Our local real estate markets. Does this market have legs? By Rocky Reynebeau

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1 101st Edition October 2012 ROCKY, JASON & JEREMY S REAL ESTATE GUIDE Pblished by Rocky Reynebea Jason Reynebea Jeremy Kendall Inside This Isse Analysis of the market Take advantage of these rates Inventory How the market really works The for factors affecting saleability The market talks to s Basic pricing strategies Or vale system Good basics Trth and respect No fancy footwork Sensible fee strctre No division of labor Ending co-ownership Inspection checklist The price tg-of-war Christy Lehnerz - Photographer One-phone-call soltions Analysis of Denver s Crrent Real Estate Market Does this market have legs? By Rocky Reynebea Or local real estate markets contine to have vibrancy that we started to see in Febrary of this year. This is especially the case in the entry level and moderate price ranges. The higher price ranges are also gaining strength bt becase that market is mch more elective, we have not seen the same bonce. The bonce is being experienced in all prodct types. In large measre, this vibrancy is mostly a reslt of interest rates that almost beg yo to by a home. This is good becase when hosing markets get healthy that will lead to gains in the broader economy. Every home sold has a mltiplier affect in the local economy in that it triggers a whole series of prchases - hoses, lawn mowers, appliances, etc. So, this is good and we are excited to see it. Still Higher Levels of Risk Each deal still experiences a higher-than-normal level of ncertainty becase the risk factors of appraisals, inspections and loan nderwriting contine to be at high levels. I don t think that s going to change for a while becase, over the last cople years, otside forces have gnked-p real estate markets. The market is dealing with different inflences these days. The Nose Under the Tent Many people are still concerned abot the possibility of a tax being implemented on each real estate transaction. As of Janary 1st of 2013 there will be a 3.8% tax on high-income families where profits are above $500,000. This tax is to fnd Obamacare. This will effect a very, very, very small percentage of home sellers - so don t worry abot it. It is, however, a camel s nose poking nder the real estate tent. Does not sond like mch risk bt remember that when income tax was enacted in 1913 it started ot at 1% for very high income taxpayers. The Jry is Still Ot The jry is still ot as to whether this market will have legs beyond the low interest rates. For a local real estate market to be totally healthy there needs to be growth and particlarly job growth with rising incomes. We still have a way to go on that. As I write this article, there is a bit of softness bt that is normal - there is always an neasiness in real estate markets arond election time. Similar to the weakness that develops when there is pward movement in mortgage rates or when we experience dramatic national events. This pcoming election is an important event when it comes to the health of or real estate markets. Money markets are easing p again and BELIEVE IT OR NOT we are seeing high-balance/sb-prime financing taking place again. The very same thing that got s in troble is back in the mix. There are some caveats associated with those loans bt they have been re-introdced back into the mortgage markets. Gee, I thoght we fixed that - crazy! Bloom Where Yo are Potted Every market - good or bad - presents opportnities and this one is no different. We are betting on America! If that is a good bet, then there may never be a better time to by real estate. Call s, we sell real estate for a living. See related articles, Take Advantage.. & Tg-of-War. PRSRT STD U.S. Postage Paid Denver, Co Permit No. 573 Rocky, Jason and Jeremy Metro Brokers - Reynebea & Company 215 Union Blvd., Site #125 Lakewood, Colorado Take Advantage of these Interest Rates Once-in-a-lifetime mortgage rates are not to be missed By Jason Reynebea W e have a niqe thing going on in or crrent national economy. Yo might call it a perfect storm when it comes to mortgage interest rates. The stbborn economy, which contines to be slggish, has created an environment that has created what might very well be a oncein-a-lifetime opportnity. In response to economic slggishness, the Federal Reserve contines to flood or economy with money to prop p consmer demand. This flooding with money is known as qantitative easing and we are in rond three - QE3. This is important to hear - these rates are national in natre to fix a national problem. Bt, and this is a big BUT, or local economy is not totally reflective of the national problem. Colorado s economy might be soft bt it is not weak. We benefit with these rates none-the-less. What really matters of corse is not the national economy bt yor own personal economy. If yor job stats is ncertain then a 3-4% mortgage rate means nothing to yo. Bt, if the nmeros facets of yor personal economy have good stability - then yo shold consider taking advantage of this wonderfl opportnity. This is jst a great time to by, do the pgrade or downgrade move or to refinance. It is important, in or view, to lock into a fixed rate becase QE1, QE2 and QE3 will reslt in inflation. Interest rates always are reflective in the inflation rate - that is an economic law. See related article on page 8. NOTE: If yo are going to refinance then it might also be a good time to convert to a 15-year loan if yo see yorself in the home for a long time. Yeah! yeah! - why wold yo pay off a 3.5% loan in an inflationary world. Becase debt free is a good thing in an ncertain world. Give s a call if we can help yo on any of yor real estate needs. It is what we do

