Number of county's homes may rise 70%
By Joey Bunch Denver Post Staff Writer
Article Last Updated:10/22/2006 10:25:27 PM MDT
This is going to happen, says developer Devin Davis. If not by us, then by somebody else with less to offer.
Elbert County - With a planned development that could increase the number of homes in the county by nearly 70 percent, residents who like the rural feel are gearing up to fight the growth.
"We moved out her for a lifestyle," said Laura Shapiro, who has lived on an 8-acre homestead in the Meadow Station subdivision since 1998. "And we don't want Aurora moving in next door."
Saturday night, about 60 residents gathered in the community's Rattlesnake Fire Hall to discuss scaling back - if not halting - a precedent-setting development, Spring Valley Vista.
The development, the subject of public hearings three times in the next two months, would bring 5,466 homes to a county that had 8,154 in 2004.
The 2,371-acre Spring Valley Vista community would set a benchmark for development density in its northwestern Elbert neighborhood: a home for every four-tenths of an acre.
Moreover, its roads, schools, water and sewerage would invite more such developments.
"We're not trying to stop development; I don't think we could if we wanted to," said Shellane Dorman, a neighbor to the Spring Valley Vista site. "But we are trying to make sure it happens in an intelligent manner. Putting high-density (zoning) up against agricultural property doesn't make a lot of sense."
While still bucolic, the area is marked for residential growth in the county master plan.
In the past few years, northwestern Elbert County, a few miles east of Parker, has attracted residents who commute to work in Denver. Real estate signs along the roadways promise bargains "starting in the low $500k's" in developments sectioned off by white fences.
"This is going to happen. This area is prime for development," said Devin Davis, who with his stepfather, Ron Heggemeier, hope to develop the property. "There's no way it won't happen; if not by us, then by somebody else with less to offer."
Spring Valley Vista promises to provide roads, water, a treatment plant and high-speed Internet, as well as a $5.5 million community center.
Heggemeier doesn't expect the largesse to hush most of development's critics.
"There's a no-growth contingent, and no matter what we do, we're not going to make them happy," he said.
Most of the homes in the community today are on 5- to 10-acre lots - much more density than the ranchlands knew before city folks started moving to Elbert County, said Hal Johnson.
"My family has been in Elbert County 65 years," said Johnson, who welcomes the boost to property values and the tax base. "All these other people came to a poor county, and I reckon they aim to keep it
Residents discuss plans for the 5,466-home Spring Valley Vista on Saturday at a local fire hall. We are trying to make sure it (development) happens in an intelligent manner, one says. (Post / Leah Bluntschli)that way."
Neighbors said they want Spring Valley Vista to abide by the same zoning rules their subdivisions did, with larger lots.
Debbie Trujillo worries about the heavy traffic the building boom will bring.
She lives in the nearby Mountain View Ranch development. From her 5-acre lot, she watches deer, antelope, coyote and other wildlife play.
"It's a very big change," Trujillo said of the zoning. "But it's a big change of lifestyle for the rest of us out there."
Staff writer Joey Bunch can be reached at 303-820-1174 or jbunch@denverpost.com.
MORE ELBERT COUNTY INFO AT www.ColoradoDreamHomes.net
Monday, October 23, 2006
Tuesday, October 17, 2006
Colorado's Growth Rate Tops Nation's
Population likely to hit 5 million in '08, 6 million by 2018
By Bill Scanlon, Rocky Mountain News October 17, 2006
Babies are a growth industry in Colorado, but the death rate is as flat as the real estate market.
Net result: a rising population, as more Madisons and Briannas, Jacobs and Joses are born, while the Herberts and Dorothys and Arthurs are hanging on well into their 80s and 90s.
As America celebrates its 300 millionth person today, Colorado posts a population of 4.8 million, plus a faster growth rate than most of the nation.
While the nation is growing at just under 1 percent a year, Colorado's rate is 1.4 percent, with a forecast of 1.8 percent growth in the near future.
That's a rate more typical of developing countries than of most Western democracies.
So far, Colorado has been able to accommodate that rapid growth, including an influx of illegal immigrants, without grinding traffic to a halt or a skyrocketing crime rate.
1 million more in 11 years
Colorado's population is expected to hit 5 million in 2008, just 11 years after it hit the 4 million mark.
And it's expected to reach 6 million by 2018, according to Cindy DeGroen of the state demographer's office.
The Front Range will continue to be the population hub, while in the short term the epicenter will move slightly east - from Jefferson County today to the fast-growing counties of Douglas, Weld and Adams tomorrow.
The number of households also will continue to accelerate, DeGroen said.
In 1950, 3 1/4 people shared each household. Now, it's 2 1/2 people.
