Joe Hubert of Land Title Guarantee Fame Is Back with the Denver Market Scoop

Posted on November 5, 2013 by Dee & Tom Cryer
Super Joe Hubert

Super Joe Hubert

Hi Tom,

Many things to be thankful for this month as Thanksgiving is just a few weeks away.  Last month was the best October on record for Denver-area home sales and housing prices according to reports released. The numbers continue to show that Colorado is growing and flourishing. Our state has become a top market in the United States for many commercial, residential and building projects.

Land Title is extremely thankful for the relationships we have built this past year and being a part of the many real estate transactions across the state of Colorado. We thank you for your business and support of Land Title.

Sincerely,

Joe

October – 2013 Real Estate Market Stats

Entire MLS (All Areas)

Residential Highlights:

  • 10.8% increase in the number of closed sales year-over-year
  • 19.3% increase in the number of closed sales year to date
  • 31.3% decrease in average days on market (46 days in October)
  • .2% increase in # of active listings
  • 11.0% increase in # of new listings (4073 new listings in October)
  • 9.2% increase in average price – sold ($332,184 in October)

Condo Highlights:

  • 21.3% increase in number of closed sales year-over-year
  • 26.2% increase in number of closed sales year to date
  • 39.3% decrease in average days on market (37 days in October)
  • .1% increase in # of active listings
  • 21.8% increase in # of new listings (1079 new listings in October)
  • 13.9% increase in average price – sold ($204,808 in October)

Click here for Full report of entire MLS

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Colorado, Denver, Denver Housing, Denver Market Watch, Denver Residential Real Estate, Greenwood Village | 1 Comment

Kentwood Real Estate – Denver Market Watch News – October 2013

Posted on October 18, 2013 by Dee & Tom Cryer

The Denver-area housing market has been on a tear.

Denver Panorama Fall 2013

Denver Panorama Fall 2013

The market recently wrapped up three quarters of record-breaking housing activity. By a number of metrics, the Denver housing market has surpassed where it was during the same time a year ago; it has even topped where it was during the go-go housing boom days of 2005 and 2006, a distinction only one other city, Dallas, can claim.

While housing markets in cities such as Phoenix and Las Vegas, were crushed during the Great Recession, recently they have been showing year-over-year appreciation north of 20 percent — roughly twice Denver’s appreciation.

Yet, those cities have not yet returned to where they were when they peaked seven or eight years ago.

By the numbers, here is a snapshot of some records set in Denver:

In the first nine months of the year, there have been 56,063 homes placed under on the market – 25 percent more than during the same period in 2012, 42 percent higher than in 2011 and 6.2 percent higher than in 2006.

Year-to-date, 42,370 homes have sold and closed – 20.2 percent more than during the same time last year, 41.6 percent higher in 2011, and 10.3 percent higher than in 2006.

MyTownCryer Denver Real EstateThe average sales price of a single-family home in the first nine months was $333,508 – 10.1 percent higher than during the same period in 2012, 18.4 percent more than in 2011 and 4.7 percent higher than in 2006.

The median, or middle, sales price was $278,000, 11.2 percent higher than in 2012, 20.9 percent higher than in 2011 and 11.2 percent higher than in 2006.

However, perhaps the most staggering record number in the first three quarters of 2012 was the total dollar volume in sales. Year-to-date, buyers have purchased $13 billion in homes, 33.4 percent more than in the first nine months of 2012, 64 percent more than in 2011 and 14 percent more than in 2006.

Despite the increase in prices, homes also sold at a faster clip than ever.

Homes spent an average of 51 days on the market in the first three quarters – a 36.4 percent drop from 2012, a 52 percent drop from 2011 and 46.3 percent faster than in 2006. Can this torrid pace last? Certainly, the market is facing a lot of headwinds, from the government shutdown to unrest in the Middle East.  But owning a home is a long-term proposition with most people. Historically, most people have owned their homes for seven years, although many people buying today plan to stay put for an average of 10 years, according to some estimates.

