With the limping economy dogging most of the US, home values had been driven down in most communities, resulting in a loss of homeowner equity. That spells bad news for a lot of Americans, especially those who bought at the top of the market, and are finding themselves motivated to sell now. That also sounds the start of a different story for a new kind of home buyer, a new segment of real estate players who may find themselves presented with an interesting opportunity--the flip side of crisis. It's described by crossing the price point gap, and entering the next higher tier of the market right in your own neighborhood, without risking as much as would have been traditionally required. You could also call it hyperlocal buying.

If you live in a neighborhood of a few different price points, like most of us do, you'll find yourself with a hotbed of hyperlocal buying opportunities. Let's say the average asking price in 2009 of the homes in the high-priced zone is $1M; the homes in the middle zone are at 500; the homes in the lowest-priced zone are in the 300s. Knowing that homes in the sub-350 market are still selling relatively well in Denver, for example, at closer to asking price than higher end properties, sub-350 home owners can put their properties on the market and stretch their closing times. Knowing that homes above 500 are struggling more, they can make an offer on that next-level home a few streets over at a more lateral price, with vertical benefits in square footage that the new buyer is likely to capitalize on later. Because the neighborhood is familiar, there’s none of the pain or expense that accompanies a crosstown or cross-country relocation.

Whatever the numbers are–selling into the 200 market and buying into the 400 one, for example–hyperlocal buying is a new take on the old concept of upward mobility, at a deep discount. It’s selling on one side of the chasm, and buying into the other, without spending the same amount it would have cost you five years ago. To learn more about making sense of taking advantage of today's conditions and market, make sure that you vet your real estate specialist carefully, and that he or she is an expert in the neighborhood and community in which you're interested.

Real estate markets are always bottom-up markets. Which means? For a real estate market to sustain itself and flourish, the bottom of the market, that being the less expensive properties, must sell in a timely manner. When the bottom of the real estate market suffers, the entire market is negatively impacted.

The government’s $8,000 tax credit is designed to serve two purposes: (1) provide first-time home buyers an incentive to buy now, and (2) stimulate the housing market by getting entry level homes sold so current homeowners could “move-up” to more expensive properties. The result being that life would be breathed back into the overall housing market.

There were some hurdles to overcome to this seemingly perfect plan. First, with the economy limping along, home values had been driven down in most geographic areas around the country, resulting in a loss of homeowner equity. A home seller considering buying-up now had less cash in their current home to buy-up with. Second, almost overnight the home mortgage industry went from loaning money to anyone with a pulse to being over selective as to whom they would bless with their sacred funds. Finally, the uncertainty of the job market and the high unemployment rate has led to many potential move-up buyers deciding to rent rather than buy. This has resulted in the more expensive homes being forced under the boot of foreclosure or short sale, or they have become rental havens for those individuals choosing not to buy now or not having the ability to buy now.

If you've ever wondered if a neighborhood was right for you and your family before committing to it by buying a home, you've probably done a fair amount of research. You've looked into the school district, the taxes, the water and energy bill averages. You've surveyed the streets by driving by, taking note of the landscaping, the care with which your prospective neighbors take with their properties...

Read More »

If you've looked at real estate listings online this year, you may have noticed one more measurement characterizing homes and neighborhoods. It's a number from 0 to 100 called Walk Score. The way it works, according to the Web site, is simple: "Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc. Walk Score measures...

Speaking with home buyers across the nation, the quality of schools in their communities is always a concern raised by parents, and even home buyers without children. It's true that a solid school district is a win for families with school-aged children, but the same solid school district can also be found to relate to solid home prices and market interest.

Downtown, LoHi, Highland, LoDo: Relocating to Colorado must sound like Morse code to the newcomer. Before you drill down to specific neighborhoods, of which there are many, try getting a macro view of Denver's real estate market first...

Read More »

Denver real estate isn't just about the places; it's also about the people and the things that go with them. Now that the snows melted, thoughts are turning away from that face plant you took at Copper Mountain, and toward what will happen to the bulbs you planted in your garden. (Darned deer!) Salting the walks has given way to salting the margaritas. Can you hear the siren song...

Read More »

Near Cranmer Park, where the dog-walkers, strollers and pee-wee soccer leagues roam, and over near Graland Country Day School, founded in 1924, is one of Denver's most regaled historic neighborhoods: Hilltop.

Often mixed in with other neighborhoods for its proximity to Crestmoor, Mayfair, Cherry Creek, Bellvue, Belcaro, and Montclair, Hilltop is in the...

Read More »

From West 6th Avenue to Alameda Avenue and from Federal Boulevard to Sheridan Boulevard lies a little Denver neighborhood with a big history. In 1882, P.T. Barnum — yes, THE P.T. Barnum — purchased 760 acres of Denver dirt as a winter hiatus hot spot. While he was at it, it's been said that Barnum took the liberty of naming many...

Read More »