Denver Real Estate & Colorado Senior Property Tax Exemption

Owners of Denver Real Estate may not know that there is an exemption for seniors that got re-instated for the property taxes that are due this year. The Fort Morgan Times reported this last May in an article about Govenor Hickenlooper’s signing the budget bill.

Requirements to qualify are: One owner must be 65 years of age; You must have lived in the home as a primary residence for the last 10 years. This may cause 50 percent of the first $200,000 of actual value of a home exempted from property tax, there by reducing your tax bill.

All of Colorado qualifies. So, if you live in Highlands Ranch, which is in Douglas County Colorado, go to the Assessor’s website and look for the Senior property tax exemption application. Follow the directions on the form.

Pete Doty, this Denver Realtor found the form for his Highlands Ranch home at http://www.douglas.co.us/assessor/senior-property-tax-exemption/ . All Colorado assessors should have the information on their websites. Google your counties assessor’s site.

Be cautious as there is also a tax deferral program, which is a loan which does require re-payment, typically when the real estate sells.

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Denver Real Estate Market Statistics

Every month I attempt to follow the Denver Real Estate market and how single family homes are performing, believing that where they go the rest of the market will follow. Some would call it a “key indicator”. I believe it and the volume of sales are the two most indicative of the real estate market’s health. And to help you see what is going on in Denver, Annual

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Growing up in Highlands Ranch

A Highlands Ranch memory from my daughter who now lives in Scotland:

My best memories of Highlands Ranch are of exploring the green belt behind our house. There are parts of it, just along the path to the rec center, that are far enough away from the houses to feel like you are in the old wild west. We would spend hours exploring the fields and ditches around the area, and there were always other children playing nearby. It made a wonderful backdrop for all kinds of imagination play – we were often explorers, or pioneers. And we would also reinact favorite films with the prairie as our scenery.
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Tax returns and Buying a home in Denver

If you are thinking about buying a home, here in Denver, or anywhere, and you need a loan to get the job done, make sure to file your tax return electronically and mail a check. Last year we filed by mail and it took until late July before the ‘official” IRS form got back to the lender who was doing the re-finance.

Real Estate advice is not just about houses. Denver Realtor, Pete Doty, has a handle on what you need to get the job done and is embarrassed about not knowing this last year.

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Denver Real Estate in 2012 almost reaches new HIGH PRICE

The Denver Real estate market, according to Pete Doty, Denver Realtor and owner of this blog site, in 2013 may be a race to the contract kind of year for home buyers and sellers. “Average prices increased a lot last year as you can see from my newsletter” at http://www.petedoty.com/Newsletter.  “We saw the average price of a single family home rise from about $280,000 in 2011 to over $304,000 in 2012 or an 8.5% increase in “average” value”. This would not be significant in itself except the number of closed sales increased in Denver from 31,400 in 2011 to over 37,000 in 2012, an 18% increase in volume in one year”. Both comparison charts are in the newsletter.

Pete Doty has been a Denver Realtor

since 1985. He owns and operates his own company within the Metro Brokers licensing agreement. He offices in Littleton, and has lived in Highlands Ranch since 1989.

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DRIVE BY NETWORKING, a cold feeling in Denver

Many years ago I was introduced to business after hours events in Denver which are billed as an opportunity to meet and greet many people. They are a time to relax with a drink in hand and see old friends. Similar daytime networking events have started up in Denver, mostly at coffee houses and other public venues where they charged a fee to visit. Their wrinkle is that they have everyone introduce themselves in 30 seconds. That really didn’t allow me to get to know them well enough to feel comfortable recommending them.

What really comes from these casual meetings/meetups? It is hard for me to see the benefits. I am looking for something more. I want a group more focused and determined to be advocates for one another, I wanted people I could get to know and be able to trust when I recommend them to someone. Professional sales people recognize that their reputation and recommendations carry amazing influence and value. These meet – ups seem to be focused on smaller products.

When I first started real estate in Denver I was told to find some good “bird dogs”, folks who would stay alert for my business opportunities and help me grow. The hard part;  regulated by the Colorado Division of Real Estate;  is that I cannot compensate them for their efforts! So a “bird dog” co-operative is needed here! Mortgage lenders have the same issue, as do insurance agents, financial planners, etc.

About 20 years ago I was introduced to the concept of “Leads Clubs” where folks were doing exactly what i was looking for. This advice came from some very smart real estate trainers, who are not from Denver. These are a smaller groups who exchanged business opportunities they had found in the last week. The trouble was, as a Denver Realtor, all the clubs had my category filled, so again I listened and when a spot came available, I was first in line with a check. I joined the Southglenn Chapter of Ali Lassen’s Leads Club. I have 20 “BIRD DOGS” plus a number who are no longer members but are still advocating for me.  It works but it does take dedication and persistence.

I discovered another great benefit to my clients and friends: I suddenly had a large network of dependable people I could send business to, as well as a sounding board of folks who know me for all those crazy ideas I get (they are the public after all). The best part was when I started inviting clients and customers to join, because now I had a built in fan club and it was a synergistic relationship for all.

If you, or someone you might know here in Denver, could benefit from a group based upon the mutual benefits of keeping an eye or an ear peeled for business, drop me a note. 

 

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Denver Real Estate Do’s & Dont’s for 2013

If the Denver Real Estate market has you thinking about moving this year, this is a good read. I just wrote it up, so take a look at some good advice on what real estate buyers should be doing in Denver in 2013. Sellers might want to take note as well. Take a look at http://denverhomesource.com/denvers-real-estate-market-creates-some-unique-first-time-buyer-dos-and-donts/.

Pre approval, DON’T FALL IN LOVE, future resale, not like a stock portfolio…Talk about all things real estate in with Pete Doty, Denver Realtor since 1985

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Denver Real estate Market Update

This Denver real estate update shows that there are 28% fewer homes on the market this year than last year at this same time, and the average sale price in Denver has increased by over 11% from a year ago, according to MetroList, the Denver multiple listing service. I have always contended that where the single family home market goes, the condominium and townhouse market will follow, therefore I have concentrated my reporting on the single family home. Last month, however,  the average sale price for a condo/townhome increased by over 29% from the previous year, and 10% from the month before.

The real estate market in Denver continues to tighten due to the inventory of homes shrinking, yet interest rates are at all time lows allowing you to buy more house than ever before! When a house gets close to all the parts you are looking for because it is likely that someone who saw it yesterday may still be thinking about it, or could be writing an offer.

2013 will be a year of multiple offers on homes in Denver and you best have a Realtor who knows how to position you in the best possible light to the seller. Sellers need an experienced Realtor who has handled multiple offers before.

 

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Remodeling is an option in Denver according to Realtors

The March/April issue of CRS Magazine they Remodeling Magazine on some minor fix ups, their average costs and the percentage you might expect to recover from doing the work. Here is what they published:

Remodeling Magazine Cost vs Value

Pete Doty provides this useful information on the remodeling projects you might be considering. Call Pete to schedule and evaluation of your home.

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Agency…Only 3 ways in Colorado

A Realtor can be a Buyer’s agent
A Realtor can be a Seller’s agent
A Realtor can be a Transaction Broker.
There is NO DUAL AGENCY in Colorado
If you need to know more about this talk to a licensed Colorado Real Estate Broker who posts their own blog comments.
Experience in the local market is way different than sales experience in other states.

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