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

Help Pete Feed The Hungry, One House at a time!

A food bank can stretch a dollar a lot farther than we can.
So join me. Make a pledge for every home I close this year.
You do not have to match me dollar for dollar...pledge $1, $5 or $10 or????.
Every time I make a $100 donation Inter-Faith will contact you and let you know.
Then it is up to you.
I just want to help feed the hungry, and I would love your help.
Sign up today at www.DenverRelocation.com/JoinPete.html

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 HOME PRICES RISE!

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Price rise across Denver for the 4th month
For 4 months now the Denver single family home average price has risen in February almost 14% from a year ago! Condominiums gained an average of 20% in value. Charts and graphs tell the story...so here they are. Draw your own conclusions but remember the ever present words: "supply & demand".

Free Food and Expand YOUR Business
March 24 2010 at Marie Callender's Restaraunt in Littleton
You are INVITED MIXER March 24th
We would love to have you join us at our Leads Club Mixer Wednesday, 5-7 at Marie Callenders at Broadway & Dry Creek. Lisa Benson, President of Leads Club from Carlsbad will be our special guest. Free Food and a Cash Bar, plus you get to network and meet a group that has over 16 years experience at this kind of networking. Take a look at:
http://www.youtube.com/watch?v=5Y0D2oMN3QQ

Don't Hunker Down! Join US!

Pete Doty is A Full Time Licensed Colorado 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

Reason 14 to Move at YEAR End

From my friend and fellow Cyberstar Michael Maher in Kansas City:

It's easier on the kids! As a former teacher, I
can tell you the very best time to transition your child into a new
school is during the school year and precisely during the Holidays.
There is instantaneous submersion into a strong social support group.
The child is instantly installed into a caring environment - whereas
during the summer he or she has a smaller cast of characters to choose
from. The teacher will ease the transition and it is a great time for
the child to be the "new kid". To help that along, the parents should
sponsor a pizza party the first week of the child being in class.
Doesn't hurt to bribe for friends with pizza.

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

13 Reasons to List During the Holidays in November and December

1. There is less competition for buyers.
2. Winter prospects are more serious buyers.
3. Your home looks better during the holidays.
4. One of the highest percentages if “the listing sold” to “listing taken” occurs during this time of year.
5. Expanded Home Buyer Tax Credit, for First-Time Home Buyers and Existing Home Buyers (specified criteria applies as defined by law).
6. You may receive more money for your home now because you have less competition.
7. Throughout the holiday season, you may restrict showings during your personal family events.
8. Buyers have more time to look at homes during the holidays, especially during vacations.
9. January is traditionally the biggest transfer month and you must be on the market to capture that market.
10. By selling now you can have a delayed closing or extended occupancy until the beginning of the following year if you want it.
11. When you sell during the winter you have an opportunity to buy during the spring, when many homes are on the market.
12. You may have fewer actual showings, but more qualified and motivated prospects.
13. Corporate transfers, who need to buy a home now, can’t wait until spring.

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

Great News! Sales highest since 2001 in September

You can see the trend. If you are thinking it might be time to take advantage of the Denver Real estate market, it might be time.

I have watched and worked in the local Denver Colorado real estate market 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

My Favorite Things. Yours?

What are your favorite things about living in Colorado?
Mine starts with the dry air and fresh breezes.
Then to the mountains majesty. And the canyons & gorges.
Sunrises & Sunsets.
The narrow gauge trains that are here and still running in the mountains.
The skiing and horse back riding got me here.
The people kept me here.
How about you?
What do you LOVE about living in Colorado?


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

Can't you find a REAL job in Denver?

Those words still ring in my ears from 24 years ago when I told my mother I was going to sell real estate. So what got you there and what has kept you there some folks ask. Well, long stories longer, here goes…

In 1984 I was a successful young Landman in the oil and gas business with the company car, the expense account, and all the benefits except one; a contract. Do not get me wrong. I had a great boss who was fair and kind, but who had said to me when he hired me in 1982 that “when the money runs out, the job runs out”. “Fair enough” I had responded. My work should cause the money to keep flowing! And I worked!

