Archive for Denver Economy
Denver Named Among Country’s “Greenest” Cities
Denver has been ranked seventh among America’s “green cities.” The “Green Cities Index” ranks 43 U.S. metro areas on a variety of environmental factors, including traffic congestion, transit use, water quality, carbon emissions, LEED-certified projects, and the number of “green” jobs. Other “green” cities include San Francisco, Honolulu, Austin, Boston, and Seattle.
On another “green note,” Denverites, don’t forget about earth hour! On Saturday, March 27, 2010 from 8:30-9:00 p.m. the world will send a powerful message that climate change is an important priority. By turning off non-essential lighting for one hour – Earth Hour – hundreds of millions of people across the globe will demonstrate their support for lasting action in protecting the earth’s natural resources.
Established by the World Wildlife Fund, Earth Hour has grown from a citywide effort in 2007 to a global phenomenon that has captured the world’s attention. Each year, individuals, organizations, businesses and state and local governments unite to show their support by turning off the lights at home, the workplace and iconic landmarks such as the Empire State Building, the Las Vegas Strip, Sydney’s Opera House and more. In 2009 alone, nearly one billion people spanning 4,100 cities in 87 countries on seven continents “turned out” for Earth Hour.
For information on living in Denver, Colorado, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver International Airport (DIA) Flies High in Customer Service
Happy Birthday, DIA! While images of lost baggage may linger in your mind when you think of Denver International Airport’s opening in February of 1995, the airport has come a long way in the last 15 years.
CNBC recently reported on J.D. Power and Associates’ 2010 North America Airport Satisfaction Study, ranking airports on a variety of factors, including accessibility, check in/baggage check process, facilities, security checkpoints and food and retail services. DIA was ranked the second highest airport in North America, only behind Detroit Metro (DTW).
DIA scored a 5/5 in Overall Satisfaction, a 5/5 in Accessibility, a 4/5 in Check-In, and a 4/5 in Security. Way to go, DIA! Here’s to many future smooth travels for you via Denver International Airport.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
What are the Hottest Jobs in Denver?
The Denver Metro Chamber of Commerce recently commissioned a study, revealing that several Denver-area sectors have experienced job growth amidst the recession. The hottest sectors for job growth in the nine-county Denver area include:
Aerospace: Colorado’s aerospace sector, consisting of approximately 90 firms, had a 12.1 percent increase in jobs from 2004-2009. This was the best showing among the 50 largest metropolitan areas in the country.
Aviation: The region will benefit from growth at Denver International Airport over the next five to 15 years.
Bioscience: Employment in the region’s medical device section grew 1.6 percent from 2009-2009.
Broadcast and Telecommunications: The Denver metro area ranked fourth for broadcasting and telecommunications’ job growth. The sector grew at 2 percent during the recession.
Energy: The region’s energy sector experienced job growth of 4.6 percent from 2009-2009.
Financial Services: The Financial-services sector ranked fourth in the country for job growth.
Information Technology – Software: The information technology sector employs 2.9 percent of the region’s total workforce.
We’ve been stressing throughout the recession that the Denver area is at an economic advantage compared to other cities, since the region is bolstered by an array of diverse, strong industries. For information on Denver real estate, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
2010 Denver Economic Forecast is Encouraging
The Metro Denver Economic Development Corporation (Metro Denver EDC) recently released its 2010 Economic Forecast for Metro Denver and the news is encouraging.
As we’ve reported numerous times during this recession, the report suggests that Metro Denver’s economy has fared better than many other regions throughout the recession. This can be attributed the region’s diverse base of industries and strong economic fundamentals.
While the Denver-area’s outlook for 2010 is far from rosy, there are many positive factors, including its relocation desirability, and the fact that the Denver housing market has been predicted to be one of the first markets to recover numerous times.
All of this suggests that there is no better time than the present to purchase a Denver home. For more information on Denver’s economy, please contact TeamCox Realtors – Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Colorado Unemployment Rate Dips Again
There is good news on the Colorado job front. The Colorado Department of Labor and Employment released its unemployment figures today and the news is encouraging. The state’s jobless rate fell slightly in November, to 6.9 percent. The figure, which has been decreasing over the past several months, is well below the national unemployment rate of 10 percent.
While a 6.9 percent unemployment rate is hardly a positive piece of news, the underlying story is hopeful for the Denver real estate market, and for the entire state of Colorado. For more information on the Denver-area job market, contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
Calling ALL Denver Homebuyers (Not Only the First-Timers)!
You already own a home, and you may be longing for a new one. You’ve sadly watched as all of the recent incentives have gone to first-time homebuyers. Well, it’s your turn now – the newly expanded $6500 tax credit is all yours!
