Former St. Anthony’s Hospital Site is set for rebirth as Sloans Development

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Skyscrapers in Downtown Denver, Colorado.

After some controversy, the Sloans development is coming to realization.  The former St. Anthony Central Hospital located at West 16th Ave and Raleigh in the West Colfax neighborhood has been scraped and will be redeveloped as Denver’s newest urban infill.  Infrastructure will be built this spring with construction expected to begin by summer.

EnviroFinance Group has placed four of the blocks under contract with local developers who will build a mixed-use area of apartments, restaurants, shops, and a hotel across West 17th Avenue from Sloan’s Lake.  The Denver Post has recently reported that an 8-screen Alamo Drafthouse Theater will be added to the development as well.

There have been opponents to this development, including neighborhood groups who are concerned with density issues.  Around 1,200 residential units are expected with building heights rising to 20 stories.  With this potential influx of new residents to the area, questions have been raised as to whether the area can handle the additional traffic.

Developers believe the project will be a strong addition to the neighborhood.  Most Denverites would agree that West Colfax could use some work… will the Sloans development be the answer?

What the Heck is Title Insurance?

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A scale house on some forms for a deed to conceptualize on the financial investment.

What the heck is title insurance? Why should you buy it?

Well… unless you are paying for your home entirely in cash, lenders will not let you purchase a home without title insurance.  Title insurance ensures that the sellers truly own the property and that there aren’t any problems with the title.

Common Problems with Titles:

1) A previous owner had some construction done on the home and never paid the contractor.  The contractor can place a mechanic’s lien on the title.  You didn’t have that work done, so you shouldn’t have to pay for it.

2)  A previous owner skipped out on paying their property taxes, which resulted in a lien being placed on the title.  Liens are placed on the property, not on the individuals, so new owners need to protect themselves against the antics of previous owners.  T

3)  Forgery! There have been cases of forgery where scam artists search public records to find homeowners who reside out of state and attempt to sell the property as their own on the internet!  (There are so many creative honest ways to make money in this world, it always blows my mind when people do things like this to try to make a buck, but… it happens.)

4)  There are sometimes cases of missing heirs… maybe a child was left in the will and became estranged from their family… years later, the prodigal son or daughter returns and technically has claim to the property. Should this be your problem if you bought the house fair and square?  Of course not!

Title insurance protects home buyers against all of these potential issues and more.

7 Mistakes Home Sellers Make – What NOT to do when selling your home

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3D render Depicting Declining Property Prices

1)  Home sellers want to put the home on the market before it’s ready.  Sellers become impatient, OR procrastinate and push themselves too close to the moving deadline without getting the pre-sale work done. So they list their home with the horrible carpet or they are painting it while it goes on the market. Presentation is everything — so get the work done before marketing the property.  Every realtor has had a buyer refuse to purchase a home because they didn’t like the paint, even though it’s a super easy fix!

 2)  Home Sellers over-improve the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it’s an anomaly, instead of a nice addition to the community.  In less desirable neighborhoods, most buyers won’t care about the custom kitchen and hottub.  They want the desirable location, and will install their own features.

 3)  Home Sellers want to price the home based on what they wish to net. This pricing strategy usually ends in failure. Sellers can control the asking price, but they cannot control the sale price. The market does. It doesn’t matter what the seller wants, the price is determined by the black-and-white, matter-of-fact reality of the market.

 4)  Home Sellers may hire an agent based on non-business factors. Make sure you’re hiring a professional with a proven track record or at least is genuinely passionate to help you!  It might be nice to hand over your largest asset to your nephew who just got his license, but make sure his employing broker works closely with him to keep your deal from going south.

 5)  Home Sellers become emotionally involved in the sale of their home. This is one of the biggest challenges home sellers face when putting their house on the market. Once you decide to sell your house, it’s no longer your home, but a commodity. It needs to be prepared as a commodity, marketed as a commodity, and priced as a commodity. It doesn’t matter what you “want,” only what the market can bear on pricing. People are going to come in to kick the tires, so to speak, and you can’t take it personally if they don’t appreciate the charms that you have enjoyed in your home.

