The following data covers the past 3 months (7/28/09-10/28/09). There has been quite a bit of activity in the neighborhood lately. Nine homes are currently under contract, which leaves only seven currently on the market. It might now be a bad time to list your home if you have been considering it.
Sold Greenfield Homes Stats :
9 homes sold (3 in each month)
Average Days on Market: 90
Average Net Sold Price: $342,558
Average Net Sold Price Per Square Ft: $124
Highest Sale Price: $395,000
Lowest Sale Price: $302,500
Net sold price/original asking price: 97.5%
Sold Greenfield Homes By Address:
Date
Address
Sold Price*
Fin. Sq. Ft.
Days on Market
10-9-09
6505 S. Killarney Ct
$300,000
2,695
155
10-8-09
20683 E. Fair Ln
$308,523
2,538
24
10-8-09
6697 S. Killarney Ct
$359,000
3,122
216
9-25-09
6224 S. Jericho Ct
$304,000
3,154
17
9-24-09
20511 E. Weaver Ave
$359,000
2,989
169
9-15-09
5906 S. Jebel Ct.
$395,000
4,870
12
8-26-09
6496 S. Jericho Way
$380,000
3,517
16
8-21-09
20557 E. Caley Pl
$302,500
2,648
27
8-3-09
20499 E. Weaver Ave
$365,000
2,997
178
*after any concessions by seller, such as down payment or closing cost assistance
Current Greenfield Homes For Sale:
7 homes on market
Given recent sales pace, this is only a 2.3 month supply
Average Total Days on Market: 172
Average List Price: $292,043
Average List Price Per Square Ft: $128
Highest List Price: $336,500
Lowest List Price: $230,000
Pending (Under Contract) Sales:
9 homes under contract
Average Total Days on Market: 92
Average List Price: $355,767
Average List Price Per Square Ft: $120
Highest List Price: $405,000
Lowest List Price: $290,000
Looking to sell your Greenfield home? Contact The Bibeau Group, your Greenfield real estate experts, for more information on how WE can help!
If you have a business Page on Facebook, you may know that when you reach 100 ‘Fans’ you are then able to choose a ‘username’ for your page. A username comes in quite handy because it allows you to have a direct URL to your Facebook page that is easy to remember and publicize…..and isn’t a bazillion characters long!
For example, before we reached 100 fans, the URL to our Facebook page was:
I’m sure there are better ways to get 100 people to follow you, but this is what we did. We started by just putting a link on our website and mentioning it in our monthly letter to our sphere of influence.
When that didn’t bring too many Fans, we stepped it up a notch. Here’s what we did in the past couple of weeks:
Invited our existing Facebook friends* (there are two of us on our team, and we each have 100+ friends on our personal pages)
Invited our database of referral realtors in other states
Invited our farm neighborhood contacts
Sent an email to our sphere of influence with a link to ‘Become a Fan’
Tweeted a request asking our followers to ‘Become a Fan’ (again, the two of us each have 100+ followers)
That did it….we are now at 105 fans and have our handy-dandy custom username! Like I said, I’m sure there are more effective ways to gain a following, but just wanted to share what worked for us. Feel free to comment here if you have other suggestions. We'd love to hear more ideas!
(* To do this easily, log in to your Business Page and, just below your photo/logo, you will see some links. Click on 'Suggest to Friends' (you may have to click on 'More' before you see this option). A box will pop up with all of your existing Friends and you can either select one at a time, or choose a Friend Group or Network to invite.)
The Bibeau Group has prepared the following statisitcs on the real estate market in the Greenfield neighborhood of Centennial, CO. Greenfield is a subdivision in the Cherry Creek School District in the southest Denver metro area. The following information was compiled on August 11, 2009*.
Sold Greenfield Homes Stats :
11 homes sold (including 5 in June)
Average Days on Market: 72
Average Net Sold Price: $310,750
Average Net Sold Price Per Square Ft: $121
Highest Sale Price: $213,500
Lowest Sale Price: $410,000
Net sold price/original asking price: 97%
Sold Greenfield Homes By Address:
Date
Address
Sold Price*
Fin. Sq. Ft.
Days on Market
5-12-09
20252 E. Lake Ave.
$300,000
3,226
87
5-21-09
5923 S. Ireland Ct.
$406,000
4,728
97
5-22-09
20614 E. Lake Dr.
$220,000
1,864
243
5-29-09
6278 S. Killarney Ct.
$291,000
2,819
63
6-05-09
20181 E. Maplewd Pl.
$325,000
3,444
13
6-16-09
20228 E. Lake Ln.
$410,000
5,313
15
6-18-09
6156 S. Jericho Way
$250,000
4,120
2
6-29-09
20671 E. Euclid Dr.
$380,000
3,122
13
6-30-09
20697 E. Lake Ave
$213,500
1,670
22
7-22-09
20294 E. Maplewood
$355,000
3,749
118
8-3-09
20499 E. Weaver Ave
$365,000
2,997
178
*after any concessions by seller, such as down payment or closing cost assistance
Looking to sell your Greenfield home? Contact The Bibeau Group, your Greenfield real estate experts, for more information on how we can help!
