Denver's Parks and Recreation department has proposed a new 'tiered' structure for the City's recreation centers, which could result in membership fee increases of as much as 200%. The DPR proposal will be reviewed by Council's Land Use, Transportation & Infrastructure Committee on Tuesday June 7.
Details of the proposal, and more information, are available here.
...It is almost here!
Registration is underway for the sixth annual Stapleton Community Garage Sale. Sponsored exclusively by Diana and Michael Kearns, Realtors with RE/MAX of Cherry Creek in Denver, the sale is one of the largest community yard sales in Colorado and costs nothing for residents to participate.
Over 300 homes are expected to participate this year, and as a result of the huge number of buyers and sellers the sale has expanded to two days - July 16 and 17, 2011.
For more information, please visit the Stapleton Garage Sale website.
...The Annual CHUN People's Fair, sponsored by the Capitol Hill United Neighborhoods, is this weekend, June 4 and 5, 2011 in Civic Center Park. The festival times are Saturday from 10am to 8pm and Sunday from 10am to 7pm. Admission is free!
Celebrating its 40th anniversary in 2011 (and produced by CHUN since 1974), the People's Fair is a great example of urban diversity and neighborhood pride, as well as one of Colorado's largest Arts and Crafts Fairs with over 500 exhibitor and food booths and 250,000 attendees.
For more information about the People's Fair and Capitol Hill United Neighbors, please visit their website.
Capitol Hill is a vibrant residential neighborhood in Denver, Colorado. Learn more about Denver real estate and homes for sale in Capitol Hill.
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Our friend Denver Councilman Michael Hancock is running for Mayor. Michael has been a great Councilman for Denver (representing northeast Denver) over the years. I've worked with Michael on a number of issues (economic development, parks and recreation, traffic, etc).
Please make sure that you vote in the mayoral election. This is an all mail election, so please return your ballots ASAP - experts are predicting that only about 30% of ballots will be returned. As an added benefit, once your ballot is received it appears that the robo-calls from all candidates cease (it worked for me)!
Second, Michael Hancock will be in Stapleton on Thursday evening, and I would love to have you join us to meet and speak with him. The event is at the home of Brian and Tamara Smith, 2602 Alton Street. It will be Thursday April 28 from 5:30 to 7:00 pm. There are suggested donations on the invitation, but I know that this is going to be a tight election and every donation is appreciated. If you can attend, please RSVP directly to Alexis Marsh at Alexis@HancockForDenver.com or 303.364.7735.
If you're not available on Thursday (or you're just not into attending political events), I would encourage you to visit Michael's website at http://www.hancockfordenver.com/ or his Facebook page at http://www.facebook.com/pages/Hancock-for-Denver/133024146715314 to read more about Michael and his plans for the City. Yesterday he unveiled his plan for the first 100 days of his administration.
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This morning's Denver Post carried a front page headline titled, 'Tepid U.S. Forecast: Reports spawn housing concerns.' Throughout the article (which was mostly about national housing statistics), the author used Median Home Prices to illustrate their points about trends in home prices.
But do most people understand what Median Home Price means?
Guess John Elway was looking for something to do during the NFL lockout.
The 2014 PGA Tour BMW Championship is moving from the Chicago area to Denver's Cherry Hills Country Club. John Elway, President of the Cherry Hills Country Club, former Broncos quarterback, and current team Executive Vice president of Football Operations ditched his Broncos orange and blue for a red blazer to make the announcement yesterday.
The BMW Championship is part of the four-event FedEx Cup and will be held from September 4 to 7, 2014. The Cherry Hills Country Club also hosts the USGA's 2012 U.S.Amateur Championship.
...By Kenneth R. Harney / The Nation’s Housing
WASHINGTON — You may have seen reports that the federal government is proposing new mortgage finance rules under which only home purchasers who can afford a minimum 20 percent down payment on a conventional loan would get a shot at the best available interest rates and terms.
That is correct, and it’s deeply sobering news for large numbers of first-time and moderate-income buyers who can’t come up with that much cash or afford to pay higher rates.