102511_1725_DenversPosi1.jpgThese numbers show that buying a Denver home has been a good deal in the short-term and the long-term, even when the market had weathered the worst housing crisis in memory.

You can’t really ask much more from a housing market.

Residential Market Data
September 2013 This Month Prior Month Year Ago
Active 8,635 8,787 8,700
Under Contract 4,177 4,981 3,548
Sold 3,714 4,386 3,147
Average Sold Price 331,382 345,487 306,633
Monthly Supply 2.32 2 2.76
Condominium Market Data 
September 2013 This Month Prior Month Year Ago
Active 1,713 1,800 1,770
Under Contract 1,160 1,372 909
Sold 1,016 1,249 802
Average Sold Price 208,364 196,292 186,843
Monthly Supply 1.69 1.44 2.21
*Based on information from Metrolist, Inc. for the Denver housing market for the period 9/1/13 to 9/30/13. This representation is based in whole or in part on content supplied by Metrolist, Inc.

To find more information, photos, and current real estate market data for popular cities across the Denver Metropolitan Area, please visit our Metro City Info page on DenverRealEstate.com

Denver Market Watch

Denver Market Watch

Market Movers

  • There were more under contracts written last month in Denver than any September in history.
    Read more >>
  • The Denver area could enjoy record home sales this year, predicts respected economist Patty Silverstein.
    Read more >>
  • Permits for new housing permits in the Denver area rose by 28%, but builders can’t build homes fast enough to meet the expected demand from flood victims.
    Read more >>
  • Ravenna in Douglas County has emerged from bankruptcy and hopes to take advantage of a strong luxury housing market.
    Read more >>

← Back

Thank you for your response. ✨

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | 1 Comment

SoBro, It’s Happening in South Central Denver!

Posted on October 14, 2013 by Dee & Tom Cryer
South Broadway Street Scene

South Broadway Street Scenes

Once the “redheaded step child”, South Broadway (SoBro) in South Central Denver offer a little bit of everything for everyone.  Forget the images of the past.  The ribbon of commercial malaise is quickly being replaced with a fresh new look.  Easy pedestrian access on wide new sidewalks with a boulevard of landscaped center medians completely breaks up the once monotonous drive of SoBro from I-25 to Old Town Englewood.

Sure, your cannabis stores are still prolific along the way, and car lots still sprinkle the drive, but now for many blocks on either side of SoBro affordable homes with all the comforts of the “burbs” are offered.  For instance, just a few blocks southeast of Broadway on E. Iliff is the recreation of Harvard Gulch (Golf, Swimming, Exercise), Rosedale Park (with is fabulous public garden) and Sherman & Vassar Parks.  The University of Denver, Porter Hospital and Light Rail (Fast Tracks) access are just moments away.

Denver 1920's Bungalow

Denver 1920’s Bungalow

Conveniently located between the University of Denver and Old Englewood there is a mix of everything from Mid-Century Modern to Bungalows to Cape Cod to the now infill Hybrids of new construction.  And, the gentrification continues on almost every block in between.

Illegal Petes S. Broadway

Illegal Petes S. Broadway

But, the big news is SoBro!  Forgotten  and newly constructed commercial buildings along Broadway are becoming the incubator for an entire new generation of fun new eateries.  Billy’s Gourmet Hot Dogs, The Copper Pot, Illegal Pete’s and more.

You owe it to yourself to consider SoBro in your home search!
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Posted in Buying or Selling Real Estate, Denver, Denver Housing, Denver Residential Real Estate | 1 Comment

Denver Regional Council of Governments – DRCOG MetroVision2040 CAC

Posted on October 3, 2013 by Dee & Tom Cryer
Denver Panorama Fall 2013

Denver Panorama Fall 2013

Hello Everyone,

I currently serve on DRCOG’s Metro Vision Citizens Advisory Committee (CAC).  It is a volunteer group of citizens and business leaders focused on MetroVision2040.  In other words, what can we do for our great Metropolitan area today, which will impact it positively in the year 2040?  We want Denver to be the cream of the crop in 2040.

