DENVER’S REAL ESTATE MARKET RESILIENT IN JULY!

• The average selling price for homes sold increased to $270,066, up 1.3% from June.
• The average days on market decreased to 101 days, down 2.9% from June.
• The inventory of homes for sale has decrease of 25.0% from July 2010.

TIDBITS

Insightful Quotes

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” (Oprah Winfrey)

“We often take for granted the very things that most deserve our gratitude.” (Cynthia Ozick, Writer)

“Study as if you were going to live forever; live as if you were going to die tomorrow.” (Maria Mitchell, 1818-1889, Astronomer)

“When you are kind to others, it not only changes you, it changes the world.” (Harold Kushner, Rabbi and Author)

“When I thought I couldn’t go on, I forced myself to keep going. My success is based on persistence, not luck.” (Estee Lauder, 1906-2004, Entrepreneur)

“All who have accomplished great things have had a great aim, have fixed their gaze on a goal which was high, one which sometimes seemed impossible.” (Orison Swett Marden, 1850-1924, Author)

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10% Coupon for Lowe’s

Through a special relationship with the National Association of Realtors I am able to provide my very special guests with a 10% off coupon. To request this coupon simply reply to this email and include your mailing address. Within a few days you will recieve your coupon in the mail. If you know anyone who is taking on a home improvement project who could also benefit from this special, send me their mailing address and email address and I’ll get one to them as well.
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DENVER REAL ESTATE MARKET TRENDS

Residential (use the scroll bar on the right side of the chart to view all four graphs)

July MLS Chart for Aug 2011 Newsletter – Res
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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs).

July MLS Chart for Aug 2011 Newsletter – Condo
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July 2011 Real Estate Market Trends

DENVER REAL ESTATE NEWS

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Denver Parade of Homes open through September 5th.  Admission is FREE! Read More

Fannie Mae and Freddie Mac downgraded by Standard and Poor’s Read more

Residential real estate sold in metro Denver during the month of July topped $1 billion in sales volume. Read More

Richmond American Homes is the largest home builder in the Denver area Read More

Energy company looking to drill for natural gas in Parker near the Stonegate community Read More

Seventy-one homes, with a sales price of $1 million or higher, sold in June compared to 47 in May Read More
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INVESTOR NEWS

Apartment market soars, shortage coming Read More

The apartment vacancy rate in the Denver metro area fell to 4.8 percent in the second quarter, the lowest vacancy rate recorded since the first quarter of 2001. Read More

Apartment vacancies going down, rents going up Read More
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FORECLOSURE NEWS

Colorado 9^th for foreclosures Read More

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ECONOMIC NEWS

CenturtyLink cuts about 400 Colorado jobs Read More

Denver personal income rose 2.47% in 2010 Read More

U.S. unemployment eases to 9.1% Read More

Colorado industrial jobs up for 1st time since 2006 Read More

Colorado jobless rate falls to 8.5% in June; Read More

The redevelopment of the former Children’s Hospital site into the new St. Joseph Hospital is anticipated to be an economic boon for the city.  The 3-year construction period is estimated to benefit the economy with 1,400 construction jobs annually and as much as $340 million in wages for the $623 million facility.

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GREEN NEWS

Weld County wind farm now providing power for 75,000 homes Read More

Denver International Airport No. 1 in nation for solar power capacity Read More

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OTHER NEWS

CenturyLink signs to light up over Denver Read More

Sports Authority wants name on Broncos Mile High stadium Read More

RTD gets $1B federal grant for FasTracks construction Read More

Momentum is building to designate pack burro racing as the official sport of Colorado Read More

United States Air Force Academy in Colorado Spring’s ranks No. 10 in U.S. for undergraduate schools Read More

Centura Health building hospital in Castle Rock Read More

Expect detour on DIA’s Pena Blvd from August to November Read More

Widening U.S. 36 to start next summer Read More

National Jewish Health continues to rank as the top respiratory hospital in the nation. Read More

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THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!

Please call me with your real estate questions. I’m always happy to help you navigate through this constantly changing real estate market!