But some of the other requirements that federal agencies and the Obama administration are proposing in the same plan have gotten much less attention, yet could prove just as troublesome for consumers:
These are all core features of what may be the most sweeping and controversial set of changes in decades for the housing and mortgage markets. The so-called “qualified residential mortgage” (QRM) proposals were released at the end of March by banking, securities and housing regulators, along with the Department of Housing and Urban Development. The agencies were required by the 2010 financial reform legislation to come up with new standards for low-risk conventional mortgages.
Congress did not specify precisely what a “safe” mortgage should look like, but directed the agencies to consider such factors as full documentation of borrower income and assets plus avoidance of toxic features such as negative amortization and balloon payments.Congress was silent on the subject of minimum down payments.
Under the law, loans that do not meet the strict QRM tests will be pushed into a less-favored, higher cost category: Banks and Wall Street securitizers will need to set aside 5 percent of loan balances into reserves to handle possible losses from defaults. This extra capital cost inevitably will be passed on to consumers.
Mortgage industry estimates of the interest rate differential between ultra-safe, QRM-qualifying loans and all others range from three-quarters of 1 percent to three percentage points. In today’s market, this would mean that mortgages that meet the federal agencies’ stringent new standards might go for 5 percent. But all others -- the vast majority of today’s conventional loans -- could cost anywhere from just under 6 percent to 7 percent and higher.
You can only muster a 10 percent down payment? Tough. You can’t quite fit into the tight confines of the QRM’s debt-to-income ratio rule? Pay up.
Where and when will this all start hitting the marketplace? It won’t change anything much for a while. The proposals are out for public comment through June 10 and won’t likely be put into effect until mid-2012. The agencies’ proposal, though not the legislation, exempts mortgages sold to Fannie Mae and Freddie Mac from the rule as long as both remain under federal conservatorship - a date uncertain. FHA and VA mortgages will not be subject to QRM either.
Meanwhile, builders, consumer groups, banks, realty agents and others are readying campaigns to convince the regulators and the Obama administration to back off some of their harshest provisions. Michael Calhoun, president of the Center for Responsible Lending, argues that if adopted in its current form, the proposal will make it much tougher for modest-income and minority consumers to ever afford a first home.
Jerry Howard, CEO of the National Association of Home Builders, says the agencies and the administration have strayed far beyond Congress’ intent, and their proposals threaten to wreck any recovery in housing and force millions of Americans to rent rather than to own.
“I think we’re in for a hell of a fight,” he says.
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RISMEDIA, April 9, 2011—Every season brings a different set of chores in the garden. Spring is an exciting time for gardeners as preparations are made for the bounty and beauty of the garden as it awakes from winter hibernation. It can also, however, be a bit overwhelming to know how to prioritize your gardening time at this time of year. Here is a helpful list of chores that should be tended to in the spring from Scott Reil at HelpfulGardener.com.
Pruning
For early blooming shrubs such as forsythia and viburnum, prune them as soon as blooms have passed. Early spring is also an ideal time to prune your roses.
Deadheading
Remove spent flowers from bulbs, but leave the rest of the plant as is for the time being.
Weeding
Pull weeds from your beds and borders before they have a chance to take hold and spread.
Composting
Tend to your compost if it has been neglected over the winter. If you do not have a compost bin, spring is a great time to start one.
Tools
Spring is a good time to prepare your tools for the oncoming gardening season and to make any necessary repairs or new purchases. You will be happy you have done so when summer sets in.
Plant
Spring is a great time to add new plants to your garden. Be sure, however, that all threat of frost has past. Plant such things as trees, shrubs, hardy annuals, and summer blooming bulbs.
Fertilize & Mulch
Fertilize and mulch beds and borders. Spring is also a good time to fertilize fruit trees. If you applied heavy winter mulch for protection from the cold, you will need to clear it away.
Staking
Stake plants that may be prone to wind damage during the unpredictable spring weather.
Lawn Care
Spring is the best time to start a new lawn from seed. For established lawns, you should start mowing in the spring, but don’t initially cut the grass very short for the first few times.
Of course, whether you start these chores in early, mid, or late spring depends on the climate where you live, taking in to account such factors as when the threat of frost has past or when the ground is thawed enough to dig. I hope these tips will give you a good idea as to where to focus your attention in your garden this spring. Enjoy!
