tag:blogger.com,1999:blog-89878393479704539512024-03-08T01:41:49.887-08:00Sharing Real Estate Info With WambsganssWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.comBlogger63125tag:blogger.com,1999:blog-8987839347970453951.post-3497433277123870722023-01-28T13:13:00.003-08:002023-01-28T13:29:33.867-08:00<p>Hello Everyone: I've had clients request an overview of Residential sales in the Loveland, Colorado area. I thought I would also share the information below with you too. Statistics show price changes from 2013 through the end of 2022</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiNJ4-bBR2v6JVfuThapJ9kwBr2eyNehhcFiMyq1sU9-YH9JfKU9nYXi-k_2LYrlX0xglmyAWtj0rOQqFeKL7wM01wCKlpdZshmJOP7Hi_sanqDCYyfmChwELqJHG2SLHjEakXAvUurjFlGbOZApacFZrkAVuO2P22Omabxgy5aSmCJCIdUlp-DR0oR" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="480" data-original-width="640" height="300" src="https://blogger.googleusercontent.com/img/a/AVvXsEiNJ4-bBR2v6JVfuThapJ9kwBr2eyNehhcFiMyq1sU9-YH9JfKU9nYXi-k_2LYrlX0xglmyAWtj0rOQqFeKL7wM01wCKlpdZshmJOP7Hi_sanqDCYyfmChwELqJHG2SLHjEakXAvUurjFlGbOZApacFZrkAVuO2P22Omabxgy5aSmCJCIdUlp-DR0oR=w400-h300" width="400" /></a></div><br /><br /><p></p>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-83309290729051746862023-01-28T12:59:00.000-08:002023-01-28T12:59:21.892-08:00<p> Hello Everyone: Below you will find Real Estate Statistics for an 11 county area around Metro Denver. These numbers came from First Alliance Title.</p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgUY8G3G8waLO-zb7phUYtdg5qxq_5KQDyqoKkJRO0Zz646aR07TYIxqABxWV19ay1UtKE7hkGtkUV6GPt03wl3AYN5RQ7JLr3oNhBvq0eEAxNsv2TMAj7mc-9QzpZaCaRquqF0SO3-0wZoRWnmFZudlDXczR5DckjGtcirmoSG_-Fw607I2THgC-cg" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="3375" data-original-width="3375" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEgUY8G3G8waLO-zb7phUYtdg5qxq_5KQDyqoKkJRO0Zz646aR07TYIxqABxWV19ay1UtKE7hkGtkUV6GPt03wl3AYN5RQ7JLr3oNhBvq0eEAxNsv2TMAj7mc-9QzpZaCaRquqF0SO3-0wZoRWnmFZudlDXczR5DckjGtcirmoSG_-Fw607I2THgC-cg=w320-h320" width="320" /></a></div><br /><br /><p></p>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-3595190559735149482023-01-28T10:08:00.001-08:002023-01-28T10:08:22.481-08:00<p> Hello everyone: </p><p><span style="background-color: white; font-family: Calibri, Helvetica, sans-serif; font-size: 12pt;">Below is an article that gives an overall view of what happened in Real Estate in 2022</span></p><div class="x_elementToProof" style="background-color: white; border: 0px; color: #242424; font-family: "Segoe UI", "Segoe UI Web (West European)", "Segoe UI", -apple-system, BlinkMacSystemFont, Roboto, "Helvetica Neue", sans-serif; font-size: 15px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><div style="border: 0px; color: black; font-family: Calibri, Helvetica, sans-serif; font-size: 12pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><br aria-hidden="true" /></div><div id="x_Signature" style="border: 0px; color: inherit; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><div style="border: 0px; color: inherit; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><div style="border: 0px; color: black; font-family: Calibri, Helvetica, sans-serif; font-size: 12pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><p class="x_MsoNormal x_ContentPasted0" style="margin-bottom: 0px; margin-top: 0px;">2022 Statistics from Recolorado.com</p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 22.5pt; margin-bottom: 0in; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #003b5b; font-family: Roboto; font-size: 18pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Closed Prices</span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 18pt; margin-bottom: 11.25pt; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #3e3e3e; font-family: Roboto; font-size: 10.5pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">The median closed price of a residential property was 12% more than in 2021—and 55% higher than five years ago! In the Spring, buyers paid an average of 6.8% more than the original list price. However, home price growth did slow during the second part of the year as demand eased. The end of 2022 brought price reductions and sellers who were willing to accept offers lower than the original price they listed. In December, buyers paid an average of 5.7% less than the original list price.</span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 18pt; margin-bottom: 11.25pt; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #3e3e3e; font-family: Roboto; font-size: 10.5pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">The most active price range, in terms of closings in 2022, was $500-600,000, which represented 20% of all residential property sales. While closings decreased overall in 2022, there was an increase in sales in every price range above $700,000 as home prices remained high. Closings of homes priced above $700,000 increased 5% from 2021 to 2022.</span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 22.5pt; margin-bottom: 0in; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #003b5b; font-family: Roboto; font-size: 18pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Days in MLS</span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 18pt; margin-bottom: 11.25pt; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #3e3e3e; font-family: Roboto; font-size: 10.5pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">The pace of sales slowed considerably throughout the year. During the first part of 2022, contracts were executed on homes in a median of four to five days. As demand decreased in the second part of the year, median days in MLS increased significantly. In December, properties were actively for sale in the MLS for a<br aria-hidden="true" class="x_ContentPasted0" />median of 31 days.</span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 18pt; margin-bottom: 11.25pt; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #3e3e3e; font-family: Roboto; font-size: 10.5pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">The link to the article is below and has additional information. Feel free to call and brainstorm with me. </span></p><p class="x_MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: 18pt; margin-bottom: 11.25pt; margin-top: 0px;"><span class="x_ContentPasted0" style="border: 0px; color: #3e3e3e; font-family: Roboto; font-size: 10.5pt; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">Entire article: </span><span style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><a class="x_ContentPasted0" data-auth="NotApplicable" data-linkindex="0" href="https://blog.recolorado.com/denver-metro-market-watch-2022-year-end-report/" rel="noopener noreferrer" style="border: 0px; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" target="_blank">https://blog.recolorado.com/denver-metro-market-watch-2022-year-end-report/</a></span></p><div><br /></div></div></div></div></div>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-3291501483381629362023-01-25T16:41:00.000-08:002023-01-25T16:41:00.697-08:00<p> </p><p class="MsoNormal">This is a Blog and not a “website”, however, I choose to use
a blog because it gives me the opportunity to post items I believe are
important for buyers and sellers to read off and on.<span style="mso-spacerun: yes;"> </span>As you can see, I have not posted in <u>many
years</u>.<span style="mso-spacerun: yes;"> </span>The reason:<span style="mso-spacerun: yes;"> </span>I have been working for a Real Estate Company
and had a website through their company.<span style="mso-spacerun: yes;">
</span>I am presently an Independent Realtor, part of Loveland/Berthoud Real
Estate Association and the Independent Realtors within that group.<span style="mso-spacerun: yes;"> </span>So, I decided to go back to my old blog and
utilize this instead of creating a website.<span style="mso-spacerun: yes;">
</span>I find that websites are good, but most of the information you find on
one Real Estate Agents website you can find about anywhere.<span style="mso-spacerun: yes;"> </span>I am hoping to find time off and on posting
something you might not find everywhere.<span style="mso-spacerun: yes;">
</span>Hopefully, I can find time for that<b><u>.<span style="mso-spacerun: yes;"> </span>If you want to look for Homes for sale in
Colorado the best site I have found is Recolorado.com<span style="mso-spacerun: yes;"> </span>this site is where Real Estate Agents in
Colorado Post their homes for sale</u></b>.<span style="mso-spacerun: yes;">
</span>It is real time and you will not miss properties listed because it shows
up as soon as a Real Estate Agent makes it go live.<span style="mso-spacerun: yes;"> </span>If you need help let me know.<span style="mso-spacerun: yes;"> </span>It is very user friendly. I love sharing my
knowledge!!! If you have any Real Estate Question, don’t hesitate to reach out
to me.<span style="mso-spacerun: yes;"> </span>303-880-8771 or <a href="mailto:dwambs@msn.com">dwambs@msn.com</a><span style="mso-spacerun: yes;">
</span>I also have a strong network of people I know in the Real Estate world
overall so if you need a Mortgage, Title work, Inspection etc. give me a call.<o:p></o:p></p>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-35866552999023689252013-10-16T14:26:00.000-07:002013-10-16T14:26:13.787-07:00Interest Rates still Low<div style="font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">
We hope these charts help Buyers see that it is still a great time to purchase a Home!!</div>
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<a href="http://www.mediacenternow.com/chartpdf.aspx?u=%7b9A6D3071-E8AE-43D3-90EA-3274B3A1F4D4%7d&type=2" target="_blank"><span style="color: #0072c6;">Click Here for the 30 Year FHLMC Rates On 30-Year Fixed-Rate Mortgage Chart</span></a> </div>
<div style="font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">
<a href="http://www.mediacenternow.com/chartpdf.aspx?u=%7b9A6D3071-E8AE-43D3-90EA-3274B3A1F4D4%7d&type=1" target="_blank"><span style="color: #0072c6;">Click Here for the 200 Year Historical Rates On 30-Year Fixed-Rate Mortgage Chart</span></a> </div>