 6)  Home Sellers try to cover up problems, or not disclose them. Most states have a property disclosure/disclaimer form — use it wisely. Just because you disclaim doesn’t mean you cannot be sued for the leaky basement or the problematic plumbing system that’s discovered 30 days after settlement.

 7)  Home Sellers fail to get their ducks in a row before trying to sell. This could involve financing issues, not reading the fine print on your current mortgage to ensure no pre-payment penalties, not investigating their local market, etc.  If your local market is dictating lower home prices, then lower the price early, not later — it will cost you more. 

Avoid these seller mistakes and many others by choosing to work with a Conscious Real Estate agent when you sell your home. To contact one of our agents, call 303-908-9873 or email our owner, Allison Parks, at [email protected].

7 Mistakes People Make When Buying a Home – What NOT to do when buying a home

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Housing market price drop concept vector illustration

1) Home Buyers don’t consider resale before they buy.  Every house will be resold at some time in the future.  Granted, you cannot predict all future changes; the area or the economy could improve or decline.  Even so, the future value of the home should be a priority.

2)  Home Buyers base their decisions on what they hear in the national news. They need to remember that real estate is local; not national.  Several times when I tell people I do real estate, they look at me sympathetically and say, “Oh, I bet things are really tough right now.”  Well, they are… in Florida, in Nevada… even Chicago.  Denver is doing just fine.  Home prices have met and exceeded pre-recession prices.

 3) Home Buyers only talk to one lender. You need to shop for a loan, just like they shop for a house.  First, interest rates can vary from lender to lender.  Second, not all lenders offer all types of mortgage products, especially major banks.  I had a client who strongly preferred a condo to a home, but was told that he would have to make a 20% down payment on a condo.  I sent him to my preferred lender and within a day, he was qualified to purchase a condo with a 5% down payment.  So, we found him a great condo!

4) Home Buyers don’t read and understand the contract.  Colorado Real Estate Contracts are over 16 pages long, and your agent should  explain the contract to you.  Second, read over the contract carefully before signing.  I have seen realtors make mistakes on important details – like dollar amounts! 

5) Home Buyers don’t get prequalified with a lender before they start looking for a home.  Consequently they may be looking for houses in the wrong price range.  I have seen clients err on both sides – some think they will be able to afford something much higher than what they qualify for; others think they will only qualify for $150,000 when they qualify for $300,000.  (Note:  You shouldn’t necessarily purchase a home at the top dollar amount for which you qualify.  It’s good to give yourself some wiggle room in case of an unexpected financial event.)

6) Home Buyers don’t do their due diligence before buying, including checking on the crime statistics, checking out the schools, and checking out the neighborhood.  Buyers should also visit a neighborhood during different times of the day and different days of week; talk to the neighbors. 

7) Home Buyers buy the most expensive house in the neighborhood.  The most expensive home in the neighborhood is never the best investment, unless an ex-President lived in the home or unless they scrape all the other houses and build new homes larger than yours.  

To avoid these buyer pitfalls, among others, let us guide you through the home-buying process. Whether you are a seasoned home-buyer or a first-time home-buyer, we will have your back every step of the day. To contact one of our brokers, call Conscious Real Estate at 303-908-9873 or email our owner, Allison Parks, at [email protected].

Conscious Real Estate Partners with Elephant Energy

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I love helping people create their homes and I love giving back.  Not only does it keep me happy, (YES, contributing a consistent portion of my income makes me HAPPY), I receive constant inspiration from witnessing the problems of our world and seeing the creative changes that nonprofits enact in our local and global community.  Elephant Energy is such an organization who has sought to implement creative solutions to problems they have identified in the world.

