…2441 Broadway is now $225,000!

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Same great taste, now with fewer calories. If it’s not the coolest loft in Denver, it’s in the top 6, easily. Silver State Lofts #206 in downtown Denver has it all.

Silver State Lofts #206. At the intersection of everything!

  • Hip, downtown loft living in the confluence of Lodo, Ballpark and RiNo!
  • Spacious loft w/master suite, separate powder room, slab kitchen counters, gas range, stainless appliances and super high ceilings!
  • Gleaming hardwoods, walk-in closet, huge kitchen island fit for three placesettings, washer/dryer in unit, double-basin master sink area, bench seating in tub and huge windows to bring in the sunlight.
  • Secure, gated parking, lots of storage, and two rooftop decks for serious BBQs or simply to admire the city skyline.
  • Just blocks from baseball, art galleries, food truck festivals, Denver’s hottest restaurants and nightlife, not to mention Billy’s Gourmet hot dogs just around the corner!
  • Great downtown crash pad or your ultimate first-time home-buying experience!

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

…950 Characters About MCA.

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When I caught word that Stevie Ray Vaughn went down in a helicopter, it was 2 am, I was drunk and in Prague. It was my first “Where were you when” moment. I was 21, unaware of heavier events to come, and I thought life had changed forever. Not the case. SRV was always on stage and I was just another lighter holder. When I go the text yesterday that Adam Yauch died, I went numb. MCA, you see, was the big brother he never knew I had. I butchered Beastie Boys rhymes in high school, college… yesterday… mostly as MCA. Ad Rock’s Moet-fueled energy may have driven their early fame, but MCA’s roughneck lyrics kept it on the rails. And when they paid tribute to all the stewardesses flying around the world, you knew that MCA was in quiet control. Mike D throws a beer in your face – literally or lyrically – you go through MCA. Just like your big brother. He had more rhymes than he had gray hairs, which was a lot, because he had his share. Namaste.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He’s been on board since the Cookiepuss days. Reach him at 720.971.8267, email, Twitter or G+.

…First Fox, now CNN likes Denver.

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All we need is MSNBC to get on board and we’ll have the entire political media spectrum fawning over our fair city. This morning’s CNNMoney article is the latest in a series of articles giving Denver props on its stalwart real estate market. Multiple offers and short periods of time on the market is what Denver’s all about these days, regardless of neighborhood.

Remember a few months ago when Fox Business told everyone to get all Horace Greeley on Denver? There is little Denver is doing to change the minds of the financial gurus at CNNMoney. Writes CNNMoney’s Lisa Gibbs:

“In Denver the improved job market has led not only to falling inventory but also a boost in buying activity and an uptick in prices.”

 

Find out more about the Denver market by checking into my 2011 Real Estate Performance series, covering many of Denver’s core central neighborhoods.

Maybe, you, too, can have your kids high-fiving on your front porch as you hang your Sold sign. :)

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

 

…New Listing at Silver State Lofts! 2441 Broadway #206.

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At the crossroads of Lodo and RiNo (what’s up with all the hyphenization of Denver?), is Silver State Lofts. You want to be near the ball park, downtown, Lower Highlands, River North, food trucks, art galleries, awesome night clubs and experimental watering holes all at the same time? Look no further.

Straight outta MLS:

Hip, downtown loft living in the confluence of Lodo, Ballpark and RiNo! Spacious loft w/master suite, separate powder room, slab kitchen counters, gas range, stainless appliances and super high ceilings! Gleaming hardwoods, walk-in closet, huge kitchen island fit for three placesettings, washer/dryer in unit, double-basin master sink area, bench seating in tub and huge windows to bring in the sunlight. Secure, gated parking, lots of storage, and two rooftop decks for serious BBQs or simply to admire the city skyline. Great downtown crash pad or your ultimate first-time homebuying experience! Be in the middle of Denver’s most exciting neighborhood!

 

Word’s out on this place. Come downtown and stay downtown! Call for a showing. On MLS today.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

…Is De-Condoizing a word, yet?

