Castle Rock real estate complete with the furniture. Move in ready this home is a 2 bedroom or convert the loft into the 3rd bedroom and all the furniture is coming with it. All appliances along with a spectacular covered rear patio. Price at just $199,900 this home is an exceptional buy. See it today, it will be gone before you know it.

David Richins

Broker Associate, GRI, ABR, e-Pro, SFR, CDPE

RE/MAX Professionals

D 303.882.7706

Beautiful 2 Story with  awesome park like yard. Mature landscape, play area, water feature, and views of Pike Peak. Inside you will find hardwoods just refinished looking new and granite counter tops. 4 bedrooms, 4 baths, and 4 car garage along with a finished basement and rec room. The main floor features 2 individual studies with marble and slate tile.  Located in the South Pinery you will find this house to be your new home!

David Richins

Broker Associate, GRI, ABR, e-Pro

RE/MAX Professionals

D 303.882.7706

Interest rates on 30 year fixed rates are at all time lows and changing daily, currently around 4.25% and 5/1 arms around 3.75%. There are even great rates for jumbo products that are out there. We have local and national lenders to assist in this process. When it comes to appraisals and market value call the pro’s and let us help you.  

Thinking about buying or selling in the Colorado Real Estate market call the team with the experience and market knowledge and know how to get the job done!

David Richins

Broker Associate, CDPE, SFR, GRI, ABR, e-Pro

RE/MAX Professionals

D 303.882.7706

F 303.688.0287

www.GoColoradoRealEstate.com

www.RichinsHomesTeam.com

All real estate data taken from Metrolist, Inc, on Aug 5-8, 2010.  Denver, Colorado.

“What are the Most Important Facts Buyers and Sellers want to know about Today’s Real Estate Market?”     

There are 5 important questions posed to Real Estate Professionals from the buyers and sellers in today’s marketplace that help them decide about what to do in their real estate future.  The consumer will ask about “How’s the Market” and it’s the brokers’ job to share the real factual answers to provide the consumers the correct data to overcome the fear of entering the market and take advantage of what could be the most opportunistic housing market in Denver history.

Question 1      How will homes being foreclosed in my neighborhood affect my home value for the future?

            Answer:           Since foreclosed properties are typically sold, “As Is” buyers are purchasing at slightly below market values which will affect the value of homes in the same neighborhood for the short term.  However, most neighborhoods have a small percentage of sales that are foreclosures.  In fact, foreclosed sales average 7% of homes selling today and most neighborhoods have another 6% of short sales occurring.  This leaves 87% of all sales in most neighborhoods selling at market value holding the value of your home closer to the current market conditions. 

            Rational Thought:       Foreclosures sales or short sales do negatively affect value in the eyes of the homeowners living in the neighborhood.  However, like any other non-arms length transaction the reduction in value will be dictated by the number of foreclosed properties in relationship to other sales over the last 90 days.  Since most banking experts and foreclosure services are stating that any additional numbers of additional foreclosures entering the market are at the peak, the market will see less valuation fluctuations moving forward then we’ve seen the last 36 months.

Question 2      What is the current supply/demand of homes?

            Answer:           Knowing the supply and demand of any product predicts what the opportunities are in the market.  For example, there is a 5.45 month supply of homes below $250,000 which means prices are going up in the lower price ranges.  Conversely, homes priced between $1 million and $1.5 million have a 26 month supply.  What do you think is happening to prices in that price range?  Let me get a specific buyer supply/demand number for your home?

            Rational Thought:       Residential real estate is a very local market condition better measured down to specific neighborhoods.  One neighborhood could have a different supply and demand dynamic than the entire market.  When a homeowner asks the question of supply and demand they are trying to “time” the market to maximize their investment. 

Metro Area Denver Single Family Supply and Demand for August 2010

Question 3      Is it a Good Time to Buy?

            Answer:           Prices have stabilized and interest rates are at 45 year lows.  You couldn’t have more buying power than today.  In fact with rates at 4.25% today you will typically save more than $30,000 over your ownership period if you buy today!

            Rational Thought:       A buyer buying today has tremendous buying power.  If you take a $300,000 mortgage at 4.25%, the PI payment is $1,471 per month.  If the rate were to increase to 6.25% in 2011, which is still considered a historically low interest rate, the PI payment is $1,838 per month or $367 more dollars!  If the average person lives in their home 7 years, that extra amount would equal $30,828 more money in payments over the life of living in the home.  What could a homeowner do with an extra $30K+ in their pocket?  They could save it, pay down principal, or invest in other instruments.