Over 1.3 billion people in the world have no access to electricity. Elephant Energy works to solve this problem by empowering local entrepreneurs to supply affordable, clean, and practical energy technologies to their communities. With operations in Namibia, Africa and on the Navajo Nation in the United States (under the name Eagle Energy), their technologies help reduce household expenditures and health risks associated with traditional lighting and enable children to study after dark, businesses to stay open later, and people to stay connected to news and their families.  So, what does this look like in practice?

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Meme Felicia smiles, cooking fresh cuts of meat and preparing chips in Oshikango market. She adds another cut of beef to the grill. Customers wait in line and point to the pieces of meat they want, and grab a piece of tripe to chew on while they wait for Felicia to prepare their order. Felicia serves up a plate full of food to a hungry customer, and he pays his bill and begins feasting.

What’s strange about this scene? Its hours after dark. A month ago, Meme Felicia would close her business at sunset because she didn’t have access to light.

Meme Felicia has prepared and sold food in Oshikango market for 4 years. There was no electricity at her business location, so she used candles to keep her business lit. The candles were placed above her so she could illuminate her working area, but wax from the candles would drip on the meat and customers complained. Even with the use of the candles, she would close her business around sunset because the candles could not provide enough light to operate during the night.

Last month, Felicia attended a solar light demonstration in Oshikango hosted by Elephant Energy. At the demonstration, Felicia learned about Elephant Energy’s solar product offerings, including the popular Sun King Pro. As the name suggests, Sun King Pro is powered by the sun. During the day, the Sun King Pro soaks up energy from the sun, and at night, it provides light and also charges cellphones. To those without light at night, it also provides an opportunity to extend activities after dark. And since all of Elephant Energy’s solar products come with a 1-year warranty, including the Sun King Pro, quality is guaranteed. “It didn’t take long for me to decide that this solar light would help my business,” said Felicia. She purchased the Sun King Pro from Elephant Energy a few days later.

She’s now been using the Sun King Pro for a month and in that month, she’s seen dramatic positive changes in her business. Because she no longer uses candles, she saves money on candle costs. The meat she sells is now wax-free and customers compliment her on the quality of the product. Felicia now graciously offers free cellphone-charging services for neighboring business owners. But most importantly, because her business area is now illuminated by the Sun King Pro’s light, she has been able to extend her operating hours so she can sell food to hungry customers hours after the sun has set. “Thanks to my new solar light and extended hours, I have tripled my daily profits,” Felicia exclaims.

I’m inspired.  You are too?  To learn more about Elephant Energy, take a look at their website.  Follow Elephant Energy on Facebook, Twitter, or Pinterest.  Or DONATE.

Remember, Conscious Real Estate contributes 10% of all commissions to the nonprofit of our clients’ choice and we would love to give a boatload of money to Elephant Energy.  So, give us a call at 303-908-9873 when you buy or sell your next home, tell your friends, tell your mom.  We are ready to make some change in the world!

Love for the Mile High City for Super Bowl 2014! Go Denver!

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A few days out from the Super Bowl, Denver is feeling the love.  United in Orange!  Of course, I absolutely want to crush the Seahawks, because seriously, WHO DO THEY THINK THEY ARE?  But what I appreciate even more is a feeling of unity in the city that has made itself my home… So now is a great time to show some love for our city.

We are really so lucky to live here.  We can drive an hour from our home and be surrounded by truly majestic nature.  The “purple mountain majesties” is NOT an exaggeration.  We have maintained our economy whereas many other parts of the United States been struggling.  We have fantastic sports teams to watch and a plethora of sports we can engage in on our own and WE DO.  We have developed a ton of local businesses that are a delight to support, so we make the friendly faces behind the businesses our friends.  We have no shortage of beautiful historic homes – granted, I do real estate, but I can drive down Curtis St and applaud out loud for the colorful Victorians that were built by the people who started this city and I never get sick of it.  My father taught me to appreciate craftmanship and quality and our homes have it!

