Kick Off The Summer In Style This Memorial Day Weekend

24May 2013

From free live music events, to art walks, and the memorial day parade, Denver and it’s neighboring Colorado cities know how to kick off the summer season in style! Here are some of our top picks courtesy of Visit Denver.

Honor Military Heroes | Memorial Day Parade and Tribute Ceremony, May 25 Denver commemorates those who lost their lives while serving our country during this stirring event, starting at 11:30 a.m.in Civic Center Park. The Veterans Memorial Day Tribute at the Veterans Monument follows the parade.

Rock Out All Day Long | Denver Day of Rock, May 25
For the fifth year in a row, downtown Denver’s 16th Street pedestrian mall will be transformed into a massive block party with 25 free rock concerts performed on five stages throughout the day for the annual Denver Day of Rock. Visitors can enjoy rock star status at some of Denver’s best hotels with exclusive Denver Day of Rock packages.

Get Inspired |  The Downtown Denver Arts Festival, May 24-26
Mix and mingle with thousands of fellow fine art lovers at the Denver Performing Arts Complex, during the 15th Annual event that features more than 150 of Colorado’s best artists.

Splish Splash | Water World’s opening weekend, May 25-27
Celebrate opening weekend at Denver’s 67-acre water park – one of the biggest water parks in the world, and home to more than 65 wet ‘n’ wild attractions the whole family will enjoy!

Head For The Hills | Denver’s Mountain Parks
Denver maintains 14,000 acres of parks in the nearby foothills of the Rocky Mountains – an immense mountain park system that covers an area almost the size of Manhattan.

Blues & Brews | Beaver Creek’s Blues, Brews, & BBQ Festival May 24-27
Venture out to Beaver Creek for the launch of summertime and sink your teeth into mouthwatering local fare while quenching your thirst at the one of the largest Colorado Microbrew tastings around. *Recommended by Fuller Sotheby’s International Realty Broker Associate Kylie Russell.

FULLER SOTHEBY’S INTERNATIONAL REALTY WISHES YOU AND YOUR FAMILY
A SAFE AND HAPPY MEMORIAL DAY WEEKEND! 

Bottom Of The Market…Was Last Year, According To Steve Blank

23May 2013

Written by Fuller Sotheby’s International Realty Broker, Steve Blank | The Bottom of the Market…WAS LAST YEAR! But the good news is, you have not completely missed the boat. Trulia’s chief economist, Jed Kolko, reported that “buying new homes is cheaper than renting in the 100 largest metro areas.” However that gap is (or will) be tightening. Nationally, rents were 4.5% in 2012, while home prices rose 4.6% (Denver was 11% higher than 2011). Keep in mind, as the economy (inherently the RE market) improves, higher interest rates will become the natural result of a growing economy. The Fed’s work has been considered successful by artificially keeping the rates down to stimulate the economy. The Mortgage Bankers Association has forecasted rates to be at 4.3% (30 year fixed) by the end of 2013 (from 3.4% at the end of 2012).  As an example, on a $300K mortgage (30 yr.) the difference between 3.5% and 4.5% represents a monthly increase of $177/mo. Bank of America is predicting home prices will accelerate 8% nationwide which parallels other economists who are predicting a 5% – 8% increase this year.

New home construction has picked up significantly, however the strong demand has pinched builders in the areas of material supplies, skilled labor, and developed lots.  The National Homebuilders Association is forecasting 672,000 housing starts in 2013, up 23% from last year, which is great, but still not at the 2000-2003 production levels of 1.3 million new homes.  The economics of real estate vary by the state or region.  We are seeing these markets reconnect with their underlying economics as they grow.  Fannie Mae economists expect unemployment will average 7.7% this year and 7.4% in 2014 (Denver is currently at 7.5%).

Colorado real estate numbers for the first quarter, as reported by the Colorado Association of Realtors, was again solid and encouraging.  Compared to Q1 of 2012, new listings were down by 7.2% while the median sales price rose 14.8% (to $225,000) and the average increased by 6.8% to $277,000.  The Days on Market (to sell) fell to 90 days (from 115) which left us with a 4.1 month supply of available homes (absorption rate).  Since 2008, the nation, Colorado, and Denver experienced a “sellers market” meaning we had much more than a 6 month supply of homes available for sale.  A 3-6 month supply represents a healthy or normal market, and 3 or less months of housing supply would depict a “buyers market” (which Denver is experiencing).