DENVER’S REAL ESTATE MARKET IMPROVES IN JUNE!

• The average selling price for homes sold increased to $266,493, up 3.6% from May.
• The average days on market decreased to 104 days,  down 4.6% from May.
• The inventory of homes for sale remained unchanged at 19,580 homes.  This is a decrease of 15.8% from June 2010.

While one month’s data doesn’t make a trend, trends do become apparent when looking at 30 months of data.  Please take a moment to review the real estate charts below.  The real estate market has softened since 2010 but the trends indicate that the market has been stabilizing.

A stable real estate market is good news for buyers and sellers.  Since an actual ‘recovery’ may be years away, this may be the time to take advantage of continued (historically) low interest rates.  Well qualified buyers can find rates as low as 4.25% with1% origination. On the purchase of a $400,000 house your payment would increase $1,300 per year with just a 0.5% increase in rate (4.75%).  If you look at this from another perspective, maintaining the same monthly payment and an interest rate increase to 4.75%, your affordability would decrease by $20,000.  The $400,000 would no longer be affordable!  Ohhhhh, the power of compounding interest!
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TIDBITS

Insightful Quotes.

“The best way to predict the future is to create it.” (Peter Ferdinand Drucker, 1909-2005, Political Economist and Author)

“You never know what you can do until you have to do it.” (Betty Ford, 1918-2011, Former First Lady and Founder of the Betty Ford Center)

“One’s dignity may be assaulted, vandalized and cruelly mocked, but cannot be taken away unless it is surrendered.” (Michael J. Fox, Actor)

“A hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles.” (Christopher Reeve, 1952-2004, Actor, Director and Producer)

“We have a choice every day – to act on yesterday’s good intentions or get an early start on tomorrow’s regret.” (Robert Brault, Writer)

Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” (Oprah Winfrey, Television Host)

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10% Coupon for Lowe’s

Through a special relationship with the National Association of Realtors I am able to provide my very special guests with a 10% off coupon.  To request this coupon simply reply to this email and include your mailing address.  Within a few days you will recieve your coupon in the mail.  If you know anyone who is taking on a home improvement project who could also benefit from this special, send me their mailing address and email address and I’ll get one to them as well.
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Protect you Home and Property

Last Tuesday, July 12th, our neighbor’s home was struck by lightning which subsequently started a huge fire. Watch Video The good news is that Cathy and Ron were not home at the time and were uninjured. The bad news is that they lost most of their personal posessions and their home will have to be completely rebuilt from the foundation up.

My wife, Jenny, and are have taken this opportunity to protect our family and home. First of all, we will be installing a lightning protection system on the roof of our home. This may not be necessary for most homes, but we’ve have three major lightning strikes and fires within one block of our house in the last six years. If you’d like more information on these systems I would recoommend that you refer to the following web sites; Lightning Protection Institute and Mr. Lightning. The systems cost about $2,500 but offer protection to our home that is priceless. The second action that we have taken is to confirm that our homeowners insurance is current and up-to-date to cover any possible property loss.

The final step we’ve taken is to protect important files and computer data. The files were taken to the safety deposit box. The computer data was backed up to an off-site facility called Carbonite.com. This is a relatively inexpensive service, less than $50/year, that automatically backs up my computer. If our computer systems were destroyed or stolen, the data would be recoverable. There are a few personal possessions that would be heart breaking to lose. If we lost the digital photographys of the kids, we would be completely devestated. Carbonite.com is very expensive insurance for our most prized possessions, our computer data!
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DENVER REAL ESTATE MARKET TRENDS

Residential (use the scroll bar on the right side of the chart to view all four graphs)

June 2011 MLS Stats for July Newsletter_Res

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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs).

