Denver is projected, by almost every survey and economic forecast, to be one of the primary cities emerging out of this economic climate. It seems apparent that Denver's real estate market is already moving up the north side of this economic curve.
According to data from InsideRealEstateNews.com; in 1999 (from 1/1 to 10/31), Denver metro had 39,867 homes sold. The peak was in 2004 when 45,397 homes were sold in the first 10 months. So far this year, metro Denver has had 35,512 sales (and climbing).
Home sales in the 7 county Denver area were up 11 percent from October 2008. The median price, for the same period, grew more than 4.5 percent.
Sales in price ranges above $250,000 were also improving as move-up buyers surfaced over the past few months. Expect this to continue into 2010, especially with the new $6,500 tax credit.
Our foreclosure activity was down over 6% from last month from 10/08, however Colorado ranked #11 in foreclosures nationally, down from being #1 two years ago.
Metro Denver's active listing inventory fell below 20,000 homes last month, down 15% from 10/08, and down over 30% from 2005.
The average price of a home sold in October was $261,771, which is almost 5% higher than in 10/08.
Absorption rates changed for the better, with single family rates down from 5.5 months to 4.9 months of supply. Also, homes in the under $300,000 price ranges are moving significantly faster than the upper ranges.
Monday, November 30, 2009
Wednesday, November 11, 2009
How staging your home to get top dollar in the market
If you are concerned about getting a reasonable offer price for your home when selling in today's more challenging market, there are several things you can do to position your home in the best light to make it the last home buyers see and want to put in an offer on.
Staging your home is an easy, cost effective way to get top dollar when an offer comes in on your home. Statistics have shown homes that are staged bring in up to 5 percent more than if the home is vacant. Sellers should also declutter, touch up the interior with a fresh coat of paint if needed and enhance street appeal through landscaping and outside maintenance.
Less is more when it comes to staging. Also, it is good to have at least one item of bright color to lighten up a room such as fresh flowers, painting, or a colorful vase. Take everything off the kitchen counter except the coffeemaker. Also, take down personal pictures. Often, I have clients I take to homes and they do not remember the house, but what pictures were in the home of the people that lived there. Take extra seasonal clothing out of closets so they seem more spacious. Have window treatments cleaned and leave open to make rooms seem as light and bright as possible.
Another good idea before listing your home to sell is having a cleaning professional come and also a yard service clean up the lawn if you are too busy to do this yourself.
Staging your home is an easy, cost effective way to get top dollar when an offer comes in on your home. Statistics have shown homes that are staged bring in up to 5 percent more than if the home is vacant. Sellers should also declutter, touch up the interior with a fresh coat of paint if needed and enhance street appeal through landscaping and outside maintenance.
Less is more when it comes to staging. Also, it is good to have at least one item of bright color to lighten up a room such as fresh flowers, painting, or a colorful vase. Take everything off the kitchen counter except the coffeemaker. Also, take down personal pictures. Often, I have clients I take to homes and they do not remember the house, but what pictures were in the home of the people that lived there. Take extra seasonal clothing out of closets so they seem more spacious. Have window treatments cleaned and leave open to make rooms seem as light and bright as possible.
Another good idea before listing your home to sell is having a cleaning professional come and also a yard service clean up the lawn if you are too busy to do this yourself.
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