The Case (Shiller) for Denver Real Estate
December 29th, 2009 categories: Real Estate News
The Avalanche aren’t number 1 this year. The Broncos certainly aren’t number 1. The Nuggets? Remains to be seen, but number 1 is unlikely.
Denver real estate is number 1. According to today’s release of the latest S & P Case Shiller Report, Denver’s real estate market declined the least. We’re number 1 because housing values went down just .1% from October of 2008. The rest of the 20 cities monitored by the report declined more than Denver year-over-year. Not one monitored city increased values year-over-year.
Actually, if you break our market down further, there are some serious rays of sunshine in Denver. The condo market jumped 50% in number of sold properties since last year. The average sold price for single family homes in November was up 9.5% to $265,498. The starter home price point is so busy that buyers are competing for properties.
Our high end market is still languishing. Most days lately, I’m hearing stories about a high end sale here and there. That’s good news, but these sales are almost always coming with big price concessions from sellers. You can read more about a local perspective at John Rebchook’s Inside Real Estate News Blog.
We’ve been saying for awhile that Denver is turning a corner. Since I moved here in 1982, we’ve been a counter cyclical city. We’re ahead of the curve in recovery.
What does 2010 portend? The first half of the year will be very good for real estate sales here. But after the tax credits end, and when the U.S. stops buying Treasuries we may be in for a bumpier recovery. Let’s hope that we’ve laid good groundwork with increased job growth and a stable local economy to stand the test of time.
In the meantime, let’s go skiing!
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This Store Has Gone to the Dogs
December 29th, 2009 categories: Life In Denver
On Christmas Eve, I ran one last errand in Cherry Creek North to the tailor. As I came out to the car I saw a very excited Golden Retriever running down the block with his owner behind saying, “That’s right boy! Go see your friends!”
I looked across the parking lot to see where the pooch was headed, and there was a store called Two Pals & A Pup.
“Duke needs a stocking gift!” I thought. So I hurried over to run one last errand.
Inside I found a warm and inviting shop filled with everything dog. Home made treats in the bakery case, toys, collars and lots of love for the doggie and human customers.
If you have a dog in your life, stop over to Cherry Creek and check out this adorable new addition to the neighborhood.
And if you’re in the market for a tailor - I highly recommend Cherry Creek Tailoring. I’ve been a customer of Hamdi and Kiraz Sahin for over 24 years - I discovered them when I was an undergraduate at the University of Denver and needed a formal altered. They are fabulous tailors and lovely people. Customer service is very important to them, and I wouldn’t go to any other tailor in Denver.
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Denver Colorado Real Estate | November 2009 Market Statistics
December 21st, 2009 categories: Market Trends, Real Estate News
Busiest December Ever!
That’s not an exaggeration. It’s December 21st and I just got an offer on a listing which went under contract today. Our office rocking. The contracts keep coming in.
And we all had a great time dancing to the King of Pop last week at our office party. The mood is light years away from the dreadful, scary, morose feeling everyone had a year ago.
Not to say that things can’t fall apart on a dime. We’ve learned that a few times in the past decade. But when the going’s good you need to embrace it.
The Denver real estate market is setting the tone for an excellent 2010. This will be a very different year and buyers and sellers should be prepared to adjust quickly.
Looking at November’s market statistics (Christmas cookies took over for timely posting) you can see that Denver’s inventory is extremely low. This is more than just a typical seasonal adjustment. It’s a reflection of sellers’ pricing reality and buyers’ pent-up demand.
Our market is up 23% from this time last year! That’s an incredible statistic. In the words of Steve Harney, “You have to be dumb or broke not to buy a house right now.” A new house, an investment home, a move up, a downsize - this is your time, baby.
The average price is also up just a shade from last month and over 5% from last year. Sellers - don’t expect this number to magically increase at a rapid rate. Prices will remain deflated for awhile, but as the market picks up steam, prices will too.
With average days on market at 81 days, inventory will continue to sell off quickly and buyers’ lament will be that there’s nothing to look at.