The trend of not wanting to share the kitchen and bathroom with too many people seems destined to continue, particularly as more people become empty-nesters.
The houses themselves will be smaller as the huge retirement-age baby boomer generation exercises its clout and demands housing easy to care for and with easier access to entertainment, said Simon Montagu, director of the Denver Regional Council of Government's customer resource and support center.
"They'll want mobility around their houses, want to be closer to the bus lines," Montagu said. "They'll probably demand that we recalibrate the timing of the crosswalks so they have time to walk across."
More wealth than ever before will be in the hands of seniors.
The Central Platte Valley in Denver, now a singles scene, will be taken over by baby boomers, who nonetheless will frequent the microbreweries as part of a happy, active retirement, forecasters project.
As the urban centers sprawl, the number of travel miles will skyrocket, which will make investment in public transportation and alternative fuels even more crucial, Montagu said.
"I'm optimistic," he said. "People at the county and city levels have been working hard to make sure that in 10, 15, 30 years, this is a world-class city."
More diversity on horizon
Meanwhile, Colorado's population will become even more diverse.
The Hispanic fertility rate now is more than double that of non-Hispanic white women and nearly double that of all other ethnic groups combined.
Life expectancy will keep climbing in Colorado - it's now at about 78 years - but at the slower rate of the past six years, rather than the faster rate of the previous century.
Still, the children of the babies born this year may expect to live on average into their 80s and their children almost to 90 on average.
This generation of Coloradans has hit the first-ever plateau - merely equaling their parents' lifestyles, rather than exceeding it, said Joe Pelton, a futurist and space scientist.
"The problem is less of population growth and immigrants, and more of a shift of increasingly higher-paying jobs and better jobs overseas."
To counter that trend and to ensure that Coloradans of the future enjoy a comfortable lifestyle, education will be key and so will environmental sustainability, said Pelton, who recently left the University of Colorado and now teaches at George Washington University.
"Can we adapt? And in a more energy efficient way?
"Given the pressure from China and India, it really is a question of how to create and generate better jobs and well-paying jobs, and in a way that is friendly to the environment."
Get tons of Colorado information at www.ColoradoDreamHomes.net
By Bill Scanlon, Rocky Mountain News October 17, 2006
Babies are a growth industry in Colorado, but the death rate is as flat as the real estate market.
Net result: a rising population, as more Madisons and Briannas, Jacobs and Joses are born, while the Herberts and Dorothys and Arthurs are hanging on well into their 80s and 90s.
As America celebrates its 300 millionth person today, Colorado posts a population of 4.8 million, plus a faster growth rate than most of the nation.
While the nation is growing at just under 1 percent a year, Colorado's rate is 1.4 percent, with a forecast of 1.8 percent growth in the near future.
That's a rate more typical of developing countries than of most Western democracies.
So far, Colorado has been able to accommodate that rapid growth, including an influx of illegal immigrants, without grinding traffic to a halt or a skyrocketing crime rate.
1 million more in 11 years
Colorado's population is expected to hit 5 million in 2008, just 11 years after it hit the 4 million mark.
And it's expected to reach 6 million by 2018, according to Cindy DeGroen of the state demographer's office.
The Front Range will continue to be the population hub, while in the short term the epicenter will move slightly east - from Jefferson County today to the fast-growing counties of Douglas, Weld and Adams tomorrow.
The number of households also will continue to accelerate, DeGroen said.
In 1950, 3 1/4 people shared each household. Now, it's 2 1/2 people.
The trend of not wanting to share the kitchen and bathroom with too many people seems destined to continue, particularly as more people become empty-nesters.
The houses themselves will be smaller as the huge retirement-age baby boomer generation exercises its clout and demands housing easy to care for and with easier access to entertainment, said Simon Montagu, director of the Denver Regional Council of Government's customer resource and support center.
"They'll want mobility around their houses, want to be closer to the bus lines," Montagu said. "They'll probably demand that we recalibrate the timing of the crosswalks so they have time to walk across."
More wealth than ever before will be in the hands of seniors.
The Central Platte Valley in Denver, now a singles scene, will be taken over by baby boomers, who nonetheless will frequent the microbreweries as part of a happy, active retirement, forecasters project.
As the urban centers sprawl, the number of travel miles will skyrocket, which will make investment in public transportation and alternative fuels even more crucial, Montagu said.
"I'm optimistic," he said. "People at the county and city levels have been working hard to make sure that in 10, 15, 30 years, this is a world-class city."
More diversity on horizon
Meanwhile, Colorado's population will become even more diverse.
The Hispanic fertility rate now is more than double that of non-Hispanic white women and nearly double that of all other ethnic groups combined.
