We certainly would like to know and the Bovine Metropolis, just one block from the new SPIRE Development on Champa will be asking that question. So if you are seeking some laughter and fun here is a plan for this coming Saturday night and for a few weeks to follow as the competition get's more intense.

"Denver's Next Improv Star" Premiers January 23, 2010!
Who will be Denver's Next Improv Star? Finally a reality show that's funny. "Denver's Next Improv Star" will pit 15 improv players against each other to find out which is the funniest and best improviser. Each week prizes will be awarded and people will be eliminated, until finally we find out who is Denver's Next Improv Star!

You will never know what to expect! The contestants will be put through a variety of short form and long form improv games and situations.

Each week the 2 judges and one guest judge will decide who wins and who goes home. There will be one night when the audience gets to vote too!

The first header under Wells Fargo's Colorado Economic Outlook: January 2010 reads "Colorado Recovery May Lag, but Future Looks Bright"

Boiling the mutli page report down to some basics...

We (Colorado) fell into a recession later than the rest of the nation.  We had a housing slump later (and much less severe) than the rest of the nation.  And since we entered our recession a little later we may lag a little on the recovery but as a whole the duration of our recession will be less than the rest of the nation and our bounce back is looking strong.

Why does folks consistently look to Colorado as the bounce back king of the nation.  There are several reasons why that the report discusses.  First and foremost, as we have said time and time again... folks love to live in Colorado.  Sunny skies, beautiful weather, thriving and well planned downtown, transportation, restaurants, events, the arts, major league sports teams in the downtown, and of course a wonderful mountain playground all combine for one great place to live. This translates into folks starting companies, growing employment bases, seeking out housing, and purchasing goods and services.  Keep following this and we have a base  for "strong population growth, better than average housing fundamentals, and an economic recovery fueled by high tech and alternative energy" which can provide support for the housing market and Colorado's bright future.

It all boils down to Colorado and Denver as a wonderful location to live.  Location Location Location.  Some other great and happy excerpts...

• "Colorado's labor market remained healthy, with employment growth holding steady at about 2 percent per annum"
• "Home prices are down just 7.7 percent from the peak, compared to a whopping 29.1 percent drop for the nation"
• "...lower home prices and mortgate rates have led to a marked improvement in housing affordability.  The housing affordability index jumped to 168 in Q1 2009 from 113 in Q2 2006, before slipping to 156 in Q3 as home prices have rebounded".
• "Home prices have firmed recently, however, and are up almost 8 percent from their February 2009 trough, thanks primarily to the home buyer tax credit."
• Slowing job losses, a rebound in the stock market and some general economic improvement have also helped to shore up buyer confidence"
• "Inventories of homes for sale are down about 17 percent from a year ago, according to local Realtor reports, suggesting the market is returning to a more healthy balance"

In their summary this report states...

"Colorado's recession will be shorter than the nation's.  The relative strength of the housing market, improved credit quality for both households and banks, strong population growth, expansive and expanding transportation networks and a solid base of high paying and growing industries will combine to pull Colorado out of the recession and set the stage for dynamic growth in the years ahead"

Great news!!  The article isn't all sunshine and roses.  The first few pages discuss what has happened thus far.  The industries hardest hit in Colorado and the various effects that have been felt.  But what was most pleasing for our reading was the recent trend of recovery and the vision for Colorado's growth.  It's still a great time to be a buyer for so many reasons and the vision of dynamic growth is inspiring.  This economic forecast is promising for existing homeowners while we search for our clients for the best buying opportunities to take advantage of what exists today and while the home buyer credit is still in place. Different new developments and each listing on the market today is different, and some are more aggressive today in creating incredible buyer incentives.  Please contact New Era Realty for all your Downtown Denver Condo and Loft questions.  We are here to help and our expertise and specialty is in the Downtown Denver Real Estate Market.

To read the full Wells Fargo Special Commentary please visit http://wellsfargo.com/research

The Urban Land Institute is a wonderful organization that focuses in on the emerging trends in land use and urban planning.  One concentration is, as you would expect, the growth that has been occurring across the nation within the downtown areas.  From one city to the next folks are migrating from the suburbs and finding their homes and their happiness in the center of everything.

Along with this migration developers are looking at how to design better buildings for their residents.  Part of that design has become a focus on amenities.  There are natural amenities to a downtown due to its location.  There are restaurants, shops, sporting events, theatres, and more all within steps of many downtown Denver buildings.  But if you look at residential towers built 5 or more years ago and compare them to recent projects such as SPIRE, Glass House, One Vendue, The Four Seasons, The Ritz Carlton or others you see the evolution of residential downtown condominium living is underway.

The logic is simple.  Developers want to offer their residents the same amenities they may have experienced growing up or while living in the suburbs.  Most folks relocating to the city are simplifying their life.  They are giving up their commute.  They are giving up mowing the lawn.  They are often also reducing the square footage they previously lived in that allowed them to throw large get together events or set aside a dedicated game room or multimedia movie room.

