1-Color
May 8, 2014 Douglas County, Colorado | Volume 13, Issue 16 A publication of
lonetreevoice.net
Homes RISE go fast in area On the
Crews worked May 1 to finish work on a 50-foot tall Charles Schwab sign erected along southbound Interstate 25 between the Lincoln and RidgeGate exits. Plans call for the Lone Tree Schwab campus to open late this summer. Photo by Jane Reuter
Douglas County continues to come back strong for sellers By Ryan Boldrey
rboldrey@coloradocommunitymedia.com
Arts center moves up funding ladder Lone Tree facility expects higher ranking from SCFD By Jane Reuter
Ron and Jill Olds were hoping for the best when they put their Castle Rock home on the market this April. After being told by a real estate agent a few years back they couldn’t get a penny more than $179,000, they decided to wait for the market to come back. Earlier this year, they decided they were ready to find their retirement home out in the country, and their agent encouraged them to list their three-bedroom Founders Village home at $225,000. They were hoping going in that high, they could get somewhere around $217,000. They also hoped they wouldn’t be sitting on it too long as they were starting to see properties they liked and weren’t sure how long those homes would stay on the market in what has quickly become a seller’s market. The Olds didn’t realize how much of a seller’s market it truly has become. The first day their house was on the market, the couple headed out for the day as a steady parade of real estate agents brought eight potential buyers to the house in the morning and their agent saw another 20 prospective buyers during an afternoon open house. At day’s end, the Olds had four offers on their home, all above list price. The highest bid had an escalation clause built in agreeing to pay as much as $240,000. “I was shocked,” Ron Olds said. “I didn’t believe it. Things don’t work like that for me. “I’m the one that buys high and sells low. A couple of years ago houses were selling for around $150,000 here and we couldn’t move, we couldn’t do anything.” Highlands Ranch-based broker Sean Reilly said he has seen more and more of these types of situations recently. Having been on both sides of the phenomenon, Reilly has watched a house he’s listed pick up 11 offers in three days, and he’s also had clients who have missed out on homes despite offering more than $15,000 over list price. “It’s a great time to sell, but a challenge to buy right now,” Reilly said. “If it is priced right, it’s going to go quick. If it’s in the ballpark, you better make a strong offer or otherwise you are going to miss out.”
jreuter@coloradocommunitymedia.com The Lone Tree Arts Center is rising not just in popularity, but among the ranks of metro-area cultural venues. In June, the LTAC anticipates moving from Tier III to Tier II in the Scientific and Cultural Facilities District’s funding formula, a move that would include an influx of revenue. As a Tier III facility, LTAC received about $91,000 a year. In Tier 2, “we expect we’ll be getting between $120,000 and $180,000 a year,” LTAC executive director Lisa Rigsby Peterson said. The SCFD distributes money to more than 300 metro-area cultural and scientific organizations. The funds are collected through a one-tenth of 1 percent sales tax. The amount of money available from the
Housing continues on Page 12
DOUGLAS COUNTY HOUSING STATISTICS First Quarter of
2013
2014
• Average Sales Price
$383,169
$407,711
• Active Listings
1,451
1,159
• New Listings
1,868
1,830
69
54
• Avg. days on Market
The Lone Tree Arts Center is moving up among the ranks of metro-area cultural entities, a change that comes with additional funding. Photo by Jane Reuter district is divided into three tiers. Tier II facilities have to meet a minimum earned income threshold. With the change to Tier II, Lone Tree joins a list of facilities including the Arvada Center, City of Aurora, Colorado
Data provided by Metrolist
Symphony and Museum of Contemporary Art. “We’re going to be in good company,” Peterson said. “The cities that are part of Arts continues on Page 12
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