Denver South East Real Estate – Market Report – May 2008

July 5th, 2008 scheer Posted in Denver, Denver Market Reports Comments Off

MARKET REPORT – DENVER REAL ESTATE – DENVER SOUTH EAST

For those of you that held tight & continued to keep your price right and your home in tip-top conditon at all times, it may bave paid off for you this month. Sales are up, homes Under Contract are up and these are all great signs of a market that could possbily be starting to make a turn.

May was a much better month in this part of the Denver real estate market. I will repeat what I said in April: Pricing the home right and creating offers is far more important than waiting at the wrong price to negotiate with someone. That may never happen! Keep analyzing your price and make sure you are where you should be. The buyers are out there and starting to take serious action.

Here are the DSE – Denver South East numbers for May 2008 – Denver South East Denver South East – Residential Real Estate –

Single Family Homes

Total Active 1800
Average Asking Price Price $758,548
New Listings 1075
Listings Back on Market 155
Sold 270
Average Price Actually Sold $418,832
% of List Price 96%
Days on Market 98
Under Contract 386
Expired Listings 66

Denver South East Condos & Town Homes
Total Active 1430
Average Asking Price $386,852
New Listings 578
Listings Back on Market 125
Sold 211 Average Price actually sold $212,950
% of List Price 97%
Days on Market 116
Under Contract 264
Expired Listings 51

*Statistics from MLS deemed accurate but not guaranteed. *These numbers may not include homes that are sold by owner (FSBO) and New Construction 

 

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Parker Homes Sales & Market Reports – May 2008

July 5th, 2008 admin Posted in Denver Comments Off

Real Estate Market Reports & Trends for Denver Suburbs

The is still one fo the slower areas of the Denver Metro real estate market, but
we still saw some activity in May. Price and condition are still completely
crucial, and will continue to be throughout the summer and into the fall months
for this part of the Denver metro real estate market in particular.
With just under 7 months inventory and 104 day on market average, this isn’t
terrible! It is however, more of a buyer’s market. So as a repeat one more
time, price effectively and keep your home in great condition and you’ll be on
your way. Make sure you continue to ask your REALTOR the though questions – how
are your priced compared to your competition, are there areas of your home that
condition can be improved, what other things that are in your control can you
improve to help your home sell.
Douglas County & Elbert Colorado – STATISTICS FOR HOME SALES IN THE AREA – EAST
DOUGLAS COUNTY

This report includes all areas of the Denver MLS known as DEP : Douglas County &
Elbert County – Parker, Kiowa, Elizabeth, Franktown – May 2008

DEP – Douglas County East/Parker – Residential Real Estate – Single Family Homes
Total Active Homes For Sale 1356
Average Asking Price $618,138
New Real Estate Listings on the Market 546
Listings Back on Market 98
Sold Homes 197
Average Price Actually Sold $376,259
% of List Price 97%
Days on Market 104
Homes Under Contract 229
Expired Listings 49
Douglas County East/Parker – Condos & Town Homes
Total Active For Sale 132
Average Asking Price $170,730
New Real Estate Listings on the Market 50
Listings Back on Market 17
Sold Listings 21
Average Price Actually Sold $171,275
% of List Price 98%
Days on Market 119
Homes Under Contract 37
Expired Listings 4

*Statistics from MLS deemed accurate but not guaranteed.
*These numbers may not include FSBO and New Construction.

Read Also: Do You Need A Buyer’s Agent in Colorado?
Selling Your Vacant Denver Home

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Parker Homes Sales & Market Reports – May 2008

July 5th, 2008 admin Posted in Denver Comments Off

Real Estate Market Reports & Trends for Denver Suburbs

The is still one fo the slower areas of the Denver Metro real estate market, but
we still saw some activity in May. Price and condition are still completely
crucial, and will continue to be throughout the summer and into the fall months
for this part of the Denver metro real estate market in particular.
With just under 7 months inventory and 104 day on market average, this isn’t
terrible! It is however, more of a buyer’s market. So as a repeat one more
time, price effectively and keep your home in great condition and you’ll be on
your way. Make sure you continue to ask your REALTOR the though questions – how
are your priced compared to your competition, are there areas of your home that
condition can be improved, what other things that are in your control can you
improve to help your home sell.
Douglas County & Elbert Colorado – STATISTICS FOR HOME SALES IN THE AREA – EAST
DOUGLAS COUNTY

