Homes in Denver - Colorado’s Real Estate Resource Blog
Helping people find homes and real estate in Denver, Colorado and surrounding areas
click blog article title to see full postRental Homes See Increase In Vacancy for 4th Quarter
Vacancy for rental housing units in the Denver metro area increased to 4.9% for the 4th quarter of 2008, according to a report conducted by the Colorado Division of Housing. Of the counties used for the measure, Boulder/Broomfield boasted the highest average rent ($1,453.82) and Douglas the lowest vacancy rate (3.7%), while Denver posted the lowest rental rate ($920.97) and Adams the highest vacancy (7.4%). The average monthly rental rate for the period also increased from the $998.37 average in the 3rd quarter of 2008 and $966.01 in the 4th quarter of 2007 to post $995.24 for the 4th quarter of 2008. Here’s a link to the complete article http://www.denverpost.com/ci_11953955.
In our office, we are seeing these trends play out in real life. It is taking a longer time to rent out our vacant houses and in some cases up to 60 days. We’ve actually lowered rent in some cases. A single family rental home that I personally own
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Denver Housing Market Sees Positive Signs
The Denver residential market is outperforming many other markets in the nation in terms of home price appreciation, according to S&P/Case-Shiller. In their most recent comparison of home-price appreciation among 20 metropolitan statistical areas in the country, Denver posted the 2nd lowest decline for the 12-month period ending in January 2009 (5.1%) and posted the 7th smallest decline of all markets surveyed for the period of December-January 2009 (2.7%). Dallas had the lowest nationwide decline at 4.9%. Nationwide, the appreciation rate among the 20 cities in the survey was found to have declined 19.0% from January 2008 and was led
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Real Estate Market Stabilizing in Denver
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Investment Strategies in Today’s Real Estate Market
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What to Ask for on a Tenant Application
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Colorado Carbon Monoxide Legislation
A bill was proposed in the 2009 Legislative Session regarding carbon monoxide detectors in rental units due to the many recent deaths in Colorado due to high levels of carbon monoxide in the homes and apartments.
This year’s bill requires any existing single-family dwelling or dwelling unit of an existing multi-family dwelling offered for sale or transfer of lease on or after July 1, 2009, that has a fuel-burning heater or appliance, a fireplace, or an attached garage to have an operational carbon monoxide alarm installed within a specified distance (10 feet) of each room lawfully used for sleeping purposes.
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Deal of the Week for 12/18/08
Check out these two investment properties east of Denver in northern Aurora. These houses are located close to the new Fitzsimmons Medical Center with easy access to downtown and I-70. Give either of these houses some remodeling work and they would make great rental investment properties.
HOW TO SELL YOUR HOME QUICKLY
If you’re considering selling your home in Denver, recent statistics might have made you slightly hesitant. As consumer confidence wanes and higher numbers of homes stay on the market longer, it can look a bit daunting for homeowners wanting to sell their current homes. In fact, markets all across the country are experiencing long marketing periods and difficulties moving inventory. Some agents have even started offering unique perks along with the sale of the homes their advertising, from free gas to vacations and even cars in the hopes of luring potential buyers.
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FLIP LIKE A PRO
While Denver residential real estate investors haven’t engaged in flipping properties as much as investors in other areas, it still can be a viable way to make money. In fact, the city is buzzing about the success of several brokers who saw an opportunity and seized it in the Glass House development near Denver’s Commons Park.
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SECOND HOMES COULD BE A GREAT BUY IN DENVER
With sales prices dropping, and the buyer’s market in Denver extending indefinitely, now could be a great time to consider purchasing a second home in the Denver area. Whether you’re interested in purchasing a getaway for yourself, or a home to rent to vacationers, there’s no time like now to investigate the possibility of securing an additional property.
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BROOMFIELD UNAFFECTED BY UPS AND DOWNS OF THE MARKET
Denver real estate professionals are working to bounce back from setbacks in the first quarter. The number of new and previously owned homes sold in the Denver area fell by 10.6 percent in the first quarter, compared with 2006 figures. Additionally, the median price of all homes dropped 1.3 percent to $235,000 from $238,000 in the first quarter of 2006. And no one’s quite sure what’s going to happen in the upcoming months.
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WHAT’S NEW IN DENVER Builders forge ahead with new construction despite shaky market
Navigating the recent rough waters of the real estate market has proved to be a challenge for everyone in the industry. While economists expect the market to turnaround, forecasts aren’t always enough to assuage fears and concerns. One of the groups that has become the most discouraged is the nation’s home builders. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence has reached the lowest point since February 1991.
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GO “GREEN” AND SAVE!
Across the nation, more and more cities are going “green” by constructing eco-friendly developments that are conducive to a variety of lifestyles while implementing measures that benefit the environment. This month Denver proved to be one of the leaders in this trend when the U.S. Environmental Protection Agency awarded Denver-based developer Forest City Enterprises with the Environmental Achievement Award for vision, superior leadership and skill in redeveloping the former Stapleton International Airport site in Denver into an environmentally friendly, mixed-use development.
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VACANCY RATES TO HURT DENVER RESIDENTIAL REAL ESTATE INVESTORS?
According to the Metro Denver Economic Development Corporation, the vacancy rate for rental condos, single-family homes and other small properties in metro Denver fell to a five-year low in the first quarter. Bad news for investors?
TIRED OF PAYING PMI?
If you purchased your home with less than 20% down, more than likely you were stuck paying private mortgage insurance, more commonly referred to as PMI. The good news is that when you’ve paid down your mortgage to 80% of the value of your home, you can appeal to your lender to have PMI removed and stop paying those pesky fees that drive your monthly mortgage payment up. But the bad news is that many homeowners in the nation might be stuck with the burden of PMI for much longer than they had anticipated.
