Housing and Urban Development Removes 90 Day Seasoning Rule
This might not seem like a big deal to most home buyers in our average to higher end real estate market, but this will effect many first time home buyers in Denver. In the past, an investor had to wait 90 days to sell a fix and flip home to an FHA buyer. Since many of these investors need to turn their cash quickly, the homes sold to buyers with cash or conventional financing. That left many FHA buyers looking at homes that they could not buy due to the government restrictions. Those FHA buyers in Denver are now going to be on a level playing field with other buyers who have cash and conventional financing.
Will competition for lower priced homes increase?
The competition for homes in good condition under 200K is already pretty intense in and around Denver. Now that the restriction is lifted Read the rest of this entry »
Your may want to learn about a new Core Knowledge preschool – 8th grade charter school is coming to Highlands Ranch. The original vision for the school was created in 2004 by a group of Highlands Ranch parents with a strong desire to create a more challenging and meaningful educational program for their children and the community at large. The founders successfully opened North Star Academy in Parker in August 2006.
Familiar Faces at North Star Academy West
Many individuals from the original founding team have joined our NSA West Board of Directors and parent volunteer base to ensure a successful opening. Read the rest of this entry »
South Facing Reality About Snow Removal
I love getting things for FREE. Why do you think one of the most popular categories on Craigslist is the FREE section? You are probably an el cheapo like me and that is how you ended up on my blog looking for free stuff. Maybe you thought that it was a teen youth group doing good deeds to reach out to the neighbors. It’s not even that complicated. All you need to do is buy a house or town house with a south or southwest facing driveway and a little patience. In fact if you are REALLY patient it doesn’t matter what Read the rest of this entry »
Low Priced New Homes Are Selling Well
Are you sick and tired of waiting for the bank to approve your Denver short sale offer? Did the small of the last bank foreclosure that you looked at turn your stomach. It just needs new carpet and paint!?!?!? Yeah Right? Builders that construct brand new homes with a garage under 150K actually exist in Denver.
Two Bedroom Condos Under 100K Brand New
If you are a Denver First Time Home Buyer, you can end up buying a property and end up with more money than you started with. In addition to being paid to buy a brand new Denver Condo, low interest payments make it cheaper than paying rent. The best deals in Denver Real Estate are actually with brand new construction.
Denver New Constructions Starts are low
2009 will be one of the slowest years ever in the new construction industry for Denver. Very few builders are drawing housing permits at this time. Many new home builders in Denver have filed for bankruptcy or gotten close to it. The new home builders in Denver that provide great new homes for under 200K are staying very busy. Click here to find out how to get information about a few of these communities.
New Homes in Denver Under 150K
Home Values Rise in Denver Over Last October
For the entire area that Metrolist ( Denver’s MLS ) covers the average sold price in October was 4.6% higher than in October 2008. The average sale price of a single family residential was $250,172 in October 2008. The average sale price of a Denver area home that sold in October 2009 was $261,771.
Inventory of Denver Homes Still Low
Many sellers have decided to remain on the fence when it comes to placing their home on the market. In fact the Denver real estate inventory is half of what it was in October 2007. In two years our inventory has been cut in half. If you were to take short sales and foreclosures out of that mix our inventory would be almost 66% less than in October 2007.
Denver Real Estate Sales are Down
The lack of Homes for sale in Denver is the number one reason that the number of sales is down 15.2% YTD compared to last year. There is incredible pressure on existing homes listed on the market with several offers submitted within days on well priced Denver Properties.