Real Estate & Relocation ^ Colorado

Free WiFi hotspots in Downtown Denver

Thanks to the Downtown Denver Partnership, the 16th Street Mall now is a free Wi-Fi hotspot.

Cool!

Read the entire story Denver Post

What does $238,500 Buy in The Denver metro area?

The Denver Post had an interesting article with photos of homes priced at $238,500.

You can read the whole article here.

A Short List of Relocation Mistakes

Compiled over the years I come to learn from experience the mistakes people make when relocating to a new area.  Here are some of them for you to ponder;

1. Arrive unprepared to purchase - that could mean your home is not currently sold or under contract.  Having contingencies on a present home means potentially losing out on your choose at the new destination.  Don't plan your trip prematurely.
2. Not having a loan in place prior to your arrival.  If you are buying on contingency be sure to have a BRIDGE loan in place or at least have one ready to activate.
3. Not bringing ALL the decision makers.  Having one party come to view homes thinking that this party can make all the decisions for the other is generally a mistake.  I can't tell you how many couples have initially thought they could do it, but when it got right down to the nitty gritty of a binding agreement, they chickened out!  Buying a home is a big decision so all the parties should be present through the entire process.
4. Bringing the kids on a house hunting trip.  Kids are great.  I love kids, I have kids, I have grand kids and I was even a kid once.  Based on years of experience I know kids HATE looking at homes.  After the 3rd house they begin to stress everyone out.  At this important point in time parents don't need more stress.  Make everyone happy, leave the kids at Grammy's!
5. Under estimating the amount of time it takes to look at all the homes you need to see.
6. Over estimating your ability to remember what you saw.
7. Under estimating the amount of time it take to write an offer.
8. Assuming Colorado legalities and practices are "just like home."  Real Estate is truly local, learn & accept the local customs and you will be happier.
9. Don't combine a house hunting trip with a social event.  Some days last longer than normal and if you are here to buy a house that is where the focus should be, not on whether dinner at the friend's house is burning to a crisp because we found "The One" and can't get to see it until later.  Flexibility is a must. Don't commit to multi-tasking.
10. Forgetting the checkbook.  :)

© Kristal Kraft, Denver Realtor

Orbitz.com chooses Denver #6

As far as summer vacations go, the online travel website ranks Denver as the #6 place to visit. 

Understandably Orlando was #1, but Seattle for #2 (who likes rain on vacation?), Las Vegas, Chicago and Los Angeles all precede Denver in rankings.

Denver ranks well as a city according to Inc.

The May issue of Inc. Magazine rated 393 cities in the U.S and judged them by several growth factors.  Denver/Aurora was awarded #37.

In the smaller city category Colorado Springs and Boulder also ranked very well.  Boulder was #37 and Colorado Springs #43.

The northern Colorado town of Greeley received the best of all Colorado rankings in the the "hottest small city" as #18. 

The source of this report is the Denver Business Journal.  Read the entire article here.

Denver Employment Outlook is Strong

In an article yesterday The  Wall Street Journal noted Denver's employment  outlook as Strong.  Considering employment is a leading indicator for real estate sales, this is good news.

Flight 93 by Universal Studios

This has nothing to do with Denver real estate, but a friend of mine from High School published a website with a discussion on his participation of the Flight 93 promotions.  Gary is an audio engineer, his job placed him at the screenings with the families of the victims of the infamous flight on 9-11.  The website has some interesting audio clips from the victims family members.

View the UNITED 93 site written by Gary Palamara here.

Insulation Info

Insulation...How much is enough?

Source & thanks to: David Roos, Colorado Home Inspector, ASHI #243378 Safe and Sound Home Inspection

When I step off my ladder to report to a prospective home buyer how much insulation exists in their attic, they often ask "is that enough insulation?: That question seems simple enough, however there are quite a few variables one must consider in determining the amount of insulation that is required.  Some of the variables are: type of insulating material, amount of insulation elsewhere in the home, type of heating system, number and size of windows in the home, climate, and local building codes.  This article will help you assess whether your insulation is adequate.

Why do we insulate?

Heating and cooling acount for 50 t0 70 % of the energy used in the average American home.  Unless your home was constructed with special attention to energy efficiency, adding insulation will probably reduce your utility bills.  Much of the existing housing stock in the United States is not insutlated to the best level. Older homes are likely to use more energy than newer homes, leading to higher heating and air-conditioning bills.  Even if you own a new home, adding insulation may save enough moey in reduced utility bills to pay for itself within a few years.