Life expectancy will keep climbing in Colorado - it's now at about 78 years - but at the slower rate of the past six years, rather than the faster rate of the previous century.
Still, the children of the babies born this year may expect to live on average into their 80s and their children almost to 90 on average.
This generation of Coloradans has hit the first-ever plateau - merely equaling their parents' lifestyles, rather than exceeding it, said Joe Pelton, a futurist and space scientist.
"The problem is less of population growth and immigrants, and more of a shift of increasingly higher-paying jobs and better jobs overseas."
To counter that trend and to ensure that Coloradans of the future enjoy a comfortable lifestyle, education will be key and so will environmental sustainability, said Pelton, who recently left the University of Colorado and now teaches at George Washington University.
"Can we adapt? And in a more energy efficient way?
"Given the pressure from China and India, it really is a question of how to create and generate better jobs and well-paying jobs, and in a way that is friendly to the environment."
Get tons of Colorado information at www.ColoradoDreamHomes.net
Tuesday, October 03, 2006
Aspen Mountain Gold
This is just sick...
By Jon Frankel
CNBC
Updated: 3:07 p.m. MT Oct 3, 2006
ASPEN, COLORADO - No need to fear the bursting of the housing bubble. The National Association of Realtors reports that pending home sales rose by 4.3 percent in August – a sign of stabilization. This latest barometer comes at a time when three U.S. homes are listed for more than $100 million dollars.
There is a house party in Aspen, Colorado, but you better be serious and not just curious.
“It’s like the $5 million dollar house is now $10 million and $10 million is now $20. You become used to it in a perverse way”, said Gideon Kaufman, a real estate and land use attorney. Twenty-two years ago, Nancy and Howard Gross bought their first condo for about $600,000.
“At the time we purchased, I said to my wife ‘we must be out of our minds’. The price was much more than my full-time home in Columbus, Ohio and a third of the size. We thought we were crazy. It appreciated and appreciated and appreciated”, said Howard Gross.
Today the Gross’ live in an 8,000 square foot house that they designed and built on this 15-acre lot.
“I must say I never dreamed of building or living in a home quite like this. Not only is it a special place to live but a good investment”, said Nancy Gross.
Aspen is home to priceless real estate and one of the things that is pushing the pieces is the limited amount of space to develop. It’s not unheard of for someone to come along and buy a $20 million dollar home and knock it down just to build something they really want, and in one instance a multi-million dollar home was on the market for just 12 hours.
The town’s history is silver mining, but Red Mountain is the real estate goldmine.
“I think it’s basic economics. Limited supply that is extremely regulated and our growth control becomes harder and harder, yet the demand remains constant and even increases”, said Kaufman.
Why the demand? Once a town known primarily for its skiing, Aspen in no longer just a winter playland. The summer season offers the great outdoors, as well as cultural and intellectual pursuits, which have contributed to an evolving real estate consumer.
“For some people, they experience sticker-shock when they get here, but soon they’re able to get their arms around the real value of real estate and being here in Aspen”, said Joshua Saslove, owner of Joshua & Co.
Joshua Saslove has been selling homes in Aspen for thirty years.
“This office so far in 2006 has closed $184 million dollars over 18 single-family transactions. That’s over $10 million per single family residential”, said Saslove.
Startling when, according to the National Realtors Association, less than 2% of all homes in the U.S. sell for more than a million dollars.
“In 2005, if you consider Snowmass, Aspen and Basalt, there was $2 billion worth of real estate sold. $1 billion in Aspen alone”, said B.J. Adams, owner of B.J. Adams &Co. Real Estate.
For this small town that’s a pretty big piece of the $2.3 trillion dollars in U.S. home sales last year. In Aspen this year, dollar volume is up 14%, the median sales price is up 36% and inventory is down 27%.
“The only thing that might keep us from exceeding the $2 billion mark is lack of inventory. We don’t have nearly as much to sell as we did a year ago. We have 20%-60% less inventory”, said Adams.
Which is why B.J. believes she can sell a cattle ranch sitting inside the Aspen city limits for as much as $15 million dollars.
“The value of real estate combined with the cost of construction make these numbers understandable”, said Saslove.
And what does it cost to build in Aspen?
“In 1996 when we started building $400 per foot. In 2000 it was $700-$800 per square foot. However, now in 2006, the product is selling for $1,300 - $1,500”, said Greg Hills, of Austin Lawrence Partners.
Those costs might explain why the condo market has appreciated between 20% and 60% and all the big ticket items might be fueling the run on fractional ownership at places such as the Hyatt vacation club and the St. Regis Residence Club, which is nearly sold out at prices from $300,000 to $1.5 million.