Developers, Architects and designers are focused on creating new buildings where residents still have all these benefits and more.  Many of the new buildings have dedicated club space that residents can utilize for their own events.  Buildings often have their own theater rooms, sports rooms, or game rooms.  And to replace the local swimming hole or fitness center many new buildings will have pools, hot tubs, and/or gyms integrated into the building.  And best of all you don't have to drive to enjoy any of these amenities.

The end result that these new downtown Denver condos and lofts are hoping to attain is that you can live with the same features and lifestyle amenities that you would have enjoyed in your 10,000 square foot house.  All you need to do is find the square footage that you need for your downtown lifestyle and the rest is just steps away.  And we have barely touched on the amenities that exist outside the front door depending on which neighborhood you choose to call home.  Theatre distict and fans of the Arts might select downtown.  Dog owners might enjoy being on Commons Park in Riverfront Park.  Maybe you are the biggest Rockies fan in the world and want a loft in Ballpark to call home.  Whatever your goal, Denver has many neighborhoods with many different features.

What is the most popular amenity for a building?  That is difficult to say.  Some clients prefer the health aspects of a fitness center.  Others find a pool to be invaluable especially with Denver's 300+ days of sunshine.  Places to entertain, 24 hour front desk and services, housekeeping and room service, dog parks, hot tubs, business centers, and more.  The list is always evolving.  Feel free to comment and share with us what your favorite amenities would be.

If you are interested in learning more about the new amenity rich downtown lofts and condos in Denver or the various neighborhoods please don't hesitate to contact us.  We are here to offer expertise and support for our clients and downtown Denver is our specialty.

21st Century Modern: Architecture Talk with David Tryba
January 07, 6:30 PM—8:00 PM
Denver Botanic Gardens

Explore connections between landmark architecture and new additions at Denver Botanic Gardens. By looking at the historical context of buildings at the Gardens, award-winning architect David Tryba illuminates his creative decisions for new construction on the grounds of DBG. Tryba’s new parking structure and Bonfils-Stanton Visitor Center were designed to complement the original 1966 Hornbein and White Boettcher Memorial Conservatory and other structures. Hear about the opportunities and challenges of designing under the shadow of one of Denver’s most famous buildings. Free program; pre-registration recommended.

Mitchell Hall

What is the hottest topic in Real Estate this New Year's Eve... It's the #1 Denver Market.

What better way to finish off 2009 than with some great news about Denver's Housing Market performance.  The S&P/Case-Shiller Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States.  John Rebchook does an excellent summary of the report details and here are the opening few lines from his blog post...

Denver performed the best of the 20 major metropolitan housing market tracked in the closely watched S&P/Case-Shiller Home Price Indices report released today.

Denver’s housing market showed only a only a 0.1 percent dip in housing prices in the year ending in October, compared with an overall drop of 7.3 percent for the 20 areas in the report. The 10-city index in the report fell overall by -6.4 percent.

Tom Clark, executive vice president of the Metro Denver Economic Development Corp., said that Denver’s No. 1 ranking is the latest sign that Denver’s economy is out-performing the nation’s.

“Job growth does matter,” Clark said. “What a concept.”

Job growth has been a consistent strength for the Denver Real Estate Market.  With our wonderful weather, well designed urban plan, growing downtown restaurant and entertainment district, multiple sports teams, and outdoor mountain access Denver consistently draws new residents and job seekers.  The growth of companies and an employment base for an attractive city like Denver creates a foundation to support the housing market.  I'm sure you have heard the old real estate philosophy  of "Location, Location, Location".  Well Denver as a location within the United States appears to be the equivalent of that ski in ski out on mountain access.  People simply prefer to live and work in our wonderful city.  This strengthens our housing market.

The article points out some interesting predictions.  The article mentions a number of similar thoughts we've mentioned on this blog including a "wake up call" in the $250,000 to $500,000 pricing range and folks taking advantage of the new home buyer credits in the first quarter of 2010.  Many buyers we've worked with have specifically targeted the home buyer credit in their real estate purchase value.  It certainly makes in an attractive time to buy.

The article also mentions that Denver holds up about middle of the pack in overall rebound which makes sense as we didn't witness quite the same bubble as many other cities.  Perhaps our prices stayed more true historically so the variation was less while still creating a nice time for opportunities for buyers.   And a number of denver condo and loft buildings are currently offering some incredible per square foot opportunities.

If you are interested in learning more about these Denver condo and loft opportunities or to discuss this article or the Shiller Home Price Index results please give us a call.  We are here to help in all your Downtown Denver Real Estate needs.

As 2009 draws to a close, we are thankful for yet another year of growth here at New Era Realty. To celebrate and reward everyone who worked so hard to make it a great year, the company sponsored a holiday retreat for all of our agents, employees and their spouses. This involved a night of fun at the new Ameristar hotel/casino in Blackhawk, followed by a ½ day at the spa the next morning to recover. The event received an enthusiastic thumbs up from everyone at New Era Realty and may become an annual tradition!

A few notable accomplishments for 2009 included selling 160 homes or approximately $37 million in real estate. Not bad considering we were a “small” firm of less than 10 agents! The vast majority of our listings this year sold within 30 days as well, with most selling near asking price – a trend we will surely continue into 2010!

