most Realtors® attempt to provide their selling clients with market data similar to what an appraiser will use at the time of sale. Simply stated, that means very similar houses, in close proximity to the subject house, and sold in the past 90 days. A seller can gain a small edge by offering a house in very good condition, staged for showing, with the best terms of purchase available.

As a buyer, the value proposition starts with that well maintained house offered at the market price. Prices set arbitrarily by a seller because that is what they want do not represent a good value. As a buyer, you must first become acquainted with prices as they generally apply to house of the same type, size, and area as the most likely house you wish to buy. That will provide a framework for pricing, a component of value. A your search narrows, your agent can provide you with recent sold information, which will help you further define a most likely offering price.

With the pricing component coming into focus, other value concerns must be considered. Timing is of considerable importance. If you cannot move into your dream house until 30 days beyond your most convenient date, then the cost of that delay must be considered. If the house has deferred maintenance, then the cost of any repairs must be factored into your decision. Locational convenience must be considered. 5 minutes further from work is ten minutes a day, or 48 hours in a year. Children walking to school are preferable to a 30 minute bus ride. How far to shopping, parks, and all of the other things in you and your family’s life that require a venue other than your home?

There is of course value in a stable neighborhood verses a declining neighborhood. Proximity to transportation systems, top rated school districts, police and fire protection, all of these things affect value. While the final price is important, use care in not making price the sole deciding factor. Such a decision would definitely not represent good value

100 Real Estate and Relocation Tips in 100 Days (Day 91)

In Colorado, the Contract to Buy and Sell Real Estate is generally prepared by your Realtor®. While consumers are free to retain legal if they wish, most home sales are consummated without involving attorneys. The Contract Form, with attendant addenda, disclosures, and amendments, is drafted by the Colorado Real Estate Commission, with blanks and check boxes designed to make completion relatively easy. That said, there are 250 different boxes and blanks in the basic contract, so there is room for error. As a consumer, you must pay particular attention to any contract you sign, and if you do not understand the many variable and ramifications of the document, you should stop and take whatever steps necessary to ensure your understanding.

(Please excuse the shameless commercial here, at The Berkshire Group; every consumer is presented with a Buyer Orientation Book which includes a sample copy of the contract with explanations of the contract. We think the more the consumer understands, the better the consumer's decisions.)

Before you instruct your Realtor ® to prepare your contract to buy, there are a few things you can do to place yourself in the best position. First, read and try to understand the contract before you are placed in the emotional moment of having to sign a contract proposal under pressure. Study values during the search process, become aware of what a reasonable offer should be. Your Realtor® will help you with this educational process. Before you even look at a house, you should select the mortgage lender you will be using, and complete the loan application and credit approval process. You lender can then provide you with a loan pre-approval letter, which will strengthen the offer you make. The seller wants to have confidence that any offer they accept will close, so a strong lender letter lifts that confidence.

It is true in many cases today that disclosures can be obtained prior to submission of an offer. Reviewing those disclosures may give reason not to make the offer, saving time and effort for everyone, and signing off on the disclosures and returning them with your offer provides an indication that you are serious and forthright in your dealings. Consider the time needed to conveniently move household goods, register children for school, complete the loan process, and transfer utilities.
Make the offer as simple as possible. Complicating your offer with hard to comprehend contingencies creates doubt with the seller. Seller's want simplicity, efficiency and timeliness. The more complicated you make, the less likely the seller will accept the offer, or even return a counter that you can accept.

100 Real Estate Tips in 100 Days (Day 90)

After all of the research on the internet, deciding on which Realtor® to work with, interviewing lenders and making loan applications, and getting more advice from friends and family than you really need or want, it’s time to look at property. Whether you are looking for condos, lofts, houses, new homes or classic craftsman, you are going to get in a car and hit the streets. Here are some tips:

• Dress comfortably. You may end up really looking a house of you find one you like, meaning peeking into every corner, and checking every nook and cranny. Wear slip off footwear. Many home owners would rather you did not track the outside all over their carpet, so honor their request for no shoes on the inside. Bring a camera for outside shots, but respect the homeowner’s privacy regarding inside shots. Bring water and stay hydrated, especially if you are from out of the Denver area. Bring a notepad, and take notes. Finding the right house to call home is a process, and you will need to have notes to refer to as you search. Take a break after every six or seven houses. Your Realtor should do this, but if not, you should control this process. Looking at houses is exciting, but it is also hard and emotionally difficult work. Taking a break for lunch or coffee help to reorganize your thoughts and redirect the search as necessary.
• Searching for your new home can be stressful. If you have children, try to arrange for child care. By all means, when it gets down to the home or a choice of two or three, involving the children can be a good thing for the whole family. However, dragging children through 20 homes in 2 days can be an excruciating experience for parents and child, so if at all possible, try to make house hunting an adult activity.
• Communicate your likes and dislikes. There is not sense plowing through a dozen 2 story homes if you discover early on that the only type of house you want is a ranch. If you have to have a main floor master, stop looking at upper level master suites. If you do not want to spend more than $400,000, it makes no sense to look at $500,000 houses. You agent is not physic, so expressing you likes and dislikes makes the process better and more efficient for you.
• Bring a positive attitude. You will view many homes that are not right for you, but you are only looking for one. As much as the search has been aided by the internet there is still a need to visit and compare a collection of the most likely homes.
• Most of all make it fun. Enjoy the experience as a unique opportunity to discover and learn about neighborhoods, schools, shopping, and all of the things that come together to make a house a home. Laughter and levity will help ro make a very serious activity a little easier for you and your family.

100 Real Estate Tips in 100 Days (Day 89)

Real estate licensees continue, as they have always done, to agree to market a home for a price in excess of what the comparable market indicates is a reasonable sales price. Of course, many homeowners do the same thing when they attempt to sell their homes without professional assistance. Why does this happen, considering the time, expense, and emotional hassle that must be devoted to selling a house?

Some real estate licensees will list a home at what the seller wants to sell it for, regardless of the apparent market value. The fact is that home market listings, even over priced ones, can create traffic that may generate a sale, just not a sale of the overpriced listing. Pressure from management or family to do something, anything, can lead to sticking a for sale sign in front of hopeless opportunity.

For Sale by Owners (FSBO's) tend to price their home based on what they want, without knowing or caring about the market environment. In many of those situations, the disappointment is double, the take less than what they expected, and they usually list their home with a licensee and pay a sales commission.

Today's well informed buyer can determine a reasonable price for a home quickly, even in unfamiliar markets, based on the volume of information available to anyone just by asking. Sellers are well served by studying the market, or having a professional study the market, and price their home at a competitive price. That approach saves a lot of time and emotional damage, and gets the homeowner down the road quickly.

100 Real Estate Tips in 100 Days (Day 88)

Visitors to Denver consistently comment on the vitality of the city center. Years of planning and execution by various stakeholders have contributed to that continuing vitality. Moving forward in to the near future here are a few things on tap for Downtown Denver:

Civic Center Restoration – this wonderful public space in the heart of Denver’s cultural center has been showing its age for some time. The Civic Center Conservancy is working to complete designs and concepts to bring this area current to reflect the excitement of the rest of downtown.

16th Street Mall Improvements – the 27 year mall which serves as the spine of downtown, connecting ODO with Civic Center, is in need of serious repairs and updating. New electrical systems, ADA compliant fixtures and curbs, and the installation of new pavers will all combine to keep this showpiece pedestrian space viable for another 30 years.

Union Station – this wonderful old railroad center is now in the control of The Regional Transportation District, and will become the nexus of Denver’s light and heavy rail transportation system.

Arapahoe Square – this somewhat lackluster area immediately north of the core of downtown is due for a major injection of development. The Master Plan is soon to be put to paper, and this 20 square block area will begin to become home to people and businesses with access to Light Rail.

100 Real Estate & Relocation Tips in 100 Days (Day 87)

Based on an agreement between the Federal Housing Finance Agency, the regulator of Fannie Mae/Freddie Mac, (the largest purchasers of conventional mortgage loans in the United States) and the New York Attorney General's Office, we now have the HVCC. Here are the ten things that any party associated with a home loan appraisal cannot do to influenced or direct the results of a mortgage appraisal:

1. Withhold or threaten to withhold payment for an appraisal report (that seems fair and reasonable)
2. Withhold or threaten to withhold future business for, or terminating or demoting and appraiser (fair again, no one should be intimated to produce anything)
3. Offering express or implied future business or increased compensation (attempting to buy business is patently wrong, so we are OK with everything so far)
4. Conditioning the order of an appraisal report or the payment of compensation based on a preliminary value estimate from an appraiser. ( This is the "you break it, you buy it philosophy", still a reasonable position)
5. Requesting that an appraiser provide and estimated or desired valuation prior to the completion of an appraisal report, or requesting that an appraisal provide estimated values prior to the completion of an appraisal report. (obviously providing a desired value is wrong, and the second part leads to the potential of an improperly cozy relationship between an appraiser and a lender of Realtor)
6. Providing to the appraiser an anticipated or desired value for a subject property, except that a copy of the sales contract may be provided. ( Ok-this one is a DUH- the contract is an agreement between the buyer and seller of value, it is the desire of both parties to obtain an appraisal equal to that agreed value, or be provided with demonstrated proof that their value judgment was incorrect. As far as the buyer and seller are concerned, that is the reason for the appraisal).
7. Providing to an appraiser or appraisal Management Company, stock or other financial benefits beyond the stated and agreed compensation. (no problem here either, to offer stock or other benefits would be an inducement, which is already a RESPA violation)
8. Listing or delisting an appraiser without notice and the requirement to provide evidence of misconduct in the event of delisting. (this could be extortion, a criminal act)
9. Ordering a second, automated appraisal if you did not like the first one, unless there is clear evidence of flawed information. (In principal I agree with this also, except the presumption that an appraiser performs flawless work is silly on its face. The system is too broken today for abuses based on laziness and incompetence not to occur)
10. In other act that impairs the appraisers ability to perform an independent valuation, including violations of Truth in Lending, Regulation Z, or any number of other state and Federal laws and regulations. (this is the catch basket clause, here just to cover anything not specified earlier)

The sum total of most of the HVCC is to take the real estate/mortgage industry back to pre-1990 conditions. Appraisers acted independently then, and I suspect that most appraisers have been acting independently since then. But silly, stupid money, bad actors, and the attendant political grandstanding have delivered this rather onerous Code of Conduct to the feet of the industry and the checkbook of the consumer. Yes, the cost of compliance, so that investors can be assured that no rules have been broken, will add to the cost of every appraisal and every loan, and increase loan processing time. In the minds of a few politicians, it is better to increase the cost of a home mortgage loan to every consumer than to prosecute the bad actors.

Be that as it may, this is the way it is, so as a buyer, be prepared to extend your closing time a few days, and expect to pay $100 to $200 more dollars to close your mortgage loan.

100 Real Estate and Relocation Tips in 100 Days (Day 86)

Colorado is somewhat unique in that the standard contract to Buy and Sell Real Estate is date specific. Further, the contract, as with all forms used by real estate licenses in Colorado, are created and promulgated by the state real estate commission. Date specific means that all elements of the contract have a precise date of execution. In spite of great efforts to train and educate real estate licensees as to the importance of these dates with regard to a mutually beneficial conclusion to a contract, mistakes are made. As a consumer, it is important that you be aware of the dates and understand the logic concerning the flow of events, and be attentive to the dates involving important due diligence requirements. So here are the top ten contract date mistakes:

1. Loan Condition Dates - this mistake takes a variety of forms, with the most common and unpleasant being the difficulty of the buyer recovering earnest money if the loan is not fully approved prior to this date.
2. Appraisal Objection Deadline - With the new obligations imposed by the Home Values Code of Conduct (HVCC), just adding to the difficulties of properly completing and underwriting a timely appraisal, this deadline can wreck havoc on loan approval if not properly structured.
3. Title Objection Deadline - it is not enough to receive a commitment to issue a title insurance policy, the buyer must understand the implications of the commitment and any covenant restrictions.
4. Survey Objections - while buyers are well advised to obtain a survey, lenders many times require a survey after the dates have expired, leaving the buyer at risk if unexpected information if revealed.
5. CIC Documents Deadline - Common Interest Community Documents, or HOA documents, must be understood and found acceptable by the buyer before this expiration date. Many of these documents are lengthy and complex, and need time to understand.
6. Disclosure Deadlines - not enough time or too much time given is a common mistake.
7. Inspection Resolution Dates - often found to be written with insufficient time to complete an acceptable resolution.
8. Insurance Objection Deadline - too often this deadline is simply ignored by many consumers. There is never a guarantee of insurability.
9. Closing Date - it is amazing how many times this date is written on a Sunday.
10. Contract Acceptance Deadline - this date is simply being ignored by financial institutions selling foreclosed property.

Any and all of these dates can be and often are structured in an order that does not allow a logical flow to the contract, thereby placing the buyer at risk.