Funny how everyone thinks that the Denver real estate market is in the tank.  I've had several clients relocate to the area recently, and their impression of pricing is that the 20% discount is a possibility given the meteoric rise in real estate prices over the last several years.  This kind of flawed thinking just goes to reinforce that all real estate is local.  

The fact of the matter is that the Denver and even the Boulder real estate markets never saw the huge double-digit gains in real estate appreciation over the past several years that places like Florida and California have seen.  The result is that list pricing is pretty accurate for the most part.  It's fairly common to see about 3%-4% difference between list and sold prices.   

There are still many neighborhoods (including Louisville) and Metro area cities that remain very strong.  We've been involved in several competing offers recently.  Yes, that still happens.

While we may not have the best real estate market in the country, we certainly aren't in the tank.  Foreclosures continue to rise, and they'll continue to place downward pressure on homes in many neighborhoods.  That said, we're seeing an increase in the number of buyers who are simply looking for a place to live...not the quick-flippers.  And this market seems to reward conservative buyers looking for mid to long-term purchases. 

The ever-popular Table Mesa neighborhood continues to thrive in this difficult market.  With open space, trail systems, and park-and-ride to Denver just steps away, Table Mesa remains popular for all the right reasons.

Take a look at 3310 Emerson Ave presented by Re/Max of Boulder.  Four beds and two baths and 2700 square feet for $699,000.  Give us a call at 303-415-2541 if you'd like to schedule a private tour of this hot new piece of Boulder real estate.

And remember, Real-a-Save offers our buyer clients 2/3rds of our commission in the form of a cash rebate.  On this particular home your rebate would be approximately $12,000.00.  See our Buyers Program page for more information.

And if you'd like some more Boulder neighborhood information, then just take a look at our neighborhood pages.  They're packed with useful information. 

If you're looking for a terrific piece of Denver real estate in move-in condition, then you must check out 1380 S Eaton Ct.  Priced at $235,000, this remodeled home has 3 bedrooms and 2 bathrooms.  It also boasts a finished basement with a 4th non-conforming bedroom, workout area, and entertainment area.  The backyard is huge, and the home features 2 covered patios.

Give us a call at 303-415-2541 if you'd like to schedule a private home tour.  And remember, Real-a-Save rebates a large portion of our commission to our buyer clients.  On this particular home your cash rebate would be approximately $3,500.00.

You can also check out Denver neighborhood information on our neighborhood pages.  We've put together a great resource for buyers who are looking for some local insight into various popular Denver neighborhoods and Metro Denver cities and towns.

The Denver real estate market has something for everyone.  Highlands Ranch remains a very popular destination even in this difficult market.  We've created a wonderful resource to help our clients research this area- our Neighborhood Pages.  Check out some interesting Highlands Ranch information here.

Also, take a look at one of our newest listings in Highlands Ranch.  10632 Baneberry Street has an incredible location backing to open space, and offers Front Range views along with ample room for your large family.  With 4 bedrooms and 3 bathrooms, you'll have plenty of room to stretch out.  The home also boasts mountain views, an open floor plan, and lots of light.  Energy efficiency features include Low-E glass and R-rated blinds, and the current owners boast of very low utility bills in both winter and summer.

Give us a call at 303-415-2541 if you'd like to schedule a private tour.

And remember, Real-a-Save offers commission rebates to all of our buyers.  On this particular home the rebate to our buyer would be approximately $8,000.00.  See our Buyer Program pages for more information. 

We're seeing many more Denver real estate shoppers using FHA programs as opposed to the ridiculous sub-prime deals.

It's also the VERY rare deal that sees 100% financing or the dreaded "Stated Income" programs that were so popular over the last 5 years.  I won't miss these programs at all.  The stated income programs have their place- I have many clients who work as consultants and so have "spotty", though lucrative employment histories.  These programs were perfect for such folks.  But the stated income programs were also abused by lenders and borrowers alike.  

Even though FHA requires more paperwork, they are a great alternative to the recent programs which brought the lending industry to it's knees.

