If you or someone you know is thinking about buying or selling real estate any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying and/or selling real estate. Referrals are the core of my business!
Welcome to the August edition of the 2010 Denver Real Estate Market Newsletter. The purpose of this newsletter is to keep you informed of Denver’s real estate market.
.
Another Personal Real Estate Accomplishment
Once again I’d like to thank all of my clients and friends who have referred business my way in helping me to reach one of my top goals; to be the Top Producing Individual Agent in my office for the month of July. Without your business and support it would have been impossible for me to have achieved this goal and to have sold nearly $1,500,000 of real estate in July alone!
.
All New Parade of Homes
The 2010 Denver Parade of Homes in now underway! Visit 55 homes throughout the metro area for FREE! Hours are from 11:00 a.m. to 6:00 p.m. daily. Go to www.ParadeofHomesDenver.com to plan your tour!
.
Interest Rate Drops Once Again!
Thank you to my wife Jenny for assisting me each month in preparing this newsletter. Each month, during her review, she asks me the same question, ‘Why do you saying each month that interest rates have dropped to new historical lows’. Well, the reality is that mortgage rates continue to drop due to elevated unemployment and modest consumer confidence levels. Here is a real life examples of today’s low rates. Yesterday, one of my clients purchased a home with a 15 year fixed rate morgage at 3.875%. If you’d like more information about the benefits of purchasing a home at today’s ‘Historically Low’ rates please call me.
.
TIDBITS
Insightful Quotes
“Everyone wants to be appreciated, so if you appreciate someone, don’t keep it a secret.” (Mary Kay Ash, 1915-2001, Founder of Mary Kay Cosmetics)
“I don’t know the key to success, but the key to failure is trying to please everybody.” (Bill Cosby, Comedian, Actor and Author)
“Smile to yourself and then pass it on to someone else! Repeat Often.” (Tony Griffin, Mentor and Friend)
.
My Favorite iPhone App: AroundMe
This free app allows you to quickly find the closest Gas Station, Restaurant, Bank, etc, AroundMe shows you a complete list of all businesses in the category you have selected along with the distance from where you are.
.
My Favorite Real Estate Web Site
www.Houselogic.com
This National Association of Realtors consumer website provides information about your home; everything from upkeep of the property, how to keep tax records, projects under $500 and more.
www.KnowYourOptions.com
Fannie Mae has launched KnowYourOptions.com, a new consumer education Web site that outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions.
DENVER REAL ESTATE MARKET TRENDS
Year-over-year Charts
Residential (use the scroll bar on the right side of the chart to view all four graphs)
Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs)
| July 2010 | % CHANGE vs Prior Month | % CHANGE vs Year Ago | |
|---|---|---|---|
| SINGLE FAMILY (Residential and Condo) | |||
| Homes for sale | 23,450 | 3.35 | 12.25 |
| Homes under contract | 3,808 | -1.98 | -27.96 |
| Homes Sold | 3,259 | -19.45 | -26.60 |
| Average days on market | 86 | 4.55 | -14.58 |
| Average Sold Price | $269,704 | -1.39 | 6.72 |
| RESIDENTIAL | |||
| Homes for sale | 17,983 | 3.73 | 13.60 |
| Homes under contract | 3,050 | -3.54 | -27.35 |
| Homes Sold | 2,632 | -18.44 | -24.45 |
| Average days on market | 84 | 3.70 | -14.29 |
| Average Sold Price | $297,218 | -0.72 | 7.43 |
| CONDOMINIUM | |||
| Homes for sale | 5,467 | 2.15 | 8.04 |
| Homes under contract | 758 | 4.84 | -30.33 |
| Homes sold | 627 | -23.44 | -34.41 |
| Average days on market | 93 | 6.90 | -14.68 |
| Average sold price | $154,209 | -20.13 | -6.84 |
Real Estate News
Fewer U.S. homeowners have ‘underwater mortgages’ Read More
Denver-area home resales down in July from 2009, but prices up Read More
New Zoning Code for Denver! The Denver City Council unanimously adopted a comprehensive update to the Zoning Code. Go to www.newcodedenver.org to learn more.
.
