Saturday, May 03, 2008

78% of Cities INCREASE in VALUE per National Association of Realtors

Market Anomalies SKEW Home Price NATION-WIDE! Denver is still in the TOP FIVE! Denver Colorado not a "BUYER's MARKET" NO 6 month supply of properties. Brittany asks "Does this make any sense?"

That is pretty much the gist of the story at Market Watch. Taking the 2 major indexes to task that have created the gloom and doom reports of the housing market. Market Watch has interviewed the perpetrators and read their own reports BEFORE writing the headlines. Both the National Association of Realtors and Standard & Poors/Case-Shiller Home Price Index agreed their reports were giving imprecise data and impression to the public. And specifically noted is The Associated Press's mis-application of the reported data.

In my opinion the press never read the reports, just the executive summary or headlines, then write their own SENSATIONAL HEADLINE and publishes their story. But the underlying story is never published. So here is the story I am referencing

The real point is that real estate is local, and I do not mean Denver local. I mean LOCAL LOCAL down to the neighborhood in Highlands Ranch or Littleton. And in some cases down to the address of xyz Weatherstone Circle, Highlands Ranch, Co 80126 do to the orientation or street noise. When you hire a Realtor to represent you you get the benefit of their experience selling in all Denver neighborhoods, their stories, their good deals and bad deals, their price reductions and their multiple offer stories, the good inspections and bad. The experience factor cannot be ignored in today's Denver Real Estate market. And allot of that is the pricing approach you should take and then the marketing to get your home sold.

For years there has been a neighborhood in the southeast metro Denver area that it turns out was over-priced in Englewood Colorado, actually part of un-incorporated Arapahoe County. There were bad loans given by the developer and inflated home prices to go with them. Finally, the prices in that neighborhood have gotten to a point that I can recommend it as a "deal" for a buyer. Now, if I were the press, there are at least 3 stories in this comment; one about a bad developer for the "investigative reporters" and one about plummeting prices and the third about rebounding market conditions!

Well, a month ago I told you about a hard bounce in the inventory. Stay tuned and we will see what happens in the Denver real estate market in about 2 weeks...oh by the way, I always try to pull my data on the same day every month. That way I can be consistent and no there are fewer anomalies. So when I publish a chart with 6 years of NEW LISTING HISTORY such as I did here the ups and downs would not be because the reporting date shifted closer to the first of the month. Figures don't lie but liars figure? That is a way the statistics can be manipulated.

Insight and experience help guide you through the sale of your home, or the purchase of a new one, or both! Yes we can do that! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood Colorado, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado, we offer real estate advice, properties for sale, multiple listing service, property listings, mls, all available at Drop me a note to

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