Archive for November, 2009
History of Coventry, the 1970′s newest Gated Community in Littleton
One of the few gated communities to be built in Littleton, was the Witkin developement, called Coventry, located off of Bowles Avenue, and just west of Sheridan Blvd, along the west edge of Arapahoe County within the city limits of Littleton.
Witkin paid $455,751 on March 15, 1973 for the tract of land which was about 101.122 acres, and then subdivided the land into 202 lots , and sold their first home to Ken and Anna Wilkes on Sept. 26, 1974 for $83,300. Wouldn’t we all like to pay those prices all over again.
Originally Witkin was to build all 202 homes, and they had 7 tract models to choose from, but in the mid 1970′s times were tough, and they eventually sold off the lots to other builders, creating a very “custom” community. To the full build out there were 34 different builders, and another posting will detail the different builders.
Some features of the gated community are that they have 39.5 acres of greenbelts, their own well and pond system for irrigation, community pool, clubhouse, playground, basketball court and tennis courts, along with the personnel at the main gated entrance.
The neighborhood is within the Littleton School district and the children attend Wilder Elementary, Goddard Middle and Heritage High School, with the school bus conveniently picking up children at various points within Coventry.
Another bit of trivia: Witkin at the same time they were building Coventry, started a sister neighborhood in Aurora, on Smoky Hill Road, called Shenandoah.
I welcome your comments and responses, and you can always reach me at 303-888-2488.
2 Highlands Ranch websites for Community news
Besides viewing my blog for information on Highlands Ranch, you can always link to the Highlands Ranch Metro District official site for the comings and goings of what is happening in the community. Click here for the site.
For buyers, sellers, homeowners and renters in Highlands Ranch, here is the site for community news. Click here.
Add On’s Don’t Always Add Up in Denver Real Estate
Add Ons Don’t Always Add Up
The National Association of REALTORS® released a report that explains “The Value of Housing Characteristics.” This release can be utilized as an effective resource for consumers when trying to determine how different attributes of a house affect its value when selling, buying or refinancing a home. Many times I often assist home sellers in the pricing of their home, determining which attributes add value or detract from the home’s value. The conclusions from this study are intended to be used as a reference guide in determining how different attributes of a home affect its value.
What Increases Value:
• Larger homes and homes with more bedrooms and bathrooms sell for more above all other features—physical, location and quality.
• Each additional 1,000 square feet of living space increases selling price by about 3.3 percent:
• Each additional bedroom adds about 4 percent to price;
• Central air conditioning adds about 1.2 percent to price;
• Nine foot ceilings add about 6 percent to price;
• A basement increases value by 9 percent;
• Fireplaces have a strong, positive effect on selling price, with each fireplace adding about 1.2 percent;
• A garage adds about 3 percent to the selling price;
• An in-ground swimming pool adds about 8 percent to value, in warm climates, while an above ground pool adds no value;
• Close proximity to golf adds 8 percent to the selling price.
What Decreases Value
• A laundry in the basement decreases value by 2 percent;
• A home with no laundry area decreases the value by 13 percent:
• The age of a home decreases the value of a home ranging from .1 percent (6-10 year) to as high as 7.5 percent (21-30 years);
• Flat roofs decreases the value of a home by 9.5 percent;
• A home that uses electricty to heat the water or the home heating source decreases the value of a home by an average of 4 percent.
This summary report of the country, was compiled and reprinted with permission from the National Association on REALTORS®
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Top 10 Kitchen Planning Guidelines
10 Kitchen – Planning Guidelines
Designing a kitchen is as much a science as it is an art. Knowing the recommended measurements to use when planning the project can make all the difference to the final outcome. Here are 10 to consider; for a list of additional guidelines, contact the National Kitchen & Bath Association at 800-843-6522 or www.nkba.org.
1. For efficiency, plan a classic work triangle (the space between the sink, refrigerator and stove) to measure 26 feet or
less with no single leg longer than 9 feet or less than 4 feet.
