Living in Denver,

How to Keep One Step Ahead of Denver Traffic

How to Be One step ahead of Denver's traffic

Image Courtesy of CODOT

I am a perpetually check Google Maps before I leave any location.  I will ask my step-sons to check the route to see if there is a better one before us.  I want to see if the traffic is moving (or not).  Is the route I like to take all “red” with congestion?  Is there a better way to go?  Should I stay at work a little longer and wait for the traffic to die down?  I am sure you may be thinking…I live in Chicago and I use public transit.  I just walk to the CTA bus or train and hunker down into a good book, podcast or people watching and zone out.  Well, depending on where you live and work, public transportation may not be a viable option for you.

We have 2 major highways in the Denver Metro area, I-70 (runs East and West) and I-25 (runs North and South).  They can be quite a nightmare especially with construction! The Colorado Department of Transportation has several popular projects they are working on and will start to work on in 2018.  One of my favorite is the Central 70 Project.  This project is between I-25 and Chambers Road and will remove the 53-year old viaduct.  CDOT’s site states that the viaduct carries upward of 200,000 vehicles per day.  There will be a lot of changes, so to keep on top of it you can:How to Keep one step ahead of denver traffic

  • check CDOT’s lane closures with this map,
  • subscribe to all project Alerts via email or text (this will sign you up for travel alerts, news and much more), or
  • One of my favorite functions on CDOT’s site: the COTrip, an interactive map that provides live feeds of the condition of the roads and traffic.

Another important part of Denver’s roads is the City and County of Denver’s Public Works Department provides services involving the public infrastructure (transportation, street maintenance, planning and construction and many more services).  Road impartments are discussed often.  Are the roads needing to be repaved?  Does the CCD need to acquire land owner’s property to widen streets? CCD has a Downtown Paving Work Program that has identified streets that will be repaved in 2018.  If you have any questions on a program, need to request a repair or need to report a problem you can call 3-1-1.

For more information, check out our blog post by Bethany Candelaria “Everything you need to know about Denver Traffic.”

By knowing some of the Colorado Department of Transportation and City and County of Denver’s Public Works Department transportation projects, you will be zipping down I-25 stress free.

Living in Denver,

7 Questions to Ask Before Moving

Moving can be stressful especially if it is out of state and even more so if you don’t know a lot about the state or city you are moving to.  If you type in, “what to know before moving out of state” into Google, there 2.28 Billion search items in less than .71 seconds.  That can be very overwhelming.  To make it easier for you, here are our top 7 questions to ask yourself before moving out of state.

1. What does the job market look like?

7 Questions to Ask Before Moving

If you are moving for a job, CONGRATULATIONS! If you are looking for a job in the Denver Metro area – there are plenty of jobs available.   The Denver Post reported in May 2018 that our unemployment rated was below 3%.  Update your LinkedIn profile to look for jobs in Denver.  You can also use Indeed to find a job.

2. When should I move?

7 Questions to Ask Before Moving

According to Moving.com, the most cost-effective time to move is Mid-September to April.  Just remember, if you are moving to Colorado snow can start to fall as early as September but late October is more likely.  And Wikipedia states March is the 2nd snowiest month with 10.7 inches on average

3. What is the housing market like?

7 Questions to Ask Before Moving

Courtesy of www.videoblocks.com

Whether you are looking to Buy or Rent, knowing what you will pay for your living situation is vital.  CNBC with the Federal Housing Administration (yes if you read the article CNBC says Federal Housing Association which is incorrect) has a rule of thumb to not spend more than 30% of your gross (before taxes and expenses).  There is a neat chart for your reference.  Check it out and see where you rank!  Learn more about Denver in this blog post of ours: “Five Things you Need to Know about Denver.”

4. Where should I live?

7 Questions to Ask Before Moving

Image courtesy of www.metrowestres.com

Do you want to be close to the mountains? Do you want to live close to your office? Getting to know the neighborhoods can be fun.  Once you have an idea of what you need and want to be close to, it will be easier to identify where you could live.