Question 4      What’s a Short Sale?

            Answer:           This will be home sale that will sell for less than the mortgage amounts owed against the property.   This can help the homeowner sell when they are distressed vs. waiting for a foreclosure.  The shorter the marketing period or smaller reduction in value helps maintain higher property values in the neighborhood vs. a foreclosure and eliminates a vacant property on the street.   Although nobody wants to see someone be financially distressed, if a homeowner has a legitimate hardship, this is an avenue banks and sellers of properties are using to solve the problem of not be able to pay the mortgage.

            Rational Thought:       Short sales do help homeowners get out from the large payment with dignity.  Although the homeowner could be responsible for the deficiency of money not paid, this amount typically is smaller than if a foreclosure occurred.   Short sales help the lien holders garner some dollars now vs. trying to secure money via foreclosure, which takes time.  Short sales help other homeowners in the neighborhood because the values do not drop as much.  Many banks have figured the loss is less on a short sale than a foreclosure, so the lending institutions have gotten better systems to accept short sales.

Question 5      How do I best protect my investment dollars in my home?

            Answer:           Part of my role as your real estate professional is to help you improve the equity in your home.  There are several ways to create a stronger equity position and we can create a personalized Real Estate Financial Plan that I am versed in to help you better improve the equity of your home. 

            Rational Thought:       Equity in future home ownership will be successfully achieved by positively altering the principal payments of a loan, not just waiting for appreciation to occur.   Prepaying an equal principal amount per month reduces a 30 year amortized loan by more than half the time.  By adding just one full payment per year to prepay the principal each year will reduce a 30 year loan to 22.4 months.  Of course utilizing a 15 year amortized loan achieves a similar type of savings to the homeowner.  Paying principal not interest is the secret to achieve higher equity positions.  Equity gives the homeowner lots of options for the future.

What should sellers do in today’s market?

• Consider Alternative financing methods if you have a property valued above $500,000.   Seek the advice of a professional to describe your options.
• Position the pricing strategy of your home so it becomes attractive to buyers.
• Have the best conditioned property on the market.

What should buyers do in today’s market?

• Lock your interest rate in to a low rate now if you plan on closing within 45 days.  Buyers should not have an extra fee to lock the rate.
• There are different financing packages.  Pick the one that gives you the best way to increase your equity position, like a 15 year mortgage or flexible prepay principal type loans.
• Know what the neighborhood supply and demand is to make an informed buying decision.

All real estate data taken from Metrolist, Inc, on July 5-7, 2010.  Denver, Colorado.

 “Why Should I Buy or Sell Real Estate in July?”

 Market Reason 1:         Low Interest Rates Attract Buyers!

 Your buying power today is very strong with interest rates at 40 year lows, with rates in the 4.5% range for 30 year fixed conforming loans.  A principal and interest loan of $300,000 at 4.5% interest rate has a payment of $1514 per month.  If the same rate were at 6.5%, which is a good prediction for one year from now, the payment would increase to $1886 per month or $372 more times 12 = $4,464 extra dollars in payment.  Since the average buyer lives in their home 7 years the total savings in payment for buying today is $31,248 over the life of living in the home.  What would you do with $31,248 dollars?

 A Seller’s position of selling in the lower price ranges is good today.  If you own a home between $250,000 and $500,000 the monthly supply of homes in your price range is 7.7 months supply of homes with an absorption rate of 933 homes per month.  Homes that show well and are priced at the entry level for comparable prices in your area are selling. 

 Market Reason 2:         Upper Price Range Inventories are slightly decreasing.

 It’s a good time for buyers who are going to buy any property above $500,000 as the inventory dictates you can make a good purchase at below building costs.  The monthly supply of homes between $500,000 and $2,000,000 is 21.68 months with an absorption rate of 188 homes per month.  The odds of selling a property priced between $500,000 and $2,000,000 over the next three months is 13.84%.   This puts the buyer in the driver seat when negotiating on a property.

A seller needing to sell in this price can sell by the fact 6 homes per day are selling in Denver between $500,000 and $2,000,000.  Seller’s that have homes that are in move-in condition and priced appropriately will sell.

 Market Reason 3:         Terms will drive the market for the balance of 2010. 