For more information, visit http://www.helpfulgardener.com/tips/03/spring.html.
From Xcel Energy
Having been in the housing industry, both Susan and Phil Shirley are pretty darn knowledgeable about energy efficient homes. So, when they purchased their ENERGY STAR® home in Longmont, Colo., they knew that it would meet their standards for building construction, efficiency, and energy savings.
'We're quite pleased with this home, which is important because we both have home offices here,' says Susan. 'During the coldest days this winter we were able to keep our home warm on $6 a day, which we feel is very affordable for a 2,500 square foot home.'
ENERGY STAR® qualified homes are typically 15 to 30 percent more efficient than standard homes built to local code and use substantially less energy for heating, cooling and water heating, delivering up to $500 to $700 in annual savings over standard homes.
Move into one of these homes, and not only will you be saving big bucks, you will be making a choice that positively impacts the environment. For example, did you know that one ENERGY STAR® qualified new home can keep 4,500 pounds of greenhouse gases out of the air each year?*
Xcel Energy partners with third parties to provide training consultation, diagnostics testing and ENERGY STAR® Certification for builders. This free program helps builders construct homes that surpass all others in terms of comfort, energy efficiency, moisture control, air quality and durability.
Xcel Energy works together with partners to ensure the homes are ENERGY STAR® qualified. Typically these homes include the following:
I know your next thought is -- how do I qualify? Your new home must be located in a community within Xcel Energy's residential natural gas service territory in Colorado. Since the inception of the program through Jan 2011, Xcel Energy has worked with Colorado home builders to construct 4,841 energy efficient houses that have qualified as ENERGY STAR® Homes.
Since 2006, all new homes built in Stapleton are required to meet ENERGY STAR® standards. Prior to 2006, new homes in Stapleton were required to meet the standards of Built Green Colorado. Thanks to this commitment to energy efficiency, HGTV chose to build the 2011 HGTV Green Home in Stapleton.
...Come visit these great homes this wekeend at their Open Houses!
Sunday, March 27, 2:00 - 4:00 pm
For more information on upcoming real estate open houses in Denver, please visit our Denver Open House Schedule page.
...Received today from Tob Boasberg, Denver Public Schools Superintendent:
Dear DPS Community:
I wanted to take this opportunity to update you on our budget outlook for next year, in light of recent news on the state’s budget outlook and its impact on area school districts.
It is very true that public education throughout the state of Colorado is facing extraordinary budget challenges. You have probably heard about how many Front Range school districts are planning on layoffs, furlough days for teachers, charges for transportation and increased class sizes. We, however, are fortunate that we are not cutting school budgets for next year or raising class sizes across the board. And, we are not planning any furloughs or layoffs or increased charges for services like transportation. We will, in fact, have more teaching positions in the Denver Public Schools next year than this year.
The Governor’s updated state revenue forecast last Friday, moreover, provided—at long last—some hints of a recovering economy. If the Governor and legislature are able to reduce the $35 million of state revenue cuts currently planned for DPS, it’s possible that we might be able actually to increase modestly our funding for schools next year. We will know more on this by the end of April.
To deal with the $35 million in cuts the state is considering for DPS, we are currently planning to absorb all of that reduction in funding through cuts to centrally funded programs and the use of pension finance savings in order to keep the cuts away from schools. We have also been helped by the fact that in the last two years, we have been able to attract more than $80 million in multi-year competitive grant funding from both foundation and government sources, which is helping drive our key reforms around educator effectiveness and support for English language learners.
As you know, we have made very difficult decisions for the past several years on salary increases and program cuts at the district level to help us weather the economic storm. We are cutting $10 million in centrally funded services for next year in order to maximize the dollars going into classrooms. Our very clear priority is to keep the impact of funding cuts as far from the classroom as possible and to keep the dollars and spending decisions as close to kids as we can. As evidence of that commitment, we currently spend about 95% of our budget in our schools, with the remaining 5% spent on central costs.
