New -vs- Used Homes

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Which type of home makes a better investment?

Most people would probably tell you they’d rather be driving a new car instead of a used one, but the reasoning behind that choice is easy to understand. Used cars just don’t last very long, and they generally cost a lot more to keep running. When it comes to a new vs used home, however, a house can last many lifetimes, and the differences between the two products can be extensive.

New home sizzle

The most compelling benefits derived from buying new homes are functionality, efficiency, and the hot new designs and features. This has sent many homebuyers flocking to visit new model home communities on the weekends, without even considering a used home. If these aspects were all that mattered, however, then you’d probably be prepared to make this decision right now.

One of the main advantages of buying a new home is that you can get the latest technology and sustainable building techniques. To see our available new homes, visit our website: newtownbuilders.com.

Used home tangibles

Used homes provide their owners with mature landscaping, close-in locations, full brick exteriors, and sometimes a neighborhood charm that cannot be duplicated so easily with new homes. Over the years, buyers could save money by buying a used home in an established or existing neighborhood instead of paying a similar price for a smaller, but brand new home, elsewhere. Times have changed, though.

New -vs- used price gap

Although new homes have generally been more expensive due the increasing cost of labor and materials, that isn’t always the case anymore. More recently, market forces have worked to close the “value gap” between these two home choices in the marketplace. Today, you might see some surprising comparisons from new to used, depending on your location and price range. Now, there are many used homes that are easily more expensive than new, primarily due to the desirability of a particular neighborhood or location.

Make comparisons

In order to best identify the pros and cons of choosing a Denver new home vs used home, make comparisons: consider price, location, neighborhood, customization, safety, landscaping, energy efficiency, maintenance, and the most important: your family needs.

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For more information on Denver new home, Stapleton new homes, Denver new construction, and Denver new home communities, visit our website Denver new homes for sale.

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New Town Builders Using Blue Stain Pine

stapletondenver.com

New Town Builders announced its plans to continue using wood impacted by mountain pine beetles, or Blue Stain Pine, at a press conference.

More than 20 million acres across Rocky Mountain states have been impacted by the beetles, which kill the pine trees.

Perry Cadman, chief financial officer at New Town, said the wood is structurally sound so the builder plans to use it in the  frames of their Denver new home communities.

“It’s actually lumber that’s milled in the state of Colorado, harvested in the state of Colorado, and we’re using it to build all our homes …,” Cadman said.

The press conference was held inside New Town’s Central Park Rows in Stapleton’s newest neighborhood, Central Park West. The townhomes’ framing was still exposed, revealing the Blue Stain Pine.

“It feels like I’ve been working on this my entire life,” said Sen. Mark Udall at the press conference, emphasizing his concern over finding solutions for the dead pines.

“Our economy is struggling like the rest of the country, but we’ve got a secret weapon – to me, that’s the spirit of inspiration,” Udall said. “There’s not enough money for us (the state) to cut and turn those trees into something profitable, but you’re doing that,” he said to New Town Builders.

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Two Builders Roll Out Net-Zero Energy-Efficient Homes

by Steve Raabe | The Denver Post

Utility bills could become a forgotten annoyance with two Colorado builders launching new models of highly energy-efficient new homes in Denver.

While net-zero energy homes already are available from custom builders, the rollouts by KB Home and New Town Builders are believed to be the first production-scale models to be offered in Colorado.

Net zero is defined as a home that produces at least as much energy as it consumes.

“The concept is to build super-efficient homes where we can clearly demonstrate energy savings,” said Gene Myers, chairman of Denver-based New Town Builders.

New Town Builders makes saving energy beautiful. To learn more about our zero energy new homes, please visit our website: newtownbuilders.com.

New Town has built a $424,000 net-zero model home at Stapleton and is offering the feature on any of its seven designs at Stapleton’s Central Park West neighborhood. The price is $26,900 more than the same home without net-zero features.

Averaged over the course of a year, Myers said, home owners can expect to pay nothing in electric and natural-gas bills because their houses’ rooftop solar panels will generate enough extra power to offset utility costs.

The 9.9-kilowatt solar array is supplemented by energy-efficient appliances, extra insulation and construction techniques that reduce energy loss.

Projected utility cost savings are verified from audits by a third-party rating agency.

Los Angeles-based KB Home on Friday plans to unveil a net-zero energy model at Bear Creek Meadows in Morrison. In coming months, the feature will be offered at other KB subdivisions in Colorado.

Builders are concerned, however, about the ability of buyers to finance the homes because mortgage underwriters typically do not take into account energy-saving features that boost purchase prices.

As a result, some buyers may not qualify for a mortgage even though their monthly payments effectively would be cut by the lack of utility bills.

U.S. Sen. Michael Bennet has introduced legislation to address the issue.

The Sensible Accounting to Value Energy Act, or SAVE, would direct federal mortgage loan agencies to consider expected reductions in energy costs when making loan-qualification calculations.

“The SAVE Act would create a more complete and accurate picture for mortgage underwriting by accounting for added value and energy savings built into homes,” Bennet said. “This bipartisan bill would encourage investments in home-energy improvements and new energy-efficient homes, create more than 80,000 jobs, and save Colorado families money at no cost to taxpayers.”