<div style="font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">
<a href="http://www.mediacenternow.com/chartpdf.aspx?u=%7b9A6D3071-E8AE-43D3-90EA-3274B3A1F4D4%7d&type=5" target="_blank"><span style="color: #0072c6;">Click Here for the 20 Year FHA Interest Rate Average For 30 Year Fixed-Rate Mortgage Chart</span></a></div>
<div style="font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">
<a href="http://www.mediacenternow.com/chartpdf.aspx?u=%7b9A6D3071-E8AE-43D3-90EA-3274B3A1F4D4%7d&type=3" target="_blank"><span style="color: #0072c6;">Click Here for the Rent vs. Buy Index Chart</span></a></div>
<div style="font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">
<a href="http://www.mediacenternow.com/chartpdf.aspx?u=%7b9A6D3071-E8AE-43D3-90EA-3274B3A1F4D4%7d&type=6" target="_blank"><span style="color: #0072c6;">Click Here for S&P/Case-Shiller Home Price Indices Chart</span></a></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-88920463965228497662013-03-19T15:47:00.001-07:002013-03-19T15:47:27.448-07:00
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="color: red; font-size: 14pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">Real Estate Term of the Day: FLASH SALE –<o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"> </span>a listing that goes under contract within 24
hours of its being placed on the market.<o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"> </span>Denver has had 115 Flash Sales within the last
5 months and we expect to see many more as "Buying Season" heats up
while our inventory remains depleted.<o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">According
to Redfin Denver was in the top 9 cities across the country for having FLASH
SALES!<o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">The
inventory in the Metro Denver Market is still the lowest it has been in many
years.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">What a
GREAT time to sale your home.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">This month
I<span style="mso-spacerun: yes;"> </span>had buyers that put an offer down on a
home that was on the market for 24 hours and the seller had received 5 offers
total.<span style="mso-spacerun: yes;"> </span>Because of the creative offer we
developed I was able to get my buyers under contract on this home!<o:p></o:p></span></span></b></span></div>
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<span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;"><span style="font-family: Calibri;">Trends
show prices will continue to rise and interest rates will continue to rise, so
if you are thinking about buying a home NOW is the time before you end up
paying higher interest rates and higher prices and get less of a home than you
can buy now. <o:p></o:p></span></span></b></span></div>
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<span style="font-family: Calibri;"><span class="usercontent"><b style="mso-bidi-font-weight: normal;"><span lang="EN" style="font-size: 12pt; line-height: 115%; mso-ansi-language: EN;">For a
Free Market Analysis of your home or a free consultation about buying a home
feel free to call Denise Wambsganss at 303-880-8771 or email: dwambs@msn.com</span></b></span><b style="mso-bidi-font-weight: normal;"><span style="font-size: 12pt; line-height: 115%;"><o:p></o:p></span></b></span></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com1tag:blogger.com,1999:blog-8987839347970453951.post-41377098585475822362013-01-14T10:00:00.003-08:002013-01-14T10:00:51.204-08:00
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<b style="mso-bidi-font-weight: normal;">Real Estate News<o:p></o:p></b></div>
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<o:p> </o:p></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">Happy New Year! Now that the holidays
are over it’s the perfect time to talk about what I think the real estate
market will look like in 2013. So let’s jump right in. <o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">According to Fannie Mae’s Dec. National
Housing survey, Americans believe that home prices will rise 2.6% in 2013.<span style="mso-spacerun: yes;"> </span>This number is <u>TOO LOW</u> for what has
been happening and what will continue to happen in the Metro Denver Market. I
decided to give you some concrete facts because I have found that many people
have no idea how HOT the Metro Denver Real Estate Market has become. <o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">Average
Home Price:</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;"> <b style="mso-bidi-font-weight: normal;"><u>The
average price of a home in Denver</u></b> <b style="mso-bidi-font-weight: normal;"><u>leapt
14%</u></b> in 2012, surpassing even the most optimistic forecasts (including
my own!). I believe this year will be almost as strong with an average price
increase of 8-10% and here’s why: The number one driver of home price change is
the amount of inventory on the market. In 2007 we had a peak of 27,500
properties on the market and prices dropped 14%, while in 2012 we averaged
10,000 properties on the market and prices went up 14%. </span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">I will be posting several times in the next few days with more info on 2012 stats.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">Your
Castle Real Estate:<span style="mso-spacerun: yes;"> </span></span></b><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-bidi-font-size: 9.0pt;">I
am very Proud to work for Your Castle Real Estate.<span style="mso-spacerun: yes;"> </span>This company is always the most accurate when
it comes to facts and figures on the Metro Denver Real Estate Market.<span style="mso-spacerun: yes;"> </span>That is one reason why we are the 5<sup>th</sup>
Fastest growing, Denver area, Privately Owned companies. (source DBJ Research</span><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Times New Roman","serif"; font-size: 14pt; mso-themecolor: text1;">).</span></b><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Times New Roman","serif"; font-size: 14pt;"><span style="mso-spacerun: yes;"> </span>If
you want statistics about your specific neighborhood feel free to contact me
at<span style="mso-spacerun: yes;"> </span><a href="mailto:dwambs@msn.com"><span style="color: red;">dwambs@msn.com</span></a> or 303-880-8771<span style="mso-spacerun: yes;"> </span>Denise Wambsganss – Realtor – Your Castle
Real Estate.<o:p></o:p></span></b></div>
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<o:p> </o:p></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-62841591659334058732012-12-06T14:07:00.001-08:002012-12-06T14:07:03.329-08:00
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<b><u><span style="mso-bidi-font-family: Calibri; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri; font-size: large;">REAL ESTATE NEWS for Metro Denver: December 2012</span></span></u></b></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri;">Starting
in March residential homes prices began leaping upward and have not stopped
since. In September, something happened that has not occurred since 2007.</span></span><span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<span style="font-family: Calibri;"><span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="mso-spacerun: yes;"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">For the first time in five years the average
price of a metro Denver home exceeded the prices we hit at the top of the
market back in 2007!</span></b></span></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"> </span>This is a stunning comeback for our market
which is typically the Housing cycle is a 7 year cycle. So looks like we are in
the beginning of the upward swing of the 7 year cycle!</span></span><span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<span style="font-size: 12pt; line-height: 115%; mso-bidi-font-family: Calibri;"><span style="font-family: Calibri;">The metro Denver real estate market continues its incredible recovery,
leaving our downturn a distant memory. Consider these facts:</span></span></div>
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<span style="font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-size: 12pt; mso-bidi-font-family: Calibri;"><span style="font-family: Calibri;">The inventory of homes for sale is down 30% in the past 12 months.<o:p></o:p></span></span></div>
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<span style="font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-size: 12pt; mso-bidi-font-family: Calibri;"><span style="font-family: Calibri;">The number of sold homes is up 11% in the past 12 months.<o:p></o:p></span></span></div>
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<span style="font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-size: 12pt; mso-bidi-font-family: Calibri;"><span style="font-family: Calibri;">The average Days on Market is down 34% in the past 12 months. <o:p></o:p></span></span></div>
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<span style="font-family: Symbol; font-size: 12pt; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol; mso-font-kerning: 18.0pt;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="font-family: Calibri;"><span style="font-size: 12pt; mso-bidi-font-family: Calibri;">The average price of a home is up 13% in the past 12 months. </span></span><span style="font-size: 12pt;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri;">The condo market is extremely strong right now. In
2011 the average price of a condo in metro Denver went up 16%. Incredibly,
prices are up another 18% so far in 2012. The inventory of condos for sale is
at a record low of 2.4 Months of Inventory (MOI) where a balanced market would
have 6 MOI. It appears that prices will continue to rise. So, if you are serious
about purchasing a condo or a home it might be a good time to get serious. The
longer you wait the more you will pay and the less you will get, as well as
potentially paying a higher interest rate.</span></span></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri;">For more information call Denise Wambsganss –
