Are you a Fantasy Football fan?  Do you track those hidden gems on the Waiver Wire?  If so, then the following metaphor should make sense.

Make sure to keep your eye on Jefferson Park because while LoHi and Riverfront Park are the names everyone knows… within a season or two the top performing neighborhood in Denver might be Jefferson Park.

Jefferson Park's Restaurant Boom

We have been watching the boom of Jefferson Park and the fast pace of interest that has developed around this magical neighborhood with an amazing location. Now it seems we are tracking the growing boom of Restaurants in Jefferson Park.  This week our highlight is on the next to likely open.

Sartos, being brought to us by Brian Laird who worked at one of our favorite restaurants Barolo Grill, is bringing his new dining experience to century-old corner space at 2900 West 25th Avenue.

The cuisine is reported to be Northern Italian, which fits in nicely with the tenure he has had at Barolo Grill.  The space is supposed to be large with not just one but two outdoor patios.  But I’m guessing if they haven’t opened their doors yet, that the patio seasons won’t start up until the spring.

This is the second restaurant story for Jefferson Park in the past month (remember when we shared the details about Sexy Pizza opening in January).  Usually the trend of restaurant openings is a sign that an area or neighborhood has something going on.

For Jefferson Park, not only is there a restaurant boom but also a real estate development boom, especially around the park itself.

Keep in Eye on the Jefferson Park Place Project

One such project that is gearing up for its launch is the highly anticipated Jefferson Park Place Project.  Rumored to be roughly 27 modern hip and cool row homes in a terrific location, this project has all the things we love to see.

From what we have seen the new Jefferson Park Place row homes are going to offer rooftop decks, open floor plans, and an incredible attention to detail at an affordable price.

Get ready Denver! Jefferson Park is booming. Be ready to draft in this area.

To learn more about Jefferson Park Place make sure to sign up for updates at http://jeffersonparkplace.com

Like Us here on Facebook:

The past few months have been pretty incredible in terms of the comments coming from new homeowners over the past couple years.

“We can’t believe how much our neighborhood has appreciated” is the general statement.  

And the recent article in the Denver Business Journal tells us just how much that appreciation might be.  According to Corelogic “Home resale prices in the Denver metro area rose 10.2 percent in September from the same month of 2012”.

We hear a lot of figures and trends about just how strong the Denver housing market is today.  But 10% in 2 years is really speaking volumes.

A Grounded Place to Call Home

There are many reasons why Denver has been such a strong real estate market. Denver really hasn’t been a bubble prone city.   While many areas like California or Florida have experienced some drastic price trends, including fast increases back in the mid 2000’s, Denver has been more stable.  Sure, our market rose steadily but not in a very steep curve such as other cities.

So when the market slowed down Denver prices dipped, but they didn’t drop.  And that helped the Denver marketplace retain confidence.  Maybe folks in Denver are just more grounded.

Denver is simply a great place to live

The biggest reason for positively trending home prices is much simpler.  Denver is an amazing place to live.  As we wrote about in our article “Denver has become the Number 1 Destination for Millennials” our city is just GREAT!

We have great weather, transit system, entertainment, parks, sports, restaurants, and of course real estate.  

People want to live in Denver.  People move here from other cities and stay.  People in the suburbs are moving into our rapidly evolving downtown community.  Restaurants are popping up every week throughout downtown.  New light rail stations are scheduled to connect our city over the next decade.

Denver is simply awesome.

That is why we don’t have any reason to think this trend is going to stop anytime soon.  Denver’s real estate growth in pricing is based in a great part on it’s appeal as a place to live.  That’s not trendy, that’s smart.

So if you want to live in Denver or learn more about buying your next dream home or condo, our advice is to learn more today. You might be one of the folks sharing a great story two years from now.

Like Us here on Facebook:

On this Veterans Day, we would like to pay homage to our brave men and women who have served our great country today. We would also like to look at the history that led to this holiday.

The History of November 11th

On the eleventh hour of the eleventh day of the eleventh month soldiers laid down their arms for the Treaty of Versailles, signed on June 28, 1919. It took seven months, but the moment, the time and the month would not be forgotten. On November 11, 1918, President Wilson proclaimed November 11 as the first commemoration of Armistice Day. It was an act meant to reflect the heroism of those who died in service, the victory and a cue for peace. Armistice Day was originally celebrated with parades, public meetings and allowed business to shutdown at 11:00 am.  In 1938, November 11th became a legal holiday dedicated to world peace and to celebrate the armistice of ‘the war to end all wars’.

