For the past ten years I (Dan) and my wife Jennifer have been gathering bags full of clothes, food, and other necessities to give to the homeless. Right around this time of year we ask our clients, staff, business associates, friends and family to help us by donating items that we can pack into Christmas bags. Then on the first Saturday of December our family plus the staff from our two businesses go to the rescue mission in Denver to hand out the bags. This year we will again be giving to the homeless although we have changed our format somewhat. Instead of gathering items and giving out bags we decided to accept donations and turn that into MacDonald’s gift certificates. We want to see how many people we can feed this year giving each person a $10 gift certificate. We believe the homeless will be much happier with the gift of getting $10 dollars worth of food. If you want to donate as always I can provide you a donation receipt for your tax records which is deductible since we conduct this event through our 501c3 charity Agape Ranch, Inc. Please let me know if you would like to participate before December 4th. On December 5th will be visiting the homeless outside the rescue mission down town. Finally if you believe in this event and want to share the news with friends, colleagues or family please feel free to copy and paste this information into an email to pass along. Thank you for your consideration and generosity in the past we sincerely appreciate it.

Sincerely,

Colorado Realtors Dan Polimino, Gary Lohrman and Mortgage Lender Andy Jorgensen are at it again.

This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.

Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.

Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream home.” It’s no gimmick and there are no tricks.

Dan, Gary and Andy have been so successful with their website helping people buy their first home and get an $8,000 dollar tax so they decided to celebrate. Why celebrate because the government extended the tax credit to April 30, 2010 and created a tax credit for non first time home buyers. Check out the information about the $6500 tax credit for everyone at www.firsttimehomebuyerdenverco.com and www.taxcreditforeveryone.com .

As always if there is anything Dan, Andy or Gary can do for you in the home buying or selling process don’t hesitate to contact them. Their contact information is on the site.

Fuller Sotheby’s agent Dan Polimino talks about how the tax credit extension has the phone ringing and people buying homes in Denver Colorado. He also talks about what it means for future buyers and seller. Finally he tackles the outlook over the final six weeks of the year.

Check out the video at http://www.youtube.com/watch?v=m0iE71AsHOo

I am sure by now that you saw the news from two weeks ago about the first-time home buyers’ tax credit being extended through April 30, 2010 and Congress creating a new credit for people other than first-time home buyers.

This was one of the best scenarios we could hope for. The only way that this could have been better is if it was a $15,000 tax credit for first-time buyers and everyone else, but we’ll take what they passed. More importantly, there are several reasons why this will continue to help the housing market and the economy overall.

First, you have seen me write this before the first $8,000 tax credit really did work. It got people off their couch, in the market, sold homes, put people to work, and stimulated the economy. Second, as I have said before, this crisis started with housing and housing will lead the way in turning the economy around. That’s why this critical legislation needs to be extended. It had a proven track record of success and will continue to benefit the country.

The $6500 tax credit for everyone else is also a strong move to get more people to buy homes. There are some preconditions here like you must have lived in your current home for at least five years before you can upgrade and cash in on the $6500. There are also some income limitations to be eligible for the tax credit, but overall, the incentive will bring more buyers into the market. (To find out all the fine details about the tax credit go to www.firsttimehomebuyerdenverco.com.)

Finally, there are a lot of reasons to buy a home right now: historically low housing prices, low interest rates, plenty of selection, motivated sellers, and cash incentives from the government. It’s almost the perfect storm for buyers. I say “almost” because the one piece of the puzzle that still needs to come around is the loosening of credit for buyers. We need to put pressure on Washington to get the banks to lend out more money with more favorable conditions.

On Wednesday, Move.com, the company that also owns the more popular Realtor.com, published a survey they conducted forecasting home buying in 2010. According to Move.com one in 20 Americans say they plan on buying a home within the coming year. While that doesn’t seem like a lot of people the most interesting part of the data are the demographics. The people most likely to buy will have a median age of 34 or younger and will be living in the South and West according to the survey.

If that’s true it bodes well for Colorado. Denver has been one of the first cities to lead the charge out of the housing slump. Denver also has continued to grow through this recession because it’s an attractive place to live and work. Young people flock to Denver because of jobs, lifestyle and climate. Corporations are relocating their headquarters here or building new facilities and along with that come new young workers.

According to the survey, roughly one quarter of all potential buyers said the number one reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes. Now let’s take that data and see how it applies in our local market. Again that fits in perfectly with what Denver has to offer and what we are hearing from buyers. With the exception of the luxury market home prices bottomed out earlier this year and now are headed up. The buyers we are working with know that foreclosures are harder to come by, they don’t seem motivated by interest rates and the inventory has not been historically high in Denver since 2006.