 Buyers can create terms not normally found in the marketplace.  Every purchase has three components to the transaction. 1. Price 2.Terms and 3.Time.  Knowing how to negotiate all three components makes for a “Perfect Storm” for buyers getting not only a good price, but terms that will not be available in future markets.

 A seller knowing the buyers, especially in upper price ranges, has the upper hand.  Learn to position the terms of your home based upon buyer needs.  For example, in lower price ranges, prepay 2 years of HOA dues, as payment for First Time Home Buyers is the most important buying decision.  In upper price ranges, buy down the rate from a current jumbo rate of 5.5% to 2.5%.   When you supply an interest rate of 2.5% on 1,000,000 loan amount the payment is $3,943 per month for the first year.  This term will cost the seller money, but less than dropping the price every two weeks.

 What should sellers do in today’s market?

Be the entry price point or offer extraordinary terms to attract buyers.

• Consider alternative financing methods of utilizing your current loan to help a buyer buy that may not have the qualifications to do under today’s lending guidelines.  Seek the advice of a professional to describe your options.
• Make your home stand out from the competition.

What should buyers do in today’s market?

• Leverage your buying power with the low rates.
• Financing Terms could make an offer very attractive for you.
• Get Pre-Approved to Buy like a Cash Buyer.

All real estate data taken from Metrolist, Inc, on June 7, 2010.  Denver, Colorado.

“Five Reasons to Sell and Buy a Home in June of 2010!”

 REASON Number One!   The buyer competition is lower than in earlier spring months, which benefits buyers.  Sellers have an opportunity to capture the buyers with creative terms.  Buyers will not compete with as many buyers as the previous month giving them a better negotiating position.  This looks to be a short term opportunity for buyers, as we would project more buyers entering the market as rates rise.

 The tax credit pushed the buyer pool into buying in March and April and the lack of properties currently under contract in one month decreased by 2001 units.  This means that the pace of buyers buying has slowed down giving a buyer the buying opportunity in June 2010.  Each price range and location offers different data, but if you are a buyer today you have fewer buyers as competition this month.

 REASON Number Two:      Interest rates hit historical lows in June in the mid 4.5% range for a conforming loan rate.  The buying power is off the charts for a buyer to really maximize their housing investment.  A $300,000 loan at 4.5% = $1514 dollars principle and interest per month.  That same $300,000 at 7% = $1984 dollars principle and interest per month or $470 dollars more payment per month or $5640 dollars per year more.  The average person lives in their home 5-7 years meaning the savings in payments over 7 years would be $39,480!  Although rates are expected to rise slowly through 2010, we suggest buying now to lock in historically low rates and avoid the rush of buyers who enter the market when rates to start to rise.  Is it worth it to you to save thousands of dollars in payments when you buy today?

REASON Number Three:    Sellers in entry level single family price ranges which is below $350,000, can position their home against fewer properties this year than previous years.  The tax credit absorbed quite a few entry level properties making for a unique “Move Up” opportunity for sellers.  Sell at close to list price on the entry level home and become a buyer in the upper price range and look for a discount.   The absorption rate for a single family home priced in Denver from zero to $500,000 is 5.1 months supply.   This makes the lower priced range homes a sellers market.  Conversely properties from $750K to 1 million and above have an absorption rate of 30 months with 2250 homes on the market and an annualize number of sold single family homes above $750K to be a projected 892 homes.  This upper end phenomenon creates a buyers opportunity not normally seen in the last 50 years.

 REASON Number Four:     The last time the Denver market had 3 consecutive months of sold data that exceeded the previous year was 2005.

 Historically, 3 straight months of increased sold data would signal the market is on an upswing.  Since the Tax Credit artificially increased sales in April, watching this data over the next 3 months will be good indicators if Denver is on the rebound for appreciation or if we are still bouncing along the bottom of the market.  Either way, buying now assures you of buying at the bottom of the market.

REASON Number Five:       Denver is considered by numerous experts as the city that will out perform the national market in job growth and job stability for the next several years.  When there is a pool of jobs, people move to the city with the jobs.  When people move to a town it will lower inventory and when inventory reduces, prices go up.  There are three parts to a buyer making a buying decision:  1. Average Price.  2.  Interest Rates and 3. Job Stability.  When all three are aligned in favor of the buyer, like June of 2010 is, properties start to move and appreciation occurs.

CONCLUSIONS:

 Why Should You Considering Selling and Buying in June 2010? 