The Homebuilders Association (HBA) in Denver reported an increase of 55% for permits being polled, from 1/12 to 1/13 for single family homes, which is the 22nd consecutive month of increase.  Realistically, the Metro Denver area could build 8,500 homes in 2013, which is a little over half of the 15,000 we do in an average year.  Another interesting tidbit is that on average, for every new home built, it provides well over $30,000 from permits and other fees to local communities, and every home built also creates the equivalent of three full time jobs.

The MLS statistics for Metro Denver in April have a number of interesting messages:

-       The # of closed sales (YTD) are 21.4% higher than last year at this time

-       The average days on the market (DOM) were down 38% (from 90-56)

-       The # of active listings was down 32% from last year (lowest since 1985)

-       AND…prices were 12.5% higher

More specific to Downtown properties (condo/loft market):

-       The # of closed sales was 38% higher

-       Average DOM was down 66% (from 221-75 days)

-       Average price was 4% higher

And locally, per the map below, the largest news flash would be that sales in centrally located neighborhoods were up over 50%. It’s funny how we spent the last few years talking with and helping buyers off the fence, and that today’s problem is actually trying to help sellers off the fence. If you would like to talk real estate, please don’t hesitate to call or email Steve Blank or any of Fuller Sotheby’s International Realty broker associates at 303.893.3200.

Modern Design Enthusiasts: Look No Further

21May 2013

One of the West’s largest collections of modern, contemporary, and vintage furniture is housed in a 25,000 sq.ft. converted commercial greenhouse just north of Denver. One-of-a-kind retailer modmood/RETRO Consignment complements their impressive inventory with a full stock of design accessories and services such as design, staging, and estate sale management. Their specialists work with every level of sophistication, from retro mid-century restorations to modern and contemporary luxury homes. Designer Mark Adam Knudson recently showcased his staging skills at 5700 17th Avenue Parkway, a 1938 art deco home on the market for the first time.

Founders Pat Gooch and Jeanne Nichols decided to open a one-stop shop for mid-century design enthusiasts after restoring their own 1955 home in Wheat Ridge, CO. modmood/RETRO Consignment has since become a destination for vintage collectors and lovers of americana in general.

modmood / Retro Consignment
7700 W. 44th Avenue
Wheat Ridge, CO 80033

Main Floor Living Never Looked So Good

17May 2013

Taking a new approach to luxury living Colorado Golf Club’s Betts Lake homes take the guess work out of custom builds. Designed with today’s consumer in mind, the four unique and flexible floor plans come standard with the highest quality designer finishes, a coveted main floor master layout, with custom upgrades available. They are built to be more efficient, more responsible, and afford buyers a “lock and leave” feel.

With a winning combination of architectural style, quality craftsmanship, and your own personal touch, these homes provide a higher quality of life without the hassles. Secluded in the gated Colorado Golf Club community, residents enjoy private access to world-class golf packages, Clubhouse amenities, and resort style living. For more information please contact the real estate sales office at 303.840.0090.

Housing Market Gains Momentum Across The Country

16May 2013

Rising at the fastest rate in seven years, communities across the country are seeing double-digit gains in home prices. Buyers are returning to the market when properties are in short supply, creating a domino effect on the housing market. Home prices jumped 9.3% this February compared to same time last year, the quickest rise since 2006 according to the Standard & Poor’s/Case Shiller index that tracks home prices in 20 major markets. Policy rates kept low by the Federal Reserve have a lot riding on this momentum. However, there are concerns that home prices could more easily rise above their traditional relationship to incomes because the lower mortgage rates will enable buyers to swallow price increases. For more on this debate real the full article in the Wall Street Journal. Colorado micro-market data available here. Contact Fuller Sotheby’s International Realty, your local expert with global reach, to discuss the current marketplace at 303.893.3200.

Jetset Magazine Features Lake Tahoe’s Tranquility Estate As Global Investment

15May 2013

“A New Currency Emerges” written by Daniel J. Jones of Jetset Magazine, takes readers inside the world’s newest form of currency – the luxury housing market. With inventory highly limited and global markets in a constant state of influx, real estate professionals, collectors and global investors seek out unique, ultra-luxury real estate as a new, very valuable piece of currency.

Here in an excerpt, Jones eloquently begins as Tranquility’s height of decadence gleams in the foreground:  “When the cracks began to show in the seemingly unbreakable boom that was the U.S. housing market, smart money – as is often the case – ran for shelter in an effort to insulate itself from the coming doom. That’s the thing about smart money: it stays around, it’s prepared and it tends to grow when times are tough for the broad markets. Just like a diamond created under pressure, it comes out much more valuable if given the proper amount of time. Nowhere else is this paradigm more evident than in the luxury real estate market, where smart money, savvy investment, and the creation of the world’s rarest properties have created a new kind of currency.”