To further offset the funding shortfall from the state and keep cuts from schools, we’re also planning to use about $15 million of savings from our 2008 pension financing next year. As an update on our pension financing, the Board of Education last week unanimously approved a plan to convert half of the $750 million in pension bonds from the 2008 financing to a fixed interest rate. This helps provide more certainty on financing costs, while also continuing to save the district millions of dollars annually over the pension structure in place prior to our merger with the Public Employee Retirement Association of Colorado.
As a result of these savings and efficiencies, we have been able to avoid the severe budget cuts that other local districts are facing. Nevertheless, the recession has hit all segments of the community hard. Our schools have certainly not been spared, and I sincerely appreciate the sacrifice and extra work of our teachers, principals, and support staff in helping us protect the classroom from the impact of funding cuts.
Going forward, it’s clear that there is a strong need for all of us—teachers, parents, students, community members, and business leaders—to come together and have a community conversation about the impact that continual funding cuts have on our city and our state. We cannot continue this cycle of cuts and more cuts. As a community, we need to make a significantly higher investment in our schools
Thank you for your involvement and interest in our schools, and we will continue to update you as the state’s budget is finalized
Best,
Tom
For more information, contact the DPS Communication Office at (720) 423-3414 or e-mail communications_office@dpsk12.org.
...Just a quick reminder that changes are coming to FHA mortgage programs in April 2011. Increases in FHA mortgage insurance could cost you $50 or more EVERY MONTH!
Read more to understand how you can avoid these additional costs - there's still time to buy a new home and beat the FHA deadline.
...It's now easier than ever to qualify for a rebate on a new water heater. If the model you were considering wasn't eligible before, it may be now.
As of January 1, 2011, Xcel Energy customers can now qualify for rebates for .62 and .64 EF water heaters, in addition to other models. Water heating is typically the second largest consumer of energy in your home after heating and cooling. With more rebates*, there's never been a better time to replace your old unit.
Save when you buy, save when you use.
With a new, more efficient model, you'll notice a sizable savings on your energy bills throughout the life of your equipment.
To learn more about how you can reduce your cost of buying your energy-efficient unit and help save natural resources, visit xcelenergy.com.
* Only units installed after January 1, 2011 qualify for the new rebate.
...RISMEDIA, February 28, 2011—Continued improvements in economic activity driven by strong growth in consumer spending are moving the economy beyond the recovery phase and into a period of expansion, according to the February 2011 Economic Outlook released by Fannie Mae's Economics & Mortgage Market Analysis Group. For 2011, economic growth is projected to accelerate to 3.7%, up from 2.8% economic growth in 2010.
Housing has yet to see robust movement, but the excess supply of housing appears to have peaked. In addition, the rental vacancy rate fell, indicating the excess supply of housing is being worked off slowly—a trend necessary for housing to return to stability.
'We have confidence that the economy is on stronger legs with a sustainable growth path. Our projected annual growth rate for 2011 is nearly a full percent higher than the annual growth rate for 2010, which is a significant event,' said Fannie Mae Chief Economist Doug Duncan. 'Economic cross currents such as the lack of sustained strong job growth, state and local fiscal issues and geo-political uncertainty in the Middle East present downside risks. Nevertheless, the positives outweigh the negatives.'
For more information, visit www.fanniemae.com.
Last week, Xcel Energy announced further reductions in the incentives it offers customers to install solar power systems, and requested that the Colorado PUC approve even further reductions.
According to the Denver Post, 'The combined incentive and rebate drops from $2.35 per watt to $2.01, effective immediately, based on Xcel's change for residential- scale systems that range from 0.5 to 10 kilowatts. Larger systems will incur similar reductions.'
Reports from the Post and from the Colorado Solar Energy Industries Association (COSEIA) claim that the additional reductions requested by Xcel would reduce the incentives to either $.025 or $1.25 per watt. Additional news reports indicate that this action by Xcel could result in the loss of 2,500 - 3,000 jobs in the solar industry.
COSEIA has announced a rally at the Colorado State Capitol (West Steps) scheduled for Friday February 25th at 12pm.
...RISMEDIA, February 16, 2011—The Case-Shiller Index is one of the country’s most popular ways of measuring the movement of home prices. And in its latest rating, which went out in late December, the verdict was: Prices are down. The Case-Shiller report’s 20-City Composite rating was 0.8% lower than it was one year previously; the first year-on-year decrease since October 2009.
