There 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:

Share This

With 24,489 houses on the market in the Denver area as of the end of January and only 2,987 closings, is the successful sale of your house a roll of the dice? The answer is a resounding “No”. While there are certainly no guarantees, you can turn the odds in your favor by completing the followings steps.

1. Declutter– We’ve heard it dozens of times on the home shows and you will hear it from your Realtor and Stager. The less clutter, the larger a home feels and the less people will be distracted by your “stuff”. We want them to picture themselves in your fabulous home. Pull out the boxes and pack anything you won’t need for a couple months, including those precious family photos, to create open space on walls, counters and shelves.

2. Clean– Before your house goes on the market, do the spring cleaning. It’s time to wipe the baseboards, wash the windows and have the carpets professionally cleaned. If a buyer comes in and sees dirty light switches, it turns them off. Professional cleaning services are available for a one time deep clean. If you don’t have the time, hire a professional. It may cost you now, but you’ll reap the benefits of a sold house later.

3. Paint– It’s just like buying a new car and getting the first ding, when you paint, it is inevitable that you’ll bump the wall with furniture or the dog will rub up against it. If your walls have a few scrapes, get out the brush and repaint it. Once again, it will take time, but paint is relatively inexpensive. It contributes to the clean feeling that a buyer will experience when they walk in. If you have any odd colors, repaint the walls neutral. To get some idea of what buyers are looking for, you can take a tour of new model homes or check with your Realtor.

4. Replace Burnt Out Bulbs– Buyers love light and you can create an open and light filled space by replacing burnt out bulbs and turning on the fixtures in each room.

5. Price it Right– This is the biggest contributer to whether or not your house will sell. Forget what your neighbors house sold for last year because it is a new market and your home may have experienced a drop in value. Your Realtor will run a comparative market analysis. It is critical that you price it at, or even just a little below, where other similar homes have sold.

6. Get it Done Before the Showings Start– Once people have made the decision to sell, they usually want the house on the market right away. But, we want to make sure every buyer sees the home in its best condition. If you need two weeks to get everything done, wait before opening it to buyers. We can put up a coming soon sign until you are ready. This also gives your Realtor time to get the photographer through and provide professional brochures that will highlight the features of your house.

7. Every Showing Counts– Having your house on the market is inconvenient and frustrating at times. But when the office calls to schedule a showing, say “Yes” whenever possible. Buyers have a variety of schedules and it’s important that we accommodate them. In my experience, the majority of buyers will never return after a showing time has been turned down.

8. Hire a Professional– Marketing your house is critical in this market. Since most buyers are finding their houses on-line, make sure your Realtor has a strong internet presence. The more people who see the photos of your house, the better chance it will sell, especially if you have completed all the above steps.

Whenever I take a listing, the first person I call is my preferred stager. She visits the house at no cost to the seller and makes recommendations on how best to stage the home. Sellers then paint, add table settings and get rid of the clutter. While each house may not look like a show home, just a few simple changes can make a big difference.

Take these steps and increase your odds that you will be successful in putting your home in the SOLD column.

Share This

President Bush signed the Economic Stimulus package on Wednesday and the impact for Colorado is yet to be determined. At this time it looks like Boulder may be the only area with a median home price high enough to gain an increase from the current $417,000 limit.

1. Loan limits will go up in metropolitan areas with high housing prices. Most experts are estimating that will occur in only 20 of 160 metropolitan areas.

2. The higher loan limits expire at end of the year. With HUD having 30 days to establish where the increase in loan limits will occur, it will be the middle of March before this is set. That will give borrowers about nine months if Fannie Mae and Freddie Mac have a process in place to purchase those loans.

3. The increase in the FHA loan limits may or may not reach our area.

It’s yet to be seen whether or not more borrowers in Colorado will see more of a benefit than the rebate checks. I’ll keep you posted.

For further thoughts and comments from bloggers, visit:

Business Week

Bloodhound Blog

Share This

Fourth quarter real estate statistics show that Highlands Ranch and Lone Tree are continuing to average a lower absorption rate in comparison to other featured areas, which can translate into quicker home sales. North Jefferson County’s absorption rate is also lower in this current quarter. During the third quarter we had three areas identified as a Buyers Market. This quarter, we are up to eight areas. Buyers tend to shy away from purchasing a home during the holidays and that may explain the increase.

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 a 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:

Share This

“You know, your Dad and I almost bought that land years ago. Just imagine what it is worth today.” My mom said that every time drove by land along Parker Road just of I-225. That was more than a few years ago when my sisters and I were growing up. Is this year’s housing market one where we may look back and wish we woulda made that decision to buy? 

When I listen to the Sunday financial shows one person will tell us that we’ve hit bottom and the time is ripe to buy. The next “expert” will tell us that the housing market still has a long way to drop. There are more mortgages that are going to be adjusting this year and some families will be hit hard. However, the new federal tax rebates are coming this summer and a quick three quarter point drop by the feds this week may begin the turn around. So, what should we do?

That depends. (Don’t you hate that kind of answer? It happens to be the right one in every housing market.)

What are your circumstances?

If you have a house you need to sell before you can buy another, it may be time to hold if there isn’t enough equity in the property to actually walk away from the closing table with enough to buy a new one.

If you are looking to buy a home and plan on staying in it for a minimum of three to five years, it’s probably a great time to buy.

I suggest meeting with your family members, real estate professional and financial advisor to talk about whether or not the time is perfect to begin looking for a house you can make your home.

Don’t let the woulda, shoulda, couldas catch you if now is the perfect time for you to buy.

