You are currently browsing the monthly archive for September 2010.

Coldwell Banker just released its annual Home Listing Report which analyzes home prices around the country.  We had a great story on Fox Business News.  Be sure to watch it by clicking here.  And, when you’re ready, visit ColdwellBanker.com to view the entire online portfolio of homes around the country.

Sunday, September 12- Prep Day and Overnight in Colorado Springs:

The trucks and support vehicles were loaded in South Denver/Denver Tech Center Sunday afternoon in nice weather– thank goodness.  The moving truck, donated and sponsored by Jeff Moshea and Buehler Moving Company did a superb job of moving bikes and gear to Colorado Springs.  In past years, bikes and gear have been moved on three different occasions. This year, the ride will proceed with no pick ups or drop offs the entire way.  Hence over 321 miles of continuous miles over five days – all to fight and raise money for the American Cancer Society.  A big thank you to the Colorado Springs hotel sponsor, Marriott TownPlace Suites and Sage Hospitality. After a final carbo-load dinner at Ruby Tuesdays provided and sponsored by Coldwell Banker Home Loans.

It was back to the hotel to walk through the ride route for day one (support stations, safety tips, etc) while indulging in the finest wine and Ben & Jerry’s ice cream.  The perks of burning thousands of calories over 321 miles, right? Check out this year’s brand new team uniform ,otherwise known as the full “kit”, featuring each of the ride’s generous sponsors and assembled by Curve.

A quick note about this year’s ride and fundraising efforts; in addition to the number of Partners and Sponsors (CLICK HERE) to view sponsors, there are nineteen dedicated riders (CLICK HERE to meet each rider/team representing each Coldwell Banker office along the Front Range) plus a number of additional day riders raising money, awareness and having fun riding bikes to fight Cancer.  Each rider is a sponsored rider committed to raising money on behalf and with the help of their office for the American Cancer Society.  Select the team/rider of choice to make an online donation.

  

  

Day One: Monday, September 13- Three legs and 70.03 Miles!

Colorado Springs

The weather was nothing short of perfect.  Big blue skies, bright sunshine and a comfortable 60 degrees never looked or felt so good in Colorado Springs after the previous years of rain, wind and frigid temperatures. Arriving to a thunderous welcome and hearty breakfast on behalf of the Colorado Springs team and sponsored rider Camellia Coray was great!  Breakfast was provided by the agents and they did a fantastic job with quite a spread and their fundraising efforts with auction items were very prosperous.  They are taking online donations all month long for Cancer or by check for rider Camellia Coray.  The ride departed from Colorado Springs under perfect riding conditions, although it wouldn’t be long before the temperatures (forecasted to hit the high 80’s) were sure to heat up, as the ride headed north on Highway 83.  There was a welcomed 10 mph tail wind out of the south to help push northward plus a spectacular stampede of horses that ran alongside as we approached Parker.  Nice job Andy, Paty and the entire Colorado Springs team!!

 

Parker

Welcomed, along with Parker’s sponsored rider Dawn Atchison, by the Parker team doing their rendition of the “wave” which was hilarious and festive all together.  Once again, they put on the best chili cook-off ever to help raise money to fight Cancer.  Dawn (with her snazzy new bike) and the whole Parker office team were amazing!!  Nice job Andy, Tina and the entire Parker Team – thank you for your hospitality! 

 

 

Finish Line to Day One at the Denver Tech/SE Metro Denver – 70.03 Total Miles!!

It was on to the SE Metro/Denver Tech Center sponsored by rider Scott Beville.  Riding up to the incredible balloon arch and a massive crowd of agents left no doubt of support.  Tammy Adducci and the entire SE Metro team put on a festive atmosphere to rival all others! A professional masseuse, ice cream treats compliments of Beth, Laurie and TownPlace Suites, plus a complete spread of tasty sandwiches, succulent watermelon and fruits topped by only the finest cakes, cookies and deserts for any team of cyclists to enjoy.  Nice job to both Tammy and Tammy, Scott Beville and the SE Metro team!!