5. What is the cost of living?

7 Questions to Ask Before Moving

I love that our beautiful state ranks in the top 10 best states for early retirement.  The Metro Denver Economic Development Corporation Enter your current city and state and current salary.  The output will compare salary, and price differences on groceries, housing, utilities, transportation and health care.  For example:  If you currently live in Chicago making $75,000 a year – you will need to make at least $67,950 a year in Denver.  Your groceries will be about 10% less, Housing will be 16% less, Utilities 3% more, Transportation 18% less, and health care will be 3% more.

6. How is the weather?

7 Questions to Ask Before Moving

Check out #2 on 5 things you should know about Denver.   We have lots and lost of sunshine.  67% of our days are sunny ones.  And generally, when we do get snow, it will melt on the streets the next day – making your commute to work or outdoor activities more tolerable.

7. What is the Crime Rate?

7 Questions to Ask Before Moving

As you can tell from our blogpost about the Denver neighborhoods , there are 78 official neighborhoods. CityWide Data reported in July 2018 that murder was down 50% from 2017, -1.7% Rape, -10.3% Robbery, +1.81 Aggravated Assault in Denver.  Once you have identified where you would like to live, use the Denver Police Departments cumulative data and data by month for more specific information.

We hope you find this information valuable.

 

 

Living in Denver,

6 Tips to Make Moving Easier

1. Moving is an opportunity to purge some items that you haven’t used in a while or won’t be using in Colorado.

6 Tips to Make Moving Easier

For example:  If you are moving from Chicago, you may have a lot of Bears, White Sox, Cubbie, and Bulls apparel that you won’t need– you are in Broncos, Rox, Avs, Nuggets country now!  On a serious note – When starting to pack, ask yourself “Do I really need this?  Have I used/worn this in the past year?”  If the answer is “No” then give it away

2. Labels, labels and more labels.

6 Tips to Make Moving Easier

The more you label something the more organized it will make you – which relieves stress.  When I moved this last time, we asked a couple of local offices if we could have their unwanted one side used paper.  We were able to get a lot of paper for free.  We would label the boxes on all 4 side with 8 ½ x 11 sheets.  There was no question which room the box was supposed to go into.  I like to save as much money as possible since moving can prove to be expensive.

3. Decide if you will be moving yourself or hiring movers.

6 Tips to Make Moving Easier

Moving.com has a calculator for moving estimates.  It can cost $3,910-$5468 to hire movers for a 2-3 bedroom apartment from Chicago to Denver.  If you choose to move yourself, Uhaul’s 20’ truck (2-3 bedroom apt) would cost you $1,615.

4. Start collecting boxes and packing material.

6 Tips to Make Moving Easier

HomeDepot or Lowes can cost a lot of money.  Try reaching out to your local Nextdoor neighbors and ask if anyone is getting rid of boxes and packaging material.  It could save you a LOT of money.

5. Pack essentials last.

6 Tips to Make Moving Easier

Could you imagine if you packed your tooth brush, toiletries and towels for the showers?  That would be pretty frustrating as you use them daily! I know that seems pretty dramatic but think of this: Don’t pack things you know you will need to use.  Pack items that are in storage, Holiday items, nonessential items, books, etc.

6. Keep the breakables or prized items with you.

6 tips to make moving easier

Do you have your great grandma’s china, priceless paintings, or an extensive coin collection?  If so, you may want to drive with them in your car for safe keeping.

Happy Moving!

Five Things You Need to Know About Denver
Living in Denver,

Five Things You Need to Know About Denver

Five Things You Need to Know About Denver

1: HOT REAL ESTATE MARKET

RE/MAX Alliance YouTube has some valuable information about communities and vital market information to help you make an informed real estate decision. You may be thinking a Tiny House is something you are able to afford in a hot market but make sure to check with the City and County on their restrictions.

2: LOTS OF SUNSHINE

Five Things You Need to Know About Denver

Clouds are a rarity in Denver

Many believe there are 300 days of sun – it really depends on how you interpret it.  The National Weather Service identifies sky condition with 1/8 or less cloud coverage as a clear or sunny day.  Mostly clear/Mostly Sunny is 1/8 to 3/8 of cloud coverage. Current Results Weather and Science Facts reports 245 sunny days. Not bad! 67% of our days are sunny days.

3: BLUCIFER!