So, here is a visual love poem to Denver called “Breathless,” created by Air Ball Creative for TedxMileHigh.  I don’t know these guys, but they are welcome to come over for coffee any time!  I always have at least a couple of tears by the end of this video and I have seen it at least 8 times.  If you like Ted, check out this love letter to the Mile High City written by TedxMileHigh fellow Sam Faktorow.

And here is a mashup video of the “Orchestra Show Down” made for the 2014 Super Bowl, with the Denver Philharmonic Orchestra playing against the Seattle Philharmonic.  Denver is playing “Rocky Mountain High,” versus Seattle’s “Raindrops Keep Falling on My Head.”

And finally, a bit of my own “art.”  (Do NOT quit your day job, Allison.)  I attended an event for Project Valentine, which is a local organization which makes Valentine’s Day care packages for people receiving chemotherapy on Valentine’s Day.  A GREAT nonprofit organization – click here if you would like to get involved. (The event was at The Art Salon in City Park West – also a place worth checking out!)

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I love you, Denver.  Thank you for supporting me.

Omaha!

Denver Receives 7th Place in “Quirky City Ratings”

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Photo of Sandy Root

The good people at the Movoto Real Estate Blog would appear to have a lot of time on their hands, as they decided to embark upon a meta-analysis of city rankings which included categories such as “Smartest Cities,” “Best Cities for Movie Lovers,” “Funniest Cities,” “Most Steampunk Cities,” and “Best Cities for Meat Lovers.”  (A meta-analysis utilizes statistical methods to reanalyze existing statistics to find new interpretations.)

In some categories, points were awarded for the cities who were the “losers,” such as “Worst-Dressed Cities” and “Most Unhealthy Cities.”  (I don’t mind being a loser in those categories.)  50 cities were considered across 15 categories.

Denver actually ranked highest in the “Meat Lovers” category, receiving 5th Place.  Denver placed 6th in “Funniest” and “Steampunk,” 9th in “Healthiest” and “Smartest,” 14th for “Most Exciting,” 22nd for “Hardest Working,” 23rd for “Most Saintly,” 39th for “Family Friendly,” and 45th for “Home Buyers.”

To expound upon our low score on home-buying in Denver, I agree that the last year’s real estate market in Denver was competitive and sometimes frustrating for home-buyers in Denver.  Even now, we still seem to not have enough sellers to bring us to what would be considered “a balanced market.”  However, we have historically and consistently enjoyed higher real estate appreciation rates than many cities.  (I will take an increase in home values any day over a little extra work!)  And sure, you can purchase a home for less money in many other cities, but will that city boast a strong economy to launch and maintain your career?  Plus, once you buy a home, you want your home’s value to rise.  After all, your home is one of the greatest investments you will ever make!

If you would like further amusement, check out Movoto’s blog for America’s 10 Most Sinful Cities.  Hint: Denver is NOT on the list and Las Vegas is NOT #1.

Are Denver’s Globeville and Elyria-Swansea Neighborhoods Headed for Change?

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I-70 East Environmental Impact Statement (EIS) Project - Visual Simulation of the Partial Covered Lowered Alternative

I-70 East Environmental Impact Statement (EIS) Project – Visual Simulation of the Partial Covered Lowered Alternative

Many people living in Denver have never heard of the Globeville and Elyria-Swansea neighborhoods, although these neighborhoods are almost as close to downtown as the Highlands.  These neighborhoods are north of downtown Denver and are dissected by the junction of I-70 and I-25.  Globeville and Elyria-Swansea consists mostly of smaller Victorian homes built in the late 1800’s which housed the workers of the Globe Smelting and Refining Company which processed raw minerals brought from the Colorado Rocky Mountains.