Mortgage News
Colorado has nation’s 12th-lowest mortgage closing costs Read More
Denver, Freddie Mac partner to promote home ownership Read More
Colorado foreclosure filings down 9.3% from 2009; down 8.6% in Denver Read More
Federal Housing Administration (FHA) Changes Effective October 4th:
Congress has passed FHA reform that will institute new Mortgage Insurance (MI) rules. With all FHA loans, the borrower pays Up Front Mortgage Insurance Premium as well as the monthly premium that is included in their monthly house payment. The Up Front MI premium will be reduced from 2.25% to 1% of the purchase price. That’s the good news. The bad news is that the monthly MI premium will increase to .9% from the current .55%. The net effect is that the borrows monthly payment will increase $48 on the purchase of a $300,000 home.
...
Economic News
U.S. unemployment holds at 9.5% Read More
Denver-area consumer prices rise 1.7% from 2009 Read More
Colorado region’s manufacturing rebounds in July Read More
.
Other News
Denver Broncos are World’s 14th Most Valuable Sports Team Read More
CU-Boulder Team to Study Gulf of Mexico Spill Chemicals Read More
DIA unveils design for South Terminal expansion Read More
DIA fares drop 36% over last 10 years Read More
Denver is 11th best city for job seekers Read More
11 Colorado schools on Forbes’ 2010 ‘America’s Best Colleges’ list Read More
FasTracks announces ground breaking for the east rail line to DIA Read More
Colorado Rockies’ new spring-training home reflects tribal culture Read More
Xcel proposes coal-power cutbacks in Denver, Boulder, elsewhere Read More
Five Colorado Cities on Money’s ‘Best Places to Live’ List Read More
Parties settle issues in Landmark bankruptcy case Read More
.
Thank you again for your business and referrals.
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home.
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!
Would you like to get an up-to-the minute report of homes sold and homes currently available in your neighborhood? Go to www.MetroDenverRealty.com and click on the Market Snapshot link.
Please call with any questions or comments. It would be my pleasure to assist you with all of your real estate needs.
Please feel free to contact me anytime with real estate questions you may have. Also, if you know someone who is thinking about buying or selling a home, please call to let me know. Referrals are the core of my business and are always appreciated.
Welcome to the July edition of the 2010 Denver Real Estate Market Newsletter. The purpose of this newsletter is to keep you informed of Denver’s real estate market.
IT’S OFFICIAL! I’m now a Certified Residential Specialist
On June 30th, I joined the ranks of the Certified Residential Specialist. As a CRS Designee I look forward to being the best in the business, someone with proven experience, and skills to make the home buying or selling experience much smoother and satisfying for all of my clients. View my CRS profile using this link.
Interest Rate Drops Result in a 12% Increase in Home Affordability!
Interest rates have continued their downward trend over the last several months to new historic lows, actually decreasing by nearly 1% since 2009. What does that mean for you? A 12% increase in affordability! And what can you do with an extra 12%? Buy an extra 200 square feet of living space or a home with a knock-out view or move to that neighborhood you’ve always loved! Or better yet, enjoy a 12% saving in your monthly mortgage. Please call me to discuss how you may benefit from these historically low rates. They won’t last long!
.
HOW MUCH WILL I SAVE EACH MONTH IF I BUY NOW.....AT TODAY'S HISTORICALLY LOW RATES?
| Home Purchase Price | 2009 Interest Rate | 2009 P&I Monthly Payment | 2010 Interest Rate | 2010 P&I Monthly Payment | Monthly Savings | % Savings |
|---|---|---|---|---|---|---|
| $200,000 | 5.375% | $1,119.94 | 4.375% | $998.57 | $121.37 | 12% |
| $300,000 | 5.375% | $1,679.91 | 4.375% | $1,497.86 | $182.05 | 12% |
| $400,000 | 5.375% | $2,239.88 | 4.375% | $1,997.14 | $242.74 | 12% |
| $500,000 | 6.875% | $3,284.64 | 5.375% | $2,799.86 | $484.78 | 17% |
| $600,000 | 6.875% | $3,941.57 | 5.375% | $3,359.83 | $581.74 | 17% |
| $700,000 | 6.875% | $4,598.5 | 5.375% | $3,919.8 | $678.70 | 17% |
| $800,000 | 6.875% | $5,255.43 | 5.375% | $4,479.77 | $775.66 | 17% |
.
