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Monday, January 30, 2012

Some speculation mortgage rates going up.

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.  

Sunday, January 29, 2012

Colorado Creativity - Doritos Super Bowl Commercial

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! 

Saturday, January 28, 2012

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. 

Wednesday, January 25, 2012

Breckenridge: Ready, set, sculpt!


The first competion in Breckenridge began in 1990 and every year it is amazing to see the imagination of the sculptors take shape from a single block of snow that's about 6 to 15 feet on each side. 
Judging is at 10 a.m. on Saturday, January 28. An event not to be missed.

Friday, January 20, 2012

The economy is off to a fast start in 2012

"There's no doubt that the economy is getting better; we just shouldn't get carried away," Mark Vitner, an economist at Wells Fargo, said. "We haven't shifted into a higher gear." 
Adding to the optimism for our economy:

  • Applications for unemployment benefits near a four-year low.
  • Inflation remains low
  • Business travel is up 
  • The housing market is showing slight gains after three dismal years.
  • Companies are hiring more
  • Consumer confidence is up
  • More people are buying cars 
  • Factories are making more goods
  • Bank lending is on the rise

Wednesday, January 18, 2012

More Folks Calling Colorado Home

Colorado Top Spot for Relocation
More than 300 days of sunshine a year, a low cost of living and the great outdoors - just a few of the reasons people are moving to Colorado from other states. 
It really is true that Colorado is a great place to Live, Work, and Play.  Just ask the 25-44 age group, Colorado is ranked number one for relocation in that segment of the population.

Monday, January 16, 2012

Top 10 Housing Predictions

RE/MAX Co-Founder Sees Good News for Homebuyers and Sellers
“Interest rates will remain at or near historic lows and home prices will stabilize and start to rise by the end of the year,” said Liniger “There’s no question, the housing recovery will be slow and steady, but for many cities the turn-around is already happening.”   
 Top 10 Real Estate Predictions for 2012 are:

  • 1. Continued low interest rates
  • 2. Home prices stabilizing and starting to rise
  • 3. Increasing numbers of home sales
  • 4. Rising inventories, mostly due to increased foreclosures
  • 5. Distressed properties will make up about half of all sales
  • 6. An improved Short Sale process to help avoid foreclosure
  • 7. Homeownership rates continue to fall
  • 8. Foreign and domestic investors will buy 25% of homes
  • 9. Increasing reliance on real estate agents
  • 10. Increased use of Mobile and Social technologies

From my perspective the evidence is clear that Low and moderatly priced homes in the Denver area have turned the corner and prices are gently rising.  You will be surprised at how much you can afford with today's low prices and low interest rates.  If you think you are ready for a new home, or a dream home in the mountains, contact me.

Saturday, January 14, 2012

Experts Say Housing Market is Improving

What's in Store for Housing in 2012?
The worst for the housing market may finally be over, according to housing experts in a recent article in Kiplinger. After median home price have dropped nearly 40 percent nationwide, a rebound is taking shape -- although, housing experts say, the market may stay flat for awhile before gradually ticking up.
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.

Thursday, January 12, 2012

Bronco Playoff Game Good for the Ski industry

It's long been thought that a Nationally televised Bronco Game playing during a snowstorm helps the Colorado Ski Industry. The state ski industry wisdom holds that reservations generally rise after the Broncos play in the snow

 This past weekend viewers of the Broncos v the Patriots Playoff game were treated to numerous videos, provided by Vail resorts, featuring skier and boarders enjoying the fresh powder in hopes of increasing bookings.  It seems that paid off.  The Vail Valley Partnership's "Vail on Sale" website saw a 15 percent jump Sunday and Monday over the same Sunday/Monday in 2011.

Monday, January 9, 2012

Sunday, January 8, 2012

Snow Hits the High Country

Long-awaited snowfall finally arrives in the High Country | SummitDaily.com

Finally, Snow hits the ski resorts and Broncos are in the playoffs!  Could life get any better.

Friday, January 6, 2012

Should you buy a home in 2012?

published on Dec 22, 2011 by CNNMoney

With the housing market stabilizing and interest rates low, 2012 could be a great opportunity to buy.  If you would like more information on the Denver-Aurora metro area or properties in the mountains visit my website or contact me directly. 

Thursday, January 5, 2012

Unique Attraction in Silverthorne

A rare opportunity to see  Artist Brent Christensen's imagination at work.  Be sure and check his blog for information on tickets and time, and don't miss the opportunity to view the photos and videos included, absolutely breathtaking.  The  Ice Castle is  located at the Town Pavilion in Silverthorne.

Wednesday, January 4, 2012

This Month in Real Estate (US) January 2012

Great reasons to list your house now instead of waiting for spring.
Traditionally home buying season starts in the spring. And for many good reasons, but if you want to be ahead of the crowd, now is the time to list your home.  If you need information about listing your home, please contact me.

Tuesday, January 3, 2012

A Mountain Gem

When my wife and I first moved to Summit County in the middle 70's, the Town of Frisco had a little dirt road going down the middle of Main Street.  Now Frisco, is surrounded by four ski areas and is a year-round destination resort community.  Winter sports abound in Frisco, from the Frisco Adventure Park, to cross country skiing on endless trails, or  a shopping trip down Frisco's Main Street, there is something for everyone. This is a  community that welcomes visitors and locals alike.

Monday, January 2, 2012

New Home sales Numbers are Up

Some Good Signs for the Real Estate Market

According to the Census Bureau, New home sales coninue to rebound, up by nearly 10% compared to November 2010.  Does this meant that the Housing market may be intering recovery mode?
"Inventories of new homes are very low: There's nothing on the shelf, so any increase in new home sales will translate directly into new housing starts," Bob Denk, senior economist at the National Association of Home Builders, told CNNMoney. "That means putting people back to work."