This report includes all areas of the Denver MLS known as DEP : Douglas County &
Elbert County – Parker, Kiowa, Elizabeth, Franktown – May 2008

DEP – Douglas County East/Parker – Residential Real Estate – Single Family Homes
Total Active Homes For Sale 1356
Average Asking Price $618,138
New Real Estate Listings on the Market 546
Listings Back on Market 98
Sold Homes 197
Average Price Actually Sold $376,259
% of List Price 97%
Days on Market 104
Homes Under Contract 229
Expired Listings 49
Douglas County East/Parker – Condos & Town Homes
Total Active For Sale 132
Average Asking Price $170,730
New Real Estate Listings on the Market 50
Listings Back on Market 17
Sold Listings 21
Average Price Actually Sold $171,275
% of List Price 98%
Days on Market 119
Homes Under Contract 37
Expired Listings 4

*Statistics from MLS deemed accurate but not guaranteed.
*These numbers may not include FSBO and New Construction.

Read Also: Do You Need A Buyer’s Agent in Colorado?
Selling Your Vacant Denver Home

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Highlands Ranch & Lone Tree – Market Reports

July 5th, 2008 admin Posted in Denver Comments Off

Sales & Market Trends in Denver’s Suburbs – Highlands Ranch & Lone Tree Real
Estate

Along with other areas of the Denver metro real estate market, the areas of
Highlands Ranch and Lone Tree did see improvemtns in May which is very
encouraging altogether. Acitvity overall was up, sales were up and things were
happening. Home sellers are more realistiic on prices, home buyers are making
decisions and taking action and all of this are good signs of the real estate
market. This is the area that is found in the Denver MLS as DHL.
Highlands Ranch seems to be in good balance. With average days on market at
just over 2 months and inventory levels stable, it is a good place to buy and
should be a great investment. More commercial developement in town brings more
jobs and convenience, driving this already robust community.

Here are the DHL Douglas County – Highlands Ranch & Lone Tree numbers for May
2008.
Highlands Ranch & Lone Tree Single Family Homes
Total Active 678
Average Asking Price Price $488,089
Listings Back on Market 61
Sold 206
Average Price Actually Sold $374,808
% of List Price 97%
Days on Market 69
Under Contract 253
Expired Listings 25
Highlands Ranch & Lone Tree Condos & Town Homes
Total Active 137
Average Asking Price $259,211
Listings Back on Market 20
Sold 49
Average Price actually sold $250,559
% of List Price 98%
Days on Market 80
Under Contract 43
Expired Listings 17
*Statistics from MLS deemed accurate but not guaranteed.
*These numbers may not include homes that are sold by owner (FSBO) and New
Construction

Read Also: Do You Need A Buyer’s Agent in Colorado?
Selling Your Vacant Denver Home

Highlands Ranch Homes For Sale
Highlands Ranch New Listings

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Curb Appeal – Could This Be Why Your Denver Home Isn’t Selling

June 16th, 2008 scheer Posted in Denver, Denver Relocation, Sellers Comments Off

As a REALTOR® in Denver, I see many homes throughout the Denver metro area all of the time as I have been very busy with home buyers. Lately I have been to homes in varying price ranges and in different areas and neighborhoods. My car has taken us through Highlands Ranch, Parker, Englewood, Greenwood Village, Castle Pines North, and Centennial in just the last 10 days or so. The price range has varied from buyer to buyer from around $320,000 to just under $1,000,000.