Five Things You Need to Know About Denver

He looks even more terrifying at night.

Blucifer or the Blue Mustang shoots red LED beams from his eyes. Frightening? Great public art? Ponder this: Its creator, Luis Jimenez, was killed when a piece of the torso fell on him; his two sons finished the $650,000 project.

4: LOW UNEMPLOYMENT

Bureau of Labor Statistics reports the Colorado Economy at a glance with unemployment at 2.5% for September 2017. Colorado has one of the lowest unemployment rates in the country at 2.7% as of October, 2017. That’s a full 1.4% lower than the national average.

5: SOOOOOO MUCH TO DO

A High Dynamic Range photo of the Garden of the Gods park in Colorado Springs, Colorado with Pikes peak in the background.

Whether is it hiking, biking, boating, snowshoeing, skiing, watching professional sports.  The City and County of Denver site have a laundry list of year-round family attractions, adventures, vacation ideas, national parks and outdoor activities that make the state of Colorado come to life.

Need help exploring how you can move to Denver? My contact information is in my signature.

How Much Do I Need for a Down Payment
Finance,

How Much Do I Need for a Down Payment? The Answer May Surprise You

no comment

One of the most common questions I get asked as a lender is How much do I need for a down payment?

The question comes from both first-time buyers and those who are purchasing their fourth home in the last 25 years. The reason it comes up so much is that there’s a lot of confusing information (or misinformation) on the topic floating around the web.

For example, check out this article: Millennials Need a Decade to Save for a Down Payment, Says Study.

A decade sounds daunting, maybe even impossible for many buyers. Articles like this one make home ownership sound like climbing Mount Everest. And they’re flat out wrong for a variety of reasons.

How Much Do I Need for a Down Payment

Saving for a down payment shouldn’t feel like climbing Mount Everest!

According to a recent study conducted by Harris Poll interviewing 2,000 Americans, 44% believe they need a 20% down payment to buy a home

That’s the number that comes up again and again: 20%. The reason that number has such staying power, is that 20% if where lenders stop charging PMI or private mortgage insurance.

Down payments less than that amount require the buyer to pay for an insurance policy on themselves against default on the mortgage. (PMI is a complicated topic that deserves its own blog post—I will cover it in detail in a future post).

However, 20% is far more than most buyers put down when purchasing a home

The average down payment is closer to 8% according to the National Association of Realtors. And 8% is far more than most lenders require, especially for first-time home buyers.

How Much Do I Need for a Down Payment

You don’t need a massive down payment to purchase a home.

Many people believe they should put down the largest possible down payment. However, sometimes you’re better off with a smaller down payment, especially for a first-time buyer.

 

How much do you really need for a down payment? The answer depends on what sort of loan you apply for. Most American’s end up with a loan from one of the 4 major players in home finance:

  • Fannie Mae
  • Freddie Mac
  • FHA
  • VA

All of these are government backed in one way or another. Fannie and Freddie are known as “GSEs” or Government Sponsored Entities. That means that when the lender you’re working with funds the loan, it is backed by a guarantee from Uncle Sam. FHA is similar, but run by HUD (Housing and Urban Development). VA falls into its own unique category, which we’ll get into in a bit.

If you apply for a “Conventional” loan, your loan will be underwritten and guaranteed by either Fannie Mae or Freddie Mac. They’re the major players, and underwrite and guarantee most loans in the United States.

Fannie Mae and Freddie Mac require a minimum 3% down payment for a first-time home buyer. You read that right.

 A 3% down payment will get you into a new home if you are a first-time buyer

You must be a first-time buyer to put down only 3%, but there’s an interesting caveat: Fannie and Freddie define “first-time” as someone who hasn’t owned a home in the last 3 years. If you owned a home 3+ years ago and are now buying again, you will qualify with a 3% down payment.

If you have good credit and are purchasing in Colorado, it gets even better: You can qualify for a mortgage with a 1% down payment!

New American Funding, the company I work for, has a unique program for first time buyers with good to excellent credit. We offer a 1% down payment program with a 2% grant (free money) that comes directly from us!

Sound too good to be true?

It’s not.

