There are three homes that are an absolute “steal” in this market that I want to tell you about in this weeks blogs. Here is the third one I am featuring:

2412 S Josephine St, Denver, CO, Observatory Park Subdivision. This incredible custom home combines the charm of Observatory Park with luxury living. This 5-bedroom, 7-bathroom home with a fully finished basement boasts of almost 5400 finished square feet. The price has just been reduced by almost $50,000. Stop by and see this home during the weekend of the 53 hour open house. Offered at $1,249,000.

More details at http://www.coloradodreamhouse.com/featured/

Take the virtual tour at http://www.wellcomemat.com/wm_video_1/FB807ACD40

Over 400 people came to the 53 Hour Open House Luxury Tour in Heritage Estates on April 3rd, 4th, and 5th and another 1500 people watched it online. One of the six homes in the tour was sold.

So what do we do for an encore? The 53 Hour Open House Luxury Tour will kick off the summer home buying season in grand fashion by giving you a chance to walk away with A BRAND NEW 2009 MERCEDES BENZ 550 S SEDAN. You read that correctly! As far as we can tell, no one in Denver has ever tried to give away a car before at an open house and certainly not a brand new Mercedes Benz.

Make sure you join us in ObservatoryPark on June 5th, 6th, and 7th as we unveil six more magnificent homes for you to tour. The home at 2309 South Columbine Street in Denver, CO is our next 53 Hour Open House and will remain open for 53 hours straight. You can come by and see this incredible $1.65 million, custom-built home from Brookstone Builders on Friday the 5th between noon and 5pm, Saturday the 6th between 9am and 6pm, and Sunday the 7th between 11am and 6pm.

For more details visit http://www.53houropenhouse.com

There are three homes that are an absolute “steal” in this market that I want to tell you about in this weeks blogs. Here is the second one I am featuring:

10093 Charissglen Lane, Highlands Ranch, CO, Kentley Hills Subdivision. You'll love this magnificent Oakwood Home in desirable Kentley Hills. The 4-bedroom, 3-bath home boasts of over 4100 finished square feet and over 5800 total square feet.  You get a lot of house for your money. The price has just been slashed by over $20,000. There is not a bigger house currently for sale at this price. Offered at $519,900.

More details at http://www.coloradodreamhouse.com/featured/

The house below is the 53 Hour Open House.

2309 S Columbine St Denver, CO.

Description: 4 bed | 5 bath | 6200 sq. ft.

Offered at $1,649,000.

This amazing new home from Brookstone Builders in Observatory Park offers the epitome of elegance, luxury and built green features. A sample of the outstanding features include strand woven bamboo flooring, 8 foot Alder doors, an exceptional use of creative glass tile, five fireplaces, state of the art mechanical system and a spacious floor plan boasting over 6000 square feet of living space.

Check it out at http://www.wellcomemat.com/wm_video_1/B8B2B9735C

8170 Sawgrass Dr, Lone Tree CO, Heritage Estates, Gated Community. 5 bed | 6 bath | 9700 finished sq. ft. This exceptional residence is an epitome of a luxurious lifestyle. A sample of the outstanding features includes eight fireplaces, a six-piece master bath, a swimming pool, spa, and an integrated water feature. The spectacular views of majestic mountains are inspiring from every angle. This just had a $200,000 price reduction. Offered at $2,595,000.

Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.

Check it out at http://www.coloradodreamhouse.com/featured/ 

Outstanding Duplex Style Living Close to DU, Shopping, Public Transportation, Cherry Creek, & Downtown Denver. You Can't Help but Notice the Quality of Workmanship & Upgraded Features that Combine to this Home not only a Fantastic Place to Call Home but a Tremendous Value at Today's Asking Prices. Beautifully Designed Tuscan Home Featuring Brazilian Hardwood Throughout, Slab Granite Countertops, Cherrywood Cabinets, Bosch Appliances, Professional Xeriscaped Landscaping, Oversized 2 Car Garage, Trowled Finished Interior Walls, Radiant Floor Heating in Master Bath, Upper Level Laundry, & Much More!

Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.

Take the virtual tour at http://vid2r.com/co/087006/

Last week, we stared looking at opportunities for first time home buyers with the $8,000 tax credit. We also started talking about some obstacles that are keeping people from taking advantage of the program. To find out if you qualify for the first time home buyer program and to find out how to clean up your credit, you can re-read last week’s column at www.coloradodreamhouse.com/news

This week, I want to tackle two more obstacles that are getting in the way of people buying their first homes. We said that credit score, fear of losing their job, and down payment were the primary barriers to buying a first home. Let’s take a look at down payment and see how you can overcome this issue. FHA is offering loans with only a 3.5% down payment. Let’s say you buy a home for $170,000, 3.5% of that purchase price is roughly a $6000 down payment. The Colorado Housing and Finance authority has a program that will lend you up to $6000 for a down payment at it does not violate FHA rules. The premise here is that local, state, and government agencies are moving quickly to lend people down payment money against their tax credit. Once you receive your refund, you’ll be obligated to pay back the down payment loan. For more details on this program, go to http://www.chfainfo.com and search for the “jump start” program.

Finally, how about the risk of losing your job? This is a very real and solid reason for not buying a home, but there are some things that you can do if you decide to go forward with a home purchase. First, make sure that your mortgage is a very small percentage of your total monthly bills. If you think your job might be in jeopardy be proactive and don’t wait to get laid off. Update your resume and start looking for new opportunities. If you need to switch occupations, enroll yourself now in night classes while you still have a job during the day.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com

You’ll love this magnificent Oakwood Home in desirable Kentley Hills.The 4 bedroom, 3 bath boasts over 4100 finished square feet and over 5800 total square feet. The huge gourmet kitchen with cherry cabinets and granite island opens to a spacious family room with a fireplace. The sliding glass doors lead out to your professionally landscaped yard with your own coy pond waterfall and stream. A separate dining room is perfect for entertaining a large group as is the enormous living room. The main floor has a combination of hardwood floors and tile with a spacious floor plan. The study is a perfect comfortable home office. The master suite is the jewel of the upper level providing more than enough space for a sitting area and of course the beautifully adorned private master bath. The three second floor secondary bedrooms are large providing plenty of room for kids to enjoy. All the bathrooms have been finished with granite countertops. The home is immaculate and in move in condition.

Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.

Take the virtual tour at http://vid2r.com/co/049005/

Ok, first time home buyers; this is a reminder that the $8,000 dollar tax credit is only good until Dec 1^st, 2009. So you need to purchase a home by that time and if we do the quick math, it looks like you have about 6 months to get that done.

Let’s go over how the program works: First, if you haven’t owned a home for at least three years, you qualify. Second, you need a credit score of at least 620 and if you go with an FHA loan, all you need is 3.5% of the purchase price for a down payment. Combine that program with incredibly low interest rates and home prices and this really is a good opportunity to get into your first home. One other note about the program is that the IRS will send you a REFUND this year for homes that close between April 9^th and December 1^st 2009. You can actually get a check in the mail for $8,000 dollars. You can also amend your 2008 return and collect the tax credit/check this year.

Now I know what you’re saying, “The tax credit/refund is great, but I am not buying my first home because I am afraid of losing my job, my credit isn’t so good, or I don’t have enough money for a down payment/closing costs.” Well you are not alone. As I speak with first time home buyers, those were the exact three obstacles that prevent them from taking advantage of this offer. So let’s address each problem and see how we might be able to overcome each obstacle.

First, credit can be repaired and in some cases, in 30 days or less. So see a qualified lender who can help you clean up your credit report. Not every lender specializes in credit counseling so be careful who you speak with.

Next week we’ll tackle the second and third obstacles mentioned above and talk about possible solutions.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com

This incredible custom home combines the charm of Observatory Park with luxury living. This 5 bedroom, 7 bathroom home with a fully finished basement boasts almost 5400 finished square feet.

The home has been designed with impeccable detail and attention to the finest materials. Finishes include Brazilian Cherry wood floors, Cherry Cabinets, Cherry plantation shutters, hand troweled walls and extensive use of clear Alder for the doors and paneling.

Recently reduced by 50K and now offered at $1,249,000. Please Call Dan Polimino at 303-522-1161 or Gary Lohrman at 303-829-5900 for a private showing.

Take the virtual tour at http://www.vid2r.com/co/087007

What do you get when you combine five great luxury homes to tour, 1200 people, and the first weekend in May? Answer a blockbuster fundraiser for University Park Elementary School. If you love great architecture and you’ve lived in Denver for a while, then you probably have visited or knew about the 5^th Annual Observatory Park Home Tour. Each year, a group of organizers work very hard to raise money for University Park Elementary and they do it by showing off their neighborhood. Observatory Park is one of Denver’s great and historic neighborhoods, but this home tour that is open to the public tomorrow has a bit of different twist. You see, none of the five-featured homes are for sale. They are private owners that have decided to open up their unique and distinct homes for public viewing. Each one has its own style of architecture, interior design, and some have a storied history. Organizers provide a guide that is packed with information about the builder, the architect, the nuisances, the specials features and finishes of the homes.

Now some of you may be saying, “Dan, that’s great, but I want to see some homes that are for sale in that same neighborhood.” The organizers have that covered as well with what they call the shadow tour. This is where realtors can make a donation to the school and in turn open up their listings on May 3^rd for the public to tour the “for sale” properties. Realtors can donate $50 dollars for each listing or $100 for two or more and get their homes listed in the tour directory that goes out to the people attending.

Anyone wishing to spend some time strolling through the homes of Observatory Park tomorrow May 3^rd between 11am and 5pm can purchase their tickets at the school at 2300 South St. Paul. 100% of the proceeds will enable the University Park PTA to financially contribute to important programs of the school. No doubt a worthy cause and I hope you’ll support them this weekend.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com