Realtor – Your Castle Real Estate</span></span></div>
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<span style="font-size: 12pt; mso-bidi-font-family: Calibri; mso-bidi-font-weight: bold; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><span style="font-family: Calibri;">303-880-8771<span style="mso-spacerun: yes;"> </span></span><a href="mailto:dwambs@msn.com"><span style="color: windowtext;"><span style="font-family: Calibri;">dwambs@msn.com</span></span></a><span style="font-family: Calibri;"><span style="mso-spacerun: yes;"> </span>Feel free to call for a free Market Analysis
of your home.</span></span><span style="font-family: "Times New Roman","serif"; font-size: 12pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<o:p><span style="font-family: Calibri;"> </span></o:p></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com1tag:blogger.com,1999:blog-8987839347970453951.post-6730111389580113082012-10-05T08:54:00.001-07:002012-10-05T08:54:48.014-07:00Metro Denver Real Estate Stats as of Sept. 30 2012<br />
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<span style="font-size: 12pt; line-height: 115%;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12pt;">AVERAGE PRICE OF
PROPERTIES CLOSED:<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12pt;"><o:p> </o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12pt;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;">
</span>SingleFamily <span style="mso-spacerun: yes;"> </span>Condos <span style="mso-spacerun: yes;"> </span>Residential<o:p></o:p></span></b></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12pt;">This Month<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>$282,305 <span style="mso-spacerun: yes;"> </span>$186,843 <span style="mso-spacerun: yes;"> </span>$306,633<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12pt;">Last Month <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>$285,692 <span style="mso-spacerun: yes;"> </span>$183,359 <span style="mso-spacerun: yes;"> </span>$311,893<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12pt;">This Month, Last Year <span style="mso-spacerun: yes;"> </span>$254,078<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>$159,980 <span style="mso-spacerun: yes;"> </span>$280,289<o:p></o:p></span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;">Year to Date Average, This Year<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>$278,100 <span style="mso-spacerun: yes;"> </span>$176,961<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>$302,809</span></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12pt; line-height: 115%;">It is a GREAT time to put your home on the market. If you are looking to purchase a home you better start thinking about moving on it NOW before prices continue to rise and you purchase less for more $. Give me a call or email. Denise Wambsganss - Realtor - with Your Castle Real Estate - 303-880-8771 <a href="mailto:dwambs@msn.com">dwambs@msn.com</a></span></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-46054612059323495712012-09-18T07:05:00.001-07:002012-09-18T07:05:26.879-07:00
TITLE INSURANCE<br />
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<b style="mso-bidi-font-weight: normal;"></b> </div>
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<b style="mso-bidi-font-weight: normal;">Every time I work with a Buyer or Seller they ask about Title Insurance. I find it can be very confusing, so I have a description of the two kinds of Title Insurance below and why they exist. </b></div>
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<b style="mso-bidi-font-weight: normal;">Title Insurane
Descriptions</b><b style="mso-bidi-font-weight: normal;"><o:p> </o:p></b></div>
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If you have recently purchased or refinanced a home, chances
are you have had to get title insurance. Basically, title insurance protects
you against problems affecting the title to your home. There are two types of
title insurance—a Loan Policy, and an Owner’s Policy. A Loan Policy protects
the lender for the amount of the loan, while the Owner’s Policy protects you,
the homeowner, for your investment in the property—your equity. In both cases,
the title <i style="mso-bidi-font-style: normal;">process</i> covers an
exhaustive search of public records to make certain the title to the subject
property is clear, and covers against future loss if a claim against the
property is made. While discovering an issue with your title can seem rather
remote, one out of every four title searches reveals a problem with the title.
Examples include tax liens, forged signatures in the chain of title, recording
errors, title search errors, undisclosed easements, and title claims by missing
heirs and/or ex-spouses. Fortunately, these problems would be uncovered in a
title search before you even close on your home.<span style="mso-spacerun: yes;"> </span></div>
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<span style="mso-spacerun: yes;">If you want to brainstorm about anything related to Real Estate dont' hesitate to call or email Denise Wambsganss - Realtor - Your Castle Real Estate 303-880-8771 <a href="mailto:dwambs@msn.com">dwambs@msn.com</a></span></div>
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-28041211240837332622012-09-12T11:26:00.001-07:002012-09-12T11:26:55.107-07:00<b><span style="font-family: Arial; font-size: small;"><span style="font-family: Arial; font-size: small;"><div align="LEFT">
WOW, Look at how the Real Estate marketin is changing !!</div>
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METRO DENVER REAL ESTATE STATISTICS</div>
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AS OF AUGUST 31, 2012</div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">Based Based</span></span></div>
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
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On Properties On Properties </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">This report summarizes the sales of</span></span></div>
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</span></span><b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></b><br />
<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Under Contract Closed </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">residential real estate units during the</span></span></div>
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reported-on period. Please note:</div>
</span><br /></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month 5,196 4,685</div>
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Last Month 5,236 4,618 </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">1) The reported units have been</span></span></div>
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</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Percentage Change - 0.8% + 1.5% </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">adjusted for the calendar month</span></span></div>
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</span></span><br />
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(as defined by MLS cut-off dates each</div>
</span><br /></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month, Last Year 4,537 3,973 </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">month) in order to put such periods on</span></span></div>
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</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Percentage Change, + 14.5% + 17.9% </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">a comparable basis.</span></span></div>
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</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Compared To This Year</div>
</span><br /></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
2) Under Contract units reflect</div>
</span><br /></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
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Year to Date, This Year 40,348 31,163 </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">those properties reported as "under</span></span></div>
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
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Year to Date, Last Year 33,485 26,643 </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">contract" during the period - i.e., a</span></span></div>
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Percentage Change + 20.5% + 17.0% </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">binding contract was executed</span></span></div>
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between buyer and seller.</div>
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3) Closed units reflect the passing</div>
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of title. The close date generally lags</div>
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30-90 days behind the under contract</div>
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<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
UNSOLD HOMES ON THE MARKET: </div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">date and is often distorted by many</span></span></div>
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<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
outside factors unrelated to the extent</div>
</span><br /></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month 10,826 </div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">of real estate activity.</span></span></div>
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month, Last Year 16,631</div>
<br />
<div align="LEFT">
Percentage Change - 34.9%</div>
</span><br /></span><i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></i><br />
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This representation is based in whole or in part</div>
</span><br /></span><br /></i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month 10,826 </div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">on data supplied by Metrolist, Inc. Neither the</span></span></i></div>