• Excellent Opportunity to Buy an Appreciable Asset at the lowest prices in years.
• Low Interest Rates Make Your Buying Power Exceptional.
• Building Costs are low for those who want to build their dream home.
• Sellers are more realistic to the market conditions and their Odds of Selling.
• The future of real estate will continue to be a solid investment and buying at the lower end of the market is Smart.  Do you wish you would have bought more real estate in 1988?  Don’t wish the same thing in 2028 about 2010.

 What should sellers do in today’s market?

 Only put your home on the market if you understand the Odds of Selling and Positioning Your Home where buyers are buying.

• Become a motivated seller by offering attractive terms to buyers
• Make your home a STAR Home!  Shows Terrific And Realistically positioned.

What should buyers do in today’s market?

              Leverage your buying power with the low rates.

               Financing Terms could make an offer very attractive for you.

              Get Pre-Approved to Buy like a Cash Buyer.

All real estate data taken from Metrolist, Inc, on May 5, 2010.  Denver, Colorado. 

“Did the Tax Credit Work to Increase Real Estate Sales?” 

STAT ONE:    Properties that are currently Under Contract are at a 5 year high.

April properties under contract on April 5^th was 7484 and May 5^th was 8592 or a gain of 1,108 units in 30 days.  There has not been an 1100+ gain in properties under contract in one month since we started tracking data.  Did the Tax Credit ramp up buyers to buy?  The figures do not lie, YES. 

STAT TWO:   More properties closed in April of 2010 than the previous two years in April.  Sold data is a trailing indicator of a market turning around and Denver has now had two month in a row of beating the previous year.  Did the Tax Credit create more sales in the Spring of 2010.  

The Denver Market should see increases in sold data for the next several months over the previous years.  The increase in buyers pushed sales to higher levels than we have seen for several years.  Prices are rising in the Denver, specifically the price range from zero to $300,000 is seeing ½% to 1% increase per month for the first four months of 2010.  Has the Tax Credit made a significant impact on these numbers?  Yes! 

STAT THREE:           Inventories in the Denver Metro area are at historical low levels.  Usually single family and condo inventories grow in the spring of each year.  That is not happening in 2010.  With lower inventory prices will rise. 

Inventory varies in price ranges.  For example there are currently 6035 single family and condos on the market between zero and $250,000 as of May 5, 2010.    There have been 5500 closed units from January 1, thru April 30^th   for the same price point.  If we annualize the sold number, the yearly number of sales would be 21,153 in the price range zero to $250,000, which leaves a 3.42 month supply.  This is considered very low inventory and prices will continue to rise. 

Conversely, there are 1376 single family and condos above 1 million dollars on the market today.  There have been 129 single family and condos close in the first 4 months of 2010.  When annualizing that number the number of million dollar properties would be 496 closed units or a 33.29 month supply of homes.  Even though upper price range homes are selling better than 2009, the amount of inventory above 1 million will hold prices to lower levels.  Did the Tax Credit for Move-up Buyer create a new buyer pool?  No.  It does not appear by the numbers that the $6500 dollar tax credit for existing homeowners made any dent in the upper end market.

 STAT FOUR: In March of 2010, 48.2% of all homes sold were to First Time Home Buyers.  This is the highest recorded number of first time buyers and April’s figures will more than likely exceed that record.  The Tax Credit did bring an abnormal amount of buyers into the market. 

Current Homeowner purchasers made up 33.5% of the buyers in the market and the balance of buyers were investors who made up 18.3% of the marketplace in March.

 The Tax Credit did create more buyers in March and April then the market would normally have seen. 

STAT FIVE:   Real Estate Companies had record showings for the month of April, 2010.  

Total Company Daily Average

Week One 452 Daily Average

Week Two 434 Daily Average

Week Three 435 Daily Average

Week Four 416  Daily Average

Week Five   357 Daily Average

Total for Month 12129 showing on 1693 listings

 These showing levels are higher than most summer months!  A normal spring month would have 8000 to 9000 showing on 1700 listings.  There were definitely more buyers in the market in April than previous months.

 CONCLUSIONS:

 What does this mean for the balance of the 2010 Denver Real Estate Market?  The Tax credit created an artificial crunch on real estate, especially in the lower price ranges.  The number of available buyers pushed their buying decision earlier than seasonal trends would suggest and although closing for May and June will exceed previous years, the true litmus test on the solidity of the real estate market will be based on what happenings to showing the next two months and the number of sales in June, July and August. 

