Denver Is Best City, Again
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Forbes Magazine: Latest to pronounce Denver as "number one."
Where would you like to live? For many years independent surveys have asked that question and it seems like the answer was always somewhere on the coast. Seattle or San Diego were most often mentioned. Now, Shangri-La has moved inland.
Two more independent surveys have now ranked Denver the most desirable city in America. Maybe that’s why in the midst of this recession, the Denver real estate market has held up better than most and is even showing signs of recovery. The latest to surveys show that most Americans would rather live in Denver than any other place in the United States. As a Realtor working in Denver since 1978, I’ve often extol the virtues Read More→
10931 E. Progress Drive, Englewood, Co
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10931 E. Progress, Englewood is near Cherry Creek High
A classic Tudor style home is commonplace in some of the best neighborhoods near downtown Denver like Hilltop, Park Hill and Bonnie Brae. But to find a detailed Tudor near Greenwood Village in the Cherry Creek School District is very rare.
This home was built in 1982 to be the builders own residence. But, it has the details you expect to find in grand, “period-Tudor” from 70 years ago. You would also expect it to be priced way above $739,900 for 6 bedrooms, 6 baths and a three car, side-load garage. Take a cook inside this beauty. Read More→
May 2009 Home Sales
By · CommentsBy Lon Welsh, Real Estate Broker and Statistician
Throughout the entire Denver metro area, May 2009 sales results for detached, single-family homes (DSF) were very similar to the trends we have seen all year.
Price highlights:
- - The average sales price increased from April to May, as it usually does
- - The average price is down 8% in 2009 vs. first five months of 2008
- - The 2008 vs. 2009 price gap was very high in January and February; it has been smaller in the last three months. This is probably an indicator that pricing is starting to firm up
- - The largest 10% of the homes (those with more than 2875 square feet) saw prices drop 17% in the Jan-May 2009 vs. Jan-May 2008. The smallest 10% of homes (those under 910 sq ft) only dropped 2% in that time period. Still, larger home prices dropping less than they have recently.
Realtor Teach-In
By · CommentsBy Larry Hotz, Senior Editor ADRE
There is a new phenomenon for real estate agents sweeping the country. It’s called REBarCamp. It’s very difficult to explain, really. Imagine a cross between the Teach-Ins of 1960’s and a Real Estate Convention.
Denver's first REBarCamp was a lesson to Realtors about how to use social media.
Over 300 Denver Realtors joined a dozen or so national speakers for Denver’s first REBarCamp last month. The purpose was to bring together Realtors to hear, present and discuss this new phenomenon of social media. How can social media benefit realtors and consumers alike? Read More→
Future of Mortage Lending
By · CommentsBy Dennis Martin, Littleton Colorado Real Estate, and Kerry Phillips
Kerry Phillips, a leader in the Denver mortgage industry for many years.
(Dennis: ” I have known Kerry Phillips for over 30 years. He has been a leader in the mortgage business and and always a straight shooter. I appreciate his candor and helping me with this article)
Bill and Sue are sharing a cup of coffee and looking around their cramped and dingy apartment and wonder if they will ever be able to buy a home. They have saved a little money for a down payment. They have paid the current bills on time, and they can afford payments that are a little higher than their rent. They would love to take advantage of some of the incredible values that are on the market right now.
But, as they read the paper and watch the news, all they hear about is how the credit markets have dried up, and how there is no money available to borrow. They marvel at how bad their timing has turned out.
So, is that really the true story? No! There is all the mortgage money available that is needed. Read More→
Carbon Monoxide Detectors
By · CommentsBy Carl Brahe Certifed Housing Inspector, CCI
Carbon monoxide detectors are about to be required in Colorado.
I came home one afternoon. There was a strong smell of smoke. The wood stove chimney pipe had become clogged with creosote. My wife lit a fire in the stove. When smoke began to leak from the stove pipe joints she poured water on it to douse it and threw the smoking logs outside.
When I came in she was giddy and seemed confused. The dog was unresponsive. When I made the dog get up and go outside he refused to come back in. They were suffering from the early phases of carbon monoxide poisoning.
Castle Pines Market Report
By · Commentsby Doug Hutchins, Castle Pines North Realtor
Doug Hutchins sells homes in Castle Pines North and Douglas County
The average sales price in the 1st quarter of 2009 for a single family home in Castle Pines North was $477,700 compared to an average sales price for 2008 of $534,618, a 10.6% drop. HOWEVER, because the square footage of homes available in Castle Pines North can very widely, this average can be skewed by several large home sales (or lack of large home sales). Therefore, I also look at the average price per square foot to determine value changes.
During the 1st quarter of 2009, the average sales price per square foot was $168.74 compared to $180.01 for 2008, which is a 6.3% decrease. Even within the small city of Castle Pines North, there are neighborhoods that out perform and under perform these averages, so please contact me if you would like specific information for your neighborhood.
Supply of Homes Drops
By · Commentsby Lon Welsh, Your Castle Real Estate
Lon is a statistician, Denver Realtor and a great Dad.
Supply and demand rules every market including real estate. Too often, we only discuss the demand for homes. How many homes sell every month is important. But, equally important is how many homes are for sale in proportion to how many sell. That ultimately determines the direction of prices.
The overall inventory of homes available for sale has been declining for over a year in the Denver real estate market. We currently have five months of inventory. Here’s how that works: Read More→
Denver’s Leading Home Defect
By · CommentsBy Carl Brahe, Certified Home inspector, CCI
In Denver, downspout water can lead to foundation trouble
Damage from water is responsible for 85% of all money spent for home repairs in this country. Much of this damage is caused by uncontrolled runoff and misguided landscape irrigation. Nearly every home I inspect and Denver area has conditions where water outside is a potential danger to the foundation and structure of the house.
Uncontrolled water from runoff, or from misguided or damage irrigation, also threaten sidewalks and driveways. Much of the damage caused by the uncontrolled water can be avoided by simple fixes. Read More→
Pedestrian Neighborhoods
By · CommentsBy Larry Hotz, Senior Editor
Are you an avid pedestrian? Do you like to walk to the grocery store, the dry cleaners and the coffee shop without venturing too far from home?
Lo-Do in Downtown Denver
If you are an avid pedestrian, there’s a new website that ranks neighborhoods based on their “walkability”. It might help you find a “walker-friendly’ neighborhood where you’d like to live. WalkScore uses a mathematical formula to rank neighborhoods based on their walkability. Read More→