The bill is awaiting a hearing in the Senate Banking Committee.

“Lenders are not offering energy-efficient mortgages and there is no good reason they are not,” said real-estate consultant Dave Porter of PorterWorks in Stanwood, Wash. “The SAVE Act is long overdue.”

Homebuyers may be slow initially to embrace net-zero energy homes with solar arrays, but then “the Prius effect” will take hold, said John Bringenberg, chief executive at Denver-based SunTalk, a solar-panel installer.

“One day, and it isn’t more than 10 years away, we can be pretty sure everyone will have some solar component,” he said. “A house isn’t going to just sit there in the sun, it will generate electricity.”

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Small Biz: A Bold New Path for New Town Builders

by Mike Taylor | cobizmag.com

It started with an email to Perry Cadman asking the chief operating officer of New Town Builders if he’d consider building a “demonstration” house framed with wood from pine-beetle timber.

A meeting followed, during which, Cadman says, “I just looked at everybody and said, ‘If I’m going to go through the brain damage of one house, why wouldn’t I just build all of them with it?’”

Why not, indeed. While the notorious pine beetle injects a fungus that cuts off nutrients and eventually kills the tree, it does no damage to the wood itself. “And it’s going to create jobs in Colorado,” Cadman reasoned. “It’s Colorado-sourced material. And we need to clean up the forests. So we started down that path.”

Thus, beginning in early October with a three-unit row house, New Town Builders has been framing all its houses – about 20 so far – with beetle-kill timber harvested from Colorado forests and milled into 2 x 4 and 2 x 6 framing studs at Intermountain Resources in Montrose.

New Town Builders was already at the forefront of energy efficiency. In 2009 it became the first production builder in the Denver area to offer solar energy systems standard on all new homes.

The Denver home builder views the use of beetle-killed timber as an extension of that sustainability mindset. Although the new-home construction business has been anything but robust, Cadman says it is improving for New Town Builders. In all of 2010, Cadman says New Town built 43 homes. As of early December in 2011 it was up to 82 Denver new homes for the year.

“Our goal is to have one of the most energy-efficient houses out there,” Cadman says. “But secondarily, we try to use products that are environmentally … beneficial, I guess you could say.”

Until New Towns’ initiative, the bluish-gray wood had been put to creative if limited use in the making of furniture, picture frames and even caskets. But that’s an infinitesimally small dent in the more than 3 million acres of Colorado timber that the beetle is estimated to have killed.

“The mountains are such a huge piece of why people move to Colorado and to Denver,” says Cadman, 51, who earned a dual degree in corporate finance and real estate construction from the University of Denver and has worked in the building industry ever since.

Previously New Town Builders sourced 95 percent of its vertical framing materials from out of state. Now all of its framing studs come from beetle-killed lodge pole pines harvested in Colorado. Cadman says that beetle-infested timber still standing can be harvested for up to eight years after the tree dies; fallen timber must be harvested within about three years.

“We’re not paying any more or any less for this material,” Cadman says. “The incentive we have is there’s a state sales tax exemption on this material. That makes it competitive for us to use it.”

The wood is graded by West Coast Lumber Inspection Bureau to ensure it meets construction standards for strength and durability.

The initiative by New Town Builders is of obvious benefit to the Montrose lumber mill, Intermountain Resources, which had fallen on hard times and has been in receivership since May 2010 but has continued to operate. With 90 employees itself and another 100 to 120 contract loggers and haulers, the mill provides about 200 jobs in Southern Colorado.

“We are hoping to find a buyer for the mill’s assets, and we’re well along that path,” says Pat Donovan, managing director at Cordes & Co. and the court-appointed receiver for the mill. “In terms of what it means to have New Town Builders as a customer, it’s great.”

Although Cadman says he hopes other builders will join New Town in using the blue-stained lodge pole pines in their framing, Donovan says that building codes in some Colorado municipalities pose an obstacle.

“They call for Hemlock fir and Douglas fir as framing material, and we grow little to no Hemlock fir in the state and very little Douglas fir,” he says. “We’re hopeful there will be changes in the building codes encouraging the use of beetle-kill lumber because its properties are the same as the Hemlock fir or the Douglas fir that’s called for in building codes.”

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Home, Sweet (Green) Home

By Courtney Drake-McDonough | denverpost.com

Coloradans are getting good at living green. Both outside and inside the house, residents are striving to minimize their impact on the environment.

But what about the houses themselves? An increasing number of developers are building sustainable developments so that people can reside, dine and shop in an Earth-friendly way — and they’re finding an eager audience for their offerings.

Tim Sullivan and his wife, Chris, wanted to move to a community that generates its own power.

“I’ve always been interested in renewable energy and the new-urbanism style of development,” said Tim Sullivan.

The Sullivans opted to build at Geos Neighborhood, an Arvada development set to break ground early next year. The company behind the community, Geos Development, bills the project as the nation’s largest net-zero energy, master-planned residential community. In addition to Geos, companies riding the wave of increased interest in sustainable, master-planned communities include Lend Lease with its Horizon Uptown in Aurora, and Caribou Companies, which is building Caribou Ridge Homes in Nederland.