Give me a call and let’s chat.

Share This

Here is a summary of December 2007 sales in the Bonnie Brae and Belcaro neighborhoods. The east and west boundaries are Colorado Boulevard and University Boulevard and the north and south streets are E. Exposition Avenue and E. Mississippi Avenue. It is a wonderful neighborhood with a eclectic selection of homes. From historical homes to custom contemporary construction, the neighborhood offers something for everyone. The neighborhood is within walking distance of restaurants, shopping, parks and transportation routes.

If you missed out on purchasing one of these fabulous homes, there are 34 other homes currently on the market in the Denver Bonnie Brae/Belcaro neighborhoods ranging in price from $330,000 to $3,495,000. If you’d like to get your house on the sold list so you can move on to your next adventure, or to purchase one of the available homes, I’d be happy to help. Give me a call.

Share This

Here is an overview of December 2007 home sales in the Lowry neighborhood. The area is generally located between Yosemite Street (east) and Quebec Street (west), E. 11th Avenue (north) and Alameda Avenue (south). There is a small pocket that juts out to the west side. The Lowry neighborhood was developed as a result of the Lowry Air Force Base closure. It is a wonderful community that has a variety of parks, the Lowry Town Center and neighborhood activities that are scheduled year round.

Lowry living opportunities range from historical homes that have been renovated to areas still waiting for the soil to be turned before construction begins. The Lowry neighborhoods are within walking distance of restaurants, shopping, parks and transportation routes.

Share This

The Lowry neighborhood is continuing to grow with lots of opportunities for new buyers interested in the area. Here is a look back on October 2007 home sales in the Lowry neighborhood.

The area is generally located between Yosemite Street (east) and Quebec Street (west), E. 11th Avenue (north) and Alameda Avenue (south). There is a small pocket that juts out to the west side.

The Lowry neighborhood was developed as a result of the Lowry Air Force Base closure. It is a wonderful community that has a variety of parks, the Lowry Town Center and neighborhood activities that are scheduled year round.

Lowry living opportunities range from historical homes that have been renovated to areas still waiting for the soil to be turned before construction begins. The Lowry neighborhoods are within walking distance of restaurants, shopping, parks and transportation routes.

Share This

What were you doing between 7pm and 9pm on Thanksgiving Day? While I was relaxing after a wonderful meal with family members and friends, the bad guys were stealing things from cars in the Lowry neighborhood. How do I know that?

The Denver Police Department and Global Information Systems Department have developed interactive crime mapping software that is available to all of us.

Want to know what is going on in your neighborhood?

We can search by address, crimes occurring near parks, schools or libraries and also by neighborhood. Our search gives us a community map with reported crimes.

If we scroll down further, we can find specific crimes that were reported by date, time and location.

How does this help us? In a couple of ways.

We’ll know what to keep an eye out for on specific suspicious activities. If I’m aware that criminals are stealing things out of cars, I will look closer when I see a person or people around a car in my neighborhood that don’t look familiar.

If I’m looking to purchase in a particular community, I can check out the facts before I buy.

If you haven’t had a chance yet, check out this valuable information that has been provided to us by the City and County of Denver. It’s a great way to learn something new about your community and to use that information to make a difference.

Denver Crime Offenses Website

Share This

Step into a house where the colors and wonderful floor plan welcome you into what may become your new home. The living room and family room share a double sided fireplace. With separate areas, one person can be sipping a glass of wine and enjoying a good book, while another enjoying the excitement of a good game on television. The main floor features fabulous hardwood throughout. The family room is open to the kitchen creating lots of open space for entertaining family and friends. The cook will love the kitchen with plenty of room to create masterpiece dishes. The oversized deck outside will even further expand the living space. There is room for a barbecue, dining space and still more room to play.

The master suite is a great getaway from your busy day. There is plenty of room to relax and enjoy a little solitude.

This home is move-in ready and decorated in neutral colors to provide a beautiful backdrop to your furnishings.

The home is located within walking distance of schools, parks, the recreation center, shopping and dining. The Highlands Ranch community sponsors a large number of neighborhood events. This makes it easy to meet new friends and to become an active part of this vibrant community.

Three Bedrooms
Three Bathrooms
1490 Square Feet
Air Conditioning
Beautiful Natural Light
Hardwood Floors on Main Level
Open Basement for Storage
Custom Paint Colors
Two Sided Gas Fireplace

All of this for only $260,000.

If you’d love living in a neighborhood that is close to everything and in a house that feels like home, this is the place. Give me a call and I’d be happy to show it to you. I can be reached at 720–260–3133.

Share This

Have you spent the last few years sorting through building plans looking for the home of your dreams? If you love Denver and would like to make your dream home a reality, here is your chance.

Located just around the corner from Eisenhower Park in Denver, this 10,000+ SF corner lot is just waiting for you to break ground. The University Hills neighborhood is one of the Denver hot spots for redevelopment. You’ll find a variety of homes from the standard 1950’s ranch to $1M+ modern and contemporary styles. Don’t miss this wonderful opportunity to live in a vibrant neighborhood within walking distance of restaurants, shopping, schools and Eisenhower Park. It is also convenient to trails and transportation routes.

The right buyer can either jump into construction, or spend some time living in the small home currently situated on the property while they draw up the final plans.

Priced at only $350,000, this amazing lot will not last for long. Drive by 4500 E. Dartmouth Avenue and give me a call at 720–260–3133. I can’t wait to see your new home transition from a dream to reality.

Share This