bandy homes: Denver Home Values Expected to Increase
- 06/09/12 04:26 AM
It’s a good time to be a Denver home seller, so say the results of the HomeGain National Home Values Survey for Q1 2012. HomeGain queried over 400 real estate agents/brokers and more than 1700 homeowners, grouping results nationally and by region.
Nationally, 37 percent of Realtors® and 25 percent of homeowners believe home values will increase in the coming months. Last quarter both groups weighed in at just 15 percent.
On the flip side, only 22 percent of agents surveyed expect decreasing home values in the next six month versus 42 percent last quarter. Homeowners expecting a drop went from … (2 comments)
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bandy homes: METRO DENVER REAL ESTATE MARKET UPDATE - MAY 2012
- 05/28/12 11:57 AM
Wow! What a spring we are having! The Market continues to give signs of hope and prosperity! We are still amazed at the lack of inventory as Single Family Homes stayed at 8,353 number of units currently active, and Condo’s/Townhomes at 1,901. This is a very unique time in the Metro Denver Real Estate Market, as we see unbelievably low inventory and the number of under contracts and closings continues to rise! Price pressure continues to build and we are already seeing median price increase s versus a year ago of 5% for SF homes and 7% for townhomes … (2 comments)
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bandy homes: 5 Tips to Be the Winning Buyer for Your Denver Home
- 05/11/12 02:24 AM
If you’re buying a Denver home, be forewarned: this is not last year’s housing market and the rules for buyers are shifting with the housing turnaround.
Here are five new tenets that all serious buyers should heed.
Skip the Lowball Offer – In this improving market, you’ll do better asking the seller for concessions such as help with closing costs or paying for needed repairs. Making an offer far below asking price can at best prevent price negotiation and at worst kill the deal altogether. Savvy Denver home sellers will just move to the next buyer in line.
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bandy homes: Higher Rental Rates Are Good News for Denver Investment Property Owners
- 05/09/12 08:37 AM
The numbers bear it out. People really do want to live in Denver over other places in the country. Nothing shows this more clearly than the increased demand for rental units, the large uptick in rental charges, and the plunging apartment vacancy rate in the Denver area.
A report from the Apartment Association of Metro Denver and the Colorado Division of Housing says the average rent for a metro Denver apartment had a 4.5 percent year-over-year increase from Q1 2011 to Q1 2012, the largest jump for any quarter since 2002. In dollars, this equates to average rents growing … (0 comments)
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bandy homes: Stealth Tactics for Buying a Denver Home
- 05/03/12 01:09 AM
If you’re hunting for real estate in Denver, you may need to consider a new tactic: stealth. In markets where available homes have dwindled or listings come and go quickly, some home buyers are skipping the MLS and working behind the scenes with agents and/or directly with sellers.
This is particularly true in Denver, which is second in the country for the shortest time on the market for home listings. Homes in Denver are on the market for a mere 33 days, well below the 89-day national median. There are just too few homes in the area to meet the … (0 comments)
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bandy homes: METRO DENVER REAL ESTATE MARKET UPDATE - APRIL 2012
- 04/26/12 01:20 PM
The Market is Shifting
Buyers are coming out of the woodwork looking for homes, but not finding much to choose from, especially in the under $300,000 price range. We are counseling buyers in this price range to be ready to jump quickly on any house that comes on the market that meets their criteria. That means being pre-approved for a loan, have earnest money ready, and being ready to make a quick decision. This price range is no longer a buyers’ market; it is a sellers’ market, with many properties getting multiple offers within days of being … (0 comments)
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bandy homes: Bidding Wars Mean Good Things for Denver Housing Market
- 04/06/12 10:01 AM
Attention anyone who’s currently hunting for a Denver home. The buyer’s market is on its way out, home prices are starting to rise, and you might just find yourself in a bidding war for the house you’ve chosen.
The last time bidding wars were common was back in 2006; then the buyer’s market took hold and most Denver home sellers had to settle for whatever they were offered, including lowball bids. But real estate markets in places like Denver, Seattle, Boston, and Washington DC are reporting that bidding wars have begun to happen again, especially in the lower price ranges.