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span></i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Last Month 10,827 </div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">member Boards of Realtors nor their MLS</span></span></i></div>
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span></i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
Percentage Change - 0.0% </div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">guarantees or is in any way responsible for its</span></span></i></div>
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span></i><br />
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
accuracy. Data maintained by the Boards or</div>
</span><br /></span><br /></i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></b><br />
<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
WEEKLY SALES RATE: </div>
</span></span></b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">their MLS may not reflect all real estate activity</span></span></i></div>
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
</span></span></i><br />
<i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
in the market.</div>
</span><br /></span><br /></i><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month 11.08%</div>
<br />
<div align="LEFT">
This Month, Last Year 6.30%</div>
</span><br /></span><b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></b><br />
<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
AVERAGE PRICE OF PROPERTIES CLOSED: Single</div>
<br />
<div align="LEFT">
Family Condos Residential</div>
</span><br /></span><br /></b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span><br />
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
This Month $285,692 $183,359 $311,893</div>
<br />
<div align="LEFT">
Last Month $288,884 $190,269 $312,920</div>
<br />
<div align="LEFT">
This Month, Last Year $260,821 $168,050 $284,065</div>
<br />
<div align="LEFT">
Year to Date Average, This Year $277,567 $175,660 $302,329</div>
<br />
<div align="LEFT">
Year to Date Average, Last Year $257,436 $158,593 $281,964</div>
</span><br /></span><b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></b><br />
<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
MEDIAN PRICE OF PROPERTIES CLOSED:</div>
<br />
<div align="LEFT">
Condos Residential</div>
</span><div align="LEFT">
<br /></div>
</span><div align="LEFT">
<br /></div>
</b><div align="LEFT">
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">This Month $148,950 $262,000</span></span></div>
<span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;">
<br />
<div align="LEFT">
Last Month $154,000 $259,000</div>
<br />
<div align="LEFT">
This Month, Last Year $130,000 $235,000</div>
<br />
<div align="LEFT">
Year to Date Median, This Year $138,900 $250,000</div>
<br />
<div align="LEFT">
Year to Date Median, Last Year $124,000 $229,950</div>
</span><br /></span><b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"></span></span></b><br />
<b><span style="font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: xx-small;"><div align="LEFT">
The above representation may or may not reflect all real estate activity in the market.</div>
</span><br /></span><span style="font-family: Times New Roman; font-size: x-small;"><span style="font-family: Times New Roman; font-size: x-small;"></span></span><br />
<span style="font-family: Times New Roman; font-size: x-small;"><span style="font-family: Times New Roman; font-size: x-small;">© 2012 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed<br />
If you would like to brainstorm about REAL ESTATE or discuss putting your home on the market or buying a home please contact Denise Wambsganss 303-880-8771 <a href="mailto:dwambs@msn.com">dwambs@msn.com</a></span></span></b><span style="font-family: Times New Roman; font-size: x-small;"><span style="font-family: Times New Roman; font-size: x-small;"></span></span>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-5756075736302570732012-08-16T06:48:00.001-07:002012-08-16T06:48:10.665-07:00
<br />
<b style="mso-bidi-font-weight: normal;"><u><span style="color: black; font-family: "Tahoma","sans-serif";">Colorado Third Lowest in Closing Costs !! <o:p></o:p></span></u></b><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;"><span style="mso-spacerun: yes;"> </span>This article is from<strong><span style="font-family: "Tahoma","sans-serif"; font-weight: normal; mso-bidi-font-weight: bold;"> John Rebchook at <a href="mailto:JRCHOOK@gmail.com"><span style="mso-ansi-font-weight: normal;"><strong><span style="color: #000a98;">JRCHOOK@gmail.com</span></strong></span></a>.<o:p></o:p></span></strong></span><br />
<br />
<strong><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt; font-weight: normal; mso-bidi-font-weight: bold;"><span style="mso-spacerun: yes;"> </span>InsideRealEstateNews.com a great website to
follow !<o:p></o:p></span></strong><br />
<br />
<br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">Not
only are mortgage rates as low as they have ever been, but Colorado consumers
have another incentive to buy a home – Colorado can boast having the
third-lowest mortgage closing costs in the nation, according to a national
study released on Monday.<o:p></o:p></span><span id="more-18812"></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">The
report by Bankrate showed that it cost $3,199 to close on a typical mortgage in
Colorado, almost 15 percent lower than the national average of $3,754.<o:p></o:p></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">Seriously,
he said the low closing costs in Colorado is somewhat good news for the housing
market.<o:p></o:p></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">“It
will feed the perception, the correct perception, that demand for housing is
going up and prices are starting to rise slowly,” McMaken said. He said if more
people decided low closings costs are a reason to buy a home now, rather than
wait, it could hurt the owners of high-end apartment buildings.<o:p></o:p></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">“In
the big scheme of things, employment is more important,” than closing costs. In
recent months, Colorado has not enjoyed a lower unemployment rate than the
national average, he said. Eventually, a higher unemployment rate could
discourage people to move to Colorado from other states, he said.<o:p></o:p></span><br />
<br />
<strong><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">Colorado</span></strong><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;"> has seen a dramatic drop in closing costs.<o:p></o:p></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">In
2011, Colorado the average closing cost in Colorado was $3,917, putting it in
23rd place. Closing costs declined 17 percent during the past years, more than
twice the national decline of 7 percent, according to Bankrate.com’s research.<o:p></o:p></span><br />
<br />
<span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">“This
is the second year in which lenders are required to estimate third-party fees
within 10 percent of the final cost,” said Greg McBride, Bankrate’s senior
financial analyst.”It seems like they’re getting more accurate, which helps
explain the sharp decrease in these fees over the past year.<o:p></o:p></span><br />
<br />
<strong><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;">If you have any questions about Real Estate feel free to contact
Denise Wambsganss with Your Castle Real Estate at 303-880-8771 or <a href="mailto:dwambs@msn.com"><span style="color: #000a98;">dwambs@msn.com</span></a><span style="mso-spacerun: yes;">
</span>I love to share information !</span></strong><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 9.5pt;"><o:p></o:p></span><br />
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-16457821904295861262012-06-27T06:40:00.002-07:002012-06-27T06:54:29.766-07:00<br />
<div align="center" class="ecxmsonormal" style="background: white; margin: 0in 8.35pt 8.35pt 0in; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><u><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 16pt; mso-themecolor: text1;">Important
News Release – <o:p></o:p></span></u></b></div>
<br />
<div align="center" class="ecxmsonormal" style="background: white; margin: 0in 8.35pt 8.35pt 0in; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><u><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 16pt; mso-themecolor: text1;">The Denver Post
printed inaccurate information</span></u></b><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 16pt; mso-themecolor: text1;"><o:p></o:p></span></b></div>
<br />
<div align="center" class="ecxmsonormal" style="background: white; margin: 0in 8.35pt 8.35pt 0in; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Tahoma","sans-serif"; font-size: 16pt; mso-themecolor: text1;">– Please read below for
ACCURATE information<o:p></o:p></span></b></div>
<br />
<div align="center" class="ecxmsonormal" style="background: white; margin: 0in 8.35pt 8.35pt 0in; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 16pt;">concerning Colorado Real Estate. -<o:p></o:p></span></b></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 8.35pt 8.35pt 0in;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">Last Wednesday, the Denver Post printed an article called “</span><span style="color: #222222; font-family: "Tahoma","sans-serif";">Colorado Could Be
Facing a New Wave of Foreclosures” suggesting there may be a surge of shadow
inventory coming to our market in the near future. Based upon <b style="mso-bidi-font-weight: normal;"><u>in-depth analysis</u></b>, done by the
company I work for, <u>Your Castle Real Estate</u>, of the hard data we
performed to quantify the so-called shadow inventory and asse</span><span style="color: #7030a0; font-family: "Tahoma","sans-serif";">ss</span><span style="color: #222222; font-family: "Tahoma","sans-serif";"> its potential affect
on our market, we believe their conclusion is both misleading and incorrect and
as such does a disservice to home buyers and sellers in the metro Denver area.
