November 19th, 2012
Builder confidence in the housing market continues to climb as the National Association of Home Builders today announced another gain from the previous month in the Housing Market Index. The Index hit 46 for October, a 5 point increase from the reading of 41 for September.
Existing Home Sales for October also increased with an annualized sales reading of 4.79 million previously owned homes. All time low mortgage rates coupled with inventories of previously owned homes close to 10-yr. lows are seen as factors in the continued strength of the housing market.
The West continues to lead the other three regions with purchases rising 4.4% compared to rises of 2.1% in the South and 1.8% in the Midwest. A drop of 1.8% in the Northeast is being blamed on the devastating storm Sandy.
October 17th, 2012
Housing starts – the measure of the change in the annualized number of new residential buildings that began construction during the current month – jumped 15% to 872,000 for the month of September, it’s highest level in 4 years. The number blew away the average estimate of 770,000. Building permits also advanced 12% to an 894,000 annual rate – the most since July of 2008. Yesterday the NAHB (National Association of Home Builders) announced another new 6 yr. high in the Housing Market Index with a reading of 41. The positive housing numbers indicate the growing confidence by builders in the recovering housing market.
October 1st, 2012
When Summit Legend purchased 19 residences at the corner of 29th and Inca in the fall of 2011, they expected to have success in finding owners for these residences – but they had no idea that it would happen this quickly. Because of the real estate market collapse over the last few years, homebuilders have been reluctant to build new homes, deciding instead to wait for the demand to come back before taking on the risk of building. This lack of new building has created a shortage of available homes for sale in the Denver area. When Summit Legend initially started listing the available residences in the Union Station Townhomes in October of 2011, it created a scene reminiscent of the late 90’s when potential homeowner’s were fighting over available properties. In just 10 months, 18 new homeowners have taken up residence in the Union Station Townhomes, with one final residence still available.
The last available home is one of two corner penthouse residences. Residence #5 has 4 stories, 3,000 sq. ft., 3 bedrooms, 3.5 baths, large media room, office loft, private over-sized 2 car garage, gourmet kitchen with Viking professional appliances, dramatic windows with 30 ft. ceilings, enormous rooftop deck with breathtaking views of Coors Field and downtown, and your very own private elevator. The next owner of this beautiful residence will be within easy reach of every possible amenity that downtown Denver has to offer. For more information please visit www.UnionStationTownhomes.com.
September 29th, 2012
Average interest rates on a 30 yr. mortgage hit an all time low this week of 3.4%. With rates this low, you might want to ask yourself if it is time to jump in and purchase a home rather than donating your rent to pay for your landlord’s mortgage. It is estimated by Jed Kolko, Chief Economist at Trulia.com, that a homeowner in Denver could save $1,025 every month over a renter. (Assumptions – you own the home for 7 years, itemize your tax deductions, are in the 25% income tax bracket and get a mortgage rate of 3.5%.) What could you do with an extra $1,025 in your pocket every month? Even if you only planned to stay in the home for 3 years, you could still save $628 per month by owning rather than renting.
September 20th, 2012
Housing data released this week reveals an accelerating rebound in the U.S. housing market! According to the National Association of Realtors, existing home sales for the month of August rose to an annual rate of 4.82 million units. The median home price in the West rose 16.3% from a year ago to $242,000.
This month’s reading of the Housing Market Index (HMI) from The National Association of Home Builders (NAHB) hit its highest mark since June 2006! The index registered a reading of 40, beating last months reading of 37, marking the 5th consecutive monthly gain for the index. The index measures builder confidence and is composed from a survey of roughly 900 home builders throughout the country. A reading above 50 indicates a favorable outlook. Although the index is fighting an uphill battle to get into positive territory, it is clearly heading in the right direction. The index has risen 186% from one year ago after bottoming out with a reading of 8 in Jan. 2009. Of the four regions of the country, the West registered the highest reading at 43, while the Northeast was lowest with a reading of 30.
September 17th, 2012
Designing and constructing an energy-efficient house requires careful planning and attention to the details. The whole-house systems approach will help you, your architect, and builder develop a successful strategy for incorporating energy efficiency into your home’s design.
Architects and builders who use this approach recognize that the features of one component in the home can greatly affect other components, which ultimately affects the overall energy efficiency and sustainability of the home.
A whole-house systems approach considers the interaction between your home, your building site, your climate, and these below elements or components of your home:
- Simplify the design for sustainability.
- Reduce the home’s maintenance costs.
- Foundation insulation and moisture control.
- Advanced farming methods will provide greater insulation values, reduce lumber use and waste – this improves energy efficiency in the construction of a traditional wood-framed house.
- The thermal envelope: complete air barrier, drainage plane, insulated sheathing and minimizing thermal bridging.
- Proper insulation and sealing.
- Whole-house ventilation.
- Bathroom and kitchen fan ventilation.
- Energy efficient appliances and home electronics.
- Energy efficient lighting and day lighting.
- Efficient and correctly sized heating and cooling systems.
- Tight ducts and pressure testing.
- Energy efficient hot water system.
- Innovative and energy efficient windows/glass and exterior doors.
- Field verification.
These are some benefits of using a whole-house systems approach:
- Reduced utility bills.
- Less maintenance required and less costs for maintenance.
- Increased comfort.
- Reduced noise, drafts, moisture, dust, pollen and pests.
- A healthier indoor air quality for you and your family.
- Improved building durability.
June 30th, 2010
The annual Blues Festival held at Hideaway Park this last weekend was a total success! Unlike the previous year, there was only one cloudburst that brought rain and dime sized hail. It did nothing to dampen the crowd’s enthusiasm though! Everyone ran for cover when the band shut down, taking advantage of the break, beating a path any one of several of the nearby local restaurants for a little food and brew. Half an hour later, the weather cleared, the sun came out, the crowd came back and the bands played on!
If you haven’t taken the time to experience one of Winter Park’s music weekends, you should! KYGO will be hosting a day of free country music in the park on Saturday, July 10th. Come up and spend the afternoon with Chris Cagle, the John Abbott Band and Cory Brunson! This year’s Jazz Festival will be held on July 24th and 25th featuring the likes of Chaka Kahn, Brenda Russell and Ryan Shaw.
If weekends aren’t your thing, there is always the “Music in the Park” held every Thursday evening in Hideaway Park throughout the summer. It’s good music. It’s a good time! Come up and join us for some fun in the mountains…
June 24th, 2010
The Denver City Council unanimously adopted the city’s first new zoning code in more than 50 years this past Monday night. Over the past five years, the city council, city planning and development department, and a public/private group called the Zoning Code Task Force have worked on the new zoning code. This new code was created to support the city’s growth plans, including the Comprehensive Plan of 2002 and Blueprint Denver in 2002, both previously passed by the city council. This new code is form and context-based zoning, designed to better manage future growth and be more user-friendly than the old code. This new code is form and context-based zoning, designed to better manage future growth and be more user-friendly than the old code. For more information or questions about the new zoning code, please visit www.newcodedenver.org. By the Home Builder Advocate.