Aspen Snowmass Sotheby’s International Realty will serve the entire Roaring Fork Valley from Aspen/Snowmass to Glenwood Springs. Mark Overstreet serves as president of the new company and will report to a management board of Ernie Fyrwald, Andrew Light, Craig Morris and Garrett Reuss. “Morris & Fyrwald Sotheby’s International Realty has a reputation as a strong leader in the Aspen market while Chaffin Light Real Estate and its predecessor, Snowmass Real Estate Company, have been market leaders in Snowmass Village and the Mid-Valley,” said Philip White, president and chief operating officer, Sotheby’s International Realty Affiliates LLC. “The combined strength of these two companies and the Sotheby’s International Realty brand will provide clients with extraordinary opportunities in one of the world’s most high-end markets.”

The firm will operate eight offices and have a team of more than 110 sales associates. “Our goal is to put our sales associates in a position to best serve their clients,” said Overstreet. “We are the only company in the Roaring Fork Valley with offices in all of the key markets. Our combined local market presence, along with the international reach of the Sotheby’s International Realty brand and its world-class technology, will offer an unmatched platform for our team and our clients. Our mission is to serve our clients in the finest manner and contribute back to our communities in meaningful ways.” The Sotheby’s International Realty network currently has nearly 12,000 sales associates located in approximately 580 offices in 42 countries and territories worldwide. Aspen Snowmass Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.

Darwin McCutcheon
Broker Associate
Fuller Sotheby’s International Realty
26 Avondale Lane, Suite 119, Beaver Creek, CO 81620
Office: 970.845.0400
Direct: 970.748.5102
Home: 970.949.5592
Mobile: 970.390.0422
Email: Darwin.McCutcheon@sothebysrealty.com
VIEW DARWIN’S LISTINGS

In 1989, Darwin McCutcheon retired from a career as a professional hockey player with the Toronto Maple Leaf and Calgary Flame organizations and relocated to Beaver Creek in 1991. Here he has established himself as a successful realtor and businessman. Darwin considers his biggest accomplishment raising his son Max on his own since the passing of his former wife Holly.

Since coming here in 1991, Darwin has developed expert knowledge of the Beaver Creek real estate market. Over the past couple years, Darwin has won the coveted Forbes Award for his hard work and dedication as well as being the Top Producing Broker with Fuller Sotheby’s International Realty in 2007.

Around Beaver Creek, Darwin is known as a dedicated father and businessman. This, along with a firm commitment to customer service, family values and hard work, makes him one of the most successful realtors in the valley. Give him a call, he delivers results.

Fuller Sotheby’s International Realty recently held an awards luncheon for our top brokers at the outstanding Chinook Tavern. We were so impressed with the eatery  in Greenwood Village that we’ve made it this issue’s featured Denver Metro restaurant.

We suggest trying Chinook during Denver Restaurant Week®, which actually spans two weeks – February 25 through March 9. Throughout Denver Restaurant Week®, Chinook is offering two meals for just $52.80. Choose from the many delightful dishes that Chef Markus Georg has created for Chinook Tavern’s extensive European-inspired lunch, dinner and brunch menus.

Or if you’re in the mood for out-of-the-box dining with an interactive flare, the Zermatt Room within Chinook is a space entirely dedicated to serving the Swiss traditions of Fondue and Raclette.

Chinook’s voluminous dining area can easily accommodate large groups but still offers an intimate setting for couples or small celebrations. Its contemporary European ambiance is highlighted by warm hardwoods and understated touches like sleek pendant lighting, wood-wrapped columns and a grand central bar that glows – literally.

From its inviting atmosphere to its friendly and knowledgeable wait staff that knows the wine list as well as Chinook’s extensive menu offerings, Chinook Tavern is one not to be missed on the Denver dining scene.

If you can’t make it to Chinook Tavern during Denver Restaurant Week®, here’s an offer that begins after Restaurant Week: $10 off every $50 spent at Chinook Tavern. Indulge…you won’t be sorry! For more information, visit www.ChinookDenver.com.

Print out this coupon and present it to your server between 3/12/12 and 4/15/12. View the coupon below for more details.

Click-Here-For-Coupon

Option 1: 3260 Tennyson Street, Denver, $560,000
Looking for a place where Old World charm intersects with hip modernity and incredible convenience? This renovated pop-top in Denver’s popular Highlands neighborhood blends subtle details that merge 1920s character with 21^st century living. The original single-story home was built in 1924 and boasts stained glass accents and its original hardwood floors. But today the 2,582-square-foot home includes four bedrooms and 3 ½ baths among its three finished levels. This includes an added second story comprising unique ceiling vaults, a large study, spacious front and rear decks, and a true master suite with his-and-her walk-in closets and a 5-piece bath generously finished in rich granite and marble.