Below is a synopsis of our analysis. </span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">--------------------------------------</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">First,
let’s define Shadow Inventory so we’re all playing on the same field. We define
it as the number of properties that are either REO or 90+ days late on their
mortgage in a given area. </span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">If
the inventory is REO, that troubled property could be:</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;">·<span style="font-size-adjust: none; font-stretch: normal;"></span><span style="color: #2a2a2a; font-size: 7pt;"> <span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Actively on the market, available for purchase today</span></span></span><span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;"><span style="color: #2a2a2a; font-size: 7pt;"> </span> <span style="color: black; font-family: Times New Roman; font-size: small;">
</span></span><br />
<span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;"></span></div>
<span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;"><div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;"> On the market, but under contract </span></div>
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;">Not actively on the market, a part of the shadow inventory that has to be sold e</span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;">ventually</span></div>
</div>
</span><div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;"><span style="color: #2a2a2a; font-size: 7pt;"> </span></span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";"> </span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
</div>
If it is a consumer-owned property, the property could be:<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif";">Actively on the market, available for purchase (as a short sale
or regular sale)<o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif";">Under contract or pending bank approval or short sale terms<o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif";">Not on the market – but likely to get a loan modification<o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif";">Not on the market – but likely to be sold as a regular ale or
short sale soon, in an orderly way<o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font-size-adjust: none; font-stretch: normal; font: 7pt/normal "Times New Roman";">
</span></span></span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif";">Not on the market – the owner is in denial, and the home will
eventually become a foreclosure.<span style="mso-spacerun: yes;"> </span>This is
still part of the Shadow inventory that may hit the market someday.</span><span style="color: #2a2a2a; font-family: Symbol; font-size: 10pt; mso-bidi-font-family: Tahoma;"><span style="color: #2a2a2a; font-size: 7pt;"> </span></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<b style="mso-bidi-font-weight: normal;"><u><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">The metro Denver area
does not have a large Shadow Inventory based on three key data points:</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></u></b></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;">1.<span style="font-size-adjust: none; font-stretch: normal;"></span><span style="color: #2a2a2a; font-size: 7pt;"> </span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;"></span>According to NAR,
Denver has had the highest average home appreciation gain of any of the 30
largest cities in the U.S. in the past 3 years, at $29,900. The average gain
(loss, actually) of the largest 30 cities is -$18,400. Just for kicks, the
worst performing city is Las Vegas, at -$59,900.</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;">2.<span style="font-size-adjust: none; font-stretch: normal;"></span><span style="color: #2a2a2a; font-size: 7pt;"> </span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;"></span>Because Denver’s home
prices didn’t appreciate as much during the bubble and began the correction
before most markets, Denver has already processed the majority of its REO
inventory. According to NAR, metro Denver has only 9,740 homes currently owned
by banks. Only San Antonio and Kansas City have smaller REO inventories. Miami
has the largest REO inventory with 159,000 properties.</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsolistparagraph" style="background: white; margin: 0in 0in 16.2pt; text-indent: -0.25in;">
<span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;">3.<span style="font-size-adjust: none; font-stretch: normal;"></span><span style="color: #2a2a2a; font-size: 7pt;"> </span><span style="color: #2a2a2a; font-family: "Calibri","sans-serif"; font-size: 10pt;"></span>Denver has the second
fewest number of 90+ days late residential mortgages of the top 30 cities in
the country at 29,000, again according to NAR. Chicago has 284,000 and Miami
has 124,000 90+ days late mortgages respectively.</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">Our
contention is that while there certainly is Shadow Inventory in our market,
there is no Shadow Inventory PROBLEM. Why? Because we have relatively very
little Shadow Inventory in our market, and even on the extremely slim chance
that a large portion of that inventory suddenly and magically descended on the
market in a short period of time, we currently have such a low level of
inventory it would actually help our market not hurt it! Five years ago when we
had 27,000 properties on the market a huge influx of inventory would indeed
have been a problem. Today, with an inventory of only 10,000 properties a dump
of 8,000 more properties on the market would only get us back to 2010 inventory
levels. In fact, we need this inventory to sell!</span><span style="color: #2a2a2a; font-family: "Tahoma","sans-serif"; font-size: 10pt;"><o:p></o:p></span></div>
<br />
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<span style="color: #2a2a2a; font-family: "Tahoma","sans-serif";">So
if you just read the Denver Post or the Wall St. Journal and don’t want to buy
now because of the Shadow Inventory menace, I’d like to explain that while this
may be a problem <u>in other parts of the country</u>, it’s <u>not a problem</u>
for us. Our Shadow Inventory problem is pure fiction!</span></div>
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<br /> </div>
<div class="ecxmsonormal" style="background: white; margin: 0in 0in 0pt;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #2a2a2a; font-size: 14pt;">The reason I have chosen to work for
Your Castle Real Estate is because of the massive amount of analysis and trend
information that the owner, Lon Welsh, does for his Real Estate Agents, making
sure we know how to accurately work with our Buyers and sellers !!! There is no
other company in the Metro area that has more accurate information for buyers
and sellers and I think the article from the Denver Post is a great example of
inaccurate information going out to the public.<o:p></o:p></span></b></div>
<br />
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="mso-spacerun: yes;"> </span><span style="color: red;">If you have any
questions concerning Colorado Real Estate please feel free to contact me:<span style="mso-spacerun: yes;"> </span>Denise Wambsganss – Realtor – Your Castle
Real Estate </span></span></b></div>
<div class="MsoNormal" style="margin: 0in 0in 10pt;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14pt; line-height: 115%;"><span style="color: red;">303-880-8771 dwambs@msn.com<o:p></o:p></span></span></b></div>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-73609609367224726442012-06-06T13:59:00.000-07:002012-06-06T13:59:48.175-07:00<strong><u><span style="color: red;">Denver Rated as the
THIRD –BEST Performing City</span></u></strong><br />
<strong><u><span style="color: red;">
for housing of the major metropolitan areas</span></u></strong><br />
by Case-Shiller<br />
<br />
<b></b>
Week on InsideRealEstateNews.com<br />
Case-Shiller Ranks Denver Third
The closely watched Case-Shiller index released today shows that in March the Denver-area housing market was the third-best performing city of the major metropolitan areas it tracks. Denver also boasted its biggest percentage increase in almost two years. Denver showed a 2.6 percent year-over-year gain in March, compared with a 2.6 percent decline for the 20 metropolitan statistical areas tracked in the S&P/Case-Shiller Home Price Indices.
<br />
<br />
Luxury Market Bounces Back in May
The luxury housing market in the Denver area bounced back in May, with 50 sales of $1 million or more, a 31.6 percent jump from May 2011, according to a report by the Kentwood Real Estate Co. The dollar volume last month showed a similar percentage increase, hitting $71.5 million from $54.4 million in May 2011. The most expensive home sold last month fetched $3.6 million, 18 percent higher than the most expensive home in May 2011, which sold for $3.05 million.<br />
<br />
New Home Numbers Low, But Percentage Gains Huge
Home building in the Denver area rose by 43.4 percent in the first four months of the year, compared to the same period in 2011, according to a report released today. An increase in building permits for single-family, detached homes is a trend for more than a year, said Jeff Whiton, President and CEO of the Home Builders Association of Metro Denver, which released the building permit report.<br />
<br />
CHFA Unveils Tax Credit Program
In celebration of National Homeownership Month, CHFA has launched a new program to help Colorado's first-time homebuyers save up to $2,000 annually on their federal income taxes. The program, called CHFA SmartStep, combines CHFA's most affordable 30-year fixed rate mortgage with a Mortgage Credit Certificate and optional down payment assistance.
<br />
<br />
Home Prices Break $300,000
June 4th, 2012
The Denver-area housing market was hot in May. The number of previously owned homes and closings rose by almost 24 percent from May 2011, while the average price of a single-family home closed last month topped $300,000 for the first time since 2007, shows a report released today
It is a GREAT time to buy or Sale a home in Metro Denver. For specific statistics and information about YOUR neighborhood or home give me a call or email me.
