Archive for May, 2009

As Chroma opens on Larimer, price of LoDo moves into a whole new ballpark

By Mark Samuelson

The wide, well appointed, modestly priced townhomes opening at Chroma on Larimer are just a few blocks from Coors Field and its orbiting bars and clubs…and around the corner from the RiNo art gallery scene. The first buyers here (10 homes are left) have come from the art/design world…but when the Blake Street crowd gets a load of these big units, that could change.

Chroma, Chris BehrensSales agent Chris Behrens shows off a 1,722-foot townhome opening on Larimer Street a few blocks from Coors Field. It has a private 2-car garage and rooftop deck.

The first two Chroma units–each with a street-level “live-work” space–sold to gallery owners (Plus Gallery, in the neighborhood since 2001, is relocating here)…and another went to a buyer who designs sportswear. But downtown Realtors, who had a sneak preview at a party last week, are telling the developer that the size and pricing of these homes…each “deeded” to own the ground below and a private 2-car garage…are re-shaping prices for the surrounding area. more »

Inventory of homes for sale in Denver drops to its lowest level in six years…

Just like everywhere else in the country, Denver is a place where sales are well off the mark from a few years ago…but it’s is a very different market in terms of how the immediate future looks. The most obvious indicator of that is the surprising lack of supply of homes and condos in lower price ranges, available for sale this spring.

Jack OJack O’Connor, principal in the new RE/MAX Professionals, shows a listing at 1298 Bellaire in Denver. The home has 3,400 square feet including a finished basement, at $585,000. Home inventories are at the lowest level in the 7-county area in six years.

“Denver is a declining inventory market, especially in the starter home ranges,” broker Jack O’Connor told me, as the new month’s Metrolist data came out this week. more »

Celebrating miracles…and a merger

REMAX owners
Crossing the finish line at Saturday’s Miles for Miracles 5-K Run-Walk at Invesco Field are Jack O’Connor, left, Leeann Iacino and Alan J. Smith, each a principal owner of the new RE/MAX Professionals, which merged last week with Prestige Real Estate Group. Iacino, Prestige’s president, will lead the new company comprising 530 agents from Denver, Arapahoe, Jefferson and Douglas Counties. Smith, a partner in the original RE/MAX Professionals, became one of the first RE/MAX agents to join in Miles for Miracles, an annual benefit for Prestige Miracles Foundation, launched by Prestige agents to meet health related crises faced by Colorado families.

PMF, established in 2001 when one agent’s daughter contracted leukemia, has raised a half million dollars over its history for Children’s Hospital and hundreds of recipient families, according to Iacino. Its role is expected to expand with the new merger.

Castle Rock semi-custom has a golf course view and a bank-owned price

By Mark Samuelson

One of the things to be had at bargain prices this spring are views…such as one you can get from a semi-custom home above the 14th fairway at Plum Creek Golf & Country Club in Castle Rock: Devils’ Head Peak in the Rampart Range (a great 3-hour family climb) so close you can touch it…Mount Evans and Long’s Peak to the north.

Bob Brown Plum CreekBob Brown of RE/MAX Alliance 3000 shows off a bank-owned semi-custom home with a view over Plum Creek Golf Course.

No. 1074 Whitekirk Place has all of that, plus 3,316 feet of finished space and a deck, over an unfinished walk-out…for $499,950. That’s down from $525,000, where it was last month…down even further from around $697,000 when the builder sold it in 2007. more »