The kitchen glows in all new appliances, cabinets and tile as it leads to a dining room and covered patio beyond. A lush professionally landscaped yard complete with a Koi and turtle pond envelopes the back of the home and a detached garage adds to the property’s functionality.

Such endearing features are further elevated by the home’s prime location in a historic community now highly sought for its flourishing and eclectic mix of boutiques, coffee shops, book stores, art galleries, trendy bars, live music venues and fine eateries representing an array of culinary styles and regional cuisines. Highlands, a 250-acre section in northwest Denver, offers easy access to downtown Denver and has received numerous accolades as the “it” place to visit – and live – in the Denver metro area.

Option 2: 8523 Thunderhead Drive, Boulder, $599,000
This eco-friendly retreat in the Boulder foothills is made for those who want to be “worlds away but minutes from everything.” Tucked into the mountainside looking out over the city of Boulder, this incredible 3,416-square-foot home is sited on a ¾-acre oasis of gently sloping mountain terrain. Remodeled with completely non-toxic materials and finished in warm earth tones and textures, it exudes an appreciation of nature from the inside out. From room to spacious room, large windows invite natural sunlight to spill in while framing picturesque views of the entire Boulder Valley below.

The gourmet kitchen features slab granite counters, high-end appliances and easy access to the expansive exterior deck for flawless indoor-outdoor entertaining. In addition to the home’s three bedrooms, a gorgeous studio space finished in Brazilian cherry flooring sits above the garage – perfect for a home office or a mountain getaway for guests.

Though private and peaceful, the home is a short 5-minute drive from the vibrant city of Boulder. Home to the University of Colorado, Boulder is a thriving college town and so much more. Its famous Pearl Street Mall offers blocks of fantastic shopping and dining while North Boulder or “NoBo” is quickly gaining a similar reputation. Boulder’s location at the base of the foothills and Flatiron mountain range make it a mecca for hiking, biking, climbing and other activities that put Colorado on the map among outdoor enthusiasts.

Option 3: Beaver Creek Lodge # 419, Beaver Creek, $575,000
In the heart of Colorado’s ski country adjacent to Vail is Beaver Creek Resort. And in the center of the resort’s Beaver Creek Village are The Suites at Beaver Creek Lodge – a luxurious collection of slopeside whole-ownership units with ski-in ski-out access to the world-class runs of Beaver Creek. Unit #419, a one-bedroom, one-bath retreat at Beaver Creek Lodge, boasts rustic opulence and pure comfort throughout its 492 square feet. This unit offers an opportunity for whole ownership in a premier Rocky Mountain ski location.

Amenities abound at Beaver Creek Lodge: concierge service, room service, gated security, resort shuttle, ski storage, pool, hot tub and privileges at nearby Spa Struck. And the skiing and snowboarding is no less spectacular. More than 1,800 skiable acres, 25 lifts including 10 high-speed quads, 149 trails and an average 300 days of sunshine per year make Beaver Creek one of the most desirable ski destinations in Colorado and the Western U.S.

Those who are so blessed to call Colorado home have some of the world’s most lauded vacation destinations in their own back yard – or at least just a short road trip away. From the celebrity-favorite ski villages of Vail and Aspen to lesser-known retreats in secluded pockets of the state, Colorado offers residents and visitors some incredible escapes for recreation, relaxation and Rocky Mountain rejuvenation.

In this issue we travel to Pagosa Springs, a Southwest Colorado paradise tucked against the San Juan mountain range and enveloped by more than 3 million acres of national forest and wilderness areas. Sited just 35 miles north of the Colorado-New Mexico border, the town of Pagosa Springs is home to just 1,600 or so residents, but the area’s many offerings draw visitors from all corners of Colorado and beyond.  While tourism is Pagosa’s No. 1 industry, the town has retained a sense of unspoiled character that lends credibility to its tourism tagline: “Refreshingly authentic.” Pagosa and its diverse menu of activities make it an ideal place for a family-friendly getaway, a romantic couple’s escape or place to reconnect with friends and the great outdoors.

