Karl Lueders Presents: 1045 Monroe, a Modernist Bungalow in Congress Park

Classic brick bungalow in the heart of Congress Park. Lush landscaping both front and back offers a Zen-like retreat within two blocks of 12th Avenue fun: coffee, ice cream, wine, pizza and, of course, TAG Burger Bar. Inside, enjoy contemporary touches mingling with the original craftsman styling throughout the house. Note the modern updates in the bathroom, fireplace and lighting throughout. Enjoy hardwood floors, a foodies kitchen, extra office space off the back, evaporative cooler, great storage, 220 wiring outside and a huge, welcoming front porch. Opportunities abound!

If you’re ready to sell your Congress Park home quickly and for the best possible price, call Karl to discuss strategy. Better yet, call these sellers to find out how satisfied they are with their results!

 

2012 Denver Real Estate Statistics – Congress Park

In terms of real estate values, I have always thought of Congress Park as central Denver’s bellwether neighborhood. It’s far from Washington Park‘s irrational exuberance (I shall prove this about Wash Park shortly) and Cherry Creek‘s roller coaster resale; it’s a smaller swath of land than Park Hill so it’s easier to define, and with the emergence of 12th Avenue as a destination for people outside the boundary (for purposes of this argument, 8th Avenue to Colfax and Josephine to Colorado Blvd mark the territory; different than last year), Congress Park is starting to lose its best-kept-secret sheen.

Which is great for real estate. Consider these simple statistics: in 2011, 105 homes sold in Congress Park. Last year, 135 homes sold. That’s easy, happy math. Interestingly, the difference came in the form of attached homes, duplexes, if you will. Detached single family homes remained constant from 2011 to 2012: 101 to 104. But duplexes increased 750% from 2011! Only 4 sold in 2011; 31 duplexes sold last year.

We haven’t talked about double-digit

increases for a long time, much less 12.2%.

Part of this increase can be attributed to low interest rates and buyers coming out of their bomb shelters from the last few years. We are also seeing buyers recovering from the foreclosure scars suffered in the mid-2000s, ready to get back in the game. Traditionally, duplexes are about 25% cheaper than their detached counterparts. And while duplexes enjoyed a modest increase in value year over year (from $282k to $295k in 2012), detached homes skyrocketed in comparison.

In 2011, the average Congress Park home sold for $381,313 (the most expensive home award going to 1044 Milwaukee), but in 2012, 936 Fillmore sold for $765,000 – the highest in Congress Park – helping raise the average sale price to $434,069. We haven’t talked about double-digit value increases for a long time, much less 12.2%.

It wouldn’t hurt to mention that it average days on market (known by real estate nerds as DOM), have dropped by about half the time for Congress Park. So, is it a good time to move in or out of Congress Park? How about both?

Karl Lueders is a Denver Metro Association of Realtors Million-Dollar Roundtable honoree, as well as a 5280 Five Star Realtor. He can be found in traditional ways: if Twitter, G+ and LinkedIn are the new traditions. Calling Karl Lueders 720-971-8267 also works. Especially if you’re planning on living in or leaving Congress Park.

Karl Lueders Presents… It’s Official, LoHi is no Longer Hip

Say what you want about Forbes magazine and its subscribers, but I doubt many of  them are leafing through a copy in LoHi coffee shops such as Metropolis or Shangri-La.

Which is to say that Forbes may not be the most accurate barometer of things hip. More accurately, Forbes is the exact opposite of hip. It is the proverbial “man” that hipsters love to loathe (while they’re still poor). And Steve Forbes is the proverbial “man.” He doesn’t hire skinny jean-wearing punks to help shape his editorial platform.

But there it is, in full digital color. Forbes named the 20 Hippest neighborhoods in America, and for what it’s worth, LoHi is 17th. It’s behind the obvious: LA’s Silver Lake, NYC’s Williamsburg, etc., but ahead of Boston, Miami and Houston. To be fair, Forbes‘ digital content is decidedly less corporate than its monthly print version, but Maxim doesn’t really analyze Wall Street, either, so consider the source.

Back in my journalist days, we used to joke that once a daily newspaper “discovered” a trend, it was likely already played out. I think in this case, however, Forbes is merely stating the obvious: LoHi arrived a long time ago and congratulations if you saw it coming.

Karl Lueders is one of Denver’s top residential Realtors. He has been selling homes all over the metro area, but in 2012, 25% of his business has been in LoHi.  Find out more about Denver’s most popular neighborhood (see what I did there?), search for homes, or get info on where Denver’s truly hip spot is by calling Lueders 720.971.8267, emailing Lueders, karl@denverrealestate.com or by blowing him up @KarlLueders or on LinkedIn.

Karl Lueders Presents.. Tejon Square – Another Sold in LoHi!

