Stage Your Home First
TeamCox Realtors is pleased to introduce, Lynn Bruskivage, of LGA Home Solutions, LLC. Lynn will be an ocassional guest blogger for us, focusing on issues related to getting your Denver home ready to go on the market.
Stage Your Home First
Don’t waste valuable days letting your home sit on the market without “staging” your home first. Most real estate professionals recommend staging your home for resale. Staged homes spend 83% less time on the market, according to the Association of Staging Professionals (ASP). Data collected from the last two quarters of 2009 showed that a staged home averaged 37 days on the market compared to 212 days on the market for a non-staged home.
First impressions are important and that is why staging works! By presenting your home in its best possible condition, you “set the stage” for your home to be sold quickly. This is accomplished through room editing, furniture arranging, and organization. Some refer to Staging as Interior Re-Design. This process will make a home more desirable to potential homebuyers, as well as lead to a quick sale at a higher price point.
It is a pleasant surprise to most that for a small investment, the return can prove quite substantial! The National Association of Realtors (NAR) shows that the average staging investment of 1-3% of the home’s asking price can generate a return of 8-10%! That is an average return on investment of around 340%!
Please visit our website @ www.lgahomesolutions.com to see what we can do for you.
Our services include:
• Staging & Staging Consultation
• Room/Home Makeovers & Decorating
• Professional Organization
• Move-in Services
…and more!
During the month of August we are offering a 10% discount on all services!
As always we offer a:
• 10% discount for senior citizens & military
• $100 first time discount on initial consultation for realtors
Call us today and let us transform your home! 303-929-1790
Lynn Bruskivage, Owner
LGA Home Solutions, LLC
303-929-1790
lynn@lgahomesolutions.com
www.lgahomesolutions.com
member of the Colorado Association of Staging Professionals CASP / HSE Certified
If you have questions about getting your Denver-area home to sell, 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 Home Prices Continue to Rise
TeamCox Realtors always keeps a close eye on the monthly S&P/Case-Shiller Home Prices Indices report, which was released today. There was good news for the Denver real estate market with Denver home prices rising once again from last year. This is the seventh month in a row that Denver home prices have shown a year-over-year increase.
The closely-analyzed report indicated a 3.6 percent increase from May 2009 to May 2010, and a .6 percent increase from April of May to this year. The year-over-year increase was the thirteenth best showing in the country.
If you are a prospective Denver homebuyer, there is no better time than the present to purchase a home. There is a great selection of homes to choose from, and interest rates are hovering at historical lows. This perfect scenario will not last forever, so don’t miss the opportunity to purchase your dream home in Denver. For information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
Denver Named Most Improved Housing Market
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Uptick in Denver High-End Home Sales
There is good news for the high-end Denver real estate market, a segment among the hardest during the downturn. The Denver Business Journal reported this week that June sales activity for Denver resales priced over $1 million hit its highest level since 2008. In June, there were 77 homes sold that were priced over $1 million, a 3 percent increase from last year, and a 22 percent increase from last month.
This is great news for the health of the overall Denver housing market, since high-end homes have not moved quickly over the past years. This has been a great frustration to Denver sellers who are trying to downsize into smaller homes. It is a great relief that luxury homes are finally starting to sell in a shorter amount of time.
Denver Business Journal’s article cites that Denver had the most high-end sales, along with Boulder, Castle Rock, Cherry Hills Village, and Greenwood Village.
We hope to hear more encouraging news like this over the coming months, as historically low interest rates will increase Denver buyers’ buying power, often pushing them into a higher price point. For more information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
Is Now the Time to Invest in a Denver Home?
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
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 – July 2010
There is good news and bad news for the Denver real estate market this summer. We’ll start with the bad news first. Denver home sales stalled following the expiration of the homebuyer tax credits at the end of April, resulting in a 31 percent decrease in properties under contract for sale in June 2010 from June 2009. This was a completely expected hangover from the intense sales activity leading up to the April 30th expiration of the homebuyer tax credits.
The good news? According to the recently-released S&P/Case-Shiller Home Prices Indices and recent data from Metrolist, Denver home prices increased year-over-year for the sixth consecutive month in a row. Metrolist data reveals that despite the drop in sales, Denver’s median home price increased to $244,000 in June, a 2.7 percent increase from June 2009. This is also an increase from May’s median price of $230,000.
