Seeking prosperity
By Rhonda Moore
Published: 03.19.09
When the business of making money gets rough, it’s time for businesses small and large to pony up. That is the word from Joey Edge, owner of Edge Commercial Properties, which April 3 joins the business-to-business support network at work in Castle Rock with its inaugural business resource fair.The fair is titled Thriving in a Tough Market, reflecting a trial familiar to most businesses in and around the Castle Rock area. While many might see a recession economy as a time to withdraw, Edge sees it instead as an opportunity to make the necessary adjustments and step up the game.With the help of local companies that include a marketing expert, business coach and technology specialist, Edge aims to help those business owners whose goal is to rise to the challenge.“When we go through these times in our markets and lives it’s time to get better and refine what we do,” Edge said. “It’s a time to look for new opportunities. These times motivate us to use that creative energy to redesign the way you’re doing things and look at things differently.”
Edge saw things differently with the help of a freshman broker who recently joined his firm. Heather Taylor formerly wrote business plans for prospective borrowers and in December 2008 obtained her broker’s license. Despite the decline in the market, she chose real estate for the opportunity to help people strengthen their businesses.A free business fair to support area businesses seemed an ideal way to combine efforts with others who share a similar ideal.“I’ve just seen there are a lot of people out there, individuals with great ideas and a drive to do this,” she said. “Our main goal is to bring businesses together with different resources.”Among the interested businesses is the event’s sponsor, QeH2 Business Intelligence. With a name that combines the initials of its primary owners, the information technology specialists are led by a man with a history of his own.Darrin Eisele started out in business as the single employee of a company that stocked convenience stores with sunglasses, toys and novelty items. By the time his company was 12 years old, he employed 300 people who serviced 14,000 stores. The operation had $60 million in sales the year before it sold, he said.Eisele sold his company in 2004 to McLane Co., a subsidiary of Berkshire Hathaway, which is owned by Warren Buffet, he said.Eisele started QeH2 three years ago, offering small and mid-sized companies a service that might otherwise be of reach. The business intelligence group is a clearing house of technology services that include web marketing and design, inventory management systems and network administration.Offering an information technology package under one umbrella enables even the smallest companies to harness a commodity most cannot afford, he said. With years of business experience behind him, he additionally understands the bottom line in ways rarely seen among most information technology support staff.“When you’re a business owner, you do it the way you think is right and sometimes it works and sometimes it doesn’t,” Eisele said. “We took all those years of growth and experience and said we’d love to help companies learn from what we did — so the small business owner doesn’t have to learn it the hard way, like we did. We help them use information and technology to grow their business.”Eisele will be joined at the business fair by action and business coach Michael Feinner, credit coach Steve Hensley, the Castle Rock Chamber of Commerce and the Castle Rock Economic Development Company. They are among a host of businesses that will offer advice and lectures throughout the day.Thriving in a Tough Market is from noon to 4 p.m., April 3 at Edge Commercial, 810 New Memphis Court, in Castle Rock. The event is free of charge and open to the public.
Thursday, April 2, 2009
Saturday, March 28, 2009
West Left out of Housing Surge-Except Colorado
West left out of housing surge — except Colo.
By Martin CrutsingerThe Associated Press
WASHINGTON — Housing construction posted a surprisingly large increase in February, bolstered by strength in all parts of the country except the West.
While the surge in construction was far better than the continued decline economists had expected, experts viewed the rebound as a temporary gain given all the problems the housing industry still faces.
The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent in February compared with January, pushing total activity to a seasonally adjusted annual rate of 583,000 units.
Roger Reinhardt, executive vice president of the Home Builders Association of Metro Denver, was more optimistic. He said the national increase may signal that the market is at the bottom.
"Builders haven't just built for the sake of building," he said. "They really have built to meet the market. If we're up 22 percent in entry-level homes, that's an industry getting ready to meet the market."
And that's likely a market targeting first-time homebuyers who can take advantage of an $8,000 tax credit included in President Barack Obama's housing-rescue plan.
In Denver, there's about a 2.7-month inventory of new homes based on the current sales rate, but the inventory of homes priced at more than $600,000, particularly in Doug las County, is higher.
