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Category Archives: Home Sellers
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
Green Features for Your Denver Home
The phrase “Going Green” puts a variety of images into people’s minds. Some may envision a house built entirely out of recycled soda bottles. Someone else might imagine a house powered completely by wind turbines. Whatever your idea of green real estate is, the simple truth is that you don’t have to wait to start living green. Thanks to a number of companies, incorporating green features into your current residence or your future home is simpler than ever. Whether or not you are an environmentalist at heart makes no difference because going green has the potential to save you a… 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
Denver Employment Forecast is Good News for Denver Home Sellers
Once again, Denver residents have something to brag about. The most recent quarterly Manpower Employment Outlook Survey shows that employers in the metro Denver area will both continue to hire and hold off on staff reductions. This makes Denver-Aurora the fifth best employment area in the country. A Manpower spokesperson said that employers nation-wide expect stronger employment forecasts versus one year ago. But when compared to the nationwide numbers, Denver is well above the average. Of the 140+ Denver-area employers who were interviewed about the next quarter’s hiring plans, 18 percent plan to hire more employees and none have expectations… Read More
Water Woes to Ease for Homeowners in Parker and Surrounding Communities
What began as an idea 25 years ago in 1985 is ready to become the Rueter-Hess Reservoir, the first large water storage facility built along the front range in over 20 years. Located three miles southwest of Parker on Newlin Gulch, this new reservoir will provide much-needed water services to 45,000 residents of Parker as well as homes in the surrounding communities of Castle Rock, Castle Pines North and Stonegate. Water will begin filling this 72,000 acre-foot reservoir once final safety inspections are complete. Initial plans called for the reservoir to be only 16,200 acre-feet, but in 2008 the U.S…. 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
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