When Case-Shiller numbers come out, they have a lag time of several months—the batch released in December covers through October. Since then, a lot of positive things have happened. For one, strong consumer holiday-shopping showings boosted big retailers across the country, making it the best shopping season in years. A rising stock market and tax-cut extension has also made folks a little less nervous to open their wallets. And, while unemployment is still a problem, there is some good jobs news as well—initial jobless claims fell to 388,000 for the week ending Dec. 25, down from 422,000 in the prior week (the first time it’s gone below 400,000 since July 2008).
It’s because of reasons like this—increased consumer confidence and slight lessening of fear—that you shouldn’t count on home prices dropping more. Part of it is psychological: If people see the financial and retail markets go up, signaling that the bottom in this particular financial cycle has been reached and things are moving upward, that creates more interest in buying big-ticket items, like homes. It’s normal for a buyer to start rationalizing things this way: If the economy’s starting to improve, this house is going to wind up costing much more at some point. I’d better get in the door now, so I don’t miss the boat.
Despite initial jobless claims numbers, a high number of foreclosures, a crowded inventory landscape and mortgage rates could, ironically, be a sign to buy. For instance, when interest rates go up uniformly over time as they have been, people develop a bite-the-bullet mentality, thinking: “I’d better buy now even though they’re high, because it doesn’t seem like they’re going down any time soon.”
This mentality—of getting in before things move up—is something to think about if you’ve been considering selling. Get your home prepared to sell by having a professional home inspection and fixing major problems that could be impediments to buyer interest. And for buyers: Buying a home is an individual process with many factors at play, so it’s impossible to say that it’s the ideal time for everyone to buy. But for many buyers, a simple saying may very well hold true: Get in while the getting’s good.
Okay, so I spent an hour searching for a 2011 Colorado Rockies schedule that includes the promotional dates. I was looking for the Rockies Fireworks games, Rockies Fan Appreciation Day, etc. Funny enough, the Rockies don't have this info posted on their own website!
But, the Rockies DID have the pocket schedule available at Coors Field, so I ran down and picked one up. Now I'm sharing, so you too can know when they are giving away the Tulo Bobblehead!
Note that the schedule is still subject to change - they have already moved a few game times from what shows on the printed schedule.
...The Colfax Marathon today announced a new event: The Colfax 5k!
The Colfax 5k will start and finish in Denver's City Park, just east of Ferril Lake (behind the Denver Museum of Nature and Science). Start time is 9:00 am. For more information, visit the Colorado Colfax Marathon website.
...(Courtesy of YOU Magazine)
The economy and housing markets have seen some rough times the last couple of years. But the good news is last year we saw some stabilization in 2010 – and 2011 should continue on the road to recovery.
To help you prepare for the coming year, YOU Magazine has put together a two-part overview of what to look for in 2011. In part one, we look at the big picture and discuss the outlook for the overall economy, the stock market, and the all-important employment market.
In part 2, we'll dig into what to look for in terms of the housing market, including home prices, the foreclosure crisis, new legislation that impacts the housing industry, and the direction of home loan rates in 2011.
Overall, the economy looks to have stabilized from the crisis situation a couple of years ago. Although there are still some global economic concerns in Europe, the U.S. economy appears positioned for continued growth and strengthening.
We see the United States' Gross Domestic Product (GDP) to finish the year up about 2.5% to 3% from where it ended 2010. This growth won't happen overnight, however, but instead will start out slow in the first half of the year and pickup steam in the second half.
Much of that growth should come from demand in other countries. Currently, the U.S. only derives about 12% of its GDP from exports. While that equates to a lot of money, it means that the U.S. relies less on exports than many other countries – and it means that there's room to grow. Already we've seen U.S. exports get back on track and they're primed for growth to countries in places like Asia and Latin America.
This is good news for the U.S. economy as a whole, as well as individuals because it sets the stage for growth while still allowing U.S. consumers to catch their breath. After all, the tough economic climate over the last couple of years has hit U.S. consumers hard and has forced many Americans to reprioritize their family budgets to focus more on their savings.
