Homes For Sale in the Observatory Park Denver Neighborhood

First time home buyers have many benefits at their disposal when buying a home in Observatory Park in Denver. Take advantage of every opportunity you can when making the switch from renting to homeownership.

1. Save, save, and save: When purchasing a home, you will need to have more in your savings aside from your down payment. You may have to pay for an appraisal of the home as well as the inspection. Next, you will also need to pay property taxes. Typically this amount is a percentage of your home’s value. You can learn more about property taxes and calculating for homes you are looking into on HGTV’s website. Last, check to see if the home is in an area with a homeowners association. If that is the case, you will have an additional fee. With the homeowners association, you will receive various benefits from community centers and parks to swimming pools and common area maintenance.  You will also need homeowners insurance and savings for any repairs that need made.
2. Credit and Debt-to Income: When preparing to buy your first home in Observatory Park, avoid making large purchases such as a car or items on credit. Why? These large purchases affect your debt-to-income ratio, which can affect how much money your mortgage company will consider to lend to you, or may change any of your stipulations. In general, having a good credit rating helps your chances of getting a mortgage, but it isn’t all based on that. Make an effort to have good active credit and improve your score with these tips from Experian.
3. FHA Loans: When buying your first home, you may qualify for an FHA (Federal Housing Administration) loan. These mortgages have the ability for lower down payment percentages as low as 3.5 percent. This element depends on your credit score and history. FHA loans also lower or cover closing costs, and they are more open to your credit situation. When you purchase a home with an FHA loan, you will need to also get mortgage insurance in case you begin to miss payments. Last, if you need to make improvements to a home but are low on funds, an FHA loan may loan you additional money for those. This is part of an additional loan, called a 203k loan. This may give you $30,000 or more for repairs.
4. Make an Educated Purchase: When it comes to purchasing your first home, make sure you have thought ahead. Is the home something you can grow into based on your goals? At the same time, is it too big and will have wasted space which will be wasted money each month on heating, cooling and electricity? Also, do the area and neighborhood fit your lifestyle? What about curb appeal for the home and the neighbors? Consider this before making a purchase, as poor curb appeal throughout the neighborhood could make re-selling the home more difficult.

When it comes to purchasing your first home, let Elevation Realty help! We will provide you with the attention and dedication you deserve and are readily available to you throughout the home buying process. Give us a call at 303-579-3566 and review our Observatory Park listings.

Denver is replete with neighborhoods that provide appealing features, ideal locations, and exceptional school systems. However, many people are selecting Observatory Park as the best neighborhood to own a home and raise a family. If you are interested in purchasing a home, it would help to understand the many beneficial features that accompany the real estate market in the Observatory Park Denver neighborhood.     

• Location: Observatory Park is an especially premier neighborhood because of the appealing location of the homes The massive and gorgeous park that resides in the center of the neighborhood attracts large crowds who gather on sunny days to socialize, have picnics, or play activities such as volleyball or tennis. As the name indicates, the park also features the Chamberlain Observatory, which is a historic telescope observatory operated by the University of Denver. The observatory is still active, DU students use the telescopes to survey the starry skies, and many special events also allow local residents to utilize the telescopes. Additionally, the neighborhood is also an ideal location due to the abundance of commercial features in the area. The areas surrounding the park offer numerous stores, bars, and restaurants that should satisfy you and your family.  

• Schools: The high-quality schools in the area are also appealing for many residents. The Observatory Park Denver neighborhood is within walking distance to the University of Denver. You can walk to the campus to attend school or to just enjoy the abundance of collegiate sports competitions, entertainment events, and public recreational facilities offered by the school. Observatory Park is also an optimal location because of the top public elementary school system that your children can attend. The University Park Elementary School provides an excellent school curriculum, superior teachers, and a diverse student population. As a result, the school was named by 5280 Magazine as one of the best public elementary schools in Denver, and the Denver Post recognized the school as the healthiest public school in the city.  

• Market Trend: The positive Observatory Park market trend is another reason people are scrambling to own real estate in the neighborhood. The Victorian-style homes in the area boast a spacious comfort, a vintage elegance, and a luxurious splendor. The diverse price ranges of the different homes can enable you to find a range that is most appropriate for your budgetary and housing needs. For instance, prices can range from approximately $300,000 to just over $1 million. However, the market trend for almost all houses has been substantially increasing in the recent years. Since 2014 the average price of homes in Observatory Park has appreciated by more than 13 percent in value, which is a significantly higher appreciation rate than many other Denver neighborhoods. In turn, purchasing a home in Observatory Park provides you with an ideal piece of real estate that is projected to consistently increase in value over the years.  

    Contact Elevation Realty to have our experts help you find the perfect home. We have access to the best homes in the Observatory Park neighborhood, we can show you properties that are conducive for your budgetary and housing desires, and our staff can ensure that you find an exceptional home that maximizes the quality of life for you and your family.

When selling your home, you want to make sure it shows well to potential buyers. This often means making a few key updates. However, those updates do not need to break the bank, as illustrated by these 25 quick, cheap and easy home sale tips. Below are the five best ways to increase the value of your Observatory Park home without investing a large amount of money.
 
New Coat of Paint
 
Generally one of the easiest and least expensive updates, a fresh coat of paint can do wonders for a room. However, do not feel like you have to paint the whole house. Go through each room in your home and determine if the walls simply need a good scrub or if new paint is required. When choosing paint colors, stick with neutrals like greys and beiges. These colors tend to be appealing to the majority of people and will likely go with most of your decor. It is also smart to consider painting any brightly colored rooms as those tend to be off-putting or unappealing to potential buyers.
 
