2010 | Cherry Creek Today

Denver Real Estate Rebound?

December 29, 2010 By Kevin

Real Estate Reports & How Micro-Markets Define The Case

If anyone saw the S&P/Case-Shiller Composite yesterday, you’d probably ask “what’s new”? And that “Real estate took another dip nationally”. Per Composite:
- An annual price fall of .8% (October 2009-October 2010)
- 1.3% price fall from (September 2010 and October 2010)

But Same Old Gloom and Doom For Denver Real Estate?

No — better yet…I should say ”it depends”. as a DC Metro realtor, I had good reason for some some excitement as the Metro area was just one of four “regions” to see annual appreciation per the report. San Diego, San Francisco, and Los Angeles rounded out the list of Metropolises.

What Does This Have to Do With Denver?

I noted in a post this morning that “Denver fared well” in this study despite 1.8% depreciation. In my humble opinion, any area in this study without more than a two percent depreciation rate could argue their market is stronger”. What was that, you ask? If you’re starting to question my basic familiarity with math, bear with me

Real Estate Market Stats SP Case Shiller Denver Real Estate Rebound?

When Denver margins demand more definition

The Real Estate “Micro-Market” – The Real Barometer of Market Strength

I understand national data based on comparisons of “mega-tropolises” are engaging but I call them fundamentally flawed. No, this does not help me communicate optimism in the DC Metro area. But, in my opinion, the large market studies (in which the margins are so nominal) are just “noise”.

There are many outlying DC Metro areas that have seen depreciation over the October 2009/October 2010 time-frame defined in the study. But much of DC and the surrounding close-in suburbs pulled the averages above par.

I’m not a Denver expert by any means but I’d be willing to bet that a quick market study during this same period would show appreciation in many of the micro-markets.

While it’s exciting to give consumers confidence, in my opinion it’s also important to continue to remind them that real estate cannot market cannot be defined these “mega-tropolises”. They often can’t even be measured by zip codes, or towns, or cities.

Micro-markets can best be defined as a study in real estate trends on an almost a block by block basis. It’s also heavily defined by property types that lie in particular areas. For example, there is a crying need for large condos in close-in DC. And there are plenty of people willing to pay a premium for it.There are also neighborhoods in high demand because of certain amenities, proximity to public transportation.

So while the S&P/Case-Shiller study may show Denver in the “negative” — even an East coast boy like me realizes that Denver has some neighborhoods that are more than holding their own. And this is precisely what is wrong with the gross generalizations that are the product of these studies.

Thoughts?

Licensed in Virginia, Maryland, and D.C., Kevin Koitz from The Koitz Group @ Coldwell Previews International specializes in Washington DC Luxury real estate and surrounding fine DC Metro suburbs. Visit his Greater Bethesda Maryland real estate blog if you’re looking for more close-in DC Metro info…or just want to say hey!

Banner photo by pbo31, available under a Creative Commons Attribution-Noncommercial license.

An Inexpensive Renovation That Can Go A Long Way !

December 22, 2010 By Brian Kinkade

Thinking of doing a renovation to your home, but know that you may be selling your home in a few years. The goal of any renovation if you plan on selling should to make sure that you do a renovation that will return a large percentage of what it cost you to do.

You can view part of that return as the reward of your home selling faster and standing out in a market crowded with homes for sale.

If you are thinking of selling your home down the road, the same way you may call an architect or a kitchen designing in the planning process, call your REALTOR® and include them as well. Ask them what they think of your plans. Will the investment be a wise one, and make sure to go over your final choices with them. Tell them you won’t be the least bit offend but if the market in heading away from wood floors and leaning towards stone you want to hear the truth, as some day you expect them to bring top dollar for your home.

As of late I have noticed a fairly inexpensive renovation receiving a great deal of attention when potential buyers look at a home. If your hot water heater is on its last leg don’t wait for an accident before replacing it. Any potential buyer will see that old hot water heater as a sign of something that will need repair shortly. Replace your old hot water heater with a new tank less hot water. The unit will save you money quickly on your electric bill. Being a fairly new technology the perception to a potential buyer is that you’re an excellent person to buy a home from. Last but not least, you may pick up some additional storage, which in some cases is the biggest win of all.

Renovations that return the most in any market place are a very regional decision. If you are planning on selling your home, in the next few years, call your REALTOR® before you start any major renovation, they will be glad to help you make decisions and it will serve you both well down the road.

About the AuthorFort Lauderdale Realtor, Eric Miller is a broker associate /owner with Keller Williams Realty in Fort Lauderdale. Eric Miller and Associates is an award winning team of Ft. Lauderdale realtors and can be found on line www.FortLauderdaleGroup.com. Thinking about purchasing a home in the Fort Lauderdale area Eric Miller provides complete access to all listed homes at Fort Lauderdale Homes for sale. Thinking about a Fort Lauderdale Condominium, you can view every Ft. Lauderdale Condo for sale at, Ft. Lauderdale Condominiums for Sale. Eric and his team have worked in the Fort Lauderdale Real Estate market for over ten years and Eric was a top agent at Prudential prior to joining Keller Williams.

Filed Under: Denver Real Estate Tagged With: Denver Home Sales, Home Renovations

Preloaded Cards Available for Use with New Cherry Creek Meters

December 17, 2010 By Shannon

Just in time for the holiday season, the Denver Public Works is offering ParkSmart Denver cards to those who plan to use the parking meters found in downtown Denver and in Cherry Creek.

Recently, the city completely replaced the parking kiosks in Cherry Creek and in the downtown area with SmartMeters. Not only are these new meters more eco-friendly because they run on solar power, but they also accept credit cards and feature a digital display that shows how much time is left on the meter. Where law enforcement is concerned, the meters are also convenient because the flash different colors when the time has expired.

Although the installation of the new meters cost Cherry Creek $380,000, business owners and residents feel the change was worthwhile. In fact, over the past several years, there have been numerous complaints about the parking kiosks, which many found to be complicated to use. According to many business owners, the kiosks resulted in a drop in business as consumers tried to avoid Cherry Creek so they wouldn’t have to deal with the inconvenience of using the kiosks. Similarly, many residents reported that their friends had stopped visiting them out of fear of getting an expensive parking ticket.

“They were terrible, terrible, terrible, terrible, terrible, terrible,” said David Ellis, who is the owner of David Ellis Jewelers on 3rd Avenue, in a Denver Daily News article. “They just didn’t work, they were no good, people couldn’t find them, people didn’t know how to use them, they had to have an education. When people are shopping retail electively, they want an education. Cherry Creek’s finally getting meters and not baloney kiosks that were just ridiculous.”

While the new meters still accept quarters, which is another change from the kiosks that had been installed in 2004-2005, those who want to pre-pay for their parking time can easily do so with the new preloaded cards. The plastic cards, which are the same size as a credit card, can be preloaded in $5, $15, $25, $50 and $100 increments. No extra fees or charges are assessed when using the cards, which can be purchased at the Wellington Webb building, King Soopers, Downtown Denver Partnership, Wastewater Management Division building and both Tattered Cover bookstores in Denver.

“We believe the SmartMeters will make Cherry Creek North a better and more convenient destination for shopping,” said Julie Bender, who is the president and chief executive of the Cherry Creek North BID¸ after the kiosks had been replaced.

The preloaded cards can be used in any of the 4,200 Smart Meters that have been installed in downtown Denver and Cherry Creek.

Filed Under: News & Events Tagged With: Cherry Creek North, Denver Smart Cards, Denver Smart Meters

Cherry Creek Mall Hosts its Annual Santa Claws and Paws Event

December 15, 2010 By Shannon

For the past few years, the Cherry Creek Mall has held a special Santa Claws and Paws event that has been quite popular among residents of the area. With this special event, residents are invited to bring their dogs and cats to the mall to socialize and to show off just how cute their pets really are.

Since the introduction of the Santa Claws and Paws event, it has continued to grow. In fact, this year’s event drew in more than 100 dogs and cats along with their human owners. Although there was no holiday costume contest this year, the owners still dressed their beloved pets up in holiday clothing, including holiday sweaters, bowties, hats and even reindeers.

In addition to enjoying time with pet owners and their adorable pets, participants received a keepsake photo of their pets with Santa. Spending time with Santa at the Cherry Creek Mall is an extra special treat, as many in the area consider the mall’s Santa to be one of the area’s best. Not only are the decorations surrounding the mall’s Santa quite impressive, but Cherry Creek Mall’s Santa is known for being good-natured and for taking the time to make each of his visitors feel special – whether they have four legs or two.

Filed Under: News & Events Tagged With: Cherry Creek Mall, Santa Claws and Paws

Lee Palmer Everding ~ Denver Eclectics

November 19, 2010 By Brian Kinkade

Lee Palmer Everding is the Founder and Director of Denver Eclectics. Thirty years ago, as part of her Junior League work Lee started a book club for twenty women. They met for two years once a month discussing Kubler Ross’s Death and Dying and Gail Sheehey’s Passages. Because of women’s interest and Lee’s tireless entrepreneurial ability and curiosity, Denver Eclectics has grown to five hundred plus members with over thirty-two programs a year. Presenters with local, state, national and international reputation have graced Eclectics’ programs. Although Lee elicits feedback from Eclectics members, she alone creates and directs the yearly programs. Also, while members are charged a modest fee, she subsidizes the programs from her own personal resources. Anyone who expresses a desire to join but cannot afford the membership fee is accommodated until the membership reaches its ceiling of about 500 members. A copy of the latest 2008 – 2009 Agenda’s are attached. Beginning in 2006 thru 2008, twelve of the Eclectics’ programs were taped and then broadcast on KBDI, Channel 12 so that it contributed to an even wider audience in Colorado and beyond and is still re-run because of the lasting content of the programs. The impact of Denver Eclectics is now broader than its original Junior League beginnings and has become one of Denver’s educational and cultural institutions.

Lee’s pioneering spirit and energy provides a role model of women’s leadership capabilities for enhancing the status and role of women. Through her background in social work, she has established a long track history of strengthening organizations that positively impact the lives of people at all levels and from all backgrounds. She is the Founder and Director of Denver Eclectics, a Licensed Clinical Social Worker and Community Leader.

Her dedication to giving women an opportunity to network, learn and share through Denver Eclectic’s is reflected in its mission:
“Eclectics is…a group of bright, interesting and diverse women learning through programs, field trips and life enhancing events. Our goal is to challenge, to have fun and to share with one another. Agreement on issues is not expected, but our tradition of listening and having a civil dialogue and respect for all will be our focus. We also encourage networking so other community opportunities will be available to anyone who is interested.”

Lee’s leadership as founder and director of Denver Eclectics has helped to enlighten women on timely, spiritual, economic, social and cultural issues. This program has grown from a small group meeting in homes to over 400 plus women who come together to dialogue about the hot topics and issues of the day and spanned over 3 decades. The programs help point women to ways in which they can help make meaningful contributions to the lives of others. Each program becomes a call to action and with Lee’s leadership, monies and volunteer commitments flow to support nonprofits, political causes, and community activities across Colorado and the nation.

We welcome you to join us in honoring Denver philanthropist and Denver Eclectics Founder, Lee Palmer Everding (and Cherry Creek resident!). Click here for more information.

Filed Under: In The Spotlight Tagged With: Denver Eclectics, Lee Palmer Everding

Cherry Creeks’ So Perfect Eats Gets Off to a Good Start

November 15, 2010 By Shannon

While fans of Pasta, Pasta, Pasta were sad to see the restaurant go, its replacement has already started to create quite the stir. So Perfect Eats, which is described as a “lifestyle cafe” and is owned and operated by former senior VP director of Pacific Sunwear Lynda Campbell, provides its customers with food and entertainment all at the same time.

The café, which is decorated with turquoise, lime green and white colors, provides customers with a place to learn how to entertain at home while also providing homemade foods on its menu.

“We roast our own meats, make our own chutneys and jams, bake our own ciabatta and baguettes, and we cook and bake in small batches so that there’s no waste,” said Campbell.

Fresh-baked quiches, homemade breads, salads, homemade soups and desserts such as cookies, cupcakes and brownies are all on the menu, which changes seasonally.

“I’ve always been in fashion retail, but I’ve also always loved to cook, bake and entertain, and the café is really about how to entertain at home,” said Campbell. “My mom was a really good cook, and it wasn’t unusual for us to have thirty people over for dinner, and I’ve been cooking ever since I could reach the stove.”

So far, Campbell reports that business has been good.

“I have a small group of regulars that keep coming back and spreading the word, and while I’m not exactly where I want to be, I’m close, and it keeps getting better every day,” said Campbell. “We have everything here to make a holiday party perfect, and the pies are amazing.”

So Perfect Eats offers daily specials and is currently accepting pie orders for the holidays. The restaurant is open Monday through Friday from 8:30 am to 6:00 pm and on Saturdays from 8:30 am to 4:00 pm.

Filed Under: Fine Dining Tagged With: Cherry Creek, Pasta, So Perfect Eats

Cherry Creek Sees Improvements in Time for the Holiday Season

November 15, 2010 By Shannon

While visiting Cherry Creek North for your holiday shopping, you might be surprised by some of the improvements that have been taking place within the popular shopping district. In fact, the shopping district has just finished going through the first major improvements it has seen in the last 20 years.

Largely driven by feedback from customers, smart meters have now been placed at the parking kiosks throughout Cherry Creek North. Energy-efficient lighting has also been put into place along the streets, better signs have been installed, new store directories have been put in place at every intersection and new plants have been placed along the walkway.

“The new lighting is going to make it a much better nighttime environment within the district, the new landscaping will be beautiful to look at,” said Jule Bender, who is the president of the Business District.

In all, the project cost about $18.5 million, with the more than 300 businesses within the district picking up the cost.

Cherry Creek Shopping Center has also been transformed for the holiday season. This year’s theme of Ice Palace has already been launched and Santa has already paid the shopping center a visit. In addition to the holiday décor being designed to look as if it was carved from ice, this year’s exhibit also features some highlights from the upcoming “Chronicles of Narnia” movie.

Filed Under: News & Events Tagged With: Cherry Creek North, cherry creek north shopping district, Cherry Creek Shopping Center

Q Closes its Doors While Asian Bistro Prepares to Open

November 14, 2010 By Shannon

For fans of Q Worldly Barbecue and Lounge, there is some very bad news to announce: the restaurant has officially closed its doors indefinitely.

Citing the poor economy and the summer construction as two major obstacles the restaurant has had to face recently, co-owner Bekah Donovan Pellegrin has provided very little hope that the restaurant will open its doors again.

“The short version is that the crappy economy and all the summer construction that was going on in Cherry Creek made it very difficult for us,” said Pellegrin, who also operates the Eco-Burger located just across the stairwell from Q’s. “There wasn’t any parking available, which interfered with a lot of things, and we’re coming into a slower time of year, and we couldn’t wait a whole other year to see if things picked up again.”

After being a part of Cherry Creek for two and a half years, Q Worldly Barbecue and Lounge was known for its international sauces, smoked big and live blues band performances. Despite the fact that Pellegrin and her husband, David, still have two years left on their lease, they say the possibility of reopening the restaurant is very slim.

“We still have the space for now, and there’s a very small possibility that we may reopen as the Q, but at the moment we’re weighing other options, talking to our customers and seeing what makes sense mathematically and financially.”

For now, the couple is focusing on building up business at Eco-Burger and is exploring the possibility of replicating the concept elsewhere.

“We know when we opened Eco-Burger that we might want to build more, so that’s something that we’re thinking about.”

At this time, the couple hasn’t created any solid plans for opening another Eco-Burger. There are, however, other restaurant options popping up elsewhere in Cherry Creek for those who will miss the Q. Sweet Ginger Asian Bistro & Sushi, for example, is slated to open later this month on 2710 East Third Avenue, which is where Plush once was located.

“We want to try and open before Thanksgiving, and we should have our liquor license by next week,” said Julie He, who is the owner of Sweet Ginger Asian Bistro & Sushi and the former owner of Jason’s Thai Asian Bistro. “It’ll be fusion, with a little bit of Thai, a little bit of Chinese and a little bit of sushi. I think Cherry Creek needs a Thai restaurant and that the neighborhood will be happy that we’re here.”

Filed Under: Fine Dining Tagged With: Jason’s Thai Asian Bistro, Q Worldly Barbecue and Lounge, Sweet Ginger Asian Bistro & Sushi

Denver World Affairs Council Silver Anniversary Celebration

November 5, 2010 By Brian Kinkade

On January 11, 2011 Institute of International Education (IIE) will hold the Denver World Affairs Council Silver Anniversary Celebration. We will be honoring Denver philanthropist and Denver Eclectics Founder, Lee Palmer Everding (and Cherry Creek resident!). In addition, we will feature keynote speaker Retired United States Senator Alan K. Simpson from Wyoming. He is currently Co-Chairing President Obama’s Commission on Fiscal Responsibility and Reform. The Commission is expected to report their findings on December 1st, so the event will be extremely timely and stimulating.

The event is a luncheon on Tuesday, January 11, 2011 at the Grand Hyatt downtown. Registration will begin at 11:30am and the luncheon program will begin at noon. Anyone interested in attending to RSVP at www.rockymountainiie.org/silver.

Filed Under: News & Events Tagged With: Denver World Affairs Council Silver Anniversary Celebration, Institute of International Education

N3L Options Launches Grand Opening With Exciting New Interactive Displays

November 3, 2010 By Shannon

N3L Optics recently unveiled its newly remodeled store at Cherry Creek Mall. Although the store is not new to the mall, the grand re-opening brings with it many changes to the layout and overall design of the store.

N3L Optics has long been a premier destination for those who are in the market for sport performance eyewear. The store features a wide variety of sunglasses that have been designed specifically for the athlete or outdoor enthusiast. With 18 different brands of eyewear available, athletes have many options available to them. Some of these include Electric, Oakley, Ray-Ban, Revo, Rudy Project, Smith and Tag Heuer.

As part of the new design, customers can now interact with different types of technology in order to make certain the sunglasses they have selected will truly meet their needs. At the “Explorer Chamber,” for example, shoppers can put the eyewear on as they test the comfort and fit against light, wind and UV light. Or, they can go to the “Motion Mirror” in order to take pictures of themselves, which can then be sent in an HTML email to friends and family to get their opinions on certain looks. Another new feature, the “Immersive Touch Screen,” allows customers to search through the store’s inventory according to environment or sport in order to find a lens and frame that suits their lifestyle needs.

The new store’s hours are from 10:00 a.m. to 9:00 p.m. Monday through Saturday and from 11:00 a.m. to 6:00 p.m. on Sundays.

Filed Under: News & Events Tagged With: Immersive Touch Screen, N3L Optics, sport performance eyewear