Day 2: Tuesday, September 14- Denver Tech Center, Greenwood Village to Highlands Ranch

Tuesday began with another classic Colorado day – blue bird skies and not a cloud with temps in the low 60’s for starters and with high temps forecasted to reach the low 90s.  After a morning visit to Starbucks there was a quick briefing with support/scooter rider Ashley, Kimberly, and the entire team of core riders for the day and off from the Denver Tech Center in Greenwood Village. Destination  Highlands Ranch for one terrific brunch presented by the entire SW Metro/Highlands Ranch team and sponsored rider Todd Moir.  A nice gathering and great fun was had by all!  Thank you Glenda, Lori and the SW Metro team for putting on a great event. 

 

Highlands Ranch to Denver West/Lakewood

From Highlands Ranch the ride rolled on to Denver West/Lakewood along the South Platte River to Bear Creek Trail…what a hot day!  From the Bear Creek Trail it was north along Kipling and a very nice uphill climb into Lakewood.  The climb into Lakewood was a slight teaser for the 3554’ vertical rise into Evergreen still lurking in the distance following the stop in Lakewood. Another thunderous roar of supporters and onlookers while arriving at the Denver West/Lakewood office, supporting riders Keith Everitt and Kathy MacLeod.  Bridget Slevin was missed for sure.  Nice job everyone!

 

Lakewood to Evergreen

From left to right above are: Carrie, Dawn, Anne, Marcee, Josette, Kathy and Camellia. 

 

Lakewood West to Evergreen went up and over Dinosaur Ridge which was very cool to see (those aren’t painted on fossil prints – they are the real deal!). 

Definitely worth checking out.   The descent down the backside of the ridge, into Red Rocks, and through Morrison was spectacular including the canyon to Evergreen – thank goodness for the greatly needed and highly welcomed cloud cover!!

The Dudes from left to right above are: Christian, Chris, Scott, Thomas, Todd, Dave and Keith. 

Finish Line for Day Two into Evergreen, Colorado: Total Miles – 62.92 Miles!

Arrival into Evergreen was fantastic with an out-of-this-world pig pickin’ pic-a-nic plus iced down, cold beers and a table masseuse. It was quite the way to cap off two great days of raising awareness and funds for the American Cancer Society.  David, Sarah and the Evergreen team were truly amazing and great hosts to the end of a great day two.  Nice job all!

 

Aside from the much appreciated hard work, long miles and of course fun times… gratitude for the magnitude of support and creativity we’ve seen along the way plus all the generous contributions thus far cannot  be properly conveyed.  The fundraising goal is insight… CLICK HERE to make a secured, online donation for a little (or a lot) to the team as a whole or the individual/teamof interest.  checks made payable to Coldwell Banker Community Foundation are also accepted and can be mailed to Coldwell Banker Community Foundation, 600 Grant Street, Suite 925, Denver, CO 80203.  Every penny will support the American Cancer Society.  Be sure to include the team/rider name on the check memo line.

Day 3: Wednesday, September 15 – Evergreen>Genesee>Lookout Mountain>Golden>Boulder – 52.00 miles 

Another spectacular start to the day as the ride pushed out of Evergreen led by Evergreen sponsored riders Josette Montgomery and Dave Freyer however not before indulging in breakfast burritos provided by sponsor Guardian Title.  On this day there are several additional riders from Boulder and Fort Collins to join making for an even larger peloton which is ideal for the 30-40mph winds encountered – plus it was hot!

The annual signature day for Ride the Range takes us over the Genesee exit bridge followed by up and over Lookout Mountain.

Boulder sponsored riders Clint , Pete, Brian, Dave, Pete and Kevin arrived to their sidewalk Oktoberfest.  Thanks to Kim Junior and her family owned business, Boulder Old Style Sausage Company for the best Brat’s on the planet.  Everyone in Boulder did well on the ride and are enthusiastically taking donations still to meet their fundraising goal as a team (feel free to visit the Boulder profile and give them a bit of a boost).

Day 4: Thursday, September 16- Boulder> Hygine > Longmont > Fort Collins – 54.55 miles

Another perfect day in Colorado for Riding the Range for charity and Thursday was a “recovery” ride day from Boulder to Fort Collins with light winds and cooler temps (thank goodness).  After enjoying another great breakfast compliments of Guardian Title the ride pushed off for Longmont.  There isdefinitely no shortage of food along the way, that’s for sure!

