Archive for the ‘Denver Real Estate Market’ Category
Denver Home Prices Aren’t the Whole Story – Don’t Forget About Rates!
Thursday, March 3rd, 2011It seems these days like all people can talk about are homes prices. “Have we hit bottom?”….”How fast will they rebound?”…”If I wait a year to sell, will I make more money?”. Most often, what we find lost in the shuffle is any serious consideration of our still amazingly low mortgage interest rates. For many home buyers (and those wishing to sell and ‘move up’) the current interest rates need to be a major consideration in their decision-making process. Check out this graphic from the Keller Williams blog post, ‘How Rising Interest Rates Will Affect Affordability‘.
You can see clearly the impact of the interest rate vs. price on a monthly payment. In a recent post on InsideRealEstateNews.com, Denver real estate blogger John Rebchook makes the same case for this calculation. He provides another example:
A rule of thumb is that a home has to drop by 10 percent to make up a 1-percentage point increase in interest rates. In other words, if you want that $400,000 home at the same monthly payment at 6.25 percent as at 5.25 percent, the seller must shave $40,000 off the price and sell it for $360,000.
For even more eye-opening statistics, also see our recent blog post entitled ‘Is it REALLY a Good Time to Buy a Home in Denver?‘
If these numbers are making you reconsider putting off a home purchase or moving up to your dream home, we can help you do an analysis of your own specific situation. Call Wendy at (303) 808-0239 or contact us via email.
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Denver Real Estate Search | Denver Relocation Specialists | Denver Home Values
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Stats That Matter – What You Need to Know About Denver Real Estate Statistics
Wednesday, February 16th, 2011
If you like to keep an eye on the performance of the Denver real estate market, you may be overwhelmed by the complex and sometimes conflicting data you hear about in local newspapers and television headlines. We have prepared this handy guide to help you interpret what you are reading and hearing, and specifically target the information you must have to stay informed and make smart real estate decisions.
One of the most important factors to look at when interpreting a particular statistic is how large the area is that is being reported on. For example, statistics based on the entire U.S. real estate market will clearly be valuable only on a very macro level. Examples of these types of statistics can be found in stories such as this and this. If you are looking to buy or sell, for example, a Capitol Hill condo between $100,000 and $200,000, these types of national real estate statistics probably will not help you determine the best timing, pricing or your chances of selling quickly.
When you hear about Denver metro area housing statistics, these will be much more relevant as overall trends for our market. Examples of Denver market statistics include this and this. Rather than trying to keep up with and sift through this local data, you can also let the top Denver Realtors at The Bibeau Group do the work for you and simply sign up to receive one of our regular updates such as:
• Denver real estate email updates
• Facebook – Real Estate Denver
• Denver Real Estate Blog
• Denver CO Real Estate – Twitter
However, these stats are still not going to be enough to make decisions about buying or selling a particular home. For this purpose, you will be best served getting in contact with your Denver CO Realtor to request detailed Denver neighborhood real estate statistics, such as those below.
• Average list or sold prices – based all homes for sale or sold in a given area
• Price per square foot – quick view of the prices in your area broken down by square foot, sometimes a more useful number than average price
• Number of active listings/inventory – your competition
• Sales pace (absorption rate) – how fast homes are selling
• Under contract –homes that will be closing in the near future
• Average days on market – how long is it taking homes to sell
• Expired listings – what didn’t sell and at which prices
• Average seller concessions – money that sellers are paying to buyers for closing costs and other fees that is not accounted for in sales price
• Distressed sales – how many short sales and bank owned properties are selling in your area
• Percentage of homes with particular upgrades/features (i.e. new kitchens, 3-car garages, other parking, remodeled, etc)
How can you access this type of detailed information? If you are seriously considering putting your home on the market in the next three months or less, or have a specific home in mind to purchase, call us and we will prepare a market analysis for you. Along with an estimate of value, you will receive a breakdown of statistics such as those above to help you make your decision. If you will not be buying or selling in the short term, but would still like to track trends in your neighborhood or an area you might like to purchase in the future, our Denver Metro Market Snapshots are a great tool. Once you sign up, you will receive a monthly, detailed analysis of your area via email.
