Real Estate Market Update

Update on the market- Rental and homes

Posted on Wednesday, August 15th, 2012 at 11:17 am.

What is the real estate market doing in Denver? Getting better! We are down over 38% in our active listings. The average sales price is up 6.97%. Average days on market is 65. If you want to sell your house this is a good time to do it! Stats come from Metrolist and are for July 2012.

Call us for more details.

Rentals are still strong. We have added new properties in Cherry Creek, South East Denver, and Lakewood. Call us if you know someone who needs to move.

We got some more kind words from a new client.

“Having worked with another management company in the past where I felt like I was doing their job for them, Stix and Stones and Tim Emery are a breath of fresh air. Constantly getting updates on my property status, tenants needs and market adjustments. If you’re looking for a company that understands you and your property are a priority and will treat you right, look no further!” Dave P.

If you want us to help manage your rental property give us a call!

Thanks,
Tim Emery, Lance Becker and Craig Becker!

303.770.2409

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Fed Announces LARGE TREASURY PURCHASE!

Posted on Sunday, November 7th, 2010 at 11:48 pm.

The Federal Reserve today announced its intention to purchase $600 Billion of 3 to 10 year treasury bonds between now and June 2011. Some of you may be wondering how the Federal Reserve purchasing US treasury bonds can do much..aren’t we just borrowing more money to buy U.S. Debt? The answer is no, the Federal Reserve actually just prints money to purchase these bonds, so they are not borrowing it. Don’t you feel better? The last time this type of monetary policy was used in bulk was during the late 70′s Carter administration when interest rates jumped to 21%. The Federal Reserve printing money is inflationary by nature…so the Fed apparently isn’t concerned with inflation and there are hints that the Obama administration may be lobbying for this type of inflationary policy to try and spur demand the old fashioned way…..just like the Carter administration did!

Now, how much is too much? The Fed doesn’t seem to ever get that right so a justified amount of fear is probably prudent. However, the Fed out competing to buy US debt means that there is more competition for US Mortgage Debt so interest rates are going to WIN BIG in this environment so get ready to BUY or REFINANCE with 30 years rates close or at 4.0%! That’s right, 4.0% or darn close to it is a possibility! You need to be ready to LOCK THOSE RATES so give us a call today and we’ll get your mortgage application started!

Helping our client’s get the best rate on their mortgage, or refinance without adding a bunch of unnecessary fees to your existing loan balance is how we add value to our clients and keep them for life. We’ll help you design the best mortgage program for you and give you all the options so you can choose what’s best for you, not what’s best for your mortgage broker. Check out our mortgage page today and start your loan application online if you want!

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September Improving, RATES ARE CRASHING!

Posted on Thursday, October 7th, 2010 at 11:16 pm.

Have you ever been in a situation where you say to yourself…things just can’t get any better? Well, if you’ve been in the mortgage business the last few month you’ve been saying it almost every day! The number of refinance applicatins is thru the roof and the average turn times for mortage underwriting has been increases to levels we haven’t seen in about 2 years. While most of this boom in mortgage business has been focused on refinance transaction, lenders have also seens an increase in purchase transaction in the Denver area and the real estate market numbers for September are showing those increases.

The total number of homes for sale in the Denver metro area actually decreased a total of 1.1% to 22,880 which doesn seem like a lot but if you compare to the numbers in July, we’re down a total of 570 units or 2.5% so any steady decrease in the number of available homes this summer can definetly be seen as progress towards some stabilization of recent declines. As we continue into fall, we’ll have to start comparing numbers from 2009 & 2010 to see how we’re hold up so to get started, here’s the comparisons for Sept 10 & Sept 09.

Mortgage rates continue to crash as the President can’t seem to get any positive employment or economic numbers ahead of the November elections. I’d expect the Fed to come under continued pressure to do somthing to stimulate the economy and that might include a futher commitment to support the bond market by printing phony money and buying US treasuries. If that happens, you can expect rates to hit 100 year lows. That’s right…and if you want to refinance, we’re going to be running some incredible deals so go to our mortgage page and give us a call today!

If you’re thinking of selling your home this summer, you really need a knowledgeable and aggressive agent more than ever before as it’s likely that we could see a real estate slow down in the near future. If you want to keep track of what’s selling in your neighborhood, you can signup for our free Market Snapshot Report that will allow you to keep track of your local market and see the detail of all the homes currently for sale or that have sold in the last 3 months. Check it out…it’s an extremely valuable resource.

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August Market Steady…Rates DROPPING!

Posted on Tuesday, September 7th, 2010 at 11:07 pm.

The Denver real estate market leveled out in August with a slight decrease in the number of available homes and slight increases in the number of homes under contract and selling during the month. While it’s not likely to see the market improve dramatically until next year, the contiunued drop in interest rates is bringing some new buyers to the table and the number of mortage pre-approvals has increased over the past couple of months. Current 30yr interest rates are about 4.375% so in reality you purchasing power keeps increasing and the available homes at great prices are better than they’ve been in the last few months.