2. In kitchens smaller than 150 square feet, where possible opt for at least 13 feet of base cabinets, 12 feet of wall
cabinets, and 11 feet of countertops. In kitchens 150 square feet or larger, go with at least 16 feet of base cabinets,
15 1/2 feet of wall cabinets, and 16 1/2 feet of countertops.
3. For convenience, plan work aisles to be at least 42 inches wide for one cook, and at least 48 inches wide in
multi-cook kitchens.
4. Specify a minimum of 24 inches of counter space on one side of the sink and at least 18 inches on the other.
5. To create the most assessable landing for unloading groceries, allow at least 15 inches of counter space on the handle
side of a standard refrigerator, or on both sides if it’s a side-by-side model. Or include a landing area directly across
from the refrigerator, but no more than 48 inches away.
6. For cleanup ease, install the dishwasher within 36 inches of one edge of the sink and allow for at least 21 inches of
standing room next to it.
7. For microwaves and ovens, provide at least 15 inches of counter space nearby, at least 16 inches deep.
8. For optimum clearance, no entry, no appliance, and no cabinet doors should interfere with one another.
9. For comfort and to help avoid repetitive-motion injury, plan work counters of different heights: between 28 and 36
inches off the floor (easier for chopping and seated-use access), and between 36 and 45 inches for general tasks
(higher counters accommodate taller cooks).
10. To install a cabinet unit above the cooktop, make sure the clearance is at least 24 inches for a fireproof surface, 30
inches for an unprotected surface.
When remodeling your kitchen, give a quick call to me, and I can give the ins and outs of what will increase value in the Denver, Littleton and Highlands Ranch markets. We also have contractors who can give you other ideas about costs.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Denver has smallest price decline from a year ago
Denver saw the smallest price decline in home prices among cities surveyed in September compared with the same month a year ago, according to a survey by the Standard & Poor’s/Case-Shiller home price index. 20 cities were surveyed across the county, and the 20 city composite dropped 9.4%.
Denver’s values only declined 1.2% over the last year, compared to such volatile areas like Las Vegas (28.6% decline) and Phoenix (21.8% decline). So our little plot of paradise did remarkedly well. This would be attributed to the fact that we never skyrocketed in value from 2003-2006, and was just a steady consistent price adjustment.
Yes I know it would be great to say we went up so much % year over year, but consider the financial stress the economy is in, this is a small percentage drop overall. I am glad we did not drop in value of almost 1/3rd. That could be too much to handle in one year.
Call me to discuss your neighborhood, as some are holding steady, and some have been crushed. Please comment on any of my blogs.
Top 10 things Buyers want to know about a Home
Top 10 things buyers want to know about a house
1. Location and neighborhood
2. Price or price range
3. Appearance (including a picture)
4. Layout or floor plan
5. Total number of rooms
6. Number of bedrooms and bathrooms
7. Size of lot and square footage of house
8. Details about the community
9. Amenities and features
10. Phone number for more information
Let me know if you need any more information about how we can market your home.
303-888-2488
Garard & Associates Celebrates 25 years selling in Littleton and Highlands Ranch
Garard & Associates, LLC
Celebrates 25 Years
Selling Homes in Denver
Garard & Associates, LLC of Highlands Ranch is happy to announce that Michael C. Garard has been selling homes with Buyer’s and Seller’s in the Denver Metropolitan area for the last 25 years. Time has flown by since I started in August of 1985. At that time interest rates were dropping down to 13 1/2%, a maximum FHA loan was $93,450 and the median price of a Denver home was about $104,000. Now 25 years later, interest rates are around 5 1/2%, or as low as 3.95%, with a median price of a Denver home around $272,000.
Think of what the next 25 years will bring. The median price could easily be in the 400′s, with interest rates comfortably around 9%. What would you have as an investment if you bought one extra home during that time?
