Is Now the Time to Invest in a Denver Home?
Is it time to move up or move on? We never dreamed that interest rates would reach 4.50% for qualified buyers with secure jobs and a good down payment. This is an historic opportunity for families to take advantage of a combination of low housing prices and low interest rates. In a few years, buyers who have had the foresight to take advantage of these current market conditions, will reflect their “brilliant” decision back in 2010 to invest in a Denver home!
TeamCox Realtors is happy to report that our sales activity this summer is outpacing that of the past two summers. We cannot say that the economy has improved, but Denver has never marched to the same ol’ tune as the rest of the country! In fact, our Denver housing market is so good that Denver was recently named the “most improved housing market” in the country by Businessweek. The report cited a 5.8 percent increase in Denver home prices from the first quarter 2009 to the first quarter 2010, and projects a 5 percent increase in Denver home prices over the next year. It also mentioned, and it is our observation as well, that distressed sales in the Denver area have decreased.
Although sales in the Denver real estate market remain uneven, we feel prices in most areas have stabilized, and are actually appreciating in some neighborhoods. This summer, our repeat buyers represent about 50% of our transactions. Three months ago, repeat buyers accounted for only 34% of home purchases. In a more normal market, the ratio is two-thirds repeat buyers. Improvement is also seen in the average time needed to sell a home as reported by our MLS. In 2009 through May of 2009, the days on the market averaged 102. For the same time period this year, we are averaging 83 days on the market. This is a significant improvement, particularly for the homeowner who has to live with having a home on the market!
Now, more than ever, it is essential that you work with a trusted real estate advisor. In those critical areas, not many agents can compete with TeamCox! For more information, please contact us at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Real Estate Update – June 2010
Summer in Colorado is finally here, but is the Denver real estate market heating up with the weather? According to recent Metrolist statistics, the expired homebuyer tax credit continued to boost the Denver housing market in May, as completed sales of homes and condominiums increased a whopping 20 percent from last year.
The bad news? The number of Denver homes put under contract in May decreased 27 percent from 2009, largely the result of the April 30th expiration date of the homebuyer tax credits. Homes must be closed by June 30th to qualify for the tax credit, so June’s numbers will also benefit from the tax credits. The median sold Denver home price increased 4.6 percent to $230,000 from last year.
Denver sellers finally have the confidence to put their homes on the market. As a result, the number of Denver homes for sale rose 6.2 percent from last year. Homes were on the market for an average of 75 days, a 27.9 decrease from 2009, and a five percent decrease from April of this year.
If you are a prospective Denver homebuyer, don’t miss your opportunity to take advantage of historically low interest rates and a great selection of homes for sale. 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.
A Truly Romantic Cherry Creek Home
Happy Valentine’s Day from TeamCox Realtors! A Cherry Creek home was recently named among the country’s most romantic homes. The home, located at 478 Saint Paul Street, was chosen as the ninth most romantic home for sale in the country by TopTenRealEstate Deals.com.
It is the perfect gift for you and your sweetheart if you happen to have $5.7 million to spend on a love nest. It boasts 7,066 square feet, four bedrooms, five baths, an indoor pool, a 1,200-bottle wine celler, a private master deck, a spa living room, and much more!
To see other romamtic Denver homes, please contact TeamCox Realtors at 303-400-6060.
View the Cherry Creek Home’s MLS Listing
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver Home Prices Post Year-Over-Year Increase
There is good news for the Denver real estate market. The closely-watched S&P/Case-Shiller Home Prices Index was released last week, and for the first time since November 2006, home prices in the Denver area posted a year-over-year increase.
Denver was only one out of four cities that had a year-over-year increase in home prices, rising .5 percent between November 2008 and November 2009. This was the first increase after 36 straight months of declines.
This encouraging news, combined with the unprecedented homebuyer tax credits being offered by the government right now, makes right now an ideal time to purchase a Denver home.
For more information on Denver home prices, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
New Denver Homes
What’s happening with Denver builders right now?