Improve Your Flooring
 
It is not generally suggested that you replace flooring in your home right before you sell since it is likely the new homeowners will want to choose their own flooring anyway. However, a deep cleaning can go a long way to sprucing up the appearance of your existing carpets. You could even opt for a few inexpensive area rugs to make the space feel fresh.
 
Kitchen Improvements
 
They say kitchens sell houses. It may seem overly expensive to update your kitchen before putting your home on the market, but a few key updates can make all the difference. Start by updating the faucet set, cabinet hardware, and light fixtures. A fresh coat of paint is a great way to update and refresh existing cabinets. You could even go so far as to replace the cabinet doors and door fronts or remove them to make it feel more open. If your appliances are outdated or mismatched, replacing them with new matching models might be a smart option. You want to make sure your kitchen is as inviting and appealing as possible since this room can be the deciding factor for many homebuyers.
 
Bathroom Updates
 
Second only to the kitchen, the bathroom is another important room to update. Luckily, you do not need to spend much to make a big impact in this small space. A new toilet seat and pedestal sink can make a bathroom feel new again. If your flooring needs replacing, consider using vinyl tiles that are easy to install. If your tub and shower have seen better days, it might be time to either re-grout or simply opt for a prefabricated tub and shower surround. These options are considerably less expensive than refinishing a tub or replacing tile. New fixtures make a big difference in the bathroom, as well. And make sure the lighting in the bathroom is nice and bright for the best experience.
 
Enhance Curb Appeal
 
When selling your home, it needs to make a great first impression. Most yard maintenance will not cost you anything. Be sure to keep the lawn mowed, the shrubs and trees trimmed, the flower beds weeded, and all walkways cleared. If you want to make additional improvements, add a new mailbox, porch light, new door hardware, and some potted flowers to create a truly inviting appearance.
 
With simple updates like these your Observatory Park house will be ready to sell in no time. If you’d like a home evaluation, fill out this form to get a better idea of the value of your home.
 

Observatory Park (or University Park) is situated in southeast Denver south of Evans between University Blvd and Colorado, just north of Yale Ave. It is comprised of primarily single-family homes ranging from ranch homes to modern Victorian-inspired properties making it a desirable neighborhood for those wishing to live in a calm environment or raise a family. In addition to housing some of the best real estate on the market, Observatory Park has several attractions and restaurants that make the neighborhood one of Denver’s best-kept secrets.

Observatory Park

The most notable neighborhood amenity is Observatory Park itself. Enjoy pick up games of kickball or basketball, savor a picnic on the grass, or take the little ones to the playground that has a solid supply of donated toys. There’s something for everyone here. The added bonus is that the Chamberlin Observatory is housed here and open to the public. It is generally open Tuesday and Thursday evenings and select Saturdays when the moon is at quarter phase. Go inside and check out the large telescope or bring your own to join the dozens of people who regularly go star gazing at the park. Keep up to date and make a plan by viewing the Chamberlin Observatory’s current schedule.

Newman Center for the Performing Arts

The Newman Center for the Performing arts aims to provide high-quality performing arts experiences for University of Denver students and the Colorado community alike. There is something for every lover of the arts here ranging from student opera performances to presenting a number of concerts with some of the world’s most prestigious performers. Chick Corea & Bela Fleck, Jane Monheit, Ladysmith Black Mambazo, and the Russian National Orchestra are just a small handful of performers who have graced the Newman Center Stage. You can view the 2015-2016 schedule and make plans for the future.

Breweries

It’s old news that Colorado is chock-full of some of the best craft beer in the nation. We’ve all heard of New Belgium and its humble beginnings in Fort Collins rising to national recognition, but did you know Observatory Park is home to two incredible local microbreweries? Fermaentra opened in November 2014 and is dedicated to brewing beers “rooted in traditional style, yet amplified to embody the evolution in American craft beer.” They specialize in ales and lagers and always have a rotating tap list that stays up-to-date online. For those wishing to enjoy food with their beverages fear not—they have a rotating cast of some of Denver’s best foods trucks that are also updated weekly so you can plan on enjoying some of your favorite beer and cuisine in tandem.

Bull & Bush has become a Denver staple - currently celebrating its 44th year of business. They opened their doors in 1971 after twin brothers Dean and Dale Peterson cast aside their stockbroker careers to open a brewpub modeled after the original Bull & Bush located in Hampstead Heath, England. It’s homey feel will have patrons enjoying games of darts, sipping on their craft brews ranging from grapefruit pale ale to dunkelweiss and occasionally rounding off their evenings with events like Saturday Night Movies and Sunday Night Jazz.

Jerusalem Restaurant

You probably dismiss any restaurant open until 4 a.m. as a carb-loaded college joint, but Jerusalem is different. Sure, it’s located in the heart of the DU campus and does have lots of college students who frequent it for everything from late night study sessions to post-bar eats, but this place has a long-standing reputation for being one of Denver’s finest, winning the honors of Westword’s best middle eastern restaurant receiving nods from Zagat, and a laundry list of other accolades.  Enjoy one of their signature gyro sandwiches coupled with a cup of potent Arabic coffee and finish your meal with some of their delightful house-made baklava.

Contact Elevation Realty to learn more about the neighborhood and to browse homes for sale in Observatory Park, Denver.