2 Rocky, Jason and Jeremy s Page 2 October 2012 HOW THE REAL ESTATE MARKETPLACE REALLY WORKS! Improve yor byer and seller skills by nderstanding these basic real estate principles By Jeremy Kendall W hen yo enter the real estate marketplace, either as a byer or a seller, there are some very basic principles and concepts that are important to nderstand. More importantly, when yo can nderstand these principles both from yor point of view and from the other side then yo can become very good at accomplishing yor real estate goals. Real estate is a very simple bsiness that becomes very complicated when yo throw in all the variables of all the varios players. Sometimes real estate is like pshing a rope. Rocky always says to be a good byer or to be a good seller yo need to nderstand some basic principles abot this simple bsiness. While all these principles interplay with each other, let s talk abot them separately. Principle #1 - The For Factors that affect Saleability The for factors that affect the Saleability of real estate are Price, Condition and Location nder the mbrella of Motivation. Understanding these factors and how they relate to one another is the key to nderstanding the real estate marketplace. Motivation - What is the motivation of the players. This is the mbrella that hangs over every real estate deal. Assming there is motivation then: Price - Price is the most important factor affecting saleability. The price mst reflect the property s condition and location. Price goes p when the condition and location are good and down when bad. Condition - The condition of a home significantly affects its vale. Poor condition can be compensated for in several ways. Fix the condition problem or adjst the price to reflect the problem. One way or the other the marketplace will address good or bad condition. Location - Given that we cannot control the location then the price mst reflect the location, for good or bad. The only day yo can control location is the day yo by it - after that yo re stck with it. As the market works a property, byers and sellers become very informed with each feeling sccessfl when they both feel they ve done as good as they re going to do. It is amazing at how effectively the marketplace works. Principle #2 - How the Market Talks to the Players The marketplace talks to yo every day that a property is on the market - it commnicates via activity or lack of activity. Understanding what the market is saying will greatly improve yor sccess in the bying or selling of real estate. Here is what the market is saying: No activity - Providing that a home is properly exposed and it is not Christmas day - no activity means one thing and one thing only - the price is too high. The market is finding better prodcts elsewhere. There are some caveats bt on balance this is a fact. Moderate activity - no offers - This activity level implies that the price is still too high. Bt, if condition and/or location are excellent yo might be able to pll it off. At this point the price probably needs to be tweaked a bit. Good activity - no offers - At this activity level the market is basically endorsing the price bt probably doesn t like the condition or location of the property. If the problem is location then the only soltion is price and if it s a condition problem then correct the problem or adjst the price to reflect the condition. Good activity with offers - This jst means yo ve nailed it. Here there is good balance between price and the property s condition and its location. Good job! Great activity with mltiple offers - Here we have fish jmping in the boat. If this happens, especially if on the first cople days on the market, the property was probably nderpriced. Take it off the market, reprice it correctly and pt back on the market. Yo are not obligated to sell it if yo nderpriced it. A sale happens when both parties feel good abot the deal. The marketplace is magnificently effective at sorting ot vale. Principle #3 - Basic Pricing Strategies Assming that the Realtor and the seller are knowledgeable of prodct and of crrent market condition, there are three basic pricing strategies. The strategy employed is largely a fnction of the motive of the seller. These strategies are: Make it go away - Here the seller is highly motivated or money is not the most important factor. The pricing strctre shold always reflect the needs or motives of the seller. Market Vale - This strategy makes sense when vale is easy to define (i.e. lots of comparable sales) or when vales are not changing. The problem is that vales are always changing - we always sggest the next pricing strategy. Pshing the Envelope - Here the price is pshed to the oter edge to see if there is a market there. If not then the price is tweaked to reflect the amont of activity enjoyed. This is a wonderfl strategy when the seller nderstands the above principles bt a horrible strategy if concrete forms arond a seller s ankles. Remember, the market will almost always sort ot the correct vale on that given day. We se this strategy abot 90% of the time and it works. There is no right strategy. Clearly, there are so many variables at play, all of which are a fnction of the seller s motive. We always present the three pricing strategy options to sellers and let them pick the one that makes the most sense for their sitation. Again, real estate is a simple bsiness complicated by thosands of variables. Yo can do better when yo know some of the principles involved. If yo have any qestions regarding this article or the bying and selling of real estate please call one of s anytime at Or bsiness is real estate. Green Montain Estates W. Center Drive 3 beds/3 baths w Sqare Feet w Two-story w Offered at $569,000 3-car attached garage w Magnificent $1,000,000 VIEWS of Montains & Denver Valted ceilings w Contemporary styling w Large gormet kitchen w Hot tb room Decks off the family room, master bedroom and walkot w Master site w/office Incredible open floor plan w Wall of windows in the family room to die for Fll finished basement w/rec room and two bedrooms Steps from open space w Close to St. Anthony s Hospital and ftre light rail station Easy commte to downtown or the montains Stats - Active (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

