Archive for May, 2008

1001 Things to do in Colorado- #3 Whitewater Rafting

Tuesday, May 13th, 2008

Whitewater raftingEven though it is the middle of May and I’m seeing snowflakes outside my window, it is time to consider some fun things to do during the late spring and summer. One of the activities high on my list is Colorado’s Whitewater Rafting.

The water is usually very high and cold in the springtime. If you are an adventurer, you may want to consider booking your trip now. The heavy snow melt should begin in the next few weeks. Early in the season, it may be best to wear a wet suit so you and your family members stay warm. As we get through the summer and into the fall, the rafting becomes a warmer water adventure. Raft for just a few hours or a couple of days. Either way, it is a trip you won’t forget.

My last rafting trip was on the Arkansas River with a group of friends and we had a great time. There were peaceful stretches where we could relax and have a few laughs. Those were in between the times when it took everyone in the the boat rowing to keep it in the right channels of the river. It was a team effort with a great guide to keep us upright. If the river didn’t drench us, the water fights did.

I highly recommend Colorado Whitewater Rafting and that’s why I consider it to be one of the 1001 Things to do in Colorado. Lots of us are lucky to live here but visitors are definitely welcome!

Visit Colorado.com for the latest in Whitewater Rafting Adventures.

My signature

First Quarter 2008 Denver Area Residential Absorption Rates

Wednesday, May 7th, 2008

House in CartThere are no areas during the first quarter of 2008 that we would consider to be Seller’s Markets. We’ve moved into a neutral market in most residential areas, but this will change as the year moves on. Buyers will be aggressively negotiating in those areas that have increased supply on the market.

I have seen a marked increase in showings on my listings just in the last few weeks, so the spring and summer buyers are out and looking. This will change our report for next quarter possibly into more of a seller’s market in a few areas.

Considering Absorption Rate is one way to measure the health of our real estate market. Absorption Rate designates the number of months of housing supply on hand. The larger the supply, the more competition there is for sellers and the higher likelihood that prices will drop or concessions will be offered. The market has definitely slowed in the last quarter.

More Months of Supply = Buyer’s Market = Possible Reduced Pricing and/or Concessions

Fewer Months of Supply = Seller’s Market = Possible Price Increases and/or Bidding Wars

The commonly accepted separation between markets is:

Seller’s Market          1-4 months of supply
Neutral Market          5-6 months of supply
Buyer’s Market          7 months and above
 
Single Family Homes
 

Area

Jan 

AR

Feb

AR

Mar

AR

Avg.

AR

Market

Condition

Aurora North

 6.99

6.51

5.73

6.41

Neutral 

Aurora South

 6.12

6.36

5.23

5.90

Neutral

Broomfield

 9.54

 9.61

8.14

9.10

Buyers

Douglas Cnty West

 10.21

14.18

10.12

11.50

Buyers

Douglas/Elbert/Parker

 10.94

 9.73

8.57

9.75

Buyers

Highland Ranch/Lone Tree

 5.11

 5.17

5.37

5.22

Neutral

Denver Northeast

 7.25

 7.38

5.73

6.79

Neutral

Denver Northwest

 6.22

 6.58

6.28

6.36

Neutral

Denver Southeast

 9.99

10.64

9.03

9.89

Buyers

Denver Southwest

 6.49

6.85

5.91

6.42

Neutral

Jeffco Central

 6.86

8.56

5.12

6.85

Neutral

Jeffco North

 5.00

5.89

4.59

5.16

Neutral

Jeffco South

 5.23

6.86

5.60

5.90

Neutral

Jeffco West/Golden

 7.73

7.11

6.83

7.22

Buyers

Jeffco North Central

 6.54

6.74

4.42

5.90

Neutral

Jeffco South Central

 5.45

6.75

5.63

5.94

Neutral

 
 
 
Check out the average absorption rate in Northwest Denver. At 17.52 months of supply for the first quarter, it is tough to get your home sold. It may, however, be a great place to get a wonderful deal if you are looking to buy.
 
Condominiums/Townhomes

Area

Jan 

AR

Feb

AR

Mar

AR

Avg.

AR

Market

Condition

Aurora North

 5.57

5.71

5.89

5.72

Neutral 

Aurora South

 7.87

6.57

5.69

6.71

Neutral

Broomfield

16.0

 29.0

7.00

17.33

Buyers

Douglas Cnty West

 6.79

 9.83

 7.25

7.96

Neutral

Douglas/Elbert/Parker

 8.07

 5.36

 6.68

6.70

Neutral

Highland Ranch/Lone Tree

 6.09

 9.33

 8.61

8.01

Neutral

Denver Northeast

20.89

11.85

19.85

17.53

Buyers

Denver Northwest

10.08

8.44

16.44

11.65

Buyers

Denver Southeast

 9.76

10.30 

11.07

10.38

Buyers

Denver Southwest

 9.04

9.48

7.43

8.65

Buyers

Jeffco Central

 7.00

6.69

6.92

6.87

Neutral

Jeffco North

 3.36

8.00

7.33

6.23

Neutral

Jeffco South

 8.31

7.66

7.42

7.80

Buyers

Jeffco West/Golden

 6.89

4.82

6.67

6.13

Neutral

Jeffco North Central

 8.47

8.47

4.41

7.12

Neutral

Jeffco South Central

 6.88

7.86

5.95

6.90

Neutral

 
There are fewer homes on the market compared to prior years. It appears many prospective sellers are planning to wait this market out. Are we recovering? We are all keeping our fingers crossed and that may be the best we can do right now.
 
My signature