One of the areas identified as a focal point is Parks and Open Space.  If you would be kind enough and concerned enough to answer three easy questions on this subject, you could be making an impact for all of our futures.

This is the link to the Parks and Open Space Survey: https://www.surveymonkey.com/s/Y7KZVC2

Attached is the link to the Metro Vision Overview: This is a great overview of what Metro Vision 2040 is and why the survey is important for us to obtain.  http://www.drcog.org/index.cfm?page=MetroVision2040

Also, if you would like me to carry a message to our committee meetings for you, please do not hesitate to let me know.

Last but not least, if you would just leave me a note telling me you completed the survey, I would appreciate it greatly.  Our leaders are seeking the most efficient and timely methods of attracting survey results.  This will help me to determine if this is an efficient way.  I am also hoping this starts some discussion among us from which I can carry to the committee leadership. 

Thank you and safe travels,

Tom Cryer

Posted in Centennial, Cherry Hills Village, Colorado, Denver, Denver Housing, Denver Renters, Denver Residential Real Estate, Denver Restaurants, Denver Resturants, Denver Transferees, Greenwood Village | Leave a comment

Denver Market Watch September, 2013

Posted on September 17, 2013 by Dee & Tom Cryer

Coors FieldGuess which part of the Denver-area housing market is showing the most strength?

If you chose the luxury market, congratulations – You are right on the money. The overall housing market is doing fine as well. In August, there were 4,386 single-family homes sold and closed in the metro area, a 17.59 percent increase from the 3,730 sold in August 2012. Not bad considering that interest rates have risen from their all-time lows by more than a full percentage point, although they remain low by historical measures.But the percentage gains for the sale of luxury homes, those priced at $1 million or more, rose by 28.6 percent in August from August 2012, according to an analysis by Kentwood Real Estate. That is a full 10 percentage points higher than the overall market! The dollar volume for seven-figure homes grew even more. The dollar volume rose by 30.9 percent for luxury homes to just under $93 million in August, compared with $71 million a year earlier. Granted, the luxury housing market is a small part of the overall market. The dollar volume accounts for about 6.1 percent of all of the single-family homes sold.

So why should the 94 percent who can’t afford to buy a million dollar home care that the upper-end of the market is booming? First, luxury home buyers tend to represent the so-called “smart money.” Often, these are the people who see value when others do not, whether they are snapping up stocks, commercial real estate, or houses. Bargain hunting among the well-off was certainly a driving force earlier in the year. In many hot, high-end neighborhoods, however, the demand far outstrips the supply, driving up prices.

Yet, the luxury housing rally has continued, even as the prices of high-end houses have risen. Year-to-date, well-heeled buyers paid $731.4 million for luxury homes, a 41.7 percent jump from $516 million in the first eight months of 2012, according to Kentwood.

Finally, when someone spends a million or more on a dream home, it is a safe bet the spending doesn’t stop with the mortgage payment. After they sign on the dotted line, buyers will continue to open their check books to truly make the home theirs, often gutting the home and filling it with new furniture and appliances. And you know they are not shopping at thrift stores. That kind of spending is good for the economy and helps creates jobs for those who can’t write a seven-figure check.

In other words, you may not be able to afford your 7-figure dream home, but it is a good thing that people who can are taking the plunge.
Residential Market Data
August 2013 This Month Prior Month Year Ago
Active 8,787 8,286 9,060
Under Contract 4,981 5,752 4,191
Sold 4,386 4,857 3,730
Average Sold Price 345,487 346,254 311,893
Monthly Supply 2 1.71 2.43
Condominium Market Data
August 2013 This Month Prior Month Year Ago
Active 1,800 1,739 1,766
Under Contract 1,372 1,654 1,005
Sold 1,249 1,247 955
Average Sold Price 196,292 203,794 183,359
Monthly Supply 1.44 1.39 1.85
*Based on information from Metrolist, Inc. for the Denver housing market for the period 8/1/13 to 8/31/13. This representation is based in whole or in part on content supplied by Metrolist, Inc.

