Belle Creek to Break Ground on Playground Wednesday!

Excavation on the Belle Creek playground will start this Wednesday.  The excavation of the site and installation of the playground is projected to take 2 weeks.  With that in mind, we are planning on doing a mulching day on August 7th starting at 8 a.m.  Please let me know if you will be able to help out.  With enough help, it should only take us a couple of hours to complete the project.  I also hope to have enough volunteers to plant two trees on that that day for shade behind the benches.  We will need wheelbarrows, rakes and shovels.  It would also be good for workers to wear gloves.  

Oakwood Homes Opens in Belle Creek

Oakwood Homes is Excited to Be Part of Belle Creek – The Perfect Place to Call Home!

Henderson, CO---Oakwood Homes, Colorado’s largest privately held hometown builder, celebrates its grand opening at Belle Creek this Sunday.  Once you visit Belle Creek, you won’t want to leave.  Community gardens, retail shops, school and open parks are right outside your doorstep.  Yet- the hustle and bustle of Downtown Denver is just minutes away.  The Belle Creek collection showcases 6 floorplans including delightful front porches, spacious kitchens and dynamic master baths.  These classic architectural designs offer up to five bedrooms, three baths and two-car garages on both the four alley load plans and two front load plans with pre-model pricing from $179,500 to the $218,600 with up to approximately 2,100 square feet. 

Visit Oakwood’s Belle Creek sales office Tuesday through Sunday from 10 am to 6 pm and Mondays from Noon to 6 pm to experience The Perfect Place to Call Home!  For more information or to schedule a community tour, contact Dwayne Montoya at 303.486.8728, or visit Oakwood Homes online at www.HomesPeopleLove.com. 

Good News For Sellers : Housing Starts Fall To 1-Year Low In May 2010

Single-family housing starts plummeted to a one-year low in May, just 30 days after soaring to a 20-month high.  It's no wonder home builders are confused.

Against a revised April figure, Housing Starts fell 97,000 units in May, a figure representing almost one-fifth of the total market size.

It's the worst showing for Housing Starts since May 2009, a surprise to builders and economists alike.

Furthermore, single-family Building Permits plunged in May, too -- down 10 percent from April. A permit is a certification from local government that authorizes home construction.

Housing permits are a precursor to Housing Starts with 82% of homes starting construction within 60 days of permit-issuance. Fewer permits, therefore, directly reduces the number of new homes coming to market in the coming months.

For home buyers in Henderson , this should create a sense of urgency.

Home prices are based on supply and demand and supply appears to be falling about the same time that economists predict a surge in home demand.  It could spell rising home prices and a complete loss of negotiation power with home sellers.

For now, though, home affordability remains high with properties cheap and mortgage rates near all-time lows. If you plan to buy a home later this year, the May 2010 Housing Starts data may be a reason to move up your timeframe a bit.

Uncharted Territory- the End of the Tax Credit

The end of April marked an historic event.

Think about it.  Never before in American history has there been a homebuyers' tax credit.  On April 30th, it expired.

We are in uncharted territory

If you were planning on buying your first home, or even replacing the home that you had lived in for 5 of the last 8 years, you would get FREE money from the government if you were under contract by the last day of April.  That contract would have to close by the end of this month to qualify for the tax credit.

So, what impact will this have on our market?  No one actually knows.  The first deadline for the credit was scheduled for the end of November, 2009.  Eager first time homebuyers rushed to the closing table to make the November 30 deadline- in spite of the holiday weekend that bumped right into the deadline.

This time, however, the impact seemed slightly less notable.  Many houses went under contract well before the April 30 deadline, and closings were spread out over April, May and June.  There is speculation that some home sales were "borrowed" from the coming months because of the tax credit, and this certainly has some merit.  

Meanwhile, showings of for sale properties dropped.  If you are trying to sell a home, you have seen this effect.  It's time to sit tight and have patience.  

As I said, we are in uncharted territory.

Summer Events In Belle Creek

Get Ready for Summer Fun!

There are a lot of great things happening in Belle Creek this summer.  Starting next weekend, there are plenty of great family activities to keep us all smiling:

June 5:  Community Garage Sale and Community Fair
Got Stuff?  Need Stuff?   Saturday, June 5 is the Annual Community wide garage sale.  Set up your sale in your garage, alley, or front porch- or rent a space on the central park.  Contact the Belle Creek Family Center to rent a spot.
Also at this time will be the Belle Creek Vendor Faire in the Family Center Gym.  Pick up a gift for someone special- or yourself!
The Neighbors to Neighbors group will be selling cold water and manning the jumpy castle at the central park.