Energy Star and beyond

Just how green is green in the homebuilding industry? Many builders participate in the Energy Star program, which requires strict adherence to U.S. Environmental Protection Agency guidelines regarding insulation, windows, ducts, heating and cooling equipment, lighting and appliances.

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Others take it many steps further, building communities that are “off-grid” or “net-zero,” in which renewable energy is generated on site to power the community.

Geos Neighborhood will generate enough of its own renewable energy to offset the annual power needs of the community’s 250 homes. The developer plans to achieve that through solar panels and passive solar orientation; highly insulated airtight building; heat recovery ventilators for fresh air and minimal energy loss; geothermal heating, cooling and water heating; and high-efficiency lighting and appliances.

Green houses cost more to build, but just how much more depends on the level of sustainability.

“Many national and local large-production builders quote 2 to 3 percent (more expensive), but that raises a question of what they mean by ‘green,’ ” said Norbert Klebl, master developer of Geos. “Often these builders are referring to . . . additional insulation, better windows and Energy Star appliances, but they aren’t reducing energy by very much,”

To achieve the net-zero goal, the homes at Geos will cost 10 percent to 15 percent more than traditional homes, he said.

Long-term savings

Even with higher prices, builders are aware of the need to remain competitive in the market. They tout the feel-good factor of reducing the carbon footprint and promote offsetting prices with money saved on utilities.

Klebl said consumers need to remember that the cost of a home goes beyond the mortgage payment to the costs of water, gas and electrical consumption.

“Geos homes will . . . save our owners enough in utility costs and tax savings on a monthly and annual basis to reach financial equilibrium with the costs of any comparably sized home,” he said.

William Guercio, director of development for Caribou Ridge Homes, a net-zero community to be be completed later this year in Nederland, predicted that “resale values of ‘green’ homes with renewable energy systems in place will yield over 30 percent more value than comparable standard-build homes.”

The cost to maintain energy-efficient equipment is said to be low because many things, such as solar panels have few moving parts to break.

“The life expectancy is typically 30 to 40 years on all equipment installed,” said Davide Picard, owner of Zero Energy LLC, builder for Caribou Ridge Homes. “You can expect very low maintenance.”

Marketing green homes has been something of a chicken-and-egg situation. Consumer interest drives demand to build.

At the same time, “the more of these homes there are on the market, the more interest there is in them,” said Greg Ochis, project developer of Horizon Uptown, Aurora’s first urban, mixed-use sustainable community. “People are beginning to realize that living a sustainable life is achievable.”

Kim Calomino, director of Built Green, a voluntary, statewide program created by the Home Builders Association of Metro Denver, said green builders are better-positioned in a competitive market where buyers are looking for the greatest value.

“Green building is no longer a trend but increasingly a part of the Colorado homebuilding culture,” Calomino said. “Its importance in the market will only continue to grow as consumer awareness, preference and rising utility costs drive demand.”

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For more information on Denver new homes, Denver home builders, and new homes Aurora, Colorado, visit our website Aurora new homes.

For more information on Denver new home, Stapleton new homes, Denver new construction, and Denver new home communities, visit our website Denver new homes for sale.

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Building ‘Green’ Reaches a New Level

by John Ritter | usatoday.com

PORTLAND, Ore. — Michelle Walsh looks out a wall of windows in her airy new condo high above the Willamette River. Across hills and forests loom snow-capped Mount Hood and, when it’s clear, Mount St. Helens. Below? Construction chaos all around. Walsh revels in it. She and her husband, Edward, proudly wear “urban pioneer” buttons the builder handed out to early move-ins at the nation’s first large-scale redevelopment to go 100% “green.”

Call it “eco-friendly.” Call it “sustainable.” Portland’s $2.2 billion South Waterfront project, rising on a decaying industrial site south of downtown, signals a watershed in the green building boom.

A trend that has taken hold across the USA in the past few years is evolving to a new level. What has been a patchwork of green buildings in many cities is expanding to whole communities, whole neighborhoods. Portland, well known as an urban-design innovator, particularly for its transit-oriented developments, is leading the way again.

The green ethic — energy-efficient, water-stingy buildings full of features that stress the natural over the chemical, the recycled over the new and the renewable over the finite — is firmly mainstream.

“The big developers, the people who build America, are slow to move,” says Charles Lockwood, an environmental and real estate consultant based in Southern California. “They still see a hint of tie-dye and wind chimes in green building. That’s changing quickly. There’s critical mass.”

Even in suburbia, home of large-production builders of single-family homes.

“There’s a lot more consumer interest. It’s starting to be a groundswell,” says Calli Schmidt, a spokeswoman for the National Association of Home Builders in Washington. A McGraw-Hill Construction survey in March predicted that green building would reach a “tipping point” next year and that two-thirds of builders would be building green homes.

Common features now found in green buildings include: non-toxic paint and finishes, wheatboard cabinetry, low-flow showerheads and toilets, wood floors of Brazilian cherry, Caribbean walnut and other plantation-grown varieties, high-efficiency heating and cooling systems, recycled and locally obtained building materials, rain and wastewater captured for toilets and landscaping, and panels that double as sunshades and solar power generators.

