Comments on: Denver Real Estate Outlook http://www.kristalsellsdenver.com/denverdwellings/denver-real-estate-outlook/1033/ Kristal Kraft...Selling Denver and the 'Burbs! Sat, 28 Jan 2012 23:19:02 +0000 hourly 1 By: Mack Perry http://www.kristalsellsdenver.com/denverdwellings/denver-real-estate-outlook/1033/comment-page-1/#comment-1335 Mack Perry Sun, 16 Nov 2008 17:27:55 +0000 http://www.kristalsellsdenver.com/?p=1033#comment-1335 Kristal, here are some comparison figures for the 3 primary areas of The Atlanta Market that I concentrate on. For the month of October 17.26% of the closed transactions were new construction vs 82.74% that were resales. Similar figures coincide for properties that went under contract. Like you I am also glad the election is over with the exception in Georgia we are having a runoff for US Senator. I was so ready for the half truth ads to be over. Kristal, here are some comparison figures for the 3 primary areas of The Atlanta Market that I concentrate on. For the month of October 17.26% of the closed transactions were new construction vs 82.74% that were resales. Similar figures coincide for properties that went under contract.

Like you I am also glad the election is over with the exception in Georgia we are having a runoff for US Senator. I was so ready for the half truth ads to be over.

]]> By: Kristal Kraft, Denver Realtor http://www.kristalsellsdenver.com/denverdwellings/denver-real-estate-outlook/1033/comment-page-1/#comment-1334 Kristal Kraft, Denver Realtor Sun, 16 Nov 2008 15:49:27 +0000 http://www.kristalsellsdenver.com/?p=1033#comment-1334 Mack ~ You pose a very good question and with it the content for yet another blog! Our builders have cut back on inventory, building for the most part "to order". The existing "inventory" homes are being offered at significant discounts. Partly because of the slow market and partly the end of the year is approaching. I've seen this happen before and it is a good thing. When the builders stop building the resales get purchased. First time buyers come into the market and the trickle starts upward. Soon we will have a full fledged seller's market. Soon that is, when the financial industry figures out how to do business again. :) I am so glad the Election is over. This one nearly killed us. Mack ~ You pose a very good question and with it the content for yet another blog! Our builders have cut back on inventory, building for the most part “to order”. The existing “inventory” homes are being offered at significant discounts. Partly because of the slow market and partly the end of the year is approaching.

I’ve seen this happen before and it is a good thing. When the builders stop building the resales get purchased. First time buyers come into the market and the trickle starts upward.

Soon we will have a full fledged seller’s market. Soon that is, when the financial industry figures out how to do business again. :)

I am so glad the Election is over. This one nearly killed us.

]]> By: Mack Perry http://www.kristalsellsdenver.com/denverdwellings/denver-real-estate-outlook/1033/comment-page-1/#comment-1333 Mack Perry Sat, 15 Nov 2008 12:09:27 +0000 http://www.kristalsellsdenver.com/?p=1033#comment-1333 We get that same "When will we hit bottom" question in Atlanta. When asked I respond with, we will know when we hit the bottom about four months after we hit it. Trying to time the real estate market is like trying to time the stock market, it just isn't going to happen with any certainty. I would be curious to know how the market is in Denver regarding new construction vs. resale. In the northeast quadrant of Atlanta resales are out selling new construction 4 to 1. The builders are offering deep discounts which is adjusting the inventory down to more normal levels. Building permits for new homes have slowed dramatically and the builders and developers are sitting on lots except for presold homes with substantial nonrefundable down payments. The new construction segment of the Atlanta market is a buyer's market while the resale segment is approaching a level playing field while on its way to being a seller's market. We get that same “When will we hit bottom” question in Atlanta. When asked I respond with, we will know when we hit the bottom about four months after we hit it. Trying to time the real estate market is like trying to time the stock market, it just isn’t going to happen with any certainty.

I would be curious to know how the market is in Denver regarding new construction vs. resale. In the northeast quadrant of Atlanta resales are out selling new construction 4 to 1. The builders are offering deep discounts which is adjusting the inventory down to more normal levels. Building permits for new homes have slowed dramatically and the builders and developers are sitting on lots except for presold homes with substantial nonrefundable down payments. The new construction segment of the Atlanta market is a buyer’s market while the resale segment is approaching a level playing field while on its way to being a seller’s market.

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