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Douglas County Real Estate Market Update
Apr 13th 11
Douglas County Market Report
2011 1st Quarter Real Estate Stats Douglas County Colorado
Here is a quick look at the numbers as seen in the full report linked to above. This is for the Douglas & Elbert Market areas.
Average Sold Price = $337,668 which is down 5.1% from 2010.
# Sold homes = 926 which is up by 6 sales from 2010.
Average days on Market = 135 which is 17% longer than 2010.
We have had a total of 8 homes that have sold above $1 million and 16 homes that sold between $800 and $900,000.
The most popular sales price is from $200,000 to $399,999 with 572 sales.
Since the end of January sales and showings are definitely up. I’ve noticed that showings on my listings have been through the roof. Some of my listings are getting as many as 10 showings a week.
Check this out. The average sales price for homes this year in the Parker zip code of 80134 is $309,200 and for zip code 80138 the average sales price is $351,692.
Foreclosure Hot Deals in Parker.
Steven Beam is a Realtor, CRS living and working in Parker Colorado.
Douglas County Working Parents and Top Pre Schools Options Limited
Jan 21st 11
School Kids
Parker Parent Looking for the TOTAL Package in a School!
Please comment below if you have an opinion on this subject and I am certainly open for advice and other good options if you have a system that is working for your family. Please let me know. I would love to pass on the information. I don’t think there is a right or wrong answer to this problem it would be whatever works best for you and your family.
If you are a working family that does not have a Mom or Dad that stays home you may be in for a rude awakening when you go to enroll you kids into top pre school and kindergarten programs in Douglas County Colorado. I’m not only talking about Douglas County Schools but also privately owned schools and faith based schools.
Fact: Did you know Douglas County Schools is now the 3rd largest school system in the State of Colorado?
Opinion: I would also argue that it is also probably one of the wealthiest as well. Douglas County has a large tax base of high income earners.
What I have found personally and through many conversations with other parents is that we are blessed to have many great choices for schools and pre-schools.
The Problem:
Many of the great pre-school and kindergarten programs that we have found are very limited in offering only very short programs and many don’t offer 5 day a week classes.
We recently found a top local school that offers 2 or 3 day a week pre-school programs from 8:30 to 11:45 or 12:45 to 3:30. So if you work how could you possibly manage that? No 5 day a week program. No possible way to only send your kid or kids to school for only 3 hours a day 2-3 days a week. It’s a system that caters to the stay at home Mom or Dad. It’s unfair. To their credit they told us that if there was enough interest they “might” consider offering full day. Well I know a lot of parents that are interested.
We also have great schools that offer 5 day programs but close at 3:00 sharp. So drop off is 8-8:45 and pick up is 3:00. School is from basically 9:00 to 1:00 or 2:00 depending on the age of the student so you pay extra for after care from 1:00 or 2:00 until they close at 3:00.
My question is how many companies let you off at 2:30 so you can go pick up your kids and take them home for the day?
Options:
There are day cares that will come pick up your kids and bus them to their site for an afternoon session. I know a lot of people that do that and it seems to work for them but many express sadness in having to have their kids carted around during the day.
I also know that here in Parker there is a place specifically setup for after school care, drop off and recreation activities. I don’t know a lot about it but when we priced it out it was very expensive. Add that to already expensive pre-school and kindergarten.
We have now hired a Nanny to pick up our kids, bring them home and take care of them from 3:00 to 5:00. It works! I can feel comfortable knowing that they are home safe and sound. Some people cannot do this and I know we are lucky to be able to have this option. So, what do people do that are not as fortunate? They are stuck sending their kids to schools that may not be as good or may not be the type of school they want for their kids.
I do know that many of the neighborhood PUBLIC schools offer after school “Enrichment” programs at the kindergarten level. It seems to me that there is about a 50/50 split with parents on this option. Some feel their kids get super bored in these programs since class time ends around lunch and the kids sit around a play most of the afternoon. I hear some even have video games in the classes for the kids to play during the “a. I’m not sure I want my kids playing video games at school to keep them entertained until I pick them up.
Expense:
Two years ago we were paying $26,000 a year for two kids to go to school. Ages 4 & 2. My neighbor has a child at CSU and he was shocked at what we were paying but I told him I was happy to pay it if it provided what our family needed and at the time it was a SUPER fit for our kids. There are many families in Parker and Douglas County that feel the same way. I hear the discussions at sports practices, gymnastics etc…
Solution:
The best possible solution would be to have top ranked schools offer full day & week programs so all of us could participate. If you offer a great service people will use it. I for one would be happy to pay for such a service and I know a lot of people that feel the same way.