The Walshes went green house hunting after they sold a home in Arlington, Va., that they’d owned for 30 years and came to Oregon. They bought a condo knowing it was temporary until the Meriwether, twin South Waterfront high-rises, opened. Both towers sold out during construction, except three penthouses.

“Eco-friendly was very important to us,” says Michelle Walsh, 63. “We knew seven years ago this project was happening, and we watched it. We wanted this place.” The couple paid $790,000 for a 10th-floor, two-bedroom, three-bathroom unit with a den — plus those killer views.

Developers and builders aren’t joining the green revolution purely out of a sense that it’s the right thing to do. They can’t afford to be left behind. By year’s end, at least 6% of the nation’s non-residential construction, a $15 billion chunk of the industry, will be green, says Greg Kats, a green-building consultant in Washington, D.C. Six years ago it was less than 1%.

“If you’re not embracing green, you won’t be at the table,” says Homer Williams, one of South Waterfront’s developers. “We do a lot of public-private work around the country, and it’s the first question that comes up now.”

The federal government, 15 states and 46 cities require new public buildings to meet the U.S. Green Building Council’s LEED standards (Leadership in Energy and Environmental Design), which require non-toxic building materials, among other things.

Four states and 17 cities offer incentives for LEED-rated private buildings. Chicago, Pasadena, Calif., and other cities now fast-track permit procedures for builders who commit to green standards.

Raising the bar

Developers find that green technologies and construction materials add no more than 1%-2% to costs, a premium quickly recaptured by energy savings.

“Critics will say, ‘Why should we pay upfront for these things?’ ” says Ethan Seltzer, director of the Toulan School of Urban Studies at Portland State University. “They’d also liketo believe global warming doesn’t exist.”

Green building, he says, “is no longer confined to capital-intensive office towers. Green technology is to the point where these are valid questions for Home Depot shoppers.”

The Green Building Council has certified nearly 550 buildings across the country since 2002. Developers only recently have sought to stamp as green larger, multistructure projects such as South Waterfront. Same with single-family homes. The council is working on LEED versions for both.

Cities interested in LEED for large ventures include Pasadena, Milwaukee, Austin, Des Moines, Boise and Spokane, Wash.

Multibillion-dollar redevelopments on the Camden, N.J., waterfront and in New York City’s Meadowlands are going green. Seattle’s High Point neighborhood has the nation’s first green public-housing project, 600 apartments and town houses surrounded by green houses selling at market rates. At least 5,000 units of green low-income housing in 25 states have gone up in the past 18 months.

Corporate America was the first to see the value of green beyond energy savings.

Companies noticed less absenteeism, less time lost to asthma, allergies and other illnesses aggravated by mold, stale air and chemicals found in many conventional buildings. But to Ford, Bank of America, Target, Toyota, Honda, Genzyme, Starbucks and Adobe, green also was about image.

“In the 1980s it might have been acceptable to do a trophy building and say, ‘Oh, look at us, we’re green,’ ” says Rick Fedrizzi, president of the Green Building Council.

No more. “The products you make should be green,” he says. “The manufacturing process should be green. The factory should be green. Employees should work in a green building. You live this message all the way through and then someday you can call yourself a green company. Until then, it’s just green-washing.”

The city and developers are committed to top-to-bottom green at South Waterfront.

That means winning high LEED ratings on every building. It means streetcar and light-rail connections to downtown that cut auto travel. It means a mile-long, 150-foot-wide greenway between the Willamette and tall building clusters — not plain grass but restored natural habitat for birds and wildlife, bike and pedestrian paths included.

“It sets a much higher standard than what we’ve seen in many cities across North America,” says Bob Sallinger, urban conservation director at the Audubon Society of Portland.

Condo and office towers will have smaller footprints to preserve views of the river and downtown in the neighborhood behind South Waterfront. The skinny, or pencil, high-rise design was pioneered on the Vancouver, British Columbia, skyline, and San Francisco, Sacramento, Las Vegas and other cities are copying it.

“We can do a much more elegant building by making it feel very tall and very vertical,” architect Phillip Beyl says.

South Waterfront will be the densest neighborhood in Portland, already a transit-friendly city of small blocks and compact urban districts.

Developers calculate, for instance, that if condo owners in a 31-story, oval-shaped tower now going up were put in single-family homes, they’d consume 55 acres of land. South Waterfront’s first phase will house 3,000 people and provide 5,000 jobs on 38 acres.

Many South Waterfront streets will be narrow to invite walking and generously landscaped, with “bioswales” — grassy trenches that catch and absorb storm runoff.

“Eco-roofs” of soil and native plants slow runoff and curb the “heat island” effect of sunshine beating down on conventional roofs. The skin on most buildings will be glazed glass to maximize energy saving and interior light.

Finding value in ‘green’

South Waterfront’s anchor, an Oregon Health & Science University bioscience center opening in November, is the nation’s first large building to use chilled “beams” instead of conventional air conditioning. Picture a car radiator on its side on the ceiling. Chilled water passes through and cool air falls into the room, requiring no power to run fans or blowers.

The university aims for the top LEED rating — platinum — which would be another first.