*All information is based on information from Metrolist, Inc. for the period May 11, 2009 through August 11, 2009. Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist may not reflect all real estate activity in the market.
Here is The Bibeau Group's most recent summary of Denver Real Estate headlines. The following are excerpts, but you are able to read the complete stories by clicking on the links. Please let us know if you have any questions about the articles or what they might mean for your personal situation.
"July home resales in metro Denver were the best of any month yet in 2009, but still down from the same month of 2008, according to Metrolist Inc. data released Friday by member brokers. Home resales -- which are sales of single-family homes and condominiums that have been sold at least once before -- reported by Metrolist increased 6.1 percent last month to 4,440 from 4,186 in June. "The Denver resale market is alive. The price range of $200,000 to $300,000 continues to be the area of major activity in the residential home arena," Gary Bauer, an independent broker in Littleton, said in a statement."
"The Denver-Aurora metro area ranked No. 45 in the nation for foreclosures in the first half of the year, the latest sign that while the local real estate market is improving, while much of the rest of the country is still caught in the downward spiral of people losing their homes. A mid-year report released today by RealtyTrac, based in Irvine, Calif., shows that foreclosures in the Denver-Aurora area are down 29.43 percent in the first half of the year."
"First-time home buyers have just four months — until Nov. 30 — to close on a home to take advantage of the $8,000 federal tax credit. A first-time buyer is defined as someone who has not owned a principal residence for the past three years or has never owned a home. The home you purchase can be a condo, townhome, patio home, houseboat, manufactured home, or single family home. It must be priced at $80,000 or higher to get the full tax credit. The 2009 tax credit does not need to be repaid if you live in the home as your principal residence for 36 months.
Recognizing that some first time buyers are unable to buy due to the lack of down payment, HUD has put together a program to allow families to use the tax credit toward closing costs, to buy down the interest rate, or make a bigger down payment on FHA loans. Colorado Housing Finance Authority also has a policy that allows first time buyers to take advantage of the tax credit for down payment and closing costs. These programs coupled with the tax credit will help people enter the market that might otherwise be unable to do so. Their purchases will help trigger other sales as those sellers move to different homes. Check with your tax adviser to see how the tax credit would benefit you."
"There is an opportunity in residential real estate ownership unlike any we've seen in quite a long time, a perfect storm of sorts that is unlikely to last much longer. Home prices are down, interest rates remain near historical lows, and inventory is high. Thus, those with stable jobs and good credit can find their dream home, pay a price lower than any time in the last five or more years, finance it at a very favorable interest rate, and thereby be perfectly positioned for the housing recovery that the magazine wrote about."
"Chances are three out of four that your Denver-area company is giving out raises this year, a survey out Tuesday indicates. In fact, Denver ranks No. 5 on a list of the 10 best U.S. cities for getting a raise, according to the poll by WorldatWork, a global human resources association. The survey says 76 percent of Denver companies are giving raises to "middle performers," and the average raise is 2.1 percent."
"A rising chorus of economists are declaring an end to the longest U.S. recession since the 1930s, a necessary step for Colorado's recovery. "The 'Great Recession' is no more. It's over, finished, kaput!" declared Jeff Thredgold, an economist with Vectra Bank Colorado. Thredgold serves on three national forecasting groups, and all predict economic growth will return this quarter and continue into next year. But local economists differ on whether Colorado's downturn will also end this quarter, with some cautioning that job losses will continue far into 2010. "Although the state went into the recession later than the nation, we are forecasting it to come out at roughly the same time," said Tim Sheesley, chief economist with Xcel Energy."
Heritage Place is a neighborhood in Centennial CO, about one mile west of I-25 and Arapahoe Road. It was built in the mid-1970's. Residents of the neighborhood benefit from high quality Cherry Creek Schools, as well as a location that is convenient to shopping, restaurants and several great parks.
A recent review of the neighborhood real estate statistics follows.
Sold Properties (2/9/09-8/9/09):
All of the properties sold during the past 6 months were tri-levels, with the exception of 1 ranch
Average days on market was 57
Average net price per square foot was $150
Over the past six and twelve month periods, the average sales pace in the neighborhood has been 1.3 homes per month (absorption rate)
Over past 3 months, the selling pace is 2 per month: Activity has picked up
Under Contract Properties (as of 8/9/09):
There are 4 homes under contract right now (1 tri-level and 3 two-stories), one is a short sale. The asking prices for these properties range from $260,000-$389,000
The average days on market for these 4 under contract properties was 92
Average list price per square foot (currently active properties) = $131
With 3 homes on the market now, there is a 1.5 month supply at the current absorption rate
For more information about community amenities and events, the Homeowner's Association website is a great source. If you are thinking about selling your Heritage Place home, we would be happy to chat with you and provide a no-obligation home valuation. You can reach us via email, phone, text or live chat!
