This is the time of year when many sellers traditionally pull their homes off the market, with plans to try to ink a deal when the spring selling season begins in the New Year.
After all, children are back in school, the holiday season is approaching, and cold and snow are coming, so it makes sense for seasonal reasons not to try to sell your home. However, this year might provide the best opportunity in recent history to buck the trend and list your home now, instead of waiting.
Consider these factors:
There were only 15,794 unsold homes on the market in October, the low-point of the year and almost 28 percent lower than October 2010.
The weekly sales rate of 5.62 percent in October, was almost 44 percent higher than the weekly sales rate in October 2010.
The number of contracts written in October was 3.7 percent higher than in October 2010, while closings were up 12 percent.
In other words, there is still demand for homes, but increasingly, prospective buyers can’t find their dream home because there is so little available. That provides an opportunity for well-priced homes that show well to hit the market this fall and winter. If you follow the crowd and wait until the spring to list your home, you may face a great deal of competition from like-minded consumers. That could greatly increase the number of unsold homes on the market, putting downward pressure on prices.
Also, there is no guarantee that in the spring these historically low mortgage rates hovering around 4 percent for a 30-year-fixed loan will still be in place. This is an especially good time to sell your home if you are nearing retirement age and have equity in your house.
So if you’re serious about selling your home and were waiting for the right time, that time is now.
Denver tops list as a “Cool City” for young adults looking to relocate. “This data quantifies what we have known for a long time: that Denver, particularly Downtown Denver, is a livable, vibrant community with a lot to offer people of all ages,” said Tami Door, President and CEO of the Downtown Denver.
The State’s “Blueprint” convinced Arrow Electronics to relocate its headquarters to the state, the largest company to ever move here.
To read the entire article: http://www.denverpost.com/business/ci_19269979
Luxury housing market down in October, but stable in the first 10 months of this year compared with the first 10 months of 2010.
To read the entire article: http://insiderealestatenews.com/2011/11/singleton-sells-home/
Colorado has more jobs per-capita in the solar industry than any other state in the U.S. That is why Colorado was well-represented at a large conference on the solar industry last month in Texas.
To read the entire article: http://view.exacttarget.com/?j=fe5a16777c61037f7511&m=ff02167075660d&ls=fdec1375716c037e75127573&l=fe981573756d027f77&s=fdf415757d6c057e71107975&jb=ffcf14&ju=fe3417727766067a741577
Tens of thousands of people in Colorado live in communities with HOAs, or Home Owner Associations. A non-profit group that represents HOAs wants to see those that manage these communities be regulated by the state.
To read the entire article: http://insiderealestatenews.com/2011/11/group-advocates-licensing-hoa-managers/
The Denver-area apartment market has the lowest vacancy rate since 2000. Rents also are rising at a time when mortgage rates are at historic lows, making owning a home even less expensive.
To read the entire article: http://insiderealestatenews.com/2011/11/apartment-vacancies-remain-below-5/
The HBA of Metro Denver had faced losing its headquarters building in a foreclosure action. However, a Denver investment group stepped up to the late and bought the building, leasing it back to the organization.
To read the entire article: http://insiderealestatenews.com/2011/11/hba-resolves-hq-deal/
Denver-based M.D.C. Holdings Inc., parent of Richmond American Homes, the largest builder in the Denver area, had a tough third quarter. The company has cut more than 100 jobs to reduce expenses.
To read the entire article: http://insiderealestatenews.com/2011/11/m-d-c-books-loss/
Overall, the Denver-area housing market is holding up in the first 10 months of this year, compared with the same period last year. It’s a fairly stable market compared with 2010.
To read the entire article: http://insiderealestatenews.com/2011/11/home-market-holding-up/
While the Denver-area housing market may not be as robust as some would like, it did rank No. 3 on the most recent Case-Shiller report, one of the most closely watched real estate indexes in the country.
To read the entire article: http://insiderealestatenews.com/2011/10/case-shiller-denver-no-3-2/
Four Colorado cities made the 20 healthiest housing markets, based on forecasts through 2012, projected by Moody’s Economy.com – 2. Fort Collins and Loveland; 7. Colorado Springs; 10. Denver; 20. Greeley.