Medical buildings that combine research labs, surgery and a lot of daily traffic to doctors’ offices aren’t easy to make green. The 16-story, $145 million building will produce a third of its electricity and treat its own water.

A two-story trombe — a narrow glazed-glass atrium that soaks up the sun — will make heat for the building’s hot water. Heat pumps that use water instead of chemical refrigerants are costlier than standard units, but quieter. Therefore, the builder could spend less on soundproofing insulation.

“Not only will they have bragging rights on the first and largest platinum building of its type, they’ll also get a very high-performance building that saves money over the long haul,” says Dennis Wilde, a partner in Gerding/Edlen, a principal developer at South Waterfront.

Cost premiums on green building have shrunk “but were never as significant as people were afraid,” Wilde says.

The university’s outgrown main campus atop Marquam Hill is 30 minutes by car for doctors traveling back and forth to the new facility. Williams suggested a tram to cut the ride to 3 minutes. It will open in December.

Criticism of South Waterfront has been muted. Developers took heat when tram costs ballooned to $57 million from $15 million, but they say pre-design estimates were unrealistic. Taxpayers’ share will be 15% of what some think is a landmark-to-be on a par with Seattle’s Space Needle.

Condos range from one-bedroom, 700-square-foot units for less than $200,000 to two- and three-bedroom spaces for up to $1 million and a few penthouses at $3 million-plus.

The buyer demographic is diverse — empty-nesters, single professionals, well-to-do retirees, young couples looking for urban starter homes and guys such as Venice Tunnitisupawong.

An analyst at Intel west of Portland, Tunnitisupawong, 28, wanted out of the suburbs, even if it meant a longer commute.

“I’m a single guy and that lifestyle doesn’t really fit me right now,” he says. He’ll move into a third-floor, one-bedroom when a third tower, the John Ross, is finished in May.

Early South Waterfront buyers have seen their condos spike in value already.

Miles Morgan, a United Airlines captain, bought a one-bedroom with an alcove for $404,000 in December 2004, when the Meriwether was nothing but a hole in the ground. He estimates it’s worth as much as $550,000 today.

“This is poised to be the premier neighborhood in Portland,”Morgan, 36, says. “It will appreciate faster than any property in Oregon or Washington.”

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To get additional information about Denver home builders, Denver new home, and Denver new homes, and new homes Aurora, Colorado, please visit our Aurora new homes informational site.

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Production NZE Home Unveiled in Denver

by Preston | jetsongreen.com

New Town Builders, the company that uses beetle-killed pine for their framing, opened this net-zero energy home with an announcement last January. The company is the first in the area to offer a zero-energy package as a regular, additional option. In other words, if a buyer wants it, the buyer can get a green home that generates as much energy as it uses over the course of a year for the right price — in this case, $26,900.

New Town Builders NZE Monitor. For more information about our green homes, please visit us at newtownbuilders.com.

This home, located at 8146 E. 35th Ave. in Denver, achieved a zero HERS score with solar panels, super insulation, and a proprietary double-stud wall. As you can see, the wall has a half-inch gap and 24 inches between the studs to reduce thermal bridging. External walls have a thin layer of spray foam and the rest of the cavity is filled with blown-in cellulose.

During construction, New Town Builders checked the ducts for tightness to ensure that air reaches its destination with 7% or less loss. Also, the home has a high efficiency HVAC system, energy efficient windows, Energy Star appliances, 100% CFL and LED lighting, a tankless water heater, and a continuous whole house energy recovery exhaust fan.

The model home is priced at $424,000, which includes a 9.9 kW solar array. Green elements add about $100 to the mortgage cost, says New Town Builders, but the extra cost is eaten up by $200 in net savings per month due to having having no energy bill.

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To get additional information about Denver home builders, Denver new home, and Denver new homes, and new homes Aurora, Colorado, please visit our Aurora new homes informational site.

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Stapleton’s Sustainability: Denver’s Green Neighborhood

by Caren Baginski | frontdoor.com

Stapleton’s sustainability is best evidenced by the actions of its residents. For example, four years ago, the developer, Forest City, planned a Founder’s Day celebration on the town green, but was concerned about adequate parking.

“We sent out info to all the residents about where they should park so that we didn’t push parking across the street to the other neighborhoods,” said Tom Gleason, vice president of public relations, Forest City Stapleton, Inc. “There were probably about 2,500 people there. At the height of our event, I went out to the parking zones and they were virtually empty.”

Denver’s newest neighborhood attracts active families who share a concern for the environment and the neighborhood’s design is a testament to that, said Tom. Stapleton operated as an airport for 66 years, owned and operated by the city and county of Denver. Thanks to community visionaries, the 7.5-acre site didn’t remain fenced off, but underwent a massive “greening” to prepare it for residential living when the airport closed in 1995.

By Federal law, the City of Denver was required to remediate all land before selling it at full market value to their chosen master developer, Cleveland-based Forest City. “They did an assessment to determine what had been left over after 60-plus years of an airport’s operation,” said Tom. Jet fuel, deicer, asbestos from old buildings and a groundwater plume of pollution that cut across the southwest corner (originating from the Lowry Air Force base a mile south) were all cleaned up before development began.

