Real Estate Information

For 1 out of every 45 Colorado households (or 40,000 families), 2007 was a stress-filled, heartbreaking year. These were the families who lost their homes (for varying reasons) in foreclosure.

For those who lost their homes in this way, their emotional reactions to the event often led them to take everything of value that they could from the home - appliances, light fixtures, wiring, carpet, and more. Some even felt so angry at the bank repossessing the home that they inflicted damages on the house in retaliation. Every foreclosed home has some kind of story like this and you feel for the previous owners.

As we all know, though, one person's heartbreak is another's opportunity. And, here in Denver, incredible opportunities still abound in the foreclosure market. Buyers and investors for these kinds of homes will find opportunities that span the gamut. Some homes will be in good shape and require minimal repairs for move in, while others will have so many missing parts and  damages it will require a close, careful evaluation of repair/rehab costs for use in determining final purchase price.

If Denver foreclosures are of interest to you, I am here to help. Just call me at (303)956-5292.

Yahoo! The number of homes sold nationwide in February reversed a 6-month string of declines. In fact, existing home sales went up by a good 2.9% (for the year, that equates to 5.03 million housing units!).

Despite this nice little turnaround in the home sales trend, economists with the National Association of Realtors (NAR) are still keeping their eyes on the second half of this year when signficant recovery is expected.

What will fuel that recovery nationwide and here in the Denver and Parker metro market?

Many say much of this recover will be due to:

• Higher loan limits
• Monetary and fiscal stimulus packages
• Continued price declines due to the natural housing market corrections

What do you think? Feel free to post your comments here.

According to the Conference Board, an independent research group, the consumer confidence index fell from 76.4 in February to 64.5 in March. This low confidence rating surprised many analysts who were expecting a much higher number.

What impacts this confidence rating? Well, it ties directly to how consumers view general business conditions, the job market, and their prospects for a good income.

In Colorado, many of these conditions are actually in quite a favorable place and our local economy is continuing on an upward trend. Job prospects are good, our real estate market continues to hold steady, and we are no longer a leader in number of foreclosures - we now fall somewhere in the mid-range for all the states.

According to the Colorado Division of Housing, statewide apartment vacancy rates continue to fall. At the end of the 4th quarter 2007, the apartment vacancy rate had dropped to 8.6% - compared to the 10.4% rate in December 2006.

Average monthly rents also continue to increase across the state.

If you are a current Colorado real estate investor, or a first time investor looking for the right window of opportunity to jump in, now is a great time to make the purchase. Low apartment vacany rates and rising rents create a remarkable environment for your residential rentals.

Colorado investment real estate is one of my passions and specialties. It would be my pleasure to help you find the right investment that meets your financial objectives.

Parker's citizens wanted it and the Parker Town Council has responded. Recently, the Council adopted a resolution to establish a Sister City Affiliation Policy.

Sister cities programs such as this deliver wonderful benefits to the international communities participating in them. Beyond just a "pen pal" type of relationship-building activity, Sister Cities programs foster enriching human contact and valuable exposure and learning from other cultures. Parker's sister city effort will ultimately pair the town with another town in a distinct geographical area in another country.

If you have a fascination with other cultures and ethnicities, or a passion for business, government, international relations or just want to enrich your horizons, you will want to attend the informational meeting that will be held at the Parker Town Hall.

MEETING DETAILS

WHERE: Parker Town Hall  / 20120 E. Mainstreet  / Parker, Colorado

WHEN: February 20, 2008 at 6:30pm

FOR MORE INFO OR TO VOLUNTEER: Call J.D. McCrumb (Special Projects Coordinator) at (303)805-3144

My residential buyer, seller, and investor clients often ask me what I foresee happening in our Denver metro market. My short answer is that things are actually looking pretty good for everyone.

Lawrence Yun, who serves as chief economist for the National Association of Realtors, recently provided an upbeat outlook on real estate in our region. He shared that a combination of a strong job market, affordability of homes, and a decline in new home building have all partnered up to deliver a nice recovery trend to our metro area.

Mr. Yun then commented that we can expect these healthy trends to remain tempered by continuing foreclosures and buyer pessimism. Regardless, he believes we should expect the Denver market to exceed the national market as a whole in home appreciation for 2008.
My personal take on these two sides of the coin is that we have a very nice economic recovery trend happening here - it's not coming on too fast, nor too slow. There is VERY low risk in our market right now for a decline.

Our metro Denver homes market is also now serving up a diverse array of opportunities:

For Sellers with good properties, it is very possible to get top dollar on your home. There is very little bargaining happening on good, well positioned, well marketed properties.

For Buyers - especially 1st time home buyers, great deals and foreclosure can still be found on homes and condos. There are many pockets of opportunity here in the south metro Denver market for you to seize.

For Investors seeking solid Denver income properties, this one of the most perfect times to invest in this market. Rents are climbing, vacancy rates are dropping, and there are deals out there that many investors haven't seen for years.

I specialize in the southern region of the Denver metro market - Parker, Castle Rock, and surrounding areas. Please call me with any questions you may have about how these trends are affecting local real estate.