To find more information, photos, and current real estate market data for popular cities across the Denver Metropolitan Area, please visit our Metro City Info page on DenverRealEstate.com

Market Movers

  • Home sales were up more than 20 percent in August from August 2012, shows the latest report from Metrolist. In fact, it was the best August on record by several metrics.
    Read more >>
  • Lower Highland, or LoHi, is welcoming a dozen new additions to the hot neighborhood. Look for LoHi Place Townhomes to open in about a year.
    Read more >> 
  • Good news for the Denver-housing market. Home prices in Denver are at an all-time high according to the closely followed Case-Shiller report. Only Denver and Dallas homes prices are now higher than they were before the Great Recession.
    Read more >>
  • Builders in the Denver area are constructing a lot of townhomes to meet demand from buyers. Building activity for townhomes is outstripping activity for single-family, detached homes, in fact.
    Read more >>
Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Colorado, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | 1 Comment

Golf Villas at Vallagio – The Resort Collection

Posted on August 12, 2013 by Dee & Tom Cryer

New Home Inventory Coming to Inverness Country Club Neighborhood!

After a lengthy hiatus from new home construction at Vallagio, it has just been announced by Deborah Green, Sales Director at Vallagio, construction has commenced!

Click Here for a Brochure: Vallagio Resort Collection by Metropolitan Homes

OPENING, WEDNESDAY, AUGUST 14, 2013.  11:00 am

 

Vallagio Resort Collection by Metropolitan Homes_Page_04

Vallagio Resort Collection by Metropolitan Homes

“Thank you for your patience in waiting for information on our new Golf Villas at Vallagio.  Metropolitan Homes is privileged to introduce The Resort Collection, located on holes 1 and 2 of the Inverness Golf Course.   The collection will feature ONLY 36 low maintenence ranch and main floor master floorplans from 2800 square feet to over 4700 square feet.  Every spacious villa will back to the beautiful Inverness Golf Course.  Where in the Denver Metro Area can you find low maintenance living in a location that offers accessibility to everything!. And, with a neighbor like the Inverness Hotel and Spa, it’s easy to take advantage of great dining and recreation. 

In your attached brochure, we have provided floorplans, standard features, elevation designs, and a community site map of all buildings.  As promised, you are receiving this information in advance of opening and implementing our Vallagio marketing campaign. 

On Wednesday, August 14th we will be opening for Sales with 4 buildings released.  They will be buildings 1, 2, 11, and 12. 

Buildings 11, and 12 are new designs from 2800 square feet to just over 3000 square feet.  These homes will be priced from $655,000 to $690,000.

These homes will be under construction beginning the end of August with delivery next spring. 

In the attached brochure, buildings 1 and 2 are plans that offer 3400 square feet to over 4700 square feet.  These homes will be priced from $825,000 to $1,130,000.  These stunning homes are models and available to view beginning on Wednesday. 

KEY FEATURES TO ALL HOMES

  3 car garage

  Walk out fairway level finish with 9-10′ ceilings

  Majority of designs are ranch homes

  High level of included features

  All homes back to the Inverness Golf Course

  Volume ceilings 10-22′

  Grand kitchens with oversized islands

  Large windows

  Expansive out living areas

LOCATION, DESIGN, VIEWS!  ONLY 36 OPPORTUNITIES TO LIVE ON THE GREEN!”

If you would like more information on this community, please don’t hesitate to contact:

Tom Cryer, SCRP

Realtor – Broker Associate

The Kentwood Company

5690 DTC Blvd. #600W

Greenwood Village, CO 80111

303.773.3399 Ext: 2991 (Office)

888-621-7157 (Toll Free)

303.638.3202 (Cell)

303.773.1203 (Fax)

Tom@DenverRealEstate.com

Posted in Buying or Selling Real Estate, Centennial, Denver, Denver Housing, Denver Residential Real Estate | Tagged , , , , , | 1 Comment

Home Ownership is a Blessing, and Your Credit Score Rules! Is the A Team on Your Side?