It’s amazing to think that the Denver homebuilding industry, which was roaring only five years ago, has been so quiet recently. What is going on with the industry? Two recent reports by the Denver Post, along with our own observations, reveal a few new trends in the homebuilding arena.
New homebuyers are attracted to features, not size, right now. Smaller, simpler homes are selling, partly because of the new Homebuyer Tax Credit, which is attracting many first-time buyers. The recession has also taught people to analyze their finances and buy what they can afford versus the maximum approval price..
Like all current Denver sellers, builders are facing fierce competition from foreclosures, which has forced them to find creative ways to remain competitive. They are finding success with building smaller, less expensive homes. Shea Homes recently opened its first community at Reunion in four years, targeted at younger buyers, which features smaller and simpler designs
Regardless if you are a first-time homebuyer, or a move-up homebuyer, now is the time to jump into the Denver real estate market. For information on purchasing a Denver home, please contact TeamCox Realtors at 303-400-6060. We have extensive knowledge of all of the local Denver homebuilders, and we are here to share our insight with you.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
What Types of Denver Homes Are Selling Right Now?
What Types of Denver Homes Are Selling Right Now?
There are two types of Denver area homes that are selling, despite the rather slow current market conditions – the “gotta have it” home and the “make me a deal” home. The “gotta have it” home is well-positioned in the market, exuding an emotional appeal from the moment the real estate agent pulls up to its curb. Your mother was right – first impressions mean everything, and they are especially important in real estate. Keep in mind, that prior to entering the home, potential buyers are evaluating the yard, the paint, the trim, the cleanliness of the outside entryway, and even if the doorbell works or not. The house is being closely compared with the last home the buyers saw, and it will be quickly be compared with the next one home the list.
The “make me a deal” home is also selling, but this property must be aggressively priced, since the buyer for this home is looking almost exclusively for the best possible price, or the best square footage “deal” in the target neighborhood There is not nearly as much emotion involved with this transaction as with the “gotta have it home.” Obviously, the best possible combination for a quick sale is if the best priced home also happens to be great looking and in good condition.
As an Accredited Staging Professional, TeamCox Realtors – your Denver real estate specialists – can give you guidance in getting your home ready for the market, along with many other complimentary services that we can offer.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Calling All First-Time Denver Homebuyers!
.jpg)
Calling all first-time Denver homebuyers – it simply is a great time to buy your first home! Since President Bush just signed the far-reaching housing bill, H.R. 3221, into law, TeamCox Realtors wanted to notify our prospective homebuyers of the changes that will take effect on October 1, 2008. Some of the highlights include:
There will be a ban on down-payment assistance from sellers for all FHA loans. This means that if you are pre-approved to purchase a home through a down payment assistance program, such as the Nehemiah Program, you will need to act quickly to purchase a home before October 1st.
- The required down payment for FHA loans will also increase from 3% to 3.5%.
- There is a new $7500 homebuyer tax credit that is available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years, which makes it in effect, an interest-free loan.
Please click here to read more about the changes in store for homebuyers. For more information on how the new law will affect you, please contact us at 303-400-6060. TeamCox , Denver real estate specialists, would love to help you find your dream home.
Denver Home Prices Continue to Improve
More Good News for the Denver Real Estate Market!
.jpg)
The monthly S&P/Case-Shiller Home Price Indices report was released today, and there is more good news for the Denver real estate market. The report, an important barometer of both the local and national real estate markets, revealed that although Denver home prices are 4.8 percent lower than they were a year ago, there was a 1 percent increase from April to May of this year. Boston, Charlotte, and Dallas were the only other cities to see a 1 percent increase, and Atlanta, Portland, and Minneapolis also saw modest increases. While the 4.8 percent year-over-year decrease may not be pretty, it was the third best number on the report, which encompasses 20 metropolitan areas. Only Charlotte (-.2%) and Dallas (-3.1%) saw a lower year-over-year decline in home prices than Denver did.
