Monday, December 28, 2009

Denver real estate fares better than most

Times were tough for metro Denver commercial and residential real estate businesses in 2009, but not as bad as in many other U.S. cities. The constricted debt market remained one of the biggest problems for all real estate businesses, including commercial developers and homebuilders. The federal government’s $8,000 first-time homebuyer tax credit did what it was supposed to — stimulating sales of both newly built and existing homes in lower price ranges. “For Denver’s housing market, 2009 was a year of so many industry changes, from short sales to new loan and appraisal rules,” said Leeann Iacino, president/CEO of Re/Max Professionals. “It was a year for not only the real estate professionals to retool their business, but also for the consumer to really understand all the changes.”^2642401&s=industry&i=commercial_real_estate