Armistice Day to Veterans Day

Of course, The Great War was followed by World War II, the greatest deployment of U.S. servicemen in the Nation’s history, immediately followed by the Korean War. Obviously, peace was not attainable and throughout the last half of the 20th century the world lived under the chill of an ever encroaching possibility of the final war for all mankind. The Cold War eventually warmed into a world of guerilla warfare.  But in 1954, that realization brought Armistice Day to be changed to Veterans Day. Nearly 30 years later, on June 1, 1954 President Dwight D. Eisenhower enacted November 11th as a celebration of all veterans from all wars. Veterans Day celebrates the service of all U.S. military veterans while Memorial Day would come to memorialize those who died while serving.

On June 28, 1968 the Uniform Holiday Bill was signed. The bill gave Federal employees Monday’s off so they could have three-day weekends on Washington’s Birthday, Memorial Day, Veterans Day and Columbus Day. The point was to encourage travel, recreational and cultural activities, but ultimately it was to stimulate industrial and commercial production.

After significant confusion on the first observed three-day holiday on October 25, 1971, the importance of the commemoration as a matter of historic and patriotic significance, the prominence of the 11th hour, on the 11th day of the 11th month was much too sacrosanct even for economic stimulus. Therefore, on September 20, 1975 President Gerald Ford returned Veterans Day to its original day.

New Era Realty would like to remember the significance of our U.S. holidays for the people they celebrate, our honorable veterans, their families and their professionalism around the world.

Like Us here on Facebook:

We love LoHi and the Highland neighborhoods.  They have great restaurants, easy access to downtown, and an incredible mix of historic homes and new modern townhomes.  The secret about LoHi has been out for some time and real estate prices reflect that.

Today we wanted to talk about the neighborhood right next door that has been secretly (or not so secretly) growing as the next favorite Denver neighborhood.  Jefferson Park is an amazing blend of all the great things we love about LoHi combined with affordability and value.  

An Ideal Denver Neighborhood

Jefferson Park’s location might be even more ideal when you consider it’s easy access to the new growing Denver Stadium District.  LoHi, Downtown, and the Stadium District are all just blocks away.

And Jefferson Park has something very green and wonderful as well… the park that the neighborhood is named after.  What else does a neighborhood need besides a great location, beautiful park, and attractive prices…. How about sexy pizza.

Jefferson Park is the Place to Be

That’s right, Denver’s very popular Sexy Pizza is opening up a new location in Jefferson Park at 25th Avenue and Elliot with a target date of January 1st  to begin serving up delicious slices and beverages.  In the story “Sexy Pizza to open third location in Jefferson Park on January 1” from Westword, owners were quoted saying “we're moving into a more up-and-coming neighborhood with the Elliot Street location”.

Did you catch that?  Up and coming neighborhood is exactly what we are talking about.

When LoHi began it’s boom we were sharing details about new restaurants, bistros, and pubs every month.  So when we take note of restaurants moving into Jefferson Park we wonder…. Is this the beginning of a foodie transformation for Jefferson Park as well?  If so, now is a great time to consider the neighborhood that has some amazing homes at prices not available in the heart of LoHi.

New Residence Project has Attractive Prices

Jefferson Park is the hot neighborhood to watch and we are working with a developer who is planning to launch a new 27 residence project very soon with a great location, amazing designs, and attractive prices.  Sign up to learn more when the project details are available at www.jeffersonparkplace.com and follow the project on twitter @jeffersonparkpl.

And of course welcome and congratulations to Sexy Pizza! 

Like Us here on Facebook:

As the Denver rental market continues to skyrocket with few properties available for rent and many possible tenants willing to pay a premium to call the Mile High City home, you may be thinking about the possibility of renting out your current home or investing in a Downtown Denver rental property. But, before you add landlord to your resume, it’s important to understand the financial and maintenance responsibilities associated with running a rental property.

Being a landlord requires a balancing act between accommodating legitimate concerns from your renters and holding tenants accountable for submitting payments in a timely manner, as well as maintaining the basic condition of your property. To ensure a smooth landlord experience, make sure to incorporate the following five tips into your rental property strategy.

Run a Comprehensive Background Check

Making sure you get good renters to occupy your property can make or break your landlord experience. In today’s highly competitive rental market, landlords have the luxury of being picky when choosing the right renter for the property. Take advantage by going through a due diligence background check process (at least financial and rental history) to ensure your tenants are in the appropriate financial position to afford your rental for the long-term, as well as have good references from previous landlords on how they live in and leave their rental properties at the conclusion of their lease.    

