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Housing boom hits Denver
By Colleen Slevin
The Associated Press
DENVER— Newly transferred
network engineer Francis Bodie
figured he would stay in a friend’s
basement in suburban Denver for
a couple weeks until he found a
house.
He stayed three months.
Bodie, like many other house
hunters, learned to ferret out “for
sale” signs or to run from work to
inspect a house as soon as his Re
altor called. He also realized early
on that he needed a pre-approved
mortgage to stand out since sellers
often get more than their asking
price on the first day and some
times in cash.
“It’s kind of like a traffic jam,”
said Bodie of Denver’s booming
real estate market. “Everyone gets
backed up.”
The art of finding an apartment
or home has become a survival-of
the-quickest competition in met
ropolitan Denver, where a popu
lation boom has sent the housing
market spiraling.
House hunters resort to sending
out fliers to "sell” themselves to
sellers. They build networks of
friends and relatives who may
know someone who knows a
house for sale or rent. They drop
everything as soon as they learn of
a prospect.
“It becomes a foot race, and you
ask, ‘Am I going to collapse?”’ said
D.L. Buchanan, 45, a children’s
therapist.
After a decade of stagnation,
Denver’s economy boomed in the
’90s as companies were drawn by
affordable housing and laboi
costs. With the boom, came work
ers, lots of them.
In 1998, Colorado was among
the five fastest growing states,
posting a 2 percent increase in
population, the Census Bureau re
ported. The population is expect
ed to hit nearly 4.1 million by year
end, economists have said.
Denver was second only to San
Francisco in terms of rising infla
tion in the housing market in
1998. Housing prices climbed 4.5
percent last year, about twice the
national average, according to the
Bureau of Labor Statistics.
The average house in metro Den
ver cost $211,194 in July, up about
10 percent from July 1998, accord
ing to Perry and Butler Realty.
Low apartment vacancy rates
have led to waiting lists of people
willing to snatch up new units as
soon as they become available.
The average price of an apartment
in the six-county metro area was
$712.50 at the end of June, up from
$659.74 last year, according to the
Apartment Association of Metro
Denver statistics.
People moving to the state from
California and the Northeast, where
housing costs typically have been
higher, bring a lot of money to spend
with them, said Richard
Wobbekind, University of Col
orado’s director of business research.
As bigger, more expensive houses
are built, many people who already
live here have decided to buy a bet
ter house, increasing the competi
tion further, he said.
“This is a new phenomenon for
Colorado. That’s why there is a
shock going on,” Wobbekind said.
Economists believe the housing
boom will settle by year end, when
the construction industry is expect
ed to have caught up with demand.
As interest rates rise and the na
tional economy slows a bit, more
multi-unit buildings will be built
and fewer single-family houses
will go up, Wobbekind said.
In the meantime, the hunt has
become a frustrating and seeming
ly endless task for many would-be
homeowners.
Graphic designer Jeff Schaich,
34, of Boulder said he often found
several groups trying to inspect
townhouses for sale at the same
time. Often, a mess of Realtor call
ing cards littered tables in front
hallways.
“Talk about feeling the pres
sure,” said Schaich, who had sev
en bids rejected before he was able
to buy a townhouse.
Rich Gribbon of Re-Max Boulder
said buyers often have just a few
minutes to decide whether to sub
mit a bid. “You don’t even remem
ber the color of the carpet,” he said.
Some buyers are taking the risky
move of giving up their right to
walk away if an inspector finds
problems, Gribbon said.
Cherri and Dale Norton added a
personal touch to land the house
they wanted in Highlands Ranch.
They hand-wrote a letter to the
owners, explaining that their teen
age sons would love the basement
and that they thought their oak
furniture would blend perfectly
with the interior.
Susan Joslyn, a Century 21 Pro
fessionals Inc. agent, has handed
out fliers about families who want
to buy houses in a certain neigh
borhood. When there are no hous
es for sale, she said agents go door
to-door to see if homeowners have
thought about selling.
“We tell buyers you have to be
diligent, you can’t be casual about
it,” Ms. Joslyn said. “You have to
treat it almost like a job.”
Man sentenced in talk-show slaying
By Jim Irwin
The Associated Press
PONTIAC, Mich.—A man who
fatally shot a gay acquaintance
who revealed a crush on him dur
ing a taping of “The Jenny Jones
Show” was sentenced Tuesday to
25 to 50 years in prison.
Jonathan Schmitz trembled as
Oakland County Circuit Court
Judge Wendy Potts sentenced him
for the 1995 shotgun slaying of
Scott Amedure.
“The sentence of this court will
rob you of your youth, but it will
not rob you of your life,” Potts told
Schmitz.
Schmitz, 28, apologized to the
Amedure family and said, “I’d like
to ask God for forgiveness.”
Schmitz received the same sen
tence in 1996, but it was based on a
conviction that later was overturned
on appeal. Schmitz remained in
prison while he was tried and con
victed of murder again.
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Amedure’s weeping mother
asked the judge to give Schmitz a
long prison term.
“When will we be able to get on
with our lives? When will justice be
served and be final?’ ’ Patricia Graves
said, her voice cracking. Ameduxe’s
father, Frank Amedure Sr., also
wept as he spoke, telling the judge,
“I’ll never see my son’s smile again.”
Defense attorney Jerome Sabbota
asked for no more than 15 years in
prison. He said he would also ap
peal this conviction, arguing that ju
rors should have been allowed to
hear evidence about Schmitz’s sui
cidal behavior and alcoholism.
Schmitz was convicted Aug. 26 of
second-degree murder in the shot
gun death of Amedure, who had ap
peared with him on a March 1995
taping of the talk show.
During the episode, titled
“Same-Sex Secret Crushes,” Ame
dure revealed his crush on
Schmitz, along with a sexual fan
tasy. During the taping, Schmitz
said he was heterosexual.
Schmitz killed Amedure three
days later in the victim’s home.
In April, jurors in a wrongful
death case against Warner Bros.,
the corporate parent of “The Jen
ny Jones Show,” awarded Ame
dure’s family $25 million. That
verdict is being appealed.
Jones and the producers of the
show were not called to testify at
Schmitz’s second trial, as they had
been in the first criminal trial and
the civil trial.
In the first criminal trial, Schmitz’s
lawyers argued that mental illness
and the ambush tactics of the Jones
show pushed him into a rage that led
to the killing. For the second one, a
different set of lawyers, barred from
using a mental defense, attempted to
shift the blame to Amedure, saying
he stalked Schmitz.