Marion Street problem fixed!!!

In an earlier post, I reported that a specific lot was completely neglected. It was overgrown, poorly maintained, and a complete eyesore on the block.

Great news!

The lot has been mowed. Still awaiting any development plans or actions, but at least it doesn't look like the Amazon Rainforest anymore.

Short and sweet!

Edward Martin
Showcase Properties Unlimited
303-875-4450
apexofdenver.blogspot.com

Observations about re-urbanization

With doom and gloom that the news media is feeding you, I have to insert a question:

What if times are great, and we don't even know it? What if this is as good as it gets?

In doing some reading and thinking about the current state of life, real estate, Denver, and Colorado, things may not be as bad as they say. I hate to be a non-believer in the news-media, but in working downtown the other night, people seemed pretty happy to be out.

Like all things, we are interconnected. I have yet to see statistics (unbiased statistics? Everyone has an agenda...there is a statistic for everything) that link the emotional health with news, or anything, for that matter.

When people ask me what is going on with real estate, I naturally back off and let them know that there are a lot of factors to summarize the current, past, present, or future real estate trends.

Just as Best Buy sells electronics, McDonalds sells hamburgers, news-media sells news, many real estate brokers sell homes. There are some markets that are doing better than others. There are some markets doing worse than others.

Many people are on edge about an incoming president, high gas prices, summertime heat, and stressors associated with things like money, house payments, and foreclosures. My advice: be informed and learn as much as possible about these things- it will put you in a better position to make informed decisions and cope with all types of stress, and deal with the ups and downs of a turbulent real estate market.

Thanks for reading!

Edward Martin
Showcase Properties Unlimited
apexofdenver.blogspot.com
303-875-4450

The Colfax Events Center

In perusing the most recent issue of Life on Capitol Hill, one columnist brought attention to an error made regarding the new Colfax Events Center.

This historic building, built in 1929 (zoned L2-Interdenominational Church with Missionary Emphasis), purchased in 1995, is now being rented for small venue concerts.

This church has embraced the idea of revenue (nonprofit) on the Colfax Corridor. I believe this venue has been used by sponsors like Swallow Hill Music Association and the Tattered Cover. It is a 500 seat auditorium. While I can't see huge name acts on the former playbill, it is just adjacent to the Lowenstein Theatre. The nearest venues from there are the Bluebird Theater.

It would also appear that it is going to be the site of the Velvet Elvis Gospel Revival, which looks to certainly be an interesting act.

The interesting thing about this, is when it comes to space, it is very difficult to find space for anything. In articles and reviews, people are asking why the Church is not restricting use and access?

As the Colfax Corridor grows, they realize that with 5 theaters within 2 miles of each other, they should really 'cash' in on the arts culture along Colfax- with local artists, and a live venue that could be great for any kind of intimate arts atmosphere.

Real Estate value? Neo-urbanization is dependent on the arts, culture, and those who are willing to open their doors (and their hearts) to something people want. Colfax seems to be 'concert row.' It encompasses local acts, the odd, the strange, and the well-known. This is a great addition to Colfax, and I should tell you, also, that it is nearly across the street from the new Esplanade project, on the Church in the City site.

Thanks for reading!

Edward Martin
Showcase Properties Unlimited
apexofdenver.blogspot.com
303-875-4450

Pedicabs, DNC, other topics!

Hi Bloggers,

In working my side job yesterday, I was pleasantly informed that I made the Rocky Mountain News! I was riding my pedicab on the mall and was asked to have my picture taken. Lo and behold, I made page 7 press. Read the article.
I love it!

In other news, the biggest news-maker has been this debacle of Fannie Mae and Freddie Mac. Just to be clear, there is so much to know about this, so in this post, I will outline the origins and why it is having such a large effect on our real estate market.

Fannie Mae was created by Franklin Delano Roosevelt, in 1938, to provide liquidity to the mortgage markets. It received federal funding until 1968, when it was converted to a privately held corporation.

Its use in current day mortgage market is that it provides guarantees (for a charge) of loans, more specifically, of the secondary market. The secondary mortgage market is in a bit of trouble, due to sub-prime lending practices.

It should also be said that the Treasury Department and the Federal Reserve (not a government agency, mind you) recently granted low interest loans to Fannie Mae and Freddie Mac to sure up confidence in many failing and problematic mortgage backed securities in the U.S. stock markets. It is an interesting political note, as well, that the prohibition of the U.S. Treasury Department to own stock of Fannie Mae, has been removed.

What are the implications for this thing? We don't know, ultimately. We are noticing an enlargement of government power, which won't allow the market to fail, then correct itself. I believe that this may be necessary to get us back to a nursing point, but I am a fan of Laissez-Faire- in other words, the market must correct itself. It has been proven many times over that the second the Government gets involved, it can create a larger mess. I suppose you could make the argument of its similarities of the separation of Church and State...Enter the small business person and entrepreneur, who may just save the world!!!