Here’s how the 1% down payment program works

We require the buyer to bring 1% of their own funds, and then back that up with a 2% grant which we pay to get the borrower to the 3% required by Freddie Mac. The money really is a grant, which means its free, no strings attached. For a buyer purchasing a $300,000 home, that’s $6,000 in free money.

The rates and terms on these loans are almost identical to those on a standard conventional loan. The rate is slightly higher, usually about .125% to .25% more than someone putting down 3% of their own money, but for a buyer with limited liquid assets, it can be the different between buying a home now or waiting several more years.

The 1% down program is unique to New American Funding. We are the only lender in Colorado that offers it

So what if you’re not a first-time buyer? What is your minimum down payment?

The answer is 5%, unless you go with a FHA loan.

Freddie and Fannie require 5% for buyers who have owned a home in the last 3 years

FHA on the other hand, requires 3.5% regardless if you are a first-time buyer or are purchasing your 10th home. FHA also works with buyers who have less than stellar credit. For folks who have had a bankruptcy or foreclosure in the last few years, FHA is the way to go.

FHA has some downsides (one of which is higher PMI or private mortgage insurance rates), but they would require their own blog post to cover in detail.

Which brings us to VA

If you are currently serving in the armed forces or were honorably discharged, you will qualify for a VA loan that requires NO down payment. Veterans purchasing a new home can put down 0%. It’s the lowest requirement in all of lending, but only applies to service members and veterans.

The best answer to the question How Much Do I Need for a Down Payment? is It depends on your unique circumstances, goals, and objectives.

You need to talk to a professional who can help determine what you will qualify for based on your credit, income, and a comprehensive understanding of your finances. Your needs are unique, and working with a knowledgeable lender who can talk you through every aspect of your transaction.

I’ve worked as a mortgage lender for almost fifteen years and have helped hundreds of clients buy homes in seven different states. I can help you determine what you’ll need, and find the right program that gets you into your dream home for the lowest possible cost and with the lowest possible rate.

You can read what my past clients have to say about me by clicking here. New American Funding has 26,000+ reviews with an average 4.9/5.0 rating.

My contact details are in my signature

Denver Neighborhods
Living in Denver,

Metro Denver Neighborhoods – A Breakdown

no comment

Denver Neighborhoods – The Basics

If a move from Chicago to Denver is in your future, you might be wondering where exactly you’d like to call home. It might seem like an overwhelming task trying to figure out where to begin researching neighborhoods in the city. While I could probably write a book on everything you might want to know, no one has time for that. Here’s a very brief breakdown on some of the major Denver neighborhoods you should consider.

Denver Neighborhods

Chicago and Denver both feature diverse neighborhoods.

Baker

Just west of Wash Park is the historic Baker neighborhood. One of the oldest parts of Denver, this area was first developed in the 1870s. Dotted with gorgeous Victorian homes and newer apartment buildings, Baker is right off the great food and shopping on Broadway.

Berkeley/Highlands/Sloan’s Lake/Sunnyside

These five locales are all in close proximity to each other on the northwest side of the city and have all seen a tremendous change in the past several years. Turn of the century (20th that is) homes and new builds, along with some of the best dining in the city, make this area popular for visitors and residents alike. Here are links to neighborhood groups in the area:

Berkeley

Highlands

Sloan’s Lake

Sunnyside

Capitol Hill

As its name implies, Capitol Hill makes up the area surrounding the Colorado State Capitol Building. This Denver neighborhood features some single family homes, but many of the old mansions that line the streets have been converted into apartments. It’s also home to many of the city’s museums, art studios and restaurants.

Denver Neighborhoods

The State Capitol Building
Image Courtesy of Wikipedia

Five Points

Once known as the “Harlem of the West,” Five Points is one of Denver’s oldest and most diverse neighborhoods. It is currently experiencing a renaissance of sorts and is home to an eclectic mix of coffee shops, restaurants, and culture.

Green Valley Ranch

Green Valley Ranch is one of the fastest growing parts of the city. With new homes for affordable prices, this neighborhood in the eastern part of the city is highly desirable.

River North

This old industrial part of the city has seen a revival as the city’s art hub. Old warehouses and factories have been transformed into studios, markets, clubs and coffee shops. New housing has also popped up the area, making “RiNo” one of the most popular parts of the city.