Then, the sustainability vision began.

Water conservation

Denver is in an arid region, and when the first homes were sold in Stapleton in 2001-2002, it was considered to be one of the most severe droughts in years in Colorado. The developers selected drought-resistant landscape that requires less water but it still very colorful. And, during land remediation, Westerly Creek, formerly a ditch covered by dirt, was transformed back into a nature preserve, and provides a valuable source of water for local wildlife.

Public transportation

In addition to sidewalks and close proximity to grocery and retail, the neighborhood is part of the Denver city street grid to allow for public transportation. According to FasTracks Regional Transportation District of Denver by 2015, the FasTracks East Corridor Light Rail expansion will open up a new location in Stapleton called the Central Park Station. From this station, the ride to the airport will be 20 minutes and to downtown, 15 minutes.

Recycling and composting

“Stapleton has the highest participation of any neighborhood in Denver for recycling,” said Tom. Plus, Denver is currently piloting a composting program in the city, allowing for both curbside composting and recycling. Smartly, Stapleton’s 6 million tons of concrete airport runways were recycled into “Staplestone,” an aggregate used to build roadways, bridges and bike paths, saving on costly mountain mining and eliminating the carbon footprint of transporting all that rock to the Stapleton site.

Building green

Stapleton requires that all builders meet the Built Green standards from the Home Builders Association of Metro Denver. These standards require Denver new homes to be 20 percent more efficient than current homes. Forest City works with builders to ensure homes are energy-star certified, including appliances, making the homes on average nearly 30 percent more efficient. One company, New Town Builders, is going beyond this efficiency and is currently in development with the National Renewable Energy Laboratory, in Golden, Colo., to design and build a net-zero home, to be unveiled in summer 2011.

New Town Builders provides solar energy systems standard on all new single-family homes. To get more information about our available new homes, please visit us at newtownbuilders.com.

Also, all commercial buildings are LEED certified, which has almost become standard, said Tom. Forest City works with retail businesses to help them choose eco-friendly materials for the inside of their spaces, as well.

Solar power

Stapleton homeowner Doug Roth was recently profiled in a Dec. 11, 2010 Denver Post article for his incredibly small energy bill: $40 for the year. How did he do it in his New Town Builders’ home? Solar panels on the roof.

“The greenest energy you’ll ever have is the energy you don’t use,” said Gene Myers, chairman of New Town Builders. Solar energy panels now come standard on the builder’s houses in Stapleton. The panels have no moving parts, are less obtrusive and can be monitored by a handheld device that gives homeowners an instant read on energy usage. A combination of Federal and local rebates and tax credits makes the average cost $8,000-10,000, said Myers — but when you’re selling power back to the energy company, that price tag suddenly has less sticker shock.

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How to Finance a New Home

By Bob Weinstein | FrontDoor.com

A lousy economy, rising unemployment and a dismal long-term outlook translate to ideal financing conditions for new-home buyers. A general malaise bordering on depression is wreaking havoc on consumer confidence, another factor fueling financing opportunities. New home median prices are hovering around $200,000, with prices down 13.5 percent from December 2007, according to the Department of Commerce.

The tentative real estate market amounts to an ideal window of opportunity for adventurous contrarians. A few favorable financing variables include tax credits, depressed prices and low interest rates. That’s not all. Builders from Vermont to San Diego are offering incredible incentives such as below-market rates of 4.25 percent.

Thinking about financing a new home? Here’s the lowdown from some of the country’s top real estate experts:

Don’t believe everything you read. That’s the word from Neil Garfinkel, a real estate and banking attorney with New York City law firm Abrams Garfinkel Margolis Bergson LLP. While economists and business analysts continue to paint a picture of doom and gloom, Garfinkel says the real estate market has turned around over the past few weeks, and he’s been very busy negotiating deals.

“Contrary to what the media is saying, things are happening in the real estate market,” he says. “People are buying new homes. I don’t know why that news isn’t getting out.”

Take the hint. “Don’t try and time the market and hang back and wait for an ideal buying opportunity,” Garfinkel advises. “That could be a big mistake because there may never be an ideal time. No expert knows what the real estate market will be like a week from now, no less six or 12 months ahead. If buyers are ready to buy, and everything is order — credit scores and finances are in good shape — they ought to shop around for deals.”

Do it right. A mortgage contingency is a must, Garfinkel insists. In this uncertain real estate market, buyers must have a mortgage contingency built into the contract, he says. “The lending marketplace has changed drastically over the past few years. It was assumed that once buyers got a contract, it was pretty certain that getting a mortgage was a slam dunk.”

Not anymore. Garfinkel’s advice: Don’t assume that getting a mortgage is easy. Securing a mortgage is more important than finding a property.

Know your financing options. Real estate financing expert Michael Sichenzia, president of Deerfield Beach, Florida’s Dynamic Consulting Enterprises LLC, says that there are a few excellent financing options, many of which are a result of a poor economy. Sichenzia, a former mortgage originator who sold mortgages to investors, did a four-year prison stint for mortgage fraud. When released, he turned over a new leaf and dedicated his life to correcting past wrongs and becoming a consumer watchdog, protecting naive homebuyers from predatory lending practices and unscrupulous mortgage brokers.