The one group that I have not mentioned:
The single parent! GOD I do not know how you guys do it. I praise you 1000 times because I could not imagine raising children all on my own. Neither could my wife. It’s beyond my comprehension how you work, pay the bills, and shuttle kids around with only YOU. I admire you for what you are doing.
Good Schools that you may want to consider.
Cozy Pine Montessori
Parker Landing
Parker Montessori
Core Knowledge
North Star
What do you think? Leave a comment below. Like I said I’m looking for options not just for my family but for our friends and neighbors too. If you don’t want to leave a comment call me 303-941-4663 Steven Beam
My next article will be about waiting lists at these schools and why do we have to have waiting lists? Why can’t all the schools be this good?
Be a Voyeur in Your Neighborhood
Short Sale Home Buyers in Parker Colorado
Oct 29th 10
Parker Colorado Real Estate
An influx of Short Sale buyers in
the Parker Colorado Real Estate Market.
As Foreclosuregate heats up in the upcoming months one thing remains clear. Buyers of foreclosed homes will be unsure if their property rights and entitlement to a free and clear title will be absolute.
With all the class action lawsuits and other legal actions by the Attorneys General of 49 of the states and The District of Columbia pending it is unclear how things will play out in the near or distant future.
A recent article in the New York Times, and posted by Mai Ling at MSN Real Estate says: If former homeowners can prove their foreclosures were incorrectly processed, the new buyers of their foreclosed properties could get stuck in the middle of a legal mess that we can’t even fathom at this point. One thing’s for sure: We’re going to be seeing a lot fewer homeowners willing to consider buying foreclosed homes.
Email Lou for quick answers to your short sale questions.
- Should I Short Sale my Parker Colorado Home?
- Get Help With your Colorado Foreclosure.
- Colorado Foreclosure time line.
- I can’t make my mortgage payments so what now?
- Find out the market value of your property now.
- How do I Price My Colorado Short Sale ?
- Short Sale Scams in Parker Colorado
One thing is clear, these same buyers looking, for good value in a home purchase, are already flocking to the short sale market to provide them with a family home or investment property with a guaranteed marketable title.
If you are looking to sell your home in this market there is no better time to consider a short sale listing to attract these buyers and provide you the relief you are looking for from a pending foreclosure. Most lenders have their own specific requirements and federally insured loans require their own set of submittals. It is my recommendation to use a Realtor experienced with the processes and requirements specific to short sales.
Should I Short Sale My Parker, CO Home Before Foreclosure?
Oct 13th 10
Parker Colorado Home Values
“Will a short sale help me sell
my Parker Colorado home?”
In today’s changing and declining real estate market it is becoming increasingly more difficult for many homeowners to sell their homes and fully satisfy the mortgages on the property as well as pay all the closing cost related to the sale.
Email Lou for quick answers to your short sale questions.
- Get Help With your Colorado Foreclosure.
- Colorado Foreclosure time line.
- I can’t make my mortgage payments so what now?
- Find out the market value of your property now.
- How do I Price My Colorado Short Sale ?
- Short Sale Scams in Parker Colorado
More and more Parker, Colorado homeowners are looking to short sales to enable them to sell their properties. Not everyone can qualify for a short sale on their property. The lender typically is not willing to provide a discount on a performing mortgage with a strong borrower. Certain conditions must be met before a lender will qualify a borrower for a short sale.
Here are the general conditions for a short sale qualification:
• You must provide proof that you are experiencing a hardship through such things as unemployment, marital problems or medical issues.
• You must show that the value of your property has fallen so the lender can justify the sale of the property at the present market value.
• You must provide evidence that you are behind or about to fall behind in your mortgage payments.
• You must not have substantial assets that the lender can view as a resource to pay your ongoing mortgage obligation.
• You must have a qualified buyer to purchase the property. Your Realtor can provide a buyer from their listing and marketing of the property. This typically is not a problem.
• The lender must agree to the short sale.
By pricing the property in relation to a negotiated short sale discount the homeowner is able to attract qualified buyers who are looking for a competitive price on their new home or investment. With the multitude of short sale and bank owned properties currently listed for sale a short sale discount may be the best avenue for a homeowner to market and sell their home.
