Denver Real Estate Blog 
Denver’s Existing-Home Prices Down in January But Better Than Most Cities
Wednesday, April 8th, 2009 at 7:59am. 271 Views, 0 Comments.
Prices of existing homes in the Denver area declined 2.7 percent in January from the previous month, Standard & Poor’s reported on March 31. This is a much steeper decline than the two previous months.
Even so, when compared to the previous January, Denver's existing-home prices fared better than all but one of the 20 cities compared in the monthly S&P/Case-Shiller Home Price Indices report.
Denver showed an existing-home price decline of 5.1 percent between January 2008 and January 2009. Dallas had a smaller decline of 4.9 percent. The average drop for all 20 cities was 19 percent.
The report said Denver had a home-price index of 122.33 in January, meaning home prices as of that month were 22.33 percent higher than in January 2000.
Home prices in Denver…
5 Colorado Cities Named Best Places for Businesses and Careers
Tuesday, April 7th, 2009 at 9:12am. 328 Views, 0 Comments.
Five Colorado cities made the top 40 of Forbes magazine’s latest list of the best places for business and careers, reported the Denver Business Journal. Fort Collins ranked No. 2, Colorado Springs, 10; Denver, 14; Boulder, 20; and Greeley, 37.
Forbes evaluated the 200 largest U.S. metro areas (population of 241,000 or more) on 11 criteria. The criteria included cost of doing business, cost of living, job-growth trends, crime rates and cultural attributes.
The criteria included two new measurements: projected job growth and fewest sub-prime mortgages as a percentage of total originations over a three-year period.
Fort Collins ranked in the top 15 of U.S. cities in four categories: educational attainment of its population (6th), past income growth (9th),…
Luxury Homes More Affordable with Decline In Jumbo Loan Interest Rate
Sunday, April 5th, 2009 at 9:16am. 328 Views, 0 Comments.
It might become easier to buy a house worth $1 million or more, writer Prashant Gopal reported on BusinessWeek.com, because rates for jumbo mortgages could fall to more affordable levels.
The average interest rate for a jumbo loan has dropped from a high of 7.9 percent at the end of October to 6.6 percent. That is the lowest average rate since the end of 2007, according to financial publisher HSH.com in Pompton Plains, N.J.
The underwriting requirements, however, are strict. Borrowers typically need a down payment of at least 20 percent, a credit score of above 720, full financial documentation, and at least six months of cash reserves. In some markets, the down payment requirement is as much as 40 percent.
Declining interest rates for jumbo loans is…
Listing Prices in Littleton, Colorado, Are Rising
Saturday, April 4th, 2009 at 11:44am. 299 Views, 0 Comments.
Houses for sale in zip code 80125 – home to Littleton, Colorado -- boast rising listing prices, BusinessWeek.com reports. Home-buying activity this spring is happening in middle-class neighborhoods like Littleton.
The publication asked Altos Research in Mountain View, California, to find the zip codes large metro areas where listing prices were actually rising. They had expected those zip codes to be in places where competition was pushing up asking prices as homes changed hands quickly. Instead, the study found that:
Denver Ranked in Top 10 Golf Cities
Friday, April 3rd, 2009 at 11:31am. 307 Views, 0 Comments.
Forbes Traveler rates Denver as one of the country’s Top 10 Golf Cities. What makes a great golf city? Paul Rogers, senior editor at Travel & Leisure Golf, says "it starts with the concentration of courses—great golf cities have at least several good public courses along with private clubs that have history and some kind of golfing soul.”
“Denver has at least 10 quality public four-star courses that you can play for under 60 bucks," points out Travelin' Joe Passov, senior editor of Golf Magazine.
"You can feel like Superman here because you hit the ball a lot farther at 5,000 feet,” says Jon Rizzi, publisher of Colorado Avid Golfer, referring to Denver’s high elevation.
And the unique landscape adds to the golfing experience. For example, Arrowhead, a…
U.S. Mortgage Rates Fall To 4 Decade Low
Thursday, April 2nd, 2009 at 12:29pm. 304 Views, 0 Comments.
Borrowing money for home loans is now at its lowest level in almost four decades according to today's Denver Business Journal report.
Freddie Mac says the average 30-year fixed-rate mortgage fell to 4.78 percent this week. This is a full 1 percent lower than a year ago and the lowest 30 year rate since Freddie Mac started track rates in 1971. Also, the average one year adjustable rate mortgage hit 4.75 percent this week.
Frank Nothaft, Freddie Mac's chief economist, said “Mortgage rates followed other interest rates lower this week amid reports of slower economic growth. The final estimate of economic growth in the fourth quarter was revised lower and personal incomes fell 0.2 percent in February, below market consensus.”
Denver Is Amongst Top Ten Cities Where Americans Are Relocating
Wednesday, April 1st, 2009 at 4:43pm. 258 Views, 0 Comments.
According to Forbes.com's recent report, Denver, Colorado, rates amongst the top ten U.S. cities where Americans are relocating. In 2007, Denver increased its population by 2.17% and in 2008 Denver was the 10th fastest growing metro area in the U.S. at 2.09%.
The 10 cities on Forbes’ list include:
Denver recently topped the list as the most desirable place that Americans desire to relocate to. Both newcomers and residents alike enjoy Denver for its many days of sunshine, activities, culture, and business opportunities.
Potential First-Time Home Buyers Say Now Is The Time To Buy
Monday, March 30th, 2009 at 11:14am. 214 Views, 0 Comments.
In a survey of 1,000 prospective first-time home buyers, 78 percent of the respondents said now is a good time to buy a home despite widespread concern about the economy, Daily Real Estate News reported on March 26. Also, 68 percent said now is a better time to buy than six months ago. The survey was conducted in early March for the CENTURY 21 First-Time Home Buyer Survey.
Prices are the driving motivation for potential first-time home buyers. Eighty-five percent consider current home prices affordable. Most respondents are in the market for single family homes.
More than half of potential first-time home buyers are considering purchasing a foreclosed or short sale home, and 63 percent are open to purchasing either a “fixer-upper” or “as-is” home.…
Mortgage Interest Rates Go Even Lower
Sunday, March 29th, 2009 at 1:29pm. 261 Views, 0 Comments.
The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 6 basis points to 5.03 percent in February. The average interest rate on 15-year, fixed-rate loans of $417,000 or less decreased 19 basis points to 4.92 percent in February. The reported rates depict market conditions prevailing in mid- to late January.
The agency report also included the following statistics:
- Initial fees and charges were 0.57 percent of the loan balance in February, down 0.07 percent from 0.64 in January.
- 47 percent of the purchase-money mortgage loans originated in February were "no-point" mortgages, up from 41 percent in January.
- The average term was 28.1 years in February, down…
Sales of New Homes in Colorado Rose 6.6% in February
Saturday, March 28th, 2009 at 12:08pm. 211 Views, 0 Comments.
The Denver Business Journal reported that February new-home sales increased 6.6 percent in western states, including Colorado, compared to the national sales increase of 4.7 percent, according to the U.S. Census Bureau.
Some 65,000 new, one-family homes were sold in the West in February, up from 61,000 in January. This sales figure, however, is substantially lower than the sales in February 2008 of 142,000 homes. The pace of February new-home sales in the West was also less than any month of 2008.
The U.S. Census Bureau also reported that the seasonally adjusted estimate of 330,000 new houses for sale at the end of February represents a supply of 12.2 months at the current sales rate.
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