Highlands Ranch Market Activity

Highlands Ranch Activity in the last week

This Week

The median list price in HIGHLANDS RANCH, CO this week is $462,500.

Even though the days-on-market is trending higher, so is the Market Action Index at these inventory levels, providing a neutral outlook for the market.

Compliments of Homestead Title

Buying a Fixer Property

We have seen in the last 12 months a reduction in the number of properties for sale in Denver.  We have also seen a decrease in the number of Bank Owned and/or Distressed properties too. However there are still many properties out there which would appeal to you if you want to fix up a property.  If you are planning to live in the property, you have to careful about how you finance these type of properties.  The regular FHA program is probably out, you can do an FHA 203K where the loan includes money to do the repairs.  Conventional is an option where you have separate funds to do the repairs.  You should speak to a Lender to find out the best options for you

We have no idea what is in the 'shadow inventory' but it is good to be on the alert of new properties coming on the market.

If you would like to receive alerts of these types of properties, CLICK HERE

If you would like to see some examples, CLICK HERE

Looking for a Property with Mountain Views ??

One of the fabulous aspects to living in the front range in Colorado, is our amazing expanse of the Rocky mountains.  In fact it is quite impossible to get lost, you just look for the mountains and figure if you are heading north, south, east or west.

So it figures that 'views of the mountains' are a popular request when buyers are looking for a home.  

If you are in wanting a home with mountain views, or even city views, Click here to take a look at what is available

Denver Real Estate Stats for June

June - 2013 Real Estate Market Stats

Entire MLS (All Areas)

Residential Highlights:

• 11.4% increase in the number of closed sales year-over-year
• 19% increase in the number of closed sales year to date
• 39.4% decrease in average days on market (43 days in June)
• 16.7% decrease in # of active listings
• 22.3% increase in # of new listings (6018 new listings in June)
• 7.7% increase in average price - sold ($349,339 in June)

Condo Highlights:

• 22.8% increase in number of closed sales year-over-year
• 23.5% increase in number of closed sales year to date
• 41.9% decrease in average days on market (43 days in June)
• 12% decrease in #  of active listings
• 36.3% increase in # of new listings (1527 new listings in June)
• 9.1% increase in average price – sold ($198,040 in June)

information courtesy 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.

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Over Pricing Your home - will I make more ??

One of the first things I was told when I started working as a real estate agent is that I had a solemn moral and ethical obligation to scare the #@%*^ (daylights) out of sellers about the dangers of over pricing their homes.

Grizzled veterans explained that over pricing a home leads to many bad things: fewer showings, longer time on the market and ultimately getting less than full market value for the property. 

It is conventional wisdom in the industry that over priced homes eventually sell for less than full market value.

Sellers are often shown this chart from data published from the National Association of Realtors to confirm this fact. Some sellers priced right and sold in less than 30 days for about 2% under asking price. Other sellers priced too high, sat on the market more than 90 days and were punished by having to take 10% less than asking price.

Well … not so fast. Here is another chart. This is research done on a suburban area including parts of Littleton, Englewood and Centennial in the metro Denver area. It covered almost 500 two-story homes with 2000 to 2800 square feet that sold over a six-month period in 2011.

Pretty startling! Regardless of days on market, these homes were selling between $341,000 and $345,000. The houses that took more than 90 days to sell got 10% less than their inflated asking price but still ended up selling for the fair market value in the low $340s.

So the real estate industry is just flat wrong about over pricing. All things being equal, over pricing is not going to hurt you financially as a seller.

On the other hand, over pricing does not help either! On average, the people that started with higher asking prices did not accomplish anything by doing so. They eventually had to come down to the market price range to get their places sold.  Plus you have the longer inconvenience of showing your home, making sure your pants are in place everyday!

Rethinking the conventional wisdom in real estate is one of our passions at Colorado Home Realty. We ask continually if the old rules of thumb are really true. By doing so, we are discovering that some traditional approaches are wrong and we are innovating new approaches that make your transaction faster, safer, more enjoyable … and more profitable

(c) Colorado Home Realty

compliments Mike Cooke

Realtor V FSBO - should I sell my own home ??

Realtors vs. For sale by owners infographic by markdunkley.

Why you should be buying or refinancing TODAY !!!