Reinhardt also said Colorado can't be lumped in with other Western states that reported a decline.
"We're not overbuilt like some of the other markets," he said. "We have managed our building cycles quite well here."
Jim Riley, president of Castle Rock Development, said sales at the Meadows in Castle Rock are up 58 percent over November and December.
"We are definitely down from a year ago, but we're hoping the trend is continuing up," he said. "We have seen our traffic numbers pick up."
Denver Post staff writer Margaret Jackson contributed to this report
By Martin CrutsingerThe Associated Press
WASHINGTON — Housing construction posted a surprisingly large increase in February, bolstered by strength in all parts of the country except the West.
While the surge in construction was far better than the continued decline economists had expected, experts viewed the rebound as a temporary gain given all the problems the housing industry still faces.
The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent in February compared with January, pushing total activity to a seasonally adjusted annual rate of 583,000 units.
Roger Reinhardt, executive vice president of the Home Builders Association of Metro Denver, was more optimistic. He said the national increase may signal that the market is at the bottom.
"Builders haven't just built for the sake of building," he said. "They really have built to meet the market. If we're up 22 percent in entry-level homes, that's an industry getting ready to meet the market."
And that's likely a market targeting first-time homebuyers who can take advantage of an $8,000 tax credit included in President Barack Obama's housing-rescue plan.
In Denver, there's about a 2.7-month inventory of new homes based on the current sales rate, but the inventory of homes priced at more than $600,000, particularly in Doug las County, is higher.
Reinhardt also said Colorado can't be lumped in with other Western states that reported a decline.
"We're not overbuilt like some of the other markets," he said. "We have managed our building cycles quite well here."
Jim Riley, president of Castle Rock Development, said sales at the Meadows in Castle Rock are up 58 percent over November and December.
"We are definitely down from a year ago, but we're hoping the trend is continuing up," he said. "We have seen our traffic numbers pick up."
Denver Post staff writer Margaret Jackson contributed to this report
Friday, March 27, 2009
February Sales Statistics
These are the latest sales statistics for all Residential Sales for month of February. Each graph is broken down by region. The areas are Douglas County West, Eastern Douglas County including Parker and Franktown and Elbert County, Douglas County Highlands Ranch and Lonetree Areas. The last graph includes all areas combined. This is not great news to report
however inventory levels have stabilized.
Capitol Connection -This Week in the Legislature
This Week in the Legislature
The legislature is anxiously awaiting the state’s annual budget legislation, commonly referred to as the Long Bill. The legislation has been delayed while legislators assess the recently released economic forecast.
While the legislature is focusing on the Long Bill and preparing to head into the final stretch of this year’s session, which is scheduled to adjourn May 6th, here is a recap of a few bills of interest to REALTORS® thus far:
March
Carbon Monoxide Bill Signed into LawGovernor Ritter signed HB 1091 into law earlier this week. The new law will cover all new residential construction and existing single-family and multi-family housing units offered for sale, transfer or rent.
Beginning July 1, 2009, a seller of residential real property containing a fuel-fired heater or appliance, a fireplace, or an attached garage will be responsible for assuring that a carbon monoxide alarm is properly installed within 15 feet of the entrance to each room lawfully used for sleeping. No person shall have a claim for relief against a property owner or their authorized agent if a carbon monoxide alarm is installed in accordance with the manufacturer’s published instructions.
In January, CAR Legislative Policy Committee Vice-Chair, Sunny Banka, testified to urge lawmakers’ support of amendments related to REALTOR® liability, sellers' duties, and adequate notification. CAR President Amy Dorsey, Education Foundation Chair Fran Krumpholz, and CEO Bob Golden participated in the signing ceremony on Tuesday.
View 1091 Information Sheet
CAR Weighs in on Energy Disclosure Mandate
As introduced, HB 1247 stated that a seller must provide the buyer with 12 months of energy billing and usage history for the property within 5 days of the property being sold. In February, CAR launched a statewide Call for Action in opposition of the bill unless it was amended to reflect that a seller was only to provide the information upon a buyer’s request.
HB 1247 was partially amended to include the favorable language, but was “postponed indefinitely” on March 19th, in light of our outstanding concerns, rendering the bill dead.