There are so many reasons to purchase a Denver home right now, the main one being that interest rates hit a 50-year low last week – landing between 4 and 4.6 percent depending on the loan type. These once-in-a-lifetime low interest rates give Denver homebuyers an opportunity to purchase their dream home at a higher price point than they would have been able to purchase only a few months ago. There is also a great selection of Denver homes for sale, as the inventory of homes for sale increased slightly in June.
While the tax credit party has definitely ended for the Denver real estate market, we expect a continued steady recovery fueled by low interest rates. 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 Home Prices Rise Again
There was more good news for the Denver housing market last week. According to the recently-released S&P/Case-Shiller Home Prices Indices, for the six month in a row, Denver home prices increased year-to-year.
The closely-analyzed report indicated a 4.4 percent increase from April 2009 to April 2010. This is the tenth best showing in the country. Denver home prices rose 1.7 percent from March to April, which was the seventh highest monthly increase of the 20 cities in the report. The average price increase of all cities surveyed was 3.8 percent. San Francisco saw the biggest year-to-year increase in April (18 percent), along with San Diego (11.7 percent) and Minneapolis (9.5 percent).
Slow and steady has always won the race for the Denver housing market. It never saw the huge gains in housing prices that many other cities had, and didn’t suffer the huge falls that followed. For information on the state of the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.
Denver Named Most Improved Housing Market
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver’s Population Grew 10 Percent Over the Last Decade
The city of Denver’s population grew by 56,654 people over the last decade, according to a recent article in the Denver Business Journal on new U.S. Census Bureau numbers. Between 2000 and 2009, Denver’s population grew to 610,345, a 10.2 percent increase. This makes Denver the 24th largest city in the country. Other fast-growing Colorado cities include Thornton with a whopping 42.6 growth rate, and Aurora with a 17.4 percent growth rate. The three largest cities in the country continue to be New York, Los Angeles, and Chicago, respectively.
Denver’s growth spurt reflects a new trend of slowing suburban growth, especially during the the recession in the latter part of the decade. People are apparently less mobile and are sticking to more urban areas.
For information on Denver real estate, please contact TeamCox Realtors at 3030-400-6060.
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.
Why Should You Buy a Denver Home After the Homebuyer Tax Credit Expired?
We’ve been asked numerous times over the past month: “Why should I purchase a home now when the tax credit expired at the end of April?”
The answer is simple. Interest rates have fallen dramatically since April 30th. The following example illustrates how interest rates can dramatically increase your buying power. Think about it in terms of a $250,000 loan. The average interest rate in April was 5.34 percent, meaning that the principal and interest every month on a 30-year fixed loan would be $1394.48 and cost $471,111 over the life of the loan. The average interest rate is currently around 4.78 percent, meaning that the average principal and interest payment on the same loan would be $1308.64 per month and cost $502,012 over the life of the loan.
By purchasing the same home right now versus in April, you would save $86 per month and close to $31,000 over the life over the loan. Since the homebuyer tax credits ranged from $6,500-$8,000, it is obvious that a lower interest rate will save you much more money in the long-run.
Since there was a mad dash in April to purchase a home by the April 30th deadline, there is less competition out there right now, meaning that you have more homes to choose from and you have more negotiating power.
If you are a Denver homebuyer, don’t miss your opportunity to take advantage of these once-in-a-lifetime interest rates. For Denver mortgage lender recommendations, or for 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.
Denver Among Nine “Next Frontier” Metro Areas
A recent Brookings Institution analysis of 2000 to 2008 U.S. Census Bureau data reveals that the Denver area (Aurora/Denver) is poised as a model for economic growth in the coming decades. Denver has a young, highly-educated population that will serve as a foundation for future prosperity.
The study named the Denver area as one of nine “Next Frontier” metro areas that are in the best shape to handle a more diverse, growing population. The study analyzed data from 100 metro areas.
A few concerning trends emerged from the data, including a large education attainment gap between Latinos and Whites, and a large gap between high and low earners.
For information on relocation to Denver, or regarding Denver real estate, please contact TeamCox Realtors at 303-400-6060.
What Are the Hottest Jobs in Denver?
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