The stock market had a good year and saw some strong earnings in 2010, continuing its climb out of the financial crisis that began a couple of years ago. With the strong finish to last year, the stage is set for another good year – and we could see the S&P 500 grow another 7% to 10% over the next twelve months.
That said, the corporate earnings may look like they've slowed. That's because of the way that experts compare year-over-year earnings. For example, corporate earnings showed strong improvement coming out of the recession because they were compared to the extreme lows of the year before. However after a strong 2010, the increase in earnings won't be nearly as dramatic. So while the year-over-year increase may appear to flatten out, the important thing to focus on is that corporate earnings should show solid, steady improvement.
The segments of the market that can look for a strong showing in 2011 include energy stocks, global companies that specialize in high-tech equipment, and even steel producers which should benefit from global sales. Those segments should benefit from strong business spending around the world as the economy improves and companies start to reinvest and expand.
The big economic picture is important, but millions of Americans are really focused on the labor market. Will they find a job? Will they keep their job? Those are some of the most important questions families face. And the good news is that for many families the outlook should be better in 2011.
Here's why. The good news for the overall economy and for corporate earnings in 2010 and heading into 2011 should help the labor market improve. Let's look at two of the factors that should influence employment in the coming months.
First, many companies have seen higher earnings over the last year but those earnings haven't translated into more hiring. Instead, companies have been cautiously waiting for signs that the economy was stable – after all, we heard a lot of talk in the past about the possibility of a double-dip recession. In other words, full-time employment was held back by insecurity and fears of the future. Now that most economic reports appear to be on a steady climb out of the recession and confidence is increasing, many companies will be more willing to hire.
Second, during the last couple of years, companies were trying to keep their operations lean and efficient. That means that manufacturing companies worked hard to get the highest level of production possible out of their current work forces or by only hiring temporary or part-time employees. While that may have been a good move when the economy was questionable, it means that production has hit a ceiling.
But now that many retail companies are beginning to restock their shelves, manufacturing companies are seeing higher demand for their products. In order to satisfy that demand and increase manufacturing production, companies will need more people on the factory floor to satisfy demand, which will lead to an uptick in full-time employment.
Based on those factors, watch for the labor market to continue looking better in the coming months, with more noticeable improvements coming in the latter part of the year.
Unfortunately, we're not completely out of the woods yet in terms of the overall unemployment rate. While hiring will pick up, we need to see a net growth of 200,000 jobs each month just to absorb all of the new people entering the job market – and that's just to hold steady, so we'll need to see even better numbers for the unemployment rate to actually drop. Based on that, we won't see a noticeable drop in the unemployment rate until some time in 2012…and even then it will take a handful of years to bring us back to the lower unemployment rates seen before the recession.
The point is the job market is a work in progress and will take some time, but we will see hiring improve in the coming months – and that should help ease the burden for millions of Americans.
Although people tend to talk about the economy, the stock market, and employment separately in the news, the reality is they're all related. For example, an improving economy leads to better corporate earnings and increased manufacturing demand, which in turn leads to increased hiring.
In addition, all of the aspects discussed above influence the housing market and home loan rates. One of the biggest influences is employment, so improvements in employment will be good for the housing industry. After all, people who are unemployed, under-employed, or are afraid of losing their jobs are less likely to purchase a new home.
In terms of home prices, a more secure employment market can help home prices stabilize, as fewer people are at risk of losing their homes to foreclosure. In addition, as we'll discuss next month, the improvements in the labor market should open the door for more first-time homebuyers to join the ranks of homeowners.
That said, it's important to remember that all real estate markets are local…and that means that there can be enormous variations across the country. In areas where employment is struggling, the housing market will continue to struggle as well. However, in many parts of the country where the bottom has been tested and employment is improving, we'll see the housing market on the mend...
With companies creating apps for just about everything, we thought we would let you know that the Denver MLS idx search on www.Denver-HomesOnline.com works pretty well on mobile devices without an app. The website is pretty new, and we're going to continue to upgrade and improve, and we're looking at creating a special search page just for mobile devices. In the meantime, check out our search page on your iPhone or Android device, and let us know how it works, or try the QuickSearch feature on our sister-site, www.BuildingStapleton.com.
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303.320.1556