Several new riders were added (with fresh legs) to help pull through day four and another 54+ miles as the ride continued northward to Longmont and Fort Collins.  The new riders joining included Marnie, Francie, Steve, Sue and Mike of Fort Collins plus Christian with Longmont/Loveland and special guest Tara.

Arrival in Longmont for sponsored rider Christian Anderson and his Longmont/Loveland team was another grand reception and… more food!!  Christian and his team are raising money to benefit Homes for Our Troops.  To learn more visit http://www.homesforourtroops.org/site/PageServer  or to make a donation specifically towards Christian and his team click here http://www.events.org/CBRBCOL1/sponsorship.aspx?id=23393

From Longmont it was onward to Fort Collins for another stellar Mexican style reception complete with Margarita, Coronas and jell-o shot libations!

Nearly done with the ride but still in full fundraising mode to reach this year’s goal for the American Cancer Society.  Please CLICK HERE to make a secured, online donation even if it is only five-bucks ($5).  Checks can be made payable to Coldwell Banker Community Foundation and sent to the Home Office at 600 Grant Street, Suite 925, Denver, CO 80203.  Every penny will support the American Cancer Society.  Be sure to include the team/rider name on the check memo line.

Ride the Range FINAL DAY!September 18, 2010 in Uncategorized (Edit) 

Here’s the finale of the 2010 CB Ride the Range charity bike ride.  This annual fundraiser right here in Colorado simply would not be possible without the support of so many.  Including and especially our sponsors and support crew.  A special thanks goes out to the SAG wagon vans sponsored by Enterprise Rental and drivers Kris Anderson and Kevin Risen, scooter riders Kimberly Dolan, Ashley Lenihan and Ryan Gonzales.  Comfort station (potty wagon) sponsored by CB Home Warranty and drivers John Herman and Michelle O’Toole plus everyone behind the scenes but especially Kep Winters and Shannon Crawford for keeping the daily intricacies and logistics moving smoothly.

It’s not too late to make a charitable donation to benefit the American Cancer Society.  Please click this link www.cbridetherange.com to make a secured, online donation or by check payable to Coldwell Banker Community Foundation sent to: Coldwell Banker Community Foundation, 600 Grant St, Suite 925. Denver, CO 80203.  Note: include the team or rider on the memo line to which the funds should be directed. In addition, there are jerseys ($75) or pairs of socks ($10) available and 100% will go directly to the ACS as well.   They make great gifts!! 

Here is the update and photos for the fifth and final day:

Day 5: Friday, September 17- Fort Collins > Loveland > Longmont > Erie > Westminster > Cherry Creek > Denver – 83 miles

Congratulations and Thanks!!

 

The views coming across the high plains between Fort Collins and Longmont are spectacular and the weather couldn’t have been better.  Cool temps and no wind in fact, there might have actually been a tail wind which was nice for a change on this 83 mile ride south to Denver to conclude the 321+ mile journey.

The store manger of a Walgreens was thrilled that the ride made an unexpected stop at her store.  So much so she wanted to take our team photo to feature in their corporate newsletter called Walgreens Global.  This is one of many marketing and PR examples encountered over the road that is simply priceless and money can’t buy.  In fact, there were an unprecedented number of inquiries asking who, why, and to benefit whom, etc. along with countless friendly waves, high fives, honking cars, great comments and well-wishes.  Coldwell Banker stood out and everyone involved should be very proud of our collective community outreach.

The North Metro Denver team sponsoring rider Thomas Dutzer went above and beyond anything ever seen over the years of this event.  They hosted a huge community wide block party in the Country Club Village retail center and everyone was invited.  Tons of people, live music… they definitely pulled out all the stops on this one which is a perfect example of how this charity ride is designed to reach well into our local communities.  Nice job to Sally Scaman, (agent) Jim DeSteiguer and the entire North Metro Team!!

 

The Denver skyline after 300 miles in the saddle never looked so good as we made our final approach south on Huron.

