Tag Archives: Douglas County

Market Watch Metro Denver

This past weekend I worked with 4 separate buyers.  Sounds exhausting?  Well it was, but not how you would think.

Typically when working with a buyer you set appointments, probably 5-7 on homes that might fit their budget and other criteria.  Well those days are past.  Now we are lucky to see that many homes in one outing.  The most homes I showed to one buyer this weekend was 4!  That’s because that’s all there were!

Buyers are Soaking up the Housing Inventory!

What’s happening in the Denver market?  We have a shortage in inventory and an abundance of buyers.  Our inventory is getting soaked up by anxious buyers wanting to become home owners before the interest rates go up.

Take a look at the 7-day stats for these Metro Denver Counties, look at the number of listings taken vs. the number of Under Contract.  That should explain why finding homes to look at is so difficult right now.

Sales Activity in Metro Denver Counties over the last 7-Days

MarketWatch-Denver

City and County of Denver

Jefferson County

Jefferson County

Elbert County

Elbert County

Broomfield County

Broomfield County

MarketWatch-Arapahoe County

Arapahoe County

Adams County

Adams County

 What Does This Mean for Buyers?

If you are in the market to purchase a home, you will need to be ready.  Many homes are receiving multiple bids that means buyers who are qualified to buy and can prove it will win the bid.  Bidding wars can be brutal but have become a fact of life in the Denver real estate market, so be ready to bid over list price.  If you are a buyer who has a contingency ( a house to sell) sell your home and remove that contingency.  The reality is, the home owner is going to pick the BEST bidder from all the offers. The best may or may not be the highest net to them.  Sellers want to be assured their home will sell, so they look at many factors, including the buyer’s ability to sell, contingencies and net proceeds.

What Does This Mean for Sellers?

After many years of getting beaten up sellers are finally in the driver’s seat when it comes to negotiation.  Sellers are enjoying the luxury of very few days on market, multiple offers, over list price offers and quick closings.

Still sellers need to beware that many buyers will over bid your home knowing it won’t appraise.  If the buyer doesn’t have the means to pay the difference you won’t be enjoying that extra cash from the sale of your home.  If this is the case be sure your buyer has the ability and is WILLING to pay the difference. If they aren’t able and not willing their offer is just a cloud of wishful dust.  All you will have to show from this contract is wasted time!

What Does the Future Hold?

At this rate I am wondering if in April we will reach a point where there are ZERO listings to sell?  Is it possible?  I certainly hope not.

What do you think? Will we run out of properties to sell or will sellers decide to get into the market?

By the way out of my 4 buyers I found homes and went under contract for two of them.  The other two are still in the market.  We will continue our search!

Call direct 720-279-4599

About Kristal Kraft, Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!

Douglas County Home to Iconic Store – American Girl

American Girl, formerly an online retailer opened a wonderful store in Park Meadows Mall this past spring.  The store opening was quite an event bringing in beautiful little girls from all over the Denver metro area.

Several months later the store is still impacting the area.  When I converse with people who are relocating to the area, all I need to do is mention Park Meadows and frequently (depending upon the age and gender of their family) I hear, “Oh, yes!  That’s where the new American Girl Store is!”

Yes, it is.  Douglas County, Colorado a quiet suburb of metro Denver has found fame thanks to the legendary American Girl dolls!

My hubby has a granddaughter who just turned 9.  I mentioned to him, if he wanted to be a “hero” he should shop for her present there.  He listened, but not first without checking with Mom.  Of course Mom thought it was a wonderful idea for Gramps to present the 9-year old with her dream-come-true doll!  So he did.

Now he’s created a monster!  These lovely dolls are made to be accessorized! The character dolls have a wide assortment of wardrobes available for purchase!  In fact there is a styling salon in the store so the dolls can be coiffed when the need arises.

Next door at my favorite restaurant, White Chocolate, they have made it known they are “doll friendly.” So when little girls show up with dolls in tow, they can be seated in special doll seats at the table, just like the family siblings only more miniature.

So American Girl found their niche, they cater to the dreams of 9-11 year-old females.  Apparently that niche is well stocked in Douglas County, Colorado!

Looking to relocate to Douglas County?  Search for homes in Lone Tree, Parker, Castle Rock or Highlands Ranch here!

About Kristal Kraft, Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!

Douglas County Ranks High on Wealth Scale

Douglas County Colorado Enjoys the Good Life

According to Forbes metro Denver suburb county, Douglas County ranks 8th on the wealth scale.  Residents have an average median income of $97,480 annually.

Douglas County has also been one of the fastest growing counties in the country of recent years.  People are attracted to this south metro Denver location because of the excellent school system, abundance of newer housing, planned communities, proximity to Denver Tech Center, Downtown Denver  and views of the Rocky Mountains.