June 2011 MLS Stats for July Newsletter_Condo
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June 2011 Real Estate Market Trends

DENVER REAL ESTATE NEWS

Average home selling price increases 3.5% from June.  Inventory of homes for sale down 15.8% from June 2010. Read More

Parade of Homes opens Aug. 11 Read More

Homebuilder Taylor Morrison sold for $955M Read More

High-end Aspen homes are selling Read More

Seinfeld wants $18 million for Colorado ski home Read More
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MORTGAGE NEWS

Bank of America agrees to landmark $8.5B settlement for sale of mortgage securities. Read More
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FORECLOSURE NEWS

Colorado Weekly Foreclosure Statistics Read More

Mortgage delinquency rates down 22% in May Read More

Colorado foreclosure filings down 13.5% from May 2010 Read More
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ECONOMIC NEWS

U.S. unemployment edges up to 9.2% Read More

Colorado has gained a net 11,000 jobs through the first five months of 2011 Read More

More young adults working in Denver than most cities Read More

Denver 9^th Best Place for Business and Careers (Forbes) Read More

Colorado new car sales up 21% through May from 2010 Read More

Colorado and Denver visitors reach record numbers Read More

Two Colorado banks fail Read More
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GREEN NEWS

$475M wind farm dedicated in Weld County Read More

Colorado ranks above average on ‘green’ jobs Read More
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OTHER NEWS

Elway’s to open restaurant in Vail Read More

Pine beetle presence increasing in Denver Read More

CenturyLink to remove Qwest signs Read More

Denver seen as a potential site for 2022 Winter Olympics Read More

Denver airport now busier than ever Read More

I-70 mountain improvement study advances Read More

New St. Anthony Hospital up and running Read More

Kuni Lexus to build big south metro store on 6-acre site Read More

Children’s Hospital adds ‘Colorado’ to name Read More
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THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!

Please call me with your real estate questions. I’m always happy to help you navigate through this constantly changing real estate market!

Keller Williams DTC, #1 In the Denver Market

Keller Williams has experience amazing growth over the last few years. Just two months ago I posted that Keller Williams Realty took over the No. 2 spot as the second largest real estate brokerage in the U.S. Well, the growth trend continues. Last month Keller Williams Denver Tech Center (DTC), the office that I’m affiliated with, was the number one producing brokerage firm in the entire Denver Metro Area. No one sold more homes than Keller Williams DTC!
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Stay tuned as we continue our march towards the number 1 spot in the U.S.!
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TIDBITS

Insightful Quotes

“I see that the path of progress has never taken a straight line, but has always been a zigzag course.” Kelly Miller, American sociologist

“Kind words can be short and easy to speak, but their echos are truly endless” Mother Theresa, 1910-1997, Catholic Nun and founder of Missionaries of Charity in Calcutta

“I quit being afraid when my first venture failed and the sky didn’t fall down.” Allen H. Newharth, Founder of USA Today

“People often say that this or that person has not yet found himself. But the self is not something one finds, it is something one creates” Thomas Szasz, Psychiatrist and Author
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Amazing Athleticism

Last July’s newsletter featured videos of two amazing athletes. This month, I have two more videos to share. The first is a compilation of Parkour/Free Running and the second is from my favorite cyclist Danny MacAskill. If you have a favorite videos please forward to me and I may add to an upcoming newsletter.

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DID YOU KNOW

THE U.S. FEDERAL DEBT EXPLOSION

Did you know that you are $127,000 more in debt than you thought, thanks to the massive federal debt load. The federal debt has grown every single year since 1957, and the debt has doubled in the last seven years alone. The federal debt is now a whopping $14.1 trillion.

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So, how much debt is too much debt? Most economists agree that some federal debt is okay, as long as it remains a reasonable percentage of GDP (a close proxy for the nation’s tax base). What’s “reasonable” is debatable, but there’s no denying that we are pushing the upper bounds by anyone’s definition today. Our current federal debt is 95% of GDP, the highest it has been in over 60 years.

A special thanks to John Burns Real Estate Consulting
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DENVER REAL ESTATE MARKET TRENDS

Residential (use the scroll bar on the right side of the chart to view all four graphs)

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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs) .

