Metro Denver Setting Inventory Records…..

“The number of unsold homes in metro Denver last month fell to just 8,041, which stands out as a record low for any October”, says the Denver Business Journal.

Walters and Company is offering a listing special from November 2014 through March 2015 to encourage people to get their homes on the Market. The Denver housing Market needs listings to accommodate the many Resdential Buyers and Investors that all local Realtor’s have in large numbers.

Inside Real Estate News examined Metrolist data going back to 1985, and last month was the first time the number of unsold homes during any October fell below 9,000. The previous low for the month was 9,643, in October 1992.

During October 2013, there were 10,376 homes for sale in metro Denver, or 25.5 percent more than were available last month. We are watching inventories closely, so these statistics are not surprising, but still frustrating for our Buyers.

If you are thinking of selling your home over the next 6 months we hope you will keep us in mind! We are happy to sit down with anyone thinking about a change in their Real Estate Horizon! There are so many opportunities in a market like this…..let us show you what you can do!

Denver Business Journal Reports that Denver Home Prices are…

Denver-area home-resale prices rose an average 9.1% in March from a year earlier, and also were up 1.4% from February, reaching an all-time high level, according to the latest S&P/Case-Shiller report. The Denver area’s year-over-year price gain was the same as in February, and marked the 15th straight month with a year-over-year price increase of 8.9% or more. Denver metro area home prices were up 9% year-over-year in both January and December 2013.

But while home prices in metro Denver edged down 0.1 percent between January and February, they rose a robust 1.4 percent between February and March, topping the average gain for 20 cities tracked by the closely followed Case-Shiller report series from S&P Dow Jones Indices LLC, based on non-seasonally-adjusted data.

March was the 27th consecutive month with a year-over-year gain in Denver prices, according to Case-Shiller data.

Data taken from The Denver Businss Journal May 2014

November 2013 Sales Statistics for Metro Denver

The Denver MLS has gone through a major change, in that it has a completely new operating system call The Matrix. The Matrix offers us the ability to share the keys with our clients to the same system we use for searching properties. While the system is so comprehensive it is still struggling to grasp all the historical data from the old system. During this transition, the market data that we share on a monthly basis is harder to get our hands on. Beginning in January they should be completely transitioned and operating at full speed.

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Here is your November Housing Data:

*Residential Highlights:

  • 23% increase in the number of closed sales year to date
  • 22% decrease in average days on market (48 days in November)
  • 54% decrease in # of active listings
  • 51% decrease in months of inventory available (2 months in November)
  • 9% increase in average price – sold ($333,992)

Attached Single Family (Condo and Townhome) Highlights:

  • 11% increase in number of closed sales year-over-year
  • 10% increase in number of closed sales year to date
  • 25% decrease in average days on market (43 days in November)
  • 56% decrease in # of active listings
  • 61% decrease in months of inventory available (2 months in November)

5% increase in average price – sold ($204,044 in November)

*data gathered with help from Land Title

 

The Walters Investment Group wishes you a great day!

Please call/email/text anytime 303-908-2330/303-907-1984

Top Ten List for Selling in the Winter Months….

When considering the “Right” time to sell your home please take a moment to consider the Winter Months…..the advantages are real and often overlooked. Take a look at our list and let us know what you think!

Top 10 Reasons to sell your Property Now!
Top 10 Reasons to sell your Property Now!
  1. Your Realtor usually has less clients to work for, therefore he/she can deliver a more specialized service to you.
  2. January is traditionally one of the biggest moving months of the year.
  3. Corporations like to move their employees during the first months of the year.
  4. Interest Rates are still low..we are still looking at 40 year lows but, they are on the rise.
  5. Buyers looking now are very serious
  6. By selling your home during the winter you may have the opportunity of being the “first dibs” house of the Spring market.
  7. Less Selling Competition- Enough Said.
  8. Selling now could set you up to be a non-contingent buyer in the spring. This makes your offers very attractive; you will be ready to Pounce on your Dream Home.
  9. With the new normal of house buying starting with an Internet Search, your property looks just as good now as it will in the spring or fall.
  10. About 20% of all home sales take place between November-February. Sellers and Buyers are motivated to get the deal done during these months.

We hope you find this helpful~ if we can help you or anyone else with any Real Estate questions please email/text/call us anytime!

Wishing you a great day!

America is getting back to work………

The jobs report this morning was good. The unemployment rate continues to drop. Today’s report put the current rate at 7%, much less than the 7.2% forecasted. What does this mean for your real estate investments? It means interest rates are very likely to continue to inch higher. In early trading, we are already seeing the yield on the 10-year Treasury testing the September highs near 3%. While we don’t expect mortgage rates to go straight up, they are less and less likely to return to the historic lows that we saw earlier this year. The signs of economic improvement are indisputable. We have already seen signs that the real estate market has stabilized and is improving in communities all over the country. While interest rates are rising, they are still at historic lows.  If you have been thinking about buying a home or investing in real estate, give us a call today and let us help you capitalize on the changing economic environment.

To Buy or Not to Buy in the last Quarter of 2013

Have you been pondering the purchase of a new home? We are thinking that the positives for buying now are stacking up…Rates on fixed rate loans are still cheaper and on a downward trend again and folks in the know are saying it is still cheaper to Buy then Rent. The requirement for a down payment on a loan are lower than you might think and the qualifications requirements seem to be easing from the peeps that loan the moo-lah!

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  1.    Rents are only going up from here. There are many pundits spouting about a 4% increase in rentals in 2014. Trulia Trends did a study in 2012 that said is it is 44% more expensive to rent in 100 major metropolitan areas so you do the math….
  2. Home Flippers have come to a halt. With our group of investors we have found that the flippers have flipped and want to hold on to their properties and use them as Rentals. Which makes sense since Rents are clearly on the rise.
  3. Loan Restrictions have eased.  Less stringent rules and qualifying criteria may help some people finally get that home Loan they have been waiting for. If you have good credit and some savings available for a down payment, you might just be able to get a loan for your dream home this year.
  4. Home Prices and Rates still at all time lows. Folks let’s just say while home prices are indeed rising they are still historically low in comparison to the highs in the early part of this century in most cities. Over the Summer interest rates did indeed rise, but they have been trending downward and relative to what interest rates could look like, we are still very low.

Wishing you all a very good day from The Walters Group

 

 

 

Turnaround Towns for Real Estate!

Interestingly enough I just watched an Independent Lens documentary on Detroit last night. It was chilling to watch a City that large fall into such despair, and to watch the perspective of City officials trying anything that came to save it was also interesting.

Then this morning I came across this article put out by Realtor.com on the towns that are turning around and at the top of the list was Detroit~There some more surprises on this list so take a look….you never know what investment opportunities are out there!

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