Polimino: Seller's market over

On InsideRealEstateNews this week, Dan Polimino swears that the seller's market in Colorado is over.

Polimino says:

I am ready to proclaim that the seller’s market is over. Gone are the days of multiple offers, homes selling in a few hours at over the asking price. Get ready for business being back to normal.

We believe that based on two strong economic factors:

• The rate of new home builds was ramping up faster than expected and as such, home builders would soon pump more and more inventory into the marketplace, giving buyers more choices. This would level out prices and builders would begin to take a larger market share.
• It was not realistic to think that Denver could sustain a 10 percent annual growth year after year. We believe that the market would not pass a 6 percent gain in appreciation this year and it looks like that is what it’s going to shape up to be.

To read Polimiino's conclusions, and the full article, click here.

Bloomberg: Young Renters Trading Size for Frills

Published in Bloomberg | July 10, 2104 | Written by Prashant Gobal

Young professionals are paying top-market rents to live in new upscale apartment towers sprouting in Nashville and other downtowns across the country. They’re sacrificing living space for a prime urban location and extras such as cooking classes, dog-wash stations and poolside Wi-Fi.

Developers, in the biggest U.S. apartment-construction boom in almost a decade, are shrinking the size of units so they can command luxury rates without narrowing the pool of potential tenants. The median size of apartments in new U.S. buildings fell last year to 1,043 square feet, the smallest since 2002, Census Bureau data.

At the same time, leasing is getting more expensive. The U.S. average rent per square foot was $1.25 in May, the highest in records dating to 1996, according to Axiometrics Inc.

To read the entire article: http://ow.ly/AibwP

Realtor.org: Great news! Your house is probably worth more money today than it was in January

Published on Realtor.org | Written by Adam DeSanctis | June 23, 2014

Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier.

Lawrence Yun, NAR chief economist, said current sales activity is rebounding after the lackluster first quarter. “Home buyers are benefiting from slower price growth due to the much-needed, rising inventory levels seen since the beginning of the year,” he said. “Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.” 

Read the full article here: http://www.realtor.org/news-releases/2014/06/existing-home-sales-heat-up-in-may-inventory-levels-continue-to-improve

7 Colorado Lawn Care Tips for Green & Healthy Grass

Caring for a lawn at high altitude in a dry climate can be a challenge. Here are 7 tips to help you succeed. 

Lawn Care Tip 1 - One-Third Rule 

Removing more than 1/3 of the grass blade will stress out your lawn. If you cut or take out too much of the grass blade, your lawn will have a difficult time thriving and will instead look burnt out.

Lawn Care Tip 2 - Highest Acceptable Height

When you have long grass blades, your roots will grow deeper. Grass that has deeper roots will withstand drought and oppose pests and diseases.

Lawn Care Tip 3 - Sharp Mower Blades 

Your lawn's appearance is enhanced by sharp mower blades. Cleaner cuts of grass are provided by sharp blades. Grass will be able to recover from mowing faster when it is cut by sharp blades.

Lawn Care Tip 4 - Apply Fertilizer 

Use fertilizer to get a healthy, green lawn. You have to apply fertilizer at the right time to get the best results. Consult with your local Weed Man professional for options.

Lawn Care Tip 5 - Deal with Weeds, Insects and Diseases

Brown circles or dry areas around your lawn means that you might have a problem. As problems travel under the soil, big circles called brownouts caused by fungal disease or insects leave a line of traceable dead grass. Your Weed Man professional can help identify the exact problem and recommend treatment.

Lawn Care Tip 6 - Deep Watering

Deep (rather than shallow) lawn watering is encouraged to grow deeper roots. One inch of water to 12 inches of soil is the preferred ratio for watering actively growing grass. Watering your lawn every three days is better than watering a few minutes every day.

Lawn Care Tip 7 - Check Your Irrigation System

For proper turf watering, test your irrigation system. One suggestion is to place five straight-sided pans around your lawn. When you turn your irrigation system on, take note of how long it takes for one inch of water to accumulate. Check to see if all the pans get the same amount of water. You might need to adjust the amount or distance of your lawn's sprinkler heads.  

To read the full article on WeedManUSA, click here: http://ow.ly/ypPMD

AIA's 2014 Top Ten Green Buildings in the US

The American Institute of Architects has revealed its 2014 selection of top ten green buildings in the US.

As was the case with last year’s list, the judges came up with an interesting list of buildings that includes some lesser-publicized green-building projects, such as a homeless shelter, a treehouse, and even a Net-Zero energy courthouse.

