Yesterday I received a telephone call from John Rebchook, the real estate journalist for the Rocky Mountain News. 
John shared with me some very good news contained in a report by PMI. You can read the whole news here; PMI Study: Denver’s Housing Market strong
Hearing the contents of the U.S. Market Risk Index is music to my ears. Finally an outside source who has a vested interest in providing good data is handing us a positive report! Denver continues to out-perform other Metro areas. As far as real estate is concerned we have a future and it is good.
Really.
There is not a day that goes by where I’m not talking and/or working with people who are relocating to the Denver area. So many are in a holding pattern until their homes sell in other areas.
No doubt our market isn’t going to light on fire anytime soon, but there are homes selling. In fact as in my example in the paper, we are finding more and more buyers are competing for the good homes.
Properties that are priced right and nicely cared for sell quickly. In fact I showed one last week to a client who couldn’t (actually wouldn’t) write an offer until his wife could see it. She can’t get here until this week. Well, you guessed it, the property is already under-contract. Congratulations to that seller, they did very well. I’ll just have to go find the Mrs. another home this week.
Yes, the Denver real estate market is selling. Prices may be down in some areas, but in others they aren’t judging the entire market by the overall stats is a HUGE mistake. Buyers and sellers have to look at the micro market in the area they plan to buy or sell. Assuming that statistics are a “one size fits all” rule, is harmful.
Call a pro, let your pro show you the facts, the whole facts. Then make your decision.
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4 Comments
Second Rock Star I met tonight!!! You are Real Estate News!!!
Second? Darn I wanted to be #1!
Thanks for stopping by…
kk
Kristal, what are you seeing in Wash Park. We are sellers,getting great feedback, everyone says priced right. I am baffled. Most common feedback I get is 1- buyers have home listed, haven’t sold or 2- buyers will list home soon. Are people actually buying in this area right now? all of the listings I previewed are still listed.
Dana ~ Thanks for stopping by. As a homeowner you are part of a large group who are anxiously waiting and watching the market. After taking so much time to make your house perfect the buyers just can’t come quick enough!
I don’t know you or your specific stats, your agent can help you with that.
In general homes in Wash Park are selling. I just ran a search beginning Jan. 1, 08 until today, price range $300k to $600k.
A total of 58 sales have occurred in that area. These are closed sales.
Using the same search criteria, but counting the “active” listings 72 came up.
I would say Washington Park appears to be doing ok.
Thank you for your comments. You’ve sparked a new blog topic for me regarding the value of “feedback”.
I find relying on feedback isn’t always a good indicator. There are many reasons for this as I will discuss in a future blog.
Good luck with your sale! I’ve got my fingers crossed for you.