Well, sometime in the late summer of 1984 the price of crude oil fell to an especially low point. It was sometime in September or October, Vince poked his head in my office door and reminded me of our conversation and added “well the money has run out!” effective November 30th. Being the young confident guy I was, I decided I could do the oil business better and stepped out and sold some prospects to other companies that they drilled, all dry holes though. And there was that last prospect that just about broke us as it was bought by a guy who went bankrupt. Never a word! But just in case as a contract landman I had gotten my Real Estate license so I could collect in court.

And that young confident nature caused me to never file for un-employment either. My wife did daycare in the home, I plowed snow and did day work in the old office. I sold a couple of homes for my partner too as I had a brokers license. I even tried to manufacture and sell the next pet rock called a "What Knot". I was trying to do too many things and not doing any well! It was an unsettled time!

So I am “working at home” one day in Englewood Colorado in late 1985 or early 1986 and there is a knock on the door. I open it to find a foreclosure notice! Well, as you can imagine, my wife and I had some agitated words that night but we succeeded in formulating a plan: We could either sell the house and buy another smaller one and stay in Denver; we could take a job in Midland (and get laid off again there); or I could sell real estate. We needed some money to get out of hole we were in and so I called the first national bank of MOM the next day. We explained our alternative plans and she politely agreed the first 2 were not good at all but when I came to #3 I heard the words: CAN’T YOU FIND A REAL JOB?" There were no jobs in Denver at that time as we had just had about 40,000 folks lose jobs in the past 2 years in the oil business alone. It was a very depressed market and we had 16% home interest rates too!

That is what started my real estate career(there will be more to come). However,
I have been A Full Time Licensed real estate broker since then and I love helping nice folks buy and sell homes. 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

Do you REALLY understand the tax credit?

We've had many clients asking great questions about the first time buyer tax credit, how it applies to the Denver Real Estate market...and I wanted to be sure you had the answers.

Some basics for you:

Q: If I’ve owned a home before, does that mean I’m not a first-time home buyer?

As long as it has been three years since you’ve owned a home, you are considered a first-time home buyer; even if you own a rental but it is not your residence and you have not lived in it for the last 3 years!

Q: Do I really get up to $8,000, or is it just a tax deduction?

It’s really up to $8,000-in your pocket! You get the money when you file your tax return. (Some restrictions apply...call Lori at 720-200-6868 today for more details).

Q: I’ve been thinking about buying, how much time do I have?

The program ends November 30. Now is the time to buy!
You do not want to be caught in the last minute rush in today's lending climate.
Only 110 days left to get your qualifying transaction CLOSED!

Feel free to pass this information on to your friends and family...while there is still time to take advantage of this great opportunity. As always, we're here to help - so please call me with any questions you have.

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

Time to Buy a First Home in Denver

But there are only 123 days left to get the first time buyer tax credit. OR only 2960 hours.
A quick review says the FIRST TIME BUYER gets an $8,000 tax credit if they close BEFORE November 30, 2009. The program expires at midnight on that day.

You can even ammend you 2008 tax return to get the credit THIS YEAR! And here is a great idea! You can borrow the $8000 from Mom or Dad, Grandma or Grandpa and pay them back when Uncle Sam sends you your check!

I am a Full Time Licensed real estate broker since 1985 and 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

139 days left

to take advantage of the tax credit for first time buyers.
In Denver it is taking 45 days or more to close a loan.
Start your search for a Denver Home soon.
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

Tax Credit For Downpayment?

