Colorado Homes Prices Up 7.3%!

In the U.S. over the last year, homes prices have jumped up a staggering 3.8%. This increase is reason for cautious optimism, considering how weak the real estate market has been. And this is the biggest year-over-year increase in the last six years, a Denver Post article reports.

Ready for some better news? Colorado’s home prices are up 7.3%, ranking as the fifth state with the biggest gains. It falls behind Arizona, Idaho, Utah, and South Dakota. Since July 2011, Arizona’s home prices have risen nearly 16.6%.

Although the housing prices remain below where they were in April of 2006, the market has been slowly recovering in 2012. Builders are starting work on more homes, the sales of new and previously occupied homes are up, and mortgage rates are close to their lowest levels in the past 60 years. The recovery may be slow, but it is happening!

East Colfax Development

The shattered, and nearly forgotten, stretch of East Colfax Avenue is getting an updated makeover, thanks in large part to Sprouts Farmers Market. A massive project is in the works for the site of the long-vacant Rosen-Novak and Elway car dealerships, near Colorado Boulevard, reports a recent Denver Post article.

The site was originally set to host a Sunflower Farmers Market, but when the two companies merged, Sprouts was the surviving name. The Sprouts Market, estimated at 26,000 square feet, will take up the north side of Colfax between Garfield and Monroe. The adjacent block, what is now used as a parking lot for National Jewish Health, is going to see the addition of numerous restaurants and shops, according to plans unveiled by the retail developer, Evergreen Development, and the landowner, the Rosen family of Denver.

The big picture for the grocery store is to help boost the neighborhood’s redevelopment, while maintaining a low impact on the people. Small details are being taken into big consideration, as Sean Mandel, a part of Rosen Properties, wants the parking lot hidden behind landscaping and a brick wall. Other architectural features were designed with the public in mind.

Demolition for the new Sprouts was scheduled to begin on August 20th of this year, with completion in April of 2013.

You just bought your first home...now what?

Buying your first home is undoubtedly one of the most exciting events in one’s life. But sometimes, it can seem overwhelming. A local homebuilder, Allen Shulman, with over 25 years experience, decided to help “rookie homeowners” by putting together “The New Homeowner Guide “, a book that explains the basics of home care.

In a recent Denver Post article, Shulman explains some of the important tips in home maintenance and how to settle comfortably into that brand, new property:

If you spend now, you’ll save later: By spending a few dollars on a tube of bathroom caulk and replacing that around the walls of your bathtub, you can help to prevent water damage and avoided an ugly bill upwards of $10,000. Shulman teaches how small, immediate maintenance can save you a lot of money in the long run.

Just because it “works,” doesn’t mean it works: Even though your dryer may turn on and appear to operate normally, clogged dryer ducts cause your appliance to use up more energy and boost your energy bill. But most people never inspect these ducts and thus, never know about the problem! By regularly maintaining the dryer ducts and connections, you can avoid a hefty energy bill.

Things you don’t see CAN hurt you: Some seemingly invisible things-like mold, radon, and termites-can cause major problems for both you and your house, if you don’t know that they are there. Radon is an odorless and tasteless gas that can cause serious health issues, like lung cancer. And termites, although small bugs, can cause extensive damage to the structure of your house. But you’ll never know if any of these invisible dangers are there unless you get your home tested. A simple test can save you big bucks!

Check out Shulman’s company, BrightNest, for other expert tips and relevant reminders to help make your new home the best it can be!