Market UPdate

Wow, it has been awhile since I've been on my blog. To my readers I apologize!

Denver has been growing in demand over the last 3 months under the $250,000 price range. Supply has been low, simply due to sellers holding off on listing, and banks withholding properties to push through loan modifications. Demand is up for buyers trying to take advantage of the $8,000 tax credit. Therefore, lack of supply and more demand produces a sellers market under $250,000! So all of you sellers out there that are thinking of waiting to sell and you are under $300k don't wait!!! Now is better than the last 3 years!! Call me.

Market Watch

For the fourth consecutive month, the number of existing homes sold has increased, a sign that Denver's housing market has hit bottom and is bouncing back, according to real estate experts.

Sales of previously owned homes increased 7 percent in May to 3,628, according to Metrolist data released Friday. While that's still down 22 percent from last year, the month-over-month increase is encouraging.

"We might be able to officially say we saw the bottom," real estate analyst Gary Bauer said. "When did it happen? I'm not quite sure, but we've got a couple of months where we've had a nice rise."

While still down from last year, median prices for single-family homes and condominiums also are on the rise, according to the data. The median price for a single-family home rose 4.8 percent in May to $220,000, compared with the previous month. That's still down 2.7 percent compared with last year.

Forty-two percent of homes sold went for less than $200,000, and 28 percent were in the $200,000-to-$300,000 range.

For condos, the median price increased 5.4 percent in May to $137,000, compared with April. But it's down 7.4 percent compared with the same time last year.

Thirty-six percent of condos sold went for less than $110,000 and 75 percent brought less than $200,000.

First-time buyers who close on a home by Dec. 1 can get a tax credit of up to $8,000. Bauer said there are now programs in place that allow first-time buyers to get the credit almost immediately.

"There are a lot of first-time homebuyers taking advantage of the potential for the tax credit," said Dave Simonson, a broker with Re/Max Professionals Inc.

The number of unsold homes on the market remained steady in May at 20,734. That's down 21.3 percent compared with the same month last year.

Denver number 1!

Denver was voted number one for come back city in this recession!!!  I can feel it!  We are getting busier at work and things are progressing into offers.  Interest rates went up a bit and buyers need to take advantage of the long term gains.  

Denver Numero uno

Attention:

Looking for home buyers and sellers.  If you know of any, I would love to help!  Denver was just voted number one city for coming out of the recession.  Don't wait till its too late.

$8000 tax credit

Just heard from HUD you can use the $8000 tax credit as your down payment on your home!!!

Real Estate market news

 I am working 3 deals right now, which to say I am grateful for, but have to admit the lending has been very rigorous and emotional.   The new FHA 203k credit limit has now been increased to 620, forcing us to jump through hoops to make it work.   Underwriting and appraisals are weeks behind, which make my life harder.  Anyways, needless to say, there is financing available!  It is just a harder ride to the finish line!  

twitter!

So I am advancing in my technology needs and moving on to the next best thing....twitter.  

Have you heard of it?  If not, check it out.  It is the new wave I heard from my US Weekly.  Yes, gossip magazines have other things in there other than Brangelina and Jenaoyr!  Bad thing is, it will allow texting on this twitter, but beware if you don't have unlimited text's like me.  

On a real estate note, 3 new leads this week!  I am going to get lots of deals closed next month and this spring!!!  That's my own personal pep talk :)!  Colorado and Denver are going to beat this economy and the rest of the US.

Is it Spring here in Denver?

This weather has been truly amazing!!  I'm ready for patio lunch days and walks around Wash Park.  Maybe some frisbee golf or biking??  

Real Estate here in Denver is getting better.  Ignore the national news on all the media, we are seeing bidding wars constantly under $250k and less supply.  It's going to get more exciting and interesting.  

Good news for Colorado Real Estate foreclosures

Did you hear yesterday that Denver's foreclosures have dropped by 14% !!!  We'll be coming back soon.....with only 14,000 homes on the market right now, start investing today!

Is this true???

http://health.msn.com/womens-health/slideshow.aspx?cp-documentid=100232497&gt1=31036

Sunday afternoon with the fam...

I am writing on a more personal note this evening.  Today we went to a fundraiser for a girl I used to babysit.  She is 21, and battling stage 4 cancer.  She just had a little baby boy, and they are not sure how long she will live.  

Feel blessed for what you have today.  Think of 10 things you are grateful for as you go to bed tonight.  Many of us take for granted what we have and do not tell the ones around us we are grateful for them and our health.  My prayers go out to her and her family as they will have to struggle over hard times ahead.  

Happy Valentines Day!!

I hope today is happy and full of love for everyone!  And for all you single folks out there enjoy the times you have on your own, and explore life and the uniqueness in meeting new people.  

It is snowy and cold here in CO today, but its a nice day to sleep in.   

Have you watched the news lately?  As some of you know I am not very opinionated so I am postings only educational news for your opinions :) The stimulus package was just passed by Senate.  We'll see how this go around will help the housing market.  We need some stimulation in that department!!  

See below article on the stimulus plan.

 http://www.msnbc.msn.com/id/29179041

After the holidays re cap

The holidays were fun, with Chris's family in town from Oklahoma and California. We did some mountain days in Winter Park, relaxed, and ate plenty! Now its back to the gym, routine and goal planning for the new year! Goal planning gets harder in my opinion these days because it seems the market is more unpredictable. It appears that even though signs are showing better for Denver, and the news is finally portraying that, consumers are still very cautious. But who can blaim them? !!
I also have been using and exploring a new skin care product called NuSkin, that is a mini at home spa. It is fabulous and my skin already feels much better. If you want to watch the video, check out www.nsevideos.com/biz , it is amazing how far our technology has come!
Now we begin the new year, and I'm excited for what is ahead in 2009. We started it off great seeing friends and family, working out and working :).