3 Real Estate Gide October 2012 Page 3 Sixth Avene West W. 1st Place 4 Beds/3 Baths Sq. Ft Two-story 2- Car Attached Garage Excellent Cl-de-sac location Large covered patio Beatifl landscaping and great crb appeal Large Spacios rooms Wonderfl floor plan Open family room with fireplace Fll-open basement Flly-atomatic sprinkler system Serviced by A-rate Kyffin Elementary Hike from neighborhood to Green Montain Open Space Offered at $365,000 Ready for some pdating Village at Montain View 2828 S. Coors Drive Loft stdy w 3-car garage w Open basement w Beatifl yard with Koi pond w Stats: Sold - call for pricing details w Taxes $ Story w Bed/baths: 3/3 w Sq.Ft: Soaring valted ceilings w Large master bedroom with a 5-piece master bath Close to Bear Creek Lake Park, St. Anthony s and ftre light rail Green Montain II Townhome 614 S. Yongfield Cort Stats: Sold - call for pricing details Taxes: $894 Style: 2-Story Sq.Ft: 1173 Bed/baths: 2/2 Beatiflly pdated kitchen All appliances are inclded Large master bedroom New windows 1-car garage with good storage Large private patio Walk to St. Anthony s or the ftre light-rail Green Montain Village W. Utah Circle 3 Beds/Baths Sqare Feet Tri-Level w/ Basement Offered at $275, Car Attached Garage Wonderfl crb appeal Great-room on main level Beatifl Hardwoods Remodeled kitchen Newer cabinets Kitchen Island Tons of light Under Contract Hge family room Open nfinished basement Converted master site Low maintenance yard Great deck and covered patio Sprinkler system New roof in 2011 Clean & netral Close to ftre light rail and St. Anthony s Stats - Under Contract Americana-Lakewood 485 S. Yongfield Cort 5 Beds - 3 Baths Sqare Feet Ranch 3- Car Attached Garage Magnificent $1,000,000 VIEWS Gormet kitchen Great room floor plan 12 foot ceilings 2 x 6 constrction Tons of storage Fll finished walkot RV Parking Extensive hardwoods Serene setting Professionally landscaped Stats - Sold - call for pricing details Montainside Townhome 241 Yongfield Drive Offered at $235,000 Style - Two Story Stats - Active Sq. Ft Story Bed/baths - 2/4 Soaring valted ceilings Main-floor stdy New windows Large over-sized garage Finished basement Taxes $ pc master bath Private deck off master Walk to St. Anthony s or the ftre light-rail Green Montain Village 1818 S. Yongfield Place 3 Beds - 3 Baths 2388 Sqare Feet Bi-Level (R-Plan) Wonderfl Cl-de-Sac location Beatiflly Updated Sothern Exposre Terrific pdated kitchen Updated baths Professional landscaping Beatifl yard Hge deck for entertaining Garden area Large office All new or newer mechanicals and roof Workshop Stats - Sold - call for pricing details (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

4 Real Estate Gide Page 4 October 2012 n n n n n n n Or Vale System Or core vales are deeply rooted in the way we do or bsiness By Rocky Reynebea The backdrop of the Rocky Montains, Green Montain, Soth Table Montain and the Dakota Hogback are constant reminders of the great place in which Jason, Jeremy and I do or real estate bsiness. We feel privileged to live and work with the residents in this wonderfl area and are prod to fnction with core vales that inclde qality services, integrity and a sensible fee strctre.. We like to think that we are good people helping other good people navigate throgh the maze of real estate. Good Basics Or hometown vale system is the fondation of or bsiness philosophy. We care deeply for or clients and when they entrst s to help them we take it personally and seriosly. We treat or clients like we wold want to be treated. We view or clients as adlts who can make better decisions when they are presented with adlt information abot crrent market pressres. We don t mislead or clients with feel-good statements that are not tre nor shy away from mentioning things that need to be mentioned. From experience, we know that the worst feelings people have in a domestic real estate transaction is that feeling of being ot-of-control. Yo cannot ever be in total control of any real estate transaction bt the feeling can be mitigated significantly by honestly knowing what is going on. The Trth and Respect We place a high premim on being honest and factal. There is a great deal of respect that develops when a relationship is bilt on good and honest dealings. Bt, it is more than that and the qestion that one has to ask is this: If a relationship starts ot with smoke and mirrors, when in fact do honesty and facts get introdced into the relationship? How can a relationship start off with telling someone what they want to hear and then switch magically to helping people hear what they need to hear? Or vales are deeply rooted - they are part of or DNA and we don t stray from them. We don t ask or clients to agree with or assessment - they jst need to know what it is. When Jason had spinal meningitis 35 years ago I gained tremendos respect for Dr. Potts when he sat s down and told s what was happening and all the risk and potential otcomes. Honestly, it was so hard to listen to bt in the end it gave s a small sense of control over a nearly ncontrollable event. That experience has never left me. Real Estate is not typically a life-or-death event. Bt, it ranks right p there in terms of creating ncertainty. So, we go with adlt information right from the get-go and I think people respect that. No Fancy Footwork When we initially meet with or selling or bying clients or conversations are rooted in real estate. We talk abot market pressres, timeline management, risk management, spply vs. demand factors, condition and staging isses etc. Most importantly we connect real estate into yor own personal economy and make sre we are doing the right thing. Sometimes that right thing is not to sell or by. These are the basics of real estate and of a good relationship. We don t talk abot all the homes we