Protect Yourself with a Solid Lease and Suitable Down Payment

You can narrow down your search for the type of renter you are looking for by providing specific lease guidelines that outline whether smoking, pets, etc. are allowed on your property. By being upfront in the beginning about your terms and property/renter expectations, you can easily narrow down who will be a good fit for your property. It also is important to ask for first and last month’s rent, as well as a down payment up to one month’s rent, to encourage tenants to invest in taking care of your property and fulfilling their lease obligations.

Require Payment in Certified Funds

No one wants to be known as the bill collector. To minimize the stress of having to collect rental payments each and every month from your tenants, set up a bill pay system between you and your tenant with certified funds requirements. Certified payments (tenant bill pay, cashier check, money order) help ensure that you will receive sufficient funds from your tenant each month in a timely manner. It also helps eliminate the tendency for tenants to push out the date in which they write you a rent check, which could ultimately delay the funds you need to cover the property’s mortgage payment each month.

Prepare Yourself with a Maintenance Plan

Being a landlord can really put your handyman skills to the test, especially if you are renting an older single-family home. To manage the maintenance responsibilities of a rental property, it’s important to make connections with reputable handymen, plumbers and electricians that you can trust to do the job right and charge appropriately for their work. When the furnace goes out on a -20 degree Sunday afternoon during the fourth quarter of the Broncos game, you don’t want to miss the big game because you’re searching through Craigslist to find a maintenance company who can take care of the problem quickly and inexpensively. Having good contractors on speed dial can make managing a rental property a lot less stressful.  

Or, if you aren’t interested in being responsible for the maintenance of your rental property, then a Downtown Denver condo or loft with an inclusive HOA might be your best choice. HOAs that take care of a property’s maintenance needs can help take the stress out of landlords always having to be on-call 24x7.

Enjoy Someone Else Paying Your Mortgage

One of the biggest financial advantages of renting out your home is that your tenants are contributing to paying down your mortgage. If the market allows for it, it can be advantageous to charge a monthly rent that at least covers the amount of your mortgage payment and includes an extra buffer for possible maintenance issues that may arise during the leasing period. After you have paid off your mortgage, the monthly rent you receive from your property can become an additional revenue stream that can be used for your kid’s college expenses, family’s retirement planning or supplementing your income.

If you are interested in testing your property on the hot Denver rental market, give the expert real estate agents at New Era Realty a call. They can help you find the best Denver rental investments in the hottest downtown areas – whether you’re interested in the Highlands, LoHi, Riverfront, Ballpark or any of the other surrounding Downtown Denver neighborhoods.

Like Us here on Facebook:

We love our city... it is hard not to. Denver continues to grow in so many amazing ways and our Downtown is becoming a hot spot of Urban Living. It’s not just that folks within the Denver area are moving into downtown — we are drawing in folks from the entire country.

According to the Brookings Institution, Denver has become the number one destination city for Millennials, (also know as "Generation Y" — people born between 1981 and 2000). This is driven by a number of reasons, but as this article points out the reason boils down to one simple thing… Our city is cool.  

Growing Smart for the Future

Denver has a GREAT infrastructure in place and because most of our growth has been recent the planning has been smarter and wiser. Our transportation system that has a hub in Union Station will provide rail access throughout the city. The downtown has been built by reclaiming brown field and other projects. Just look at Riverfront Park and the New Union Station.  Ten years ago these were fields of dirt. Now they are thriving neighborhoods.

Denver offers all three sporting arenas in the downtown. That is a rare city amenity. In fact the city allows a walkable lifestyle to sporting events, theater, festivals, and more.

Our tech and start up industry is thriving, which provides a great job field for those moving here. And while prices for homes may have risen in the past year, our transplants from other major cities are amazed at how affordable our city lofts and condos are.  

Denver is the Place to Be

And of course part of what makes Denver cool can’t be duplicated by any other city. We have 300+ days of sunshine, four seasons with amazing climates, and don’t forget our wonderful rocky mountain backyard. Skiers and mountain adventurers pick the mile high city not only for the location but also for the fun.  

The great growth pattern shows.  Quoting from the Denver Post Article Downtown Denver is booming, but it is a tale of two cities:

"More than $630 million in downtown projects were built last year, adding more than 2.2 million square feet of new space. Of the 26 projects under construction, 15 are residential. When completed, downtown Denver will have more than 2,800 additional residential units — more than the total number of downtown residential units just six years ago."

Life here is amazing. Whether you are interested in a residential home downtown, a second home getaway, or an investment property, Denver is the hottest spot in the country.

Contact anyone on the New Era Realty team today to learn more.  It’s not just for Millennials.