Sichenzia’s fast buck days are over. He works from dawn to sunset re-negotiating loans on behalf of homeowners and tries to get loan modifications that reduce buyers’ rates, extend terms and lower payments. His most challenging goal is helping homebuyers facing foreclosure find ways to salvage their homes.

Unlike mortage and financial experts who have hefty hourly fees, Sichenzia charges customers a one-time fee of $500 for his service, regardless of the time spent on each client’s case. Often several days are spent working out clients’ finances.

Although the residential housing market is in the proverbial toilet, Sichenzia says there are some excellent financial options for new-home buyers. His two favorites are FHA loans and home builder- and developer-sponsored financing. Here’s the lowdown on each:

FHA loans. The Federal Housing Administration (part of the Department of Housing and Urban Development) was established to help first-time buyers. The amount they can borrow ranges from $271,050 for single-family homes in low-cost areas to $729,750 in high-cost cities such as Los Angeles or New York.

Here are some of the benefits of an FHA loan.

  • Small down payment. FHA loans require only a 3 percent down payment to obtain financing.
  • Easy to qualify. Since the FHA insures the mortgage, lenders are more likely to give loans to borrowers with less than perfect credit histories. The FHA doesn’t use credit scores to determine eligibility or interest rates.
  • Lower cost. Because FHA loans are backed by the federal government, they’re more likely to be competitive or offer better rates than commercial lenders.
  • More security. In the face of a massive global financial crisis that brought down once-respected and established financial services institutions, the FHA, established in 1934, is not going away. If lenders encounter problems, the FHA offers options to avoid foreclosure.

However, the FHA is not giving away loans to potentially risky borrowers. It has clear, unbendable rules about borrowers with a history of bankruptcy and foreclosure. If borrowers have declared bankruptcy, two years must have passed from declaration, and they also must have re-established an acceptable credit record. And if a home was lost through foreclosure, they must wait three years and have a clean credit history during that period.

Each state has different FHA requirements. To learn more about FHA loans and banks offering them throughout the United States, contact the U.S. Department of Housing and Urban Development.

Home builder and developer sponsored financing. Home builders and developers are offering incredible buying opportunities — far beyond free appliances and country club memberships. They include enticing financing incentives, says Sichenzia. In fact, builders are going toe-to-toe with banks and mortgage companies.

“When you consider that half of the 60,000 builders in the U.S. will be out of business by the end of 2009,” adds Sichenzia, “it’s no wonder that they’re aggressively competing with lending institutions.”

Sichenzia advises talking to publicly traded builders because there’s less likelihood of running into snares.

When to take advantage of builder financing. Shop around and compare builder financing deals with what banks are offering, advises Sichenzia. Many builders are offering terms that are below market rates and less than what local banks are offering. “Many of the loans are in the 5 percent range,” he says. “And they’ve been that way for the past few months. They’re 30-year fixed rate loans, stable, conservative, and there’s little to no risk.”

This is very different from a few years ago. “Then, builders were offering adjustable rate loans, and eventually buyers were stuck with exotic loans that had to be financed,” Sichenzia explains.

Best-kept secret financing tips from the experts. According to Sichenzia, look for programs that will save you cold hard cash. Look for builder-financed products with a 5 percent to 5 1/2 percent rate; minimal down payment; and seller concessions in the form of buydowns. “Buyers can get this kind of a deal if they can prove verifiable, long-term employment and a good credit rating,” he says.

The National Association of Home Builders in Washington, D.C., reported that 75 percent of all builders and developers are offering incentives, many of which simplify financing and save buyers money in the bargain. They include:

  • First year of mortgage payments.
  • Limited opportunity to take advantage of up to 95 percent financing.
  • Deferred mortgage payments. However, this can be a mixed blessing because interest continues to accrue on the deferred payments and at the end of the grace period, the deferred amount will be added on to the balance of the mortgage.
  • Payment of closing costs. Buyers could potentially save thousands of dollars, depending on the cost of the house, location and type of mortgage.
  • Cash incentives. Many builders are paying homeowners’ insurance polices or taxes for up to a year.

According to David Reed, president of CD Reed Mortgage Bankers of Austin, Texas, and author of “Financing Your Condo, Co-Op or Townhouse,” guarantee or lock in a mortgage rate. Here’s why: By locking in an interest rate, buyers guarantee that the rate will be reserved for them when they close on the deal. If not locked in, they’re at the whim of market conditions and obligated to take whatever’s available. Reed adds that lenders take locks very seriously. If buyers lock in a rate with lenders, the lender reserves that rate for them.

To get more free information about mortgages and lending institutions, check out the following nonprofit organizations:

  • Neighborhood Assistance Corporation of America, a nonprofit community advocacy and homeownership organization.
  • NeighborWorks America, a national network of more than 240 community development and affordable housing organizations.