sell, how great or company is and or wonderfl market share - that means nothing to yo. And, we most certainly never talk abot how absoltely marvelos and wonderfl we are. This is abot yo and how yor needs plg into the market at that moment. We will never talk abot s, and we will never pt a client in the ncomfortable position by asking for their bsiness. If yo feel comfortable with what we have to say and we connect - yo ll say what do we do next? Sixth Avene West - 4th Filing 108 S. Eldridge Way Stats - Active Offered at $475,000 Taxes $3,686 4 Beds - 4 Baths Sqare Feet 2-story (Expanded Innsbrck) Wonderfl Cstom Qality Street High-valted ceilings 3-car garage Granite contertop Two fireplaces Snken living room Excellent landscaping Hge flly-finished basement Beatifl yard Hge patio for entertaining Serviced by A-rated Kyffin Great pride of ownership Premiere at Montainview 2318 S. DeFrame Cort Offered at $315,000 Stats: Active Taxes: $2,267 Style: 2-Story Sq.Ft: 1975 & 697 Bed/baths: 4/3 Soaring valted ceilings New designer tile in baths Hardwood floors Well-maintained yard with sprinkler Fll open basement New roof Air Conditioning Very sharp with great pride-of-ownership Nice extras Microwave Garage door opener Ceiling fans Oversized garage Close to hiking and biking trails of Green Montain and Bear Creek Lake Park A Sensible Fee Strctre Or fee strctre is based on the principle that we will never charge more than what we wold be willing to pay for the service. We have a sensible sliding scale based on price and or clients do not need to negotiate with s. Or fees are pblished in or website nder the tab Listing Interview - 25 Most Freqent Qestions. We do small disconts if there are two homes involved or larger disconts when we are registered with a new home. We also try to do 4 Pro Bono transactions a year for non self-inflicted hardships where this is no or little eqity. We are prod of or fee strctre. No Division-of-Labor Real Estate is sch a niqe belly-btton-to-belly-btton bsiness. In or view a deal cannot be assigned into some sort of division-of-labor becase all the varios facets co-mingle with each other. We all work or own deals from start to finish - yo re not passed on to a series of assistants. If one of s is ot of town another of s will take over. From start to finish we re with yo all the way. I always remember a famos qote by the late Reggie White of the Green Bay Packers. In explaining the relationship between the players and the fans he said they love s and we love them. That is a good goal - and we strive for that in all of or relationships. Green Montain Village W. Warren Avene 3 Beds/3 Baths Sqare Feet Tri-Level w/basement Offered at $255,000 2-Car Attached Garage Wonderflly maintained Oak Cabinets Lovely wood floors Clean Under Contract & netral throghot Poplar floor plan Vinyl windows Gas Fireplace Qick possession Great crb appeal Awesome backyard Private back patio Open basement Close to ftre light rail Close to St. Anthony s Hospital New roof, frnace & AC in last 10 years Stats - Under Contract (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

5 Real Estate Gide October 2012 Page 5 Village on the Lakes 101 Ward Cort Offered at $260,000 Stats: Active Taxes: $1724 Style: 2-Story Sq.Ft: Bed/baths: 2/3 Soaring valted ceilings Tons of large windows 5-piece master bath A perfect setting and a great yard with excellent landscaping Hge deck with views Qiet Neighborhood Back to green belt Finished walk-ot basement Lots of pride-of-ownership Hardwood floors and beatiflly appointed Walk to St. Anthony s or the ftre light-rail Lakewood Hills 166 Xenon Street 2 Beds/3 Baths Sqare Feet Two-story 2- Car detached Garage High demand neighborhood Lovely cortyard Nice open floor plan Hge family room Beatifl fireplace Loft Large master site Kitchen with eating space Large deck Flly-finished walkot basement Nice home ready for yor pdates Close to St. Anthony s Hospital and ftre light rail station Stats - - Call for pricing details Briarwood Hills 1030 S. Briarwood Drive 3 Beds - 2 Baths 1518 Sqare Feet Tri-level Wonderfl crb appeal Beatiflly maintained Snroom to die for! Updated kitchen with eating space Updated baths Beatifl hardwood floors Exceptional pride-of-ownership Terrific yard and lots of privacy Newer roof, frnace, AC &windows On-demand hot water Two solar systems - hot water & axiliary heat Stats - - Call for pricing details Green Montain Village W. Exposition Drive 5 Beds/3 Baths Sqare Feet Ranch Stats - Under Contract 2- Car Attached Garage Beatifl hardwoods Amazing pdated kitchen Slab Granite Cstom tile work Perfect cabinets Gas range Updated baths Under Contract Shaw carpet Flly-finished basement 2-year-old roof New water heater Wood-brning fireplace w/insert Beatiflly manicred yard Covered patio Lovely crb appeal Awesome street Close to ftre light rail & St. Anthony s Stats - Under Contract Offered at $257,500 Green Montain Village 1515 S. Zang Cort 3 Beds/2 Baths 1918 Sqare Feet Bi-Level Oversized 2- Car Attached Garage Incredible crb appeal Pride of ownership Beatifl private backyard Cl-de-sac location Perfectly maintained Clean & netral Awesome floor plan Large rooms Lots of light Some city views from the family room Stats - - Call for pricing details Green Montain Village W. Ohio Drive 5 Beds/3 Baths Sq. Ft Style - ranch 1- Car Attached Garage Beatifl hardwoods Awesome crb appeal Great street Granite contertops Updated baths Poplar floorplan Hge covered patio and a lovely private backyard Vinyl windows 6 Panel doors Close to ftre light rail and St. Anthony s 15 Mintes to downtown & Montains Close to open space and wonderfl parks Offered at $252,000 Riva Ridge Condo 519 Wright Street #107 2 Beds - 2 Baths 929 Sqare Feet Stats - - Call for pricing details 1-Reserved parking space Nicely maintained No stairs Large rooms Wood-brning fireplace Nice galley kitchen Storage closet All appliances inclded Well rn HOA with Pool and tennis corts Walk to parks and open space 15 mintes to downtown & the montains Close to St. Anthony s Hospital and ftre light rail station Lovely location fronting to a nice grassy area (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

6 Page 6 n n n n n n n Real Estate Items Ending A Co-Ownership With A Qitclaim Deed W hen two or more co-owners want to end their ownership rights in a piece of property, this type of transfer of title can take place by means of a Qitclaim deed. The co-owner will sign over his rights and title in the Qitclaim deed, and the deed shold then be recorded in the Conty Recorder's office. An exchange of money may or may not take place. A Qitclaim deed gives no warranties as to the condition of title at the time of the transfer. Qitclaim deeds are often sed between hsband and wife or between relatives. Qitclaim deeds are also often sed to cre technical defects in a title and to eliminate any potential claims against the property from persons with an ncertain or potential interest in the property. Yo can ask an escrow office or attorney to prepare the Qitclaim deed bt it is easy enogh to do it yorself. Call s if yo have qestions. Checklist for Inspecting a Home The Neighborhood Panorama West / Cedar Ridge W. Bayad Avene #5 W hat a great townhome in a wonderfl location that backs to a field and provides a very spacios feeling. Pls there s a nice yard space with a patio and trex deck. Jst perfect for enjoying Colorado s wonderfl weather. This home has tons of pride-of-ownership and is ready to move right in! The main floor incldes a hge family room with a wood brning fireplace, kitchen with eating space and an pdated half bathroom. Beatifl Pergo wood floors rn throghot the main level. The kitchen has been perfectly pdated with Maple cabinets, Corian conters and stainless appliances. Upstairs are three bedrooms and two bathrooms. The master has a balcony, hge sliding door that lets in tons of light and a remodeled 3/4 bathroom. The bedrooms are large and the decor is netral. The basement is mostly finished and has landry hookps. It s a great place for additional rec space or an office. This is a wonderfl home and is perfectly located. Close to the new hospital, light-rail, major highways, parks, open space and the Rocky Montains. Offered at $199,900. Octo New home or not, it pays to know what to look for in its strctre, eqipment and srrondings. Thogh a final assessment can and will be made by yor inspector, this checklist can serve as a check list of items to observe dring yor inspection. An extra set of eyes is always helpfl on inspections. Check the fondation, floors, walls and pored concrete. Minor settling cracks are sally not strctrally significant. Make sre there's no evidence of water seepage or moistre problems. If necessary, make sre there's a smp pmp and be sre there's excellent drainage. Check the crawl space. Check the condition of flooring, whether plank or plywood and for solid constrction of bridging and joists. Make sre there are no water marks. Make sre the attic is sfficiently inslated and ventilated. Check that the fireplace damper is in working order, and fles to the chimney are clear. Check ot heating and air-conditioning systems. Also, check the hot water system -- type and gallon capacity. How long has the present nit been in service? Check the electrical service to make sre that the standard hose crrent, nmber of circits, otlets and circit breakers are sfficient for everyday needs. If the home is older - have the sewer scoped. Bathroom and kitchen fixtres shold be in good shape. Check exterior lot and landscaping. Is it properly graded or contored? Be sre to check that fences, walls, patio and driveway are in good condition. Be sre exterior walls are sitable to weather conditions. Check doors and windows. Are they easy to open and close (or replace) for storm/screen removal or installation? Are the roof, gtters and downspots in good condition? Is the garage door or opener in good working order? Lakewood Vista 1675 S. Cole Street - B1 Offered at $142,000 Stats: Active Taxes: $868 Style: Ranch Sq.Ft: 837 Bed/baths: 2/2 Views of the common area and pool Walk-in closet Master bath New windows Garage parking Storage nit New water heater Nice views of the sothern front range Front and back decks Close to hiking and biking trails Check the sprinkler system - rn the system to see if the coverage is adeqate. Be sensible in yor inspection reqest. The negotiated sales price typically reflects the noted condition of the property. And, remember, it is not the job of the seller to bring a home p to yor standards. Use the inspection appropriately - to see if there are problems that yo cold not see to begin with. Green Montain Estates 929 S. Alkire Street Offered at $280,000 Stats: Under Contract Taxes: $1800 Style: Bi-Level Sq.Ft: 2155 Bed/baths: 4/3 Under Contract Beatiflly remodeled kitchen Updated and great pride-of-ownership RV parking Front deck to enjoy views Serviced by excellent schools Newer carpet & paint Mintes to hiking and biking trails Pristine yard with hot tb Walk to St. Anthony s or the ftre light-rail Rocky, Jason and Jeremy - R (Office) ( Rocky s Cell) RLESTROCKY@AOL.COM

7 ods of Green Montain October 2012 Page 7 College West Estates 68 Yank Way 3 Beds/3 Baths Sqare Feet Tri-level w/basement Offered at $300,000 2-Car Attached Garage Awesome open floor-plan Beatifl wood floors Updated master bath Perfectly appointed Large family room w/bar Soaring Valts Under Contract Backyard oasis In grond pool Covered patio Great for entertaining Walk to ftre light rail & St. Anthony s Hospital - Special Opportnity Lots of storage in nfinished basement Riva Ridge Condo 479 Wright Street #307 Stats - Sold - Call for details Taxes - $653 Bed/Bath - 2/2 Sq. Ft carport & 1 reserved parking Nice kitchen with tile floors Brick fireplace All appliances inclded Great HOA Well maintained and pride-of-ownership Excellent schools Soth exposre with some views Storage closet Lakewood Vista Townhome 1876 S. Cole Street 2 Beds/2 Baths Sqare Feet 1143 Style - Ranch Taxes - $1, Car Attached Garage Awesome view of the Sothern front range Qiet Location New Carpet Strong HOA Pride-of-ownership Mintes to the hiking trails of Green Montain and Bear Creek Lake Park Stats - Sold - Call for details Plte at Green Montain Village W. Yale Place Offered at $275,000 Stats: Active Taxes: $2014 Style: 2-Story Sq.Ft: Bed/baths: 4/4 Soaring valted ceilings Beatifl granite conters Cstom tile and pergo floors Cstom deck Low maintenance yard Finished walk-ot basement Close to hiking and biking trails of Bear Creek Lake Park and Green Montain Edgewater - Complete Remodel 2242 Lamar Street Stats: Sold - Call for details Taxes: $1098 Style: Ranch Sq.Ft: 1050 Bed/baths: 2/2 Everything new Beatifl bamboo flooring Granite contertops New windows Designer tile In-wall speakers Pottery barn finish Qiet location Large yard Briarwood Hills W. Ohio Drive 3 Beds/2 Baths 1238 Sqare Feet Tri-Level Offered at $215, Car Attached Garage Awesome floor plan Beatifl Hardwoods Updated kitchen - Oak cabinets Updated baths Cstom tile work Vinyl Windows New Roof Newer high-efficiency frnace Perfectly Appointed & Maintained Private back yard Hge patio Walkot basement Clean & Netral Close to ftre light rail & St. Anthony s 10 mintes to downtown or the montains Amazing Lakewood Home 1195 Everett Cort 4 Beds/Baths Sqare Feet Stats - Sold - Call for details 2- Car Attached Garage Perfectly Maintained Awesome floorplan Open eat-in kitchen 4 bedrooms on the main level Two beatifl fireplaces Oversized 2-car garage Amazing park-like backyard Backs to wooded lot Walk to Light Rail station 2 inches of ditch rights Fll finished basement with hge rec room y - Real Estate Professionals (Jason s Cell) (Jeremy s Cell) L.COM JREYNEBEAU@AOL.COM JKENDALLMB@AOL.COM

8 Rocky, Jason and Jeremy s Page 8 October 2012 THE PRICE TUG-OF-WAR The competing pressres of inflation, depreciation and appreciation Green Montain I W. Virginia Avene Stats - - Call for pricing details Taxes $1,092 3 Beds - 4 Baths Sqare Feet 2-story Beatiflly-pdated kitchen with tile floors and a breakfast bar 2-car carport Separate eating space Living room has Pergo floors Excellent HOA with commnity pool Flly-finished basement Private back patio Master site with walk-in closets Green Montain Village W. Mexico Place Style: Ranch Sq.Ft: Bed/baths: 4/2 Taxes: $1834 Qiet cl-de-sac location Great condition Low maintenance yard Finished basement Above grond pool Large lot Hardwood floors One-of-a-kind 3-car detached garage/workshop with attached patio - wow! Qiet cl-de-sac location Mintes from hiking and biking trail Stats: - Call for pricing details Green Montain Village W. Tennessee Place 5 Beds/3 Baths Sqare Feet Style - Ranch 2- Car Garage Wonderfl street - Great crb appeal Perfectly maintained Beatifl hardwoods Vinyl windows Freshly painted New basement carpet New sprinkler system Newer frnace and A/C Flly-finished basement Stats - - Call for pricing details By Rocky Reynebea R elative to real estate - there are three fndamental reasons why vales either rise or fall. First, and foremost, is INFLATION followed by APPRECIATION and spiced p a bit with the complication of DEPRECIATION. Inflation is when the cost-to-bild a home goes p; appreciation is when the grond nderneath the home goes p in vale and depreciation is the natral aging that all bilding strctres experience. Historically, real estate has been a great investment becase it is a natral hedge against inflation. It is not always a great investment however. Detroit, where they tear down flly-depreciated homes, is a classic example. When it comes to real estate - location is everything becase location, in large measre, offsets depreciation! In the end, the vale of a home is a tg-of-war between inflation, depreciation and appreciation. Generally speaking, both inflation and depreciation are niversal in natre - the cost to bild a home is similar across the contry. There may be slight local differences bt, for the most part, frnaces, 2 x 4 s, bricks, windows, concrete, labor, etc. are similar from coast to coast. The vale of the grond nderneath the home, however, is not niversal - an acre of land in Beverly Hills is vastly different than an acre of land on the eastern plains of Colorado. As demand for land increases that land appreciates in vale. That is what the term location, location location is all abot. Spply vs. demand is reflected in appreciation. WHAT CAUSES INFLATION? At its roots inflation is a simple thing - it is too many dollars chasing too few goods. Governments control the spply of money. To keep prices stable the amont of money needs to reflect an expanding or contracting economy. If the Federal Reserve wants to speed p the economy they expand the spply and if they want to slow it down they contract the spply. On the chart to the right yo can see that dring the depression the money spply was overly contracted and in the 70 s it was overly expanded. Sometimes these decisions are prely political and they expand the spply of money to make the economy move faster or to prop-p a natrally correcting economy. Us lay people call this printing money and in economic circles it is called Qantitative Easing or QE. Expanding the money spply manifests itself in lower interest rates and an easing of lending practices. It is happening right now with the advent of QE1, QE2 and QE3. Of corse it is a never-ending cycle - so inflation is endemic and we shold all plan accordingly. Too mch inflation is a bad thing becase it deteriorates the vale of or life savings. As a society we are generally accepting of small amonts of inflation. This is not to jdge this monetary policy bt rather jst to state a fact-of-life. Again, if yo look at the graph to the right yo can jdge for yorself. WHAT CAUSES APPRECIATION? If home vales were prely a fnction of the cost of