HOW MUCH MORE PURCHASING POWER DO I HAVE IF I BUY NOW..... AT TODAY'S HISTORICALLY LOW RATES?
| Initial Purchase Price | 2009 Interest Rate | 2010 Interest Rate | % Change in Rate | Increased Purchasing Power | Total Purchase Power | % Increase in Purchasing Power |
|---|---|---|---|---|---|---|
| $200,000 | 5.375% | 4.375% | -1.0% | $24,309.14 | $224,309.14 | 12% |
| $300,000 | 5.375% | 4.375% | -1.0% | $36,462.97 | $336,462.97 | 12% |
| $400,000 | 5.375% | 4.375% | -1.0% | $48,617.29 | $448,617.29 | 12% |
| $500,000 | 6.875% | 5.375% | -1.5% | $86,572.98 | $586,572.98 | 17% |
| $600,000 | 6.875% | 5.375% | -1.5% | $103,887.94 | $703,887.94 | 17% |
| $700,000 | 6.875% | 5.375% | -1.5% | $121,202.89 | $821,202.89 | 17% |
| $800,000 | 6.875% | 5.375% | -1.5% | $138,517.84 | $938,517.84 | 17% |
.
The chart below shows the 30 Year Fixed Mortgage Rates from January 1971 to June 2010.
Note: Interest rates as of July 9, 2010 with a minimum FICA score of 720.
TIDBITS
Insightful Quotes
“Whenever encountering a troublesome person, do not identify him as being cruel or stupid or rude or anything else like that. Instead, see him as a frightened person.” (Vernon Howard, 1918-1992, Author and Philosopher)
“If you keep on saying things are going to be bad, you have a good chance of being a prophet.” (Isaac Bashevis Singer, 1904-1991, Journalist and Writer)
“Successful people decide how they are going to live; they are not victims of circumstance. In good times or bad times, they know where they are going and they know that they are going to get there.” (Bob Proctor, Author and Speaker)
“It is good to have money and the things that money can buy, but it’s good too, to check up once in a while and make sure you haven’t lost the things money can’t buy.” (George Lorimer, 1867-1937, Editor of Saturday Evening Post)
.
Meet Two of the Greatest Athletes You’ve Never Heard Of
Watch and be amazed! I sure was.
Damien Walters – Freestyle Running and Gymnast
Danny MacAskill – Free Style Cyclist
DENVER REAL ESTATE MARKET TRENDS
Year-over-year Charts
Residential (use the scroll bar on the right side of the chart to view all four graphs)
.
Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs)
June 2010 Real Estate Market Trends
June 2010 % CHANGE vs Prior Month % CHANGE vs Year Ago
SINGLE FAMILY (Residential and Condo)
Homes for sale 22,689 5.86 8.80
Homes under contract 3,885 0.05 -31.41
Homes Sold 4,046 -7.31 -3.34
Average days on market 82 9.62 -17.93
Average Sold Price $273,511 10.23 5.83
RESIDENTIAL
Homes for sale 17,337 6.15 9.80
Homes under contract 3,162 0.73 -29.23
Homes Sold 3,227 -5.53 -3.03
Average days on market 81 8.00 -19.80
Average Sold Price $299,375 9.55 5.67
CONDOMINIUM
Homes for sale 5,352 4.94 5.71
Homes under contract 723 -2.82 -39.55
Homes sold 819 -13.70 -4.55
Average days on market 87 10.13 -10.31
Average sold price $171,600 8.91 5.97
Real Estate News
Denver-area luxury-home sales jump 62% Read More
New home sales dive 53% in West, 33% nationwide Read More
Denver home prices up 4.4% from 2009, Case-Shiller Index shows Read More
Denver council approves new city zoning code, 13-0 Read More
Parade of Homes lines up sponsors Read More
.
Economic News
Denver-area job declines lessening Read More
Colorado unemployment rate stays at 8% in May; 1,100 more working Read More
Colorado lost 62,600 jobs in 2000s Read More
U.S. loses 125,000 jobs in June; unemployment falls to 9.5% Read More
Foreclosure fillings in Colorado urban areas down 17.7% in May from 2009 Read More
Colorado personal income up for 3rd straight quarter Read More
Douglas tops nation for higher wages Read More
Consumer prices edge up in West Read More
Denver’s population grows 10.2% in 2000’s, to 610,345 Read More
.