After January 15th -when the market breathes new life every year - we should see an increase in inventory, and an increase in sales. Properly priced and showcased homes will not languish on the market in 2010.
Happy Holidays to everyone! Thanks for reading LifeStyleDenver for two years. Keep coming back and let me know if you want to list your house or find a new home in 2010.
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Top 4 Colorado Places to Chop Your Own Christmas Tree
December 1st, 2009 categories: Life In Denver
Have you ever hiked into the woods in early December, trudging through several feet of snow to chop down your own Christmas tree?
Have you ever done it in tennis shoes?
I have, and my former father-in-law never failed to remind me that girls from California should seek footwear advice from a local before heading to the Rockies to chop down a tree in December. (Ex-father in law, you see.) He took great enjoyment from reminding me of that little faux pas.
Which is sort of like my father asking me if I remembered to turn on the oven whenever I’m cooking a turkey. Ha ha!
Colorado offers some lovely places to chop down your own tree. I’ve chosen the top 4 closest to Denver. Most are less than 2 hours away, many even closer. It’s really a treat to hike out into the forest, find just the right tree and haul it back to the car - only to discover that it’s actually 12 feet tall and your ceilings are 8 feet. Beware - the trees look a lot smaller in the forest than they do in your living room.
We went into the national forest at Red Feather Lakes to get our tree. That was fun, good for thinning the forests, and you get a really natural organic tree. Plus, the price is right! Typically $10 for a permit.
1. State and national forests:
Christmas tree permits, which allow you to cut your own Christmas tree on public lands, are now on sale at National Forest/BLM offices and some retail outlets. Permits come with a brochure, which explains regulations and offers helpful tips. National Forest/BLM offices also sell maps and offer free advice on the best areas for tree harvesting, and the best species of tree to cut.
- Denver & Front Range Areas: Four primary cutting areas along the Front Range in the Arapaho, Pike and Roosevelt National Forests serve metro Denver and surrounding communities. See their website for more information on permits, etc.
- Permits: $10 each. One tree per permit. Limit 5 permits per person. All sales are final.
Area Entry Hours: 8:30 am to 2:30 pm - For your safety, no entry is allowed before or after these hours.
2. Colorado state forests:
Christmas tree cutting permits at Golden Gate State Park - A limited number of permits are usually available for the Golden Gate Canyon State Park, just 30 minutes outside of the Denver metro area. This usually takes place over 1 weekend. Areas for both four-wheel and two-wheel drive vehicles will be available, with some hiking required. The tree permits will be available at the Golden Gate Canyon State Park Visitor Center located at 92 Crawford Gulch Road, 15 miles west of Golden. To reach the Visitor Center, turn west on Golden Gate Canyon Road, off of Highway 93. Permits will be sold from 9 am to 4 pm daily, while supplies last. Permits may also be purchased over the phone with a credit card by calling 303-582-3707. Visitors must pick up their permits at the Visitor Center prior to cutting. A detailed map with additional information is provided with each permit. The 2008 permit cost was $20. Permits were discounted to $10 for those with a State Parks Pass.
3. Christmas Tree Acres:
This tree farm has been selling cut-your-own trees since 1986, and the owners are there to help. They point out that a fresh tree will last much longer than trees that were chopped down weeks ago and trucked in from a different climate.
For prices and directions call: 970-284-6061
23003 County Road 39, La Salle.
4. U Cut Tree Farm
This 80-acre lot offers several varieties of trees, including Scotch Pine, Douglas Fir and Blue Spruce. You can ask the owners about the pros and cons of each, but here’s a description from the US Forest Service site.
At U Cut, you’ll drive up for directions and then you can take your car out into the lot to find your perfect tree.
For prices and directions call: 303-660-477011200 Colorado 83, Franktown.
Best wishes from my family to yours for a fun and safe holiday season. Enjoy your Christmas, Hanukkah and New Year’s. Remember that for your 2010 Denver Real Estate needs, I’m just a click away.
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