Stapleton

The Stapleton area of east Denver is one of the newest neighborhoods in the city. Once home to the old Stapleton Airport, redevelopment has converted  new homes and plenty of shopping. It has quickly become one of the hottest areas in the city for young singles and families alike.

Washington Park

Denver Neighborhoods

Beautiful Washington Park
Image Courtesy of Wikipedia

Wash Park is one of the most popular Denver neighborhoods (and also one of the most expensive!) It is located in the south central part of the city and is populated with many single family homes surrounding the largest park in Denver. The western part of the area is home to a younger crowd with many condos located near great dining and shopping on Broadway.

This is by no means a comprehensive list of neighborhoods. Head over to denver.org for even more information.

Have questions about any of these Denver neighborhoods (or any that didn’t make this list)? Drop us a note in the comments section.

Metro Denver not your cup o’ tea? Check out our comprehensive post on Jefferson County and the suburbs it contains.

Living in Denver, Traffic,

Everything You Need to Know About Denver Traffic

1 comment

Everything You Need to Know About Denver Traffic

Traffic. It’s not something you would normally think about when relocating, unless you’re moving to a city with a reputation that precedes it like Chicago or L.A. Denver traffic isn’t nearly as bad as Chicago’s or L.A.’s, but as Denver continues to grow, so does our traffic.

Thinking of making the move to the Mile High City, but wondering what Denver traffic is like?

Let’s go for a spin.

Denver Traffic

Denver Traffic isn’t bad if you’re coming from cities known for notoriously bad congestion, like L.A., NYC, San Francisco, or Chicago.

On the other hand, if you’re coming from somewhere like Des Moines, Milwaukee, or Raleigh, you might think our traffic is horrendous. As a native, I can tell you that with the influx of people to colorful Colorado, I am definitely spending more time on the road than I was 10 years ago. As a well traveled person, I can also tell you it could be much, much worse. But, don’t just take my word for it.

Inrix, a company that focuses on transportation analytics, recently released their Global Traffic Scorecard that examines the traffic patterns of cities around the world.

According to their study, Denver traffic ranked 21st in the U.S. and 107th in the world (up from 124th in 2015) for traffic congestion.

Great, so what does that mean? On average, Denver drivers spent 36 hours in traffic in 2016, which stayed about the same from the previous year. Compare that to Los Angeles, which took the top spot in the world with drivers spending 104 hours in congestion on average!

Denver Traffic

Chicago ranked 9th in the United States and 19th in the world.

Moving from Chicago, Denver traffic isn’t going to phase you. If you’ve spent any time on the Dan Ryan or Eisenhower, Denver traffic will feel tame by comparison. And unlike in Chicago, you’re going to have the beautiful continental divide to enjoy along with all those break lights.

You can get more detailed information directly from the Inrix study.

As with any large city, there are going to be certain areas of the city that are worse than others and certain times of the day that are particularly bad.

Interstate 25 and Interstate 225 tends to be the worst during the morning and evening rush hours, though I-25 can be bad anytime. 25 is the main north-south corridor connecting Jefferson County and Denver County to Tech Center, Castle Rock, and Colorado Springs. It’s always busy, and getting worse every year.

Denver Traffic

Image Courtesy of www.9news.com

Fridays and Sundays, you might want to avoid Interstate 70 just west of Denver. It can seem like everyone in the state is heading up to the mountains to ski, hike, or mountain bike!

If you’re looking for information on current construction projects in a specific part of town, the Colorado Department of Transportation can help you out with a list of current projects.

Want even more detailed information? The Denver Regional Council of Governments released its 2015 Annual Report on Traffic Congestion in the Denver Region last fall, which provides even more insight into the traffic patterns in the metro area and how it compares to 2005.

Additional resources can be found at cotrip.org, which will provide you with traffic or road conditions for a specific part of the city or state.

If all this information has you considering leaving the car at home and leaving the drive to someone else, waytogo.org, can help you find and utilize alternate transportation options, like carpooling, public transportation, and car sharing.

Thinking of moving Denver? Let us know if you have any questions or want more information about traffic or anything else!