 

Our arrival into the Devonshire office included a tremendous, thunderous roar of cheers from a huge group of Devonshire agents, clients and friends.  In true Devonshire fashion, in the heart of Cherry Creek, they hosted quite the champagne reception for sponsored rider Carrie Wernecke (a.k.a The Ultimate Cycling Diva).  Great fun was had and lots of money was raised.   Nice job Jill Croteau, Shyla Rogers and the entire Devonshire team.  You were truly divine! 

 

The final left took the ride back up the Cherry Creek bike trail to cap off all 321+ miles of cycling for the American Cancer Society and the Denver Central team put on a great grand finale to honor sponsored rider Chris Mygatt at the Governor’s Park Tavern in heart of Denver.  Nice job Jason Peck, Sarah Shelly and the entire Denver Central team.

 

We are nearly to the total fundraising goal and are confident, thanks to everyone’s generosity, to attain 100% of the $35,000 goal.  Please CLICK HERE to make a secured, online donation for as little (even just five dollars) or as much as desired.  Anything will go a long way to help the fight against Cancer which will most likely affect everyone at some point in time.   Please forward this post to friends and family to make them aware of CB efforts and help reach the fund-raising goal.  Checks can be made payable to Coldwell Banker Community Fund and send it to: Coldwell Banker Community Fund, Attn: Ride the Range, 600 Grant St, Suite 925.  Denver, CO 80203

On behalf of everyone on the team, thank you in advance for your help and generous support. Making a difference right here in Colorado!!

 

This article needed sharing.  This piece is from WallStreetJournal.com entitled “10 Reasons to Buy a Home.”  It is awesome and exactly what the focus of several blog posts has been. 

Essentially what the reporter says is enough is enough with the doom and gloom – if the numbers work for and financing constraints or other challenges aren’t limiting  – now truly is a great time to buy a house.

The reporter was inspired by a Time Magazine article which stated on its cover “Why owning a home may no longer make economic sense.”  What the WSJ reporter candidly points out is, Time Magazine was the same publication five years ago to run a story that said “We’re Going Gaga Over Real Estate.” 

Finally, here’s an article, and a publication for that matter, that is focused less on sensationalizing the real estate market and instead focusing on many of its benefits and how consumers can take advantage of today’s interest rates, inventory and, of course, the overall benefits of homeownership.

Enough with the doom and gloom.  People shouldn’t be scared of buying a home.  If the math works, it’s probably a very good time to buy a home.  Be sure to view the reporter’s in-person interview shortly after the article was released.  It’s a good one.

Now, take a look at this week in real estate:

  • Colorado Springs – Showings have declined over the past few weeks and with the start of school and the holiday sales have also declined.  The low interest rates (4.25%) have kept some buyers in the market.  Listings have been steady but most listings turn out to be short sales.  Since our Agents are trained to deal with the short sale process, it’s ok.
  • Conifer – Three new listings for the month to date in September, including a horse property listed @ $8,750,000.  One listing went under contract so far in September with one buyer put under contract.  There have been a total of  42 showings and 1 preview for the month to date.  Showing activity is primarily in the mid $200,000 to $400,000 range.
  • Denver Central – Inventory continues to increase in the Denver Metro area and is just below 2008 levels but has increased 20% over 2009.  Inventory is still well below 2007 levels, when it was at its peak.  Home appreciation continues in the Denver metro area but that could be attributable to the recent tax credit.  The average sales price in August was $269,000 for the Denver Metro area.  Appreciation could tail off in the coming months with inventory increases.  Under contracts seem to have stabilized from the drop after the tax credit deadline.  The market is very neighborhood specific so it is important to be working with a professional that can educate and give the proper advice to make the right real estate decisions. Over 50% of the home sales in the Denver metro area continue to be under $250,000.  There are improvements in the higher-end market & sales have increased.  There was a 48% increase in the million plus home market in August 2010 vs 2009.
  • Devonshire – Moving into fall and hoping for the after Labor Day surge that has been seen in recent years.  The showings at this time are not showing this momentum and we hope that a “short” week wis the justification.  Sellers are encouraged to allow open houses because consumers still like to walk through homes and get a true sense of the home itself as well as the neighborhood where the home is located.  Buyers still seem to be on the fence & may be waiting for that ultimate interest rate drop.  With economic indicators, like consumer spending being released this week, there’s an anxiousness for good news & hope that this news will help to get the real estate market moving in a great direction into the fourth quarter of the year.
  • Evergreen – There have been a total of six new listings so far in September with three listings under contract and five buyers put under contract. There have been a total of 111 showings and six previews so far in the month which is a decrease from August activity.  Selling activity was predominately in the mid $300,000 to $500,000 range.
  • Parker – Saels and showings have been steady and with interest rates still at an all time low (4.25%) sales should remain steady or increase throughout the remainder of the year.  Listings are up with 80% being real listings and not short sales.  That is very good news for buyers who need to close quickly as short sale listings can take 4 to 6 months to close.
  • SE Metro at DTC – “The Fall Flurry” of activity is up and running!  The SE Metro office is seeing increased activity in showings & contracts after the Labor Day weekend.  Open house activity has also increased & several buyers visiting our listings are unattended & ready to buy.  Although the Denver market reported a significant decrease in closings in August 2010 compared to August 2009, the SE Metro office posted a difference of only 5 closings for the same time frame.  A combination of pricing & condition for many listings continue to be the driving force for the buyers.  The average number of showings before a property is under contract continues to hold steady at 20. Homes listed above $300,000 are seeing the most activity and in several instances, multiple offers.  Homes listed at $200,000 & below do not have the activity reported in June and July. The luxury home market is enjoying a steady stream of activity & over 50% of those listings are currently under contract.
  • SW Metro – Showings are still down compared to this time last year.  There are more showings Monday through Friday compared to Saturdays and Sundays.  Open houses have been great in some areas & slow in others.  Buyers are still out there but they are taking their time to purchase.  There’s been an increase in investors starting to look & making offers on properties.  Most sellers are realistic in pricing their home however there are some who still think if they wait a year or two they can “get more money.”  It is important to educate sellers that this is not the case.  Interest rates are great !
  • Denver West – Numbers for listings, under contracts and showings have all slowed down.  Of course, take into account that we had a long Labor Day weekend that may have affected things.  August numbers are more like a September, and September will be more like October this year.

For many people, owning a home marks a significant step on the path to achieving the “American Dream.”  While the dream of homeownership has remained constant for countless generations, the profiles of home buyers, as well as the types of homes they are searching for, are ever-changing.   In fact, according to a recent Coldwell Banker Real Estate LLC survey, 37 percent of agents noted an increase in home buyers looking to purchase homes to accommodate more than one generation of their family.  These include homes with “mother-in-law suites,” garage apartments, refurbished basements, or other separate living areas.

Whether they are driven by financial reasons, health care concerns, a strong family bond or the desire to own a home that meets potential future needs, families who are looking to purchase a home with space for multiple generations can often find the process a bit overwhelming, especially if they have not lived together previously.  But, there are a few simple ways to limit stress and avoid damaging family ties.

  • Determine your exact needs.  Every family has their own specific needs when it comes to buying a multi-generational home.  Some may just want an extra bedroom or two for family members, while others will require areas with a separate kitchen, entrance, handicap accessibility or even a larger garage for additional cars.  Desired location may also be influenced by proximity to local hospitals, senior centers or schools.  A multi-generational family should determine their exact requirements before beginning the search.  Once the list of essentials is finalized, it’s best to contact a real estate professional who can determine if the expectations are realistic given the homes currently on the market.
  •  Be prepared to compromise.  With several family members weighing in on their home-related preferences, there’s bound to be a few differences of opinion.  Looking beyond the necessities like the home’s layout and size, there may be disagreements on things like style, date of construction and overall feel.  The more people involved in the decision making process, the more difficult it may be to agree on all of the features of a future home, so multi-generational home buyers should be prepared to compromise. 
  • Speak with a real estate professional.  A family who is purchasing a home with the intent to create separate living areas should speak with a local real estate agent who can advise them on how to inquire about city ordinances and zoning and building codes before closing the deal.  There may be laws or regulations in place that could prevent the buyer from turning the home into a multifamily unit or adding on to an existing property. And, while buyers may not plan to charge their family members rent each month, they should also research local laws and rent restrictions on second units that could prevent them from legally renting out or inhabiting a second dwelling down the road.

