Denver Homes & Real Estate Resource

  Market Metrics:   The inventory of active listings at November month end hit a new low at 12,634 units, a decline of 11% month over month and 37% year over year.  Buyer demand continues steady at a seasonally adjusted rate for the holiday season.  Declining supply and steady demand could indicate that we are poised for firming prices in the next six months.     Monthly Market Recap:   Single Family: Condos: Active Inventory is 10,213 units at month end Active Inventory is 2,421 units at month end Sold units is 2,468 Sold units is 600 Average Days on… Read More »

If you thought you knew all the reasons why your Denver home has lost value, think again. As the Government continues to investigate the recent housing crisis, they have discovered something rather interesting. A report by the Federal Reserve Bank of New York shows that speculative real estate investors, commonly known as “house flippers,” may have had a larger impact than first thought in the housing bubble that helped create our current economic mess.   When down payments were low, house flippers used subprime credit and relaxed lending requirements to purchase multiple properties in Denver and throughout the country. More… Read More »

Denver homeowners remodel for many different reasons and justify the expense as an “investment” that will be returned when the house is sold. This, however, does not always come to pass, especially if you do an “over-the-top” remodel.   If you’re planning a Denver home renovation or addition, here are the six projects that generally have the lowest return on investment when the home is sold.   Home Office – Studies show that a home office remodel has the lowest resale value of any project. The average cost for this upgrade is $28,888, but only 45.8 percent of that figure… Read More »

You probably think that if you live in Denver or other areas of Colorado, you are safe from the threat of flooding.  After all, Denver gets very little rainfall annually and is 5,280 feet above sea level. Yet over 2000 people in Denver live on a flood plain, and the area has been hit with damaging floods in the past.   The truth is that Denver residents have a greater chance of losing their homes to a flood than to a fire. The Colorado Water Conservation Board states that over the span of a 30-year mortgage, there’s a 26 percent… Read More »

If you’re planning any sort of large financial transaction—such as refinancing or buying a home in the Denver area—be aware of your credit score. Higher credit scores can mean a better chance of getting approved for a loan as well as a lower interest rate.   Here are five things you can do to help bump up your credit scores and keep them working for you whether you live in Denver, Seattle, Boston or anywhere in-between.   1.    Get and Check Your Credit Report Scores – Specifically, you want to look for any accounts or late payments that are not… Read More »

Market Metrics:   In October, the unsold inventory of active listings in metro Denver hit a new low at 14,156 units, the second month in a row for setting a new low record.  As we are moving into new territory, there is steady demand by buyers and low inventory.  When one compares the Denver housing market to the nation, Denver continues to hold its own. When compared to October of last year, # of sales is about even, prices are about the same, while inventory is down 30% for single family homes and down 46% for condos/townhomes.  Since demand is… Read More »

If you’re a high-tech worker, Colorado is a very good place to live.  According to the recent Cyberstates 2011 report from the Tech America Foundation, Colorado has the third-highest concentration of high-tech workers in the country. There were 156,900 high-tech workers in Colorado in 2010, and the state’s high-tech payroll of $14.2 billion was 12th highest in the nation.   States were ranked in several different ways, including total number of high-tech employees, total number of high-tech firms, and total high-tech payroll. In 2010, Colorado had 87 high-tech workers per 1,000 private sector workers, giving it the number three ranking… Read More »

Interest rates are at record lows and home affordability is high. Yet many Denver home buyers and others across the country are waiting to buy a home, says a new survey by Move Inc.    Of the 1,000 American adults questioned, 27 percent said they would buy a home in two or more years but just 2 percent will buy in the next 12 months. Those that are dragging their feet say they’re doing so because of concerns about the future of home values, the economy, and problems saving for a down payment.   Credit issues also share the blame…. Read More »

The end of the third quarter for the Denver housing market reveals that both foreclosure filings and foreclosure sales have dropped markedly from this period in 2010. This is continued positive news for homeowners in Denver and the surrounding areas.   Foreclosure filings are the first step in the foreclosure process, ending with either a foreclosure sale or a homeowner settling with a lender to avoid the sale. The foreclosure sales data accounts for properties (mostly homes, but also some commercial properties and vacant land) that are bought back by lenders as well as those sold to third parties.  … Read More »

Most Denver home buyers know at least the general aspects of buying real estate. But according to a recent Zillow survey of 1,000 potential home buyers, there are still some areas that can confuse even the more savvy buyers.   Here are five myths to be aware of as you buy your home in Denver.     1.    In a normal real estate market, home values appreciate by 2 to 5 percent per year. Over the last 3 to 4 years many markets have depreciated. The Zillow survey showed that 42 percent of buyers believed the yearly increase was 7… Read More »