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Luxury Custom Home Buyers Love The Timbers in Parker CO.

Mar 1st 11

filed under: The Timbers

Beautiful Custom home in The Timbers

At some point in our lives most of us consider or at least dream of owning or building a custom home. I know I have. In Parker Colorado we have the top selling custom home community in the entire Denver Metro area. The Timbers. The Timbers is located in the The Pinery which is a 27 hole golf community in South Parker Colorado. Usually once I bring a home buyer into the The Timbers the neighborhood sells it’s self.

See every home currently for sale in The Timbers

The Timbers Custom homes in Parker Colorado

Beautiful rolling hills, wildlife, views of the Denver, Colorado Front Range and a forest of Ponderosa Pines draw people from the typical suburbs to The Pinery and The Timbers. The Timbers is typically custom and semi-custom homes priced from the $600,000’s up. Most of the full custom homes are selling from the $700’s to $1.2 Million range with others well above the $2 million mark.

Yes there are still lots available for purchase so you can dirt start your dream home. With several great custom home builders to choose from you should be able to have your choice of design and builder. I know for a fact that there are still several very good view lots available too.

People always ask why move into The Timbers versus Pradera Golf Club. I can only say it’s personal preference. The Timbers does have direct views onto the mountains and Front Range and I believe many relocation buyers transferred in to our area really want to get the full Colorado experience and must have the big mountain views. Why not.

Custom Homes in Parker Colorado

The day I wrote this (March 2011) you still have the ability to join both the Pinery Golf Club and The Club at Pradera. Memberships are still available and most of my golf enthusiast clients do end up joining both clubs. Hey why not have access to the new clubhouses at both courses and the ability to play 45 holes of beautifully designed golf course. Count me in.

The Pinery & Timbers Homeowners Association is rock solid too. Expect to pay about $200 a year for HOA fees and yes I did mean per year not per month.

The taxes in The Timbers are also a blessing. The Timbers taxes are about %40 to 50% less than Pradera. Unfortunately Pradera is paying off bonds associated with the building of the neighborhood.

Basically with prices depressed from the real estate market downturn and interest rates down coupled with the fact that lenders are NOW lending money to high end luxury home buyers I would say that it is a super time to check out that luxury custom home you have been dreaming about.

I ran the numbers for The Pradera Golf Club and over the past 4 years prices on luxury homes over $750,000 are down $12.83% from their high in 2006/2007. I will soon post the figures for the 4 year sales stats for The Timbers but you will need to check back for that information or call me (Steven Beam 303-941-4663) for an email copy. I will post it soon.

If you are considering selling your home I would love the opportunity to earn your business. Here is a preview of a recent sale and a testimonial from a recent luxury home seller.

Tags: crs, Custom Homes, for sale, golf, luxury, parker colorado, pinery, Pradera, realtor, steven beam, The Timbers

posted by Steven Beam // 1 Comment »

Should I Short Sale My Parker, CO Home Before Foreclosure?

Oct 13th 10

filed under: Castle Rock Homes, Colorado Short Sales, Highlands Ranch Homes, Homes for Sale, Lone Tree Colorado Homes, Real Estate Answers, Stonegate, The Timbers

Parker Colorado Home Values

“Will a short sale help me sell

my Parker Colorado home?”

In today’s changing and declining real estate market it is becoming increasingly more difficult for many homeowners to sell their homes and fully satisfy the mortgages on the property as well as pay all the closing cost related to the sale.

Email Lou for quick answers to your short sale questions.

More and more Parker, Colorado homeowners are looking to short sales to enable them to sell their properties. Not everyone can qualify for a short sale on their property. The lender typically is not willing to provide a discount on a performing mortgage with a strong borrower. Certain conditions must be met before a lender will qualify a borrower for a short sale.

Here are the general conditions for a short sale qualification:

• You must provide proof that you are experiencing a hardship through such things as unemployment, marital problems or medical issues.

• You must show that the value of your property has fallen so the lender can justify the sale of the property at the present market value.

• You must provide evidence that you are behind or about to fall behind in your mortgage payments.

• You must not have substantial assets that the lender can view as a resource to pay your ongoing mortgage obligation.

• You must have a qualified buyer to purchase the property. Your Realtor can provide a buyer from their listing and marketing of the property. This typically is not a problem.

• The lender must agree to the short sale.

By pricing the property in relation to a negotiated short sale discount the homeowner is able to attract qualified buyers who are looking for a competitive price on their new home or investment. With the multitude of short sale and bank owned properties currently listed for sale a short sale discount may be the best avenue for a homeowner to market and sell their home.