Short sales are a specialized form of real estate transaction. A homeowner should work with an experienced and qualified Realtor who specializes in this type of transaction. Your Realtor and their staff will insure that all of the elements of this transaction will take place properly.
Parker Colorado Short Sales – Beware of Scams
Oct 12th 10
Short Sale Scams Beware.
Beware of scammers when you list
your next Parker Colorado Short Sale
Before you get ready to list for sale or buy your next Parker Colorado short sale please read this.
As with all crises, there creates a money making opportunity for the scam artists of the world. The vulnerability of homeowners facing one of the most stressful situations in their lifetime brings out the worst of the worst in people. In the case of financial hardship and rescue schemes it has come to bear that these individuals and companies have shown their ugly heads yet once again.
- Get Help With your Colorado Foreclosure.
- Colorado Foreclosure time line.
- I can’t make my mortgage payments so what now?
- Find out the market value of your property now.
- How do I Price My Colorado Short Sale ?
- Common Short Sale and Foreclosure Terms
We see them on late night TV and their offers pop up while doing internet searches. These are individuals or out of state companies offering unrealistic solutions to “stop foreclosure Now” or to “buy your home in two weeks or less”.
Many homeowners today who are facing a financial hardship and are facing the likelihood of losing their homes to foreclosure are reaching out in desperation to whomever and whatever opportunity presents itself in an effort to remain in their home and continue to keep their family in a stable environment.
Your lender now has many tools to assist you through a multitude of federal programs available to them today. Whether you are looking to negotiate a loan modification or another type of work-out such as a short sale or forbearance, contact a professional local Realtor who is knowledgeable and specializes in these types of work outs. They are the folks who understand all the options you have today and there will never be a front end fee, never. Discuss your personal situation with these local professionals and get the facts before committing your time and financial resources to someone requesting money up front and making promises which sound too good to be true.
Hot Real Estate Deal in Castle Rock, CO 80104
Oct 7th 10
Hottest Real Estate Deal in Castle Rock, Colorado.
6078 Wescroft Ave, Castle Rock, CO 80104
Asking Price $156,900
Tax consequences of a short sale
Oct 6th 10
short sale tax issues
Tax consequences of a short sale
As strange as it may seem the IRS code requires that a borrower defaulting on a loan and having all or part of their debt relieved is subject to a capital gains tax liability on the amount forgiven by their lender.
Taxpayers who are defaulting or negotiating reduced settlements on their mortgages are precisely the folks who are not able to pay the capital gains taxes due per the tax code.
- Get Help With your Colorado Foreclosure.
- Colorado Foreclosure time line.
- I can’t make my mortgage payments so what now?
- Find out the market value of your property now.
- How do I Price My Colorado Short Sale ?
- Common Short Sale and Foreclosure Terms
Congress did act on this issue on December 20, 2007. They enacted the Mortgage Forgiveness Relief Act of 2007.
The act currently provides for the following provisions.
Debt that is now canceled or forgiven by the lender is now excluded from the capital gains tax liability if it meets the following conditions:
- The debt is forgiven in calendar years 2007 through 2012
- The amount of forgiven debt does not exceed $2,000,000.00 for taxpayers who are filing jointly or $1,000,000.00 in the case of taxpayers who are married and file separately in calendar years 2009 to 2012.
- The qualified property must be the primary residence of the borrower.
- The debt must be forgiven as a direct result of the decline of the value of the property.
The lender is still required to issue a 1099-C for the amount of forgiven debt to the borrower. It is the borrower’s responsibility to attach and file an IRS form 982 along with their federal tax return for that year. The tax credit will not be allowed without the Form 982 provided at the time of the filing of the tax return.
The borrower should contact their accountant or tax preparer or go to WWW.IRS.Gov to learn more about this relief from the capital gains tax on the foreclosure, refinance or short sale of their principal residence.
How do I price my short sale home in Colorado?
Oct 5th 10
Foreclosure and short sale help.
Price it right with a short sale
There are many challenges facing the Colorado homeowner or investor who needs to sell their personal residence or income property in today’s market.
We are presently experiencing one of the greatest reductions in market value in recent history. It no longer matters what you paid or what you currently owe on your property. The present value is only dictated by what a buyer is willing to pay for that property in today’s market.