<span style="color: red;"><strong>Denise Wambsganss
– Realtor- Your Castle Real Estate
303-880-8771 dwambs@msn.com</strong></span>Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-26921429132502737302012-03-21T08:11:00.001-07:002012-03-21T08:12:18.085-07:00Metro Denver Real Estate Update<b>Buyer’s Market
OR
Seller’s Market
Or BOTH !</b>
Here’s a riddle: how can it be both a buyer’s market and a seller’s market at the same time? It sounds like a paradox but in fact it perfectly describes our current Denver Metro real estate market. Here’s how:
In the market below $300k where 80% of the homes are sold it’s a blistering seller’s market. You heard it right, a seller’s market! There are only three months of inventory sitting on the market right now, where six months is considered a normal, balanced market. There are simply more buyers than sellers right now and this is translating into multiple offers on listings, sales prices often well above asking prices, and marketing times plummeting.
Particularly hot is the market below $225k, which has only two months of inventory. It’s not uncommon for a listing to have 10 showings and a full price offer in the first week. There are a number of factors that have caused this dynamic, one of which is the dramatic reduction in the number of bank-owned and short sale properties on the market. This reduction in distressed inventory has left regular home sellers in a great position and contributed to the sizzling seller's market.
Ok, so we know it’s a seller's market. Then, how can it also be a fantastic buyer’s market at the same time? It is, because according to the National Association of Realtors the Home Affordability Index is at its highest recording ever. Just like it sounds, the HAI is a measure of how affordable homes are in a given area. It’s calculated by comparing the median price of a home in the Metro Denver market to the median worker’s income level, taking into account the current interest rate for a 30-year fixed rate loan. What this means is that the median income earner can buy more house today than ever before. Why? Because home prices, while rising quickly, are still well below their peak prices of 5-6 years ago and interest rates are at never-before-seen historic lows. Take it all together and the average home on the market HAS NEVER BEEN MORE AFFORDABLE.
So, while it seems like a paradox that it can be both a great time to sell and a great time to buy, it’s actually quite true. Call me and I’d be happy to explain more how we got to this state in the market and how you can take advantage of it.
DENISE WAMBSGANSS
– Realtor – Your Castle Real Estate –
303-880-8771 dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-70791945227529817352012-02-15T14:10:00.001-08:002012-02-15T14:10:02.551-08:00<b>Real Estate Market Summary
</b>
The big headline these days in the Denver real estate market is the massive drop in inventory (homes for sale) over the past couple of years. In the past 12 months the price of homes under $85k has risen a massive 19%. Homes between $85k and $135k are up 10%. Homes from $135k - $210k are up 6%. It’s only when you get to prices above $300k that prices are still dropping (down 13% for homes priced above $460k).
The key to buying or selling a property successfully is to understand what the market is telling us. Right now it’s telling us that there are not enough homes on the market in the under $300k segment. Please feel free to call me to discuss this further and see how you can make this market work for you whether you are a buyer or a seller.
In 2009 approximately 43% of homes sold in Colorado were REO’s (Homes that had been through Foreclosure) in 2012 only 7% of the homes on the market are REO’s (Homes that have been through the Foreclosure process). BIG CHANGE.
To summarize
Here’s something many people don’t know – the inventory of homes for sale in the Denver metro market is at a 10 year low! There are not enough homes for sale that are priced below $315,000 for the amount of buyers looking to purchase a home. Most of our clients still think it’s a strong buyer’s market and that they can get a great discount on a property with little effort. But the market has changed radically in the past year and this is no longer true.
This shows that the Metro Denver housing market is VERY ECLECTIC. I would be happy to consult with anyone who is interested in buying or selling a home. My ability of accessing information about individual neighborhoods is a crucial part of what makes me a Real Estate Consultant, not JUST a Real Estate Agent.
Please feel free to Call Denise Wambsganss – Realtor –
Your Castle Real Estate 303-880-8771
or email me at dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-35153169894872557102011-12-30T12:57:00.001-08:002011-12-30T12:57:56.179-08:00Denver Metro RE Market is CHANGING ! <br />Denver Metro Inventory & Price Changes <br /><br />Below is an article giving information<br />about how eclectic the Metro Denver housing market has become. <br />Today, I personally experienced the low end market, between $85,000 to $135,000. I wanted to look at two homes that were on the market ONLY 3 days. BOTH of these homes already had MULTIPLE offers that were ABOVE the listing price. So the figures below are TRUE, and as is stated below, Prices in Denver are going up, and in the lower end homes,<br />it is NO LONGER a Buyers Market in this price range.<br />Here’s something many people don’t know – the inventory of homes for sale in the Denver metro market is at a 10 year low! Most of our clients still think it’s a strong buyer’s market and that they can get a great discount on a property with little effort. But the market has changed radically in the past year and this is no longer true. We have 5.5 months of inventory, overall, but the amount of inventory is highly dependent on the price of the home. For example, there is currently only 4 months of inventory of homes under $85k. Stepping up to the $85k - $135k price range there’s even less inventory – 3.6 months! Even in the $210k - $315k price band there is only 4.9 months of inventory, still a buyer’s market ? Not hardley<br />Supply and demand being what they are, the one year change in home prices correlates perfectly with the supply of homes. At the low end, prices have surged up 19% in the past 12 months! The shortage of inventory has, and likely will continue to drive up prices of entry level homes. On the other hand, in the $460+ market where there is still 10.9 months of inventory, prices have fallen 13%. High end homes, suffering with too much inventory, continue to see price declines.<br />I also want to share more personal experience. My husband and I purchased a home in the Berkeley Subdivision. We purchased it for $143,000, gutted it down to the studs ! Cost of renovation was around $53,000. It recently appraised at $245,000. Yes…. I said $245,000, that is a $49,000 profit !! So, there are still great deals out there, BUT it takes a lot of time and effort to find them. These kind of deals are no longer a dime a dozen, and very unlikely you will find them on your own.<br />This shows that the Metro Denver housing market is VERY ECLECTIC. I would be happy to consult with anyone who is interested in buying or selling a home. My ability of accessing information about individual neighborhoods is a crucial part of what makes me a Real Estate Consultant, not JUST a Real Estate Agent. Please feel free to Denise Wambsganss – Realtor – Your Castle Real Estate 303-880-8771 or email me at dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-90019606300230570192011-12-30T12:29:00.000-08:002011-12-30T12:33:02.093-08:00Denver Metro RE Market is CHANGING !<strong>Denver Metro Inventory & Price Changes </strong><br /><br />Below is an article giving information<br /> about how eclectic the Metro Denver housing market has become. <br />Today, I personally experienced the low end market, between $85,000 to $135,000. I wanted to look at two homes that were on the market ONLY 3 days. BOTH of these homes already had MULTIPLE offers that were ABOVE the listing price. So the figures below are TRUE, and as is stated below, Prices in Denver are going up, and in the lower end homes,<br /> it is NO LONGER a Buyers Market in this price range.