Of course this is just one survey, but it is encouraging for Denver and its surrounding suburbs. There is no question that if the recovery continues Denver is poised perfectly to appeal to what buyers want and where they want it.

Wall Street has seen 10,000 on the big board a couple of time over the last week which has led many people to believe the economic recovery is here. I am not so sure that it is and here’s why.

By all measuring sticks there is no foundational basis for the stock market to be at 10,000 it’s all based on speculation. Think about it, has the job report boosted investor confidence? I think not. The unemployment rates goes up every month and every quarter. Has consumer spending or retail sales fueled the run up in the market? Again that would be a big “NO”. Has foreclosures been on the decrease? No they are on the increase. The only reason I can see that investors have come back into the market is speculation. They believed that the market was as low as it was going to get and they feared they should buy soon to capitalize on a run up in value. So what’s the problem with that? It’s kind of like a house built on cards, not very stable and could collapse at any time. Don’t get me wrong it’s good that people are no longer losing money, their retirement, their life savings and companies are worth something again. I just think its pre mature to say the stock market is up and the recovery is here.

I think the real recovery rests solely on job, job, and jobs. It’s not going to be enough to slow down unemployment we need to reverse unemployment. People have to stop losing their job and companies need to start hiring again in mass and I am not just talking about the big boys. People need to start small businesses, get loans to start businesses and small business needs to expand and hire people. Consumer spending needs to be on the increase for more than one quarter along with consumer confidence. When these things happen the recovery will be here, it will be stable and it will be sustained.

Fuller Sotheby's agent Dan Polimino talks about who is eligible for the new tax credit that congress passed on November 6th. There is a an extension for first time home buyers until April 30th to claim an $8,000 refund check and there is a $6500 dollar tax credit for people who have lived in their home at least five years.

Check out the video at http://www.youtube.com/watch?v=fiJD2Ag8fBM

There is now a tax credit for everyone and an extension for first time home buyers!

Today is GOOD NEWS for those of you thinking about buying a home or a first home.  The House and Senate have finalized a version of the tax credit extension for first time buyers and created a credit for all buyers. The current proposal will extend the current $8000 first time home buyer tax credit that expires on November 30, 2009 to April 30, 2010.   In addition, there will be a clause that allows you to close beyond that point (to June 30, 2010) provided you are under contract by April 30^th.  The House and Senate are also expanding the tax credit not to just first time home buyers. Existing homeowners looking to “move up” from their current property can receive up to a $6500 tax credit incentive.  There are certain guidelines that must be followed.  Feel free to contact us directly for this information.             

So you folks that have procrastinated  about  getting your finances in order, improving your credit scores, getting pre-qualified, saving for a down payment, talking to a lender or real estate agent, or just had a tough time finding a property this is your golden opportunity. For those of you who want to move up and buy a new home this is great news and a great deal. Housing prices are low, interest rates are low and now you get money from the government for buying a home.  Don’t let this one slip away.

Visit http://www.firsttimehomebuyerdenverco.com for more information and your chance to win $250,000 dollars toward your next home. Feel free to contact Dan, Andy or Gary to get started today moving into a new home.

Sincerely,

Fuller Sothebys Agent Dan Polimino talks about the recent decision in Congress to extend the first time home buyers tax credit. Dan says it's good for everyone, but don't get too excited because it's not a done deal yet.

Check out the video at http://www.youtube.com/watch?v=Tq9UYoQ3NpE

A husband and wife are on vacation, the husband says to the wife, “Hey, what do you think about maybe making an on offer on that home we saw three months ago?” The wife says, “Yeah, I kinda liked it. Let’s call our realtor and take another look when we get back home.”

The nice couple gets back home, takes another look at the home for sale and decides to wait until spring before they make a move and buy a new home.

This scenario is being played out day after day, all over the country, and all over Colorado. I call it “people who decided not to decide.” You see in today’s environment that there are people who want to buy and can buy, but they are paralyzed by indecision and fear. Mostly, fear of the unknown. “Did they buy too soon, did they pay too much, did they get a good deal, was there a better home for less money on the market, and will the value of the home drop after they buy it?” Sometimes, when buyers get out of my car and get into their car, you can almost hear the sigh of relief. It’s as if the husband looks at the wife and she leans over to say, “Thank god we didn’t have to make a decision today.” This begs the question, “Why are they looking in the first place if they don’t want to make a decision?” The answer circles back around to fear. They’re afraid that they’ll miss out, miss the bottom of the market, and miss out on an opportunity.