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Recently  I wrote this about the condo market in Denver:

There has been a lot of news – mostly bad – in regards to the Denver condo market. Even though it comprises a significant segment of the Denver homeownership population, condos have been taking a beating, both literally and figuratively, from banks, the FHA, careless tenants and appraisers.

For the most part, that’s still true. For instance, I have two condo listings in hip parts of town that are going to be tough to sell to a buyer who needs FHA-type financing, i.e., low down payment. The first is at Baker Commons on Broadway, 277 Broadway, to be exact. It was under contract in a day last year, but the buyer couldn’t secure financing in any way, shape or form, because she used lenders that didn’t understand condo reviews or the new FHA guidelines. It’s a great top-floor, west-facing condo for only $200,000 in the hippest part of Denver.

The second unit is at the Silver State Lofts building, at 2441 Broadway. This is going on the market next week (pictures and video to come). The problem is that this unit, which is going on the market for $235,000 (includes parking and storage) is going to face significant scrutiny from any lender trying to give money to a buyer with less-than-stellar credit and less-than-stellar cashflow.

It’s easy to blame HOAs and management companies for not enforcing – actually writing! -  rules that prohibit changing more than 40% of a building into rental/investment property, and for sleeping at the wheel in terms of keeping their FHA status when they do meet the criteria. The reality is that rarely do condo buyers think ahead about their exit strategy if they do need to sell.

You can sell your condo in Denver, but in most cases, it’ll be to the cream of the borrowing crop or cash buyers. And, in these cases, these guys are looking to rent their new investment anyway.

Maybe it’s the start of a new trend of “de-condoizing” buildings back into multi-family apartment buildings.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

…Denver Home Prices Up From 2011.

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So the home prices in metro Denver are up from 2011, days on market are plummeting but housing inventory is still at record lows. It’s probably time to tell homeowners that it’s safe to put a sign in the yard.

Denver Post reports the S&P/Case-Shiller findings that January home sales in Denver actually dipped from December 2011, but were up year-over-year. Regardless of what you think of the Case-Shiller – mostly that its data actually lags anywhere from 1-6 months, depending on what expert you talk to – the facts are that Denver is experiencing some tangible growth and remains one of the most desirable places to live in the United States.

(Note: Detroit and Phoenix were the only other two cities to experience an uptick in their real estate markets. The only difference is that those two markets only had one way to go.)

Denver remains great and appears to only be getting better.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

 

Case Study… 755 Jackson Sells In Zero Days.

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755 Jackson sold for $375,000 (out of $375,000) before ever going on the MLS. The seller got full price without having hundreds of buyers march through her home, interrupting her day-to-day life. Nor did she have to look at a For Sale sign… just a Sold sign.

755 Jackson in Congress Park sold in zero days. That's less than one day.

This success doesn’t happen every time, but it’s indicative of the number of buyers looking to live in high-demand neighborhoods in Denver. Right now, there are buyers waiting for homes to go on the market in Congress Park, Washington Park and other neighborhoods throughout metro Denver because the current inventory isn’t keeping up with demand!
If you live in a high-demand area, give Karl a call to find out how you can get top dollar for your house.
Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

…Now Is It Time to Sell?

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Here’s what’s been happening in the Denver market since January 1.

  • Overall, 8,379 homes have gone under contract since January 1, 2012.
  • Of those 8,379, more than 60% of these went under contract in less than 90 days! The average days on market for the Denver market has been hovering around 120 days for several years. More than 40% had contracts on them in less than a month!
  • This is more fun: currently there are 1,046 homes in central Denver with contracts in place. More than a third of them went under contract in less than 14 days! 110 of them had offers accepted in two or less days!*

If you’ve been thinking of selling your home for a while but didn’t think you could because buyers aren’t out there looking, consider what you just read. I have been involved in several competing offer situations for my buyers in areas from Highlands Ranch, to DU to Broomfield!

There are high-profile neighborhoods in the city where there is so little inventory available that many houses will sell before they even appear on the market. Recently, I sold 755 Jackson Street in Congress Park for full price before ever putting the house on the MLS.

If you’re interested in selling your house quickly for a price that may be more attractive to you than it may have been in recent years, give me a ring and I’ll tell you what your house is worth today.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

*All information courtesy of Metrolist, Inc.

