Real Estate

Gigi Sukin
May 27, 2022 - Business

Hot Home: The "Schomp Mansion," classic with modern luxury, for $2.9M

680 North Clarkson St. Photo: Nate Polta/milehimodern

Step away from the chaos and into this light, bright Capitol Hill home, nestled in a blissful landscape rich in Denver history.

Background: Architect and auto mogul, Ralph Schomp — of the Schomp Automotive Group — and his family, meticulously reimagined the layout of this property, paying tribute to its 19th-century heritage.

Denver lawmakers tackle HOA foreclosure practices

A woman stands with a bright sign that says STOP FORECLOSURES while a man stands in the foreground.
Michael Washington, right, protests against foreclosures in front of Green Valley Ranch HOA office in Denver on April 1. Photo: Hyoung Chang/MediaNews Group/The Denver Post via Getty Images

Homeowners associations in Denver could face a new batch of regulations in an attempt to limit predatory practices.

Why it matters: There are currently no rules in Denver requiring HOAs to notify owners about property foreclosures, leaving homeowners in peril of potentially losing their homes.

Gigi Sukin
May 20, 2022 - Business

Hot Homes: 5 listings starting at $619K

2657 S. Osceola St. Photo: Fortem Media/milehimodern

The country's red-hot housing market has started to simmer down this spring after roughly two years of sky-high prices and sparse inventories.

Why it matters: Hopeful homebuyers who've struggled to find reasonably priced houses should be able to look forward to more options and fewer bidding wars — if only just a little, Axios Joann Mueller writes.

Sami Sparber
May 18, 2022 - News

Locals need to make more money to buy a home

Illustration of a gold-plated house-for-sale sign.
Illustration: Brendan Lynch/Axios

Denver locals need to earn 38.7% more than a year ago to afford the region's median-value home, per the latest analysis by real estate company Redfin.

The big picture: The income necessary to pay for a home in metro Denver has soared as limited inventory and strong demand have driven up sale prices, and surging mortgage rates have made home loans more expensive.

Home tour: Step inside a contemporary Country Club Tudor

Photo: Emily Minton Redfield, courtesy of Andrea Schumacher Interiors

Denver designer Andrea Schumacher and her team gave this nearly century-old home a fresh look with splashes of color and patterns that pop.

The basics: The Country Club home has six bedrooms, seven bathrooms and one stunning speakeasy (more on that below).

3 more Denver neighborhoods get ADU rezoning

Denver's Community Planning and Development Department; Chart: Alayna Alvarez/Axios
Denver's Community Planning and Development Department; Chart: Alayna Alvarez/Axios

Barnum, Barnum West and Villa Park property owners will have an easier time building accessory dwelling units (ADUs) after the Denver City Council on Monday approved a rezoning request.

Why it matters: With both home prices and rents increasing, ADUs are one way people can find affordable housing in the city.

Gigi Sukin
May 6, 2022 - News

Hot Homes: 5 Mile High City listings starting under $600K

3025 Grove Street. Photo: Nate Polta/milehimodern
3025 Grove Street. Photo: Nate Polta/milehimodern

Spring is historically seen as the start of the residential sales season — traditionally the hottest time of the year to buy a home.

The big picture: After the pandemic spurred a serious housing market frenzy, there's no sense of normalcy in residential real estate these days.

Brianna Crane
May 6, 2022 - News

Surging mortgage rates make home buying more expensive in Denver

Data: Freddie Mac, Redfin; Chart: Simran Parwani/Axios
Data: Freddie Mac, Redfin; Chart: Simran Parwani/Axios

Mortgage rates surpassed 5% — their highest in more than a decade, according to data shared from Freddie Mac.

Why it matters: Low mortgage rates made home buying in a sellers' market more affordable throughout the pandemic.

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