Other News
Denver rated America’s 8th-best city for young professionals Read More
BP fined $5.2M over Colorado operations Read More
Molson Coors introduces Coors Light in Russia Read More
Cherry Creek Mall get 5 new stores Read More
Colorado the leanest state in the nation Read More
King Tut exhibition opens at Denver Art Museum Read More
Judge resentences Naccio to 5 years, 10 months in prison Read More
Building a burrito empire: Chipotle opens its 1,000th restaurant Read More
5 Colorado hospitals get top rankings for emergency care Read More
FBI moves into new building at Denver’s Stapleton Read More
Fluor-Macquarie consortium picked for $2B RTD FasTracks project Read More
29 Colorado high schools rated among nation’s best by Newsweek Read More
.
Thank you again for your business and referrals.
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home.
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!
Would you like to get an up-to-the minute report of homes sold and homes currently available in your neighborhood? Go to www.MetroDenverRealty.com and click on the Market Snapshot link.
Please call with any questions or comments. It would be my pleasure to assist you with all of your real estate needs.
Please feel free to contact me anytime with real estate questions you may have. Also, if you know someone who is thinking about buying or selling a home, please call to let me know. Referrals are the core of my business and are always appreciated.
Welcome to the June edition of the 2010 Denver Real Estate Market Newsletter. The purpose of this newsletter is to keep you informed of Denver’s real estate market.
CRS COMING SOON
This newsletter comes to you a few days later than usual. I spent the last week in Las Vegas completing the final three classes that I’ll need to earn my Certified Residential Specialist (CRS) Designation.
The CRS Designation is the highest professional designation awarded to REALTORS® in the residential sales field. Realtors who have earned this credential do so by completing extensive training and by demonstrating significant experience in managing real estate transactions. Less than 4 percent of Realtors working today have earned the CRS designation and they are among the most successful Realtors in real estate.
I look forward to ‘officially’ receiving my Designation and joining the ranks of the CRS elite.
TIDBITS
Insightful Quotes
“Maturity begins when we’re content to feel we’re right about something, without feeling the necessity to prove someone else is wrong.” (Sydney J. Harris, 1917-1986, Syndicated Columnist)
“You can conquer almost any fear if you will make up your mind to do so. For remember, fear doesn’t exist anywhere except in the mind.” (Dale Carnegie, 1888-1955, Author and Speaker)
“The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.” (Debbi Fields, Founder)
DENVER REAL ESTATE MARKET TRENDS
Year-over-year Charts
Residential (use the scroll bar on the right side of the chart to view all four graphs)
Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs)
May 2010 Real Estate Market Trends
May 2010 % CHANGE vs Prior Month % CHANGE vs Year Ago
SINGLE FAMILY (Residential and Condo)
Homes for sale 21,433 2.34 3.37
Homes under contract 3,883 -41.31 -27.33
Homes Sold 4,365 4.23 20.31
Average days on market 76 -5.16 -27.93
Average Sold Price $248,126 -0.99 2.10
RESIDENTIAL
Homes for sale 16,333 3.09 4.24
Homes under contract 3,139 -39.25 -27.02
Homes Sold 3,416 3.26 19.57
Average days on market 75 -5.06 -27.88
Average Sold Price $273,285 -0.35 4.28
CONDOMINIUM
Homes for sale 5,100 0.00 0.69
Homes under contract 744 -48.65 -28.60
Homes sold 949 7.84 23.09
Average days on market 79 -5.95 -28.18
Average sold price $157,566 -2.56 -8.63
Real Estate News
Denver ‘most improved’ U.S. housing market. Read More
Denver home sales up 20% in May from 2009. Read More
Foreclosure filings down in April from a year earlier. Read More
Expiring tax credits spark homebuying frenzy in Denver area. Read More
Denver home prices up 4.1% from March 2009. Read More
.
Economic News
Big retail chains with Colorado stores report May sales. Read More
Coloradans bought half as many new cars last year as a decade ago. Read More
.