Like Us here on Facebook:

DIA is Growing

We like to keep our eye on growth in Denver.  Whether it’s the influx of New Restaurants in a certain neighborhood (LOHI) or a brand new riverfront redevelopment plan (Sun Valley).  But here is something to think about when you talk about Denver’s growth... the airport.

The Denver Post reported “Denver International Airport begins construction on five new gates”.   The expansion is a result of the increased presence of Southwest Airlines with a “$46 million, 39,000-square-foot extension is finished by November 2014”.  That could mean some more affordable flights to the many destinations Southwest serves.

Bringing in the Business

What many don’t realize is that DIA is a huge contributor to our states employment and jobs.  GlobalAirportCities.com reported October 11th  “DIA worth $26.3 billion to Colorado’s economy”.  The airport brings folks in to support our cities restaurants, hotels, festivals, and of course our tourism.

The Far-Reaching Effects for Denver

This in turn helps to fund the growth of our great city to help continue the improvements that make it a great place to live.  It is part of the funding that supports projects like the 14th Ambassador Street improvements in the Downtown Theater District.  Real estate developments such as SPIRE and the Four Seasons are residents of the new Ambassador Street and enjoy the pedestrian friendly improvements to support restaurants and shopping.  

When looking at it from a Real Estate perspective, owning a condo or loft in a thriving downtown like Denver is similar to having a ski in ski out condo in the mountains.  You have one heck of a great location and that contributes to your value.

Light Rail Around the Corner

But what may bring the biggest benefit to Downtown Denver condo and loft residents is the new light rail to DIA.  In terms of pure enjoyment downtown residents or those located at transit oriented locations will be able to take that next business trip, family getaway, or tropical vacation without the headache of driving and parking.  

We have had clients who selected their homes on light rail stops (or near Union Station) in plans of a light rail commute for work and play.  Those who travel by plane regularly for work know how convenient it can be to free themselves from the current drive / park airline experience. And when it comes to real estate those light rail station locations can mean a lot of value to home seekers.   Proximity to light rail in other cities has been very popular.  

It doesn’t hurt that our new light rail hub, Union Station, is in heart of our city and close to already highly desirable neighborhoods of LoHi, Riverfront Park,  LoDo and the new Union Station Neighborhood.  To learn more about these exciting neighborhoods for your self or on an investment just contact anyone on the New Era Realty team today.

Like Us here on Facebook:

Rental Options Limited

My friend Katie has been looking for a place to rent. It’s not been easy. “Today I’m going to drive around the DU / Wash Park areas. I’ve not been down there in a week.”

She’s looked at 20 to 25 houses so far, half were not what she had expected after finding them online. Out of those, she’s filled out 10 applications—she’s not heard back from any of them. “I’ve offered a retainer of $400 cash for some places we felt were worth it, calling it a non-refundable cash offer or even offering to pay an extra $100 a month.”

With a clean rental history, no late payments, no evictions with a long standing job, she’s the kind of person you would want to rent to. But still, no call backs. “Pretty disheartening.”

While housing rates plummeted when the housing bubble burst, many people still don’t feel very comfortable buying. Banks also continue to make it harder to borrow and many first time buyers remain leery. Delays in processing foreclosures while federal regulators, state attorneys general and banks review how those foreclosures were carried out leave empty homes unavailable to buyers. Many find renting a bit safer still and in some cases, cheaper. While homes in foreclosure sell at a 20 percent discount on average, new buyers remain circumspect over the wait and continue to rent.

Denver Rental Market Saturated

Many current home owners have decided to pull their homes off the dwindling and declining markets and simply wait it out by renting till the housing market gets back on its feet. And with the current flooding disaster, many homeowners are now in need of a place to rent. Seventeen counties and 2,000 square miles were affected by the floods, including an estimated 17,500 homes were damaged. Sadly, only one percent of Coloradoans had flood insurance. This means many of those homeowners will not be able to buy another home any time soon and will have to become renters, flooding the renters market for a few long years to come.

For people like my friend Katie, this isn’t good news. “Since the flood I think that people are more likely to rent to people who have been displaced, and I don’t blame them for that and can’t be too upset about that, but I need a house too. I’ve been looking for months.”

Prices Rise with Low Supply and High Demand

But there’s even more bad news. Apartments in Denver are in high-demand while vacancy rates for metro Denver is at its lowest since 2000 with rates increased by 4.3 percent over the past year. The average rent today is just over $1,000. Denver has had the third highest rent increase in the nation. While we continue to weather the Great Recession fairly well, with a decreasing already low unemployment, more people continue to migrate in an already rental saturated city looking for work. Job seekers in their twenties and thirties aren’t quite ready to buy a house and will rent instead.