bricks and sticks then vales wold be the same across the contry. That is clearly not the case - why? Becase grond is almost prely a fnction of spply vs. demand. More people want to live in Denver than in Rockwell City, Iowa so grond is more valable and ths hosing is more expensive. Contined on page 10 - Why yo shold by a home now! Historical Inflation Rates Yearly Decade Year Annal Change Change % % % 26.6% % % % % % % % % % % 31.75% % % % % % % % % % % 58.6% % % % % % % % % % % 112.4% % % % % % % % % % % % % % % % Doble Header Ranch Estates 8557 S. Davco Drive Co/op Sale with Re/Max Bear Creek Village W. La Salle Circle 4 Beds - 3 Baths Sqare Feet Two-story Stats - - Call Car Attached Garage Best location on an incredible street Lovely views Excellent condition Perfectly maintained Beatifl hardwoods Cstomized floor plan Tons of natral light Hge deck to enjoy the views Nicely manicred lot Matre landscaping Walkot basement ready for finish High-demand neighborhood (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

9 Real Estate Gide October 2012 Page 9 Snowbird Condo 430 Zang Street #106 2 Beds/2 Baths 1174 Sqare Feet Ranch Stats - Active Reserved Parking Space #173 Large open floor plan Clean & Netral throghot - Two fll baths Landry room No stairs 1/2 block from an amazing park Walk to ftre light rail and St. Anthony s Hospital - Well-maintained neighborhood Pool & Tennis Corts Offered at $112,000 Premiere at Montainview W. Amherst Way Style: 2-Story Sq.Ft: Bed/baths: 4/3 Taxes: $2034 Soaring valted ceilings Qiet front porch 5-piece master bath Wonderfl deck Large over-sized garage Finished basement Close to hiking and biking trails and Bear Creek State Park Stats: Sold - Call for details Green Montain Village 2258 S. Eldridge Cort Offered at $219,600 Stats: Active Taxes: $1273 Style: Front to back tri-level Sq.Ft: 1086 Bed/baths: 3/2 Qiet Location Valted ceilings and a nice open floor plan All appliances are inclded Private side patio and a great backyard Close to hiking and biking trails Calahan Sbdivision 7424 W. Bails Avene 4 Beds/2 Baths 1784 Sqare Feet Bi-Level Wonderfl street with nice setting Nicely Updated Brazilian wood floors New carpet, paint, roof & gtters and contertops Large backyard Hge trees and deck to enjoy Colorado Special home and good vale Stats - Sold - Call for details Capitol Hill Condo 1528 Emerson Street #1 2 Beds/1 Baths 659 Sqare Feet Ranch Stats - Active 1- reserved Parking space Walkers Paradise Awesome hardwoods Charming layot Great setting Granite contertops Stainless Stove Updated Bathroom French doors Lovely Fixtres Window AC Common landry area Excellent common area Offered at $125,000 Green Montain I W. Alameda Drive 3 Beds/3 Baths 1576 Sqare Feet Two-Story Stats - Sold - Call for details Instant eqity opportnity Fix-p property Very nice floor plan Hge rooms and a nice sized patio 2-Carports First home byer special Excellent HOA Commnity pool Close to hiking, biking, hospital and employment centers Green Montain Estates 557 S. Gardenia Street 4 Beds - 4 Baths Sqare Feet Raised Ranch Taxes $3,490 Tremendos montain and city views - the best! Snken living room with fireplace Wrap-arond deck that takes fll advantage of the VIEWS! Wonderfl cstom floorplan with high valted ceiling Stats - - Call for details The Landing at Standley Lake W. 84th Circle 4 Beds/5 Baths Sq. ft & 1097 For Level Oversized 2- Car Garage Phenomenal location Backs to lovely greenbelt Deck to enjoy setting Great street & crb appeal Awesome open floor plan Hge rooms Soaring valts Flly-finished basement Hardwoods Stats - Sold - Call for details (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

10 Rocky, Jason and Jeremy s Page 10 October 2012 Other Broker Co/op Sales Green Montain Village W. Iliff Avene Co/op Sale with Modern Real Estate Leawood 6194 S. Eaton Cort Co/op Sale with First Prims Real Estate Amberwick 106 S. Holman Way Co/op Sale with Metro Brokers - Joe Bilicki Green Montain Photographer Trns Pro C hristy Lehnerz is a local photographer in or area who has recently decided to trn pro. She is combining her love of children and families, a creative eye, beatifl Colorado Scenery and a very reasonable price. In growing her bsiness she is offering ridiclosly low introdctory rates for newborn/infant, family and child portraits and senior photos. Christy s love for photography has been revived in photographing her two beatifl children, and she loves working with families to captre important memories and milestones in their lives. She has experience and training in many different areas of photography, and wold love to work with local families. Yo can check ot her portfolio at Christy is a Green Montain resident - yo can reach her at or her at christy@lehnerzphotography.com. Mention this article for 10% off yor next session! Contined - Why yo shold by a home now. That relatively higher demand can be for different reasons - for example - sn-belt vs. rst-belt, growing local economy vs. declining local economy. When home prices rise faster than inflation - that is appreciation. For homes to move from jst a hedge-againstinflation, a robst economy is needed. Witness hosing vales in Denver dring the oil boom of the 70 s vs. the oil and minerals bst of the 80 s. Dring a growing economy or individal wealth is expanding with higher pay based on expanding prodctivity levels. For homes to trly appreciate growth is mandated. A single family home, in a good location, will keep s even with inflation bt will move to an appreciating investment in a growing local economy. What Cases Depreciation Of corse this is more complicated than it appears becase while homes inflate and/or appreciate they also depreciate at the same time. Homes depreciate when the condition is not kept pto-speed or the location loses demand. Depreciation is mitigated a bit becase of the constant tg-of-war between the three factors of inflation, depreciation and appreciation. Yo can see