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April 2011 Real Estate Market Trends

DENVER REAL ESTATE NEWS

Denver-area luxury home sales rise Read More

Metro Denver assessors lowering most property valuations Read More

The Denver-area housing market down from 2010, still fairing well compared to the 20 metropolitan areas tracked by Case-Shiller Read More

Developer to buy old CU hospital site Read More
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MORTGAGE NEWS

Fed cracks down on bank mortgage practices Read More

Mortgage application volume remain flat for home purchases Read More
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U.S. NATION REAL ESTATE NEWS

Second-home sales decline in 2010 Read More
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INVESTOR NEWS

Denver apartment vacancies hit low point Read More
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FORECLOSURE NEWS

Colorado No. 9 for Foreclosures Read More

Foreclosure filings fall in Colorado Read More
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ECONOMIC NEWS

Denver’s commercial-mortgage backed securities (CMBS) delinquencies among lowest in the U.S. Read More

Colorado unemployment drops to 9.2% Read More

U.S. unemployment rate edges up to 9.0% Read More

Personal Bankruptcy in the US falls 6% in first quarter Read More

Fed sees solid economic growth in Colorado Read More

42% of Colo. companies will hire in 2011 Read More
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OTHER NEWS

Colorado a great place to make a living Read More

Douglas County No. 7 on richest-counties list Read More

PGA Tour coming to Denver Read More

Denver to be No. 5 in summer visitors Read More

Spending plan keeps Orion space capsule going Read More

Newmont Mining is Colorado’s biggest public company Read More
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THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!
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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.

What is the rental value for your home?

For years, Zillow.com has been one of the top visited real estate web sites used by buyers, sellers and homeowners to get a quick estimate of a home’s market value, anywhere in the U.S. In March, Zillow.com released a brand new feature called Rent Zestimates. This tool gives renters and landlords an estimate of the approximate rental price of more than 90 million homes. So, the next time you are throwing around the idea of converting your home into a rental and are curious to know what your home may rent for, give Zillow.com a try.

Disclaimer: Zillow should only be used as an estimate. The typical accuracy for Denver is +/- 11.4%. Seek the advice of a real estate professional. Learn more about Zillow’s accuracy.
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TIDBITS

Insightful Quotes

“What is the difference between an obstacle and an opportunity? Our attitude toward it. Every opportunity has a difficulty, and every difficulty has an opportunity.” J. Sidlow Baxter, 1903-1999, Author and Theologian

“My great concern is not whether you have failed, but whether you are content with your failure.” Abraham Lincoln

“I am grateful for all of my problems. After each one was overcome, I became stronger and more able to meet those that were still to come. I grew in all my difficulties.” James Cash Penney, 1875-1971, Entrepreneur and Founder of J.C. Penney Department Stores
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National Prescription Drug Take Back Day

Did you know that pharmaceuticals; including antibiotics, antidepressants, synthetic estrogen (birth control pills), and 53 other by-products have been found in the nations drinking water supply? When a person takes a pill, their bodies absorb some of the medication, but the rest of it passes through and is flushed down the toilet. Most water treatment processes do not remove all of the drug residual, therefore trace amounts of the drugs are being released into the environment. The long term impact to humans is little known but studies have shown synthetic estrogen to cause reproductive mutations to aquatic species.

On April 30th the City of Lone Tree is asking you to empty your medicine cabinet of all unused and unneeded medicines. Proper disposal of pharmaceuticals is as important as proper disposal of motor oil and other household chemicals. Please take advantage of this free service and help protect our environment for future generations.  This event is available to all metro Denver residents.   Event Details

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DENVER REAL ESTATE MARKET TRENDS

Residential (use the scroll bar on the right side of the chart to view all four graphs)

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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs) .