June 19: BLOCK PARTY
There will be 3 Block Parties  this summer, sponsored by Neighbors to Neighbors of  Belle Creek.  The first will be at the pocket park at Dayton Way and 106th, on the south side of the neighborhood.  ALL are invited to attend.  More details will come soon.

Look for more events here, including National Night Out (August 3), Block Parties, Belle Creek Movie Nights, and other community events)

First Belle Creek Movie Night- Finally!

What a great night for a movie!
Friday was calm and the weather was perfect to sit in a sleeping bag and enjoy "Cloudy with a Chance of Meatballs".  Belle Creek Movie Nights are back after a non- start.  The original launch of May 14 was rained out in a big way, but now we know it's summer in Belle Creek.
The next movie is "Tarzan" on June 11, starting at around 8:28 (sundown).
See you at the movies!

Movie Nights in Belle Creek Start this Friday!!

May 14th
Cloudy with a Chance of Meatballs. Starts at approximately 8:07pm (dusk)
Our long awaited family fun nights return!  Bring extra blankets and get comfy.  It's gonna be a blast!

How Many Showings Does it Take?

When selling your home, one of the "moving targets" is the number of showings to expect.  Not surprisingly, the number of showings goes down during the holidays and during cold winter months when the weather is unpredictable.  But different price points will also experience different levels of activity.

Following is a breakdown by price level of home many showings per month we experienced in the Denver Metro market for the first quarter of 2010:

• Overall, the number of showings per month for all price categories was 8.7 per home.
• Homes under $250,000 saw an average of 10.5 showings per month, with the $50k-100k range seeing the highest number of showings per month at 15.
• Homes from $250k-300k saw an average of 7.4 showings per month.  Homes from $350k-400k were at 3.7 showings per month.
• Homes in the higher price ranges, from $400,000 up, saw an average of 4.8 showings per month.

The good news for those selling homes in the $250k-400k price range is that the number of showings increased year over year: from 4.7 in 2009 to 6.1 for 2010.  Homes above that range increased from 3.4 to 4.8.  Homes priced in the lower ranges held steady at 10.5 showings per month.

Buyers are getting back out there, which is good news for all homeowners.  With renewed interest and activity in residential real estate, we will see a ripple effect throughout the economy.

I Thought You Said That House Was Under Contract?

What Does “Under Contract” Mean?  What Comes Next?

Recently, I was driving through our neighborhood with a buyer.  He was very interested in a property a few months ago, and had been considering making an offer.  When I called the listing agent to let her know of our intent, she told me it had just gone “under contract” and was no longer available.  When we drove past this property last week, the sign was still in the front yard.  “I thought you said that home wasn’t available?” he asked.  And it’s not.  It is still “under contract”.

  How properties go Under Contract, and what happens next. 

When a buyer finds the right home, he or she makes an offer.  This is presented on the Colorado Contract to Buy and Sell.  It is a detailed contract with a schedule of dates, room for contingencies, attachments, concessions, offer price, financing arrangements and appraisal requirements, among other things.  It is 12 pages long, and is designed to protect both buyer and seller during what is often the largest sales transaction private parties ever make.

When buyers purchase a home, they want the assurance that they have thoroughly researched their purchase before the sale is final, and that no other buyer can purchase the property out from under them during this time.  If the buyer and seller can agree on the initial terms, both parties will sign a binding contract that allows the buyer to do this research.  The property is then “under contract”.  This period usually lasts from 30-60 days.  A short sale listing can take longer- sometimes several months.

The buyer is then responsible for doing this research, and there is a time limit and an Earnest Money deposit submitted so that the seller is protected.  

These steps include applying for a loan, having a certified inspection of the property, obtaining title and title insurance, obtaining property insurance, reviewing any HOA documents, reviewing Improvement Location Certificates or surveys of property boundaries and making sure the property appraises.

The For Sale sign remains in place during this process because the sale is not yet completed.  Often times, the Realtor will place an “under contract” banner on the sign.  The idea is that it “ain’t over ‘til it’s over,” so the sign remains in place until funds have been transferred and keys are passed to the buyers.

Movie Nights in Belle Creek!

