Investor Series: Why sewer scopes are important - 10/26/08 10:40 PM
 A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe and videotape the sewer all the way to the mainline. This will tell you  and the-buyer what the condition of the sewer is.      So let's see, we pay to have the furnace inspected but a new furnace will only be about $2,000. We pay to have … (0 comments)

Park Hill - A little more evidence we're past bottom of market cycle - 10/26/08 10:38 PM
Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonality)-          DOM dropping-          Stability in average sold prices and sold price as % of list-          Sold price as % original price UP a lot - banks are getting better at pricing-          Number of expired listings down Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as … (0 comments)

Foreclosures in Metro Denver - 10/23/08 10:20 PM
My agency, Your Castle Real Estate, was just featured in the Denver Post Newspaper with the information below. I have added my comments in parenthesis.
The Denver metro area has been hard-hit by foreclosures, but the reality of the situation is vastly different depending on which neighborhood you live in. (This is true - each neighbhorhood can be very different!)
While numerous reports tell a bleak story of rising foreclosures and flat house prices, an analysis of data from the Multiple Listing Service by Your Castle Real Estate shows some neighborhoods are struggling while others are untouched.
The analysis drills down … (3 comments)

Investing in Real Estate - 101 - Arvada, Colorado - 10/23/08 09:51 PM
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them.
Please offer comments - positive or negative!
Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though. 
 Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can … (3 comments)

Denver Highlands, Colorado 3Q 2008 Condo Price Performance - 10/23/08 09:35 PM
The big message has not changed since last quarter - it's still a great time to be a buyer in the condo market. Prices are at a three year low in many areas, and interest rates on mortgages are still historically low.The average condo price in Metro Denver declined 4% between 2006 and 2007: from $187K to $180K. Homes dropped 3% in that time period. Looking just at the first nine months of 2008 vs. the same time period in 2007, the price dropped 6%: from $181K to $172K. Homes dropped 11% in that time period. From their peak prices in … (2 comments)

Today's Denver Market - 10/19/08 11:02 PM
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The average price in the first three quarters of 2008 was $272,000 vs. similar period of 2007 was $308,000: an 11% decrease. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Colorado Springs or Boulder.Much of the decline is a mix issue. For example, sales volume of homes over 4,000 square feet has plummeted in the … (7 comments)

 
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Melanye Phipps

Arvada, CO

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Innovative Real Estate Group

Address: 2460 W. 26th Ave. #120 C, Denver, CO, 80211

Cell Phone: (303) 913-5325

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