Short sales are a specialized form of real estate transaction. A homeowner should work with an experienced and qualified Realtor who specializes in this type of transaction. Your Realtor and their staff will insure that all of the elements of this transaction will take place properly.

Tags: agent, broker, Colorado, crs, douglas county, for sale, foreclosure, help, home, homes, Parker, real estate, realtor, short sale, steven beam, values

posted by Steven Beam // Please leave a comment.

Common Foreclosure and Short Sale Terms-Parker Colorado

Oct 12th 10

filed under: Colorado Short Sales, Highlands Ranch Homes, Lone Tree Colorado Homes, Real Estate Answers

Parker Colorado Short Sales and Foreclosures

Understanding the terms used in foreclosure.

Every Parker, Colorado homeowner facing a possible short sale or foreclosure needs to know this information about options and possibilities that can help you take control of your situation.

Too often in Parker and Douglas County Colorado I see homeowners to ashamed or embarrassed to seek out help before it’s too late. Don’t let your home go to foreclosure when there may be another option to get you out in one piece. Short Sale.

When homeowners are facing hard times and need to consider a work out with their mortgage lender there are a number of directions that can be taken. Understanding the terms associated with those options is critical if you are going to begin discussions with your lender.

There are two roads you can take when doing a work out with your lender.

Options when you can keep your home.

Reinstatement or Cure:

Your lender may allow you to make a lump sum payment to bring your mortgage current if you can show that funds from a tax return, bonus, or other source may be available in the near future. Many homeowners facing a family hardship typically do not have this option available to them.

Forbearance:

When a hardship has been overcome and the borrower’s income has returned, a forbearance may be available from their lender. This forbearance provides for the borrower to restart making the original payments on the existing note. An additional fee is added to the base payment in an effort to repay the delinquent principal and interest to the lender. This added payment can be added for a period of a few months to a few years depending on the amount of the deficiency and the ability of the borrower to repay.

Partial Claim:

This remedy is only available for an FHA insured loan. HUD/FHA has a provision which provides a onetime relief for the borrower to agree to an interest free loan for the deficiency amount. This loan is a second position note and does not have to be repaid until the property sells and the original FHA loan is paid.

Loan Modification:

The primary loan modification program in place today is the Making Homes Affordable program. This program is administered by HUD and provides incentives to the lender to modify federally insured & guaranteed loans (FHA & VA). The arm of this program associated with moan modification is called Home Affordable Modification Program or HAMP. Typically a HAMP modification will require the borrower to enter into a temporary arrangement with the bank to modify the mortgage for a period of typically 9 months. If the borrower is able to comply with the temporary program thy may be permitted to enter a permanent modification on their original loan. The borrower must be employed and able to show a verifiable income and the ability to pay to be accepted into this program.

Options when you cannot keep your home.

Foreclosure:

A foreclosure is the end result of the process the lender takes to recover the property after a loan default and all the legal remedies have been exhausted. The foreclosure will result in the most negative impact on the borrower’s credit and remains on his credit report for a period of up to seven years. The foreclosure also does not restrict the lender from perusing a deficiency judgment against the borrower for any deficiency left on the loan after they resell the property and all the fees and expenses have been paid. The only relief the borrower would have from this judgment would be bankruptcy.

Deed in Lieu of Foreclosure:

A remedy offered from the lender to the borrower in a situation where the lender is perusing a foreclosure on the borrower’s property. The Deed in Lieu of foreclosure gives immediate title and possession to the property to the lender so they can begin marketing it for sale. The benefit to the borrower is that, if they leave the property in good condition, the lender can pay them for some or all of their moving expenses and agree not to file a deficiency judgment against them personally.

Short Sale:

A very commonly used vehicle to provide for the sale of the property to a new buyer before the lender takes back the property through the foreclosure process. Most lenders have become very receptive to working with the borrower and their Realtor to facilitate the short sales so they are not additionally burdened by an increase to the number of properties they now own and are trying to sell in this market. The short sale will cancel any foreclosure action by the bank and typically provide for a quicker credit recovery for the borrower.

Tags: crs, foreclosure, help, Homes for Sale, parker colorado, real estate, short sales, steven beam, terms

posted by Steven Beam // Please leave a comment.

Denver Colorado Condo for Sale 4896 S. Dudley Street

Oct 11th 10

filed under: Homes for Sale

4896 South Dudley Street, Unit 6-12, Denver, Colorado 80123

4896 South Dudley Street, Denver, CO 80123

MLS # 937047

Asking Price $104,000

1,146 Square feet.