…Sales Tax on Home Sales?

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You may have been hearing about an extra sales tax that will be placed on home sales starting in 2013. It was jammed inside the health care bill that takes effect in 2013 and will add 3.8% to all home sales starting next year. Is that true? Yes and no. I’ve been getting some calls on this, so I thought I’d address it en masse, as I’m sure it will pick up steam as we move toward the election.

You may have received an email within the last year with the subject line: “If you own a home, Please read this.” Aside from the improper capitalization, the subject line (which you can see below) refers to a huge tax burden on people trying to sell their house. Example from the email below: if you sell a house for $100,000 in 2013, you will get taxed $3,800. That’s not even close to being true.

Yes, there is a new 3.8% Medicare tax that is in place for 2013, but only applies in two instances: First, the sale of primary residences where an individual nets more than $250,000 on the sale. For a couple, it’s $500,000. (Good for you if you clear more than $500k on the sale of your primary residence. If I sell that house for you, I will absolutely contribute toward your extra tax burden. ) The second instance is when you sell an investment property for a profit. In which case, the entire gain is taxed. So, if you net $50,000 on the sale of an investment property in 2013, then you’ll pay an extra $1,900 on top of the capital gains tax. (In both cases, the 3.8% is on top of the normal capital gains tax.)

Here are a couple of links to peruse. The first one is from FactCheck.org that came shortly after the health bill was passed. The second one is from HomeOwnershipUniversity.com that came out a few weeks ago and directly addresses the email below.

To make a short story long, the email below – unauthored, you may note – is untrue. And, in my professional opinion, the National Association of Realtors is well aware that most homes sellers are more interested in a return of their investment vs. a return on their investment.  Check with your tax professional to get up-to-the-dollar details on how this will impact a home sale this year v. next year.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.

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THIS WILL BLOW YOU AWAY !!!!! 

The National Association of REALTORS is all over this and working to get it repealed,  before it takes effect.  But,  I am very pleased we aren’t the only ones who know about this ploy to steal billions from unsuspecting homeowners.  How many REALTORS do you think will vote Democratic in 2012? 

Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it?  That’s $3,800 on a $100,000 home,  etc.  When did this happen?  It’s in the health care bill and goes into effect in 2013. 

Why 2013?   Could it be to come to light AFTER the 2012 elections?  So,  this is “change you can believe in”?  Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax.

If you sell a $400,000 home,  there will be a $15,200 tax.
This bill is set to screw the retiring generation who often downsize their homes.  Does this make your November and 2012 vote more important?

Oh,  you weren’t aware this was in the Obamacare bill?  Guess what,  you aren’t alone.  There are more than a few members of Congress that aren’t aware of it either  < http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home> 

I hope you forward this to every single person in your address book.  VOTERS NEED TO KNOW.

…How To Sell Your Condo in Denver – Update

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March 12, 2012: Recent changes to the FHA borrowing guidelines are going to make it even harder for buyers to qualify for loans. These rules don’t take effect until mid-April, so if you have been thinking of selling or buying a condo, keep reading.

There has been a lot of news – mostly bad – in regards to the Denver condo market. Even though it comprises a significant segment of the Denver homeownership population, condos have been taking a beating, both literally and figuratively, from banks, the FHA, careless tenants and appraisers.

What few people are talking about is that the condo market has some strong pockets in it – especially for well-qualified buyers. There are more than a few buildings in Denver that have strong HOAs, deep reserves and active boards, but may have not elected to get FHA approval in order to allow FHA buyers to own in that building. Or, because of the complicated and often confusing manner in which the FHA reset their expectations for qualification, these buildings either chose not to renew or didn’t know how.

Here’s a site that can help cut through the confusion: Denver Condo Help. A collective of experienced real estate agents in Denver have compiled lenders and condo resources that can help you sell your Denver, regardless if your building has FHA approval or not. Check it out!

The site to help you get your Denver condo sold.

Karl Lueders is a residential Realtor with The Kentwood Company at Cherry Creek. He can be reached at 720.971.8267, email, Twitter or G+.