The problem with most real estate search engines is that you have to search by zip codes, cities, or VERY LARGE areas.  Sometimes you may have a very specific area that you'd like to search.  Wouldn't it be wonderful to be able to limit your Denver real estate search to an area on a map by drawing your own boundaries?  You could create your own "perfect neighborhood" and limit your search to this region.  Even better, you'd be notified by email whenever a new home came on the market in this neighborhood of your creation.

Our new Polygon Search is almost ready for launch.  And it will allow our users to draw a shape on our Google Map and limit their home search to this very specific "neighborhood".  Pretty cool, right?  

We've had so many requests from people searching the Denver and Boulder regions for this type of feature that we just had to do something about it.  I'm proud to say that this feature is now in its testing phase and will be ready for launch shortly.

Thanks for your feedback!  

Note to all short sale agents: honesty is the best policy.  The Denver real estate market continues to be a hotspot for short sales.  The main problem here is that there is sometimes a complete lack of communication between lenders and listing agents.  Even to the point where listing agents DO NOT consult the lenders on price changes, or even the initial list price.  This makes for some horrible waiting for potential buyers, followed by massive disappointment when the offer is turned down by the lender.  

That's right. Even full price offers have been turned down by lenders because the listing agents did not share their pricing strategy with the lender.  Seems odd, doesn't it?

What's even worse is the dreaded BPO.  Banks will pay random agents fifty bucks to do a BPO- broker pricing opinion.  They get a couple of these (from brokers who may or may not have ANY experience, and who are not listing the property) and this helps the bank justify pricing.  Incredible.  The banks once again are creating a mess for themselves.  

Sometimes you have to take what you read and watch in the news with a grain of salt.  Then there are times like these, and news like the foreclosure rate in the Denver real estate market.

I've been reading about this trend for months and months, just like everyone else.  And I've seen evidence that there are still pockets of real strength in this market.  Ever-popular places like Wash Park and Highlands may weather this storm pretty well.  Places like Boulder and Louisville and Golden still seem pretty strong.  

But I had to take a moment when I realized that 75% of our pending contracts are on short sale and foreclosure properties.

It's sad to say that the market will likely get much worse before it gets better.  No new news here, just the continuing realization that we are seeing something extraordinary in this real estate market.

I love investing in the stock market.  I got started managing our families investments years ago when I looked at the fees we were being charged by the large firm who was managing our portfolio, as well as the rate of return we were getting.  That was enough to make me dedicate several hours a week to managing our own portfolio.  I'm doing a much better job that the "professional" who was managing our money, and I've grown to love the research and patience it takes to make money in the stock market.

One of the first lessons you learn is to divorce yourself from emotional selling and buying.  Put it this way: if you see it on CNBC then it's too late.  If they're reporting a down day in the market and you or your broker sold stock that day then you're just one of the lemmings.  Emotional down markets are simply like the flashing blue light at KMart: sale time for smart investors.

Can the same be said for real estate markets?  I've seen some recent evidence of this in the Denver real estate market.  It will take years for me to understand if some of the investors I've seen scooping up properties (using cash much of the time) are ahead of the game, or unwise.  I tend to think they're ahead of the curve...mostly for obvious reasons like: if you're using cash to buy properties (plural) then you likely have a good head for investing.  

It will be interesting to watch how this unfolds. 

So many of my clients discover Arvada only after focusing on other popular neighborhoods and towns. It's funny, but a handful of clients over the last year discovered Arvada almost entirely by accident while searching the Denver real estate market.

The same thing tends to happen to new residents of this lovely town: they become Arvada enthusiasts.  Total converts.  The seem almost shocked that they didn't know about the town before they started their search.

If you take the time to stroll historic downtown Arvada, or to drive the winding roads snaking through open space and eclectic housing choices, then it's really easy to see what the residents love about this place.  It's the perfect combination of prime location (very near Denver), abundant variety of housing (your home will NOT look like your neighbor's home), and a wonderful small-town feel.

Take a look at the incredible variety of homes currently listed on the MLS in Arvada.  You're sure to find something unique, and to your liking.  And remember, Real-a-Save rebates an average of $7,000.00 to each of our clients when they use us to purchase a home.