Luxury home resales were down this last December, however, overall sales of luxury homes were up by 11.6% in 2010, according to Metrolist, Inc. and the Denver Business Journal. Homes sales at 1 million-plus rose to 528 from 473 units.
There were 42 high end homes sales last month in 6 of the metro area counties. Boulder had 12 sales, Denver had 10, Arapahoe and Douglas with 8 each, Jefferson with 3, and Broomfield with 1.
A recent CU survey reported by the Denver Business Journal states that the confidence level of Colorado business leaders has reached pre-recession levels for the second time in three quarters.
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!
Did you know that if you fit into one of these four professions, (Doctor, Lawyer, Dentist or CPA) there is special financing for you at 100% LTV! Give me a call at 303-668-6490 to get more info.
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.
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!
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
The Colorado Rockies have won two consecutive games, beating the San Diego Padres 12-7 in a freaky game yesterday. Dexter Fowler, the team’s impressive rookie center fielder, tied a major league rookie record by stealing five bases (via The Denver Post). But it wasn’t all good, as outfielder Brad Hawpe was taken to the hospital after being hit in the neck by a pickoff throw, according to The Associated Press. This is the second consecutive game in which the team’s offense exploded. The first came after shortstop Troy Tulowitzki was benched because of poor hitting, according to the Post.
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Oddball Item of the Day:
It turns out the Four Corners–the only place in the United States where four states (Colorado, New Mexico, Arizona, and Utah) meet–isn’t 2.5 miles off the mark, as Deseret News and The Associated Press recently reported. It’s about 1,807 feet east of where it ought to be, according to numerous news corrections, notes Westword. As for the states, they’re okay with where the current site is.
5280 Fine Living is your Luxury Resource for homes and all things good in Denver Metro and Colorado. www.5280fineliving.com