Other News
Construction on the Hess Road Extension is underway. Read More
Microsoft store opens at Park Meadows mall. Read More
Colorado Lottery launches ‘Mega Millions’ game. Read More
Denver picked for 2014 world lacrosse championship. Read More
Vail, Beaver Creek to host 2015 world ski championships. Read More
Colorado skier visits up slightly from last year. Read More
Denver air fares down 30% in last 10 years. Read More
DIA to get more advanced screening technology via stimulus. Read More
Frontier Airlines spokesanimals win Effie advertising award. Read More
CU-Boulder leaving Big 12 for Pac-10. Read More
New Rockies spring training facility named. Read More
.
Thank you again for your business and referrals.
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home.
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!
Would you like to get an up-to-the minute report of homes sold and homes currently available in your neighborhood? Go to www.MetroDenverRealty.com and click on the Market Snapshot link.
Please call with any questions or comments. It would be my pleasure to assist you with all of your real estate needs.
Please feel free to contact me anytime with real estate questions you may have. Also, if you know someone who is thinking about buying or selling a home, please call to let me know. Referrals are the core of my business and are always appreciated.
Welcome to the May edition of the 2010 Denver Real Estate Market Newsletter.
Denver Trivia – Win a $50 Gift Card
Congratulations to Patty Reefe for being the first to answer last months Denver Trivia question and winning a $50 Home Depot gift card. On selected months, I secretly include a trivia question in my newsletter and award a prize to the first person to respond with the correct answer. So keep reading! You may find a trivia question and be the next winner!
Thank you for your referrals!
I would like to extend a special thank you to the Holland, Knudsen, Large and Sapkato families for their real estate referrals. Each and every referral is critical to the success of my business and is VERY much appreciated! The greatest compliment you can give me is a referral of your friends and family! Thank you again!
This Month in Real Estate:
Denver’s real estate market continues to show signs of stability and strength which can be attributed to 1) the seasonal increase typically seen each Spring, 2) the home buyer tax credit and 3) continued historically low interest rates.
April 2010 real estate indicators show the following:
The home buyer tax credit ended on April 30th. Because the tax credit pulls sales forward, home sales will likely retreat sometime after April. That may prove to be temporary as improvement in the labor market and broader economy step up to support demand.
New, Easy to Use Foreclosure Property Search Feature on Paul’s Real Estate Web Site
Looking for the most current, accurate foreclosure data on the market? The Search for Homes page found on my MetroDenverRealty.com web site now has a “Foreclosures” radio button. (The radio button can be found in the ‘Search For:” section under Search Tools. Use this link to see an example if you’re having difficulty finding the radio button.)
Please feel free to contact me anytime with real estate questions you may have. Also, if you know someone who is thinking about buying or selling a home, please call to let me know.
Tidbits
Insightful Quotes
“Forgiveness does not change the past, but it does enlarge the future.” (Paul Boese, Botanist)
What’s Happening in Denver this month?
DENVER REAL ESTATE MARKET TRENDS
Year-over-year Charts
Residential (scroll down to see all four charts)
Condos (scroll down to see all four charts)
April 2010 Real Estate Market Trends
April 2010 % CHANGE vs Prior Month % CHANGE vs Year Ago
SINGLE FAMILY (Residential and Condo)
Homes for sale 20,943 4.56 1.15
Homes under contract 6,616 12 27.65
Homes Sold 4,188 16.27 23.54
Average days on market 80 -6.92 -22.74
Average Sold Price $250,605 0.68% 7.33
RESIDENTIAL
Homes for sale 15,843 5.70 1.30
Homes under contract 5,167 11.26 24.42
Homes Sold 3,308 18.10 22.25
Average days on market 79 -8.14 -22.55
Average Sold Price $274,253 -0.25 7.79
CONDOMINIUM
Homes for sale 5,100 1.17 0.67
Homes under contract 1,449 14.73 40.68
Homes sold 880 9.86 28.65
Average days on market 84 -5.62 -23.64
Average sold price $161,708 2.46 7.40
Real Estate News
Denver area just below average for housing affordability. Read More
Sales of high-end, $1 million-plus homes in metro Denver dipped in March from the same month of 2009, but such homes sold faster. Read More
The Denver-area housing market today ranked No. 5 of 20 cities ranked in the closely watched S&P/Case-Shiller Home Price index. Denver-area housing gained 3.6%, the fourth consecutive month of year-over-year increase. Read More
Colorado foreclosure filings up 9% in Q1 Read More
Denver ranks 10th among ‘destination cities’ for movers Read More
Economic News
Denver’s March unemployment at 8.5% Read More