To read the full article click here.

CSBJ Best of Business 2014 - Voting Ends Today!

The CSBJ Best of Business voting has begun.   Of course, we'd love for you to show your support for us again!  We are entered in the following areas:

• Best Property Management Residential: All Seasons LLC

There are some rules to the voting, but it is worth the few minutes it will take you to do it! Here are the steps, rules, and some recommendations.

1. Go to: http://csbj.com/2014-best-of-business/
2. Click on the image to begin voting.
3. Register/Login - complete simple login information
4. Start with the Non-Book of List Categories and the website will guide you through the entire list of categories.

It's that simple, but heads up! You must vote in at least 25 categories for your votes to count. You can vote for your favorites in any of the other categories. Happy Voting!

'Widespread' Softness Defines Market

from Colorado Real Estate Journal | by Jennifer Hayes | April 30, 2014

Widespread softness marked the Colorado Springs apartment market in the first quarter of 2014.
Apartment Insights recently released its Statistics/Trends Summary for the first three months of the year in which it noted vacancy rose, absorption dropped and rents saw a slight increase.

“Vacancy increased in most categories, including affordable properties, absorption was negative and concessions increased, more than offsetting the increase in rents,” explained Doug Carter of Sperry Van Ness/Doug Carter LLC, who co-authored the report with Cary Bruteig of Apartment Appraisers & Consultants. “Although long-term trends remain positive for the area, the recovery continues at an uneven pace.”

Read the rest of the story at the Colorado Real Estate Journal by clicking here.

Pros and Cons of Living Within a Homeowners Association

from Realtor.com | by Michele Lerner | April 25, 2014

Ask two different homeowners what they think about living in a community with a homeowners association and you may see one of them scowl and another smile. The difference of opinion on homeowners associations, or HOAs, depends on several factors, including individual personalities and preferences and the quality of the particular HOA.

To learn more about HOAs read the rest of the article by clicking here.

Neighborhood Red Flags When Renting

from Realtor.com | by Neil J. Leitereg | April 15, 2014

So, you have found a great apartment, one that is in your price range. While it seems perfect, it is important to consider not only the apartment itself, but also the neighborhood you will call home for the foreseeable future. You want to feel secure in your neighborhood, have access to the basic amenities that you need and feel that you’ll live there with peace of mind. Here are tips on looking for neighborhood red flags when apartment hunting.

To read these helpful tips at Realtor.com click here.

Report: Year-Over-Year Foreclosure Down in January

from Colorado Springs Business Journal | by Cameron Moix | March 31, 2014

While increasing from the month prior, Colorado Springs foreclosure rates decreased year-over-year in January, according to a report by real estate research firm CoreLogic.

CoreLogic reported foreclosures in the Colorado Springs area dropped from more than 1 percent in January 2013 to .77 percent in January 2014.

To read the rest of the article click here.

Average rent continues to rise in Springs

from Colorado Springs Business Journal | by Cameron Moix | February 28, 2014

Average apartment rent rose in the Colorado Springs metro for the 16th consecutive quarter (year over year) at the close of 2013, according to a report released Friday by the Colorado Division of Housing and the Apartment Association of Southern Colorado.

The report indicated that the average rent for Springs residents rose $9 (or 1 percent) to $799 compared to the same quarter of 2012. Although the year-over-year rate has increased for 16 straight quarters, the report specified that average rent is down from $830 during the third quarter of 2013.

To read the rest of the article at the Colorado Springs Business Journal click here.

The Mortgage Market Is About To Get Smaller

from PropertyManager.com | by Marc Courtenay | February 27, 2014

As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders from allowing borrowers to carry total debt payments totaling more than 43 percent of the person’s annual income.

To read the rest of the article click here.

Local real estate forecast healthy for 2014

from The Colorado Springs Business Journal | by Cameron Moix | January 2, 2014

A key indicator of economic vitality in any metropolitan area is the health of its real estate market, and Colorado Springs is no different.

The incoming year, while as unpredictable as any, is shaping up to be positive in that regard, according to commercial and residential real estate experts.

Every prediction, forecast or outlook is fallible — but those that track the trends and crunch the numbers do their best to illustrate the future realistically and with whatever tinges of positivity or negativity are instigated by data.

In the Springs’ case, there seem only to be clear skies on the horizon.

The real estate market — both commercial and residential — continues to bounce back since turning the corner in 2011 and local experts see the coming year as a step closer to complete recovery. Colorado Springs real estate investors can only hope they are right.

To read the rest of the story click here.