This past Saturday, May 12th 2012 from 10 a.m. to 4 p.m. was the 14th year of this spectacular fundraising event; initially started by Kentwood Real Estate’s own Carol Ihli with her neighbors in Wash Park and parents of student’s attending Steele Elementary and Crofton. (Who were a paired school in DPS.) The first poster was done by South High School Graduate Quan Ho, a renowned local artist.

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Housing inventory levels have been shrinking across the U.S., leading to bidding wars and modest upward pressure on prices in some areas. The data reinforces a notion already asserted by many economists, real estate agents, and investors that 2012 is the year of the bottom.

This spring the housing market is responding to an improving balance between real estate supply and demand which is causing stabilization in home prices, according to the chief economist for CoreLogic.

Economists are also saying that now is the time to buy a house. For those who are renting, it’s a good time to get back in the housing market with prices currently bottomed out and beginning to rise in some areas. It’s now cheaper to buy than rent, especially for those seeking Denver homes. The weight of the monthly mortgage bill is the lightest it’s been in decades. In fact, now is the best time to buy Denver real estate than at any time in the past 40 years.

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The forecast is based on an analysis of leading home price indexes. Investors will drive much of the momentum, as they are now in cities such as Las Vegas and Phoenix. First-time and trade-up buyers will eventually follow.

In other housing news, signed contracts to buy U.S. homes rose more than forecast in March as low interest rates drew buyers back into the market. The index of pending home purchases rose 4.1 to 101.4, the highest level since April 2010, according to the National Association of Realtors.

The median forecast of 43 economists surveyed by Bloomberg News called for a one percent rise in the measure, which tracts contracts on previously owned homes.

Economists are upping their forecasts for 2012, including some who closely watch the Denver real estate market and Colorado economy in general. The U.S. economy will grow faster than expected this year, despite the headwinds of higher gas prices and Europe’s financial crisis, according to a survey conducted by USA Today.

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While the latest monthly housing data have shown signs of a slight softening, NAHB Chief Economist David Crowe said this is more reflective of typical month-to-month volatility in the numbers and unusual seasonal factors than they are an indication of any significant downward trend in the broader housing market.

Pointing out that less volatile quarterly data have continued to show modest improvement in key housing indicators such as builder sentiment, new home sales and housing production, Crowe said the “housing outlook continues to slowly brighten.”

Crowe noted that numerous other fundamentals remain positive for housing at this time, including demographic factors (with pent-up household demand expected to ramp up and echo-boomers heading into their prime household formation ages), historically favorable mortgage rates that are not expected to move higher than five percent by the end of the next year, more than 100 local markets currently listed on the NAHB/First American Improving Markets Index, and the fact that house price-to-income ratio has now returned to its historical average of about three-to-one versus the nearly five-to-one to which it had previously risen during the height of the housing boom.

Denver real estate continues to improve as buyers take advantage of investment opportunities and low interest rates.

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Among all deals closed during the past 12 months, 30 percent were for premium homes valued at more than $1 million, the survey showed. Strong demand from China and other international buyers has boosted an otherwise challenging market.

Figures from the National Association of Realtors show that China has become the number two international investor in U.S. properties in terms of buyers at nine percent, after Canada’s 23 percent.

Source: USAchinadaily.com

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The Society of Colorado Pioneers, formed in 1866, wanted future generations to remember and celebrate their achievements. The state created the State Historical and Natural History Society in 1879 and gifted it $500 to collect and publicize Colorado’s heritage. The society eventually found office and exhibit space in the basement of Colorado’s capitol.

During its first years, the museum attracted 60,000 visitors a year to view mummies from Mesa Verde and other artifacts. To house Colorado’s oldest major cultural institution, which rebranded itself in 2009 as History Colorado, Denver architect David Owen Tryba designed a spectacular new stone landmark at 1200 Broadway.

The skylighted four-story atrium shines on a huge floor map of Colorado that is truly spectacular. Exhibits range from a virtual ski jump to a Model T Ford, and the 1860 Denver diorama is scheduled for a reincarnation in the lobby with the second stage of new exhibit openings.

For more information on the museum’s opening, visit HistoryColorado.org.