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bandy homes: Hispanic Homebuyers Could Help Denver and the Nation
- 03/31/12 02:32 AM
A new report by the National Association of Hispanic Real Estate Professionals suggests that the country’s Latino population may play a huge part in turning around the housing market. This is great news for potential homebuyers in Denver and other U.S. cities.
This report, “The State of Hispanic Home Ownership 2011,” shows that Latinos are poised to become a growing force in the housing market. Their purchasing power reached $1.1 trillion in 2011and is expected to grow to $1.6 trillion by 2016.
There are many factors in play, but probably the most significant is that from 1980 to … (3 comments)
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bandy homes: Rent vs. Buy a Denver Home - Study Says Buy in Denver
- 03/23/12 11:15 AM
Lately, everyone has been shouting from the rooftops about what a great time it is to buy a home in Denver and other major U.S. cities. And now Trulia has provided some serious statistics that confirm all the yelling with their Trulia Winter 2012 Rent vs. Buy Index.
This year’s Index shows that it’s more affordable to buy than to rent in 98 of the 100 most populous metro areas in the nation, including highly priced cities like New York, Los Angeles, and Boston—but Denver residents have it especially good.
The data is based on the asking prices of … (2 comments)
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bandy homes: METRO DENVER REAL ESTATE MARKET UPDATE - MARCH, 2012
- 03/21/12 11:46 AM
Well, the word on the street continues to be “Inventory, Inventory, Inventory!” Very few times in history have we seen our inventory drop to these kinds of levels without a major shift occurring in our marketplace! The Pendulum is now starting to swing back in the favor of sellers. The first signs of a recovery are a lack of inventory, demand outpacing supply, and upward pressure on prices! As you will see in the attached data, inventory is down approximately 40%, while sales numbers are up modestly about 12% year over year. Average Prices, however, are almost flat, which … (2 comments)
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bandy homes: Denver Employment Forecast is Good News for Denver Home Sellers
- 03/17/12 12:49 PM
Once again, Denver residents have something to brag about. The most recent quarterly Manpower Employment Outlook Survey shows that employers in the metro Denver area will both continue to hire and hold off on staff reductions. This makes Denver-Aurora the fifth best employment area in the country.
A Manpower spokesperson said that employers nation-wide expect stronger employment forecasts versus one year ago. But when compared to the nationwide numbers, Denver is well above the average.
Of the 140+ Denver-area employers who were interviewed about the next quarter’s hiring plans, 18 percent plan to hire more employees and none have … (0 comments)
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bandy homes: Water Woes to Ease for Homeowners in Parker and Surrounding Communities
- 03/16/12 03:37 AM
What began as an idea 25 years ago in 1985 is ready to become the Rueter-Hess Reservoir, the first large water storage facility built along the front range in over 20 years.
Located three miles southwest of Parker on Newlin Gulch, this new reservoir will provide much-needed water services to 45,000 residents of Parker as well as homes in the surrounding communities of Castle Rock, Castle Pines North and Stonegate. Water will begin filling this 72,000 acre-foot reservoir once final safety inspections are complete.
Initial plans called for the reservoir to be only 16,200 acre-feet, but in 2008 the U.S. Army … (0 comments)
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bandy homes: Buying Another Denver Home After a Foreclosure or Short Sale
- 03/09/12 07:19 AM
The recent economic down-swing has affected almost everyone in some way, but homeowners have been among the hardest-hit with foreclosures of over 4 million homes in the last six years.
Former homeowners can now take heart as they look to again buy a home in Denver or anywhere across the country. The normal re-buy waiting period of up to seven years is shrinking, especially for those whose foreclosure or short sale resulted from a job loss, illness, or other extenuating circumstance.
How long you’ll wait depends on your lender as well as your situation. Homeowners with a foreclosure must … (0 comments)
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bandy homes: More Denver Renters a Good Sign for Denver Homeowners
- 03/02/12 12:31 PM
A recent study by TransUnion LLC, a credit information-management service, offers yet more proof that people want to live in the metro Denver area.
