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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
NEWS-Real Estate Market Report for Douglas County-Parker Colorado Real Estate
Oct 30th 09
REAL ESTATE MARKET UPDATE
An Information Service of RE/MAX Alliance/Douglas County
October/2009
Real estate markets are always bottom-up markets. Which means? For a real estate market to sustain itself and flourish, the bottom of the market, that being the less expensive properties, must sell in a timely manner. When the bottom of the real estate market suffers, the entire market is negatively impacted.
The government’s $8,000 tax credit, which ends in late November/2009, unless there is an extension or change in the program, was designed to serve two purposes: (1) provide first-time home buyers an incentive to buy now, and (2) stimulate the housing market by getting entry level homes sold so current homeowners could “move-up” to more expensive properties. The result being that life would be breathed back into the overall housing market.
There were some hurdles to overcome to this seemingly perfect plan. First, with the economy limping along, home values had been driven down in most geographic areas around the country, resulting in a loss of homeowner equity. A home seller considering buying-up now had less cash in their current home to buy-up with. Second, almost overnight the home mortgage industry went from loaning money to anyone with a pulse to being over selective as to whom they would bless with their sacred funds. Finally, the uncertainty of the job market and the high unemployment rate has led to many potential move-up buyers deciding to rent rather than buy. This has resulted in the more expensive homes being forced under the boot of foreclosure or short sale, or they have become rental havens for those individuals choosing not to buy now or not having the ability to buy now.
Below is a brief overview of the absorption rates for single family homes for the Douglas County area through September for the past two years. The Absorption Rate is the length of time it would take for the existing inventory to sell assuming two things happen: (1) the rate of sales activity remains the same, and (2) no new listings come into the marketplace during that period of time (this is not going to happen). (Metrolist MLS is the source of information.)
“NEWS Articles of Interest for the Denver & Douglas County Real Estate Market”
Denver fares better than nation in home resale prices - According to a First American CoreLogic Inc. report released yesterday, Denver-area home resale prices dropped in August year over year, but were down far less than the national average. First American’s LoanPerformance Home Price Index (HPI) showed that metro Denver’s average home-resale price — including sales of distressed homes such as foreclosures and short sales — decreased 1.44% in August from the same month of 2008. Nationwide, resale prices dropped 10.1% in August from August 2008. By comparison, July home prices in the Denver area dropped 2.64% from those of July 2008, and June prices were down 3.21% year over year. However, when distressed sales are excluded, August home prices were down less than 1% — .58% — from the prior-year August. July prices, not including distressed sales, decreased 1.26% and June’s prices dropped 1.68% year over year.
http://denver.bizjournals.com/denver/stories/2009/10/26/daily51.html
Freddie Sees Weekly 30-Year Fixed Rate Pass 5% - The 30-year fixed-rate mortgage averaged 5.03% with an average 0.7 point for the week ending October 29, 2009, according to Freddie Mac’s Primary Mortgage Market Survey. Last week, it averaged 5.00%, and a year ago it was 6.46%. Sales have increased, prices are down and supply is starting to decline, according to Bankrate.com. Susan Wachter, a real estate professor at the University of Pennsylvania’s Wharton School of Business, said in the Bankrate.com survey the housing market is not at a false bottom. “These are strong numbers, but not surprisingly strong numbers,” Wachter said. “The fundamentals are in place for a recovery — however, a slow recovery.”
http://www.housingwire.com/2009/10/29/freddie-sees-weekly-30-year-fixed-rate-pass-5/
Additional articles that you may find of interest:
Building a home yourself without swinging a hammer
http://www.9news.com/money/consumer/article.aspx?storyid=125948&catid=103
Homebuyer Credit Gets New Life
http://www.realtor.org/RMODaily.nsf/pages/News2009102901
How to Tell Mortgage Rates Are Rising
http://www.realtor.org/RMODaily.nsf/pages/News2009102904
FHA 203(k) Loans on the Rise
http://www.realtor.org/RMODaily.nsf/pages/News2009102906
Investor Report: Fannie Mae’s PRP
http://realtytimes.com/rtpages/20091030_investorreport.htm
Douglas County Colorado Ranked # 5 for Young and Wealthy in the Nation
Oct 1st 09
Douglas County Business opportunities.
CNN Money released a report a month or so back “Where the jobs are” that ranked Douglas County Colorado as the number 5 spot for wealthy young adults. There is even a mention that some locals have nicknamed the area “Silicon Mountain.”
I guess we have always known this but the rest of the world didn’t. Douglas county is ideally situated between Denver and Colorado Springs and encompasses Parker, Highlands Ranch, Castle Rock and Franktown Colorado. Our quality of life and abundance of amenities have created the perfect location/reason for large companies to decide to relocate here.
- Highly educated workforce.
- Cost of living is low compared to most large cities.
- Housing costs are some of the most reasonable in the country. We have had our share of foreclosures but massive deprecation of property values was contained to a few small areas of the city.
- Douglas County real estate and home prices held steady during the real estate crash.
- Outdoor and open space activities. A well thought out bike trail system allows people to access most parts of the city via their bike, walking or whatever they choose.
- Hiking trails in beautiful open spaces with easy access to State and National Forests and Parks.
- A state of the art light rail system in place and operating with large plans to expand that are already underway and some awaiting approval.
- A very established Denver Center for the Performing Arts venue with a full schedule of world class events and shows.
- Douglas County has a wonderful schools and there are plenty of options for Private schools as well.
- World class museums and the Denver Zoo that will make you want to come back over and over again.
- Oh and don’t forget the best skiing in the WORLD an hour from your door.
- Fishing, hunting, snowshoeing and any other outdoor adventure you can imagine. It’s all here. Except the ocean! Oops.
For more information about moving or starting a business in Parker Colorado contact the Parker Economic Development Council.
Parker Home for Rent.
May 20th 09
This is a great Parker, Colorado home for rent located on a large cul-de-sac. Available July 1, 2009. 3 Bedrooms, 2.5 Baths. he master bath is a five piece bathroom with tub, shower, two sinks in the vanity and a toilet room! 2110 square feet on the main two levels plus 1100 square feet in the basement. Two car garage. Recently updated kitchen with new and newer appliances. Owner will have the lawn cared for so you do not have to do any yard work. Formal living and dining rooms. The kitchen opens to the family room to create a nice family space. Eating space in the kitchen plus a breakfast bar. Nice private fenced backyard with a super patio.
MAP HERE! 10525 Mount Columbia Place, Parker, Colorado 80138
Call 303-941-4663 for information. $1550 per month.
http://www.vimeo.com/4750542[gallery]
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