As a realtor, I understand their strategy of not making a decision. In most cases, their reasoning is sound. Let’s use the luxury market as an example. There is a lot of inventory on the market, they looked at that home three months ago and it’s still on the market. Chances are, next spring that home will continue to be on the market so in their world, there is absolutely no reason to rush, to be in a hurry, and make an offer. In other words, there is no reason for urgency.

NO REASON FOR URGENCY. Those four words sum up the majority of the housing problems. How do you create urgency in a market that has no urgency? My business partners and I are working on a few different business models to solve just this problem, but rest assured that until you solve it, we’ll keep reliving the same story of the nice couple who want to wait for another day to buy a home.

Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado.

Check out the video at http://www.youtube.com/watch?v=hPi6Aj4p4Ho

You know how this goes. You are at an event or party and someone asks you, “So, what do you do?” I answer, “I am a realtor.” After that bad look like someone just stepped on their toe leaves their face, they immediately ask you, “How is the market?”

I get these questions about four or five times per week so I am pretty adept at answering with extreme precision. So you may be wondering “How is the market?”

Answer: I am more optimistic than I have been in a long, long time and this isn’t just realtor speak. Here’s what I saw over the spring, summer, and fall selling seasons in Denver.

The $8,000 first-time home buyer stimulus did work and people took advantage of the opportunity. Homes in the 250K price range and below sold, many were sold at full price and inventory is low in this bandwidth. Overall, it was a good season for buyers and sellers in the lower price ranges.

The good news has started to creep up to the mid-level price ranges but not as fast as everyone had hoped. Yes, deals are getting done in the 400K, 500K, and 600K price ranges, but not at the pace everyone would enjoy or benefit from.

The biggest news is the activity in the 800K to 1.2 million dollar bandwidth. We not only saw a lot of showings in the last six months, but we saw more people than I expected pulling the trigger, making offers, and closing on homes. I think that this was attributed to several factors. First, buyers realized that there was an excellent opportunity here with a large number of homes available on the market and at rock bottom prices. Some sellers got smart, listened to the market, priced their homes accordingly, and sold them.

I have been saying for some time clearly there is pent-up demand building from buyers to get into the market. These people want to buy and can buy, but they just aren’t sure when is the appropriate time to jump in. Given the market news above, maybe that time is now or is fast approaching.

Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado. This week Dan says the first time home buyer frenzy is on. Sellers and buyers are moving fast before the November 30th deadline.

Check out the video at http://www.youtube.com/watch?v=IZ5y9V4bxic

Ok, for the last several years, you have been hearing about real estate being marketed via social media, blogging, video web portals, and syndication. You know it exists, you know people are doing it, but you’re unsure whether or not it produces results.

The answer is yes, it can produce results, but are there some rules for doing it right and doing it well?

1. Blogging – this is writing about a home, area, neighborhood, or agent services. Three simples rules for blogging with effectiveness:

a. You must do it at least three times a week, anything less will not produce results so don’t bother.

b. Its best if it is an original content not copied or linked from another site.

c. You must set up an effective network of places to post your information like other blogs, RSS feeds, and real estate web portals.

2. Social media – yes, you should talk about homes for sale on social networking sites. If you had a home for sale, you would tell all your friends about it. That’s called word of mouth. Putting this same information all over social networking sites is no different; it’s spreading the news to many more people much more quickly. Three simple rules here:

a. Be careful not to post the same information too much every week. Telling your friends three times a week you that need to sell your home will get you knocked off their friends list.

b. Make sure that you include a link back to a website where people can get more information.

c. Again, make sure that you have set up a network and are utilizing as many social sites as possible.

3. Syndication - this is a process of taking listing information and placing it all over internet real estate related websites. Two simple rules here:

a. Make sure that you know where that information is being placed.

b. Make sure that you check it often to ensure that it’s being displayed correctly.

Finally, it is imperative that if you decide to market on the internet, you stay married to the process. Trying this stuff for a month and hoping for results won’t work. You must be faithful to all of these practices day in and day out for at least a year to two years to see results.

This incredible custom home combines the charm of Observatory Park with luxury living. This 5 bedroom, 7 bathroom home with a fully finished basement boasts almost 5400 finished square feet.