Hard to believe that summer is around the corner.  The flowers are finally starting to bloom, and the trees are leafing out.  Finally- that was one harsh winter!
With late spring comes the return of Movie Night in Belle Creek!  I can hardly wait- we've got some great ones this year:
May 14th
Cloudy with a Chance of Meatballs. Starts at approximately 8:07pm (dusk)


June 11th
Tarzan.  Start: approx 8:28pm


July 9th
Bolt.  Start: approx 8:30pm


August 13th
Monsters vs. Aliens.  Start: approx 7:59pm


September 10th 
Grease.  Start: approx 7:16pm


All movies will be screened on the multipurpose field on the south side of the Family Center (the Soccer Field).  See you at the movies!

Coming Soon! 10813 Belle Creek Boulevard

You are not going to believe how beautiful this home is!
3 spacious bedrooms, 2.5 bathrooms in this 1763 square foot home.
472 sqft finished basement.
Top notch designer finishes everywhere- Wow!
Join me Saturday, April 17 from 11am - 2 pm to see this spotless beauty.
Check out the pictures:

Inspired! Appealing Property Taxes to Lower Them, Steps 1 and 2

Yesterday, I read an article on msnbc entitled "High Property Taxes? 4 steps to lowering them."
If you have lived in Belle Creek for long, you no doubt have watched our sales values take a hit, while our property taxes stay high.  I am a serious proponent of supporting public schools and having good roads, and taking care of our parks.  I am also a pretty big supporter of not paying too much for property taxes.
When we got our tax bill this year, I stared at the nearly $4,000 and swallowed the bile rising in my throat. Good lord, isn't there something we can do about this?
Turns out there is.

Step 1: Track Down the Paperwork.  

This is where I am in the process.  I called the Adams County Assessor's office (303-654-6038) this morning after trying to find the form on their website.  A very nice and knowledgeable employee told me that Notices of Valuation were sent May 2009, and they are only sent every other year.  On the back of this notice is the form for appealing your property taxes.
Unfortunately, I am not as organized as I would like to be, and I have no idea where I put that form.  When it comes to business, I can lay my hands on paperwork at a moment's notice, but when it comes to personal stuff...
He must not have been working in county government for long, because he laughed and told me he would send out another copy right away.

Step 2: Understand the Process

Although there is a form on the back of the valuation notice, you do not need it to appeal your tax value. You must submit a written protest, but it can be done by mail, fax or in person.  This must be done before June 1.  If you submit it in person, you can sit with the county appraiser and discuss where the value comes from and plead your case.
Be sure to bring as much evidence as you can.  If you have a recent appraisal, this will help.  Also, bringing a list of recent sold comparable properties in your neighborhood will help.
I have only gotten this far in the process myself, so I will report what happens as it happens.  Wish me luck...

If you would like assistance in appealing your property taxes and need recent solds in  your area, please email me or call me at 720-341-5235.  This is a FREE service that I am happy to assist you with.  

Adventures in the Good Faith Estimate and Refinancing

A “Simplified” GFE?

Making the Good Faith Estimate More Transparent May Make it More Difficult to Close

I have been living in the same home for almost 8 years now.  It is cozy and has enough room for my family.  We have designed it to suit our needs and updated or upgraded paint, bathrooms, basement.  

When we bought our home, we got a great deal on it (for the time!), and we were able to put down a pretty decent downpayment after selling our previous property.

So, our loan isn’t big.  It was originally with ABN-Amro and along the line it was purchased by WaMu.  We had no problems with that, and in fact, when  we were sent a mailer about doing a re-fi several years ago for a flat fee of $495, we decided to go for it.  We were smart- we got an adjustable rate (not the smart part...) mortgage, took a little cash out, and went on with our happy lives.  

We are thankfully nowhere near being upside down on the house (that’s the smart part), but one of these days it IS going to adjust.  Mind you, this won’t happen for at least another year.  With interest rates being low, we decided now would be a good time to lock in our rate.  If we could do that now, we would drop the interest rate down over a point, without changing our payment.  Score!

Enter Chase Bank

In the meantime, Chase acquired WaMu.  (Cue the music: Duh-duh-DUHHHNNNN!)  People have many different stories to tell about their experience with Chase Home Loans.  This is mine:

It started with a call to the 800 number on my loan statement to try and get the right department.  This was an adventure in its own right and might even be worth another blog.