It’s all connected. A house I sell in Highlands Ranch this past April leads to a sale on this rare Tejon Square townhome in LoHi, just a couple of months later…  Karl Lueders

Tejon Square

Karl Lueders Sells Another Home in LoHi... Tejon Square

Sitting at the closing table for my Highlands Ranch buyer, I was killing time with the buyer’s lender, lamenting (bitching and moaning, actually) how low Denver real estate’s inventory was, and how few condos and townhomes were available for sale downtown and in the Highlands. I would call other top Denver agents, but I was coming up empty for this buyer. Coincidentally, the lender happened to know quite a few people at Tejon Square and suggested I contact a couple of owners who had been considering selling their places.

It didn’t happen overnight, but a couple of letters and a few phone calls later, my buyer bought a hot property in Denver’s best neighborhood without waiting for the property to come on the market.

Karl Lueders is an experienced residential real estate agent who goes the extra mile for his clients. Find out more about Karl or listen to his past clients and find out why the best service comes from the best Denver real estate agents. Call Karl at 720-971-8267 or dial Karl up on LinkedIn.

 

Big Changes to Denver’s Landmark Designation Process?

(Ed. note: Karl Lueders lived in Driving Park Historic District for more than 10 years and served on that neighborhood board as well as acted as a liaison to the Landmark Preservation Commission during that time.)

On September 18, 2012, the Denver Landmark Preservation Commission (LPC) will hold a public hearing to address the Community Planning and Development‘s proposal to change the process in which LPC reviews landmark designation applications.

Some of these proposed changes are administrative in nature, such as raising the fee for non-owner applicants to potentially designate certain historic structures (plus raise the buy-in). A more notable proposal, however, will require each application be sponsored by three people who either own or live in the City or County of Denver. This revision is likely in response to the current liberty that allows any Denver resident or property owner to submit a landmark designation application on any property in the city. There have been recent well-publicized accounts of this occurring, where the applications have allegedly been filed by non-owners to slow or stop potential development of certain Denver properties that did not have landmark designation protection.

There are several other proposals within the Community Planning and Development’s draft. If you live in one of Denver’s 50 historic neighborhoods, you should read the above proposal and consider attending the meeting on September 18, 2012, at 1 pm in Room 4.F.G in the Webb Building, 201 W. Colfax.

Owning a home in one of Denver’s landmark neighborhoods carries an additional responsibility from those that don’t, and as a homeowner or resident, you need to be aware of the policies that govern those areas.

Karl Lueders is a residential Realtor with Kentwood Real Estate. He has intimate working knowledge of the LPC and what it takes to make home improvements within those neighborhoods. Please give Karl a call if you have questions about whether you live in a historic area, are considering buying in a historic area or plan to make improvements to your home. You can reach him at 720-971-8267. You can also follow him on Twitter or find him on LinkedIn.

Read about the benefits of landmark designations by visiting Historic Denver.

Stop the Presses… Condo Sold in Denver… With Conventional Financing… Less than 20 Percent Down!

Karl Lueders, along with the help of BBVA Compass in Park Hill, Denver, sold a unit at 2441 Broadway last week. This sharp 1BD condo in the Silver State Laundry building, just north of LoDo (make sure to capitalize that D), faced other competition in the same building, but had better staging, better “curb” appeal (in a condo, it’s what you see when you walk into the main living area for the first time) and a realistic seller. Demand is high across the board for Denver real estate, but buyers are savvy and won’t be willing to overpay for much (save east Washington Park).

Karl Lueders Presents Another Condo Sold

Karl Lueders Presents 2441 Broadway #206 - Another Condo Sold... Quickly.

What also helped Lueders and his sellers was the ability of BBVA Compass to create a loan product that give buyers the opportunity to become primary residents in condos, giving these great buildings a chance to reclaim a greater percentage of owner-occupancy and the ability to be recognized by FHA as a viable condo building.

Undoubtedly, Denver’s real estate surge has been fueled by recent news items, as well as the low inventory, but as we just told one client looking to relocate from Idaho: Denver has three things totally buzzing right now: city life, outdoor life and the economy.

Don’t hesitate to contact Karl Lueders or his friends over at Denver Condo Help to find out how you can not only list your condo, but sell it to a qualified buyer who can actually close!

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+.

Karl Lueders Presents: 2525 15th Street #3A… LoHi Loft Living


 

Dial into Denver’s hottest neighborhood from this amazing LoHi loft! 2 bedrooms (w/master suite on the main level), 2 bathrooms, washer/dryer in unit, open kitchen and ceilings the way a city loft should be! The only deck in LoHi with better views of the city and mountains is at Linger, but yours is private with plenty of room to entertain just as well! No more parking next to your neighbors; this unit comes with a private 2-car garage and entry into the building. Extra large storage unit, central AC, end unit, island kitchen, tons of closet space, in-unit storage and built-in cabinets. Check out the crowd at Forest Room 5 from your living room windows, get a sandwich from Jays or Masterpiece or go to Cellar for amazing wine and antipasti. And those are only the hot spots on your block. Go a little further and youre at Lola, Vita, Shangri-la, Little Man, the list goes on. The Overlook is also FHA approved so we welcome low down-payment buyers! Get here quick!

