market trends: Top 5 Things You Must Know to Get Your House Sold Now
- 08/12/10 04:03 PM
A friend of mine is a lender in a mountain town in Colorado. We’ve been talking about home sales and where the market might be headed. Here is an excerpt of an email he sent me yesterday: “From what I’m hearing around the country (from lenders,) everyone has seen the buyer market completely dry up. Like off a cliff. Wonderful. At least I’m busy with refinances.” Why is the buyer market drying up? Rates are at unbelievable lows. Like nothing any of us has seen in our lifetime. Prices are as low as they’ve been since 2004. With low rates and … (7 comments)
market trends: Denver Real Estate Prices Rise 1.5% Since May
- 07/01/09 03:39 PM
Denver real estate is in recovery. We’re the baby sapling, taking root and growing strong. The thing is, we never totally crashed and burned like other cities did. Prices went down for sure and according to yesterday’s S & P - Case Shiller Report, we’ve seen depreciation of 4.9% since this time last year. Compare that with Phoenix, down 35.3% year over year. Since last month, Case Shiller reports that Denver’s prices have appreciated 1.5%. That’s an awesome bounce. Some analysts think this may be a seasonal adjustment, and may not signal a recovery. I disagree. Our available inventory … (4 comments)
market trends: Denver Colorado Real Estate | April 2009 Market Statistics
- 05/08/09 01:15 PM
Yay! The market statistics are out for the month of April. This is always my favorite blog post of every month, and I wait with baited breath for the Metrolist stats to be put up on their site. These statistics are based on homes listed for sale in the Denver MLS, and do not reflect private sales, many foreclosures or much new construction. In April, our inventory remained about equal to what we had on the market in March. Combined single family and condo listings were at 20,628 in March and 20,705 in April. Sales have dropped from a year … (0 comments)
market trends: Denver Colorado Real Estate | February 2009 Market Statistics
- 03/10/09 02:21 PM
It’s that time again! Time to review the performance of Denver’s real estate market in February. Stocks are plunging, national employment numbers are falling and yet our real estate market seems to be weathering the storm. We may be on shaky ground, and we are still seeing some prices falling, but deals are coming together and most buyers are able to find financing at great rates. In fact, 4,183 homes were put under contract in the month of February - a 9.19% increase over January. We’ve added inventory since last month, and currently have 20,059 properties on the market. The … (0 comments)
market trends: Knowing When It’s Time to Buy a Move Up House
- 02/24/09 01:23 PM
In today’s real estate market, there is a very compelling argument that it’s a good time to buy a move up property. You say, “I can’t sell now, I’ve lost money on my house.” Assuming you’re not upside down and owe more than the house is worth, you may not be losing as much as you think. Say you’ve lost 20% in value - as shown in the first slide - your “loss” compared with the loss the larger property incurs wouldn’t be as high. The percentage decline is a function of the value of each of the homes. If your … (1 comments)
market trends: Your IRA and 401k Can Buy a House! Five Ways to Become a Landlord on Someone Else’s Money
- 02/15/09 05:22 AM
You know that this would be a great time to get into investing. You know that mortgage rates are down. You know that the millions of people losing their homes to foreclosure can’t stay on their mother-in-law’s couch much longer. And you know that sellers are bargaining when a buyer finally does walk through the door. Why not buy a rental property? Yes, I know. You’re thinking: I don’t have any money for down payment or fix up costs I don’t think I’d make a good landlord My credit score is too low to qualify for a loan My investment adviser … (2 comments)
market trends: Denver Colorado Real Estate | January 2009 Market Statistics
- 02/15/09 05:12 AM
Denver real estate sales seemed to take a hiatus in January. While January is typically a slow month for closings, this was softer than usual. Buyers and Sellers were truly jarred by the economic cliff we fell off. As the plummet felt faster and faster in November and December, people hunkered down and focused on family and the holidays. Remember, closings in one month are a result of contracts written the previous two months. January 2009 was slow because at the end of 2008 people were waiting. Waiting for the new administration, waiting to see what their 401k looked like, … (0 comments)
market trends: Is Now a Good Time to Buy Denver Real Estate?