Phillip White, President and Chief Executive Officer of Sotheby’s International Realty Affiliates, LLC.  commented, “Cash buyers continue to invest in luxury real estate as it offers an attractive investment option in a tangible asset.” To read the full Jetset article click here and flip to page forty. For more on the Tranquility Lake Tahoe Estate listed by Sotheby’s International Realty click here.

Sotheby’s International Realty Broker Diane Huttner Proves Interior Design Background Sells

14May 2013

For the past two decades, Diane Huttner has been using her extensive interior design expertise to artfully unite clients with the perfect home. Currently a broker at Fuller Sotheby’s International Realty (FSIR), Huttner brings a phenomenal referral business to the table that has become multi-generational. She attributes this to her personalized trade. “My interior design background helps me to imagine the potential in a property. This results in successfully buying and selling homes that are distinctive to my client’s lifestyle, which always translates into a long-term relationship,” explains Huttner.

A member of the American Society of Interior Designers (ASID), International Society of Interior Designers (ISID) and an avid community activist, Huttner serves on the Cherry Creek Advents Advisory Board, chairs numerous committees, and assumes volunteer roles with countless local charities and organizations. “When you live in a city that offers so much, it is important to give back as much as you can,” says Huttner. Her deep experiential knowledge of Denver’s distinct neighborhoods and lifestyles, coupled with a love of people and interior design, have proven to solidify Huttner’s role in the real estate industry for 17+ years. “Diane distinguishes herself from the crowd by quickly identifying creative solutions and resolving issues to ensure that the sale goes to closing,” said Scott Webber, President Fuller Sotheby’s International Realty. “We are thrilled to have her.” Fuller Sotheby’s International Realty has multiple office locations in the Denver metro area, including Downtown, Cherry Creek, Greenwood Village, Boulder, Evergreen, Castle Pines, and Vail Valley. More information is available at www.fullersothebysrealty.com.

Bests Place to Fly This Summer, Deals to Denver Bolster Local Economy

13May 2013

Airfares to many of the top U.S. destinations have fallen as more head oversees, reports Wall Street Journal (WSJ). Deals to Denver caught headlines in the recent article, showing a record 13.6% drop in ticket prices according to Orbitz.com. Other cities with record-breaking deals on summer travel include Tampa, New York, Chicago, and Washington D.C.

After several years of dramatic airline price increases, this good news comes as a welcomed surprise. High fuel prices have been the culprit of years past, driving airlines to raise fares and fees, but today WSJ says,”Domestic travelers can thank fellow Americans who are dusting off their passports.”

Overall the number of domestic trips are down while sales overseas have seen just as equally great an increase. Airlines have adjusted accordingly. The ideal time to book is now. Summer airfare deals are sure to disappear, as growing confidence in consumer spending rises. For more on this report click here. Photo courtesy – jetsetz.com.

Inspired Living At Colorado Golf Club

10May 2013

Sotheby’s International Realty is in the business of extraordinary living. As in art, antiques, wine and collectibles, the appeal of an extraordinary home is its distinctive character. At Colorado Golf Club (CGC), there is no substitute for the exquisite lifestyle this new development affords.

With custom homesites from $310,000, to Betts Lake homes starting at $895,000, the possibilities are endless. There has never been a better time to build and join the Club, with remarkable Club credits offered to custom builds and referring members. What is truly unique about the CGC is its distinctive atmosphere and dream location. Few properties combine the seclusion of Colorado Golf Club, coupled with the convenience of a major metropolitan area.

AWAKEN to spectacular mountain views that stretch from Pikes Peak to Longs Peak, and peer out to the antelope, deer, and birds who call the native grasses home. EXPLORE the 1,200-plus acres of pristine lands, dotted with eleven miles of hard and soft trails amidst the towering backdrop of the front range, exclusive to members for hiking, biking, or  horseback riding. INDULGE in a world-class round of golf that leads you through open meadows, wooded hillsides, and natural barrancas and streams. Retreat to the Club’s amenities from the fitness center and spa, to formal dining and wine tasting, all with the touch of one-button access.

Avid golfers travel far and wide to discover the Coore and Crenshaw championship course, inspired by the early 20th-century golden age of golf course architecture, yet many find themselves immersed in a two-week vacation that has quickly turned into a year-round lifestyle. Custom luxury living made easy, exclusively marketed by Fuller Sotheby’s International Realty. To schedule a private showing or for more information on Betts Lake or Custom homesites in Colorado Golf Club, please call the sales office at 303.840.0090.


Colorado Golf Club | Home of the 2013 Solheim Cup | 2+ Acre Custom Homesites