We also wanted to recognize two new additions to the company who made a real impact this year. Kelly White has done a great job since coming on as our as our Operations Manager mid-year. Chris Behrens formerly of Urban Thrive Real Estate also joined us mid-year as an agent and has been setting sales records month over month. A big thanks for these two individuals as well as all of our great agents who have been with us from the very start!

Finally, we thank all the clients who put their trust in us this year. We always strive at New Era to have a 100% positive customer service track record and we think we hit that mark again in 2009. As we enter the New Year it is with a commitment to provide red carpet service to all of our clients and to continue setting the new standard in the industry!

HAPPY NEW YEAR FROM THE NEW ERA REALTY FAMILY!!!

Pick a spot.  It's almost the New Year and the Downtown Denver Fireworks will be going on from both sides of the 16th street mall at 9 PM and again at Midnight.  Our big question is where will be the best spot to watch the Fireworks.  Riverfront Park offers some great views looking into the 16th street mall especially if you are a resident of the Glass House , the Park at ONE Riverfront or Riverfront Tower.  SPIRE should offers some great views from their 9th floor amenity level as will many of the Downtown Denver Condos and Lofts.

Or perhaps you will be gathered along the 16th street mall or resting on the Denver Millennium Bridge.  No matter where in Downtown you choose to watch the great display we wish you a Happy New Year's Eve.

Here is a blurb from their site..

Annual New Year's Eve Fireworks Downtown

December 31, 2009 - January 1, 2010

PRESENTED BY
Downtown Denver Partnership, Inc.

To welcome the arrival of 2010, the New Year's Eve Fireworks Downtown will once again fill the skies twice during the evening. The first show, at 9:00pm will entertain families and others looking for an early celebration, while the second show officially marks the start of the New Year at midnight. The two fireworks programs are identical, and both are launched simultaneously from dual sites along the 16th Street Mall.

Twas the night before Christmas and all through the city...  the snow kept on falling and doesn't it look pretty.

Okay, we clearly should stick to Real Estate and forget the poetry.

Denver got it's white Christmas just in the nick of time, and along with it the roads became just a little bit more of an adventure for last minute gift shoppers.  For many of our downtown clients and friends the weather just meant some thicker socks and heavier boots as they made their way downtown.

With the holidays we will take a little time out ourselves from the real estate activities that have been growing more and more active in the last part of this year.  We have seen an amazing number of offers going out and winning some incredible values in the various Lodo, Riverfront Park, Highlands, Ball Park, and other Downtown markets. Several of our clients got their presents from Santa very, very early and boy was he kind to them.  But that is the nature of the market we are in.  There are many opportunities out there including a number of short sale properties and developer inventory items that have motivated sellers hoping to wrap up this year or kick of 2010 with movement on their inventory.  How nice for all of our buyers.  Curious about what we have seen lately or interested in finding that perfect property at an attractive price, just give us a call.

And we would like to thank you for reading our blog and sharing your questions and ideas with us this year.  All of us at New Era Realty would like to wish all of you the very happiest of holidays and we look forward to working with you in the New Year.  We already see some great things happening in the start of 2010.

And one last item we wanted to share with all of our downtown condo and downtown loft clients and friends.  There aren't many places to grab some holiday cheer that will be open on the 25th but we have heard that the number one spot will be at Elway's downtown.  For those of you out there doing a google search for open on Christmas in Denver we hope this information helps.  Churchill's and the Ship's Tavern are both open in the Brown Palace as well but look to be booked up which still means you can enjoy a drink at the bar.  And last but not least the Altitude Restaurant in the Hyatt is serving as well which gives you a chance to look over at the newly constructed SPIRE building we have been speaking of.

If you are Downtown craving some place to stop in we hope these suggestions help.  You might want to call ahead just to be safe as their hours and capacity might be changing but at least it gives you a few options.  Cheers and Happy Holidays to All from New Era Realty, your Downtown Denver Condo and Loft Experts.

Denver puts on a spectacular fireworks display every New Year's Eve.   And this week, not next week, is the time to make sure you have your plans ironed out and your reservations booked.  Restaurants are either already filled up or filling up fast so pick up those phones or use opentable today.

And since taxis and light rail are the preferred mode of transportation this night for most we wanted to share the news about how light rail and the 16th street shuttle will be affected.  Here is the story from the Denver Business Journal Fireworks to interrupt Denver light rail, mall shuttles on New Year's Eve

And here are the cliff notes..

Light-rail and 16th Street Mall shuttle service in some areas of downtown Denver will be interrupted on New Year's Eve because of fireworks displays, the Regional Transportation District said Monday.

Rail service will be interrupted from 8 p.m. on Thursday, Dec. 31, to about 1 a.m. Friday, Jan. 1, between the Theatre District/Convention Center and 18th/California stations, RTD said.

The interruptions will affect the D, F and H rail lines, but not the C and E lines. All rail lines will operate as scheduled outside the closure area.

Also, the 16th Street Mall shuttle will experience service interruptions on New Year's Eve, RTD said.

And of course what a wonderful night to already live in a downtown condo or loft and just walk out your front door for all the events, restaurants, and more.  Contact us today to learn more about your downtown Denver lifestyle.