examples of depreciation in yor own neighborhood where there are vastly different prices between a well-maintained home and one that is not well-maintained or pdated. Depreciation is a fact of life also. WHAT DOES THIS MEAN TO YOU! This sed to be a simple answer also becase both inflation and growth were endemic. Personally, I believe in America and as a society I believe we have a claim on an expanding and growing economy with increasing wealth for all that will work at it. What role does real estate play in or personal lives given this tg of war? Frankly, at worst we will have jst inflation and at best we will have both inflation and appreciation if we by in good locations with expanding economies. All real estate is local! How Can I Benefit I sppose I am jst stating the obvios becase I think we all know this intitively. Maybe I se nsal words or state it differently, bt we all know this intitively. In any event inflation is part of or lives and we can harvest appreciation if we by homes in great locations. In my view, Colorado has both of those dcks in formation. Most economists are predicting higher levels of inflation. When yo bmp 3-4% mortgage rates p against higher inflation there is very clear evidence that real estate will benefit. Think abot this - a 3.5% loan in a world of 5% inflation is almost like having free money. Then there is the tax benefit. Problem solved! In what ever way makes the most sense for yo - take advantage of these rates becase they are once-in-a-lifetime rates. Becase of my fiscally conservative natre I wold however add a different twist. I wold say to by (or refi) the most sensible home (or rental) that is reflective of yor family economics and stability and finance with a 15-year loan. Given the many ncertainties in the world - debt-free makes sense for most people. Bt, that is jst me. If it makes sense - reposition yor real estate financial life to reflect these mortgage rates. This is trly a once-in-a-lifetime opportnity. Morningstar 2651 S. DeFrame Circle Co/op Sale with Coldwell Banker Charterwood 2345 S. Harlan Street Co/op Sale with Colorado Home Realty WE ALWAYS APPRECIATE COOPERATION WITH THE REALTOR COMMUNITY. THANKS (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

11 Real Estate Gide October 2012 Page 11 One-Phone-Call Soltions ACADEMY Services W. Bayad Ave. Golden, Co Carpet Cleaning R e n t a G y Inc. Remodeling & Handyman Service Repair, Replace, Remodel Gy Goddard 22 Years Experience Licensed / Bonded / Insred n Carpet Cleaning - Trck Monted n Area Rg Cleaning n Upholstery Cleaning n Tile and Grot Cleaning n Pet Stain & Odor Removal n Specialty Stain and Spot Removal n Reptation - Solid n Experience - 19 years n Edcation - Certified n On Rocky s Best Recommendation List Serving Lakewood, Golden & srronding commnities since AcademyServices@comcast.net Best cleaning ever... or yo don t pay Ed Reynolds - Owner Carpet - Hardwood Floors - Tile & Stone Prestige Interiors Green Montain Neighbor for 42 years Certified Installer with 26 Years Experience Dave Drelicharz PrestigeInteriors@msn.com Other Broker Co/op Sales Conifer - Lowan Lost Horizon Drive Co/op Sale with Presidio Real Estate Grop The Smmit W. Warren Drive Co/op Sale with Real Living Properties Holland Heights 1180 Independence Street Co/op Sale with Keller Williams Sixth Avene West 364 Gladiola Street Co/op Sale with Metro West Real Estate Soltions Villa West Townhomes 8331 W. Virginia Avene Co/op Sale with Colorado Home Realty WE ALWAYS APPRECIATE COOPERATION WITH THE REALTOR COMMUNITY. THANKS (Office) Rocky s Cell Jason s Cell Jeremy s Cell rlestrocky@aol.com jreynebea@aol.com jkendallmb@aol.com

12 Rocky, Jason and Jeremy Page 12 October 2012 ROCKY, JASON & JEREMY S Real Estate Gide Pblishers - A Family Affair Jason Reynebea - rlestrocky@aol.com (O) (C) Jeremy Kendall - jkendall@aol.com (O) (C) Rocky Reynebea - rlestrocky@aol.com (O) (C) Who Makes it Perfect Sandee Reynebea - Sandeetheqilter@aol.com (O) Spporters-in-Chief Elizabeth Reynebea Jennifer (Reynebea) Kendall CIRCULATION - 14,000 + Neighborhood Distribtion Amberwick 92 Americana Lakewood (Mom s Hill) 85 Bear Creek Village 351 Cedar Ridge (Panorama West) 41 College West Estates 107 Fox Point Townhomes 75 Green Montain I, II & III 591 Green Montain Estates 1051 Green Montain Village - Pre Green Montain Village - Post Morning Star 69 Highland Townhomes 13 Lakewood Hills Townhomes 90 Lakewood Visa 246 Mesa View Estates 618 Montainside Townhomes 57 Plte Homes 280 Riva Ridge Condos 171 Ryland Homes 391 Sixth Avene West Proper 539 Sixth Avene West Townhome - I & II 174 Snowbird Condos 516 Tamarisk Towhhomes 92 Tellrride and Tellride West 431 Village Homes (All Prodcts) 676 Village on the Lakes 90 Miscellaneos Distribtion Past Clients 1,232 Relocation Companies 102 Local Realtors 890 Investors 907 Local Bsiness with 10+ employees 340 Other Marketing Vehicles Local and National MLS l Realtor.com REColorado.com l Yahoo l Google Metrobrokersonline.com l Denver s MLS Metrobrokersonline.com Editor s Notes The only listings displayed are those in which we had involvement with either the listing side or selling side. Properties are displayed throgh the Active, Under Contract and Sold stages and only displayed as in one isse. Q i e t l y G o i n g A b o t O r B s i n e s s f o r 3 7 Ye a r s Excellence in Real Estate Metro Brokers - Reynebea & Company 215 Union Blvd. #215, Lakewood, Co (Directly across from Jason s Deli) Pblished by Reynebea and Company Copyrighted No part of this may be reprodced in whole or in part by any means withot the express written permission of Reynebea and Company - Metro Brokers. Jason Reynebea Son Beth Reynebea Daghter-in-law Jeremy Kendall Son-in-law Jennifer Kendall Daghter Rocky Reynebea Father Metro Brokers - Reynebea & Company Real Estate Excellence Since Jreynebea@aol.com Jkendallmb@aol.com Rlestrocky@aol.com 215 Union Blvd. #125, Lakewood, Colorado Sandee Reynebea Mother