The name “Pagosa Springs” is derived from the Southwestern Ute word “pagosah,” which means healing waters – and rightfully so as Pagosa Springs is home to a collection of incredible natural hot springs pools. Indulge and unwind in the naturally therapeutic mineral waters at any one of the three major hot springs facilities in downtown Pagosa:  The Springs Resort and Spa, Overlook Hot Springs Spa or Healing Waters Resort and Spa. Each hot springs offers massage and/or spa packages in addition to the restorative pools and a picture-perfect backdrop of the area’s mountain peaks and ragged red cliffs.

For those seeking to recreate before they rejuvenate, Pagosa Springs is an adventurer’s delight no matter the season. Winter visitors can navigate the 1,600 skiable acres of nearby Wolf Creek Ski Area (just 23 miles from Pagosa Springs) or explore the 50 kilometers of groomed trails for cross country skiers and snowshoers.Advanced backcountry enthusiasts may revel in a Nordic trek to the Pass Creek Yurt, a one-of-a-kind lodging experience nestled deep in the Wolf Creek wilderness. Other popular winter attractions in Pagosa include snowmobiling, ice fishing, sledding and sleigh rides.

Spring and summer brings a brilliant thaw to Pagosa’s Archuleta County and with it some of Colorado’s most scenic landscape is opened for visitors to explore by foot, bike, horse or ATV. Enjoy a mid-summer float trip down the San Juan River that runs through the center of downtown Pagosa, or browse the many art galleries and shops that line its main stree ts. Test your skills on the challenging 27-hole course of Pagosa Golf Club or take a historic walking tour of the deeply rooted town, which was incorporated 121 years ago.

And whatever the activity – spring, summer, fall or winter – don’t forget to experience the town’s first claim to fame: those soul-soothing hot-spring waters that put the “ahhhhh” in “Pagosahhh.”

Getting to Pagosa Springs:

By car – From Denver, take U.S. Hwy 285 S through Fairplay to CO-112 W to U.S. Hwy 160 W to Pagosa Springs (5 ½ hours; 277 miles)

By air – Private planes can land at the local airport, Stevens Field. Commercial flights come from Denver to Durango, which is 60 miles west of Pagosa Springs.

For more information: www.visitpagosasprings.com

For more Colorado Real Estate News visit www.coloradorealestatediary.com

The tour is free and open to the public, and no reservations are required. We are also planning a series of home tours to last throughout the year.

The tour will feature 12 of the best homes in every price point.

170 Lafayette Street, Denver CO

$1,650,000   5 bedrooms / 5 baths   MLS#: 1062968    Maggie Armstrong & Trish Bragg

Beautifully appointed Country Club home. Meticulously renovated for modern living with historic design kept intact. Fabulous eat-in kitchen & main floor family room. Spacious living room with main floor office & sunroom. French doors lead to private brick walled garden. Amazing basement is exceptionally finished. Radiant heat, high velocity air conditioning and surround sound throughout. Come see!

Approximately 4578 sq. foot

446 Jackson Street , Denver CO

$759,000    3 bedrooms / 4 baths    MLS#: 1021837    Susan C. Mathews

Nearly new townhome in Cherry Creek North. Living space is highlighted by bamboo flrs thruout the main level, chef’s kitchen that is both sophisticated & functional, 3 sided fireplace to accent the kitchen/great room, & lg private patio w/ a fireplace.

Approximately 2972 sq. foot

755 Gaylord Street , Denver CO

$1,595,000     4 bedrooms / 4 baths     MLS#: 1058829     Maggie Armstrong & Trish Bragg

Beautiful, classic Georgian on fabulous block. Chef’s kitchen with sunny family room that opens to perfectly manicured yard and perennial gardens. Lovely master suite. Wine cellar. Fully renovated. Bromwell School. A must see!

Approximately 5653 sq. foot

1136 Cherokee Street, Denver CO

$1,590,000 3 bedrooms / 6 baths MLS#: 1055768    Susan C. Mathews  & Sherri Wheeler

Completely finished, ready to move in. Sophisticated 6 level urban design. Ultimate in chic design from finished garden level bsmt to 6th flr roof garden. Bonus*1 bdrm apt over garage (482sf inc in total sf) close to everything, shops & art!

Approximately 6295 sq. foot

1201 Williams Street # 2C, Denver CO

$375,000 2 bedrooms / 2 baths MLS#: 1056011 Ann Ludwig

**S-T-U-N-N-I-N-G** Gorgeous renovation, modernized floor plan, spacious rooms! Everything is brand new! Serene kitchen, luxurious master, large laundry/utility room! Lovely view into the park from a wall of glass – looks like a painting! Huge balcony! Only building in Cheesman with 24-hour security! On-site manager as well! Ample guest parking, fitness room, penthouse level club room perfect for parties! Very well-run, intimate building with fewer units than you might expect. Pet friendly!