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March 2011 Real Estate Market Trends

DENVER REAL ESTATE NEWS

Stapleton is Denver’s #1 Master Planned Community in 2010 Read More

January home prices down 2.3% from January 2010 according to Case-Shiller home price index.    Read More

Download Case-Schiller Report

New home construction slows in the first two months of 2011. Read More

Shea Homes receives the J.D. Power Customer Service Champion Award. Read More

Luxury home prices up but sales down compared to February 2010. Read More

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U.S. NATION REAL ESTATE NEWS

Distressed sales account for 39% of all re-sale homes sold in February. Read More

Existing-home sales fell in February after three months of gains. Read More

U.S. home prices down compared to a year ago but up 4.2 percent from two years ago Read More

Pending home sales have risen 20 percent since bottoming out in June 2010, following the expiration of the homebuyer tax credit. Read More

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FORECLOSURE NEWS

Foreclosure sales in February declined 19.6 percent from February 2011. Read More

Use this link to view foreclosure filings listed by County Read More

2010 foreclosures accounted for 24.7 percent of all sales in Colorado Read More

23 Percent of U.S. Mortgages Are Underwater Read More

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ECONOMIC NEWS

Colorado unemployment rises to 9.3% Read More

U.S. unemployment dips to 8.8% Read More

Qwest, CenturyLink complete merger Read More

Colorado 14th in average personal income Read More

Consumer spending measure surges Read More

Colorado economy lost jobs in last decade Read More

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OTHER NEWS

Kaiser scores first in J.D. Power ranking Read More

New solar power plant commissioned in Alamosa County commissioned Read More

‘The end’ for Colo. film-incentives bill Read More

Malone now biggest U.S. landowner Read More

LEGO to open 2nd Colorado store at Park Meadows Read More

Mile High Music Festival canceled for 2011 Read More

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THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!
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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.

KELLER WILLIAMS IS NOW THE SECOND LARGEST REAL ESTATE BROKERAGE!

In 2010 Keller Williams Realty surpassed Century 21 becoming the second-largest real brokerage firm in the United States! Keller Williams took the number two spot with more than 77,000 associates just two years after claiming the number three spot from RE/MAX® International. Despite contraction within the industry Keller Williams has had 5 consecutive years of growth. With a business model focusing on providing the very best tools and training to their agents, in turn benefits all of our clients. In fact, J.D. Power and Associates rated Keller Williams highest in overall satisfaction from home buyers among the largest full-service real estate firms. The third year in a row!

GOING SOLAR

For years my wife Jenny and I have looked at installing a photovoltaic (PV) solar system on the roof our home to capture sunlight and convert it to electricity. In 2006 we received a bid to install a 4.16 kilowatt (kW) PV system which would have met approximately 75% of our annual electrical usage. The cost of that system was $33,000 and after the Xcel Energy and government rebates our actual out of pocket cost would have been just over $12,000. Unfortunately, with two very small children in tow, we didn’t have the extra $12,000 sitting in the bank.

Fast forward to 2009, Morgan Carol, Colorado State Senator from Aurora, sponsored a bill that would allow qualified third party institutions to finance the installation of PV systems. This bill, which was signed into law by Governor Ritter, created a new market that would allow a company such as Solar City (add link to website) to own and operate PV systems and lease them back to homeowners and corporations. Rather than having to buy their own PV system, a homeowner could have a complete solar system installed on their roof and pay a monthly lease to Solar City in lieu of having to make the large initial capital expenditure.

Next month we will be installing a 6.3 kW PV system on the south and east planes of our roof. This larger system will actually produce 123% of our annual usage, i.e. we will be generating more electricity each year than we are now using and will be selling back excess electricity to Xcel Energy. The program offered by Solar City is called the Zero Down SolarLease. The cost of our monthly lease to Solar City is nearly the same amount as what we paid to Xcel Energy . Even though we may not save any money in 2011, we expect to save thousands of dollars over the next 20 years as utility rates are expected to increase.

If you think that your home may be a good candidate for solar, please call or email Lizzy Eldridge with Solar City (303-549-7971 or ealdridge@solarcity.com). Simply provide her with your address and she can look at online maps to see if your home is a good candidate. At that point, just schedule an appointment with Lizzy or one of the other solar installation companies that offer a solar lease program.

Use this Link links to learn more about PV photovoltaic systems, SolarCity and the zero down SolarLease.

