Denver Home Sales, Denver Realtor Explains

The Denver real estate experts have been stating that sales are down and the bottom is still ahead of us. I guess they are correct IF they use the anomalous year of 2010, but if I were drawing the trend lines you would see that 2010 should have been the bottom of the market and a ski jump at the far right side of the above chart. Why was 2010 anomalous? The first time buyer incentive skewed the entire year of Denver's real estate sales into the first half of the year. That means more sales occurred in the early part of the year and the latter part of the year was very sparse. The ski jump trend of increased sales seems to have started in December of 2010.

The other bit that I find interesting is the number of "new" single family listings entering the market continues to shrivel. Back in 2006, 2007, and 2008 it was pretty steady, but then in 2009 and 2011 (2010 was an anomaly) it has really dropped with the fear of the economy. However with this uptick in closed sales, that may be changing in front of your very eyes. Want to know more about Pete Doty? Go to http://www.denverrelocation.com/  or listen to my podcast -Denver Realtor.

Living in Highlands Ranch the values have been fairly steady mostly due to the demographic nature of the total community. Lone Tree, Cherry Hills Village and Greenwood Village are similar. Other communities in town have suffered more due to the nature of the households, dual income, lower income, hourly workers, where a layoff or reduction in time on the job stressed the household income. Or it could have been "elective housing" with lots of toys that required debt service, or resort properties, which have really taken a beating in this past two years.

So the answer is, it is past time to make that move. Multiple offers due to lack of inventory are starting to raise their heads. The foreclosures are being "gobbled up" in any condition, and short sales are doing what they always have...create a huge amount of frustration for the Buyer, the Seller and both agents. They will become much more scarce in the coming months as folks start to see the light at the end of the tunnel.

A Full Time Licensed real estate broker since 1985 I go to work everyday for you & your friends, learning about our home town! It could be Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. Talk to me for real estate advice, properties for sale, multiple listing service, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Denver housing statistics...what to look at

I have been tracking the multiple listing service data here in Denver for about 11 years.


It seems to me there are 2 key indicators that indicate the health of the Denver real estate market.

(See a month to month comparison here). See the annual trends here and the way NEW Listings have declined here

ONE: The number of sales each month compared to the same month the year before: an increase is good a decrease is bad.

TWO: The number of new listings coming on the market each month: Fewer means fewer folks "testing" the market and a lower supply: GOOD. More means more folks "hoping" to get their price: BAD. I guess the optimism factor has to be looked at too, however that could mess up my neat little way of looking at things.

What I do know is that for the first time in a long time, as a Buyer's Agent the buyers I am representing are in a situation where they could be, and were facing competing offers. Good for the Seller, not so for the Buyer. This happened in the City of Denver and in Highlands Ranch. Simply, I have to know the feel of the market. You do not want to be surprised by loosing a home due to another offer, nor do you want them to over pay for that same home. In the late 1990's we used to say "The best deal we can get for you is to get you there first". That time could be very close.

Here is the unabashed sales pitch...you need an experienced Realtor to represent your interests when you buy a home in metro Denver Colorado, or anywhere else.
A Full Time Licensed real estate broker since 1985 I go to work everyday for you & your friends, learning about our home town! It could be Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. Talk to me for real estate advice, properties for sale, multiple listing service, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Denver SHOWING ALERT! 15 minute sprint to show

These showing tips for the DENVER HOME SELLER are from an awesome stager, Pam McCormick at Colorado Stage to Sell 303-788-0264

This just adds to my tips for getting ready to show your home in 15 minutes...take a look at http://www.denverrelocation.com/ShowingYourDenverHomein15MinutesDenverRealEstate.html

For the Denver homeowner, selling a home is a stressful time. It requires them to keep their house looking great at the drop of a hat. After they have had their home professionally staged, here are some suggestions you can give the seller to ensure the house is always ready for a showing.

-Have them purchase a large canvas laundry bag. (I have put my own together that I give to agents, called my "Show and Sell Bag") and in it put premoistened glass-cleaner wipes, furniture wipes, lint roller, air neutralizing spray and trash bags. Then when they get that last minute call for a showing, they grab their bag and go room to room picking up any items that keeps the house from being show ready (excess mail, toys, magazines, dirty laundry etc.) and put it into the bag. Then while in each room they wipe off the glass surfaces and furniture, use the air spray to freshen up the room, empty the trash and if no time to vacuum, use the lint roller to pick up any pet hair etc. They can then take the bag with them when they leave and then when they get home they can put all the items back in their proper place.

-Toss wet morning towels in the washer before heading off for the day.

-Roll all bathroom or kitchen rugs and tuck them under the sink in the vanity or cupboard.

-If they have pets they will need to make a plan ahead of time to take their pets somewhere when there is a showing. Pets should not be around during a showing. Put all pet dishes, beds and toys into a large trash bag and store out of sight.

-Always try to have a bowl of fresh fruit or fresh flowers available to place on the kitchen table. Make it a standard purchase at the grocery store each week.

Make sure to check out Pete's website at http://www.denverrelocation.com/

Pete Doty has been a full time licensed Denver Realtor since 1985. "I go to work everyday for you and your friends, learning about our home town! There are always discoveries!" It could be Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. Talk to me for real estate advice, properties for sale, multiple listing service, all available at http://www.denverrelocation.com/. Drop me a note to pete@Denverrelocation.com