Posted on July 25, 2013 by Dee & Tom Cryer

HomeownershipDo you know what your credit score is?  Well, don’t you hear that question on TV, Radio or from friends almost everyday?

The Loan Process is something you don’t need to fear.  It is a process you should look squarely in the eye.  Take it on with no self doubt.  Master your inner credit strength.

The link to the loan process above and below was kindly provided by Nancy Alexander.  Your loan officer is more than a guide through the process.  A good loan officer is your teammate; vested in your success every step of the way!  An now more than ever, a good loan officer wants to see you be successful after closing too.  And, that means, there is no need to be house poor to own a home.

  • So, that brings up the point of this post.
  • Is the A Team on your side.
  • Is your Realtor working for you or the transaction?
  • Is your inspector working for you or the transaction.
  • Is your loan officer working for you or the transaction?
  • Is your Title Company insuring a safe transaction?
  • And, I’m here to tell you, a myriad of other potential pitfalls lie just around the bend.

Assemble your team of experts one at a time.  Make sure your bench can handle Game Day!  I tell my first time buyers, you signed one document to get married, but you will sign or initial 50 pages to get a loan.  Home ownership is a commitment to not be taken lightly, but at the same time, it is something you will cherish if completed properly!

Make sure you are in good hands!

The Loan Process

Posted in 2010 Mid Year Denver Market Watch, Buying or Selling Real Estate, Centennial, Colorado, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | Tagged , , , , , , , | Leave a comment

Denver Market Watch Mid-Year 2013

Posted on July 15, 2013 by Dee & Tom Cryer

Denver Market Watch Mid-Year 2013.

Posted in Uncategorized | Leave a comment

10573 Hillrose Street Parker, CO 80134

Posted on June 24, 2013 by Dee & Tom Cryer

10573 Hillrose Street Parker, CO 80134.

Posted in Uncategorized | Leave a comment

The Friendliest Man in the Title Business Is Back with May’s Report for Denver

Posted on June 10, 2013 by Dee & Tom Cryer
Super Joe Hubert

Super Joe Hubert

Thanks Joe,

You have hit on a topic that is near and dear to my heart.  Home-ownership enhances neighborhoods, improves schools, lowers crime and you are correct.  It creates a sense of civic pride when residents have “skin in the game”.  As you know, we average around 65% of households in the US are owner occupied, but did you know that in the days before WWII, home ownership fell to as low as 33% in Germany?

We hear a lot of debate about the mortgage interest deduction, but this is clearly a social program that enhances the lives of so many, how can it be considered a “loop hole” or a “tax dodge”.  Home ownership is a cornerstone of America’s economic health, and let’s face it, the home sale market is the swizzle stick in the cocktail of America’s Economy!   Thanks for your contribution this month Joe!

Hi Tom,

“Homeownership encourages personal responsibility and the values necessary for strong families. Where homeownership flourishes, neighborhoods are more stable, residents are more civic-minded, schools are better, and crime rates decline.” This was a quote from President George Bush proclamation in 2002 when he proclaimed June as National Homeownership Month.

As the housing market has become a positive note in America’s economy today especially Colorado’s economy, National Homeownership month is a great reminder of the work the real estate industry does to give Americans the opportunity of achieving the American dream of owning a home. With inventory rising, it’s a great time to remind renters the benefits of owning a home of their own.

Land Title provides the tools to help you reach new potential home buyers as well as information on how to protect their most important investment. Contact me today to find out how Land Title can help.

Here’s to making dreams happen in June!