Jefferson County
Uncategorized,

Jefferson County: Gateway to the Rockies

2 comments

Jefferson County: Gateway to the Rockies

Known as the “gateway to the Rockies,” Jefferson County is centrally located, with downtown Denver to the east and the magnificent Rocky Mountains to the west.

Jefferson County

The supermoon of may 2012 lights up the night sky above the city of Golden and metro Denver Colorado on a gorgeous evening in May.
–jdebordphoto.zenfolio.com

If you’re looking to enjoy the quieter life of the suburbs, Jefferson County is a great place to live. Spanning 773-square-miles, Jeffco has something for everyone. From more urban feeling areas bordering the city to rural areas further north to quintessential suburbs to the south and mountains to the west, it really does have it all.

Officially formed as the Territory of Jefferson in 1859, Jeffco has its roots in mining and agriculture.

With a population of more than 565,000, Jeffco is the fourth largest county in the state. Based on the most recent census data, Jeffco had an annual growth rate of approximately 0.17 percent from 2000 to 2011, which is slower than anticipated. The unincorporated areas of the county saw a growth rate of around four percent, while many of the cities saw a decline in their populations.

Within Jefferson County are several cities and towns, including Arvada, Edgewater, Golden, Lakewood, parts of Westminster and Wheat Ridge.

Additionally, unincorporated areas of the county include Applewood, Conifer, Evergreen, Genesee, and parts of Littleton. The unincorporated population is roughly 188,000, or 35 percent, while the city of Lakewood is the largest municipality with around 143,200 people, or 27 percent of the population. According to the Jefferson Economic Council, the median home price in Jefferson County is $293,926. The Jefferson County Planning & Zoning division has more detailed demographic information if you are interested in additional specifics.

Jefferson County is served by a public school system that has several nationally recognized schools.

It is also home to several institutes of higher education, including Red Rocks Community College, Front Range Community College, Colorado Christian University, Rocky Mountain College of Art and Design, and the renowned Colorado School of Mines. The county also boasts a highly educated workforce, with more than 40 percent of the population who have a Bachelor’s degree or higher.

For lifelong learners, Jefferson County has a first-class public library system

It includes 10 locations, a Bookmobile, and an online library. In addition to both a print and digital catalog of 1.1 million items, Jefferson County Public Library offers storytimes for families, programs for teens and adults, and technology courses for those looking to improve their computer literacy skills.

For those that enjoy the great outdoors, Jefferson County has a world-class Open Space system.

There are 29 parks that cover 54,000 acres that provide access to hiking, biking, camping, picnicking, and more.

Jefferson County

The Jefferson County Courthouse is nestled at the edge of the foothills just south of Golden, Colorado

If you’re looking for more contained places to explore, Jeffco has plenty to offer, including the Colorado Railroad Museum, Butterfly Pavilion, Bandimere Speedway, Lakeside Amusement Park, Coors Brewery, and more. For entertainment buffs, Jefferson County is home to one of the world’s most famous music venues: Red Rocks Amphitheater. The Arvada Center for the Arts and Humanities also offers first class concerts and theatrical performances.

As you can see, Jefferson County has something for everyone. If you’re looking for a little more background on some of the cities and towns in Jeffco, check out our list. If you’re interested in learning what your commute might look like, check out my post on Denver Traffic.

Have unanswered questions about Jeffco? Contact us in the comments section below.

Huge Hail
Uncategorized,

The Weather in Colorado is Perfect – Except for Hail

Colorado has amazing weather, except for the hail.

It’s hard to beat 300+ days of sun a year! We also have very low humidity, which makes even our hottest days far more comfortable than the claustrophobic humidity of the Midwest.

Once a year we might get a full week above 90f or below 20f, but other than that, the temperature is mild both in summer and winter. If we have a day that is extreme hot or cold it generally only lasts a day and maybe not even the full day.

You will often hear the saying “Don’t like the weather in Colorado? – Wait 5 minutes, it will change.”

Colorado weather is perfect – except the hail.