There are several incentives that make this too good of an opportunity to pass up:
• There is currently a significant inventory of replacement homes (priced above $350,000) available in the Denver area.
• Interest rates are under 5 percent, which will not last as inflation will begin to impact the national economy. In approximately a year’s time, these low rates will be gone for a very long time, possibly forever. Purchasing a home with one of these very low interest rates will guarantee you a 5 percent rate for 30 years!
• Denver’s very low (by comparison) unemployment rate of 7 percent is just one of the contributing factors that makes Denver one of the few U.S. cities to have a 1.8 percent housing price increase over the same period last year.
We sincerely believe the worst has passed for the Denver housing market. If you have even considered purchasing a new home to create a better lifestyle for your family, do not let this perfect coming-together of reasons to buy a home in early 2010 pass you by. To qualify for the tax credit, you must have a home selected by March 30, 2010 and close on that home by June 30, 2010. It is also important to know that the National Association of Realtors worked very hard to get the first-time homebuyer tax credit extended to include move-up buyers. The NAR was told, in almost no uncertain terms, this bill will not be extended beyond March 30, 2009. Time to get moving!
For information on purchasing a home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Positive Perspective on the Denver Real Estate Market
We are always on the lookout for positive news regarding the Denver real estate market. Our partners at Land Title regularly put out newsletter entitled, “Positive Perspective,” that I thought I would share with you. This edition highlights a few things that we’ve already addressed, including the homebuyer tax credit being extended. It also has information on Denver-area home sales in October, home sales in the western region (including Colorado), Colorado Springs making Business Week’s “40 Strongest List,” and several announcements on local businesses.
Click Here to Read Positive Perspective
For more positive perspective on the Denver area, or regarding the Denver housing market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Real Estate Market’s Absorption Rate Drops
The Denver real estate market continues to show signs of improvement. TeamCox constantly monitors the Denver real estate market’s absorption rate, which measures the rate that homes are sold. Thus, if there are 100 homes on the market and 10 are sold each month, there is a 10-month absorption rate.
According to Metrolist’s most recent statistics, the Denver housing market’s absorption rate for single-family homes was 4.9 percent in October 2009 (or just under 5 months). This is a 9.8 percent decrease from last year’s number of 5.5. The absorption rate for the Denver condo market was 5.3, a 12.7 percent decrease from last year. The improving absorption rate is the result of increasing sales and decreasing inventory. It is a great sign about the current health of the Denver real estate market.
For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Real Estate Update – October 2009
Denver Real Estate Update – October 2009
The weather is cooling off, but how is the Denver real estate market faring this fall? Metrolist released its September statistics this week, revealing that the Denver housing market has definitely stabilized over the past few months.
The year-over-year picture isn’t pretty – single-family and condo sales decreased 15 percent from 2008. The price trend offers hope, though, with the average sold price ($251,112) for a Denver home, including single-family and condominiums, increasing 4.88 percent from last year.
There is more good news to report in September, including that Denver housing inventory is 17 percent lower than it was a year ago, and almost 2 percent lower than it was in August. Lower inventory is crucial to a housing inventory.
There is also good news about the Denver economy. The state’s jobless rate fell a half percentage point in August to 7.3 percent. This is the lowest number since February and it contradicts the upward trend of national unemployment rate of 9.7 percent, which inched up last month.
Despite the bright spots, we are still in the midst of a Denver buyer’s market. This is simply the best time in recent memory to purchase a home in the Denver housing market. Interest rates are hovering at around 4.85%, and there is a great selection of homes on the market. Plus, if you are a first-time homebuyer in Denver, you do not miss you’re your opportunity to take advantage of the government’s First Time Homebuyer’s Tax Credit until November 30th.
For more information on the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Forbes.com Ranks Colorado as the 4th-Best State for Business
Forbes.com Ranks Colorado as the “4th-Best State for Business”
Colorado climbed two notches on this year’s Forbes.com’s “best states for business.” States were judged on six criteria, including labor supply, business costs, regulatory environment, growth prospects, economic climate and quality of life, with business costs being the most important factor. Virginia, Washington State, and Utah were the only states ranked above Colorado.
This is good news for the Denver real estate market, which continues to recover from the economic downturn. As long as businesses can thrive in Colorado, its real estate market will eventually follow suit. The Denver and Colorado economies have withstood the national downtown quite well, due to a diverse base of industries. Colorado’s unemployment rate is well below the national one, and the Denver housing market is one of the fastest recovering markets in the entire country.
For more information on the business climate in Colorado, or regarding Denver relocation, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
Colorado Unemployment Rate Drops in August
Search for Denver Real Estate
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