For the most part, with some exceptions, the homes when you walk in the door are in stellar shape. They have been cleaned from top to bottom and most would certainly pass the white glove test. Most of them show beautifully. But lately I have seen something across the board – even in one of the higher end properties. Lack of curb appeal. Not even lack of, but negative curb appeal. I know its getting hot and it gets harder to keep the grass green in the Colorado heat. My own yard is needing some TLC – but I am not selling my home.

Here are some tips.

1. You have to figure out a watering pattern that is going to work for you and keep you within watering guidelines as well. Denver Home Buyers do not want to buy a home with dead grass. If its getting brown already, don’t give up, you can bring it back. Grass can be resilient unless you let it go too long. And if need be, bring out a professional to have your sprinklers adjusted. If they are missing spots, they can help you correct that.

2. If you haven’t sprayed or pulled weeds, especially the dandelions, do it now. They are starting to take over in many cases.

3. A potted annual for about $15 at your doorstep could really help make things a bit cheerier – but only if you are going to water it. I have already seen a few dead ones.

4. Filthy doors or door knobs? Wipe them down. I think I saw pink frosting from little fingers on one this week.

5. Cobwebs on the outside of the house, take care of them.

6. Bird droppings on the windows? Get them washed.

7. Dead tree in the yard. Get rid of it.

Curb appeal is the first impression of your home. It is where the emotion of the buyers begin. If they have a positive vibe as they walk in that front door, that is a good thing. No vibe, or worse yet a negative one – not so great.

And here is something else to consider – a bonus tip if you will. Curb appeal doesn’t start at your doorstep. More likely than not, a buyer is not going to pull into your driveway and walk the path that you always walk to the front door. They more likely than not will park at the street or across the street – or if you live on a corner – around the corner.

Take a few steps in these directions, turn around and see the home your are wanting to sell from that viewpoint. Perhaps a look from another angle could shed some light on a hidden item you need to address. If you are on a corner, are there weeds along your fence? Is there a ton of debris in the street in front of your house – sure the street sweeper will come eventually but why not just do it now? Are neighborhood dog walkers leaving presents on your grass near the sidewalk? On on the sidewalk? That would be a turn off.

And here is one more tip. If you have children, do your curb appeal check often. You never know what hidden little jems you are going to find that they have left laying around, especially after a weekend of playing in the yard.

Read Also: Selling Your Vacant Denver Home – Are You Properly Insured? Highlands Ranch Home Sold In 48 Hours! In This Market? Steve Scheer, RE/MAX Masters, Inc. Denver Real Estate

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Can 1st Time Home Buyers Still Buy a Denver Home?

June 8th, 2008 scheer Posted in About Denver Real Estate, Buyers, Denver, Denver Home Pricing, Financial Center Comments Off

With the increase of the price of homes over the last several years and perhaps the economic crunch hitting savings a bit, can this really be done?

Perhaps. It depends on you.

If you have been planning for this, keeping your debt low and credit history excellent then you really can buy your first home here.

Of course, what I run into often are people not satisfied with needing to start out in anything less than what mom and dad have, or friends, etc… This is where you need to look hard at the magic reality mirror and ask yourself what you can comfortably afford. I always say that it is better to hop on at the caboose than to miss the whole train.

Owning your home and building equity over time can do amazing things for your life. But you may need to buy something less than you imagined at first and build from there. Or maybe not. It depends on your financial situation. So once we realize that we aren’t going to get the same first time house our cousins did 8 years ago, are there affordable homes in this area for first time buyers? Yes.

There are real estate options in almost all areas of the south Denver metro area – Denver, Englewood, Littleton, Lone Tree, Highlands Ranch, Centennial, Parker, Aurora and even into Castle Rock – you have options! Some options are condo’s or townhomes, some are single family homes that may need some work or may be bank owned deals. It really depends on what level your first home will be. If you do decide to go the bank owned or short sale route, you are going to need to bring with you a whole lot of patience as purchasing a home needing bank approval on a contract can take much longer than one would like.

There are still so many financing options available, even with the recent credit crunch. You definitely need to be working with a trusted mortgage professional that will counsel you on the loan programs that will best fit your lifestyle and goals without stretching you too far.

