Denver Real Estate continues positive news

Denver Foreclosures are still trending at 29% fewer than in 2010. This Realtor sees good news for home owners but worries there are not enough homes for sale.
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

Real Estate in Denver. Available homes?

Last month some say I gave you too much information (what????) about the Denver real estate market. Here is a short video of this month's chart showing only July new listings (periwinkle) and sales (cranberry). Major note: NEW LISTINGS are not coming on the market. Those are the properties that are new to the Denver real estate market and replacing the closed sales. There were only 3318 new listings and 2744 sales. Take a look:






I have watched this specific data every month for the last 12 years. The number one question I get is "How is the market?" Along with being an active listor and buyers agent in Denver, this lets me know the answer. And while a newby may be able to acess similar data, they will not have dealt with the emotions of the Denver home buyer and know what their decision process is like. When you want the best in real estate in Denver, give me a call or an e. I help nice folks find awesome places to live in Denver, Highlands Ranch, Littleton, Centennial, Englewood, Parker & Castle Rock Colorado



You to can stay on top of the market by subscribing to this blog or from http://www.denverrelocation.com/.I continue to be extremely optimistic about the Denver real estate market.

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

A Denver Realtors handy moving check list

A Denver Relocation, or one to anywhere in the US might be in your future? If it is, here is a handy moving checklist I created years ago to start you thinking about the process. http://www.denverrelocation.com/MovingChecklistLongDistance.html

We hope it helps you and if you could use the services of an experienced Denver Realtor - Pete Doty has been 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 Denver Colorado.
For real estate advice, properties for sale, multiple listing service, go to:
www.DenverRelocation.com.
Drop him a note to pete@Denverrelocation.com

A Seller's Salability Check List

So I was thinking; this might help some of you sell your homes; here in metro Denver or anywhere. All the points do not need to be spot on, but the more the faster sale and the higher the price you should net.

Take a look at this:
http://www.denverrelocation.com/RealEstateSellersSalabilityChecklist.html
It is my pleasure to help you.

A Full Time Licensed real estate broker since 1985 (a quarter century!!!! YIPES) 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

Cyberstars MEET in Phoenix

Why in the world does a Realtor go to an out of town conference? The below post is from my Buddy IRA SERKES and it could answer that question.

I’m excited to be seeing my Allen Hainge CyberStar friends – some of the smartest, nicest, and generous Realtors I know
by Ira Serkes on January 9, 2010
I’ve been an Allen Hainge CyberStar for at least 10 years, and recall when a bunch of us were at a Tech Meeting in snowy Santa Fe, when the idea of an annual meeting first came along.
About a half dozen of us were there with me – Pete Doty, Judy Mc Cutchin, Wynne Achatz, Alice Held (I’m sure I left someone out) and I’ve attended every annual meeting but one (it was in Orlando; I’ve done Orlando one time too many)
Who are the CyberStars?
The tech savvy real estate agents that I learn from – the ones I can ask questions of and get lots of wise answers from, the ones I can talk about some cool thing I’m doing, and learn that someone has an even better spin on them.
There are only 200 members, with CyberStars in United States, Canada, Bahamas … and even Australia.
I even found a long lost brother, Alan Mah. No matter that Alan is Chinese and grew up in Singapore. When I walked up to him 5 years ago (it was after the Indian Ocean tsunami of 2004 and a company he was involved with donated a desalinization plant to provide fresh water) I said “I’ve been looking forward to meeting you for a long time” and he said “Me too, me too”
Since then Alan and his family with dozens of other CyberStar members, have travelled to Alaska for a week-long cruise, and Asia together … adventures I’d never have had if I’d not been invited to be a CyberStar, and honored to be CyberStar Of The Year one year.
So, this is a post of thanks to Allen Hainge (aka Bubba), who created an amazing group of people.
Thanks Bubba!
Ira … who can’t wait to tell you about the wonderful CyberProfessionals Group when I head out to our semi-annual meeting later this spring.

AND I Have to add another THANKS BUBBA to Allen.
Pete Doty has been A Full Time Licensed Colorado real estate broker since 1985.Every day he is 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

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

3.6% of "Denver" is "For Sale"

Checking the MLS yesterday in the "NORMAL AREA" known as Denver there were only 14,379 single family homes listed for sale. If there are 400,000 single family homes in Denver then we have fewer than 3.6% of the properties for sale. Not a huge inventory given there are about 2.5 million people living in metro Denver, and yes that includes the suburbs.

In the last few years Metrolist has added the Boulder, Fort Collins, Colorado Springs and other multiple listing services to their data stream so it is harder and harder to find good data. Add to the the blending and "merging" of Boulder/Longmont into metro Denver, and the real estate statistics really get blown out of the water. It is just hard to see where the boarders are. So sometimes experience counts!