Without many new apartments being built under the construction slump, the inventory for the Denver rental market continues to decrease and their prices will continue to increase. As we move from under the construction slump rental spaces will continue to lag for another 18 to 24 months.

While the situation isn’t exactly critical, for people like my friend Katie, time and money are getting tighter. “We’ve raised our budget and are now extending our search to apartments. I’m sure we’ll find something.”

New Era Realty has many properties available to those ready to step out of the renter’s market and this might be a good time to do so. 

Like Us here on Facebook:

Beer, beer, beer and more beer—all American beer, you’ll find it here

One of the most remarkable reasons to live in Denver is that you can participate in one of the world’s greatest and biggest beer events—the Great American Beer Festival (GABF). Modeled after the Great British Beer Festival, this amazing annual event is at your front door.

While 3,000 plus beers or more than 35,500 gallons of beer, to be exact, was served to 49,000 attendees from 616 U.S. breweries, the Denver city economic impact last year was somewhere around $7 million. This year, the event took place October 10-12 at the Colorado Convention Center. Attendees got a chance to meet with brewers and be the first to sample award-winning beers as they are announced.

Homegrown Event is Uniquely Denver

The GABF here in Denver has been a major part of America’s amazing and successful beer story, now being emulated all around the word. Last year’s event covered 84 categories, covering 134 beer styles. It was judged by 188 judges from 11 countries. All of this was started by a man named Charlie Papazian.

In 1981 Charlie Papazian was attending the Great British Beer Festival in London when he came up with a brilliant idea, why not have something similar back home. Being that he lived in Boulder, back home meant here. But he would make a fundamental differentiation; the American version would be about talking beer, not talking brands. He and Denial Bradford, the cofounder of the festival, asked that all the competitors not behave as competitors, rather see this as an event, an opportunity to allow the tide to lift all boats.

The following year, June 4, 1982 the first Great American Beer Festival was underway, held in the ballroom of the Hilton Harvest House on Twenty-Eighth Street in Boulder. The event included forty-seven beers from twenty-four different breweries for 800 attendees at twenty-two different spots in the ballroom. The festival was moved to Denver in 1984. As it grew, the event found its home in 2000 at the Colorado Convention Center. Last year, tickets sold out in 45 minutes. Amazing when you compare it to 2007 when it took an entire week to sell out. This year it took only 20 minutes for this homegrown event, that is uniquely Denver, to sell out.

Like Us here on Facebook:

The City's Top Restaurants

We always love to see the top Restaurants lists published by 5280 Magazine, Westword, the Denver Post and all the big Denver journalists around town. These lists give us a chance to make sure we aren’t missing out on some tasty meals, learn about new openings, and of course see how our favorite neighborhoods stack up in terms of their dining amenities.

Denver Foodie Neighborhoods

As Real Estate Professionals the list of favorite restaurants isn’t just about the best places to eat. It is also a metric to see which neighborhoods our food loving clients might enjoy living in.  When someone chooses a home to live in it’s not just about the home or condo. It is about the lifestyle that can be experienced and enjoyed when one walks out the front door. Based upon this list we think we have a leader.

Riverfront Park and LoHi win BIG

While many neighborhoods can claim some winners in this list, it appears the biggest winning neighborhoods would be Riverfront Park and LoHi. These two fast growing and incredibly popular neighborhood are centrally located in the Northwest to claim easy access to great dining in Downtown Denver (Cholon, Rioja, Tag Raw Bar, Euclid Hall), Riverfront Park (Colt and Gray) and LoHi (Old Major, Duo, Linger).

To put this into tangible terms, if you called Riverfront Park your home you would be able to walk to 8 of the top 25 of 5280’s favorites.  We call that dining friendly living.

Here is the top 25 list that 5280 just published for 2013-14.

1. Frasca
2. Cholon
3. Sushi Den
4. Mizuna
5. Bittersweet
6. Potager
7. Fruition
8. Luca D’Italia
9. Fuel Café
10. Old Major
11. Oak at Fourteenth
12. The Populist
13. Beast & Bottle
14. Café Aion
15. Twelve Restaurant
16. Colt and Gray
17. Table 6
18. Rioja
19. Duo
20. Il Posto
21. Tag Raw Bar
22. Linger
23. Trillium
24. Euclid Hall
25. Spuntino

To learn more about the many amazing restaurants neighorhoods of Denver or to ask a New Era Realty team member to find a home that matches your favorite neighborhood amenities please contact us today.

Happy dining Denver and congratulation to the winners.

Like Us here on Facebook: