Spanning the web

Interesting stuff from around the web:

Rocky Mountain News: File under nice hotel but will it give me Marriott Reward points? Ritz puts on finishing touches: It’s the home stretch for the $75 million Ritz-Carlton , which opens its doors a week from today.

Paul Kedrosky: File under the misery gets worse or how California Dreaming is turning into a real nightmare Option ARM Misery

Calculated Risk: File under what happens when corporations don’t pay their Analysts: Corporate Defaults to Rise “Drastically”

Zillow: File under 2007 ends 2007 - It’s a wrap

Trulia: File under 2008 begins New Year’s Resolutions for Online Real Estate and Trulia

Alex King: File under now this is what I call a year end review 2007 in Review

4Realz: File this under A trip down the memory super-highway

AMG: File under Chop Suey Subprime Woes Gives the Chinese Politburo 10% Stake in Major US Bank

PhotoMatt: File under Misery is the key to happiness.

If you have an interesting link that you’d like to share, just post in the comments. I’m always on the lookout for interesting readz!

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Mad World

2008 is predicted to be one of the worst years for the American Economy.

It’s also an election year and the year of the Summer Olympics.

Mad World indeed.

The good news: not all predictions (iMac) come to pass .

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Buying a Denver Home online

If you know what Redfin is all about, this article, Buying or selling a home? Forget the traditional realtor may intrigue you:

The Internet is increasingly taking on the duties once performed by agents. And while no one - yet - is suggesting that it’s a good idea to buy a house over the Internet sight unseen, a new business model is emerging that takes advantage of the convenience of Internet .

80% of all home searches start on the internet. So it’s no surprise that companies are using the internet to transform the way they buy and sell .

More on online home buying:

Buyers and sellers can save thousands on sales commissions and through rebates using online agencies, such as Real-a-Save:

FOR A BUYER

  • Home sales price: $300,000
  • Traditional 2.8% buyer’s agent commission: $8,400
  • 66% Rebate Real-a-Save clients would receive: $5,400

FOR A SELLER

  • Home sales price: $300,000
  • Typical 3.2% sales commission: $9,600
  • Real-a-Save’s standard sales commission: $2,500
  • Savings: $7,100.

It’s really too soon to tell whether or not online brokerages will be around or just another passing fad. If you talk to most people they love the idea but would prefer to stick to using a real estate agent no matter how much they despise agents. Why do people despise agents? Same reason people despise the government - a lot of upfront promises, not much after that. The internet won’t solve that problem.

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Double Dealing

Last night during the Sunday Night Football between Indy and Baltimore I managed to steal a glance or two at the Sunday Paper. This article entitled The art of the double deal. The first two paragraphs seemed rather interesting:

To investors, a good day is when they can buy a piece of or sell it. A better day is when they can do both.

Buying and selling the same home before sunset yields a quick profit to the fortunate investor who can work both transactions. It is the stuff of “get rich in ” schemes advertised in infomercials.

While the rest of the story is rather mundane.

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Gates Project or: How I Learned to Stop Worrying and Love Urban Redevelopments

I have never been a big fan of the new urban redevelopments: Lowry and Stapleton. When I first moved to , Lowry was an aging military base and Stapleton was an airport. Things changed when friends of mine moved into these urban redevelopments. They’re vibrant neighborhoods. They’re near the airport, city, zoo, museums, restaurants, and more importantly for my friends they’re family friendly.

Enter the Gates Project:

From fan belts to greenbelts - at long last the urban revival of the former Gates Rubber plant is taking shape.
Read the full story: Long-awaited Gates project gathers steam

It’s going to be a while before the Gates Project will be complete. I’ve learned to embrace these urban redevelopments and I’m looking forward to having another Linens and Things, Office Depot, Chili’s, et. al. fill our landscape. Who knows they may even add a Chipotle or a Qdoba or both.

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My old neighborhood gets some props!

Indian Creek was profile in the Post: Well-kept secret

Never heard of Indian Creek, the small parcel of land in the southeast corner of ? You’re not alone.
But the residents of the tiny neighborhood don’t seem to mind. They didn’t buy their homes to be trendy. They’re too busy enjoying the benefits of a tight-knit community with super-low crime rates.

It’s my old neighborhood here in . It’s a great spot for young people since it’s laden with condos and townhouses but more importantly it’s where the Cherry Creek and Highline Canal trails intersect.

For more on Indian Creek click on picture below:

indiancreek.jpg

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Links: Million Dollar Deals

Million Dollar Deals in :

Steve Forbes got rid off his:

Trinchera Ranch in the San Luis Valley has changed hands - from a man worth almost $500 million to billionaire hedge fund manager Louis Moore Bacon. Read the full story: Forbes sells Colo. ranch

Bandar bin Sultan decided to keep his:

A Saudi prince who put a $135 million price tag on his Aspen-area estate has taken the off the market because he got no suitable offers, his attorney and agent said. Read the full story: Saudi prince’s Aspen estate off the market

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What’s with Web 2.0 and wacky real estate domain names?

Social networking dominates Web 2.0 with sites such as MySpace, Youtube, Facebook. Web 2.0 stalwarts include Zillow and Trulia and now comes Zolve:

Zolve is an online real estate referral network, a business exchange that connects practitioners and service providers across the country and around the globe.

Zolve has a Colorado connection ( Springs) with an interesting twist:

Iraq is known for many things, but being an incubator for a new high-tech, American-based real estate businesses is not one of them. But from 2006 to 2007, a Baghdad garage converted to U.S. military barracks was the launching pad for Zolve, a networking and referral website for professionals that launched this October.

Read the full article: A site for real estate pros

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An intro to owning a duplex

The Post had an interesting read on owning a duplex called: Side by side:

Buying into a duplex is one way to afford a home without breaking the bank. But like any bargain, there are strings attached.

Buying into a duplex is one way to afford a home without breaking the bank.

But like any bargain, there are strings attached.

Duplex owners must compromise on repairs, maintenance and aesthetic issues with their co-owners.

And while both sides typically agree on the proper course of action, a harmonious relationship isn’t guaranteed.

While living in a duplex isn’t for everyone, getting a loan for a duplex or two-unit as your primary residence is no different (to terms and rates) than getting a condo, townhouse or even a single family residence. Moreover, if one of the units is rented, you can use the rent to qualify for the loan.

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Foreclosures dropping in CO or rising elsewhere

From the Rocky Mountain News: Metro area tumbles on foreclosure list

From the Post: Metro areas in California, Florida lead foreclosures

While it’s good to see that is not on the top ten, we’re still close to the top of the list.

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