Home buyers and home sellers in the Piney Creek area in Centennial/Aurora, CO should be aware of the most recent real estate market activity. Statistics over the past four months are showing us that the market is very different depending on what price range one is looking at. For example, data from the past 4 months show us that:
The $300-400K price range makes up 42% of current supply and 47% of solds
The $400K and above price range makes up 40% of actives, but only 13% of sold
The $500K and above price range makes up 30% of actives, but only 7% of solds
86% of the Solds in past 4 months have been at $400K and lower
Take note in the chart below of the final column, showing the the number of months of inventory is on the market, given the current sales pace. There is a notable difference in the market above $400K.
If you are in need of further information or assistance, please feel free to give us a call or visit our website any time. Also, there is a live chat box in the sidebar...if we are online, send us your question or needs for real-time assistance.
*Based on information from Metrolist, Inc. for the period February 5 through August 5, 2009. Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist may not reflect all real estate activity in the market.
Here is Part II of The Bibeau Group's summary of recent Denver Real Estate headlines. The following are excerpts, but you are able to read the complete stories by clicking on the links. Please let us know if you have any questions about the articles or what they might mean for your personal situation.
Denver was named America's No. 1 city on the verge of recovery from the real-estate slump in a segment Tuesday on NBC's "Today" show. Real estate expert Barbara Corcoran, a regular guest on the show, said Denver more than any other U.S. city is "clearly on a rebound." "It's really the perfect real estate success story," she said. "It had one of the highest foreclosure rates in the nation for years running, and now they've cut that foreclousure rate in half and they've turned the corner." Rounding out Corcoran's list of cities poised for a real-estate rebound: * 2. Raleigh, N.C. * 3. Austin, Texas * 4. Seattle * 5. San Francisco
The city of Denver will offer free building permits through the first half of June for home-improvement projects as a way to encourage economy-boosting renovation work. The free permits are for common improvement projects involving single-family homes and duplexes. They will be available June 1-15 and are valid for 180 days, the city announced Friday. Permits will be issued on the spot to homeowners or their contractors. Building-permit fees normally range from $20 to several thousand dollars, depending on the value of the project.
There is a growing belief among financial experts that the recession is over. New housing inventory data seem to show improvement in the housing market. Barry Knapp, a strategist at Barclays Capital, wrote recently that the economy appears "to be in the sweet spot of a recovery" and that the recession may have ended last month, according to Bloomberg News. Sonders warned that unemployment is a lagging indicator and, historically, employment figures don't begin to recover until six months after the end of a recession. That means that this time around, unemployment likely won't peak until the end of this year.
Declining home values mean 32 percent of Denver-area homeowners owe more on their mortgages than their homes are worth, according to a recent report by Zillow.com, a statistic local experts dispute. Home values dropped 7.7 percent in the first quarter of 2009 compared with the same quarter a year ago, the report says. But many local industry experts are skeptical of Zillow's numbers, which are based on sales data gathered from public records that can be out of date. Lou Barnes, owner of Boulder West Financial Services, said a number of other organizations provide data on the housing market that are much more reliable than what Zillow released.
Bidding wars arise frequently in the REO market, especially for homes priced below $200,000, Denver brokers say. Many REO-listing agents report having seen low-priced properties attract 20 or more offers. More than in past down cycles, lenders are easing their repossessed foreclosures back onto the market rather than loosing a flood, according to Michael Clarkson of Mile High Home Hunter Realty.
The second part of the strategy is to "price them low and dirty to get people to come in and bid," he said. The holdback strategy seems to be working for lenders, said Ed Cluff, an investor.... "I've seen a lot of price escalation, particularly in north Aurora, Thornton and Montbello." For properties priced below $200,000, the average time on market is 2.6 months, according to MetroList. That's half of what it was just 13 months ago and less than half the time on market for homes priced between $200,000 and $400,000.
But many say the uptrend is temporary, driven mostly by banks holding their REO properties rather than selling them and holding off on new foreclosures. When those effects wear off, REO prices will fall, according to Craig Hindes, a broker with Coldwell Banker in Westminster. "A lot of inexperienced people will be stuck with properties they paid too much for."
Although sophisticated computer models are used to value properties, not everyone will be pleased. Below are a few things property owners need to know.Valuation notices detail how property owners can file a protest by the June 1 deadline. It's easy to challenge factual errors such as a property's square footage, the number of rooms, or a supposedly finished basement that isn't. More challenging is contesting the value assessors have placed on a home, especially in a volatile real estate market. One of the most common mistakes people make in disputing valuations is to compare recent sales or appraisals with their property, Groff said. Assessors review sales over an 18-month period that ended June 30, 2008. Information after that can't be in the appeal.