We have heard about this (see May 14 post) coming but there are no specifics yet. FHA/HUD has to agree that certain lenders can loan you the money you would get as tax credit/refund. They need to work out those very tough details. And the current state of affairs with lenders due to their "new rules" about market value and underwriting have created enormous work flow issues.
A client recently figured out he could do it faster and cheaper if his grandma would loan him the $8000 (FHA is OK with that) and immediately after closing amend last year's tax return and get the credit refunded, they say within 12-16 weeks. So in 4 months he can pay back grandma. If you would like to talk further about this, let me know.
Also news: If a buyer has owned a "NON-PRINCIPLE RESIDENCE" like a rental property, but has not lived in it as a principle residence for the last 3 years, they may qualify for the TAX CREDIT as well. I just got this from a loan officer who is working with some clients in this situation and she tells me it is CPA approved. Check with your CPA.



Since 1985 I have been going to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Denver #1 City poised to recover

I do not often care for Barbara Corcoran, except when she is right.
Today featured her again this week on MSNBC.
As I understand it she has used some of NAR's info from the mid year meetings to help get to these conclusions, at least Denver is Lawrence Yun's favorite too. San Francisco, Raliegh, Austin & Seattle are also favorites.
Here is a recap from the biz journals:
http://www.bizjournals.com/denver/stories/2009/05/18/daily31.html
And here is a link to the show:
http://www.msnbc.msn.com/id/21134540/vp/30825142#30825142
and here are some highlights from Yun's presentation
http://link.brightcove.com/services/player/bcpid22268533001?bctid=23220214001
And here are the slides from his presentation:
http://www.realtor.org/wps/wcm/connect/e74213804e19cdb2b996ffec21680fb0/mym_residential09.ppt?MOD=AJPERES&CACHEID=e74213804e19cdb2b996ffec21680fb0


Let my 24 years of experience can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Denver Real Estate Market is SHRINKING! Fewer Deals!

Over the last 6 months I have been surprised that the market has been much more competitive than in the past 2 years, especially when representing BUYERS in the purchase of their new home. Most Buyers have been required to make offers on more than one home as you will see below. I researched data from each of the south geographic areas of town as defined by the local Denver Multiple Listing Service, Metrolist:

100k-250k Area active/u/c = month's supply (previous month)
(AUS) Aurora South 508/415 1.2 (1.4)
(DNW)Denver Northwest* 125/93=1.3 (2.5);
(DSE)Denver Southeast 257/128=2.0(2.2)
(DSW)Denver Southwest 446/309=1.4(1.85)
(DEP)Douglas County Parker Elbert County 143/94=1.5(1.7)
(DCW)Douglas County Castle Rock West 201/96 =2.1(2.8)
(DHL)Douglas County Highlands Ranch Lone Tree 58/55=1.1(1.2)
(JFS)Jefferson County South 143/108=1.3(1.2)
(SSC)South Suburban Central 171/140=1.2(2.0)
(SSE)South Suburban East 34/24=1.4(3.3)

250.1k -350k active/u/c = month's supply (previous month)
Aurora South 180/72=2.5(4.3)
Denver Northwest* 127/55=2.3(3.3) (not really south);
Denver Southeast 362/147=2.5(3.4)
Denver Southwest 127/33=3.8(4.3)
Douglas County Parker Elbert County 265/95=2.8(3.0)
Douglas County Castle Rock West 239/61=3.9(3.8)
Douglas County Highlands Ranch Lone Tree 236/96=2.5(2.2)
Jefferson County South 193/58=3.3(3.8)
South Suburban Central 137/42=3.3(4.3)
South Suburban East 129/46=2.8(4.0)

As you can see from the previous month's data the inventory of homes available to buy in south Denver continues to shrink. My continued comment is the Denver market is shrinking and there are very few “deals” left. If you want to take advantage of the tax credit, or just make a move, please do not wait. The bottom of the Denver market is behind us.

To see the previous 2 months reports click here for April and here for March.

