Mortgage Rates Falling to New Lows!

Weak Economic Data Sends Mortgage Rates Lower

Today's economic news drove mortgage interest rates down.  If you are position to buy property, NOW is the time.  

"The gross domestic product rose 2.8% in the final three months of 2011, below the market consensus forecast of 3%, while consumer spending in December was flat. One bright spot, however, was that fixed residential investment increased for the third consecutive quarter and residential construction spending rebounded in December, rising 0.7%."    Housing Wire - Kerri Panchuk 

 Home prices in the Denver Metro area have turned the corner and with today's low prices and low interest rates this may be your opportunity.  If you think you are ready for a new home, contact me.  waltgrande@yourcastle.org
 I have been selling Real Estate for over thirty years now, and have not seen interest rates this low before.  Don't miss out on this buying opportunity.  

Winter activites aren't just about riding the slopes

Family Style - Colorado Summit Magazine - Winter 2012 - Breckenridge, Copper, Dillon, Frisco, Keystone and Silverthorne, CO

Not everyone who visits the mountains wants to spend their days going up and down them in some fashion—at least not all day. Sometimes, especially when it’s extra chilly, you just want to chill. Summit’s menu includes tried-and-true ski-town favorites blended with creative options for light-adrenaline fare both indoors and out.  Make sure you check out all the "other" activities available in this spectacular resort community.  There's something for everyone!

Some speculation mortgage rates going up.

Realty Times - Mortgage Rates Reverse Course on Positive Housing Data

Rates are still low, but will they trend upward?   Buying property is a big decision and  If you would like to discuss timing of the market, please contact me.  

Colorado Creativity - Doritos Super Bowl Commercial

Two Coloradoans In Final Five

Why I love living in Colorado.


Two of the five finalists in the national Dorito's Super Bowl Ad competition have roots here.
Brad Scott and Nate Watkin of Denver created "Hot Wild Girls," and Justin Folk from Littleton helped create "Sling Baby."

"Everyone in the commercial is from Denver, even the dogs. We're the only top-five entrant from Colorado, or even the Midwest," Watkin told Westword. "Three are from California and the other is from Virginia, so we think this is a really big deal for the state and hope everyone will get behind us to help us win."

Let's all of us get behind these Coloradoans and vote for your favorite  Dorito commercial! 

Is Real Estate in the Denver Metro area moving towards recovery?

December 2011 Stats

Denver Metro Single Family Housing Stats	Denver Metro Condo Housing Stats
Active Listings: 8,854 Down 37% from Dec. ‘10 Under Contracts: 2,253 Up 6% from Dec. ‘10 Solds: 2,531 Up 5% Dec. ‘10 Average Price: $275,610 Even from Dec. ‘10 Average Days on Market: 107 Down 4% from Dec. ‘10	Active Listings: 2,139 Down 50% from Dec. ‘10 Under Contracts: 579 Up 3% from Dec. ‘10 Solds: 625 Up 4% from Dec. ‘10 Average Price: $166,420 Even from Dec. ‘10 Average Days on Market: 106 Down 20% from Dec. ‘10

The big headline these days in the Denver real estate market is the massive drop in inventory (homes for sale) over the past couple of years. 

It is all about supply and demand.   Supply = the inventory of homes on the market. Demand = the number of buyers looking for homes. Currently, supply is at a 12 year low. In 1999 when supply hit its lowest point in a decade, prices began rising simply because supply couldn’t keep up with demand. Prices rose for about 8 years until inventory reached over 27,000 properties in 2007. At that point in the housing cycle supply surpassed demand, causing prices to begin to fall. Simple economics.

Compare the 1999-2007 housing cycle to today’s environment. We currently have a 12 year low in inventory – just as we had in 1999. As in 1999, there is simply not enough inventory to keep up with demand. When I work with buyers we have to look long and hard to find quality properties. This is very different from a few years ago when supply was high. Sellers are starting to understand that the tables have turned (in the under $300k market) and are holding firm on prices and bargaining harder on concessions and inspection items. The market has changed and we have to be quick to adapt.

The imbalance between supply and demand has already affected the market. In the past 12 months the price of homes under $85k has risen a massive 19%. Homes between $85k and $135k are up 10%. Homes from $135k - $210k are up 6%. It’s only when you get to prices above $300k that prices are still dropping (down 13% for homes priced above $460k).

 The key to buying or selling a property successfully is to understand what the market is telling us. Right now it’s telling us that there are not enough homes on the market in the under $300k segment and the market (i.e. sellers) is responding rationally to this change. Please feel free to call  me (970-470-2572) or email to discuss this further and see how you can make this market work for you.