Just remember what I said earlier, look for what you can comfortably afford, not as much as you can qualify for, there is a difference! If you need help finding a great lender, just let me know. I have established relationships with a number of mortgage pro’s that will do just that. Keep your best interests in mind and work to find you the best solution to owning your first home. Give me a call anytime, I’ll be happy to help. So get searching for your Denver dream home – yes, it may be a first time home, but you will still be living the dream of owning a home!

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Denver Real Estate – South East Homes Sales & Market Reports

May 28th, 2008 scheer Posted in Denver, Denver Market Reports Comments Off

MARKET REPORT – DENVER REAL ESTATE – DENVER SOUTH EAST – MARCH 2008

This part of the Denver real estate area has an oversupply of homes available now. With about 9 months supply, sellers will need to watch their pricing and condition. Patience is necessary because if you are trying to sell right now, one month seems like a year. It can be very frustrating indeed!

So with an average days on market at 129, the sellers may be going a bit crazy. The buyers are entering the market more now than before and most have seen a lot of inventory. If you are priced right and the home shows well, these buyers will know it and put forth their offers on your home. Pricing the home right and creating offers is far more important than waiting at the wrong price to negotiate with someone. That may never happen!

Here are the DSE – Denver South East numbers for March 2008 – Denver South East Denver South East -

Residential Real Estate – Single Family Homes 
Total Active 1626 
Average Asking Price $721,625 
New Listings 913 
Listings Back on Market 144 
Sold 180 
Average Price Actually Sold $425,650 
% of List Price 96% 
Days on Market 129 
Under Contract 305 
Expired Listings 68 
Denver South East

Condos & Town Homes 
Total Active 1406 
Average Asking Price $370,110 
New Listings 541 
Listings Back on Market 100 
Sold 127 
Average Price actually sold $216,619 
% of List Price 97% 
Days on Market 135 
Under Contract 209 
Expired Listings 53

*Statistics from MLS deemed accurate but not guaranteed. *These numbers may not include homes that are sold by owner (FSBO) and New Construction

 

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Denver Real Estate – Homes Sales and Market Report

May 28th, 2008 scheer Posted in Denver, Denver Market Reports Comments Off

MARKET REPORT – DENVER REAL ESTATE – DENVER SOUTH EAST – APRIL 2008

Real estate inventory in Denver south east is up – but activity is as well.

Homes sold in the area in April has increased as has Denver homes sales that are pending. As in all parts of the Denver real estate market, certain neighborhoods are going to do better than others based on location and amenities but the bottom line is going to remain the same throughout the summer. Pricing will remain crucial for your Denver home to sell.

This is not the time (and hasn’t been in awhile) to see what you can get. To get qualified buyers into your home you need to be completely accurate on your price and then once they are there – it needs to be the best one the have seen. Do your maintenance, spruce your home up as best you can and keep it that way. Look at curb appeal from the moment they get out of the car and make sure your Denver home shines.

Here are the DSE – Denver South East numbers for April 2008 -

Denver South East Denver South East – Residential Real Estate – Single Family Homes

Total Active 1751 
Average Asking Price Price $735,182 
New Listings 987 
Listings Back on Market 146 
Sold 235 
Average Price Actually Sold $449,787 
% of List Price 96% 
Days on Market 108 
Under Contract 353 
Expired Listings 67 

Denver South East Condos & Town Homes

Total Active 1431 
Average Asking Price $375,397 
New Listings 636 
Listings Back on Market 117 
Sold 181 
Average Price actually sold $250,782 
% of List Price 98% 
Days on Market 129 
Under Contract 275 
Expired Listings 71

*Statistics from MLS deemed accurate but not guaranteed. *These numbers may not include homes that are sold by owner (FSBO) and New Construction

 

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Corporate Relocation – Coming or Going – Here’s The Scoop

April 15th, 2008 scheer Posted in Denver, Denver Relocation, Financial Center, Sellers Comments Off

Every now and then I get a call from someone either relocating to Denver or needing to leave Denver that is directly tied to a Corporate Relocation package. Some are past clients that I have sold Denver real estate to, others have been referred by my clients or found me in other ways. In any case, it seems that there is, at times some confusion tied directly to corporate relocation.