TIDBITS

Insightful Quotes

“Very little is needed to make a happy life; it is all within yourself, in your way of thinking.”
Marcus Aurelius, 121-180, Roman Emperor and Philosopher

John Irving, Academy Award Winning Screenwriter and Novelist

“Everybody is like a magnet. You attract to yourself reflections of that which you are. If you’re friendly, then everybody else seems to be friendly too.”
Dr. David Hawkins, Physician and Lecture

DENVER REAL ESTATE MARKET TRENDS

Residential (use the scroll bar on the right side of the chart to view all four graphs)
Feb 2011 MLS Stats for Mar newsletter_Res

Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs) .
Feb 2011 MLS Stats for Mar newsletter_Con

February 2011 Real Estate Market Trends

DENVER REAL ESTATE NEWS

Home resales drop 8.5% in February from 2010 Read More

Denver luxury home sales up 48% Read More

Kelsey Grammer selling Beaver Creek ski home for $7.9M Read More

DENVER COMMERCIAL REAL ESTATE NEWS

CU ends contract with Shea to develop hospital site Read More

INVESTOR NEWS

Rental-home vacancies at all-time low Read More

Rental home rents poised to rise Read More

FORECLOSURE NEWS

Use this link to view foreclosure filings listed by County Read More

Foreclosure Activity Decreases in February Read More

ECONOMIC NEWS

Denver’s recession recovery among swiftest Read More

Denver one of few expanding economies Read More

Colorado unemployment rate increases to 9.1% in January Read More

U.S. adds 192,000 jobs; jobless rate 8.9% Read More

More Coloradans lose jobs in mass layoffs Read More

New-car sales increase in Colorado Read More

OTHER NEWS

Metro State College to get ‘university’ in title Read More

DPS touts decline in dropout rate Read More

DU rated top undergrad B-school in Colo. Read More

Denver ranked 8th as ‘brain magnet’ Read More

Colorado is 5th happiest state Read More

6 Colorado Borders stores to be closed Read More

Denver gained 1,300 retail jobs in 2010 Read More

Colorado urban foreclosure sales down 22% Read More

THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!
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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.

 
• Buying a Home vs Renting a Home
• Sitting on the Fence – The ‘Herd’ mentality
• 2010 Real Estate Market – Year in Review

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BUYING A HOME VS RENTING

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There are several economic factors affecting the value of our homes and the strength of the real estate market here in Denver. Looking from a simplified point of view, our real estate market responds to the fundamental economic concept of supply and demand. As demand increases, the real estate market strengthens (supplies decrease and prices increase). When demand decreases, the real estate market weakens (supplies increase and prices decrease).
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Over the last several years we’ve seen demand decrease due to higher unemployment, low job creation, and low consumer confidence. One other important factor affecting demand is the relationship between the cost of renting a home vs the cost of buying a home. When the cost of renting a home is greater than the cost of home ownership, people are inclined to own a home rather than rent thereby increasing demand. When the cost of ownership is greater than the cost to renting, there is less incentive to buy so people end up renting thereby decreasing demand.
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According to Trulia.com, which released its latest Rent vs. Buy Index for the first quarter of 2011, it is better to buy a home in Denver than rent. Rents have been on the rise over the last few years as more potential homebuyers chose to rent. People may choose to rent rather than buy because of difficulty in qualifying for a home mortgage, stricter bank lending practices, under employment, and former home owners being forced to become renters because of foreclosure. When comparing the increased cost of renting with the increased home affordability, it is less expensive to buy than rent in Denver.

Read Article (Link #1)

View Denver Market Graphic (Link No. 2)
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SITTING ON THE FENCE AND TIMING THE MARKET

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When investing in the financial market, investors work to maximize their returns by timing the market; buying low (at the bottom) and selling high (at the top). While this sounds logical it often times isn’t what happens. Investors make decisions based on emotions (greed and fear) and as inventor sentiment converges, whether with euphoria or fear, investors move in a herd like manner in an attempt to maximize their return. This ‘herd’ behavior has resulted in many market bubbles and subsequent crashes through-out the history of our modern financial markets.
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Warren Buffet, arguably one of the most successful investors of our time, created enormous wealth by understanding these emotions. He said, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” When fear is greatest he is a buyer, when there is over-optimism in the market he remains the most cautious.
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The financial markets are analogous to our real estate markets. Today, many buyers are ‘sitting on the fence’ either because of fear or because they are trying to time the market in search of the bottom. As the picture below demonstrates, there is limited time to buy (at or near the bottom) before the ‘herd’ accepts that the markets are improving and buyers begin to buy. Unfortunately, by the time they get off the fence prices are on the rise and buyer competition is increasing.

