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Real Estate News – May, 2010

Curious About Denver’s Million $ Home Market?

Sales of high-end, $1 million-plus homes in metro Denver dipped in March from the same month of 2009, but such homes sold faster, according to a new report from Coldwell Banker Residential Brokerage.

Homeowners also were getting sales prices closer to list price, an indicator of an improving housing market along with faster selling time.

Sales data are for existing homes — or those that have been sold at least once — and come from Metrolist Inc. of Greenwood Village, metro Denver’s Multiple Listing Service.

In March, 34 metro-area homes sold for $1 million or more, down from 37 in February and from 36 in March 2009, according to Coldwell Banker’s Denver Metro Area Luxury Home Report for last month.

Median selling price for luxury homes was basically flat from February, at $1.35 million, but down 2.7 percent from $1.39 million for the same month last year.

Last month, high-end homes averaged only 101 days on the market before selling, compared to 184 days in February and 130 days in March of ’09.

“The housing market has been moving in the right direction, but the rebound isn’t going to happen overnight,” Chris Mygatt, president of Coldwell Banker Residential in Denver, said in a statement. “It’s important to remember that any road to recovery has its share of obstacles. … Still, I’m encouraged by the improvement we’ve seen this year.”

Other data from the March luxury-home report includes:

• $3.59 million was the month’s highest sales price, for a 9,148-square-foot house in Cherry Hills Village with six bedrooms and nine bathrooms.

• In the metro area, Denver had the most $1 million-plus home sales, at nine, followed by Greenwood Village and Littleton with four sales each.

• High-end homes sold for 91.7 percent of list price on average, up from 85.6 percent in February and from 89 percent in March ’09.

 

Source: Denver Business Journal & DBJ’s Paula Moore

Happy Mother’s Day To Supermoms Everywhere!

Home Prices Rise Nationally!

By Adrian Sainz
The Associated Press

 

The 0.6 percent increase is the first year-over-year gain in a 20-city index since 2006.

Home prices in February posted their first annual increase since the end of 2006, lifted by temporary tax credits for homebuyers.

The Standard & Poor’s/Case- Shiller Home Price Index released Tuesday squeezed out a 0.6 percent gain. But that was half the increase analysts had expected. Eleven of the 20 cities tracked by the index showed declines from February 2009.

Denver was among the nine cities that showed a rise in home prices, with a 3.6 percent increase — the fourth-largest gain among metropolitan areas tracked.

The data underscored the fragile nature of the housing recovery.

Nationally, home prices are up more than 3 percent from the bottom last May but still are 30 percent below the May 2006 peak.

And there is a “risk that home prices could decline further before experiencing any sustained gains,” cautioned David Blitzer, chairman of the S&P index committee.

Prices are getting a boost from temporary tax credits that expire Friday.

First-time buyers can claim up to $8,000, and homeowners who buy and relocate can get up to $6,500. So buyers have more purchasing power.

That’s helped propel prices in San Francisco up 12 percent, the best in the index. In Los Angeles, San Diego and Washington, prices climbed more than 5 percent.

But there are still pockets of weakness around the country. Las Vegas saw the largest annual price drop at almost 15 percent. And in six markets — Charlotte, N.C.; Las Vegas; New York; Portland, Ore.; Seattle; and Tampa, Fla. — the index fell to the lowest level since peaking in 2006 or 2007.

Home prices in February posted their first annual increase since the end of 2006, lifted by temporary tax credits for homebuyers.

The Standard & Poor’s/Case- Shiller Home Price Index released Tuesday squeezed out a 0.6 percent gain. But that was half the increase analysts had expected. Eleven of the 20 cities tracked by the index showed declines from February 2009.

Denver was among the nine cities that showed a rise in home prices, with a 3.6 percent increase — the fourth-largest gain among metropolitan areas tracked.

The data underscored the fragile nature of the housing recovery.

Nationally, home prices are up more than 3 percent from the bottom last May but still are 30 percent below the May 2006 peak.

And there is a “risk that home prices could decline further before experiencing any sustained gains,” cautioned David Blitzer, chairman of the S&P index committee.

Prices are getting a boost from temporary tax credits that expire Friday.

First-time buyers can claim up to $8,000, and homeowners who buy and relocate can get up to $6,500. So buyers have more purchasing power.

That’s helped propel prices in San Francisco up 12 percent, the best in the index. In Los Angeles, San Diego and Washington, prices climbed more than 5 percent.

But there are still pockets of weakness around the country. Las Vegas saw the largest annual price drop at almost 15 percent. And in six markets — Charlotte, N.C.; Las Vegas; New York; Portland, Ore.; Seattle; and Tampa, Fla. — the index fell to the lowest level since peaking in 2006 or 2007.

 

 

In this issue:

Curious About Denver’s Million $ Home Market?

Happy Mother’s Day To Supermoms Everywhere!

Home Prices Rise Nationally!

Check out our home for sale on E Evans Ave in South East Denver

Exploring our home for sale at 1600 Spruce St near Stapelton & Lowry


Your Realtor, Steve Charlett

Even Aspen Real Estate Suffers in The Great Recession

Check out our home for sale on E Evans Ave in South East Denver

Click picture to explore this listing

Exploring our home for sale at 1600 Spruce St near Stapelton & Lowry

Click picture to explore the listing

  • Your Realtor, Steve Charlett

 

Office #

303-771-9400

Cellular #

(720) 308-6835 

 

Steve@DrRelocation.com

www.DrRelocation.com

 

Doctor Relocation, LLC

20551 E. Weaver Ave

Centennial, CO 80016

 

“When You Think of Someone Who Needs to Buy, Sell or Rent a Home… Please Think of Me”

 

 

Even Aspen Real Estate Suffers in The Great Recession
ASPEN, Colo.—Even the coveted resort town of Aspen is feeling the pinch of the Great Recession. A real estate appraisal company says the median sales price of a single-family home fell 16 percent last year.

But at the reduced price of $5.1 million, buying a home in Aspen still remains beyond the reach of all but the wealthy.

The Aspen Appraisal Group says the median price of a single-family home fell by $1 million last year. The number of single-family homes sold fell 8 percent.

The report says Aspen property prices normally don’t decline during an economic downturn, although the number of sales does.

The report also notes a glut of commercial space, with about 90,000 square feet available for a vacancy rate of about 7 percent.

Information from: The Aspen Times


Doctor Relocation, LLC. • 20551 East Weaver Ave • Aurora, CO 80016

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