Colorado jobless rate hits 7.9% Read More
Five Colorado cities are in the top 30 of the nation’s best places for business and careers, with Denver and Fort Collins both in the top 10. Read More
Qwest to be sold to CenturyTel Read More
President Obama signs bill authorizing $800M for Aurora VA hospital Read More
RTD puts off tax vote on FasTracks rail project Read More
Other News
CDOT unveils summer work schedule Read More
Frontier Airlines name will go on Milwaukee convention center Read More
Frontier Airlines pays tribute to Midwest’s home with badger on jet. Read More
United Launch Alliance to stay in Centennial at expanded HQ campus Read More
Microsoft store coming to Denver Read More
2010 Mile High Music Festival to feature Dave Matthews, Jack Johnson Read More
Composting program takes off at DIA Read More
Target installs recycling stations in U.S. stores Read More
Anheuser-Busch replacing Coors as NFL’s beer sponsor Read More
Denver Water mourns the loss of chief Chips Barry. Read More
Thank you again for your business and referrals.
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home.
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!
Would you like to get an up-to-the minute report of homes sold and homes currently available in your neighborhood? Go to www.MetroDenverRealty.com and click on the Market Snapshot link.
Please call with any questions or comments. It would be my pleasure to assist you with all of your real estate needs.
Welcome to the April edition of the 2010 Denver Real Estate Market Newsletter.
.
Relocating? Looking for a vacation home? Contact me! I can help!
When relocating to pursue new opportunities or looking for a vacation home outside the Denver Metro area or anywhere else in the country, I can assist you. I can find a Realtor through my network of Realtor associates and will pre-qualify Realtor’s to assure that you work with a seasoned professional who’s capable of meeting your specific needs.
.
This Month’s Newsletter Highlights:
.
New Additions to Paul’s Real Estate Blog
Welcome to the March edition of the 2010 Denver Real Estate Market Newsletter.
Nearly two years ago I began blogging and writing my monthly Denver Real Estate Market Newsletter with the intent of keeping you informed of current events in Denver and more importantly, keeping you up to date on the condition of our local real estate market. Since that time I’ve worked hard to expand the real estate, home buyer and home seller content to provide you with a single real estate resource.
I would like to personally ask for your help in growing my real estate business by expanding the newsletter circulation. Please forward this email to your network of friends, family and colleagues asking them to read my newsletter. If they like the information and would like to be added to my distribution list, have them email me at psobania@gmail.com.*
Thank you for your continued support of this publication and my real estate business.
* Email addresses will not be sold or used for any other purpose except receiving the monthly Denver Real Estate Market Newsletter.
Tidbits
Insightful Quotes
“If you think you can do a thing or think you can’t do a thing, you’re right.” ( Henry Ford)
“It’s not what you do once in a while; it’s what you do day in and day out that makes the difference.” (Jenny Craig, Diet Specialist)
“You don’t get to choose how you’re going to die. Or when. You can only decide how you’re going to live. Now.” (Joan Baez Singer, Songwriter and Activist)
New This Month on Paul’s Real Estate Blog:
Scroll down to see all six charts.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Real Estate News
Case Schiller reported that Denver-area home prices rose 1.2% between December 2009 and the same month of 2008. Article 1 Article 2
Colorado 12th in January foreclosures down from 11th in January 2009. Read More
Denver’s delinquent commercial backed securities below national average. Read More
Denver-area rental home vacancy rate at 5.5% in fourth quarter 2009, a 3-year high. Read More
February 2010 Real Estate Summary
| FEBRUARY 2010 | % CHANGE vs Prior Month | % CHANGE vs Year Ago | |
|---|---|---|---|
| SINGLE FAMILY (Residential and Condo) | |||
| Homes for sale | 18,869 | 8.04 | -5.93 |
| Homes under contract | 4,414 | 19.62 | 5.52 |
| Homes Sold | 2,436 | 3.53 | -1.93 |
| Average days on market | 95 | 8.45 | -11.13 |
| Average Sold Price | $247,471 | 3.91 | 13.51 |
| RESIDENTIAL | |||
| Homes for sale | 14,058 | 7.89 | -7.68 |
| Homes under contract | 3,459 | 19.98 | 3.19 |
| Homes Sold | 1,913 | 3.91 | -4.73 |
| Average days on market | 92 | 2.22 | -14.02 |
| Average Sold Price | $269,688 | -3.52 | 13.83 |
| CONDOMINIUM | |||
| Homes for sale | 4,811 | 8.48 | -0.41 |
| Homes under contract | 955 | 18.34 | 14.92 |
| Homes sold | 523 | 2.15 | 9.87 |
| Average days on market | 108 | 27.06 | -0.92 |
| Average sold price | $166,206 | 5.39 | 20.23 |
2009 Colorado Real Estate Market Snapshot
Homes Sold by Colorado REALTORS® in 2009
Who were the Buyers?