Interest rates, at historical lows will creep up later in 2010 causing some buyers to potential not make a buying decision or asking sellers to compensate the increased monthly payment with either points or less of a price.  For example, a 5% PI payment on a $250,000 loan amount is $1,336 dollars per month.  At 6% that payment goes to $1491 or $155 dollar higher house payment.  Interest rates do alter the ability for buyers to buy.

Even though the Tax Credit has subsided, the obvious observation would be to suggest that the market will slow down, even with low interest rates.  However, as rates start to rise, watch for another wave of buyers wanting to enter the market so they do not miss the window of opportunity.

 2010 has been a year of the start of the recovery.  There is no question the Tax Credit created an artificial growth that is now over, but Denver will definitely outperform previous years in the number of homes closed, which will hold the inventory lower helping prices to rise.  It’s a good time to be buying. 

What should sellers do in today’s market?

 Consider an Extension of the Tax Credit on your home by offering $8,000 worth of points or concessions.

• Change the dynamics of the inventory in your price range by entering the market as the first home in your neighborhood on the pricing ladder.
• Be the best conditioned property in all price ranges.  Foreclosed properties will be priced better, but will never be in better condition. 

 What should buyers do in today’s market?

 Enter the market now while rates are ridiculously low.

• Ask for seller concession in upper price ranges to make the transaction more attractive to you.
• When buying a foreclosed property ask your real estate professional about the FHA Rehabilitation Loan program

If you’re delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much?

Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact different foreclosure types of mortgage delinquencies have on scores.

Here are the average hit your credit will take:

30 days late: 40 – 110 points

90 days late: 70 – 135 points

Foreclosure, short sale or deed-in-lieu: 85 – 160

Bankruptcy: 130 – 240

To come to these figures, Fair Isaac created two hypothetical consumers, one who starts out with a fair-to-middling score of 680 and the other with a very good one of 780. (FICO scores range from 300 to 850.)

The hypothetical person with the 780 FICO has 10 credit accounts versus six for the 580, plus a longer credit history, lower utilization of total credit limit and no missed payments on any account. The other consumer has two slightly damaged accounts. Neither have any accounts in collection or adverse public records.

“The lending industry tends to regard an account differently when it has become 90 or more days late,” he said, “The likelihood that consumers will resume paying their overdue obligations drops off significantly after the delinquencies have reached 90 days.”

One reason credit companies were so closed-mouthed is that they often can’t definitively state how much each delinquencies will affect scores because there are too many variables.

Some borrowers will fall much more steeply than others for the same payment problem, according to Maxine Sweet, vice president for public education at Experian, one of the nation’s main credit bureaus.

“If you picture someone who has just one mortgage and one other credit account versus a mature credit user like me with 15 accounts, if they miss one payment that would impact their scores a lot more,” she said. “For me, one missed payment would just be a blip.”

The point loss also depends on the borrower’s starting point: People with very high credit scores have more to lose than low-score borrowers; the impact of a single blemish on an 800 score is more than on a 500.

Mortgage borrowers can lose their homes three basic ways: a foreclosure; a short sale, where the home is sold for less than is owed and the bank (generally) forgives the difference; or a deed-in-lieu, in which the borrower gives back the property and the bank again forgives any unpaid balance.

Sweet said credit bureaus generally slash scores equally for those three resolutions to someone losing their home. The important factor, she said, is that “it’s reported that you paid less on a settled account.”

Some borrowers may think that because they never missed a payment, they can “walk away” from their homes with relatively little impact on scores. Not true. “When a deed-in-lieu or short sale is reported as a partial payment, it’s treated as a serious delinquency,” Watts said, “just like a foreclosure.”

Even if borrowers made payments faithfully for years before short selling or doing a deed-in-lieu, their credit score will still take a hit. The total decline will run about 85 points for the 680 score borrower to as much as 160 for the 780 score.

Mortgage debt, combined with other financial problems, can send borrowers into bankruptcy, the worst thing that can happen to your credit score.

The effects are long-lasting, according to Sweet. In a Chapter 13 bankruptcy, which involves partial repayment over several years, the stain will take seven years to remove. A Chapter 7 bankruptcy, which involves liquidation, takes 10 years to get over.

Absorbing a big credit-score hit can make many transactions more costly. It’s not just paying more for credit card debt and auto loans, insurance can cost more as well.

The average savings for someone with a good versus mediocre credit score is about $115 a year for auto insurance and $60 for home, according to Loretta Sorters, of the Insurance Information Institute.

