Thursday, January 7, 2010

top five sources of information for buyers were: Internet (90%), real estate agent (87%), yard signs (59%), open houses (46%) and newspaper advertisin

Lots of Useful Information Contained in 2009 Survey of Home Buyers and Homes Sellers - According to the National Association of Realtors® 2009 Profile of Home Buyers and Sellers, the top five sources of information for buyers were: Internet (90%), real estate agent (87%), yard signs (59%), open houses (46%) and newspaper advertising (40%). When asked which information sources were very useful, the top three were real estate agent (81%), Internet (77%) and yard signs (42%). 36% of buyers found the home that they ultimately purchased on the Internet; another 36% learned of that home from a real estate agent. The methods that actually work – that bring the right home in front of buyers – are among the least expensive: the Internet, working with an agent (who learns about properties through the MLS), and signs. 84% of buyers learned about their home through one of these sources. Conversely, some of the most expensive methods – newspapers, home books and magazines, and television – are among the least effective. Only 4% of buyers found their homes via these media. See the full article for more stats:
http://realtytimes.com/rtpages/20100106_useful.htm

Tuesday, January 5, 2010

Redevelopments along Broadway, Denver

Lumberyards mixed-use project set to rise along South Broadway - Real estate investor Jon Cook has spent the past 40 years assembling property along South Broadway, and now he is getting ready to start an ambitious redevelopment plan. Plans for the mixed-use project include housing, office, retail and restaurant space. The project, known as The Lumberyards, would be located on several blocks west of South Broadway and West Jewell Avenue. The first eight-story building is being planned and designed. It will include an upscale restaurant at street level and residences above. Cook's properties fall in the district covered by the Evans Station Area Plan, aimed at creating a vibrant, urban neighborhood. The plan calls for redeveloping underutilized industrial areas into mixed-use transit-oriented urban centers such as the one Cook is planning.
http://www.denverpost.com/business/ci_14122445

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.”

http://www.bizjournals.com/denver/stories/2009/12/28/story4.html?b=1261976400^2642401&s=industry&i=commercial_real_estate

Sunday, December 27, 2009

LoDo: Denver’s real estate hot spot

http://insiderealestatenews.com/2009/12/lodo-denvers-real-estate-hot-spot/

Tuesday, December 22, 2009

Move-Down Buyers Can Be Eligible For Tax Credit Too

- Move up, move down, move sideways; it just doesn't matter - buyers may still qualify for the new tax credit available to current homeowners. It is unfortunate that the credit has too often been characterized as a credit for "move-up" homeowners
http://realtytimes.com/rtpages/20091222_movedown.htm

Monday, December 21, 2009

Fewer homebuyers calling off contracts

- Cancellation rates for buyer contracts on newly built homes were down by half in late 2009, and the rate of home shoppers who buy was up, indicating an improving Denver-area housing market. Weekly cancellations in November and December averaged roughly 22%, compared to 40% to 45% for the same months of 2008, according to Metrostudy Inc.
http://www.bizjournals.com/denver/stories/2009/12/21/story11.html?b=1261371600^2611191&s=industry&i=resi_real_estate

Tuesday, December 8, 2009

Under contracts drop, but homes prices up

The extension of the tax-credit for home buyers seems to have removed a sense of urgency. Last month, 3,444 Denver-area homes were placed under contract - a 29.9% drop from the 4,910 homes placed under contract in October. .
http://insiderealestatenews.com/2009/12/under-contracts-drop-by-30-but-homes-prices-up/