For "NEW LISTING" statistics by month and year for Denver click here

Click to see Denver Property Sales Data by month and year

Since 1985 I have been working for you and your friends, getting ready to help you learn about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Parker, Denver, Elizabeth, Larkspur, Franktown, Kiowa, or Englewood, Colorado. We offer real estate advice, properties for sale, Buyer Agency, multiple listing service, Seller property listings, mls, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

100% Financing AVAILABLE for Doctors

A Loan officer recently shared with me that he still has 100% financing available for Medical Doctors. The individual program is not available for dentists, chiropractors, or veternarians, however medical doctors with a letter of employment, or an established practice can get either a purchase money loan or a refinance with ZERO DOWNPAYMENT.

24 years of experience can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Denver Business For Sale

I got this from a friend and a client who is retiring and wishes to sell his business:

Successful recession proof Denver business for sale..I'm having the time of my life as people want to keep and restore their items...but it's my time to fish so I am retiring. Price includes equipment and training. Please visit website to see exactly what it is I do and please only contact if you are serious and have the means to buy a business. http://www.antiqueresstudio.com/business_for_sale_denver.htm


Helping nice folks buy and sell homes in Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado,

Where to get the LOAN? FHA is the BIG DOG now!

I got this from long term friend Mark Afman...it is worth reading and/or visiting Mark's website.

FHA recently published their Fiscal Year 2008 Audit and based on this report the answer is very encouraging. Recently there have been two questions that many have wanted answers to. 1) Can FHA continue to handle the increase in volume? and 2) Will FHA be the next candidate for a bailout? From looking at this audit report the answers are yes to the volume and no to the bailout.

FHA has been called on to shoulder more of the responsibility for stabilizing the US Housing market. Because of this, many have been concerned that FHA will suffer the same fate as many conventional sources of loans. That is to say that FHA will be losing more then they are gaining. This audit appears to say otherwise. The audit gives an indication that FHA will be financially sound for at least the next 7 or 8 years. Now that is not to say that FHA has not been affected by the national housing downturn. But as on organization it is holding its own better then Fannie or Freddie. The audit actually shows an improvement in the overall loan characteristics over FY 2007. This could be due to the fact that many FHA lenders (Universal Lending included) have tightened their guidelines to originate a better quality loan. Another aspect is that FHA loans are being used more and more by buyers with good credit. In this report it shows that the number of buyers with credit scores over 680 using an FHA loan increased from 17% to 35% and a decrease in buyers with a credit score below 580 from 27% to 5% over that same period.

Another factor in the positive nature of this report is the improvement in the Loan-To-Value of their portfolio. Since 2005 the high LTV's (loans over 97% LTV) have been reduced from 55 to 39% and the lower LTV's (loans below 95% LTV) have increased from 20% to 34%.

So to answer the 2 questions above 1) Can FHA continue to handle the increase in volume? Over the last 15 months FHA has showed that it can handle its volume increase which is now running at 4 times the 2007 levels. Despite receiving minimal additional resources, there are two reasons why FHA can handle the volume. First, as you know, FHA approved lenders can perform all of the loan processing, underwriting, closing and insuring functions without any HUD review. Secondly, FHA?s technology, despite being 25 years old, remains resilient and fundamentally sound. With the additional resources being provided, there is now minimal concern that FHA will not be able to provide mortgage insurance certificates (MICs) in a timely manner (barring some unforeseen circumstance) even if FHA business doubled or tripled from current levels. Quite frankly, the biggest concern regarding FHA?s technology is that future changes, made with the intent of improving performance, may have the unintended consequence of impairing FHA?s performance.

2) Will FHA be the next candidate for a bailout? There was widespread concern that FHA became the ?dumping ground? for subprime loans when that market collapsed in 2007. Many press reports have been written questioning FHA?s financial strength. The FY 2008 Actuarial Review provides a current analysis of the status of the FHA program and rebuts the concern that there is a systemic problem in the program.