CAR expressed concern that HB 1247 would have created an unnecessary mandate on an already common practice among REALTORS® and may have left buyers with a false sense of assurance relating to the home’s energy usage. Over 1200 REALTORS® participated in the initial Call for Action.
February
CAR Helps Defeat Local Impact Fee Legislation
HB 1259 – Concerning the Imposition of Impact Fees by Local Governments for Certain Authorized Local Purposes –would have expanded the authority of a local government to charge impact fees on new development within its jurisdiction, including fees on behalf of a school district or other special district. Additionally, the bill sought to remove language which stipulates that the fees must be "directly" related to the proposed development and replace it with "reasonably" related.
CAR opposed the legislation on the basis that it would have increased uncertainty throughout the development process - a special thank you to Bonnie Arnold of the Summit Association of REALTORS® and Jack Fox, CAR Government Affairs Division VP, for expressing our concerns before the House Finance Committee and helping to defeat this anti-growth legislation.
CAR Works to Limit Real Estate License Fee Increases
In November of 2008, the Colorado Division of Real Estate (DRE) doubled many of its license fees and quadrupled one. Although CAR believes that maintaining an active, well-funded and efficient DRE is essential to protect the public interest, REALTORS® deserve adequate notification and the proper justification when new fee increases are proposed.
As introduced, SB 28 sought to limit the increase in real estate license fees to no more than 20% annually and no more than 50% between sunset reviews of the Division or in a 10-year period, whichever is greater. Additionally, the bill would have required the DRE to provide REALTORS® with adequate notification and justification if necessary.
CAR worked diligently to pass the bill. CAR President Amy Dorsey testified before the Senate State Affairs Committee. Although the bill was eventually defeated, CAR had the opportunity to tell our story and promote REALTOR® interests. The Association knew this would be a tough fight and will continue its involvement in the direction and activities of the Colorado Real Estate Division and Commission.
Rent Control Bill Dies
HB 1138 – Concerning Property Interest and Limit on Rent Control – would have created additional loopholes in providing counties, local municipalities, and housing authorities the discretion to contract with property owners in their jurisdictions through deed restrictions, covenants and similar instruments. The bill died in the House Local Government Committee.
January
Elections to Water Conservancy Districts
Current law states that local district judges appoint members to Water Conservancy District (WCD) Boards of Directors, with a provision for petitioned elections under certain circumstances. It further requires that candidates demonstrate some knowledge of water law, and states that only property owners in WCDs are able to serve as Directors, to ensure a commitment to community good.
HB 1142 – Concerning the Election of a Director of a Water Conservancy District – would have permitted a reduction in the number of signatures necessary to trigger an election and eliminated the requirement that only owners of real property serve as Directors.
CAR opposed the legislation due to concerns related to election costs and because the risk of further politicizing Colorado water interests would adversely affect property rights and values, water conservation, and even our important tourism industry. HB 1142 died in Committee.
The legislature is anxiously awaiting the state’s annual budget legislation, commonly referred to as the Long Bill. The legislation has been delayed while legislators assess the recently released economic forecast.
While the legislature is focusing on the Long Bill and preparing to head into the final stretch of this year’s session, which is scheduled to adjourn May 6th, here is a recap of a few bills of interest to REALTORS® thus far:
March
Carbon Monoxide Bill Signed into LawGovernor Ritter signed HB 1091 into law earlier this week. The new law will cover all new residential construction and existing single-family and multi-family housing units offered for sale, transfer or rent.
Beginning July 1, 2009, a seller of residential real property containing a fuel-fired heater or appliance, a fireplace, or an attached garage will be responsible for assuring that a carbon monoxide alarm is properly installed within 15 feet of the entrance to each room lawfully used for sleeping. No person shall have a claim for relief against a property owner or their authorized agent if a carbon monoxide alarm is installed in accordance with the manufacturer’s published instructions.
In January, CAR Legislative Policy Committee Vice-Chair, Sunny Banka, testified to urge lawmakers’ support of amendments related to REALTOR® liability, sellers' duties, and adequate notification. CAR President Amy Dorsey, Education Foundation Chair Fran Krumpholz, and CEO Bob Golden participated in the signing ceremony on Tuesday.
