We drove.  Parading through the cone zone in heels and skirts didn’t seem like a great idea.

I love Chopper’s for many reasons. One being that while I was in graduate school, I waited tables there.

Of course, way back then, it was still Rick’s Cafe. Rick’s was the notorious “older” singles hang out in Denver in the 1980’s - Denver’s original Fern Bar.  Before Cherry Creek was a big deal, before we’d heard of “Cougars” and while big hair was still very much in.

“Rick’s Girls” got special treatment. We got free shots on Saturday nights.  The restaurant and bar were so crowded that we’d have to heave the giant trays above our heads and then start kicking the customers in the backs of their legs to get them to shift enough to open up a path for us.

In 1996 the restaurant changed hands and Chopper Traviglini opened up the new restaurant as a local sports bar.  Chopper was the legendary trainer for the Denver Nuggets for many years, and he was well known around town.  The bar and restaurant got a slight remodel from the Rick’s days, and then reopened with TV’s everywhere and better than standard bar food.

Chopper’s made the list for Top Sports Bar in this year’s edition of 5280 Magazine’s Top of the Town section.   5280 says you’ll come for the TV’s but, “you stay for the killer nachos and juicy hamburgers - or the 18 beers on tap.”

I particularly like their Castlewood Canyon salad with grilled chicken.  One of the better salads in Cherry Creek, in my humble opinion, and I’ve tried them all.

So dribble on over to Chopper’s, but avoid the construction.

Contact me any time you want more information on Denver Real Estate. Or search for a new home at GretchensDenver.com.

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Our average days on the market has been reduced by 5 and our average sale price rose by $15,412. The single family residence average price rose $21,246, but the condominium average price fell by a whopping $10,515. That’s curious to me.  With the number of condo listings dropping, you would assume that the resulting demand would drive prices up.  It’s probably just a reflection of the basket of properties that happened to sell last month.

Our local real estate market is strengthening day by day. Why?

Denver’s employment is relatively stable, and in some sectors is growing. While we’re certainly having budget struggles at the local and state level, we’re not bankrupt.  Many people from other states (California) are moving here to benefit from our fabulous lifestyle, great schools and more stable economy.  California (my home state) has more out-migration than in-migration right now. Colorado is the opposite.

When you compare our market statistics year over year, we’re certainly down quite a bit from last year. And our average sale price is down by nearly $45,000 from the high set in 2006.  But given the circumstance of the world, the events that have shaped our economy since last fall, we’ll take it!

Searching for a Denver home?  Contact me for the latest update on specific Denver neighborhoods.

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Here’s a list of fireworks around Central Denver. We particularly love the Glendale fireworks, and plan on checking the show out tonight after a neighbor’s bar-be-que.

Glendale

Infinity Park - 950 S. Birch St. - Glendale; July 3 : 9 p.m.

Coors Field

Coors Field - 2001 Blake St - Lodo; July 3 : 6:10 p.m.

Edgewater

Citizens Park - 2431 Chase St. - Edgewater; July 3 : 4 p.m. - 10 p.m.

Invesco Field

Invesco Field at Mile High - 1701 Bryant St. - Denver; July 4 : 7 p.m.

(Fireworks begin after the Outlaws game.)

Four Mile Historic Park

Four Mile Historic Park - 715 S. Forest St.; July 4 : 10 a.m. - 4 p.m.

Have a fun and safe 4th of July.

If you’re hanging around wanting to look at pictures of homes for sale, check out GretchensDenver.com for the most up-to-date available listings in the Denver Metro area.

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The thing is, we never totally crashed and burned like other cities did. Prices went down for sure and according to yesterday’s S & P - Case Shiller Report, we’ve seen depreciation of 4.9% since this time last year. Compare that with Phoenix, down 35.3% year over year.

Since last month, Case Shiller reports that Denver’s prices have appreciated 1.5%. That’s an awesome bounce.  Some analysts think this may be a seasonal adjustment, and may not signal a recovery.

I disagree.

Our available inventory hasn’t risen significantly this year. We didn’t experience the typical big bounce in available listings in the Spring.  For that reason, we’ve been able to stabilize the market.  The ratio of properties available for sale and days on the market is stable.  We still have a stratified market, and we need to see high end properties shake out some inventory.

High end sales are increasing slightly too.

I looked up Park Hill and Hilltop sales since April yesterday, several million-plus sales have been recorded.  Jumbo rates have become more competitive in recent weeks and there are cash buyers out there looking for a deal on their dream home.

Appreciation follows a reduction in time on the market.

As the days on the market have fallen, as we’ve begun to have multiple offers, as rates have remained competitive we’ve had appreciation re-enter the Denver market. We won’t get back to double digit appreciation very soon.  But buyers beware - if you don’t get off that fence soon, you may be looking back over your shoulder in regret.

Margaret Jackson, the Denver Post’s Real Estate Correspondent wrote more about the S & P - Case Shiller Report in this morning’s paper. Read to the end!

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The Stapleton redevelopment area is proving to be a vibrant and exciting community.  Denver Real Estate has a fabulous mix of old neighborhoods and close-in new neighborhoods in Lowry and Stapleton.

Stapleton’s lifestyle includes pools and parks, more than one community shopping/dining area, bike and running paths, and Denver’s own Central Park.

You can purchase new construction at Stapleton from several builders, but you also have the opportunity to buy a resale home and avoid the wait, the landscaping, buying window coverings, and living in a 12 month construction zone.

This Wonderland Ashton model is currently available for $359,000 and has a beautifully finished basement, hardwood floors, a 2-car attached garage, a huge open kitchen and a lovely porch facing the garden court.

