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Category Archives: Denver Real Estate Investing
5 Tips to Be the Winning Buyer for Your Denver Home
If you’re buying a Denver home, be forewarned: this is not last year’s housing market and the rules for buyers are shifting with the housing turnaround. Here are five new tenets that all serious buyers should heed. Skip the Lowball Offer – In this improving market, you’ll do better asking the seller for concessions such as help with closing costs or paying for needed repairs. Making an offer far below asking price can at best prevent price negotiation and at worst kill the deal altogether. Savvy Denver home sellers will just move to the next buyer in line. Pre-Approval is… Read More
Higher Rental Rates Are Good News for Denver Investment Property Owners
The numbers bear it out. People really do want to live in Denver over other places in the country. Nothing shows this more clearly than the increased demand for rental units, the large uptick in rental charges, and the plunging apartment vacancy rate in theDenver area. A report from the Apartment Association of Metro Denver and the Colorado Division of Housing says the average rent for a metro Denver apartment had a 4.5 percent year-over-year increase from Q1 2011 to Q1 2012, the largest jump for any quarter since 2002. In dollars, this equates to average rents growing from $911… Read More
Stealth Tactics for Buying a Denver Home
If you’re hunting for real estate in Denver, you may need to consider a new tactic: stealth. In markets where available homes have dwindled or listings come and go quickly, some home buyers are skipping the MLS and working behind the scenes with agents and/or directly with sellers. This is particularly true in Denver, which is second in the country for the shortest time on the market for home listings. Homes in Denver are on the market for a mere 33 days, well below the 89-day national median. There are just too few homes in the area to meet the… Read More
METRO DENVER REAL ESTATE MARKET UPDATE – APRIL 2012
The Market is Shifting Buyers are coming out of the woodwork looking for homes, but not finding much to choose from, especially in the under $300,000 price range. We are counseling buyers in this price range to be ready to jump quickly on any house that comes on the market that meets their criteria. That means being pre-approved for a loan, have earnest money ready, and being ready to make a quick decision. This price range is no longer a buyers’ market; it is a sellers’ market, with many properties getting multiple offers within days of being placed on the… Read More
Bidding Wars Mean Good Things for Denver Housing Market
Attention anyone who’s currently hunting for a Denver home. The buyer’s market is on its way out, home prices are starting to rise, and you might just find yourself in a bidding war for the house you’ve chosen. The last time bidding wars were common was back in 2006; then the buyer’s market took hold and most Denver home sellers had to settle for whatever they were offered, including lowball bids. But real estate markets in places like Denver, Seattle, Boston, and Washington DC are reporting that bidding wars have begun to happen again, especially in the lower price ranges…. Read More
Hispanic Homebuyers Could Help Denver and the Nation
A new report by the National Association of Hispanic Real Estate Professionals suggests that the country’s Latino population may play a huge part in turning around the housing market. This is great news for potential homebuyers in Denver and other U.S. cities. This report, “The State of Hispanic Home Ownership 2011,” shows that Latinos are poised to become a growing force in the housing market. Their purchasing power reached $1.1 trillion in 2011and is expected to grow to $1.6 trillion by 2016. There are many factors in play, but probably the most significant is that from 1980 to 2010 the… Read More
METRO DENVER REAL ESTATE MARKET UPDATE – MARCH 2012
Well, the word on the street continues to be “Inventory, Inventory, Inventory!” Very few times in history have we seen our inventory drop to these kinds of levels without a major shift occurring in our marketplace! The Pendulum is now starting to swing back in the favor of sellers. The first signs of a recovery are a lack of inventory, demand outpacing supply, and upward pressure on prices! As you will see in the attached data, inventory is down approximately 40%, while sales numbers are up modestly about 12% year over year. Average Prices, however, are almost flat, which is… Read More
More Denver Renters a Good Sign for Denver Homeowners
A recent study by TransUnion LLC, a credit information-management service, offers yet more proof that people want to live in the metro Denver area. According to the study, average rental charges for apartments in Denver have increased more than 10 percent in the past year, which would indicate that Denver’s economy is strong enough to be drawing in new residents. At a time when U.S. vacancy rates for rentals were at their lowest in ten years, Denver’s average rents went from $777 in Q4 2010 to $857 in Q4 2011. Average national rents went from $831 to $820 for the… Read More
METRO DENVER REAL ESTATE MARKET UPDATE – FEBRUARY 2012
Are We Witnessing the Bottom of the Denver Real Estate Market? Wow, we are seeing some definite momentum to begin this new year of 2012! Typically January’s activity is lower than December as far as numbers of closings go. But this January’s closings compared with January 2011 showed an increase of 16%! The big story continues to be the lack of inventory, and buyers are still being picky on their selections. Interest Rates are still at historically low levels and will be through the first half of 2012. Prices for single family homes priced below $250,000 have risen 4.7% in 12… Read More
Positive Labor Market Good for Denver Buyers
If you’re a current Denver homeowner looking to refinance or a potential Denver home buyer, the labor market has just given you something to smile about. The recent Jobs Report confirmed that job numbers have gone up and the unemployment rate has gone down. More than 257,000 private-sector jobs have been created since the previous Jobs Report, and the Unemployment Rate has dropped by 0.2 percent landing at 8.3 percent—the lowest rate since February 2009. And according to the Commerce Department, December personal incomes jumped up 0.5 percent, which was higher than expected and a vast improvement over November’s 0.1… Read More
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