Once I got through to the correct department, I spoke with a very nice man whom I’ll call AxA.  AxA was very informative.  Per the notes I took during this first call, he told me that it would be no problem, we might even be able to lock in a rate without an appraisal!  Because we are already Chase customers, there is no origination fee!  There won’t be any points!  We have great credit!  He! was! very! Enthusiastic!!!  In double time, with me furiously taking notes, he said that there would be a processing fee of $750, but we would get some of this back at closing.  It turns out that we would need a full appraisal, but that was to be expected in this market.

The Good Faith Estimate Arrives

Per the new regulations and Truth in Lending, a Good Faith Estimate is sent when you originate a home loan, and then a final one is sent just before closing.  There are certain fees that a consumer is able to “shop”- among them title insurance, home inspection and a couple of others.  Because we are not purchasing a different home, inspection is not necessary.

I tore into the paperwork to see what lay inside.  This document is dated January 15- the new Truth in Lending went into effect January 1, so this would be my first glimpse.

I glanced down the page.  At the bottom, “Summary of Charges:  $2560.47”

What.  The.  Hell?

Origination charges 1510.59.  “All other Settlement Services” 1049.88.  I don’t think so.  

Next:  RealtorJenn gets to the bottom of it...

Belle Creek Family Center: Upcoming Events

Don't miss the Easter Egg Hunt and Breakfast!
Come join us March 27 at 9am at the Belle Creek Family Center.  Grab your Easter basket- the Easter Bunny is expected to hide lots of treats and fun things to find!  The hunt is on rain or shine- or snow.  See you there!

Real Estate Buzz: Activity for February 2010

The action in Belle Creek is really picking up!  Thankfully, many of the "For Sale" homes in our neighborhood are being sold.  This is great news whether you are thinking of selling or not.  When existing inventory clears our, it means less vacancy, and eventually, higher home values for the Belle Creek Real Estate Market.
Here is a snapshot of what we saw in February:
3 houses went under contract in Belle Creek in February.  This means that there is a signed agreement between the buyers and sellers to purchase the home within a given period of time (anywhere from 30-60 days, usually).  During this time, the buyers will secure financing and inspect the property and the sellers agree to take it off the active market.  Earnest money has been given to the home sellers by the home buyers as a show of good faith and their intent to see the contract through.
The properties under contract are:

• 9645 East 105th Avenue
• 9443 East 106th Drive
• 10933 Belle Creek Boulevard

These are what are known as pending sales.  Pending sales are a leading indicator- they show us what is likely to happen over the coming months.  The downside to pending or under contract sales is that we do not know what the offer price is or what the actual sales price will be until the sales close.

That said, there were 2 closed sales in Belle Creek this February!  They were:

• 10967 Beeler Street.  Listed at $210,000, sold for $212,500
• 10745 Boston Street.  Listed at $225,000, sold for $220,000

What You Don't Know Can Haunt You: Shovel Your Walks, Please!

Section 19-1 of the Commerce City Municipal Code is a ZERO Tolerance Ordinance

Exhausted, we pulled up to the front of our home on January 2, after an 18 hour cross country drive.  We had not stopped to rest overnight, preferring to get across Iowa and Nebraska in the frigid temps as quickly as possible.  Plus, at one point over the Winter Holidays, I80 had been shut down due to snow and ice, and we did not want to risk spending several days on a hotel lobby floor or in a truck stop with a young child and a dog.

But, we came home to plenty of snow.  We had been gone for over a week and had no idea when the snow came, or how many times it had snowed, but a makeshift path had developed on the sidewalk beside our house where people had gone on their daily sojourns.  I removed the "warning" slip from the city and the next day diligently shoveled our sidewalk.

Too little, too late.

About a month later came the court summons.  This was no joke, no minor oversight.  My husband and I spent about 3 hours in court on Thursday morning finding this out.  Before we went before the judge, the City Attorney called us into his office to talk about our plea.  He was very serious about the matter.  this is a ZERO tolerance issue.  It does not matter that we were out of state.  It does not matter that that was the side of our house and our neighbor had kindly taken care of the front walk, so half of it was done.  Here is what the  Commerce City Ordinance reads:

Sec. 19-1. - Duty of owner, occupant, etc., as to maintenance of sidewalks.

The owner, occupant or agent of the owner of any building, property or lot in the city shall maintain the sidewalks for the property including those on public rights-of-way in a clean condition and remove snow and ice from the sidewalks within twenty-four (24) hours after each snowfall.