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The Market Composite Index, a measure of mortgage loan application volume, increased 6.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index increased 6.5 percent compared with the previous week. The refinance index increased 13.5 percent from the previous week. The seasonally adjusted purchase index decreased 11.2 percent from one week earlier. The unadjusted purchase index decreased 10.4 percent compared with the previous week and was 13.9 percent lower than the same week one year ago.

The four week moving average for the seasonally adjusted market index is up 1.60 percent. The four week moving average is down 0.52 percent for the seasonally adjusted purchase index, while this average is up 2.36 percent for the refinance index.

The refinance share of mortgage activity increased to 75.2 percent of total applications from 70.5 percent the previous week. The adjustable-rate mortgage share of activity decreased to 5.3 percent from 5.5 percent of total applications from the previous week.

For more information on mortgage loans for Denver Real Estate, including refinancing your existing home or when purchasing a new Denver home, contact a Kentwood Real Estate professional by visiting www.DenverRealEstate.com.

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NAR’s 2012 Investment and Vacation Home Buyers Survey, which covers existing and new-home transactions in 2011, shows investment home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

Vacation home sales accounted for 11 percent of all transactions last year, up from 10 percent in 2010, while the portion of investment sales jumped to 27 percent in 2011 from 17 percent in 2010.

A spokesperson for the NAR said investors with cash took advantage of market conditions in 2011 and swept up homes at bargain prices. Rising rental income easily beat cash sitting in banks as an added inducement. In addition, 41 percent of investment buyers purchased more than one property, according to the NAR.

The median investment home price was $100,000 in 2011, up 6.4 percent in 2010, while the median vacation home price was $121,300, down 19.1 percent from 2010.

Investment home buyers in 2011 had a median age of 50, earned $86,100 and bought a home that was relatively close to their primary residence…a median distance of 25 miles, although 30 percent were more than 100 miles away.

The NAR’s survey can be ordered by calling 800-874-6500 or online at www.realtor.org/prodser.nsf/Research.

For those seeking investment and/or vacation homes in Colorado and elsewhere around the country, contact Kentwood Real Estate online at www.DenverRealEstate.com to find a full range of Denver real estate in a variety of price ranges. Your Kentwood agent can find Denver homes or mountain property that fulfills your needs and desires.

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Are people addicted to their cell phones, and are you among them? Do you control your phone or does your phone control you?

This question was posed recently by Chris Smith in an article posted on inman.com. Smith, the Chief Evangelist for Inman News, admits that his phone was doing more harm than good, so he did something about it.

First, he used a service that makes mass unsubscribing from marketing emails quick and easy. He also deleted two personal email accounts from his phone and kept only his work email. He then kept the apps he uses daily on his home screen and put everything else in folders in order to stop “app-hoarding” issues. Smith notes, however, that eliminating notifications can be challenging.

The end result of Smith’s efforts was improved focus, improved work-life balance, and better overall quality of work.

Several people responded to Smith’s article. Some admitted that they have a problem and are taking steps to correct their phone addiction. Some got rid of their smartphone and went back to a regular cell phone.

The Inman article also included some very interesting statistics. For example, 83 percent of people own mobile phones and 35 percent own smartphones. Five of 10 people confessed to being addicted to their mobile phones. The most common use on mobile phones was sending text messages at 73 percent.

Here are more statistics: 70 percent would rather give up alcohol for a week rather than their cell phone; 63 percent chocolate; and 33 percent sex. Eighty-three percent of people sleep with their phones by their bedside. Forty-seven percent of teens say their social life would end without text messaging.

Are you among the addicted? Check out this article. It may help you make changes that will have a positive impact on your life.

http://next.inman.com/2012/03/do-you-control-your-phone-or-does-your-phone-control-you/

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The firm is still forecasting a slow recovery, projecting home prices to gain 2.8 percent in 2014, which is below its prior estimate of 8.1 percent. The prediction for 2020 remains much the same, with prices recovering by 42 percent.

Inventory dropped sharply in the second half of last year, according to the firm’s research, and expects lower inventory numbers than previously thought. Also, recent trends of higher job creation and record-low mortgage rates, further support the case that housing is undervalued.

Some industry watchers are not optimistic because the market faces continued headwinds. Foreclosures remain a stubborn issue, while lending standards remain strict for many would-be buyers. The rental market poses stiff competition, while many consumers remain too afraid to buy homes.

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