Priority areas for insulation are:

1. the attic
2. under floors above unheated areas, on walls in basements and crawlspaces
3. exterior walls

Rype (R-value per inch)	Usage
Blanket Fiberglass   Regular (R2.5)   High performatnce (R3.7 to R4.3)	Attics, ceilings floors, walls
Loose-fill   Fiberglass (R2.5)   Callulose (R3.5)   Rock Wool (R2.8)   Ply foam spray (R5.9)   Vermiculite (R2.7)	Attics, walls, Good for hard to access areas or areas with obstructions. Vermiculite and Perlite are no longer used.
Rigid   Poly foam (R3.6 to R5))   Polyisocyanurate (R5.6 to R7)   brand name Celotex	Basement walls, exterior walls, low slope roofs. Must be covered indoors for fire safety. Must be covered outdoors to weatherproofing.

Types of Insulation

Your choice of insulation is mainly dependent on the area it will be used.  The effectiveness of insulation is stated in terms of R-value, which is a measure of resistance to  heat flow.

The following table shows common types of insulation, R-value per inch thickness, and typical usage.

Area	R-value	Thickness (fiberglass blanket)
Attic	R-38	12"
Floor (over unheated space)	R-25	8"
Basement wall interior	R-11	3"
Crawlspace wall	R-19	6"

Recommended Insulation Amounts for Denver, Colorado

Unlike some other states, Colorado does not have building codes for energy efficiency. Each municipal code is different and some towns do not have codes at all! The following suggested amounts of insulation are based on Department of Energy recommendations for new construction in Denver, Colorado assuming a natural gas heating system. See the Further Resources section for a website that does insulation calculations for you.

Cost to Insulate (materials only)

Add 6' fiberglass blanket to 1,000 square foot attic: $365

Add 6" blown in cellulose to 1,000 square foot atttic: $215

Further Resources

Calculate insulation needs for your home
Department of Energy

March 2006 - Denver real estate Statistics

March 2006

Metro Denver Prices: Metro Denver Prices:

Single Family Average Price: (Detached Dwelling)		Mar 2006	$313,339
		Feb 2006	$305,017
		Mar 2005	$292,046
Condo Average Price: (Attached Dwelling)		Mar 2006	$182,727
		Feb 2006	$175,422
		Mar 2005	$184,409
Combined Average Price:		Mar 2006	$284,489
		Feb 2006	$276,746
		Mar 2005	$269,254
Percent of Sales Price Change: from Mar 2005 to Mar 2006		Single Family:	+7.29%
		Condo:	-0.91%
		Combined	+5.66%
Total Combined Number of Homes for Sale:		Mar 2006	27,309
		Feb 2006	25,484
		Mar 2005	23,023
Percent of Change in Available Inventory: (Mar 2005 vs. Mar 2006)			+18.62%
Number of Combined Homes Sold this month		Mar 2006	4,405
vs. previous month		Feb 2006	3,273
vs. same month last year		Mar 2005	3,778
Average days on Market: (Combined Sales)		Mar 2006	104.96
		Feb 2006	109.58
		Mar 2005	99.87
Absorption Rate: (number of weeks necessary to sell current combined inventory at current rate of sales)		Mar 2006	26.86 weeks
		Feb 2006	33.74 weeks
		Mar 2005	26.41 weeks
Median Sold Price:Single Family		Mar 2006	$247,500
		Feb 2006	$238,500
		Mar 2005	$236,500
Condo		Mar 2006	$159,900
		Feb 2006	$149,440
		Mar 2005	$158,500

Colorado #1 for Concentration of Tech Employees

Seven years running, Colorado has managed to maintain the highest concentration of Tech workers.  Our tech workers are among the best paid ranking #8 out of all the U.S. locations.

When it comes to total exports, tech exports total more than half of Colorado's total.

The top ten high tech states are as follows (stated per 1,000 private sector workers):

1. Colorado 88.72
2. Virginia 88.60
3. Massachusetts 85.13
4. District of Columbia 78.83  (P.S. note for Jay Leno's streetwalkers, D.C. is NOT a state)
5. Maryland 78.33
6. New Mexico 73.08
7. Idaho 72.53
8. California 71.76
9. New Hampshire 70.76
10. Washington 69.22

The Geeks Shall Inherit the Earth...or at least Colorado   :)

Information source: Rocky Mountain News/Cyberstates 2006 American Electronics Association