If you’re thinking of selling your home this summer, you really need a knowledgeable and aggressive agent more than ever before as buyers are getting aggressive in their offers and you need someone to protect your equity! If you want to keep track of what’s selling in your neighborhood, you can signup for our free Market Snapshot Report that will allow you to keep track of your local market and see the detail of all the homes currently for sale or that have sold in the last 3 months. Check it out…it’s an extremely valuable resource.

Look for mortgage rates to continue to drop but also be ready for any strong economic news that will cause those rates to become volitle.

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July Summer Doldrums?

Posted on Saturday, August 7th, 2010 at 10:58 pm.

Well, the Denver real estate market is certainly showing no signs of excitment and the continued drop in mortgage rates doesn’t seem to be doing much to increase property showings or offers. Whether you look at increases in the available inventory of properties (up 3.35% to 23,450), a decrease in the total number of sold properties (down 2% to 3,808) or the increase in expired listings (up 41% to 1,272), it looks like Summer 2010 may be a dud for Denver area home sellers. For Denver area home buyers….great opportunity exists. Interest rates continue to decline with average 30 years FHA rates under 5% and Seller starting to feel some pressure to make deals, now is a great time to start looking for that perfect home.

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Market Holds Steady for June

Posted on Thursday, July 15th, 2010 at 3:03 am.

Well, everyone is now wondering just how the summer real estate market will do in the Denver Metro Area. Why you might ask? It’s the expiration of the 1st time home buyer and repeat home buyer credits!

Just what effect those tax credit had on the market the 1st half of the year will not be known until July because most closings that were recorded in June could have been impacted by the tax credit’s stimulating effect. July should be more representative of the non-credit market as it represents a larger percentage of properties that went under contract in May, which was after the credits expired. In talking to my fellow real estate agents and looking at our business it seems like we might me in for a slow summer but we’ll just have to wait and see.

Now to the market stats themselves. Total listings of homes and condos in the metro area increased a modest 761 units to 23,450 or about 3.4%. Total listings under contract was virtually unchanged at 3,885. The total number of sold properties decreased in the month to 4,046, a decreased of 319 units from May and the total days on market for the Denver Metro Area increased from 76 days to 82 days which is representative of the increase in total inventory of listings.

If you’re thinking of selling your home this summer, you really need a knowledgeable and aggressive agent more than ever before as it’s likely that we could see a real estate slow down in the near future. If you want to keep track of what’s selling in your neighborhood, you can signup for our free Market Snapshot Report that will allow you to keep track of your local market and see the detail of all the homes currently for sale or that have sold in the last 3 months. Check it out…it’s an extremely valuable resource.

Keep those fingers crossed….it may get a little rocky this summer! Look for mortgage rates to continue to drop however so there is hope out there.

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Perfect Opportunity to Move UP!

Posted on Monday, May 17th, 2010 at 4:34 pm.

With the recent news that Denver’s real estate market is steadily improving, now is the perfect opportunity to buy that dream home. Denver’s market has been steadily improving from early 2009, however, those improvements always start from the bottom up. Homes in South Aurora that could be had last year for $140K are now $190K. The higher end market, however, generally improves last as the trend moves upward through the market. So, if you’ve ever thought of buying a more expensive home, NOW IS THE TIME! You’re almost guaranteed that the more expensive home will appreciate significantly more over the next 5 years.

If you want to find out what homes like yours have been selling for in your neighborhood you can get this very detailed Market Snapshot Report that uses the same MLS data that real estate agents use.

Stix & Stones specializes in helping Denver Real Estate Seller’s take advantage of the great move up opportunities in the Denver Real Estate market.

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Metro Area Days on Market (DOM) down 23%

Posted on Wednesday, May 12th, 2010 at 8:14 pm.

Denver’s real estate market continues to show significant improvement over last year as the total number of single family homes and condos under contract at the end of April was much better than the same period last year. According to Metrolist, Inc. the total days on market decreased from 104 days in April 2009 to 80 days in April 2010 or a 23% decrease.

Total active listings for April 2010 were 20,943 which was a slight increase from April 2009 but the total number of closed sales was also up over 1,433 units or 27.6%. These numbers indicate that our market is growing and that total absorption remains strong.

The long term effects of the expiration of the home buyer tax credit program are hard to judge but remember we’re in our 3rd year of this credit and we’ve found that most people who were taking advantage of the program did in 2009 with much fewer so far in 2010.

If you’ve been thinking of selling your home and moving up, now is the perfect time as the market generally improved from the bottom up so that bigger house you’ve been dreaming of is still on sale relative to yours. If you want to find out what houses like yours have been selling for in your neighborhood you can get this really cool Market Snapshot Report that uses the same MLS data that real estate agents use.

Stix & Stones specializes in representing Denver real estate buyers and sellers.

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