There has been a lot of information coming out recently about the Denver real estate market. So much, in fact, that we have categorized our summary into three separate articles. This first post covers specific real estate statistics for the Denver area. Our next post will cover other Denver real estate news. Below are excerpts from several news stories, please click on the title for the complete story.
"Enough Already. Yes, these are the worst economic conditions since your grandfather's primary vehicle was a tricycle, with no end and little clarity in sight. So let's gather ourselves and sort out which numbers really matter and which ones merely perpetuate the fear that's gripped the financial and real estate markets for months.
First: Denver actually scores remarkably well on the index of overall housing-related distress. In 2008, area foreclosures declined almost 12 percent from 2007, the first year-over-year decrease in more than a decade.
Second: Our home prices 'only' declined by 5.1 percent from January 2008 to early 2009—compared to the national average of 19 percent—a relatively slight dip that made Denver one of the nation's top housing markets in 2008."
"Colorado home foreclosure filings and sales both dropped in the first quarter from a year earlier, a positive sign for the state's economy, the Colorado Division of Housing said Monday. New foreclosure filings, the first step in the foreclosure process, fell 8 percent to 10,745 from 11,634 in the first quarter of 2008. Completed foreclosures dropped 26 percent, to 4,354 from 5,899 in the same period a year earlier.
"We continue to be cautiously optimistic," said Kathi Williams, director of the Division of Housing, in a statement. "Unemployment continues to be a concern as do future resets on adjustable rate mortgages. Of course, other states have these same dynamics, but their foreclosure rates are going up while ours are stabilizing. That's a good sign for us."
"Imagine putting your house up for sale and having an expectation of selling it for more than the asking price. Now imagine not only selling it for above the asking price, but having it sell in a matter of weeks. This isn't a history lesson from the housing market boom of a few years ago; it is the real estate picture in the Denver metro area today.
The hottest segment of the housing market right now is homes priced under $300,000. According to recently released sales figures, properties priced between $210,000 and $315,000 are selling in just more than four months on average. Homes priced between $135,000 and $210,000 are, on average, moving in just more than three months.
However, the properties priced below $135,000 are selling fast. Those homes priced between $135,000 and $85,000 are selling in two months on average. And the hottest portion of the housing market right now is homes under $85,000. They are selling, on average, in weeks not months and many of those properties are getting multiple contract offers, sometimes above the asking price."
"Denver-area condo sales improved more than single-family home sales in April from the previous month, according to data released Thursday by Metrolist Inc. Metrolist Inc. is metro Denver’s Multiple Listing Service for homes on the market.
While single-family home sales improved nearly 5 percent in April from March, condominium sales rose 11 percent."
"While the market for homes above $400k is clearly the weakest of the price ranges, there were some inklings of life during April. With between a year and five year’s supply available in the prices ranges above $400k, sellers shouldn’t be expecting too much relief in the short-term.
However, increases in the number of properties under contract (and the corresponding US ratio) suggest the improvements in the lower price ranges may be trickling through. For home sales between $400k and $500k – active listings fell slightly, sales dropped about 4%, properties under contract increased almost 20%, the Under contract to Sold Ratio (US Ratio) increased significantly and Months of Supply (MOS) hit 11.79.
While the actual sales performance remained weak – the significant increase in the leading indicators (Under contract, US ratio) bodes well for the coming selling season. Depending on the increases in sales volume, this price range should begin to see more consistent price stability across Denver as the bargains are snapped up and loans become more readily available."
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
If you have a business Page on Facebook, you may know that when you reach 100 ‘Fans’ you are then able to choose a ‘username’ for your page. A username comes in quite handy because it allows you to have a direct URL to your Facebook page that is easy to remember and publicize…..and isn’t a bazillion characters long!
The Bibeau Group has prepared the following statisitcs on the real estate market in the Greenfield neighborhood of Centennial, CO. Greenfield is a subdivision in the Cherry Creek School District in the southest Denver metro area. The following information was compiled on August 11, 2009*.
The Bibeau Group has prepared the following statisitcs on the real estate market in the Hills at Piney Creek in Centennial, CO.
Here is Part II of The Bibeau Group's summary of recent Denver Real Estate headlines. The following are excerpts, but you are able to read the complete stories by clicking on the links. Please let us know if you have any questions about the articles or what they might mean for your personal situation.
There has been a lot of information coming out recently about the Denver real estate market. So much, in fact, that we have categorized our summary into three separate articles. This first post covers specific real estate statistics for the Denver area. Our next post will cover other Denver real estate news. Below are excerpts from several news stories, please click on the title for the complete story.
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