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TIDBITS

Insightful Quotes

“Seek not to change the world, but choose to change your mind about the world. What you see reflects your thinking. And your thinking but reflects your choice of what you want to see.”

“Man often becomes what he believes himself to be. If I keep on saying to myself that I cannot do a certain thing, it is possible that I may end by really becoming incapable of doing it. On the contrary, if I shall have the belief that I can do it. I shall surely acquire the capacity to do it, even if I may not have it at the beginning.” Mahatma Gandhi, 1869-1948, Indian Nationalist Leader

“Appreciation is a wonderful thing: It makes what is excellent in others belong to us as well.” Voltaire, 1694-1778, Philosopher and Writer
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2010 REAL ESTATE MARKET SUMMARY

Generally speaking, I prefer to look towards future trends to see where our real estate market is headed. That being said, it is important to understand historical trends since real estate markets tend to be cyclical. When looking at 10 years (or more) of data, such as the year-over-year charts below, we can clearly see where we’ve been, periods of strength (increased demand and decreased supply) and periods of market weakness (decreased demand and increased supply).
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INVENTORY (year-over-year)


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HOMES SOLD (year-over-year)


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CLOSED DOLLAR VOLUME (year-over-year)


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AVERAGE SALES PRICE (year-over-year)


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MEDIAN SALES PRICE (year-over-year)


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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)
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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs) .

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January 2011 Real Estate Market Trends

	January 2011	% CHANGE vs Prior Month	% CHANGE vs Year Ago
SINGLE FAMILY (Residential and Condo)
Homes for sale	17,890	-2.01	2.43
Homes under contract	3,147	16.90	-14.72
Homes Sold	2,156	-28.70	-8.37
Average days on market	121	4.87	35.64
Average Sold Price	252,307	-0.34	5.94
RESIDENTIAL
Homes for sale	13,714	-1.63	5.25
Homes under contract	2,514	17.92	-12.80
Homes Sold	1,724	-28.82	-6.36
Average days on market	120	8.11	33.33
Average Sold Price	277,922	1.20	6.68
CONDOMINIUM
Homes for sale	4,176	-3.24	-5.84
Homes under contract	633	13.04	-21.56
Homes sold	432	-28.24	-15.63
Average days on market	123	-6.82	44.71
Average sold price	150,085	-10.04	-4.83


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DENVER REAL ESTATE NEWS

Sales of $1 million-plus homes in Denver increase 12% in 2010Read More

Denver home sales dip 10.4% in 2010 Read More

Denver new housing starts increase 40% in 2010 Read More

Stapleton home sales up 10% in 2010 Read More

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DENVER COMMERCIAL REAL ESTATE NEWS

Denver joins in U.S. office-market rebound Read More

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FORECLOSURE NEWS

Use this link to view foreclosure filings listed by County Read More

U.S. Foreclosures Hit Record High in 2010 Read More

Colorado foreclosure filings drop 8% in 2010 Read More

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APARTMENT NEWS

Denver to stay a top apartment market Read More

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ECONOMIC NEWS

U.S. unemployment drops to 9% Read More

Colorado unemployment rate climbs to 8.8% in December Read More

Colorado new-car sales up 6.5% in 2010 Read More

Intrawest announces it will move to metro area this year Read More

ProLogis to merge with AMB Read More

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OTHER NEWS

Denver Restaurant Week begins February 26^th Read More

2010 busiest year ever for DIA Read More

Bark beetles killed 550K forest acres in Colorado, Wyoming last year Read More

Officials examine ways to unclog C-470 Read More

John Elway plans to sell cars in Denver again Read More

Last year was Denver’s 2nd best ever for conventions Read More

Fund drive to fix Capitol dome to begin Read More

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THANK YOU 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. Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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!
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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.