Sincerely,

Joe

May – 2013 Real Estate Market Stats

Entire MLS (All Areas)

Residential Highlights:

  • 20.5% increase in the number of closed sales year-over-year
  • 21.2% increase in the number of closed sales year to date
  • 37.2% decrease in average days on market (49 days in May)
  • 22.6% decrease in active listings
  • 21.9% increase in new listings
  • 9.1% increase in average price – sold ($335,776 in May)

Condo Highlights:

  • 31.3% increase in number of closed sales year-over-year
  • 23.85% increase in number of closed sales year to date
  • 43.2% decrease in average days on market (46 days in May)
  • 21.7% decrease in number of active listings
  • 33% increase in number of new listings
  • 10.8% increase in average price – sold ($198,612 in May)

Click here for Full report of entire MLS

For individual MLS area reports, please scroll to the bottom of the eNewsletter.

Rate Changes

As of May 20th, some of Land Title’s rates have increased. We have updated the rate cards on our website to reflect these changes as well as our online calculator. Our residential rate calculator is available anytime at www.ltgc.com. It features selection tools reflecting the New 2013 Contract options on Who Pays for the Title Policy, Closing Costs and Owner’s Extended Coverage.

– – – – –

Inside Real Estate News

Did you know that Land Title is one of the sponsors of one of Denver’s top real estate news sites? Every day you can find breaking news occurring in the Denver real estate market.
Click here to subscribe to weekly emails.

Get a first look at the latest article on Inside Real Estate News featuring a report that Land Title’s account manager Jesse Hamilton put together on the trends in sales on condos in Downtown Denver. Click here for the article.

– – – – –

In The News
Stay on top of the pulse of the real estate market with weekly compilations of local and national news articles concerning the real estate industry.

Click here for a PDF version.

– – – – –

Topic of the Month: Are You Wildfire Ready?
Last year, almost $450 million dollars in claims were filed due to wildfires across Colorado. Many homeowners do not have a home inventory put together of their personal items in case tragedy does strike. This month’s bulletin gives some helpful hints on what you should do to prepare your household for fire season. Click here for the article.

MLS All Areas:

All Areas in one consolidated report

Aurora North – AUN

Aurora South – AUS

Brighton, Fort Lupton – BFL

Broomfield – BRM

Denver Northeast – DNE

Denver Northwest – DNW

Denver Southeast – DSE

Denver Southwest – DSW
Downtown Denver – DTD

Douglas County West – DCW

(Includes – Castle Rock, Larkspur, Sedalia, Palmer Lake, part of Littleton)

Douglas Elbert Parker – DEP
(Includes – Parker, Elizabeth, Franktown, Kiowa, Elbert, Deer Trail, Simla)

Douglas Highlands Ranch Lone Tree – DHL

(Includes – Highlands Ranch, Lone Tree)

East Suburban North – ESN

East Suburban South – ESS

Jefferson County Central – JFC

Jefferson County North – JFN

Jefferson County Northcentral – JNC

Jefferson County South – JFS

Jefferson County Southcentral – JSC

Jefferson County West – JFW

Lafayette – LAF

Mountain Clear Creek – MCC

Mountain Conifer Pine – MCP

Mountain Evergreen North – MEN

Mountain Evergreen South – MES

Mountain Gilpin County – MGC

Mountain Jefferson County – MJC

Mountain Jefferson North – MJN

Mountain Jefferson South – MJS

Mountain Park County – MPC

Mountain Park East – MPE

North Northeast Suburban – NNE

North Northwest Suburban – NNW

North Suburban Central – NSC

North Suburban East – NSE

North Suburban West – NSW

South Suburban Central – SSC

South Suburban East – SSE
Based on Information from Metrolist, Inc. for the period Jan 2009 through present. Note: This representation is based in whole or in part on data supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Data maintained by metrolist, Inc. may not reflect all real estate activity in the market.

Posted in Buying or Selling Real Estate, Centennial, Cherry Hills Village, Colorado, Denver, Denver Housing, Denver Residential Real Estate, Greenwood Village | Leave a comment