Approximately 1440 sq. foot

1449 Wynkoop ST # 604, Denver CO

$750,000    2 bedrooms / 2 baths     MLS#: 1064229     Whitney Cain

Award winning historic bldg, fabulously remodeled in 2001 w/top of the line finishes. Exquisite penthouse loft with rare ‘air rights’ (900 SqFt of Building Space + 450 SqFt of add’l deck space). True loft with historic details including exposed brick walls, high cement ceilings and exposed duct work. Enjoy beautiful mtn views from west facing balcony. Premier LoDo location, blocks from Union Station, Light rail, Cherry Creek Trail, River Front Park, Coors Field, Pepsi Center and much more.

Approximately 1625 sq. foot

1539 S Lincoln Street , Denver CO

$424,000     3 bedrooms / 3 baths     MLS#: 1060389     The Wolfe Group

This platte park two story duplex boasts two suites up and a finished basement. The open kitchen greets the family room which leads to a private patio. The fenced front yard adds privacy for entertainment and family. The basement is finished and has tall ceilings.

Approximately 3196 sq. foot

8094 E Harvard Circle , Denver CO

$295,000     3 bedrooms / 3 baths      MLS#: 1065682     Pam Fales

Charming, sun-filled 1998 Cape Cod in interior location in Highline Glen. Denver Location, Cherry Creek Schools. Bright, open floor plan with new and newly finished hardwood floors, custom cabinets, security system, partial finished basement and fenced back yard with gated access to greenbelt.

Approximately 2340 sq. foot

185 S. Poplar Street, Denver CO

2333 S Saint Paul Street, Denver CO

$ 875,000      5 bedrooms / 4 baths      MLS#: 1063245      Elaine Swomley

New on Market! One block to OPark! Wonderful proportion of house to land, covered patio & great big yard. Open plan coupled with traditional spaces. Bright interior with many windows & light finishes. Study/bd on main with full bath. Large master ste & upstairs loft with balcony. Beautiful basement with built-ins & bar, bd & bath; finished with quality of main floor living.

Approximately 4842 sq. foot

106 S UNIVERSITY BLVD , Denver

$ 998,500     3 bedrooms / 4 baths     MLS#: 1064018      Susie Dews

Absolutely lovely single family home nestled behind the tranquil fountain of Country Club Lane! Best lot with expanded patio backing to the lush grounds providing wide open backyard. Award winning study. The entire home is loaded with upgraded moulding, cabinets & hardwood floors. Gated community!

Approximately 5147 sq. foot

1533 7th Ave, Denver CO

5 Bedrooms / 6 Baths    Debra Fagan & Wendy Handler

Approximately 6540 sq. foot

Looking for even more great open houses in the Denver area? Check our website for the full list.

As the internet has dramatically changed the way global real estate is marketed and sold, Sotheby’s International Realty (SIR) and its website, www.sothebysrealty.com, have blazed technological trails to ensure the properties SIR represents enjoy unrivaled exposure and a world-class presence online. Additionally, SIR sought to create a website that is easy for potential buyers to navigate and narrow their property search by refined criteria – far beyond the basics of location, price and square footage.

Discriminating buyers have certain lifestyle preferences as much or more than they desire specific property features. With this in mind, SIR has unveiled select microsites within the framework of www.sothebysrealty.com. Each microsite represents properties belonging to one of SIR’s most sough-after lifestyle segments.

The latest microsite is The Sotheby’s International Realty® Farm & Ranch segment. From trophy ranches to equestrian farms, fishing lodges to haciendas, the properties featured on the SIR Farm & Ranch segment showcase a diverse offering of the world’s finest iconic rural and recreational retreats. Such properties make up a growing market segment for SIR and, therefore, SIR developed a resource that would enhance the experience for both buyers and sellers of these glorious and exclusive properties.

For buyers, the global search for an exclusive ranch, farm or similar offering has never been more streamlined. The SIR Farm & Ranch site only includes those properties that meet the specific farm and ranch lifestyle criteria. Buyers don’t have to sift through high-rise penthouses or residences in lot-and-block neighborhoods to get to the farm, ranch or acreage properties they are seeking. Furthermore, once on the SIR Farm & Ranch site, buyers can further filter their criteria by dozens of categories to make the search as broad or as narrow as one desires.

