The Real Estate market can be intimidating, especially when the media scares you to death! The media loves to sensationalize, as we all know. The problem is that the general public tends to believe the first thing they hear and rarely does any background check to see if what they are hearing is substantial.

Currently the media is using the mortgage problems and lower home sales to blather on about the "doom and gloom of the market". In reality, there are many bright spots in the market, as long as you know where to look. Older, desireable neighborhoods not near new build areas are the best bet here! The problem with most of the real estate market is that people living next to new construction are competing with the new home sales, which have plummeted due to the home builders' needs to cut inventory. This is driving down the prices in the newer areas. The older neighborhoods don't have to worry about this. That coupled with the fact that a down market means that there are still 85-90% of the normal buyers and sellers are still out there!

Denver is also lucky enough to have been in a bit of a down market when all this began. Why is that a good thing? Well, because the Denver market couldn't drop far when the stuff hit the fan, unlike Vegas, Phoenix, South Florida, and other areas that were in their peak boom. Those areas got rocked. The Denver market on the other hand, just made a mild dip and is now jumping back up, much quicker than the rest of the country.

So, what does this mean? It means that areas like the older neighborhoods in Denver, are great investment areas and are still doing very well, even in a bad market. The older neighborhoods around Denver's CBD have been in a state of revitalization for years with many families looking to move closer to downtown to lessen commutes and take advantage of the unique shops and restaurants that can only be found there. Neighborhoods like Washington Park, Cherry Creek, Hilltop, Crestmoor, Highlands, Platt Park and the DU area, Observatory Park, Park Hill, Mayfair, Country Club, Congress Park, and the areas around City Park are all areas realizing this revitalization, and are all doing well in this market. Most of these areas are not only holding strong against downturns in the market, they typically still show gains. They then grow at a much faster rate during better times, making them some of the best investments a person can make. The reason these areas hold their value is because they are located in areas where there is a finite product. There are no more areas to buy land. There are no new home builders around to compete against. That coupled with the desire of people to live in the areas makes these neighborhoods some of the best investments out there.

So, in conclusion, even though the media has spawned this idea that the market is a horrible place right now, there is a great silver lining in it. For all of you looking to invest, or looking for your next home, give me a call and I will help you find that solid investment!

Best Regards,

Your friendly neighborhood Denver Realtor
Doug Haughey
303-918-1408
dhaughey1@hotmail.com
www.greatdenverhouses.com

It is always hard to find someone who is going to do good work, be on time, trustworthy, and fairly priced. All too often you find 3 out of the four, but that fourth one will kill you!

The first step in finding a good contractor is referrals. Always ask your friends and other people you trust who they have used in the past and would they use them again. If they would use them again, add them to your list of people to call. This is where you will hopefully find most of your contractors!

When meeting a contractor your first gut reaction to them is typically the right one! If something seems off about them or rubs you the wrong way simply tell them thank you for your time and I will be in touch if I can use you. You never want to hire someone who doesn't feel right to you, even if they are the cheapest. It will probably end up costing you more in the long run.

Always get multiple quotes! Even if the first contractor you meet seems to be the right one, the other quotes you get will help you negotiate a fair price for the work. Also, all quotes are negotiable. Unless it is a national company, they will always work on price to gain your business.

When you do find one that you like- make sure to keep in touch with them! File them in your rolodex (or cell phone). Refer them to others and the next time you need them for a job they will likely give you a great deal. When you refer them, call them to tell them you've just referred them. It is a great way to keep in touch with them and it shows that you are working for them, which will benefit you the next time you need them.

Good Luck!

This is my first post and I figured I'd do it on something I love- fixing up homes! The problem with a lot of remodels is not in the work, but rather in the location and design of the remodel. This is where most remodels go wrong. They aren't conceived well from the start. In order to make money, in this market or any other, you need to create a home design that is both attractive and functional for the demographic that desires to live in the area you are remodeling in.

I have seen too many homes that have great work done in them and have gorgeous features, but are completely wrong for either the home or the area, and the person who fixed it up ends up losing money on the deal. A perfect example of this is a guy I met across the street from a home I sold. He was impressed with how fast my listing sold and that it was near full asking price- in this market. He asked me for my opinion on the work he was doing to his house and when I told him that I didn't think his pricing would fly in the neighborhood but he disregarded me and tried to sell it for what he wanted- based on what he had put into the home. Needless to say, he is still trying to sell his house- after 3 months. His problem isn't only in pricing. He also has some very nice features in the home that aren't well thought out. For instance- the bathroom with the beautiful tile, wonderful soaking tub, and fancy vanity opens it's only door out into the living room:( So, when you are done with your whirlpool, you have to walk out in your towel through the living/dining room to get back to the master bedroom. Not real user friendly!

It's things like this that hurt people trying to flip homes. I always wish everyone the best of luck in flipping, but sometimes you need more than luck.