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How to Avoid Mortgage Delinquency & Foreclosure
Denver homeowners are among the many Americans that have been greatly plagued by foreclosure in the last few years. But a slowly rebounding market and new legislation aimed at preventing lenders from approving loans that homeowners can’t afford are expected to curb the trend.
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Beware of Mortgage Fraud
Mortgage fraud has become an undeniable blemish on the industry across the nation. According to many, fraud has become one of the leading contributing factors to the nation’s growing foreclosure rate.
Mortgage fraud covers a wide range of financial crimes including equity skimming, application fraud, credit or income misrepresentation, or asset and down payment misrepresentation. Fraud can be committed by anyone in the transaction, including the borrower, lender, agent or appraiser. However, new legislation in Colorado is targeting lenders.
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Denver Builders Cater to Baby Boomers
As more and more baby boomers retire, many are not looking at retirement the same way their parents did. Having spent many years raising families in the suburbs, they now are looking for hip communities that can accommodate their new lifestyle as an active senior.
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Denver Schools – Year in Review
When families are considering purchasing a new home, one of the first factors they consider is the quality of schools in the area. What are the average test scores? What’s the teacher-student ratio? Will our child get the best education possible?
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Need More Time to Sell Your Home? Denver Sellers May Want To Consider Bridge Loans
If you’re thinking about selling your Denver area home, it may take a little longer than expected. According to Rocky Mountain News, the number of unsold homes in the Denver area market recently hit record highs. The large number of properties on the market has increased the marketing time for many sellers, even during the spring and near summer months when real estate activity rises as families try to get settled before the school year begins. At the end of May there were 29,100 homes on the market.
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Need More Room? Now May Be The Time To Buy Big
Have you always dreamed of owning a big, beautiful home in Denver? Do you need more room to accommodate your growing family? Well now could be the time to evaluate your options based on two critical factors. Firstly, Colorado is noted as having more large homes than most states in the U.S. Secondly, recent changes in the real estate market might help you to get more home for your money.
According to figures from the U.S. Census bureau, Colorado is among the top states noted as having the largest homes in the country. Of all of the states in the U.S., Colorado ranked third, with 26.2 percent of homes having at least four bedrooms, just behind Utah and Maryland. The Census Bureau made special mention of Centennial, in the Denver suburbs, because 52.5 percent of homes there have at least four bedrooms. This is a stunning percentage as only approximately 20 percent of homes in the U.S. have four or more bedrooms.
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Denver Teens get a Lesson in Real Estate
When many of us decided to purchase our first homes, we soon found out that we had a lot to learn. From the various types of loans available to the details of a standard real estate contract, the process was overwhelming for many of us to say the least.
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Denver Plants Seeds for Job Growth
There’s great news for Denver employers and job seekers! The Colorado Department of Labor and Employment reported that the unemployment rate for the state in April fell to its lowest rate since June of 2001 at 3.5%. This is especially good news for individuals considering relocating to the Denver area.
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Maintaining the Value of Your Home
Buying a home is one of the smartest investments you can make. But once you buy your home, it’s imperative that you maintain your investment. When appraisers inspect a home, one of they key factors they consider before determining the value is how well a home has been taken care of. Are you making scheduled maintenance a priority? Are there needed repairs that you’ve been putting off?
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Denver Foreclosures: Part II
HOW TO BUY A HOME AT A PUBLIC AUCTION
According to recent statistics, approximately 9,300 housing foreclosure filings were submitted in the first quarter. This record number pushes Denver towards a projected 25% increase in foreclosures by the end of 2007.
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Denver Foreclosures: Part I
NEGOTIATING WITH A DISTRESSED SELLER
Many savvy investors who do well in the real estate market don’t wait until a home forecloses to make their move. Often, they keep a watchful eye and look for homes in the stages of pre-foreclosure and try to negotiate a deal with the seller.
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Dispelling the Myths of High-Priced Urban Living in Denver
A great place to work and play, statistics show that Denver continues to grow more and more popular among America’s families and singles seeking exciting new jobs and adventures. Metro Denver currently boasts a population of 2.6 million and according to the Metro Denver Economic Development Corporation over the next few years, the city will welcome an estimated 20,000 more residents to Denver from other cities each year.
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Realizing the Dream: Tips for First Time Home Buyers
Pride of ownership, appreciation and tax benefits are just a few reasons people decide to purchase their first homes. Of all the decisions you’ll make, deciding to purchase a home is one of the most important and significant steps you’ll take towards securing your future. The process can be intimidating at first but if you do your homework, you can prevent the complications and disappointments that the unprepared face during the lending process.
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Denver: A Great City for Work and Play
A great place to work and play, statistics show that Denver continues to grow more and more popular among America’s families and singles seeking exciting new jobs and adventures. Metro Denver currently boasts a population of 2.6 million and according to the Metro Denver Economic Development Corporation over the next few years, the city will welcome an estimated 20,000 more residents to Denver from other cities each year.
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Buy Real Estate With Your IRA
Invest Your IRA Funds in Real Estate
IRAs were created by amendments to the Internal Revenue Code made by the Employee Retirement Income Security Act of 1974, and have been one of the most successful Federal initiatives aimed at encouraging the creation of private wealth in United States history. The total value of IRA’s in the
Over the past 33 years IRAs have gained wide acceptance, and are now part of the portfolios of a very high percentage of American families. Along with this broad acceptance has come a proliferation of IRA mechanisms, including a number of mechanisms that are “self-directed”, meaning that the beneficiary of the IRA chooses what to invest his/her IRA funds in.
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