For sellers, the new Farm & Ranch site awards greater exposure to a global audience. While each property is still featured on the parent site, www.sothebysrealty.com, it also is included on the microsite where it is showcased among other Sotheby’s International Realty listings that meet the Farm & Ranch lifestyle criteria. The result is greater visibility among an audience that is interested in this very specific type of property and the lifestyle that accompanies it.

The launch of the Farm & Ranch microsite is just one example of SIR’s commitment to providing elite service and unparalleled tools for buyers and sellers of the world’s most distinctive properties. Learn more about the Sotheby’s International Realty experience at www.SothebysRealty.com.

What are real estate professionals saying to homebuyers and sellers about current market conditions? The successful brokers and sales associates are talking about the strengths that exist in the market. Below are positive angles that appeared recently in the media and underscore why it is a good time to buy real estate.

Home Sales Pace Increases in December

Home sales in December reached the highest pace in nearly a year. The gain coincided with other signs that the troubled U.S. housing market improved at the end of 2011. Sales of previously occupied homes rose 5% to a seasonally adjusted annual rate of 4.61 million in December, the National Association of Realtors said. It’s the best level since January 2011.

Sales rose on a seasonal basis more than 10% in the Northeast, 8.3% in the Midwest, 2.9% in the South and 2.6% in the West.

The third straight monthly sales increase was encouraging. And economists noted that conditions are in place for further gains this year: Prices have declined. Mortgage rates have never been lower. Homebuilders are slightly more hopeful because more people are saying they might be open to buying this year. And home construction picked up in the final quarter last year.

 “There’s no denying that home sales are still very low,” said Paul Dales, an economist with Capital Economics. “But after having risen in each of the last three months … it is clear that a housing recovery is now well under way.”

 “With layoffs slowing sharply, hiring rising and consumers’ confidence rebounding, the pre-conditions for a sustained recovery are falling into place,” said Ian Shepherdson, chief U.S. economist for High Frequency Economics.

 – “Home Sales Pace Increases in December,” by Derek Kravitz, USA Today, Jan. 20, 2012. 

Signs of Possible Housing Market Improvement in 2012

Mortgage rates will remain very low [in 2012], Freddie Mac predicts, at least in the beginning of 2012, and for all of 2012, it expects home sales to grow between 2% and 5% from 2011 sales.

 “With the new year comes a sense of cautious optimism,” said Freddie Mac chief economist Frank Nothaft. “There are some positive signs in the job market and consumer confidence [and] housing is starting to raise hopes for continued gradual economic recovery.”

 – “Home Sales Up as Much as 5% in 2012,” by Jeff Clabaugh, Washington Business Journal, Jan. 18, 2012.

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. Market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability. Banks are now lending amounts up to 3.5 times borrower earnings. This is up from a low during the crisis of 3.2 times borrower earnings.  Banks are also loosening loan-to-value ratios (LTV), which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

 – “Housing Crisis to End in 2012 as Banks Loosen Credit Standards,” by Krista Franks, DSNews.com, 

Jan. 24, 2012.

According to the CoreLogic MarketPulse report, which provides insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics, there is anticipation for improvement in both the broad economy and the housing market in 2012. “While 2011 was clearly a challenging year, there is a lot to be positive about looking ahead to 2012,” said Mark Fleming, CoreLogic Chief Economist.

 – “CoreLogic Releases New MarketPulse Report,” PR Newswire, Jan. 18, 2012.

According to an analysis of home price trends in more than 380 U.S. markets based on the Fiserv Case-Shiller Indexes, housing affordability continues to improve, with the ratio of monthly mortgage payment to median family income the lowest since 1994. Almost half of U.S. metro markets are projected to see modest home price gains by Q3 2012.

 David Stiff, chief economist at Fiserv, pointed to encouraging trends in the U.S. housing market. “We stand by our projection that average U.S. home prices will move sideways in 2012. But we do anticipate that increasing sales activity will begin to drive small increases in prices in as many as half of U.S. metro areas,” Stiff said.

 – “Home Prices Reach New Low, but Stabilization and Recovery Are in Sight,” BusinessWire, Jan. 30, 2012.

Fannie Mae Survey: 71% Say that it’s a Good Time to Buy a House

 A majority of Americans recently surveyed say now is a good time to buy a home. That’s no surprise, given that record-low mortgage interest rates and bargain home prices are boosting affordability. According to 71% of the 1,000 people surveyed by Fannie Mae in December, now is a good time to buy a house. But only 11% think it’s a good time to sell.