In an ideal world a seller would enjoy an offer on their property which would fulfill the payoff requirements of the lien holders as well as pay all the typical seller’s closing costs and hopefully put a few dollars into their pocket. Unless there is substantial equity in the property, in the real world today that is not the typical situation sellers are facing.
- Get Help With your Colorado Foreclosure.
- Colorado Foreclosure time line.
- I can’t make my mortgage payments so what now?
- Find out the market value of your property now.
Because of the flood of foreclosures and bank owned (REO) properties on the Colorado housing market today’s buyers are looking for a “deal”. Don’t be disheartened, there are many buyers in the market today and the savvy buyer knows that it is not necessary to pay a full retail value for a property.
A short pay or short sale may be available to a seller if a hardship can be established limiting the seller’s ability to continue to make their mortgage payments. Depending on the type of loan and federal requirements on certain types of loans short sales are available to most borrowers in today’s market.
The value of a property involved in a short sale is not determined by the price the borrower originally paid or the outstanding balance on the current loan. The present market value, determined by a current appraisal or BPO ordered by the lender, is how the value of the property is determined. This Present Market Value is generally below the loan balance owed to the lender and hence the lender will accept a short pay or short sale on their loan balance.
If you are facing a financial hardship, brought on by a job loss, illness or other family hardship, consider a short sale with your lender to provide relief from your high, unaffordable mortgage payments.
Housing Market News for Denver and Colorado
Jun 29th 10
Here are some quick links to local and National news articles pertaing to the housing & real estate market. I thought you might enjoy.
U.S. home prices rise 0.8% in April: S&P – Prices have moved up 3.8% in the past year, marking the third consecutive year-over-year gain. Prices rose in 18 of the 20 metropolitan areas tracked by Case-Shiller in April compared with March. Over the past year, prices rose 4.4% in Denver.
Additional articles that you may find of interest:
- Peloton offers stimulus discounts to next 12 buyers
- Utter, Bowes form firm
- Fannie Mae gets tough with ’strategic defaults’
- Home prices rise 0.8 pct. in April from March (Denver up 4.4% over the past year)
- Furniture Row buys Watkins land for $6.5M
- Banks: We’re Hiring
- Factory-Built Homes Gaining Acceptance
- Renovation Projects For Older Housing Must Follow EPA Rules
- What Wall Street reform means for your mortgage
Town of Parker Colorado 2010 Overview, Demographics and Facts.
Jan 16th 10
Parker Colorado Economic Development Council
Parker Colorado Economic Development Council!
Becky Hogan 303-805-3169
Looking to start a business in Douglas County or Parker Colorado? Please contact the EDC for a full overview of the facts and reasons you should conifer Parker as a destination for your new or existing business.
Here are some quick facts I learned during a presentation January 14th given by Becky Hogan with the Parker Colorado Economic Development Council.
- 2010 Town of Parker, Colorado Population 46,260 (incorporated)
- Size: 20.1 square miles
- Build-out projection: Incorporated: 101,500 & Parker trade area: 126,000
- County growth: 63.2% from 2000 to 2009
- Municipality Growth: 96.3% from 2000 – 2010
Building
- 2009 – 17 new commercial permits with a valuation of $32,721,825
- 2008-26 new commercialpermits with a valuation of $36,025,092
- 2009 – 43 new single family detacthed permits with a valuation of $15,667,045
- 2008 – 146 new single family detached permits with a valuation of $46,501,468
Commercial Space
- 3.3 Million square feet of retail space total.
- 1.5 Million square feet of industrial space total
- 630,000 square feet of office space total
Sales Tax
- 8.1% Total
With it broken down like this:
- Parker 3%
- State 2.9%
- County 1%
- RTD/SCFD/FD 1.2%
Parker’s 3% = 2.5% general fund, .5% Parks, Recreation & Open Space
Residents
- 2.93 Average Household
- 31 Average Age
- 82.4% have some college education
- 92.6% Home Ownership
- $94,556 median household income per year
Housing
- $333,000 Median Home Value
- Single Family Dwelling New Construction: $60,000 to $4.8 Million
- Single Family Dwelling Resale $50,000 to $1.78 Million
- $145,000 Median Condo Townhouse value
- Sales for Condos/Townhome range from $55,000 $345,000
A special thanks for Becky Hogan at the EDC for taking the time to put on the presentation at the Parker Library last week. For details and information please contact Becky Hogan.
Becky Hogan 303-805-3169
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