As Colorado’s leading real estate company, Coldwell Banker will host its annual “Ride the Range” charity bike ride on September 13-17, 2010.  The event is held in conjunction with the company’s September cancer awareness month and will benefit the American Cancer Society.  Participants will enjoy 12 stages encompassing 316 miles through nine Colorado counties over five days of riding.

“It’s time to gear up for what may be our best Ride the Range cycling tour and fundraising event ever,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado.  It’s spectacular and challenging, and the funds raised will benefit a great cause.  Each stage of the ride will begin and end at a Coldwell Banker Residential Brokerage office along the Front Range and throughout metro Denver.  Ride the Range also presents a great opportunity for the media to cover this annual event.” 

 Stage one of the ride covers 68 miles from Colorado Springs to Parker, while stage two covers 64 miles from Highlands Ranch to Evergreen.  Stage three departs from Evergreen with riders proceeding to Boulder where they will spend the night.  Stage four starts in Boulder and ends in Fort Collins.  The following morning, riders will depart from Fort Collins and proceed to Coldwell Banker Residential Brokerage offices in Denver.  All 14 Coldwell Banker Residential Brokerage offices will be visited during the ride. 

Each Coldwell Banker Residential Brokerage office will have one core rider who they will help raise $1,500 and $500 for each additional rider. This year’s fundraising goal is at least $40,000 which will go directly to the American Cancer Society.  If you would like to join the company in its fight against cancer and support the American Cancer Society, please consider a charitable contribution.  Each donation of at least $200 or more will receive a limited edition Ride the Range cycling team kit (jersey and bib shorts) or Coldwell Banker golf jersey whiles supplies last on a first come basis.   Details are available online at cbridetherange.com.

Figures released today by the National Association of Realtors are a good indicator that the market continues to improve – though at very modest levels.  For months the market has been, in this post recessionary period, improving with minor bumps in the road along the way.

Last month’s lower than expected sales figures were just that, a bump in the road.  The slip is partly due to seasonality and partly due to the expiration of the tax credit.

Now, one month later, numbers are on the rise.  According to the National Association of Realtors’ Pending Home Sales Index, pending home sales rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June. 

According to Lawrence Yun, NAR chief economist, “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said.  “But the recovery looks to be a long process.  Home buyers over the past year got a great deal and buyers for the balance of this year have an edge over sellers.  For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.” 

Now of course this is a national perspective and real estate is local.  Locally there are some pockets of strength.  Some of the most sought after neighborhoods continue to see strong sales while those that may be challenged due to proximity to jobs and commerce, are seeing bigger lags. 

Overall buyers want to take advantage of the low interest rates and realize that thanks to those rates, they have particularly higher purchasing power right now.  From a move-up buyer perspective, a lot of sellers may consider selling right now.  Yes, they realize they may take a hit from the flurry days of the early part of the decade but when they compare it to what they can purchase on the move-up side and what their monthly payment will be, they truly see a benefit.  These indicators are really helping to drive the market right now.

The bottom line is, the path to recovery lies ahead.  Bankrate revealed numbers that provided a good look at consumer confidence. An overwhelming 90 percent of homeowners say they don’t regret buying their current home.  That is even in the face of stagnant – or sliding – home prices home owners have suffered.  It is comforting to see this number because regardless of where market conditions currently are, consumers continue to understand that real estate is a good, long term investment. 