The Globeville and Elyria-Swansea neighborhoods have faced many problems in the past, due to a lack of urban planning in the neighborhood as well as environmental issues caused by the nearby industries of what is now Denver’s River North or RiNo area.  However, Denver Mayor Michael Hancock and Denver City Councilwoman Judy Montero seek to transform the area into a “Corridor of Opportunity.”  “This part of the city has been long avoided by planners, mostly because there were easier projects to tackle,” states Kelly Leid, project manager.

This project, the “North Denver Cornerstone Collaborative,” seeks to provide sidewalks, new drainage, new roads, and new infrastructure including vertical buildings to bring jobs and investment to the area.  A total of four new light-rail stations will be constructed in the neighborhood and the East Commuter Rail Line will cut through on its way to Denver International Airport.  Another project could remove the aging interstate viaduct over the neighborhood, burying it underground and replacing it with a sprawling park, which is a $1.8 billion dollar proposal.

Even if the projects come to fruition in their current form, it will take at least a decade before they’re all fully realized.  In that time, multiple administrations could come and go.  Major improvements have been announced for these areas in the past and then simply did not happen.  In addition to lack of follow-through on past promises, KUNC, a community radio station for Northern Colorado, interviewed several residents in the area and found that area residents are concerned about the gentrification of the Globeville and Elyria-Swansea neighborhoods which occurred in the Denver Highlands neighborhoods. 

Mayor Hancock is pushing for change – to turn what has been called the back door of Denver into the new front door.

Mortgage Credit Certificate Program of Denver

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Home finance concept: residential house, office calculator, colorful bar graph and color pie chart isolated on white background

Getting ready to buy a home and want to get 30% of your interest payments back?  Keep reading.

The City and County of Denver 2012 Mortgage Credit Certificate (MCC) program allows qualifying borrowers to receive an annual federal income tax credit equal to 30% of the annual interest they pay on their mortgage loan. The tax credit enables a taxpayer to subtract the amount of credit from his or her annual total federal income taxes. Borrowers may choose to adjust their W-4 withholding to account for the tax-credit benefit and receive a higher net monthly income. Any excess credit from the MCC may be carried forward for up to three subsequent tax years.

This program will run from April 2012 to December 31, 2014.  Homeowners must keep their first mortgage and occupy the home as their primary residence.  The homeowner must not have owned another home in the past three years (unless they have purchased their home in a “targeted area.”)  Furthermore, the allowable maximum family income for families of 2 or fewer is $79,300 in a non-targeted area and $91,195 for a family of 3 or more, while the maximum family income is $95,160 for a family of 2 or less in a targeted area and  $111,020 for a family of 3 or more in a targeted area.  Click here for a list of targeted areas.

Note:  You must contact the appropriate government agency about getting an MCC before you get a mortgage and buy your home.

For a list of lenders who participate in the MCC program of Denver, please call us to get started at 303-908-9873.

Posner Center for International Development

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On one of my adventures through my neighborhood, The 80205, I saw the horse barn a couple years ago and thought, “Someone should really develop this.  It would make great condos.”  Thankfully, someone did develop this building and they had a much better idea than condos!

Denver’s Historic Horse Barn in Curtis Park has been renovated into a hub for local and international development.  The Horse Barn was built in 1882 at 33rd and Arapahoe to house the horses and horse cars used for transportation at that time.  In 2008, this was the last building standing of its kind, was in major disrepair, and had been vacant for years.  The Denver Housing Authority purchased this building intending to scrape it and build housing.  Joe Noble of the Curtis Park Neighborhood Association argued that the building has historic value and should not be destroyed – Thank you, Joe!

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The barn was developed into the Posner Center for International Development by tres birds design/build firm, which houses over 40 international development organizations, such as Elephant Energy and PowerMundo, as well as the local nonprofit, Denver Urban Gardens.  The design accommodates both private and shared work spaces, including former horse stalls transformed into private rooms, and sports an open modern kitchen for fundraisers and Urban Garden cooking classes.  The Posner Center also hosts the Curtis Park Neighborhood Association meetings.

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