FULL MLS SHEET HERE.

Located just off Wadsworth in Denver with super easy access to downtown and the DTC.This is a great opportunity to own an updated condo in Denver Colorado.

Totally remodeled kitchen with new cabinets, flooring and countertops. All new carpet and paint too. Low monthly HOA fees for $125 and super low taxes at $598 per year. HOA covers all exterior building maintenance which will also lower your yearly property insurance. So if you are looking for an investmnet property or an inexpensive place to call home this Denver Condo is for you.

Tax consequences of a Colorado Short Sale.

Tags: 4896 south dudley street, appletree, Colorado, condo, crs, denver, for sale, home, real estate, realtor, steven beam, townhome

posted by Steven Beam // Please leave a comment.

Luxury Home Sales Report in Parker & Franktown Colorado

Oct 10th 10

filed under: Castle Rock Homes, Highlands Ranch Homes, Homes for Sale, Lone Tree Colorado Homes, Pradera, Real Estate Stats, The Timbers

Parker Colorado Luxury Homes

This is a report for the Luxury Home Sales in Parker and Franktown Colorado.

The high-end luxury home sales in Parker and Franktown Colorado is moving ever so slow at the moment. The report below will show you luxury home sales fron January 2010 to October 2010.

High-end homes are defined here as any home that sold and closed at or above the $750,000 price point.

I did not include homes sold in Elizabeth and Castle Rock but I can post that report later.

Total homes sold above $750,000 = 34
Average total days on market = 214
Average NET sold price = $994,619
Highest sales price in Parker and Franktown Colorado = $2,200,000
Currently there are 7 homes in the luxury market that are under contract.
Currently in Parker and Franktown there are 119 homes for sale in the Luxury Market.

See All homes in Parker for Sale between $700,000 and $900,000.

See all homes in Parker Colorado for sale over $900,000

Tags: Colorado, crs, franktown, high-end, homes, luxury, Parker, real estate, steven beam

posted by Steven Beam // Please leave a comment.

20949 Woodside in Parker CO. $260,000. Great ranch with a three car garage.

Oct 8th 10

filed under: Just Cool Photos

Steve Beam
303-941-4663
[email protected]
Sent from my iPhone

Posted via email from Steven Beam’s posterous

Tags: 20949 woodside lane, crs, Homes for Sale, parker colorado, real estate, steven beam

posted by Steven Beam // Please leave a comment.

Who controls appreciation in your neighborhood?

Sep 23rd 10

filed under: Castle Rock Homes, Homes for Sale, Lone Tree Colorado Homes, Real Estate Answers, Real Estate Stats, Stonegate

Home Appraiser

The wonderful new system that our government has forced upon us is the HVCC. Home Valuation Code of Conduct. When you combine this with appraisers that are incapable and or incompetent then boy do you end up with a cluster… I’m not going to go into the full details of the HVCC but I did add a link above that you can go read and learn.

Here’s my story I wanted to share about my experience and how I believe the current new system is setup to:

Prevent natural appreciation of a home, neighborhood, city or area.
Allows appraisers, underwriters and banks the ability to control appreciation and market value in our real estate market versus the buyer and seller.
Completely removes “Market Value” from the real estate industry. Market value being defined as what a ready willing and able buyer has agreed to pay a ready willing and able seller.

I have a seller that purchased a home next door to his mother. He bought the home years ago at a very low price and totally gutted the property. He took it down to the studs and replaced everything from the electrical system to the roof to the floors, kitchen and I mean everything. It was basically a NEW house. There is not an old surface in the house. He did the same on the exterior. It was a CLASSIC over improved property for this neighborhood. He knew this and was reasonable in his understanding that he was not going to get all of his money back out of this property. Not even close. He was probably going to be forfeiting $50,000 or more from what he had in the property but it was all fine. He used and enjoyed the house for several years while living next door to his mother when he was in town. He has several other homes in other states and travels almost constantly. Got the picture?

So we listed the house $60,000 under what he had in the house. When we originally talked about listing the house last year there were several arms length closings and a few foreclosures and of course the short sales closings. We had comps that were going to be about $25,000 less than what we were going to list for. I seriously didn’t think it would be an issue once the appraiser and bank saw the comps and the upgrades in this home. I figured we could garner at least $25,000 for the more than $100,000 he had put into it.

Once we listed the house with it’s upgrades and ideal location it was an immediate showing success. We secured an offer within about 2 weeks and agreed on a contract price which was about $5,000 under asking. All was good and we were trucking to closing.