Is a real estate rental or investment property in your portfolio now? Whether we are still in a “housing bubble” or “not”, with the capabilities of real estate leverage, you could position your equity to ride the financial serge that could rise in value over the next 25 years.
Year after year I look forward to providing excellent service to my clients, their families and friends. Thank you for allowing me to help each of you achieve your goals and dreams, with your help Garard & Associates, LLC plans to continue to provide excellent quality service to home buyers and home sellers in Littleton and Highlands Ranch for many years to come.
Give me a call at 303-888-2488 to discuss your real estate needs.
A Friendly phone number to help avoid Colorado foreclosure
According to the Colorado Foreclosure Hotline, 4 out of 5 homeowners who meet with a housing counselor successfully avoid foreclosure. The number to call in Colorado is:
1-877-601-HOPE (4673)
This is a free service, no equity scammers are on the other line, no investor vultures are on the other line, this truly is a great service for those in need of answers to many questions regarding loans. They have assisted over 10,000 homeowners since Oct 11, 2006.
From 2007-2008 they had these resolutions:
- Brought mortgage current 15%
- Initiated forbearance/repayment 10%
- Helped with Short Sales 23%
- Helped with Bankruptcy 14%
- Mortgage modified 7%
- Other types of resolutions 14%
- Mortgage was foreclosed 17%
Give me a call for some other free advice, or also look them on their website at:
ColoradoForeclosureHotline.org
I always welcome comments and responses. You can always call me directly at 303-888-2488.
For Littleton Home Sellers: Top 5 Home Improvement Projects, Based on Cost and Return on Investment
According to a HomeGain.com nationwide survey, the top do it yourself home improvements that us Realtors recommend to home sellers,based on improvements under $5000, that benefit the sellers the most when they sell their home are as follows.
- Cleaning and De-cluttering, with a $200 cost and a $1700 price increase, 872% Return on Investment (ROI)
- Home Staging, with a $300 cost and a $1780 price increase, 586% (ROI)
- Lighting and brightening, with a $230 cost and a $1300 price increase, 572% (ROI)
- Landscaping, with a $320 cost and a $1500 price increae, 473% (ROI)
- Repairing Plumbing, with a $385 cost and a $1250 price increae, 327% (ROI)
So, Littleton sellers who make these recommended improvements, often get their homes sold faster and at higher prices. Rounding out the top 12 list of low cost improvements are:
- updating electrical
- replacing or shampooing carpets
- painting interior walls
- repairing damaged floors
- updating the kitchen
- painting the outside of the home
- updating the bathrooms
So when thinking of selling your home in todays Denver market, think again about a little extra investment to make your home stand out. Call me to discuss what we can do to maximize your investment.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Are you quick enough to get the LAST home in Firelight in Highlands Ranch?
Last Home in Firelight of Highlands Ranch
The last home, a Shenandoah model, is available, built by Shea Homes in the Firelight subdivision within Highlands Ranch. If this one sells, then all that will be available are resale homes, and these will be priced at market prices.
Or we can help you search the MLS here. Search
For a list of the top 15 things to watch out for when having a home built, click here
I always welcome comments and responses. You can always call me directly at 303-888-2488.
New Tax Credits for Littleton Homebuyers Signed into Law
President Obama made it official on Friday, and signed the first time homebuyer tax credit, along with the new move up buyer tax credit. So until April 30, 2010, many homebuyers will be getting a credit, if they qualify. Call me to discuss your situation.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
October Home sales data for Highlands Ranch
In reviewing the MLS data for home sales in Highlands Ranch we see that average days on market has increased to 108 days compared to last years 78 days. Number of active listings increased to 658, and absorption rate increase to 5.3 months of inventory.
Condos in Highlands Ranch improved as they had their average days on market drop to 62 days, and the average price sold rose to $253,873. For further details, print out the report with accompanying graphs.