According to the study, average rental charges for apartments in Denver have increased more than 10 percent in the past year, which would indicate that Denver’s economy is strong enough to be drawing in new residents.
At a time when U.S. vacancy rates for rentals were at their lowest in ten years, Denver’s average rents went from $777 in Q4 2010 to $857 in Q4 2011. Average national rents went from $831 to $820 for … (2 comments)
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bandy homes: METRO DENVER REAL ESTATE MARKET UPDATE - FEBRUARY 2012
- 02/27/12 10:31 AM
Are We Witnessing the Bottom of the Denver Real Estate Market?
Wow, we are seeing some definite momentum to begin this new year of 2012! Typically January’s activity is lower than December as far as numbers of closings go. But this January’s closings compared with January 2011 showed an increase of 16%! The big story continues to be the lack of inventory, and buyers are still being picky on their selections.
Interest Rates are still at historically low levels and will be through the first half of 2012. Prices for single family homes priced below $250,000 have risen … (0 comments)
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bandy homes: Who’s the Best Date in Denver? A Homeowner!
- 02/17/12 07:08 AM
If you invite that certain someone back to your place after a date, you’ll have a better chance of success if you own it rather than rent it. In fact, you’ll have a better chance of getting the date in the first place.
In a recent survey of 1,000 singles conducted for Trulia, over 33 percent of women and 18 percent of men said they would date a Denver homeowner over a renter.
Stated a different way, only 2 percent of women and 3 percent of men said they would prefer to date a renter.
If you live … (3 comments)
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bandy homes: Positive Labor Market Good for Denver Buyers
- 02/07/12 02:29 PM
If you’re a current Denver homeowner looking to refinance or a potential Denver home buyer, the labor market has just given you something to smile about.
The recent Jobs Report confirmed that job numbers have gone up and the unemployment rate has gone down. More than 257,000 private-sector jobs have been created since the previous Jobs Report, and the Unemployment Rate has dropped by 0.2 percent landing at 8.3 percent—the lowest rate since February 2009.
And according to the Commerce Department, December personal incomes jumped up 0.5 percent, which was higher than expected and a vast improvement over … (0 comments)
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bandy homes: Investors Tout Denver Real Estate Market for 2012
- 01/28/12 02:59 PM
If you’re looking for a great place to buy or invest in real estate, head straight to Denver, Colorado says Greg Rand, CEO of OWNAMERICA. Appearing recently on the FOX Business Channel, Rand discussed all the things that make Denver the choice of both real estate owners and investors for 2012 and beyond.
Living in Denver offers a quality of life that is drawing people in droves from the northeast, southeast and California to name a few. It has a low cost of living and a high quality of life that includes fresh air, outdoor sports, and a stable, young … (2 comments)
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bandy homes: DENVER REAL ESTATE MARKET UPDATE - JANUARY 2012
- 01/19/12 03:20 AM
Market Metrics:
The name of the game as we enter 2012 is INVENTORY! Take a look at these numbers for 2011, and you will see many categories were very similar to 2010, but the inventory numbers are the first signs of the changing market!
Active Listings inventory continues to decline 13% month over month and 40% year over year. Under Contract activity and Closed Transactions activity remain at seasonal levels with a continual decline month over month. The New Year starts with renewed hope that 2012 will be better than 2011 and the indicators are pointing that … (0 comments)
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bandy homes: Events of 2011 Impact Denver Homeowners
- 01/07/12 03:48 AM
Many people were happy to close the books on 2011. But while the year is gone, its impacts on the housing market will continue well into 2012 and possibly longer. Here is a recap of five 2011 events that homeowners in Denver and across the country will need to keep an eye on.
Robo-Signing Reverberations – In 2010, some banks were accused of approving foreclosures without proper or complete documentation. In 2011, potential lawsuits made banks slow or stop their foreclosure processes, leaving affected homeowners hanging in limbo. It’s expected that settlements will begin in 2012, with a potentially large … (1 comments)
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It’s a good time to be a Denver home seller, so say the results of the HomeGain National Home Values Survey for Q1 2012. HomeGain queried over 400 real estate agents/brokers and more than 1700 homeowners, grouping results nationally and by region.
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