Weeks later I met the appraiser at the property and handed him some comps and the full list of everything that was done on the house. Showing the over $100,000 in repairs and upgrades that he could easily see and touch.

Then the bottom fell out.

Even though I had a comp (that he used) that sold for $20,000 more than this house he said our house was only worth EXACTLY what the last foreclosure in the neighborhood was worth.

How is this possible?

How can a remodeled home be EXACTLY worth a trashed out foreclosure DUMP?

I called the bank the other broker and the lender. They all agreed that their must be a major issue. We were over 20% off the contract price. This has never happend before to me, the buyer’s agent or the lender. What was going on? Lots of questions to be answered. How could a comp that sold for $20,000 over this one not matter?

The buyer really wanted this house and was still willing to proceed so we waited several days for an appraisal review. At this point the seller and the buyer agreed that as long as they got it close we would all do whatever we could to make it happen.

Oh yes it came back the same. No change at all. Didn’t even add one cent to the appraised price. Basically a dead deal at this point…No hope.

The underwriter, lender , buyer, seller and both brokers all agreed that the appraisal was wrong but the controlling forces wouldn’t change the price.

Obviously I believe the appraiser was so inept and a major idiot probably with an axe to grind so he took it out on this seller and buyer. Maybe he was so freaking stupid and scared to lose his license he wouldn’t step out on a limb and give the property a true value. I think a lot of it has to do with stupidity and laziness in the industry. He knew he was getting his check from the bank so what the heck. Why should he do any extra work and try to determine the real value of the house with it’s upgrades. WTF? Lazy, lazy, lazy.

Market Value = what a ready willing and able buyer is willing to pay a ready willing and able seller.

Market Value = What we the appraisers fell like valuing your house for on a particular day if we feel like working that day.

This just lets us know that if the appraiser and bank don’t want your neighborhood to appreciate it ain’t going to happen.

So maybe all the people fixing up their homes right now should NOT do it? Are home remodels a total waste of time and money?

With a system like this neighborhoods cannot appreciate.

Details:

List price $265,000

Contract price: $255,000

Over $300,000 in the house for the initial purchase and remodel. Top of the line beautiful remodel. Move the house across the reservoir into Greenwood Village and it would have sold for $400,000 +.

Comps. #1 = $283,000, #2 = $205,000 and #3 = $212,000.

The house appraised for $205,000. REALLY? What a dumb-ass.

I feel better now at least I got this off my chest.

Tags: appraisals, appraisers, aurora colorado, crs, home vaulation code of conduct, HVCC, parker colorado, realtor, steven beam

posted by Steven Beam // Please leave a comment.

Parker Colorado Townhome For Sale

Sep 3rd 10

filed under: Homes for Sale

19440 East Mann Creek Dr, Parker Colorado

19440 East Mann Creek is located right in the middle of Parker, Colorado. Parker Colorado is located in Douglas County Colorado. A better location with the amenities this townhome comes with would be hard to find. This Parker townhome has been remodeled and updated so walk in and expect to see a super clean home filled with new surfaces and flooring.

Here is a link to the MLS sheet. If you have problems here just email Steve and I ask for a PDF file of this wonderful home and I will shoot you an email with the file. You can always call too. 303-941-4663.

See the PHOTOS HERE

HOA Covered Amenities: CHECK THIS OUT!

Community Pool
Trash & Snow removal
Water and Sewer
Grounds maintenance
Tennis Courts
Clubhouse with Fitness Room
Exterior building maintenance including the roof.
Asking Price is $157,000

Living Room Photos

Living Sqft 1052
Attached 1 car garage
Balcony overlooking green space.
Reserved Guest Parking
Built in 1998
2 Bedrooms
2 Bathrooms

Just to give you an idea this town home in Parker Colorado is located just south of what will soon be the Hess Road cut through to I-25 so this means direct access to I-25, Sky Ridge Hospital, and the DTC. No more dealing with Lincoln Ave and Parker Road.

The grounds are perfectly and professionally maintained. The exterior building maintenance is also perfectly and professionally maintained. So, there is nothing to do but move in and enjoy.

4056 South Atchison Way, Aurora, Colorado Home for Sale

Should I Payoff My House?

Pradera Golf Club Real Estate Homes Sold Report

Parker Colorado Real Estate Update

Tags: 19440 east mann creek drive, broker, condos, crs, homes, Homes for Sale, parker colorado, real estate, realtor, steven beam, town, townhomes