My latest experiences tell me I need to counsel more on the stress this market induces. I may enjoy negotiating (and winning), but some folks find this business much more intense and frustrating, especially when there are multiple offers, and with only one exception, every property we have dealt with this year has been a bidding war. Everyone wants a deal, and so do the other buyers. Listings are being priced low so they INDUCE multiple offers and an AUCTION atmosphere. Be ready before heading out into this market, especially the first time buyers.

Make sure to talk to a Full Time Licensed Colorado real estate broker before you make any move. 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

First time BUYER Denver Home only 127 days

or 3,048 hours left.

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

Appraisal Rule, Closings, & First Time Buyers Tax Credit

The May statistics are in and the new appraisal rules certainly affected the number of closings in May in Denver. Of course they were not the only reason closings were down but I will give them a 10% fewer closings due to the guidelines the appraisers and the loan officers must abide by. See below for more on those rules. Here is the chart for sales May since 2001. You can see the drop in demand.

One of the other factors that affects the number of sales is the number of homes on the market as most folks sell and then buy. As the number of listings on the market falls it could predict the future health of the market...more listings=less healthy; fewer listings= more healthy. So I see the drop in active listings, year over year as very good for the market and indicating upward pressure on price in the future. Many folks have hunkered down and are awaiting a market turn before putting their homes on the market. National events certainly effect our personal perceptions of what is happening. Here is the chart for new listings entering the market.

The new APPRAISAL RULES and what they could mean to you...refinancing or buying a home:
The long and short of the new rules are that the loan officer cannot talk to the appraiser, and the loan company cannot hire their own appraiser over and over. There is supposed to be a wheel to assign appraisers to files. That said the cost of the appraisal has gone up as there is now a 3rd party Appraisal Coordination Service (ACS) who has created the wheel and is supposed to assign an appraiser. This part is working fairly smoothly at this time.

Interestingly, the Realtors are NOT prohibited from speaking to the appraisers, only the loan company, and frankly I have only investigated a very narrow spectrum of these rule.

One other thing the new rules have caused; a price increase to pay for the Appraisal Coordination Service, so instead of $350 an appraisal might cost $400.

It seems the "wheel" could be problematic in that an appraiser from Greeley could be assigned to do an appraisal in Pueblo in spite of the fact the appraiser has never seen Pueblo and does not know there is a Pueblo West too. And I would not want a city of Denver appraiser doing a farm & ranch appraisal in Newcastle either. SO when you are getting an appraisal, there seems to be a couple of questions you might wish to ask the appraiser, BEFORE they start the process and finish spending your money.

Where are you located?

When was the last time you did an appraisal in this area?

How many appraisals have you done in this neighborhood?

The final item today that may have "slowed" the number of sales in May was the premature announcement by HUD that the $8000 tax credit could be used as down payment. The details of this proposal are still being worked out and the result is that quite a few buyers are sitting and waiting for the "OK" to go. A shame in that a loan from Grandma could get the job accomplished the same way. Talk to me or your lender of choice before you make a decision not to proceed. As John Wayne said in the movie The Cowboys 'we are burning daylight!'. Do not let this opportunity pass due to lack of action on your part. We are talking about up to $8000 of free money for the first time home buyer here.

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

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

Hunkered DOWN? An "AH-HA" moment

Now More Than Ever - I need Your Help.
An "AH-HA" moment...
I had one the other day when I realized my friend Tom from Leads Club needed to meet Denver area “BUILDING MANAGERS”. I made some introductions and he got 2 plumbing jobs the 1st day. Since the words "Building Managers" rang in my head there have been 3 more jobs.

Robert had one when his attorney told him “Pete knows more about the foreclosure process than I do”. Robert had introduced me to the attorney who was to help him in his foreclosure. We got his house sold fast and got him the equity he had earned over 10 years.

WHY NOW MORE THAN EVER?
Frankly, it seems that a lot of folks have “HUNKERED DOWN” and decided that moving across Denver now is not a good idea. And they are assuming everyone else feels the same way.
Yet there are folks who need to move. They just need to sell their house. They may have gotten laid off or been transferred to another work location, or they just have too many kids in a 2 bedroom apartment. I really need this kind of introduction now more than ever. There just are not as many of these opportunities as have been in the past. SO please give me a call when you learn of someone who could use my services.

Sometimes these AH-HA moments pop up in conversations or across a crowded networking event. Or in a quiet conversation over coffee, at the neighborhood BBQ, or at a soccer game. Yet invariably they all result in the receiving person being aware of the other person’s needs, and that my skill sets could help them solve a problem they are sharing. Just so you know a great intro to me is "Pete has been a FULL TIME Colorado Real Estate Broker for over 24 years. I will have him call you." Then, please call me with their name and number. Thanks.

Since 1985 I have been going to work for you or your friends, learning about their new home town! Whether it is Highlands Ranch, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Lone Tree, 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 if you want a list of my carrot words.

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 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,