View 1091 Information Sheet
CAR Weighs in on Energy Disclosure Mandate
As introduced, HB 1247 stated that a seller must provide the buyer with 12 months of energy billing and usage history for the property within 5 days of the property being sold. In February, CAR launched a statewide Call for Action in opposition of the bill unless it was amended to reflect that a seller was only to provide the information upon a buyer’s request.
HB 1247 was partially amended to include the favorable language, but was “postponed indefinitely” on March 19th, in light of our outstanding concerns, rendering the bill dead.
CAR expressed concern that HB 1247 would have created an unnecessary mandate on an already common practice among REALTORS® and may have left buyers with a false sense of assurance relating to the home’s energy usage. Over 1200 REALTORS® participated in the initial Call for Action.
February
CAR Helps Defeat Local Impact Fee Legislation
HB 1259 – Concerning the Imposition of Impact Fees by Local Governments for Certain Authorized Local Purposes –would have expanded the authority of a local government to charge impact fees on new development within its jurisdiction, including fees on behalf of a school district or other special district. Additionally, the bill sought to remove language which stipulates that the fees must be "directly" related to the proposed development and replace it with "reasonably" related.
CAR opposed the legislation on the basis that it would have increased uncertainty throughout the development process - a special thank you to Bonnie Arnold of the Summit Association of REALTORS® and Jack Fox, CAR Government Affairs Division VP, for expressing our concerns before the House Finance Committee and helping to defeat this anti-growth legislation.
CAR Works to Limit Real Estate License Fee Increases
In November of 2008, the Colorado Division of Real Estate (DRE) doubled many of its license fees and quadrupled one. Although CAR believes that maintaining an active, well-funded and efficient DRE is essential to protect the public interest, REALTORS® deserve adequate notification and the proper justification when new fee increases are proposed.
As introduced, SB 28 sought to limit the increase in real estate license fees to no more than 20% annually and no more than 50% between sunset reviews of the Division or in a 10-year period, whichever is greater. Additionally, the bill would have required the DRE to provide REALTORS® with adequate notification and justification if necessary.
CAR worked diligently to pass the bill. CAR President Amy Dorsey testified before the Senate State Affairs Committee. Although the bill was eventually defeated, CAR had the opportunity to tell our story and promote REALTOR® interests. The Association knew this would be a tough fight and will continue its involvement in the direction and activities of the Colorado Real Estate Division and Commission.
Rent Control Bill Dies
HB 1138 – Concerning Property Interest and Limit on Rent Control – would have created additional loopholes in providing counties, local municipalities, and housing authorities the discretion to contract with property owners in their jurisdictions through deed restrictions, covenants and similar instruments. The bill died in the House Local Government Committee.
January
Elections to Water Conservancy Districts
Current law states that local district judges appoint members to Water Conservancy District (WCD) Boards of Directors, with a provision for petitioned elections under certain circumstances. It further requires that candidates demonstrate some knowledge of water law, and states that only property owners in WCDs are able to serve as Directors, to ensure a commitment to community good.
HB 1142 – Concerning the Election of a Director of a Water Conservancy District – would have permitted a reduction in the number of signatures necessary to trigger an election and eliminated the requirement that only owners of real property serve as Directors.
CAR opposed the legislation due to concerns related to election costs and because the risk of further politicizing Colorado water interests would adversely affect property rights and values, water conservation, and even our important tourism industry. HB 1142 died in Committee.
Tuesday, March 24, 2009
Your House Payment Could Be Lower Than Your Lease Payment!
Financial independence, security and satisfaction...with all these
With every rent check you write, you’re helping to build equity in your landlord’s property. That money could be going toward building equity in a home of your own. Today’s rates are low enough that your house payment could be lower than your rent payment!
There are many advantages to owning a home, including:
Security - A feeling of security that comes from owning a home and the knowledge that your home is a safeguard against inflation.
Investment - Payments on your mortgage loan mean you are acquiring a major possession; instead of rent, you own more and more. The garden you plant, the permanent improvements you make - all enhance your way of living as well as the value of your home.
Tax Advantage - Your real estate taxes and the interest on your mortgage are deductible from your income tax.