According to Tracey Rumsey, a mortgage loan officer in Bountiful, Utah, author of “Saving the Deal — How to Avoid Financing Fiascos and Other Real Estate Deal Killers” and a staff writer for MortgageCurrentcy.com, look into these often overlooked sources:

  • New construction tax credits. Not to be confused with the First Time Homebuyer $8,000 tax credit that was just enacted by the American Recovery and Reinvestment Act (ARRA) of 2009. These are state tax credits specifically for existing new-construction homebuyers. States are rolling these tax credit allocations out right now to move existing new construction inventory. California was the first to implement the tax credit and is offering up to $10,000. Many states are pounding out legislation offering similar incentives.
  • VA loans. Offers 100 percent financing. Veterans can score big by using their VA eligibility to buy a new home. With no down payment requirement and no monthly mortgage insurance, it’s hard to beat this option.
  • State housing agency loans. First-time homebuyers should always check out their state’s housing agency loan programs. Most states offer 100 percent to 103 percent financing, allowing buyers to finance their closing costs as well as the full purchase price of the home. Some states even waive the first-time buyer requirement when the home is purchased in a certain area.

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Stapleton: Overview of Denver’s Newest Neighborhood

by Caren Baginski | frontdoor.com

If it weren’t for the old airport control tower and a few building remnants of the past, no one would guess that Denver’s Stapleton neighborhood was the site of the city’s primary airport from 1929 to 1995. Now home to 11,000 residents, Stapleton, according to its newspaper, Front Porch, is one of the largest undeveloped parcels of land in the heart of a major U.S. city. In its ninth year of development, it’s setting a precedent for “new urbanism” in Denver and beyond.

Stapleton’s history

In its heyday as an airport, Frontier, Continental and United all operated major hubs out of Stapleton. When the airport closed it had six runways and five terminals. Those runways were painted with large yellow X’s to redirect planes from overhead to the new airport, Denver International Airport located 20 minutes east.

In 1990, five years before the airport closed, the Stapleton Redevelopment Foundation convened and began planning how to reuse the land. The group was started by Sam Gary, a Denver business community professional who is known for ushering the new concept of Stapleton’s 7.5 acres from planning to a city vote.

Residents and visionaries got creative with all that space. Removing garages from the front of homes, selecting 20 builders and having energy-star rated homes were some of the ideas that are now community staples. Most noticeable about the neighborhood is the variety of architecture — commercial and residential. “Each builder has to bring three different models to each block and can’t have the same one next to the other,” said Tom. And before anyone could move in, land remediation had to take place.

Stapleton’s vision

From its airport beginnings, Stapleton has been reimagined and redeveloped into a new type of community — one driven by its residents. Forest City, the master developer selected by the city of Denver to implement the development plan, coins the young, visionary community as a “Neo-Urban Lifestyle.” This means mixing the best of the urban with the best of the suburban: convenient, accessible and cultured along with safety, outdoor space and a clean, family community.

In practice, it means Stapleton’s the kind of place where neighbors come together to buy (not rent) a jumping castle for their kids — passing it around for block parties and birthdays, of which there are many due to nearly a quarter of the children under the age of five. It means 30 percent of the space would be reclaimed into open green space, parks and nature preserve. And, town centers with grocery stores, restaurants and retail would crop up next to apartments, single-family houses, income-qualified housing and row homes, making for a walkable, diverse community. Not to mention weekly summer movie nights on Founders Green, organized block parties, farmer’s markets and a myriad of seasonal events planned by Forest City.

Central Park Rows homes. For more information about this and other available new homes in Stapleton and Denver area, please visit us at newtownbuilders.com.

Who lives in Stapleton

According to a 2006 survey commissioned by Forest City, the average age in the neighborhood is 39. Sixty-seven percent are married and 43 percent of households have children under age 18. Some 21 percent do a significant amount of work at home, leading to a non-empty neighborhood during the day, which some residents such as Karen Painter-Jaquess, a part-time home worker, have noticed. “You pop out to pick up the mail and you see at least two other people,” she said.

Stapleton attracts — and caters to — active lifestyles with biking, hiking and swimming being top interests, according to the survey. Stapleton has four pools, a new Denver recreation center to open in January and bike paths that connect throughout the parks. Residents are not only active physically, but also in defining what they want their community to become.

“One of my greatest challenges is managing expectations of people so that they understand at the end of the day it is a Denver neighborhood,” said Tom, “It will have the same issues that any Denver neighborhood will have. Traffic for instance. Crime. We work closely with the police and have a very active population of people who pay attention to what’s going on in the neighborhood.”

The future of Stapleton

While the very first rental building was for senior living, one of the biggest challenges now is building schools fast enough to catch up to Stapleton’s under-five age bubble. But it looks like those who move to Stapleton are here to stay: Over 30 percent of Stapleton’s new home sales in 2009 came from existing Stapleton residents who, instead of moving out, decided simply to move up within their community, said Tom.

“We think that’s a good sign. They come here and they have the ability to move up to a larger home, for instance,” he said. “Stapleton homes appreciated on an average of 10 percent a year, until maybe the last year or two [due to the recession.]”

When the city’s development is complete, it is projected to have 12,000 Stapleton new homes and apartments, 8,000 homes for sale and 4,000 rentals, two walkable town centers and a major retail destination (and homes) in Northfield, north of interstate 70, which divides north and south Stapleton.

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