- 01/27/09 11:50 AM
Where do you think we currently fall on this graph? Somewhere between Panic and Depression? Inching toward Hope judging from Denver real estate’s showing activity in the past 14 days? Too many buyers will wait until we pass Hope and head into Optimism. That may be the right time to move homes, but it won’t be the time for maximum return on investment. Homeowners should remember that their primary residence is first and foremost a place to live, raise the family, make memories. Second - it is an investment. Investors looking for rentals, or an extremely well-calculated fix and flip, … (2 comments)
market trends: Denver, Colorado - Stability in Home Prices Predicted
- 01/18/09 01:11 PM
The PMI Mortgage Insurance Company, located in Northern California, issued their quarterly “Market Risk Index” this week. Denver, Colorado is listed among 10 U.S. cities as those posing minimal risk of housing prices being lower in two years than they are today. This report doesn’t make assertions as to whether housing prices will rise, but it’s a good bet that stable or rising prices are more likely in our future than lower prices are. Combine this news with historically low mortgage rates, and you see what a great time is is to get off the fence if you want to buy … (4 comments)
market trends: Denver Colorado Real Estate | December 2008 Market Statistics
- 01/12/09 01:30 PM
Prognostications from the kitchen table That’s pretty much what we do, real estate bloggers - peer into our crystal balls, ignore the strictly bad news and go with our gut. But our gut involves real world experience. We’ve either got buyers in our cars or we don’t, we’re either listing properties or we’re not. If we are driving buyers around and we can find good inventory to show them, then we can say that for that market segment we see demand. Seasonally Adjusted Listen to the statistics you hear from “national” publications, and you may not be aware that there is … (2 comments)
market trends: Heard on the Street - Denver Real Estate and the Mall
- 12/18/08 01:19 PM
It’s just 8 days until Christmas, and even fewer until Hanukkah. What have I been doing? Baking cookies for 80 people. The agents in my office are hungry for cookies, and I’m accommodating them in their time of need. I’ve also been asking around, observing and trying not to shop unless absolutely necessary. One of my father’s favorite Christmas movies is A Christmas Story. He watches it every year and laments that he’ll miss it this year since he’s on a boat in the Antarctic channeling Ernest Shackleton. But I digress… In A Christmas Story Ralphie tries to convince his parents … (3 comments)
market trends: Denver Colorado Real Estate | November 2008 Market Statistics
- 12/17/08 02:32 PM
It’s that time of the month to reflect back on Denver’s residential real estate sales. Denver real estate is up and it’s down, it’s selling and stalling. It depends on who you ask, what their circumstances are and what price range they’re in. We’ve had several instances of multiple offers in my office this past month. This seems to be happening when the price is set correctly or even a little aggressively, when the house shows perfectly and when the price is between $250,000 and $500,000. Remember sellers - You’re not only in a pricing war, you’re in a beauty contest. … (3 comments)
market trends: Denver, Colorado Gets a Real Estate High Five in Wall Street Journal
- 12/02/08 02:49 PM
So the U.S. is in a recession. I got that important text message to my BlackBerry yesterday from the NY Times while I was sitting in a meeting. I was flabbergasted, couldn’t believe it. Actually, I’ve been helping real estate brokers in my office and sellers whose properties I have listed weather this recession since about December 2007. Surprise - the official pundits tell us the recession started in…. December 2007. In today’s Wall Street Journal I found an interesting article, “The Future For Home Prices.” The author, James Hagerty, discusses where home prices will trend in the future, and whether … (0 comments)
market trends: Denver Colorado Real Estate | October 2008 Market Statistics
- 11/11/08 11:28 AM
I’m waiting in the airport in Orlando after the week-long National Association of Realtors conference, and I’m ready to get back to Denver and to selling Denver real estate. Of the many things I’ve learned while I was here, one is how many real estate brokers feel that Denver’s market is preferable to theirs. Many times, when I introduced myself, I heard, “Oh, I wish I was selling there.” The perception is that Denver’s real estate market is beginning to build up strength ahead of many other U.S. cities. As I’ve said in past articles, our low to mid-range homes … (3 comments)
market trends: Denver Economics - Real Estate Market and Current Trends - part 4
- 11/06/08 06:27 AM
Last week, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media were there as well. I’ve been presenting to you the highlights from each speaker, but am writing one at a time. In this final article, we hear from David Mandarich, President & COO of Richmond American Homes. Mandarich opened with the bold exclamation “Now is … (0 comments)
market trends: Denver Economics - Real Estate Market and Current Trends - part 3
- 11/03/08 01:28 PM
Last week, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media was there as well. I plan on presenting to you the highlights from each speaker, but am writing one at a time. Today, let’s hear from Erik Davidson, the SVP and Senior Director of Investments for Wells Fargo Private Bank. He questioned, “Are we in a … (0 comments)
market trends: Denver Economics - Real Estate Market and Current Trends - part 2
- 10/31/08 12:52 PM
This week, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media was there as well. I plan on presenting to you the highlights from each speaker, but will write one at a time. Today, let’s hear from Joe Blake, CEO of the Denver Metro Chamber of Commerce: Blake opened with a quote from Shakespeare, “All the world’s … (1 comments)
market trends: Denver Economics - Real Estate Market and Current Trends - part 1
- 10/29/08 03:03 PM
Last night, The Kentwood Companies sponsored a real estate and economic forum for our agents and clients. The speakers were nationally recognized experts in their respective fields, and had some extremely interesting comments to make about the U.S. economy, the Denver, Colorado economy and real estate trends. Over 1,000 people attended, and the local media were there as well. I plan on presenting to you the highlights from each speaker, but will write one at a time. Today, let’s hear from Steve Murray, CEO of Real Trends: The causes of the housing downturn are many, but the affordability index fell drastically … (0 comments)
market trends: Denver Colorado Real Estate | Top 5 Ways to Move Your Listing to First Place
- 10/26/08 05:24 AM
Many home sellers are finding themselves heading into the Fall and Winter months with their house still on the market. “Why?” They ask, “My home is wonderful and I love it, why doesn’t someone else? Why are we missing the bullseye?” Denver real estate is very segmented right now with some segments selling much better than others. Many home sellers are on their second or even third listing agent and have reduced their price along the way. They’re wondering where they go from here. Even wondering if they should remove their house from the market through the winter. Market trends … (0 comments)
market trends: September ‘08 Market Stats
- 10/08/08 01:59 PM
Metrolist has released the sales data for September, and the trend continues to show that days on market are shortening. As we see inventory moving in the medium price ranges, with fewer new listings coming on the market, we’ll see that properties are selling more quickly. The high end properties continue to languish, and as you can see in the attached chart, average sales price is falling. A friend of mine, Lon Welsh at Your Castle Real Estate, publishes his own statistical analysis of Denver’s Market, and he shared a graph with me today that shows we have 31 months of … (0 comments)
A friend of mine is a lender in a mountain town in Colorado. We’ve been talking about home sales and where the market might be headed. Here is an excerpt of an email he sent me yesterday:
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