The number 1 question that is asked over and over: Do I have to use the Denver Realtor® that the Relocation company has suggested? And the answer is: probably not. I almost can say, that answer is no – but there are a few very unusual circumstances where that may not be the case – so we will leave it at probably not.

Now that doesn’t mean you shouldn’t. It just doesn’t mean you have to. Its your house, your transaction, your comfort level, your decision.

If you have a Denver REALTOR® that you have used in the past, that you were very happy with and you trust, there is no reason why you can not tell the relocation company that you would prefer to use them. Yes, the relocation company is going to ask that REALTOR® for a referral fee, and I can speak for myself that I do and have paid this fee at closing – that is how they partially fund your relocation in the first place.

Now its true, if you already knew the REALTOR®, they aren’t truly referring you – but that is how it is done – and that is fine. Its just the way it is. Would you receive any less service from me because I have to pay them? NO! I have even encountered from time to time that an individual has felt that they had to use someone the relocation company has suggested and has later been shocked to find out that is not the case.

There are a variety of reasons why someone may have felt that way, perhaps even a miscommunication – but the bottom line is – if you have someone you want to use – just tell them!

Now in the case of relocation out of Denver, often times the relocation company will want you to "interview" more than one agent before listing your home. In many cases this is the way that they get an accurate feel of how much your home is really going to sell for – by getting more than one opinion. They may even make a suggestion as to who they want for the listing.

But if you have a strong opinion one way or another – this is your chance to speak up and get the ball rolling. If you tell them, I want to use ___________, they most likely will be fine with that.

I have done many corporate relocations with all of the major relocation companies and am very familiar with their guidelines, forms, processes and all the additional pieces that in entails.

I am prepared to make your relocation in or out of Denver as easy as possible for you and if that involves a corporate relocation company – I am more than happy to work for you.

 

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Buyer’s Agent in Colorado – Do You Really Need One

April 15th, 2008 scheer Posted in Buyers, Denver, Denver Relocation Comments Off

Do you really need a buyer’s agent in Colorado?

It isn’t unusual for me to get that question when someone is looking at purchasing Denver real estate, especially when a buyer is looking at new construction.

But here are the facts. In most all cases, a buyer does not pay the commission of their buyer’s agent. The seller does.

So in the case of the first time home buyer, or out of state relocation, it may be tempting to try and go at it alone or use the listing agent, but that is not always the wisest choice.

First of all, if the seller is paying the commission, then why do all the work yourself and still not be represented in the deal? Also, who does the listing agent work for? You got it, the seller and not you!  Most times it is wiser to have an agent solely representing you and your best interest. Why put yourself through all the brain damage. Of course we all know that a builder would love for a buyer not to have a buyer’s agent. In the case of new construction, the seller (builder) still pays the buyer agent’s commission. Who do you think the on site agent works for? And the transaction may be more cut & dry and seem like you may not need one. However, this is so often not true.

First of all, there are so many things that can happen that you will need a seasoned professional to help you navigate through – deadlines, options, re-sale considerations and of course the possible construction errors that may likely come up – those are just some examples, there are more.

It is also not set in stone that the home price is the firm price in new builds. Builders are very good at creating a media frenzy of lotteries, lines and wait lists for new releases. But the fact of the matter is they are hurting right now and they will negotiate. You can often negotiate more than the incentives offered by the builders. You just need to know how to go about it. It’s not as straight forward as it may seem – perhaps you can negotiate on some upgrades, or the lot premium, maybe just have the landscaping thrown in.

In the end, if you can have professional representation that is usually paid for by the seller, why wouldn’t you?

Someone mentioned to me once that they thought that they could do it all themselves and save some money (because the seller wouldn’t have to pay a commission. Which by the way, statistically almost never happens) I told them maybe, and I bet you could also cut your own hair or fill your own teeth!

  

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