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BrokerIPTV: Today we are talking with Fuller Towne &
Country realtor Tom Narvaez and Tom, thanks for being with us.
Tom Narvaez: No problem Dan.
BrokerIPTV: This is a fun segment for us. It is GenX GenY talking with younger people
in the business. One of the things I
want to start off with is where do you like to focus in town in Denver?
Tom Narvaez: Generally, really where I live which is University Park, Observatory Park
and where I work downtown LoDo. There is
a specific building across the street from us Larimer Place about 150-200 units that's
fantastic. So, I've sold probably four
or five places. I think it is
undervalued.
BrokerIPTV: What is happening in those specific areas Observatory Park, LoDo and so forth?
Tom Narvaez: Well, right now in Observatory
Park, University Park, there is just a plethora of
new construction "scrape"
homes and there just hasn't been a ton of activity. About a month ago, I took a look and there
wasn't anything under contract over the last two months. So, probably 30 to 40 new construction houses
mixed in with some resales and so, it is a lot of inventory right now. As far as Larimer Place goes, not a lot comes on
the market and generally gets sucked up fairly quickly depending on...
BrokerIPTV: Really?
Tom Narvaez: Yeah, depending on how... what kind of
condition they are in. So, it really is
a prime location. You don't get better
than that. It is right across from Writer Square and
right next to Larimer Square
and I think it is a great location.
BrokerIPTV: I read a newspaper column about more people
coming out of the suburbs and going back in the city. You know once upon a time it was just kind of
fashionable to live in the city, it was cool.
Tom Narvaez: Sure.
BrokerIPTV: Now, it is more of a necessity to live in the
city.
Tom Narvaez: Right.
BrokerIPTV: Are you finding more people attracted to
downtown?
Tom Narvaez: I am.
I am. I mean it seems like that
is definitely the way we are going with gas prices and just the younger
generation as they are making more money I think everybody is kind of coming
back into town. That is what I am seeing
from my perspective and where we are at.
BrokerIPTV: When they... when clients call you up, what do
they say that they are looking for?
Tom Narvaez: Generally, it really depends on the client
and where they are at and what they are doing.
I think that people that are moving up are going to see really a good
value right now because they may lose a bit in selling, but when they buy, they
are going to gain that plus some. So,
really depends what they look for.
Otherwise, a lot of people just holding tight and they are
investing. They are investing in those
lower priced properties and turning rentals into five to eight year deals,
rentals, and then going to flip them and hopefully double their money in that
timeframe.
BrokerIPTV: Hot areas, what is the hot area or areas?
Tom Narvaez: Man, again, I mean I am so focused on my
investors right now. North Aurora, the
old Old Town Aurora, northeast Denver, just below Stapleton and then probably
southwest to west Denver are where a lot of those deals are right now and those
are hot areas. I mean there is a lot
flying off the shelves right now in those areas.
BrokerIPTV: Tom thanks.
Appreciate it.
Tom Narvaez: [Voice Cross Over]
absolutely definitely....
Posted on October 03, 2008 06:59:55 by  Mark.Eibner
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