Highlands Ranch Oct 2009 MLS info
I always welcome comments and responses. You can always call me directly at 303-888-2488.
I want to buy in Highlands Ranch and Littleton, Do I Get a Tax Credit?
Here is a printout of what the National Association of Realtors has put out regarding first time homebuyers and move up buyers, and who qualifies for what and the time frames and income limits.
Lets go buy a home today, call me at 303-888-2488
Tax credit info sheet for homebuyers
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Move up homebuyers in Littleton will now benefit
The House of Representatives passed legislation Thursday that would extend and expand the tax credit for first-time home buyers.
The bill passed the House on a 403-12 vote. The Senate passed the legislation 98-0 Wednesday, and President Barack Obama is expected to sign it into law Friday.
So next week this should be law, and the move up homebuyers can now start to shop in Littleton and Highlands Ranch for that next home, get the homebuyer credit, and be able to get these low interest rates.
Call me at 303-888-2488 to schedule a homebuyer meeting.
The $8,000 first-time home buyer tax credit, which helped home sales rebound this year, was scheduled to expire Nov. 30. The legislation extends it to homes that are under contract by April 30, 2010, and creates a new $6,500 tax credit for owners of existing homes who buy a new principal residence. To take advantage of this credit, buyers must have lived in their old house for at least five of the past eight years.
The legislation also increases the income eligibility limits for the tax credit from $75,000 to $125,000 for individuals, and from $150,000 to $225,000 for joint filers. The cost of the home cannot exceed $800,000.
More than 1.4 million households have benefited from the current tax credit, “the majority of whom have incomes below $50,000,” said Rep. John Lewis, D-Ga.
Sen. Johnny Isakson, R-Ga., pushed the Senate to expand the tax credit to “move-up” home buyers. He said this is the last time the tax credit will be extended.
“I urge all Americans, whether they’re first-time buyers who’ve always dreamed of buying a home of their own or someone who’s been gridlocked in the failure of our move-up market, to take advantage of this opportunity,” said Isakson, a former Realtor.
The National Association of Home Builders predicts the extended and expanded tax credit will generate 180,000 additional home sales.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
Will we get the extension on the First Time Homebuyer Tax Credit?
After two weeks of delay, the Senate cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it virtually certain that the legislation will reach President Obama for his signature this week.
The homebuyer tax credit, due to expire at the end of November would be extended through April 30 of next year. First-time buyers who are in the process of making a purchase would not need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.
For the first time, the legislation that was recently cleared makes move-up buyers as well as first-time buyers eligible for a credit. The $8,000 maximum first-timer credit will continue and will now be available to couples with income up to $225,000, a nearly $55,000 increase above the level in existing law. A new $6,500 maximum credit would also be available to move-up homeowners who have lived in their current residence for five of the prior eight years.
For homebuyers across the country, the expanded tax credit would allow more people to qualify for the credit. While two-thirds of American families own their own home, and most earn less than the income limits that have been established within the extension, more buyers may be eligible. Move-up buyers don’t have to sell their current home to qualify for the new credit, but the money cannot be used to buy a vacation home. “It’s only for a primary residence,” said Regan Lachapelle, a spokeswoman for Sen. Harry Redi (D-Nev.), who helped engineer the deal.
The legislation included provisions added to address complaints of fraud as well. The Internal Revenue Service is given greater authority to oversee the process to root out fraud, and provisions are added in response to past abuses of false sales or underage buyers. An investigation by the Treasury Department’s Inspector General for Tax Administration found that more than 580 children, some as young as four years old, had received $627,000 in first-time homebuyer credits.
So some lobbyist do work for the regular people, as this will help the domino effect of the home selling process. It starts with the first time homebuyer, who will buy the sellers home, which will help the seller move up to their next home, which will help that move up seller, who then will buy their move up home, and on and on and on.
Stay tuned for further info.
I always welcome comments and responses. You can always call me directly at 303-888-2488.