Financial Independence - Most people start on the road to financial independence through home ownership. Your principal and interest payments remain the same for the full term of your mortgage while your rent usually goes up as the cost of living increases.
Environment - Your children grow up in the neighborhood of your choice.
Cash Equity - Better than a savings account, your home can appreciate to keep pace with inflation.
Satisfaction - Home ownership offers special advantages that make life more enjoyable - backyard barbecues, large family gatherings during holidays, a home workshop, a chance to enjoy your family’s companionship in the privacy of your own home.
With every rent check you write, you’re helping to build equity in your landlord’s property. That money could be going toward building equity in a home of your own. Today’s rates are low enough that your house payment could be lower than your rent payment!
There are many advantages to owning a home, including:
Security - A feeling of security that comes from owning a home and the knowledge that your home is a safeguard against inflation.
Investment - Payments on your mortgage loan mean you are acquiring a major possession; instead of rent, you own more and more. The garden you plant, the permanent improvements you make - all enhance your way of living as well as the value of your home.
Tax Advantage - Your real estate taxes and the interest on your mortgage are deductible from your income tax.
Financial Independence - Most people start on the road to financial independence through home ownership. Your principal and interest payments remain the same for the full term of your mortgage while your rent usually goes up as the cost of living increases.
Environment - Your children grow up in the neighborhood of your choice.
Cash Equity - Better than a savings account, your home can appreciate to keep pace with inflation.
Satisfaction - Home ownership offers special advantages that make life more enjoyable - backyard barbecues, large family gatherings during holidays, a home workshop, a chance to enjoy your family’s companionship in the privacy of your own home.
Interested in forclosures? Some things you should know.
Knowledge is Key
For some, the current increase in foreclosures means there’s an opportunity to purchase property at reduced prices. When entering into this type of real estate transaction, it’s critical to understand the market and to work with an expert who can help you navigate the process – an Edge Team Buyer Specialist.
To make finding these properties easier, your Edge Buyer specialist is updated weekly on the properties that are beginning the foreclosure process .
Things to Consider
Buying a property in foreclosure or a lender owned property is a different type of transaction. These types of sales can be more complex because the lender is intimately involved in the transaction – either acting with approval powers or as the owner / seller. As a result, these transactions can take more time than a traditional one and may require added patience from the buyer.
Properties in foreclosure represent an owner who has received an official notice of foreclosure from their lender. Once the foreclosure process is complete, the property becomes lender owned.
Each situation is unique and understanding the process and the market is critical. For example, because these properties may be previously owned by people experiencing financial difficulties, they may need updating and repairs that are sometimes significant. Or, there may be liens or back taxes due on the property. An Edge Team Specialist with experience in these types of transactions can help protect your interests.
Knowledge is power in this market. Familiarity with market conditions and thoroughly understanding the ins and outs of the foreclosure process are critical. Obtain the advice of an experienced Edge Team Buyer Specialist.
For some, the current increase in foreclosures means there’s an opportunity to purchase property at reduced prices. When entering into this type of real estate transaction, it’s critical to understand the market and to work with an expert who can help you navigate the process – an Edge Team Buyer Specialist.
To make finding these properties easier, your Edge Buyer specialist is updated weekly on the properties that are beginning the foreclosure process .
Things to Consider
Buying a property in foreclosure or a lender owned property is a different type of transaction. These types of sales can be more complex because the lender is intimately involved in the transaction – either acting with approval powers or as the owner / seller. As a result, these transactions can take more time than a traditional one and may require added patience from the buyer.
Properties in foreclosure represent an owner who has received an official notice of foreclosure from their lender. Once the foreclosure process is complete, the property becomes lender owned.
Each situation is unique and understanding the process and the market is critical. For example, because these properties may be previously owned by people experiencing financial difficulties, they may need updating and repairs that are sometimes significant. Or, there may be liens or back taxes due on the property. An Edge Team Specialist with experience in these types of transactions can help protect your interests.
Knowledge is power in this market. Familiarity with market conditions and thoroughly understanding the ins and outs of the foreclosure process are critical. Obtain the advice of an experienced Edge Team Buyer Specialist.
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