This is exactly why Nancy and Howard Gross are so happy. Remember, they bought their first condo for about $600,000, then stepped up and built their dream home? Well now it’s on the market for just under $14 million dollars.
“After living here full-time for ten years, nothing shocks me anymore”, said Nancy Gross.
“Yes, compared to something on the outskirts of Denver it seems like a lot of money, but relative to everything else around here and the prices of some of these homes, it’s on the money”, said Adams.
As always, go to http://www.ColoradoDreamHomes.net to get the best info on the DENVER METRO market...back to reality.
By Jon Frankel
CNBC
Updated: 3:07 p.m. MT Oct 3, 2006
ASPEN, COLORADO - No need to fear the bursting of the housing bubble. The National Association of Realtors reports that pending home sales rose by 4.3 percent in August – a sign of stabilization. This latest barometer comes at a time when three U.S. homes are listed for more than $100 million dollars.
There is a house party in Aspen, Colorado, but you better be serious and not just curious.
“It’s like the $5 million dollar house is now $10 million and $10 million is now $20. You become used to it in a perverse way”, said Gideon Kaufman, a real estate and land use attorney. Twenty-two years ago, Nancy and Howard Gross bought their first condo for about $600,000.
“At the time we purchased, I said to my wife ‘we must be out of our minds’. The price was much more than my full-time home in Columbus, Ohio and a third of the size. We thought we were crazy. It appreciated and appreciated and appreciated”, said Howard Gross.
Today the Gross’ live in an 8,000 square foot house that they designed and built on this 15-acre lot.
“I must say I never dreamed of building or living in a home quite like this. Not only is it a special place to live but a good investment”, said Nancy Gross.
Aspen is home to priceless real estate and one of the things that is pushing the pieces is the limited amount of space to develop. It’s not unheard of for someone to come along and buy a $20 million dollar home and knock it down just to build something they really want, and in one instance a multi-million dollar home was on the market for just 12 hours.
The town’s history is silver mining, but Red Mountain is the real estate goldmine.
“I think it’s basic economics. Limited supply that is extremely regulated and our growth control becomes harder and harder, yet the demand remains constant and even increases”, said Kaufman.
Why the demand? Once a town known primarily for its skiing, Aspen in no longer just a winter playland. The summer season offers the great outdoors, as well as cultural and intellectual pursuits, which have contributed to an evolving real estate consumer.
“For some people, they experience sticker-shock when they get here, but soon they’re able to get their arms around the real value of real estate and being here in Aspen”, said Joshua Saslove, owner of Joshua & Co.
Joshua Saslove has been selling homes in Aspen for thirty years.
“This office so far in 2006 has closed $184 million dollars over 18 single-family transactions. That’s over $10 million per single family residential”, said Saslove.
Startling when, according to the National Realtors Association, less than 2% of all homes in the U.S. sell for more than a million dollars.
“In 2005, if you consider Snowmass, Aspen and Basalt, there was $2 billion worth of real estate sold. $1 billion in Aspen alone”, said B.J. Adams, owner of B.J. Adams &Co. Real Estate.
For this small town that’s a pretty big piece of the $2.3 trillion dollars in U.S. home sales last year. In Aspen this year, dollar volume is up 14%, the median sales price is up 36% and inventory is down 27%.
“The only thing that might keep us from exceeding the $2 billion mark is lack of inventory. We don’t have nearly as much to sell as we did a year ago. We have 20%-60% less inventory”, said Adams.
Which is why B.J. believes she can sell a cattle ranch sitting inside the Aspen city limits for as much as $15 million dollars.
“The value of real estate combined with the cost of construction make these numbers understandable”, said Saslove.
And what does it cost to build in Aspen?
“In 1996 when we started building $400 per foot. In 2000 it was $700-$800 per square foot. However, now in 2006, the product is selling for $1,300 - $1,500”, said Greg Hills, of Austin Lawrence Partners.
Those costs might explain why the condo market has appreciated between 20% and 60% and all the big ticket items might be fueling the run on fractional ownership at places such as the Hyatt vacation club and the St. Regis Residence Club, which is nearly sold out at prices from $300,000 to $1.5 million.
This is exactly why Nancy and Howard Gross are so happy. Remember, they bought their first condo for about $600,000, then stepped up and built their dream home? Well now it’s on the market for just under $14 million dollars.
“After living here full-time for ten years, nothing shocks me anymore”, said Nancy Gross.
“Yes, compared to something on the outskirts of Denver it seems like a lot of money, but relative to everything else around here and the prices of some of these homes, it’s on the money”, said Adams.
As always, go to http://www.ColoradoDreamHomes.net to get the best info on the DENVER METRO market...back to reality.
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