<br />Here’s something many people don’t know – the inventory of homes for sale in the Denver metro market is at a 10 year low! Most of our clients still think it’s a strong buyer’s market and that they can get a great discount on a property with little effort. But the market has changed radically in the past year and this is no longer true. We have 5.5 months of inventory, overall, but the amount of inventory is highly dependent on the price of the home. For example, there is currently only 4 months of inventory of homes under $85k. Stepping up to the $85k - $135k price range there’s even less inventory – 3.6 months! Even in the $210k - $315k price band there is only 4.9 months of inventory, still a buyer’s market ? Not hardley<br />Supply and demand being what they are, the one year change in home prices correlates perfectly with the supply of homes. At the low end, prices have surged up 19% in the past 12 months! The shortage of inventory has, and likely will continue to drive up prices of entry level homes. On the other hand, in the $460+ market where there is still 10.9 months of inventory, prices have fallen 13%. High end homes, suffering with too much inventory, continue to see price declines.<br />I also want to share more personal experience. My husband and I purchased a home in the Berkeley Subdivision. We purchased it for $143,000, gutted it down to the studs ! Cost of renovation was around $53,000. It recently appraised at $245,000. Yes…. I said $245,000, that is a $49,000 profit !! So, there are still great deals out there, BUT it takes a lot of time and effort to find them. These kind of deals are no longer a dime a dozen, and very unlikely you will find them on your own.<br />This shows that the Metro Denver housing market is VERY ECLECTIC. I would be happy to consult with anyone who is interested in buying or selling a home. My ability of accessing information about individual neighborhoods is a crucial part of what makes me a Real Estate Consultant, not JUST a Real Estate Agent. Please feel free to Denise Wambsganss – Realtor – Your Castle Real Estate 303-880-8771 or email me at dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-17154629087072763002011-09-28T16:25:00.001-07:002011-09-28T16:25:30.997-07:00<b>Hello Everyone: This article is a little long, BUT I have had several people asking me about Real Estate Statistics and if it is a good time to buy or sale. I hope the information below answers most of your questions. Feel free to call and brainstorm with me anytime. Overall the market is starting to turn !</b>
August Denver Metro
Single Family Housing Stats :
Active Listings: 13,436
Down 25% from August 2010
Under Contracts: 2,552
Up 11% from August 2010
(more houses are selling because there are fewer on the market) Supply and demand rule
Solds: 3,177
Up 28% from August 2010
(more houses are selling because there are fewer on the market) Supply and demand rule
Average Days on Market: 96
Up 2% from August 2010
Average Price: $284,065
Down 4% from August 2010
August Denver Metro Condo
Housing Stats :
Active Listings: 3,195
Down 40% from August 2010
Under Contracts: 985
Up 27% from August 2010
(more condos are selling because there are fewer on the market) supply and demand rule
Solds: 796
Up 32% from August 2010
(more condos are selling because there are fewer on the market) Supply and demand rule
Average Days on Market: 111
Up 11% from August 2010
Average Price: $168,500
Down 5% from August 2010
Real Estate News
On September 12th the Denver Post ran a front page article with the headline “Denver Housing Market Tightens.” I was thrilled to see that for once the Denver Post got it right! The mass media has often been accused, and rightly so, of perpetuating the doom and gloom in the housing market. Something I have been seeing for a little while now is the housing market in Denver is actually very tight, and quality homes are selling at a premium. To quote the article:
For six months, Casey Schorr has struggled to find a home to buy in Denver, contradicting everything he has heard about it being a buyer's market. "Everybody seems to be saying there are all these properties," Schorr said. "But if you are looking for something updated and in a decent neighborhood, the stuff that is available is going quickly." A lack of inventory — or, more precisely, "compelling" inventory, as some agents call it — has complicated homebuying for people such as Schorr and added yet another strain on a long-stressed housing market. The number of homes listed for sale in Denver is down by about half since the frenzy surrounding the April 2010 deadline for a homebuyer tax credit. The inventory of homes available for sale in metro Denver in August was down 23 percent from August 2010, and down 5 percent from July. There were 18,164 homes and condos listed for sale in metro Denver, compared with 23,615 in August 2010. Many sellers are on strike, in that they don't have to sell and won't until prices improve. Other sellers might prefer to sell but owe more than their homes are worth and can't afford to bring money to the closing table.
This is exactly the dynamic that I see playing out every day in the housing market. About ½ the homes listed for sale are distressed – either bank-owned properties or shortsales. These properties tend to be in poor shape physically, and also problematic to purchase since getting a contract accepted on a shortsale takes months. So buyers that are looking to move into a move-in ready property – and can’t wait 6-9 months for a shortsale to be accepted – are finding there is very little inventory available to them. Consequently, quality, non-distressed properties are selling quickly and close to full price. These are unique times in the housing market so feel free to contact me anytime so I can sit down with you and show you how today’s interesting market is affecting both buyers and sellers. I am finding that this is a great time to buy a home, interest rates are lower than they have ever been in History !! It is also a reasonable time to sale because the market is tightening ! Denise Wambsganss Realtor – Your Castle Real Estate 303-880-8771 dwambs@msn.com
Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-34555459162825111642011-08-30T07:29:00.000-07:002011-08-30T07:35:02.900-07:00Denver Housing Prices August 2011"Denver housing prices increased at a steady and sustainable rate of half of 1 percent per month throughout the 1990s into the 2000s. No major price corrections were required here as opposed to other areas of the country that saw 3 percent per month housing price increases," said Patrick Armbrust, owner of Armbrust Real Estate Institute. Armbrust is also a real estate broker and appraiser.
<br />
<br />The Denver metro area's median sales price was $216,000 in May, a 2.9 percent year-over-year rise. Homes were on the market an average 109 days before selling during that month.
<br />
<br />"We are seeing modest but consistent price increases. We see a great deal of activity in the lower price points, (at or below) $250,000," Armbrust said.
<br />
<br />"(That) market is generally a seller's market whereby multiple offers are seen. If a property is priced to comparables and shows well, marketing times are abbreviated and multiple offers are common. Inventory of these homes is low and buyers have to get aggressive with offers."
<br />
<br />While the Denver area's foreclosure rate is lower than the national average -- 1 in 156 homes received a foreclosure filing in the second quarter -- distressed properties are a major force in the market.
<br />
<br />Lon Welsh, Roberts' business partner at Your Castle Real Estate, estimates 35 to 45 percent of the area's sales in the last three years have been short sales or bank-owned (REO) properties.
<br />
<br />"For the past couple of years the REO volume has been declining while short-sale volume has been increasing. Neighborhoods under $250,000 have a much higher percentage of (distressed) sales than more upscale areas of town. This tends to mirror the rest of the U.S. market," Welsh said.
<br />
<br />Investor buyers are particularly interested in the distressed market. Of the 29 deals Roberts has participated in so far this year, all have been distressed, he said.
<br />
<br />"Most of my clients are taking advantage of the unique combination of record-low vacancies, surging rents, record-low interest rates, and static prices to buy and hold rental properties for the long term. This is a segment of the market that is on fire right now," he said.
<br />
<br />The Denver metro area had an 8.7 percent unemployment rate in June. "We have a huge solar business community here (we have 300 days of sun a year -- the snow you see on weather reports is usually in the mountains), and it drives job growth for the future," Altieri said.
<br />
<br />"It's less expensive to have a business here than California, so many 'Cali' companies have moved here. We also have the second largest federal worker population in the U.S."
<br />
<br />The area's population grew 16.5 percent from 2000-10, to 2.5 million, and is projected to grow 21.1 percent by 2020.
<br />
<br />"The mountains tend to attract an educated, athletic population from all over America, so our population growth has been strong during this downturn," Roberts said.
