Buyer Needs in Denver Metro

I have Buyers looking in the following areas? Know anyone thinking of selling ?? Contact me and I will put the deal together.

*  Wash Park / DU – bungalow style upto $275,000

* Cherry Creek – up to $3,000,000

* Highlands Ranch Golf Course – ranch or main floor master – up to $700,000

* Distressed properties / short sales.  Any price, any area

* 1-2 bed condo around DTC.  Up to $100k

Buyer Needs in Denver Metro

Neighborhood Sales in Westridge Glen, Highlands Ranch

Westridge Glen, Highlands Ranch is a sub-division situated on the north west corner of Highlands Ranch Parkway and Lucent.

There is a mixture of single family homes ranging from patio homes through to the Sanford Homes which sit on the west of the sub-development. Homes for sale in Westridge Glen, Highlands Ranch start from the low $200′s and go through to the mid $600′s.  To see current homes for sale, CLICK HERE

Some of the home back to Marcy Park, facing west boasting amazing views of the mountains.

Westridge Glen, Highlands Ranch is in a perfect location for amenities. On the west side is Marcy Park which has large soccer / sports fields and playground. Further down the pathway is Rover’s Run Bark Park which has recently been extended and now features areas of shade.

Here are the neighborhood solds for Westridge Glen from Feb 2012 – Aug 2012.  Its a great time to sell your home in Highands Ranch.  The average days on market for this subdivision was 68 day.  6 out of the 22 sold under 12 days

Neighborhood Sales in Westridge Glen, Highlands Ranch

Denver Real Estate – June Stats 2012

Well the market is bouncing back.  Looking at residential sales in the Denver Metro Area :-

• Sales were up over 20% from this time last year
• The days on market have reduced by over 28%
• And the average price sold was up by 11%

The price of condos also rose by over 14%. 

Compliments of Land Title.  Based on Information from Metrolist, Inc. for the period Jan 2010 through present.Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy.  Data maintained by metrolist, Inc. may not reflect all real estate activity in the market.

May 2012 Denver Real Estate Trends

May 2012 Denver Real Estate Trends
Here are the latest Trends in Metro Denver.  The number of properties closed up by 12% to 16% while supply is down by 37% to 52%. The number of properties under contract at the end of May are up about 24% from what they were at the end of May in 2011. The sale prices of properties closed in May of this year are about 10% to 12% higher than May of last year although the 12-month moving average is up only slightly.

Look at payments ... not the price

Since January, there has been a definite shift in the Denver Real Estate market.  Buyers, making the most of the low interest rates and increasing rents, are lining up to buy homes … which aren’t there??   Good priced homes in great condition are moving FAST!!  Because of this demand, Sellers are getting their homes sold at the price they want.  So the discounted pricing is not really there.

So as a Buyer, don’t be discouraged that prices are starting to level, or even increase.  The interest rates are still historically low.  But for how long?  Economists are predicting that the interest rate could start to increase.  This article HERE by Lawrence Yun, Chief Economist, gives reasons why this increase may happen.

If a house comes on the market which checks all your boxes, you could expect to be in a competitve situation, and offer asking price .. or even more?  However, by offering a bit more, and with interest rates being low, you should look at your monthly payments, rather than the price.  See the chart below  to see how this could work to your advantage

Based on this, if you decided that $1,900 a month was a comfortable payment for you, in today’s market, you could borrow $40k more with the interest rate around 4% than if that rates increases to 5%.

So you might feel you haven’t got the deal of the century in terms of the price you pay, but if it means you getting your dream home against the competition for the sake of increasing your offer, your monthly payment will be worth it against today’s current interest rate.

Source kcmblog.com, National Association of RealtorsLook at payments ... not the price

A HUGE shift in the market is happening ...

One year ago the number of closed transactions (DEMAND) was down 6.4% and the number of active listings (SUPPLY) was up 5.2% over the prior year in metro Denver. But the story is different this year! Demand is up and supply has dropped! For January 2012 the number of closed, single-family transactions is up 15.6% and the number of active listings is down 39.1%. The supply of available properties has steadily declined over the last 12 months and the demand is now ticking upward. While it is too early to call the increase in demand a trend it is a clear shift from the previous year. We see the same pattern for multi-family properties (condos and town homes) with the demand up 10.4% and supply down 50%. The decreased inventory of available homes is enough to put upward pressure on property values and if demand continues to increase, the market should see measurable increases in value in the not-too-distant future. We shall see what the coming months bring as we move into the “buying season.” Let me know if you would like to discuss the dynamics of the real estate market where you live.

Single Family Stats

Multi Family Stats

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A HUGE shift in the market is happening ...

Cherry Hills Village | Julie Reddington Real Estate

Cherry Hills Village is located between downtown Denver and the Denver Technological Center. It maintains a rural atmosphere and high quality of life in the city. There are no commercial areas in Cherry Hills Village.

Golf and Recreation
The Cherry Creek Country Club includes a golf course that has been the site of three US Opens and two PGA championships. There is also the Glenmoor country club

Recreational facilities, including tennis and swimming clubs, abound in the area.

Shopping
The Cherry Creek Mall offers upscale shopping for the area.

Homes in Cherry Hills

Distinct neighborhoods within the community include Cherry Hills North, a friendly neighborhood of only 148 homes on one-third to half-acre sites; Old Country Club, with homes built by the first village residents; Cherry Hills Farms, with one-acre sites and magnificent abodes; Glenmoor, which attracts buyers to its elegant golf setting; Charlou, appealing to new custom home buyers; Covington, an elegant neighborhood of only 42 homes; Cherry Hills Park, with splendid estates, many with European-style gardens and water fountains, overlooking Cherry Hills Golf Course; Sunset Drive, whose magnificent estates could grace the covers of architectural design magazines; and the newer Buell Mansion, an exclusive, prestigious neighborhood on a private reserve with 110 stunning custom estates on one-half to 2 1/2-acre sites,

Cherry Hills Village | Julie Reddington Real Estate