Karl Lueders Presents… Another Home Sold in the Highlands!

If it has the word Highland in it, I’m selling it. Yesterday it was Highlands Ranch, today it’s three blocks from Highland Square. This two-bedroom bungalow (also won in a bidding war) spent very little time on the market but is withing striking distance of 32nd and Lowell, 32nd and Zuni, Mile High and LoHi!

Another Home Sold in the Highlands

Karl Lueders Presents 3111 W 28th... Just Sold!

The buyers have already installed a bathroom in the basement, central AC, underground sprinklers and expanded the master bedroom! And that’s how you build equity in a house.

The rule of thumb these days is that if you’re interested in buying a house, so is someone else. So, it pays to work with a Realtor that has extensive relationships with other brokers around town so they know when houses are coming on the market… before your competition does. I guess I wouldn’t have written that last sentence if I didn’t think I was that guy.

 

 

Karl Lueders Presents… Another Home Sold in Highlands Ranch!

I’ve been a little busy lately, so patting myself on the back usually takes a back seat to working with home buyers and sellers in the Denver area. But, I have a few satisfied clients to talk about. One client just bought her second home with me, this one located at 10629 Wildhurst in Highlands Ranch, Colorado.

Karl Lueders Presents 10629 Wildhurst. Just Sold!

This is an amazing, well-kept 4-bedroom two-story home, with views of the mountains from the bedroom. Built in 2003, the seller of this home kept the house and the landscaping in show condition, much to the delight of my buyer!

All for less than $300,000. Not surprisingly, my buyer had to compete with other buyers for this house, as is the case with metro Denver real estate this year. However, prices are holding steady and there is even increasing real estate values in neighborhoods you wouldn’t believe.

This is a great home for an amazing client!

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+.

Karl Lueders Presents… Why Buying Your Home Isn’t a Business Decision

“Relax pal. First lesson in business is don’t get emotional about stocks – it clouds your judgement.”

- G. Gekko

 

“If you’re buying a house to make money, then don’t buy a house.”

- Karl Lueders

The era of irrational real estate exuberance officially ended somewhere around early 2009, just a few months after the big “crash.” It happened when a random couple found the house in which they wanted to make babies, plant flowers and host handfuls of Thanksgivings. They turned to one another, squealing in delight, but then squared up their Realtor and asked, “How much do you think we can make on this one?”

I still get that question on an infrequent basis. I feign deafness to see if they’re sincere enough to ask again. If forced upon to answer, I usually go with the above quote. (No, I’m not Gordon Gekko.) It sucks, because we want everyone to own a good home that will make money, but I think we also forget that the public doesn’t always know the score with real estate. Many are still looking to buy their principal residence with an expectation of profit, rather than buying it with their heart. Which is how it should be.

I have a good perspective on the past and why people still want to believe that real estate is a sure thing. I made 16% on my first house in less than 18 months. Of course, that was back in Chicago in 1998, but people tend to remember the % and not the year. I wasn’t in the business back then and had no clue what we were getting into. We just wanted to stop paying rent. We loved our condo but we loved it even more when we sold it and moved to Denver with some tall stacks. Those stacks disappeared pretty quickly when we started looking at homes in Denver and realized we were making a lateral move from Chicago. Go figure.

Nevertheless, we looked smart because we got lucky. But I was that friend/neighbor that did get lucky and everybody wanted in on the trade-up. Yet once people started trying to act smart, we ended up with a fiasco like sub-prime loans, default credit swaps and NINJA loans. Then the s**t hit the fan across the country. Lots of places are beginning to recover, but the skid marks still appear prominently on many map searches of Nevada and Florida.

Some buyers still want an assurance that they’ll be able to sell their house for more than what they paid for it. Just so you know, you can get better predictability by putting your down payment on red (or black; just stay away from wheels with two green zeros) than which way the real estate market is headed. Real estate is not a financial investment; it’s a lifestyle investment. Homes are supposed to pull at your heartstrings, not appear as a ledger statement. (That is, unless, you happen to be buying an investment property, you’ve done research, and know the cash-flow thresholds. Another day for that.)

Sure, you need to be able to afford what the heart wants, and the heart might not know why you need a radon test, but that’s why you have good Realtors and lenders with realistic lending guidelines. And yes, it’s a huge financial decision. But don’t confuse financial decision with a financial opportunity. If you buy a home with the hopes of making money, you are allowed to blame yourself if/when that doesn’t happen. The days of time equity are gone.

But if you buy a home to raise kids, tend a garden and paint the walls bright orange because you can, then yes, that’s exactly why you buy a house. You buy a condo because you’re ready for the tax advantages of home ownership but don’t want to mow a lawn. That’s how you do.

And don’t forget, people like me are here to help you find your dream home for the best possible price. Good lenders are here to get you the best terms to make that dream affordable. If you want emotional detachment, buy a stock.

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+.