If you’re interested in seeing 7789 East 25th Avenue after you’ve looked through the special presentation website, click “contact me” to set up a showing.

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Denver’s new Zoning Code is currently in the community feedback phase.

The new code has been in the works for several years, and Denver’s Zoning Code Task Force and the Community Planning and Development group are currently seeking public input.  There have been several community meetings to review the code in specific neighborhoods, and you still have the opportunity to attend any of the remaining meetings.

The changes to the code will be quite drastic in some instances.  Currently in Denver, we have R1 (single family), R2 (duplex or carriage house), R3 (multi-family) as our primary residential zoning designations.

If you are thinking about buying a property that is currently zoned R2 because you would like to build a duplex there or have your mother-in-law move into a new carriage house above the garage - beware!  Your property could potentially be “down zoned” to single family after the code changes in the fall.

Become informed about the city’s zoning changes if you live in the city, or if you’re considering purchasing a property here.  You’ll want to know how the new transit area zoning might affect your property, what zoning could allow next door or across the street, and what the planning committee means by “areas of stability.”

Highest and best use might not be as high for some properties after the zoning code is changed.  Other properties may benefit from a “better” zoning designation, increasing their highest and best use.

The web site for more information is www.NewCodeDenver.com.  I plan on attending a meeting next week, and I’ll post more information then.

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One of the wonderful things about being a Denver Real Estate specialist, and especially working in relocation, is that I get to explore the fun things happening in our city and report them to you and to my clients.

The Old South Pearl Farmer’s Market didn’t actually have much in the way of produce to offer and I left with my basket empty. If it’s an actual farmer’s market you’re looking for, you may want to try the Cherry Creek Farmer’s Market.

I did enjoy looking at the dozens of doggie adoption booths, and walking through a few of the boutiques in the neighborhood. One of my favorite shops, 5Green Boxes was right on the same block and open for the Sunday traffic.

There were also flower booths, bread booths, a lady making delicious home made cookies, gluten free pasta and ice cream. Not your typical farmer’s market, but fun nonetheless!

Then, I rode my bike home and went to hold an open house - tornado warnings, rain and hail that afternoon! I hope the doggies got to safety.

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When I returned, I learned that resales of existing homes increased again month-over-month.  This is the fourth consecutive month that number of sold properties increased. We’ve seen the bottom, it would appear.

While we may have seen the bottom, we’re still sitting on the floor.  70% of the homes sold were priced under $300,000. That signals a market pick-up in the lower price ranges, but we’re only just beginning to see houses in higher price points getting offers.

Today, I processed all of the office files that were piled up on my desk waiting for my return. In that pile were a few sales between $1mm and $1.5mm. That has been a rare occurrence since early 2008.

It is nice to see the average sold price creeping back up. April to May it increased over 4%.  The high was in 2006 at $303,000.  We also aren’t adding a tremendous amount of new inventory. I was hopeful that the number of active listings would stay steady through the spring to give us the chance to sell off the inventory we already have.  That’s another strong indicator that the market is much healthier than 6 months ago.

Deals are tough to keep together. Real estate agents are working 10 times harder to get transactions to closings.  Things seem to come apart at inspection and appraisal much more often than they used to.

Sellers - consider pre-inspecting their home before putting it on the market. Then, get the major safety and habitability issues taken care of before a buyer makes an offer.

Buyers - ask to see the sold comparables in the neighborhood surrounding the house you want to make an offer on. That way, you can make an educated offer and avoid appraisal issues.

Now is the time to jump in - you could be looking back over your shoulder in a year or two and wish you had gotten off the fence. Rates are surely going to continue to rise through the end of the year. We still have a great combination of low prices and low rates - a combination that will wind down as the recession ends.

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Denver was cited as one of 3 major metropolitan areas with a slight uptick in home values, in this case .1%.  While this may seem like a tiny bump, combine it with the Today Show appearance of Barbara Corcoran who placed Denver as the number 1 recovering city and the fact that houses in low to medium price ranges are getting multiple offers and you’ll begin to see a pattern.

Denver is in the national and local news because our economy tends to be counter cyclical.  We hit the skids earlier than most cities and we’re rebounding first. We like to be on the cutting edge. Or maybe we were the canary in the coal mine.  In 2007 we led the nation in foreclosure sales, now we’re getting multiple offers and the days on market is shrinking in certain price points.  You can see in this chart from Keeping Current Matters, that as months’ supply goes down, appreciation begins to go up.

I was interviewed by Bazi Kanani of 9 News yesterday. She wanted to know what the market fundamentals were that boosted Denver’s real estate market, and what a practicing real estate agent is actually experience at ground zero.

If your home is priced between $150,000 and $500,000, you’re competitively priced compared with the competition and your house is in top showing condition then you should get an offer within 2-3 months at the longest. If you don’t, then the price needs to come down.

Luxury homes and higher priced properties are taking longer to sell, and if you want to sell your luxury home you must be exceedingly well priced and prepared to negotiate.  You may also need to factor in regular and aggressive price reductions to get a sale.

Who knows what lies ahead? As Roseanne Roseanna Danna said, “if it’s not one thing, it’s another.” Here’s to a recovering Denver market with out “another.”

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Last week, the Today Show asked Barbara Corcoran to rank the top 5 recovering cities in the U.S.  Corcoran cited Denver as the number 1 recovering city. 

She used employment, strength of the residential market, weather and education level of the population as factors in her research.

This is good news for Denver, and we’re definitely feeling like we’re turning the corner in certain price ranges. It’s still a stratified market, though, and we’ll really feel healthier when our $million plus homes are selling too.

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