According to Policom Corp. that looked at 366 metro areas and jobs and income data from two decades, Denver is the third-strongest, next to Seattle and Washington DC.  Policom’s President stated that “rapid, consistent growth in both size and quality for an extended period of time” is what constitutes a strong economy. 

This is great news for Denver and hopefully will keep our housing market on top.  Sales of upper end homes, while still slower than lower end homes, are doing better than last year.  Areas like Park Hill, Cherry Creek and Wash Park are still doing well. 

5280FineLiving.com can help with all of your real estate needs.  Give me a call for the latest trends at 303.668.6490.  Go Denver!

Don’t forget that fall will be here before you know it. With the ever so slight chill in the air that Denver Metro has felt the last couple of days, it reminded me that fall is just around the corner. That made me think of all the “honey do’s” that need to be done around the house.
One very important chore is getting your furnace cleaned and serviced. I would most likely never remember to do this except that I attend a lot of home inspections. In just about every inspection, the inspector recommends that the furnace gets cleaned and serviced. It is very important to the long term health of your furnace and the cost usually runs around $100 to $150; a small price to pay for something that is so important.
You may also think about fixing any draft problems. I recently replaced the door that goes out to the garage. After 21 years of use, it wasn’t straight and was letting in a lot of cold air. Safety doors are not cheap, but well worth it to help keep heating costs down. Now, no more freezing air blowing into my house!
Let’s not forget about the exterior. You may want to start the yearly investment in winterizer for your lawn. The exterior curb appeal of your home is just as important. After all, it is the first impression of you!
Your home is your castle (and typically one of your primary investments). The nicer you keep it, the better it will sell when the time comes to move on.

We have all heard the old real estate saying: what are the three most important things in real estate? Location, Location and Location. Well, nothing has changed. Location is still king in real estate. According to the Denver area MLS, as reported by the Denver Business Journal, Boulder/Lousiville area home prices have risen more than 26 percent over the past year.

Another area doing well is Highlands Ranch and the surrounding area. Highlands Ranch has a great location, lots of great amenities and very few new homes being built. But, anyone who knows me well, knows that I have said for many years that Highlands Ranch will do well because it is the perfect suburban neighborhood. CNN Money rated it #12 out of 100 neighborhoods across the United States in 2008. That’s not too bad!

Bottom line: the “good” areas are doing well. Proving once again that Location is THE most important thing in real estate.

To find out more about these neighborhoods and any of the Denver Metro neighborhoods, go to www.5280FineLiving.com/neighborhoods.html

Once again I am hear to spread the good word about the Denver home market. While some many cities are experiencing severe downward trends, Denver is showing the signs of recovery! One of the criteria is that sales across the metro area are evenly distributed showing proportionate activity. Forbes also determined that average price per square foot of housing space increased 5.7 percent in Denver between February and March of this year. Forbes also quoted Moody’s economist Christopher Cornell as saying. “It has better growth potential than most cities today.”

The stars are aligning folks. Now is the time to buy a home in Denver. Prices are are starting to rise again, but they are still low compared to where they were at the top of the market. Rates are still historically low as well. For those who qualify, you may be able to get the 8k tax credit also. There is no better time than the present! Don’t sit on the sidelines and wait until the market is expensive again. It’s only going up from here!

According to the S&P and the Denver Business Journal, Denver’s existing home prices have climbed a tenth of a percent in March! This is just one more bit of evidence that Denver is on the rebound. Again this goes along with other experts and what I have been saying for some time now.

What everyone misses in these articles is that Denver was in a decline before any other city. We hit our peak in 2001…in my opinion…even though the article states that we hit our peak in 2006. Maybe that was true for the luxury market, but not true for the regular folks. We were first in foreclosures before anyone else. So it only makes sense that we bouncing before most everyone else.

Although the market here in Denver Metro is doing better, the luxury market will lag behind. First time home buyers are bidding up! Luxury buyers are still bidding down. How long until it catches up? Who knows, but it feels good to see folks buying!

For all of your home needs, see www.5280fineliving.com . Setting the standard in luxury.

The market in Denver Metro for homes priced at $250k and below is brisk. We are finding that most homes in this range, if they are somewhat decent, are getting multiple offers/contracts. This being said, do not assume that it is a buyers market when bidding on these homes. We have seen homes on the market for only a matter of a few days with as many as 13 contracts! No kidding! Make sensible bids. Do not try to be that guy/gal who thinks, “I am going to bid stupidly low and they will love me just for making an offer.” Sorry, but it’s not working.

Specializing in Denver Metro, Colorado.
Adam Itchkawich / 303.668.6490