Thanks for reading! More tomorrow!

Ed Martin
Showcase Properties Unlimited
303-875-4450

What is the deal with the economy?

Hi bloggers!

What is the deal with the economy? There are rumblings of all facets of the economy that are in trouble- everything from your large, national banks, to grocery stores, to your favorite and addictive coffee chain. What is going on?

I won't claim to have any answers about what the economy is doing. It would seem that we are in a cycle with pockets of growth and pockets of depression.

Some banks seem to be doing fairly well- like Wells Fargo Bank, N.A.- which boasts a positive outlook, based on their positioning in the current market and intelligent management, is weathering the storm. It also happens to be my former employer.

Wachovia Bank, N.A. is having to cut about 6300 jobs- and showing a large loss of 8.9 billion. Tough stuff. Read the Rocky Mountain News reports.

I am under the opinion that the economic growth that has happened over the last several years has been under the 'discretionary' monkier, giving rise to things like 'organic food' and the coffee addiction that so many people maintain by going to their local Starbucks- which, by the way, is closing 9 of its stores in Colorado, alone.

The pedicab industry is being affected- I am making one-half of the money I was making last year.

It could be argued that we are going through a cleansing period, where the willingness to lend money and spend money is caught between the popular media and the upcoming November election.

Many people are holding their cards close to the vest, because of unsure futures. Whether I agree with this or not, it is a reality that the popular news media is playing a very key role in controlling how people behave. Information is unbiased, but its presentation is not.

So, what will we do? It can be said that the government is growing by the day, like homeland security. Yes, it can be said that the War in Iraq is costing money, but I would be willing to say that the tax rates are doing nothing but going up, which means that the government is the biggest business in town.

What are hot industries? Government contractors, health care, and I dare say smaller, vibrant businesses, like entrepreneurs, start-ups, and local companies. My theory of people buying smaller, more locally, and investing in bikes and public transit, instead of cars and timeshares, things are changing from the last 10 years. With large companies in trouble- like Wachovia, Qwest, Frontier Airlines, United Airlines- all are scaling back.

The silver lining: our capitalism is in a cycle. We are currently finishing a slow 10 year cycle, which may give rise to greater economic period of growth. Something to think about.

Thanks for listening!

Edward Martin
303-875-4450
Showcase Properties Unlimited
apexofdenver.blogspot.com

DNC Housing...You know it is on all of your minds!

Good Day bloggers.

This will be short. In doing some research, the DNC coming to Denver is going to have a huge economic impact on Denver. It will encourage a lot of spending and optimism about our general state and economy. Personally, I think that the case is a little overstated, but it will bring a lot of people to Denver, which is great.

I am planning on renting my place out during the DNC. I am currently charging $450 a night, which I am not getting any bites. Another strategy just surfaced: go to the housing wanted craigslist site. I have posted apartments available on craigslist before, and it has never turned out badly.

nightly rentals are going for $300-$600 in my range, which isn't too much to ask. I would ask: How much is a home worth in a short-term rental market? Check it out.

http://denver.craigslist.org

Thanks for reading!

Ed Martin
Showcase Properties Unlimited
Apexofdenver.blogspot.com
303-875-4450

The Colfax Corridor- improvements?

Hey all,

The Colfax corridor is obviously the focus of this week's blogging activity. My thought turns to improvements.

In looking at the street-scape of Colfax, it comes to me that improvements are the key to beginning a re-vamping of our favorite main street.

A current look:

The vision statement, courtesy of the City and County of Denver, for Colfax states:

• Colfax Avenue in 2020 will be a multi-modal, commercial and residential “Main Street” that complements and sustains the nearby neighborhoods and encourages walking, biking and transit use. The corridor teems with activity on the street and captures the attention of commuters and visitors.

• Multi-storied, mixed-use buildings with active ground floor uses characterize development nodes at the intersection of major transit routes along the corridor.

• Transportation components include a uniquely Colfax form of enhanced transit, structured parking at development nodes, on-street parking throughout, enticing pedestrian amenities, and plentiful bike racks.
  

• Housing density on the corridor supports transit and sustainable urban growth.

• Urban design integrates an eclectic mix of architectural forms and sustainable building materials which respect the surrounding historic architecture.
  

• Signage is simple and clear.

• Lighting and landscaping reinforce the street building line, enhance building facades as architectural features, and promote a pedestrian oriented environment.
  

• Significant structures have been preserved and adaptively reused.

Colfax welcomes and embraces neighborhood diversity that encompasses a wide variety of ages,
lifestyles, economic circumstances, ethnic groups and family types. Colfax exemplifies the best of what a city can offer: a vibrant, hip, and progressive urban avenue.

You can't get any more direct than this! Take a look at the entire plan here.

Thanks for reading!

Edward Martin
Showcase Properties Unlimited
303-875-4450
apexofdenver.blogspot.com