Now, here is the outlook from local Coldwell Banker offices:

  • Boulder—New listings are up almost 12%, but sales activity is down almost 10%.  It looks as though there is an excess of properties and not as many buyers for them.  This is very noticeable in the amount of showings.  Showings are down over 20%.  This means that the market is saturated with homes for sale but the demand for these properties has dropped off in this period.  The showings reflect the sales activity in this case.
  • Colorado Springs—Sales have been increasing for the past few weeks as buyers are taking advantage of low interest rates (under 5%).  Listings have also been increasing as sellers know that if they can get their homes sold they can become buyers & take advantage of low rates & move up to a larger home.  Overall, showings are down about 35% from last week.
  • Conifer—There were three new listings in the Conifer office for the month of August. We also had three listings go under contract in August with five buyers put under contract.  A total of 117 showings and 5 previews for the month reflects a 60% improvement from the prior month.  Our showing activity is primarily in the mid-$200,000 to $400,000 range.
  • Denver Central—Inventory continues to increase in the Denver Metro area and is just below 2008 levels but has increased 20% over 2009.  Inventory is still well below 2007 levels when it was at it’s peak.  We continue to see home appreciation in the Denver metro area but that could be attributable to the recent tax credit.  We could see appreciation tail off in the coming months with inventory increases.  Under contracts seem to have stabilized after the drop that we had after the tax credit deadline. The market is very neighborhood specific so it is important to be working with a professional that can educate & give you the proper advice to make the correct real estate decisions.  Over 50% of the home sales in the Denver metro area continue to be under $250,000.  If you’re looking to sell a home that is priced under $300,000, this is a great time.  We’re seeing improvement in the higher-end market & sales have increased.  This is definitely a great market to move up to a higher priced home.
  • Denver West—Denver West has enjoyed closings in the $600,000, the $700,000 and even the $800,000 sales point. Many buyers are motivated & are taking advantage of these low interest rates. We’re experiencing many sellers buying up, yet renting out their current home since they can’t achieve the price they want. We’re also seeing a high desire to rent from former homeowners who lost their homes through short sales & foreclosures.
  • Devonshire—Here we are at the end of summer & it seems that many people are out enjoying the last days before all of the fall activities get into full gear.  We can feel the angst in our buyers as they are struggling with proceeding to find that new home and take advantage of the wonderful low interest rates.  Inventory in some price points is slim. It seems that many buyers have decided to hold on until they feel that the economy is a little more stable.  A bright light seems to be in the upper price points where we have had more activity and actual closings than in the last few months.  We had the highest sale in the metro office in 2010, in the Devonshire office & we’re proud of Kelly Westergren for representing the buyer on that transaction.  Fall is historically a good time of year for us and we’re looking forward with excitement to see all the successes that fall will bring.
  • Evergreen—We had a total of 19 new listings in August, with 9 listings under contract and 7 buyers put under contract.  Both are very similar to our July totals.  There was a total of 320 showings and 24 previews in the month which is a 30% improvement over July activity but still 7% below levels from Aug 2009.  Selling activity was predominately in the mid-$300,000 to $500,000 range.
  • Longmont—Showings are holding very steady.  Homes being shown are still in a wide range of price points.  Move up buyers are in our market looking.  Financing is still an issue for buyers. Self employed buyers are having difficulties securing loans.  New homes in all price ranges are coming on the market & sellers are realizing that keeping their homes on the market longer will be necessary.
  • North Metro—Fall is in the air, the kids are back in school and now is the perfect time to purchase a home.  We are seeing increased activity at Open Houses and in the number of floor calls coming to our office.  The average sales price has increased to $275,000 for homes sold.  We have 73 new homes listed this month as compared to 70 for last month and we’ve helped buyers and sellers close on 74 properties.
  • Parker—Our listings and showings are down from the past week as families return from vacations.  Our market is still strong with buyers as the low interest rates (under 5%) make it likely that this trend will continue for a while.
  • Southwest Metro—Showings have been steady but they’re still significantly down from June of this year as well as this time last year.  The buyer pool is waiting and we do not understand what they are waiting for as the interest rates are so great. We’re seeing good activity in homes over $300,000 & less activity in those below that amount. The first time buyers are not moving but are waiting.  Sellers are still ready to list their properties but are not realistic as to the value.  Everyone seems to be in a holding pattern waiting to see what is going to happen.  We’re sending out newsletters showing that this is a great time to finance a home.  Open houses have been good & a couple of agents did have several good buyer leads in the past two weeks.

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