Home prices in the Denver area rose in August for the sixth straight month, and prices are now nearly where they were a year ago, according to Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index.
Home prices in Denver rose 1.0 percent in August from the previous month, according to the index report, released Tuesday. That follows a 1.5 percent rise in July, a 2.5 percent month-over-month rise in June, a 1.3 percent increase in May and a 1.5 percent rise in April.
Denver home prices were down 1.9 percent in August compared with the same month in 2008.
Denver’s year-over-year decline in August was the second-smallest of any of the 20 U.S. cities tracked by the Case-Shiller Index, bested only by Dallas (a 1.2 percent decline from August 2008). All 20 cities declined to some extent. The steepest declines were in Las Vegas (down 29.9 percent year-over-year), Phoenix (down 25.1 percent) and Detroit (down 22.6 percent).
“Broadly speaking, the rate of annual decline in home price values continues to improve” David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement Tuesday.
“While many of the markets remain down versus this time last year, the relative rate of decline has shown some real improvement,” Blitzer said. “California, in particular, has seen some real positive prints in recent months. We see this general trend whether you look at the as-reported data or the seasonally adjusted figures.
“Once again, however, we do want to remind people of the upcoming expiration of the Federal First-Time Buyer’s Tax Credit in November and anticipated higher unemployment rates through year-end. Both may have a dampening effect on home prices.”
The index is compiled by comparing matched-price pairs for thousands of single-family homes in each market. Standard & Poor’s and Fiserv Inc. publishes it.
Wednesday, October 28, 2009
Tuesday, October 20, 2009
How do I select the best neighborhood?
The first step in selecting the best neighborhood that will best fit your needs is determining the lifestyle you prefer.
There are several options including a single family home, high rise condo, mid-rise condo, townhome, patio home, or loft living. You may want to be in a more urban area or suburban area. We have the luxury here in Colorado to even find a home in the mountains.
Some other important factors to consider are:
There are several options including a single family home, high rise condo, mid-rise condo, townhome, patio home, or loft living. You may want to be in a more urban area or suburban area. We have the luxury here in Colorado to even find a home in the mountains.
Some other important factors to consider are:
- Neighborhood parks, bike paths, libraries, etc.
- Commute time to work, airport, functions
- Distance to schools, church, health clubs, physicians
- Access to shopping, restaurants, movies
- Transportation needs such as public or if you will need a car
Your next consideration could be the type of neighborhood you prefer. Do you want a new neighborhood or an old one? An older, existing neighborhood is usually more centrally located and has mature landscaping and charm. Typically, a newer neighborhood tends to be more suburban with a fresh, clean look to it, but little mature vegetation.
School districts can be an important factor. Is a private or public school important? With either, it is good to research options and look at test scores, ratings, and make a trip to the schools.
Look that the crime statistics. Is the crime in the area increasing over time or decreasing?
Is there a Home Owner's Association? If so, what are the rules and regulations you must follow?
It is a good idea to drive around the neighborhood during the day and at night. Do you feel a sense of community and pride of ownership? Remember, when you buy a home, you buy the neighborhood as well.
Thursday, October 15, 2009
What are some good home winterizing tips for outdoors and indoors?
Outdoors
1. Check the gutters and downspout systems and remove all debris, and check that the opening between the gutter to make sure the downspout is unobstructed. Look for loose joints or other structural problems with the system. You can repair with pop rivets. Also, a gutter sealant works well for any connections that may be leaking.
2. Drain or blow out sprinkler systems and irrigation systems , especially in colder areas. You can rent a compressor and do this yourself, or contact a landscape or irrigation system installer to handle the job. This is also the time to shut off outdoor faucets and install freeze-proof faucet covers as needed.
3. Close off foundation vents to help prevent pipe freezes when the forecasts begin calling for freezing temperatures. Once closed, you can leave them that way until it warms up again in the spring.
4. Pack up the patio furniture and be sure to make sure the cushions are dry before storing in order to prevent mildew growth.
5. Check weatherstripping around door and windows that are worn. Air leaks around doors and windows can rob your home of expensive heated air and create uncomfortable drafts that keep you feeling chilly. Also, it is a good time to check the condition of caulking around exterior door and window frames.
Indoors
1. Change smoke detector batteries with a fresh one. When you are done, check the detector to make sure it is working properly.
2. Install a carbon monoxide detector to check for too much propane and gas in the home. As houses get closed up for winter, the chances of carbon monoxide poisoning from malfunctioning gas appliances increases substantially.
3 Change your old furnace filter with a new one. While completing this task, check the furnace for worn belts, lubrication need or other servicing that might be required. Follow any manufacturer safety instructions for shutting the power and fuel to the furnace before servicing.
1. Check the gutters and downspout systems and remove all debris, and check that the opening between the gutter to make sure the downspout is unobstructed. Look for loose joints or other structural problems with the system. You can repair with pop rivets. Also, a gutter sealant works well for any connections that may be leaking.
2. Drain or blow out sprinkler systems and irrigation systems , especially in colder areas. You can rent a compressor and do this yourself, or contact a landscape or irrigation system installer to handle the job. This is also the time to shut off outdoor faucets and install freeze-proof faucet covers as needed.
3. Close off foundation vents to help prevent pipe freezes when the forecasts begin calling for freezing temperatures. Once closed, you can leave them that way until it warms up again in the spring.
4. Pack up the patio furniture and be sure to make sure the cushions are dry before storing in order to prevent mildew growth.
5. Check weatherstripping around door and windows that are worn. Air leaks around doors and windows can rob your home of expensive heated air and create uncomfortable drafts that keep you feeling chilly. Also, it is a good time to check the condition of caulking around exterior door and window frames.
Indoors
1. Change smoke detector batteries with a fresh one. When you are done, check the detector to make sure it is working properly.
2. Install a carbon monoxide detector to check for too much propane and gas in the home. As houses get closed up for winter, the chances of carbon monoxide poisoning from malfunctioning gas appliances increases substantially.
3 Change your old furnace filter with a new one. While completing this task, check the furnace for worn belts, lubrication need or other servicing that might be required. Follow any manufacturer safety instructions for shutting the power and fuel to the furnace before servicing.
Sunday, October 4, 2009
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