Hail in Denver

We don’t often get hail this large in Colorado, but it can happen!
Image courtesy of http://www.nssl.noaa.gov

Since 2008, each summer the Denver Metro area gets hit with several hail storms that have caused millions of dollars of damage to homes and cars—all in about 5 to 10 minutes!

The most recent storm on May 8, 2017, caused an estimated $1.5 Billion of damage in less than 15 minutes.

Clients moving from the Chicago area often ask me, “Why is insurance so expensive here?”

The simple answer: hail.

A roof should last about 30 years but in the metro area they end up getting replaced every 10-15 years.

Auto body shops have more business than they can handle after a hail storm. Customers often have to wait 2-3 months to get their car repaired.

What does this mean for you? Be prepared to pay a little more for your insurance when you move to Colorado. Also make sure you know how your coverage works as some policies do not cover 100% of hail damage.

There are ways to keep you rates down.

One is to go with a cut-rate insurance company with the lowest possible rates. However, is it worth saving a hundred dollars on your annual premium if it leaves you exposed to thousands of dollars of losses if worst comes to worst?

At my agency, I offer policies that offer comprehensive coverage for my clients at affordable prices. When the hail hits (and it will), they’re covered. It’s worth a bit more out-of-pocket to know you’re secure.

Hail in Denver

Hail-damaged trucks at a local dealership.
Image courtesy of Automotive News

Don’t let the cost of insurance discourage you from your decision to Colorado.

The many pros outweigh the few cons.

If you want to know what you’ll pay for insurance on a home in Colorado, I’d love to help you evaluate your options before you arrive so you that you can factor those costs into your budget. Whether you’re planning to rent or purchase a home, I’ll partner with you to make sure you’re protected.

Questions about Colorado’s weather, hail, or insurance in general? You can reach me through my signature, or leave me a comment below.

Tiny House
Uncategorized,

Could a Tiny House be the Solution to Denver’s High Realestate Prices?

If you are thinking of moving from Chicago to Denver or have just moved, buying a home within your budget can be a challenge. A tiny house might just be the solution.

The home prices may be a shock for you Chicagoans – the median prices for the Denver metro area is $487,794 and for the Chicago area is $222,700.

One option many transplants have considered since Colorado has a lot more land available is a tiny house. 

Tiny House

Could a Tiny House be the solution to the high-priced Denver housing market?

A tiny house is a structure that is roughly 100-500 square feet. They’ve gained in popularity in recent years, both because they are more economical than larger homes, and because of exposure on television shows such as those on HGTV.

There are two common problems with tiny houses: 

  1. How do you pay for a tiny house?
  2. Where do you put the tiny house?

How do you pay for a tiny house?

There are 2 options, cash or loan.  If you have cash to purchase your tiny house – CONGRATULATIONS.  You are on your way to financial freedom.

If you need a loan, you’re going to have some obstacles to overcome. Houses under 500 square feet cannot be appraised.  There aren’t enough of them out there for lenders to obtain reliable appraisal based comparable sales.  As popularity grows for tiny house purchases and more sales data gets out there, lenders may loosen guidelines and start offering more loans on tiny houses.

You may have the option of getting a loan through a non-traditional mortgage provider, such as a portfolio lender or a credit union. Portfolio lenders lend their own money (or money from a pool of investors) and don’t play by the same rules as larger banks. Just expect to put down more money (20% or more) and get a higher interest rate than on a traditional mortgage.

Where do you put the tiny house?

If you’re looking to move your tiny house to the City and County of Denver – Good news – they are allowed.  However, some tiny houses do not align with city codes.  If a RV or mobile home park isn’t what you are looking for, you will have to purchase a house that is run down and needs to be demolished or find available land.  There are some cities, like the  City of Loveland, that are working with tiny home owners by creating spots to place them.  For one night if your tiny house is self-contained (it has a toilet, gray water holding tanks, and you need no hook-ups), try Harvest Hosts or Boondockers or Gamping.

There are several things to consider when purchasing a tiny house.  Make sure you have done your research so that you follow your preferred city and county codes and regulations.

You’ll also want to talk to an expert—someone who can guide you through the process from one end to the other. As a realtor working in the Denver market, I can help answer your questions and assist you in finding the perfect home to meet your needs. You can reach out to me through my signature, or through the comments section below.