 “For people to start buying in larger volume, they need to see home prices go up a bit,” says Ingo Winzer, president of Local Market Monitor, a firm that analyzes housing markets for bankers.

– “Housing Remains a Buyer’s Market,” by Amy Hoak, MarketWatch, Jan. 30, 2012.

Regional Update: News from Markets around the Nation

California

Bargain hunters lifted homes sales in California last month, snapping up foreclosed and other distressed properties as prices continued to fall, a research firm reported. There were 37,734 new and existing homes and condos sold in the state in December, up 4.2% from the same month of 2010, DataQuick said.  Sales in the San Francisco Bay area showed less expensive homes are lifting the market. There were 7,494 new and existing homes and condos sold in December, up 4.4% percent from a year earlier.

– “California Home Sales Rise Last Month, Prices Fall,” CBS MoneyWatch, Jan. 18, 2012.

Florida

At the close of 2011, Florida’s existing home and condominium markets reported higher sales compared to the previous year, according to the latest housing data released by Florida Realtors. It was the third consecutive year for statewide home and condo sales activity to end the year on a positive upswing – higher year-over-year sales also were reported at the close of 2010 and 2009, records show.

Looking back on 2011, Florida’s existing home sales rose 8% for the year, and existing condo sales gained 15% compared to 2010. Sixteen of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales and existing condos sales at the close of 2011 compared to 2010.

– “Florida’s Housing Sales Activity Higher as 2011 Ends,” PR Newswire, Jan. 20, 2012.

Lake Tahoe (February 2012) – Sierra Sotheby’s International Realty’s (SSIR) office is pleased to announce that broker associate Tamara McKinney was recently inducted into the Reno Tahoe Winter Games Coalition International Sports Hall of Fame.

McKinney joined the SSIR office last October, and grew up skiing in Squaw Valley. She competed for the U.S. for 14 years on the World Cup circuit and in three Olympic Games. She was the first American woman to win the overall World Cup title and had 18 individual World Cup wins as part of her 99 podium finishes, 3 bronze medals & a gold medal in the combined. In 1989 Tamara suffered a tremendous tibial plateau injury. She came back to win the overall “Tournament of Champions” professional tour. After McKinney retired from competitive skiing in 1997, she has worked with the Squaw Valley Ski Team coaching young racers and continues to be an incredible ambassador for the sport and Squaw Valley.

“This is a tremendous honor, and I’m equally proud to be a member of the RTWGC’s board of directors as we work diligently on a bid for the Reno Tahoe area to host the 2022 Winter Olympic Games,” said McKinney. “As a longtime member of the local community, and a new member of Sierra Sotheby International Realty’s Squaw Valley office, it’s my pleasure to work towards this new ‘Olympic goal’ of and look forward to working with the community to welcome the Winter Olympic Games Games to the Reno Tahoe area in ten short years.”

Buyers need to remember the insurance deadline in the contract.

The Colorado Real Estate contract is probably one of the most detailed contracts in the United States. The dates and deadlines are very specific and we actually find this to be very helpful.

One deadline that is not highlighted as much as it maybe should be is line 25, Section 10.5 of the contract – Property Insurance. With the hail damage that has occurred in Colorado over the years, we are seeing roofs that have suffered damage and not been replaced.

“Insurability. Buyer shall have the right to review and object to the availability, terms and conditions of premium for property insurance (Property Insurance). Buyer shall have the Right to Terminate under § 25.1, on or before Property Insurance Objection Deadline (§ 3), based on any unsatisfactory provision of the Property Insurance, in Buyer’s sole subjective discretion.”

A recent scenario -
The buyer had a roof inspection. Two inspectors said that the roof was acceptable. The buyer had waited to get insurance and the insurance deadline had passed. The chosen insurance company along with 15 other insurance companies declined to insure the home due to the roof.

There was some back and forth between buyer and seller questioning if the buyer get out of the contract as the insurance deadline had passed. Loan conditions had also passed. This created quite a stir that could have been avoided had the buyer looked into obtaining insurance prior to the insurance deadline. The buyer hired an attorney and the attorney said that the buyer could get out of the contract on loan conditions even though the date had passed.

After many hours of work by all parties involved, the transaction did close with a new roof on the property prior to closing. Having insurance lined up in advance would have been a “heads-up” to everyone involved in the transaction that there was a problem and while it may not have been easy, it would have made for an easier situation.

Ann Heinz
Senior Loan Officer
(303) 263-4003
License #100027008 NMLS#360599

englewoodmortgage.com