<br />
<br />Article came from Inman News August 2011
<br />If you want to brainstorm about the Metro Denver, Colorado Real Estate Market give me a call. Denise Wambsganss works for Your Castle Real Estate. We have the best statistics and overall info on the Metro Denver Market you can find. I can customize info for you if you wish. 303-880-8771 dwambs@msn.com
<br />Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-26693627591651605462011-06-13T14:59:00.000-07:002011-06-13T15:02:13.518-07:00Metro Denver Colorado overview of Proper Sales<strong>What types of properties are selling fastest/slowest in the Metro Denver market area, and why?</strong> <br /><br />Overall, the Denver market is relatively healthy. Our average months of inventory (MOI) is 5.3, below the 6 month level of inventory that is traditionally considered a balanced market – giving a slight advantage to buyers. What’s very interesting is how completely balanced and uniform the market is under $300k. For example, MOI for homes under $85k is 4.6. MOI for homes from $85 - $135k is 4.3. MOI for homes from $135 - $210k is 4.5. MOI for homes from $210 - $315k is 5.1. These numbers suggest a very even, unexciting, normal market! Homes from $315 - $460 have a slightly higher MOI at 6.1 (almost perfectly balanced). Only when you isolate properties above $460k do you see a definite buyer’s market in place with 9.1 MOI. In the luxury market, the higher the home price the higher the MOI. <br /><br />What this means is that there is no relatively fast-selling segment of the market. However, on the buy side there is a niche that is very active. The longterm, buy and hold investors who are picking up properties under $150k are buying up everything they can, helping to support this segment of our market. These investors are taking advantage of a unique combination of circumstances including: record high home affordability, record low interest rates, reasonable lending guidelines, record low vacancy (1.4%!), and consequently rising rental rates. Never before have we seen a more favorable combination of factors that better support a longterm investor’s goals.Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com1tag:blogger.com,1999:blog-8987839347970453951.post-77075073823276299362011-05-10T09:44:00.000-07:002011-05-10T09:52:02.079-07:00Overall Comparison 2009 to 2010 Rea Estate StatisticsPrices went up 7% from 2009 to 2010. Larger homes had somewhat larger gains, which is a reversal of the trend; the smallest homes had slightly smaller price increases. An increase in distressed sales at the high end will continue to pressure prices. In late 2010 the share of small home sales declined, while larger homes took market share... propping up the average price. Prices in April/May 2011 will likely be close to 2010 results; June 2011 average price will be down 5% to 10% from June 2010.<br /><br />Showings fell drastically after the expiration of the tax credit on 4/30/2010. Centralized showings reported a 42% drop in showings across all 25 states on 5/1/2010. January 2011 showings were strong. However March 2011 was even better. So we are starting to turn. <br />Number of homes sold in Denver Metro, has declined since 2005. 2009 had a -16% decline in volume relative to 2008. Volume in 2010 declined a further 10%. Not the impact of the tax credit on the timing of sales in 2010, had a unique effect. 1st Quarter of 2011 volume was down 8% compared to 1st quarter of 2010. <br />Denise Wambsganss Realtor - Your Castle Real Estate I love to Brainstorm about Real Estate, if you want specific information about your particular neighborhood in the Metro Denver area please give me a call 303-880-8771 dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com1tag:blogger.com,1999:blog-8987839347970453951.post-45231156524812315662011-04-25T07:53:00.001-07:002011-04-25T07:55:33.221-07:00It's an INCREDIBLE time to own a Rental Property In Metro DenverIt is an incredible time to own a rental property in Metro Denver area. I read an article from The Colorado Division of Housing and Genesis Exteriors Inc. that covered an incredible amount of data concerning why it is such a great time to own a rental property in Metro Denver. Below is a very small part of what I read.<br />The overall vacancy rate for the metro area for the first quarter of 2011 was 1.4 percent, down from 2.0 percent for the fourth quarter of 2010. It was 3.1 percent in the first quarter of 2010, 3.6 percent for the first quarter of 2009, 2.7 percent for the first quarter of 2008, 4.2 for the first quarter of 2007, 4.9 for the first quarter of 2006, and 7.3 percent for the first quarter of 2005.<br />This information was referring to housing units with one to four units including single-family, condominium, townhome, duplex, triplex and fourplex units.<br />If you want to Brainstorm about anything referring to Real Estate feel free to call me Denise Wambsganss – Realtor Your Castle Real Estate 303-880-8771 dwambs@msn.comWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-73544930518857927602011-03-18T10:54:00.000-07:002011-03-18T10:56:53.551-07:00Lower Your Real Estate Property Taxes on Your Home<span style="font-weight:bold;">Lower your Real Estate Property Taxes on your HOME</span><br /><br />Read the article to see how<br /><br />Every year one of the major questions I receive “this time of year” is “What do I do if I think my house has been assessed incorrectly concerning my taxes. So I know there are many of you out there that have the same question. Below is information that might help. Feel free to call me or email me if you have additional questions. I am NOT an expert in this area, so take this information as a “general” bit of information to direct you to those who can give you the specifics for your county or home. Denise Wambsganss Realtor – Your Castle Real Estate 303-880-8771 dwambs@msn.com<br />My Blog for basic RE Information is: dwambsganss.blogspot.com My Husband and I have been successful over the years at getting our Property Taxes lowered… Possibly So, can you !<br /><br />ValueAppeal says about 25% of homes are over-assessed<br />BY ANDREA V. BRAMBILA, MONDAY, MARCH 14, 2011.<br />Inman News™<br /><br /><br />In the Count of Denver 123,953 properties were assessed and 54,051 were over assessed. These properties were over assessed 43.6%. That is A LOT !<br />About a quarter of the nation's homeowners pay more than their fair share of property taxes every year, by the estimates of ValueAppeal, <br /><br />A person needs to analyze whether a particular home is over-assessed compared to nearby, similar properties. You will need to take into account several factors, including a home's number of bedrooms and bathrooms, construction quality, age, condition, square footage, grade, and whether it has amenities like a golf course or an exceptional view.<br />Notices of Valuation are mailed to owners of property on or before May 1 of each year, if there has been an increase in valuation over the previously year. If you are not satisfied with the valuation you may protest the valuation in person or by mail. If you choose to mail a written protest, your mailed protest must be postmarked no later than June 1st. If you choose to present oral or written objections to the Assessor in person, you must appear in the County Assessor's Office on or before June 1.<br /><br /><br />Are there any specific property tax credits or deferrals that I can receive?<br />Yes. Depending on the specific circumstances, you may qualify for certain property tax credits and/or deferrals. Details pertaining to this information are described in a brochure entitled "Credits & Deferrals for the Elderly & Disabled." The brochure may be obtained from your local County Assessor or on the Division of Local Government website at http://www.dola.state.co.us.<br /><br />For additional information concerning Adams County Assesors , there is a help file that can guide you or you can contact the Assessor's Office GIS staff at 720.523.6038 <br />Property-tax assessments are created by running an automated valuation model over homes in the county, said Charlie Walsh, ValueAppeal's founder and CEO.<br />"That model will spit out values for all those homes. Anytime you do a model like that ... on one end you will have 25 percent over-assessed, and on the other 25 percent under-assessed, and 50 percent are about right. And that's what we've found," Walsh said.<br />Homeowners who believe their county has over-assessed their home can appeal the decision themselves for example, homeowners can submit evidence from comparable sales of similar properties to their county assessor's office. If the homeowner and the assessor cannot agree, the homeowner can file an appeal form with their local appeals board and submit similar evidence at a hearing. <br /><br />Foreclosures are generally not considered comparable homes when filing an appeal "because those are not considered arms-length transactions," Walsh said. "That's one of the things that those who try to do this on their own get tripped up by."<br />"We haven't found a pattern with foreclosures and distressed properties. In reality, that actually has nothing to do with it. Whether the housing market went up or down has nothing to do with whether a house is over-assessed. It depends on how your assessor responds and that varies from county to county," Walsh said.<br />"I have yet to meet a real estate agent who has recommended (a seller) use the county's assessed value as a data point. They know it's out of date or just out of touch with reality," Walsh said.<br />However, "if I'm trying to buy a house and I see that the property taxes are very high, then that's a negative for me. A lot of people pay their property taxes into escrow every month and the lower they are, the bigger mortgage they can afford," he said.Wambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0tag:blogger.com,1999:blog-8987839347970453951.post-37452477043190874672011-02-24T12:46:00.000-08:002011-02-24T12:47:27.608-08:00Facing Foreclosure ?Help for Homeowners Facing Foreclosure<br /><br />Fannie Mae announced this week a new interactive video tool for homeowners facing foreclosure. It’s called WaysHome. To learn more about this tool please click on this story below—<br /><br />http://www.prnewswire.com/news-releases/fannie-mae-launches-wayshome-interactive-video-tool-to-help-struggling-homeowners-112986204.htmlWambsgansshttp://www.blogger.com/profile/09119044009787993277noreply@blogger.com0