Staging is Essential in a Competitive Denver Real Estate Market
Every seller should consider staging to get highest possible return on their dollar
In a competitive Denver real estate market, eager sellers need to pull out all of the stops for their home to stand out from the sea of others. At TeamCox Realtors, we highly recommend staging a home, prior to putting it on the market. Staging is not about spending your money, but preserving your home’s equity. Contrary to some opinions, staging is not a fad – it is what every wise homeowner should do to get the highest possible return on their dollar, in the fastest amount of time.
It is important to remember that as your Realtor, I am selling your home, not your stuff. Since a potential buyer is not only looking at a home’s square footage, but also determining how his furnishings will fit into it, your home must be neutral so the buyer can see all of its possibilities.
The following are a few essential staging tips that we provide all of our sellers with:
-
The home should be Q-tip clean
-
Remember, less is more
-
Keep the room balanced
-
Let there be light – as much light as possible!
-
Reduce the amount of furniture
-
Take anything out that you have not used in eight weeks
-
Add greenery to every room
-
All vertical and horizontal lines should be neutral
-
Add color for accent and accessories
-
Paint will yield the highest return on your investment
-
Pictures should be hung at the average person’s eye level
-
Stagger picture height only when it follows an architectural line such as an staircase.
Having undergone extensive training to become Accredited Staging Professionals (ASP), TeamCox Realtors can help your home shine. We also recommend the services of Trish Pachak, Accredited Senior Staging Professional Designer and Owner of WeStageColorado, who recently staged one of our Piney Creek listings. Not suprising to either Trish or TeamCox, the first couple that toured the home bought it for 98.5% of its list price. Needless to say, the home seller is absolutely ecstatic with their decision to invest in staging, since it obviously resulted in a high return and a shorter marketing time.
For more information on getting your Denver home ready to put on the market, please contact TeamCox Realtors.
Related Links
Check out our Cutting-Edge Denver MLS Search Provider!
Landscaping Helps Homes Stand Out in Tight Denver Real Estate Market
Landscaping projects help but sellers shouldn't go overboard with costly outdoor projects
Thinking of Selling you Denver Home?
Click Here for a FREE Competitive Market Analysis!
Landscaping Helps Homes Stand Out in Tight Denver Real Estate Market
Landscaping projects help but sellers shouldn't go overboard with costly outdoor projects
It’s amazing what a few flowers will do for a home’s appeal! 
In a tight Denver real estate market, every extra thing that a seller can do to help his home stand out from the glut of unsold homes will help. At TeamCox Realtors, we advise our clients that their house must be in top-notch condition for a quick sale. We are currently listing two beautiful homes that are in pristine showing condition. Their overall appeal to buyers is helping them stand out in a competitive market.
During the spring and summer months, a home’s landscaping is especially important in a tight real estate market. A very informative article, "Outdoor Attraction" by Christian Toto, appeared in The Denver Post over the weekend. It examines the impact of a home’s landscaping on its salability. The article reveals that sellers are increasing their landscaping budgets as the housing market tightens. It brings up a very important point, though. While landscaping projects can help sell a home, it is important not to go overboard on outdoor projects, or you won’t see a solid return on your investment. This is a great point since kitchen and bathroom improvements often yield a higher return than landscaping.
While the article mentions installing costly concrete stamped patios or outdoor entertaining areas (keep in mind that a concrete stampled patio can cost up to $10,000), there are more simple things that a homeowner can do to improve the overall curb appeal to his or her home. For starters, try planting some colorful flowerbeds (tulips are beautiful in the spring!) or some new sod to patch up those problem areas. Trees are also a good investment since they are not only attractive, but provide shaded areas that might even eventually improve a home’s energy efficiency.
For more information on getting your home ready to sell in a tight Denver housing market, please contact TeamCox Realtors at 303-400-6060. We will help your home stand out from the crowd!
For more information on getting your home ready to sell in a tight Denver housing market, please contact TeamCox Realtors at 303-400-6060. We will help your home stand out from the crowd!
Related Links
Looking for your dream yard? Search the Denver MLS!
Denver's Smaller Lot is Not a New Trend!
Making the most of a small Denver yard
Optimizing a Home's Curb Appeal in a Competitive Denver Real Estate Market
A Home's Curb Appeal is Crucial in Attracting Buyers