A low credit score can even make it harder to rent a home because landlords often use credit scores to weed out prospective renters.

Despite the problems a poor credit score can cause, Experian’s Sweet recommends that people who are in financial dead ends, like totally unaffordable mortgages, it’s better to recognize that and cut your losses quickly; don’t prolong the problem.

“You need to do what you need to do to get your finances back in order,” she said. “Don’t worry about your credit score.” 

Source ; Steve Sprinkle, Colorado Professionals Mortgage

All real estate data taken from Metrolist, Inc, on April 5, 2010.  Denver, Colorado.

“When do you know when the real estate market has hit bottom?”

 FACT ONE:  The housing inventory for single family and condominiums remains low. 

Single Family vs. Condominium inventory shows some interesting statistics this month.  Single family homes decreased 22.9% from 2006 to 2010.  In looking at the condominium reduction of inventory, condo’s decreased 33.6% from 2006 to today.  Condos will be the next product type to start to see an appreciable gain in 2010 because of this decrease or lack of inventory available to buyers.

Single Family Inventory above $1 million for April of each year is decreasing but if you look at 2006 to 2010 there has been an increase of total inventory.  Comparing the upper end market with the entire market inventory shows that the luxury market is still over burdened with inventory.

To predict the future of the upper end market compared to the balance of the inventory below $1 million dollars, let’s compare months supply.  For properties below $1 million there are 14,886 single family homes on the market as of April 5, 2010.  For the first three months of 2010 there has been 6188 single family homes closed in metro Denver.  The annualized number of sold properties based upon the first quarter would be 34,377 total single family homes closed in 2010 below 1 million.  This relates to a 5.196 month supply of homes below 1 million, which would indicate a sellers market.  Granted a good portion of that sold data is below $300,000 but taking the overall number does indicate the market has hit bottom below 1 million in Denver and although the properties priced from $300,000 to 1 million will move slower, this price range is starting to see activity from the move up buyers.

Conversely, the above $1 million inventory shows 1126 homes on the market as of today and for the first three months there has been 78 homes close above $1 million or an annualized number predicted to be 433.  If we take the 433 annualized sold single family homes divided into 1126 active single family home inventory = a factor of 2.6 X 12 = 31.2 months of absorption time for properties above 1 million.  

Fact Number One does give us a pretty good indication that properties in Denver above $300,000 will start to sell at a better rate than we have seen the last three years.  That means prices will go up as inventory continues to remain low.

FACT TWO:  Properties being placed Under Contract are rising faster than previous years.

The increase of Under Contract properties from March to April is 910 units.  That is the largest April over March increase in 5 years.  Under contract properties typically are the leading indicator for future markets.  This number could be inflated by the 2010 $8000 Tax Credit provided to First Time Home Buyers and the $6500 Tax Credit for Move Up Buyers.  In trending this number over the next 6 months will give us a very good picture of late summer early fall closings.  The fact is today that more buyers are under contract today than any April in recent history.

FACT THREE:  2010 March out performed 2009 for a Year over Year monthly increase of Sold Properties.  This is the second month in the last six months where this year has outperformed the previous year.  When this trend repeats itself for three consecutive months in a row, we have past the bottom.

Sold data is a lagging indicator of the market as it displays what truly is happening at the moment.  The YTD sold data is still down compared to previous years and March could be an abnormality, but this should be a trend to watch this spring into the fall to get a good prediction of where the Denver market is heading.

Here’s the YTD sold data for single family and condominiums from January 1,  to April 1, of each year.

Finally the sold data increase from February of 2010 to March 2010 increased 1084 units.  A typical increase from February to March would be 671 units.  This abnormal increase is a number we want to track to see if we are seeing a trend to count on. 

FACT FOUR:  2010 offers an opportunity of a lifetime called, “The Upside Market”. 

An “Upside Market” is a market that the sellers of one price range can sell for top dollar and within the same market demographics buy a property at a discount of greater than 10%.  This phenomena only happens once in a generation and those sellers who have the ability to move up in the Denver market are experiencing a wealth shift in real estate not seen since 1983.  Although some sub markets provide more savings than others, the overall opportunity for a seller selling below $300,000 to get top dollar is good and to buy a product at $750,000 and get a 10% or greater price reduction is very feasible.  With interest rates allowing consumers to taking advantage of the “Upside”, this is the best time to buy in a generation.