Now if you read the report at http://www.hud.gov/offices/hsg/comp/rpts/actr/2008actr.cfm you will see that the overall net worth of FHA is down and this is mostly due to the drop in home prices. In addition you may have read articles such as one in Business Week that are expressing concerns about the overall financial soundness of FHA. But this report shows that FHA is still in the black and is expected to remain so for many years to come. There is much more to this report and I will be happy to send you more information about it if you would like to contact me through www.markafman.com.

Pete Doty provides 23 years of experience which can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

It is not how much you make, it is how much you keep Denver Real Estate Broker explains

The concept of Metro Brokers has eluded folks in the Denver market for years.
Here is a video that was recently done at the Colorado Realtor's Association Convention by Pete Doty & Scot Shields. http://budurl.com/3pcy. Doty is a Highlands Ranch Metro Broker office owner.

23 years of experience can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, 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 www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

Baffle them with ???

Despite what I am hearing in the media, the statistics I watch are telling a different story. And while that story may not be "NEWS" it is telling me that my 23 years of experience is not wrong.

I watch for the future, not the history of Denver's real estate market, and while it is fashionable to cry "the sky is falling" the data does not support such an exclamatory approach.

However, I am hopeful that the part timers who dabble, and they will always be here, after listening to the news will run and hide, at least for a while.

One of the data bits I watch is the number of "new" listings coming on the market as an indicator of how many folks "want" to sell versus "need" to sell. When the number shrinks perception is that prices are down and we hear "I don't really need to sell. I was testing the market"... so if they cannot get what they want they do not put the house on the market. Hence fewer new listings in Denver.

To the public, this is good news. It appears that home prices, specifically in the south suburbs like Littleton and Highlands Ranch, will have stabilized and may start to gain value, slowly next year. The bottom has passed in Denver and we are lokking back at it right now. For those of you who follow this blog you know I have been noting this since my March data report: that total supply will also shrink and ultimately, demand should balance the real estate market here in Denver. Here is a chart that describes the reduction in new listings month by month for the last 6 years:

Sales data will be in the next post or check our website at http://www.denverrelocation.com

Let my 23 plus years in the Denver real estate market go to work for you or your friends! Talk to me about Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. We offer good real estate advice, properties for sale, search property listings, mls, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com

NO HOMES FOR SALE IN DENVER!

OOPs, mis-spoke! There are actually 31,355 properties in the Denver MLS listed for sale.
What I mean is, there are very few that can sell.

There is an old saying that the best listings sell the fastest. Never seemed to be truer.

So far this year we have listed 21% fewer homes in Denver than we have for the last 5 years through August. And we still have a healthy clip of sales...down only 6.7% from the previous 7 year average. The good listings are selling fast. The not so good, not so fast.

So what is with the headline? Just as in the late 1980's we are finding ourselves picking through the garbage of homes for sale to find a good one to buy. Some of the garbage include "allow 3-4 weeks for response" or "multiple offers being considered at this time" etc. Those homes are not really for sale. They have a sign out front and it is in the MLS, but the Seller cannot sell because???

A number of reasons are possible: 1. a bank is in control; 2. an attorney is in control; 3. the owner moved away and no one can find them; 4. Other? (see my previous post).

Some of the sadness here is for the Realtors who have taken on bank owned properties as listings and have agreed to keep the utilities on in their name, a practice done for many years so that the place is not frigid or dark. Un-fortunately, now the banks are not paying their bills and then going bankrupt, leaving Realtor friends with huge accounts receivable as un-secured creditors. I heard a story like this from a friend in Tennessee last winter and remembered why REO properties are not a good listing strategy. But also...

Why do the listing agents NOT proclaim their proficiency with REO's and sell them direct? Most lenders do not want an agent but rather a transaction broker to represent them. This protects "secrets". And this is an interesting little twist to the game...while the agent's sign is in the yard, some lender's prohibit the listing agent from acting as the selling agent. They feel their interests are better protected and insulated from future litigation this way.

It is all about getting there first, with the most these days. Multiple offers are common and very frustrating, as are un-disclosed short sales. However...

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