I had never even heard of this ordinance, but I know it now.

We were lucky though.  The judge gave us the minimum fine of $25 because it was our first offense, and after court costs it came to about $60.  And I can guarantee that there will be no further offenses of that sort.  So shovel your walks, neighbors.  Then go out and play!

Belle Creek: a Community with Open Hearts and Open Arms

The goal wasn't lofty.  It wasn't insurmountable.  But to a young man undergoing intensive chemotherapy and trying to support a young family, $2500 is a lot of money to pay out of pocket for his deductible.
Enter Belle Creek residents and friends.  When Jamie Latham Shaw put together the spaghetti dinner fundraiser to help our her friend, she was hoping for about 250 people at $10 a plate.
"I figured that was a reasonable goal." says Jamie.  "Between the neighbors and Levi's church, we could likely get that many here."
And how.
As the sun was setting on that February evening, people began to pour into the Belle Creek Family Center to show their support.  Donations of food poured in in the weeks leading up to the event from community members and restaurants alike, including food from Olive Garden.
A silent auction was arranged, with everything from babysitting services to Arbonne gift baskets to gym memberships.
"It looked almost like a flea market in here," commented Jamie afterword.  "People were amazing.  Every last item was bid on.  The people in this neighborhood are awesome!"
She went on to say that most people who won their auction items wrote checks to support Levi for more than their winning amounts.
The look on Levi's face was priceless.  If you have ever met Levi, you have seen his infectious grin.  It was like a beacon of warmth and light that night.  "People were incredible," he said. "I met people from the neighborhood that I never even knew.  They made a point of coming up to introduce themselves and say they just wanted to help out.  I feel so incredibly blessed."
At last count, Levi thinks there were about 500 people here, not counting kids.  "But I still haven't gone through all the pictures," he says with another one of his smiles.
And that goal of $2500?  "Well, let's just say that we went well beyond that," Jamie says with a laugh.  "Levi won't have to worry about his deductible, and he can concentrate his energy on getting better."
This is why Belle Creek residents love it here.  Levi was just beside himself at the turnout.   But Jamie put it best when she said, "people just want to give.  When so many people out there are trying to make ends meet, people want to be a part of something larger than themselves and give whatever they can.  Every little bit makes a difference."

Want to help out?  Chick Fil A, one of the generous donators at Levi's dinner, has taken it upon itself to host another fundraiser, February 20 at 5pm.  

Market Update in Belle Creek

Belle Creek has been hopping this week!  Here's the rundown for the first week of February:

• There are currently 6 actively listed properties in Belle Creek
• In the last week, 3 properties have gone under contract!
• In the last week, there was 1 newly sold property:  10967 Beeler Street sold for $212,500 on February 1.

To see available properties in Belle Creek, or in any Denver metro neighborhood, 24 hours a day, please visit my website.

What's Going on in Your Neighborhood, Belle Creek? Update for February 2010

What a difference a quarter can make.

It is now 3 months since I blogged about the Real Estate Market in Belle Creek.  Since then a lot has happened, not the least of which were Thanksgiving and Christmas.  Couple that with a few snow storms and it would seem to be a dismal time to sell property in Belle Creek.

Maybe.  Belle Creek, as any neighborhood, is situated in its own little Real Estate world.  You've heard the adage "location, location, location." A look at the numbers over the last 12 months reveals what is happening in this particular location:

• 20 Homes have sold in Belle Creek over the last 12 months.
• The average Price per Square Foot of sold homes was $108.59
• This represents a decrease in per Square Foot sold price in 2009 over 2008, as a whole
• Price per Square Foot increased greatly in the 3rd quarter of 2009, then dropped modestly in the 4th quarter of 2009

What this all means for Home Buyers is that it is still a great time to buy in Belle Creek.  Prices are down  in general, but seem to be recovering.  If you are looking for a well built home in a thriving community, now is the perfect time to get into your Belle Creek dream home.

For Sellers, the news is still encouraging.  Months of Inventory in Belle Creek are at 4.8.  This means that based on sales over the last 12 months, it will take about 4.8 months to sell off the existing inventory.  Put simply, the Belle Creek Real Estate Market is fairly balanced, with a slight lean toward being a Seller's Market.  As the economy as a whole stabilizes, we will see our home prices come back up.

This is good news for all of our neighbors.

To see available properties in Belle Creek, or in any Denver metro neighborhood, 24 hours a day, please visit my website.