GARAGE DOOR ALERT!

I decided to start this newsletter with the following security alert.  I’ve seen a lot of videos go viral on YouTube and as impressive as they appear they are often fake.  After watching the following video, showing someone breaking into a garage, I had to go out into my garage and verify what I had seen.  My garage door design was exactly the same as the one in the video that had been easily opened using a wedge and coat hanger.

The good news is that I found another video showing how to protect your garage and home using a zip tie.  Caution – use a small enough zip tie so you can break the zip tie by pulling the handle in case of an emergency.

TIDBITS
 

Insightful Quotes

“Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, chocolate in one hand, martini in the other, body thoroughly used up, totally worn out and screaming “WOO HOO what a ride!” (Anonymous, from someone who’s always looking to have a REALLY good time)

“It is better to look ahead and prepare than to look back and regret.”  (Jackie Joyner-Kersee,
Olympic Gold Medal Champion)

“It doesn’t matter which side of the fence you get off on sometimes. What matters most is getting off.”  (Jim Rohn, 1930-2009, Speaker and Author)

“One day at a time – this is enough. Do not look back and grieve over the past, for it is gone: and do not be troubled about the future, for it has not yet come. Live in the present, and make it so beautiful that it will be worth remembering.”  (Ida Scott Taylor, 1820-1915, Author)

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My Favorite Smart Phone App

Porter Adventist and Littleton Hospital are the first hospitals in the nation to run a pilot program that enables emergency room patients to pre-register via their Smartphones before arrival.  Read More

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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)

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Condo and Townhomes (use the scroll bar on the right side of the chart to view all four graphs) .

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December 2010 Real Estate Market Trends

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DENVER REAL ESTATE NEWS

Denver-area home resales up in December  Read More

Denver home resales dip 10.4% in 2010  Read More

Number of underwater homeowners declines Read More

Top sale of 2010 – Denver’s $149M Granite Tower high-rise Read More

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NATIONAL REAL ESTATE NEWS

Home Sales

Existing home sales resumed on an upward trend since bottoming in July. Sales activity rose to a seasonally adjusted annual rate of 4.68 million in November. This was up 22% from July and 5.6% above the 4.43 million level in October, but remained 27.9% below the 6.49 million tax credit rush a year ago. As steady job creation is expected to continue, industry experts are hopeful for 2011.

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Home Price

Home prices continued to stabilize. Median home prices edged up slightly to $170,600, 0.4% above year-ago levels. Distressed homes have accounted for a fairly stable market share, representing 33% of sales in November. This is on par with the 34% in October and 33% in November 2009. Historically favorable interest rates, coupled with stable home prices, continue to offer advantageous buying opportunities.

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Inventory

The number of homes on the market continued to decline. Total inventory fell to 3.71 million in November from 3.86 million in October. This reflects the increasing response from buyers to improved affordability conditions. As lending standards return to historical norms and consumers become more confident about their financial situation, more people will be able to buy their first home, move up, or invest.

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Affordability

Housing affordability set a new record in November. The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio, currently at 13.5%, continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to begin drawing affordability back up toward more normal levels.

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Mortgage Rate News

Mortgage rates are inching up but remain historically low. This trend continues to support home buying as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.

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FORECLOSURE NEWS

Use this link to view foreclosure filings listed by County  Read More

Colorado’s rate for non-current mortgages was 7.7% compared to the national average of 13.1%.  Read More

Colorado foreclosure sales fall to 20-month low as lenders postpone sales  Read More

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ECONOMIC NEWS

U.S. unemployment drops to 9.4%  Read More

Colorado’s unemployment rate rose to 8.6 percent for November  Read More

Denver-area jobs show year or year rise for first time in 24 months  Read More

Personal income grows for 5^th consecutive quarter in Colorado  Read More

Big retail chains report increased December sales compared to 2009  Read More

Survey shows Colorado business confidence rebounds  Read More

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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.  Referrals are the core of my business and are always appreciated.

Free Real Estate Tools

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.