denver: Is Shadow Inventory Bad?
- 02/03/10 02:31 PM
I have read several stories in the last month from organizations like RealtyTrac and others that they estimate that banks own another 3 million homes nationwide that are NOT on the market to be sold yet. This inventory is called shadow inventory and is widely considered to be bad news. Why? This further supply of homes will drop real estate prices lower is the expectation or it will cause the housing recovery to be slower.But, let's look at the Denver market. Most "experts" think that banks own about 13,000 homes in shadow inventory currently in the Denver area. I would guess … (3 comments)
denver: Denver's Market In The Top 7
- 11/15/08 04:31 AM
According to Smart Money Magazine November 2008 issue they named Denver one of the 7 most promising cities for a real estate rebound in the near future. I would agree. In the magazine they quoted the PMI Group's quarterly risk survey which might be the best risk assessment survey in the business and here is what they said, "According to PMI's ‘risk index,' which estimates the odds of prices falling in a given market, at least 65 percent of the nation's 386 metro areas have less than a 10 percent chance of seeing lower prices two years from now." Denver's risk … (0 comments)
denver: Denver home prices up 4.1%
- 10/31/08 11:06 AM
This week the S&P Case-Shiller Index was released with information from the month of August. For Denver, home prices have increased 4.1% in the last 6 months since March! This continues to be great news. It appears that for Denver, March was the bottom of the market. Hopefully, this bottom will hold through this credit crunch the last 2 months and the slower winter months. For the last year Denver home prices are down 5% which makes us the 4th best large real estate market in the country according to Case-Shiller. Nationally, home prices in the 20 largest cities dropped 16%. … (0 comments)
denver: Our Foreclosure Rate Keeps Falling
- 10/23/08 08:16 AM
According to today's Realty Trac Report on foreclosure activity around the country, Realty Trac reported that both Colorado's and Denver's foreclosure activity have dropped for 2 quarters in a row! This is great news! In the third quarter foreclosure filings of all types dropped 11% from the 2nd quarter at the state level and in Denver foreclosure filings dropped 13% in the 3rd quarter! As of September 30th foreclosure filings in the state are down 31% from September 2007. In Denver the percentage of household units with a foreclosure notice dropped to .91% in the 3rd quarter. The highest in the … (3 comments)
I have read several stories in the last month from organizations like RealtyTrac and others that they estimate that banks own another 3 million homes nationwide that are NOT on the market to be sold yet. This inventory is called shadow inventory and is widely considered to be bad news. Why? This further supply of homes will drop real estate prices lower is the expectation or it will cause the housing recovery to be slower.But, let's look at the Denver market. Most "experts" think that banks own about 13,000 homes in shadow inventory currently in the Denver area. I would guess … (3 comments)
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