Between Denver and Boulder Colorado – Local Tidbits & Real Estate News February 2010

Joetta’s Neighborhood Newsletter

Hello Friends and Neighbors!

Input from Readers

“Do You Want to Learn to Make Recipes,

or Would You Rather Learn to Cook?”

That’s what it says on the home page of KitchenCue.com. I just had to check it out after I read what Kathy said:

“My son, Kevin Higgins, is a Pomona HS graduate (as are all my kids). He and his wife, Chef Shellie Kark, own a company called KitchenCue which produces interactive cooking empowerment DVD’s that are excellent and very professionally done. Their goal is to bring families back to the dinner table by empowering people in the lost art of healthy cooking. Chef Shellie was an instructor at the Cook Street Cooking School and developed their curriculum. The KitchenCue DVD’s were featured in the November issue of Oprah’s “O” magazine – especially fun because they did not solicit the piece, the magazine came to them. Shellie is a spokesperson for Chefs Catalog and Wine Enthusiast magazine and is a popular presenter at the Denver Public Library, Whole Foods, Vitamin Cottage and all around town. She’s been on Oxygen Network, Colorado and Company, and frequently on Channel 9 News at 4:00.  See samples of the DVDs and customer reviews at KitchenCue.com. Get a Pantry Resource Guide from their website, they will not share your name or email.” - Kathy

And I received this ‘wildlife report’ from another Kathy, along with a referral:

“We had a red fox in our backyard recently. Was quite a surprise!

Mark Costello (who lives in the area) is a great person to call for painting, texturing, tile work, or miscellaneous repairs. He is reliable and will do jobs to your satisfaction. He has done quit a bit of work for us, and we have been thoroughly satisfied. We highly recommend him. Phone: 303-435-8785 and email is mtcostello@ymail.com – Kathy

And some fox sightings in Lake Arbor (maybe getting chickens is a bad idea!?!) –

Hey Joetta, I wanted to tell you that we have foxes in our neighborhood now. We had a large one in our front yard last week @ 4p.m., then he just strolled down the street like he belonged here. There was also one in the backyard while my daughter took the garbage out one night! My friend down the street said a large one is sleeping in their backyard for over a week now and sometimes they have had as many as 3 at a time in their back and front yard! They just jump over the 6ft. privacy fence like nobody’s business. People with small dogs or cats beware! Karen

I really like when people give referrals for local business people. Here’s another:

“I like the work they do at Precision Watch, Clock and Jewelry Inc., at 8770 Wadsworth, #D. I have had them work on antique clocks and modern watches. They are very good.” - Ann

Super Bowl Gear

Thousands of pieces of Super Bowl memorabilia are prepared for both teams, in advance of the game, so crazed fans can buy great stuff the moment the winner is known. Did you ever wonder what happens to all the stuff labeled with the team that didn’t win? Me either.

But I found out today, that since 1992 the NFL has donated it to World Vision. And this year the thousands of shirts, hats, and trophy towels are headed to Haiti.

Homeless & Going to School in Jefferson County

Yesterday, I met with Jessica Hansen, a liaison for Jefferson County students who are homeless. There are 2,000 homeless kids attending Jeffco schools. Most are homeless with their families, and living in temporary housing. It’s very tough on these kids to get through the normal routine and stresses of school, when they don’t have so many basics most kids take for granted. Jessica said one way to help is donations of hygiene items and new underwear items.

So, I’m going to collect these items and deliver them to her for distribution as needs arise. Donations are tax deductible, but you’d have to give me your contact info and the dollar amount of what you donated. I’ll be setting up some drop-off points, and you’ll hear more about it next month. But in the mean time you could drop items off at my house, 8031 Allison Place in Arvada, near 80^th and Wadsworth.

I know the needs are great right now and there’s a million ways to help. But I really want to come along side Jessica in her efforts because, even though it’s her job, she really puts her heart into it. She has to establish relationships with the school administrations, then she gets to know the kids. This is a very local, very powerful way to help some of the many families who have lost jobs and housing.

Someone told me today, that when they see ‘buy one, get one free’ items, they’ll donate the freebie, That’s the kind of thinking that can change the lives of struggling local kids.

My Listings

You missed out on my Wyndham Park listing, it’s under contract. But I have this little condo listed for $100,000. Similar units sell for $120 – $138,000. It’s a short sale, but I already have bank acceptance. So it could probably close in five to six weeks, and be an incredible deal. Built in 2005, one bedroom, one bath, one-car garage. 10320 W. 55th Lane Unit 5, 80002 MLS #849146

Can You Own a Home for About What You Pay in Rent?

The other day I was thinking how common it used to be to say that people who are renting could get a home of their own, for not much more than they pay in rent. I never seem to hear people talk that way any more, and wondered what happened to that line of thinking.

Is it possible that the only way people got into mortgages for a monthly payment about equal to their rent was because of those notorious ‘teaser rates’? (Those ‘teaser rates’ were what we all heard about on the radio – mortgages with 1% or 2% interest. Of course, they only stayed that way a short time.)

I wondered, “Is it still possible to buy a house in Colorado, and have a mortgage quite close to what you paid in rent?”

“This calls for research!” I shouted (to myself).

I went straight to the Colorado Division of Housing’s web site, and found the “Single-Family Housing Vacancy and Rent Survey”, Researched and Authored by: 
Gordon E. Von Stroh, Ph.D. of The Daniels College of Business at the University of Denver. Here’s what he said:

“Average rents by number of bedrooms were: one bedroom, $631.12; 
two bedrooms, $855.93; 
three bedrooms, $1,151.16; 
four bedrooms; $1,343.85; 
and five bedrooms, $1,488.42.”

So let’s say you rent a 1-bedroom apartment for $630 per month. What could you buy and end up with about the same payment?

Well, you could buy the condo I mentioned above. Say you put down 3.5% and get 5.5% interest on a 30-year fixed-rate loan. Your payment would be $550. Add $125 for HOA fees, about $100 for insurance and taxes, and you’re looking at $750.  Yes, it’s a little more, but you could have a tax write-off for mortgage interest, taxes, and some loan costs. Plus, you get a garage. Plus, you’re not subject to having your rent raised every time your lease runs out.

Hmmm … what do you think of that?

Or, someone who rents a 4-bedroom house for $1,350. At 5.5% interest, get a loan for $211,346 with payments of $1,200, plus about $150 for taxes and insurance.  $1,350 per month for a home of your own.

Of course, they need certain things, like a decent credit score, a job and some cash. But as long as interest rates and prices stay like they are, owning a home for about the same as rent is possible.

And don’t forget – if you get a house under contract before the end of April, you might qualify for an $8,000 tax credit.

If you have input for, or a response to, this newsletter, I’d love to hear from you.

Joetta Fort~ Equity Colorado ~ 720-353-8031 ~ Joetta.fort@gmail.com

My website (see all available homes here): www.DreamHouseHunting.com

I write posts on real estate issues and local events in the Denver metro area, especially those *communities between Denver and Boulder, as a public service. My hope is to give people an idea of the ‘flavor’ of our community, in case they’re new or moving to the Denver area.

I am a residential real estate agent, happily helping folks buy a house or sell a house in the beautiful and friendly *suburbs northwest of Denver.

*Arvada, Broomfield, Lafayette, Louisville, Superior, Westminster; also Thornton, Golden, Wheat Ridge, Northglen, Lakewood

Read more about Arvada Colorado.

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