Now that you know a little bit more about Denver Real Estate statistics, please follow up with any questions or comments!
Greenfield Neighborhood, Centennial/Aurora CO – Real Estate Market Report
Wednesday, October 13th, 2010
The most recent Greenfield Neighborhood Real Estate Market Report has just been posted on our website. Highlights include lower average days on market than the previous quarter, and higher average sales prices and price per square foot.
Greenfield is a community of approximately 700 homes in southeast Aurora/Centennial, Colorado. The neighborhood includes a small area with townhomes, but is mostly single-family housing. There is a beautiful community pool and clubhouse, a playground, and a greenbelt winds through the community. It is also within the highly-regarded Cherry Creek School District.
Greenfield subdivision real estate market report
Homes for sale in Greenfield, Aurora CO
Greenfield Facebook Group
Greenfield Real Estate mailing list
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Denver Real Estate Search | Denver Relocation Specialists | Denver Home Values
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Is it REALLY a Good Time to Buy a Home in Denver?
Saturday, August 21st, 2010When a statement almost becomes cliche, people naturally start to question its validity. I’m sure you’ve heard many of us in the real estate industry saying, “It’s a great time to buy!”. Sure, interest rates are low and prices are down in general…but many people in these economic times need more information in order to make that leap. At the Keller Williams Denver Tech Center monthly team meeting this week, our fantastic in-house lenders, Oxford Mortgage, presented two charts that lay out some pretty compelling evidence that it really IS a good time to be at least considering purchasing real estate.
First, a look at the impact of the amazingly low interest rates on the monthly payment for a $400,000 house. $500 is a huge amount, especially considering the ‘before’ rate of 6.27 really isn’t that bad in a historical context.
And, this is the one that might surprise people even more. Take a look at how Denver Real Estate has performed in comparison to other common investments over a 10-year period.
Of course, these statistics don’t account for all of the factors that come into play when making the decision to purchase real estate. However, they are quite striking. What do you think?
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Denver Real Estate Search | Denver Relocation Specialists | Denver Home Values
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Denver Neighborhood Real Estate Value Reports
Wednesday, March 31st, 2010
“How is the real estate market doing?”
Since this is the one question we are asked the most, we started thinking about the best way to answer this basic, yet fairly complex, question for our clients.
We now offer an easy way for you to see exactly what is going on where it matters to YOU — in your neighborhood. This Denver Home Value Report system taps into live Denver MLS market data (the same information we use to determine values for our buyers and sellers) and provides you with graphical reports of prices, inventory and trends, tailored to your neighborhood and area of town.
These Denver area neighborhood real estate reports answer many pressing questions, such as:
* What is the supply of homes for sale in my neighborhood?
* How fast are homes selling right now?
* How do actual selling prices compare to listing prices?
* How do these trends affect my home’s value?
We really can’t think of a reason NOT to sign up for these Denver Home Value Reports – we even started using them for our own neighborhoods! If you’d like to start receiving these complimentary reports, just sign up at our Denver Homes Values website (it takes less than a minute).
Denver CO Home Values | Aurora CO Home Values | Parker CO Home Values | Littleton CO Home Values | Centennial CO Home Values
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Denver Real Estate Search | Denver Relocation Specialists | Denver Home Values
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New Denver Real Estate Blog
Thursday, March 25th, 2010
Hello! Welcome to our new Denver Real Estate blog. We have been blogging on other sites for the past couple of years, but decided it was time to blog on our own site. We will use this space to provide you with up-to-date Denver real estate information, trends, commentary, and resources. We encourage you to interact with us as often as possible – ask questions or add your own opinions about the discussions. Thanks for reading!