Douglas County is known to be partial to preserving open space.  Seeing sprawling horse ranches, county parks and greenbelts is by design, not accident.

Neighborhoods Within Douglas County

Popular communities within Douglas County are Highlands Ranch, Lone Tree, Roxborough, Parker, Larkspur, Sedalia and Castle Rock the County Seat.

Each community has a different flavor.  For instance Highlands Ranch is a planned community with a variety of homes across many price ranges.  Highlands Ranch offers four outstanding indoor recreation centers with all types of sporting activities and exercise equipment.  These amenities are included in the monthly HOA dues.

Nearby Parker has a town center and many strip mall type stores, but it also offers rural living that is very attractive to horse owners and those who prefer larger lots.

Castle Rock has both and old downtown and a brand new shopping area.  It is home to a large Outlet Mall too.  Castle Rock has homes from very affordable up to luxury estates.

Roxborough is a unique community located in the foothills.  Housing in this area is also diverse in price range.  The famous Roxborough State Park is nearby, featuring red rock formations so spectacular, National Geographic named it America’s Most Beautiful State Park. Golfers in the know will recognize the popular Arrowhead Golf Club.

The City of Lone Tree is also located in the northern part of Douglas County, adjacent to I-25.  This progressive community is fairly new as Cities go and has it’s own Mayor and City council to govern.  Lone Tree is the most convenient to Downtown Denver thanks to the RTD Lightrail Station located at Lincoln St.  This future “GoBurb” community enjoys the convenience of suburban living with clean and reliable public transportation.

Price ranges of homes are

Douglas County 2009 2010 Change
New Listings 1,128 1,210 +7.3%
Sold 225 294 +30.7%
Median Sold Price* $265,000 $291,500 +10.0%
Average Sold Price* $314,557 #335,457 +6.6%
Percent of Sold Price to List Price* 96.6% 97.1% +0.5%
Total Days on Market 115 108 -5.9%
Active Listings NA 2,853
Pending Sales** NA 52

Photo Credits: Kristal Kraft taken of Parker home with a view of Pikes Peak in the distance.

Credits: Colorado County map and Statistics from Forbes.com

About Kristal Kraft, Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!

Tornadoes Touchdown

Last night Larry announced he was going up to the top of the ridge because there was a tornado watch in Douglas County. Of course I wasn’t going to let him have all that fun alone, so I grabbed the camera bag and joined him.

On the way to I-25 he decided it would be a good idea to fill up the gas tank, since it was registering empty. As much as I hated to waste time, we stopped for fuel. Running out of gas while storm chasing or worse being chased by a storm would be a real bummer!

As we pulled into the Conoco in Lone Tree, we saw it.

A long tall skinny funnel cloud was touching the ground just to the SE of us. It was huge. Yes, it was a real tornado!

I fumbled around grasping for my Canon while watching in awe and surprise.

Last time I saw a tornado in Douglas County, I didn’t even know I was watching one. It was a big, black nasty square cloud, not a neat, trim funnel. Today’s tornado was a classic. There was no wondering what it was.

Luckily but at the same time disappointing, the funnel dissipated into thin air. Gone.

I never got time to snap a shot. Darn!

When the gas tank filled up, we took of to Surrey Ridge to hang out and see if we could spot another one. The clouds were swirling and churning, but the real show was over. The temperature had dropped 30 degrees and the elements that create a tornado were gone.

We weren’t the only storm chasers on the road. There were many others out taking in the views. The most interesting and scary were the news helicopters in the air. I would love to have a seat in one of them…what a bird’s eye view.

Maybe in my next life…

Enjoy the storm chaser photos, but keep in mind this really isn’t “normal” for Colorado. We aren’t known as tornado alley!

Visit this link to learn more about Tornado Safety.

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About Kristal Kraft, Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!

Denver Real Estate Sales by County

Each month since April 2008 our sold statistics get better. Homes are selling, in fact we are selling more homes this year than last. No we aren’t tearing up the charts, but improvement however modest is good.

Below is a compilation of the sold stats for one week in July for both 2008 and 2007.

Sold Numbers for the Week of July 7, 2008

Average metro – area home sales prices

County

Sales
Closed

Average
Sale Price

Same Week
a Year Ago

Adams

174

$202,375

171

Arapahoe

191

$281,709

210

Boulder

165

$349,394

140

Broomfield

20

$328,630

45

Denver

367

$270,680

234

Douglas

197

$369,036

180

Jefferson

115

$284,528

218

Total

1229

1198

If you are interested in learning the statistics for your neighborhood, please contact me.

Subscribe to Denver Dwellings

About Kristal Kraft, Denver Realtor

Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson. My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales. So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!