The home has been designed with impeccable detail and attention to the finest materials. Finishes include Brazilian Cherry wood floors, Cherry Cabinets, Cherry plantation shutters, hand trowel walls and extensive use of clear Alder for the doors and paneling. Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a showing of this property at 2412 S Josephine St Denver, CO 80210.

Take the virtual tour at http://www.wellcomemat.com/video/FB807ACD40

Fuller Sotheby's agent Dan Polimino talks about this weeks market update for Denver Colorado. Dan addresses the problem of appraisals and how sellers can avoid getting caught in the trap of their home not appraising for asking price.

This beautiful home features an abundance of architectural detail. Art niches, built-ins, and dramatic arches evoke European craftsmanship throughout this 6 bedroom, 6 ½ bathroom masterwork. The freshly completed low maintenance deck features lush views of Glenmoor golf course. Classic brick and stucco finish, new Milgard windows and doors throughout, and a 4-car garage make this showcase a joy to live in.  

Call Dan Polimino 303-522-1161 or Gary Lorhman at 303-829-5900 for a showing of this property at 37 Glenmoor Dr Cherry Hills Village, CO 80113.

Take the video tour at http://www.wellcomemat.com/video/DC7679F4EA

Last week, we began to take a look at a hot topic these days in real estate and that’s appraisals. We are seeing more and more people making solid offers on homes only to find out two weeks later that it did not appraise for the asking price. There are many reasons for this and if you would like to re-read part one of this series, you can, at www.coloradodreamhouse.com/denverpost

Last week, we spent a fair amount of time talking about what buyers can do to protect themselves in the asking price versus appraised price dilemma. This week, I want to pass along some information for sellers to protect their homes from appraising well below the asking price.

Tip #1) Understand and be realistic about what is the market value of your home. I know what you want to sell it for, but remember, there must be comparables in your market to justify it.

Tip #2) Don’t look at comps that go back farther than 6 months. In a rapidly changing market, appraisers are going to be first looking at sold comparables in the last three months and properties that are under contract. Looking at comparables from 12 months ago is an extinct barometer.

My business partner, Gary Lorhman, and I started a policy in the beginning of May when the new Home Valuation Code of Conduct rules came down from Fannie May and Freddie Mac. We simply made a decision to meet the appraiser representing the buyer at every one of our listings that was under contract. At that meeting, we would greet the appraiser, tell them about the special features of the home and hand them the comparables which we used to price the home. That’s it, no more and no less. To date, our system has worked 100 percent. Every one of our properties that we have sold on behalf of our clients has appraised for the sale price. It’s important to point out to people that HVCC does not prohibit a realtor from speaking to an appraiser and providing information on comparables. I’ve found that sellers and agents have been scared into thinking that a conversation with an appraiser would land them in the big house. Not true, so be smart, price it right, and make your homework available to appraisers.

The 4 bedroom, 3 bath boasts over 4100 finished square feet and over 5800 total square feet. The huge gourmet kitchen with cherry cabinets and granite island opens to a spacious family room with a fireplace. The sliding glass doors lead out to your professionally landscaped yard with your own coy pond waterfall and stream. A separate dining room is perfect for entertaining a large group as is the enormous living room. The main floor has a combination of hardwood floors and tile with a spacious floor plan. The study is a perfect comfortable home office. The master suite is the jewel of the upper level providing more than enough space for a sitting area and of course the beautifully adorned private master bath. The three second floor secondary bedrooms are large providing plenty of room for kids to enjoy. All the bathrooms have been finished with granite countertops. The home is immaculate and in move in condition.

Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.

Built in 1983 the 9000 square foot Spanish style Villa was built for the Maytag family. They were so concerned with building the highest quality home that they commissioned Gerald H Phipps commercial contractors to build their Colorado getaway. At the time the family spared no expense and gave architects a free hand in designing an authentic turn of the century Spanish villa. By the end, the project cost 2.5 million in construction which was an incredible amount of money in 1983.The current owners purchased the property from the Maytag’s 10 years ago and since then have refined the property to make it the epitome of elegance and design you see today.

The Villa sits on 227 pristine acres. The land has a little of bit of everything with forested hills, open meadows, and gorgeous rock outcroppings. There are extensive views of majestic snow capped peaks, peaceful valleys and the near town of Castle Rock. It’s perfect for a private barn, equestrian center, corrals or just incredible hiking and sightseeing.

Call Dan Polimino 303-522-1161 or Gary Lorhman 303-829-5900 for a showing of this property at 333 Faraway Place, Castle Rock, CO.