Mortgage News
FHA halts 90-day “flip rule” for one year. Read article
Colorado mortgage delinquency rate among the lowest in the nation. Read More
Fannie Mae announced new incentives for buyers, up to 3.5% of the sales price for closing costs, to help clear its inventory of homes listed for sale. Read article
New short sale guidelines announced by the Federal Housing Administration (FHA). Borrowers who were in default of their mortgage at the time of a short sale are not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale.
Twenty percent of Colorado mortgages ‘upside-down’. Read More
Economic News
Denver ranks No. 9 out of 50 as the easiest place to find a job for job seekers. Read More
Denver-area consumer prices down 0.7% in 2009. Read more
Big retail chains with Colorado stores report reported that February sales were some of the strongest monthly sales gains in more than a year. Read More
Fed’s Beige Book reported ‘Modest growth’ during January and February in the Colorado region. Read More
Other News
Construction scheduled to begin on Sante Fe and C470 Fly Over. Read More
Colorado to benefit from Raytheon Co. award of a major Air Force contract to upgrade the Global Positioning System (GPS). Read More
Denver ranks 15th in U.S. for 2009 traffic congestion Read More
42.1% of all Denver’s households with a television viewed this year’s Super Bowl. Read More
Republic Airways to shut down Lynx air service. Read More
Mega Millions multistate lottery game coming to Colorado Read More
Colorado ranks 9th in Internet usage. Read More
For the first time since 1998, Ford beat General Motors in overall monthly sales. Read More
Thank you again for your business and referrals.
If you or someone you know is thinking about buying or selling a home any time in the next year, please call to let me know. It would be my pleasure to contact and work with your referral. My commitment to you is to treat them with the utmost care as they work towards buying or selling a home.
When searching homes for sale anywhere in the Denver metro area use this link, Interactive Map-Based Home Search. This interactive, map-based home search tool makes looking for homes fun and easy. If you are interested in a specific neighborhood, whether it is your current neighborhood or the one that you hope to move to someday, this site can send you e-mail notifications when new homes come onto the market. Happy home searching!
Looking for the most current, accurate foreclosure data on the market? The Search for Homes page found on the MetroDenverRealty.com web site now has a “Foreclosures” radio button. (The radio button can be found in the ‘Search For:” section under Search Tools. Use this link to see an example if you’re having difficulty finding the radio button.)
Would you like to get an up-to-the minute report of homes sold and homes currently available in your neighborhood? Go to www.MetroDenverRealty.com and click on the Market Snapshot link.
Please call with any questions or comments. It would be my pleasure to assist you with all of your real estate needs.
This weeks economic news:
Monday
Tuesday
Thursday
Friday
©Mortgage Commentary 2010 Please E-mail us your opinion of this report
Weekly Economic Update – March 15, 2010
This weeks economic news:
Monday
Tuesday
Wednesday
Thursday:
Friday
©Mortgage Commentary 2010
This weeks economic news:
Monday
Tuesday
Wednesday
Thursday
Friday
©Mortgage Commentary 2010 Please E-mail us your opinion of this report
This weeks economic news:
Monday:
Tuesday
Wednesday
Thursday
Friday
©Mortgage Commentary 2010 Please E-mail us your opinion of this report
