Market Conditions

There are currently 98 blog entries related to this category.

Nowadays, homeowners pick a neighborhood, which features cool lofts, condos, and buildings that reflects their unique personality.  They refuse to have one of those cookie cutter homes lining the streets that are seen in the neighborhoods they grew up from.  In the Denver area, finding a home can be a bit daunting. 

Denver has several urban neighborhoods.  The neighborhoods feature excellent lofts, condos, and buildings with their own charm and uniqueness.  These neighborhoods are also situated near bars, restaurants, museums, shops, and several hotspots.  In Denver, there are five leading urban areas and these include the following:

 
  • Lodo:  Lodo or lower downtown is synonymous with Denver’s nightlife.  The area has several sports bars,
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IBC Holdings LLC from Denver has purchased a 1.2M-sq.ft. industrial building in Westminster, which used to be home to 5,000 tech employees. 

The building was purchased as a joint undertaking with Boston-based Long Wharf Real Estate Partners LLC.  The building is home to Avaya, a research & development facility built by Western Electric in 1970. 

Jason Addlesperger, Dave Lee, and Frank Frederick of Newmark Knight represented both the buyers and sellers. 

According to Brian Mott, Managing Director of IBC, the building will offer state-of-the-art facilities to office and industrial users.  The addition of a multifamily component and industrial buildings facing Huron and Pecos streets are also being considered. 

New Jersey-based

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Denver’s Adoba Eco Hotel & Suites, a local hotel developer, recently gained financial boost after it received a $75M investment from Delaware’s M1T Partners LP for its expansion. 

An SEC Registered Investment Advisory, M1T uses funds to invest in underfunded opportunistic projects, developmental projects, as well as special situations, as mentioned in a news release. 

Adoba President and CEO, Jim Henderson stated that the company is able to create LEED-certified hotels through the construction of new buildings or by renovating existing ones, enabling the creation of green jobs and for the next five years, which will revolutionize the hospitality sector. 

Adoba calls itself the hotel sector’s first self-sustaining LEED certified hotel

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Both home sales and home prices are continuing its upward trend that started last year.  Average home prices went up by 2.1% and closed transactions also shot up by 17.8% compared to last year’s levels, according to the October RE/MAX National Housing Report.  The continuing drop in inventory is a significant issue in several markets.  Low inventory levels has resulted in higher prices and limited the choices for homebuyers.

Margaret Kelly, CEO of RE/MAX, LLC said that as fourth quarter of 2012 ends the market is still showing a considerable increase in prices and sales in the Denver area.  But she also said that this kind of recovery is still unstable.  The strength of the market will still depend on inventory supply, reasonable lending,

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Residential prices are quickly rising back to their pre-real estate bubble prices. This is brought about by a lot of competing buyers and a because of the low supply of available homes.  According to Metrolist Inc. statistics is showing an upward trend.  Single-family homes have been sold for a median price of $250,000, which is almost the same price back in 2006 before the economy started tanking.  The prices of these single-family homes already shot up by 8.8% in October compared to last year’s prices.  According to Metrolist Inc., so far that’s the highest rate of increase seen for detached homes since the early 2000s. 

 

But experts are giving everyone a word of caution, not all communities in the area are experiencing the same upward

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A unique group of ranchers and sportsmen from Colorado are planning to protect 220,000 acres from gas and oil drilling.   They are offering $2.5 M for the land.  This was the cost of the leases a decade ago when it was auctioned off by the Bureau of Land Management however this offer was rejected for being too low.

 

crystal-river-fog-iii_-daveshowalter_400_01The Thompson Divide Coalition said that it can come up with $50 million to buy back the nonproducing leases.  The land spreads throughout five counties from Glenwood Springs.  This area supports the  region’s agricultural and tourism economies.  They are providing a non-confrontational battle and stirring away from complex litigation with their offer.  On the other hand, the Front Range activists are waging a battle with thes leasing

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Based on recent reports conducted in Denver, the city’s residential real estate market has seen several notable increases this year, which is a trend that’s particularly driven by Denver Luxury Home Marketthe sales of luxury residences. Statistics gathered by numerous real estate companies point out that the number of lavish dwellings sold during last month was more than double than that sold during October of 2011.

Research also shows that the houses tagged and sold above the $1 million dollar mark went up from 23 of October last year to 50 during the same month of this year. “Luxury home sales are starting to move up the food chain,” says a broker from Kentwood Real Estate. “There is a kind of a feeding frenzy for homes up to $1.5 million. When you get beyond that, the

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The real estate market in Denver, Colorado, continues to exhibit steady recovery, recent statistics show.

Denver homes sales this September rose 17 percent, with the median sales price estimated at $282,305, a level accessible to most potential buyers. During the month, a total of 3,949 residences were sold at prices 11 percent higher than those posted in September 2011.

 

An upward pressure is exerted on prices by the depleted home inventory in Denver which, realtors observed, has ebbed to its lowest level in thirteen years. At the same time, there are indications housing demand has accelerated. The average period of time that a residential property stays on the market was reckoned at sixty-four days in September 2012, compared with the 105

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A report released Monday by the Apartment Association of Metro Denver and the Colorado Division of Housing, states that the apartment vacancy rate was down from last year’s 4.9% and it was also down this year at 4.8%.  But its lowest drop was at 4.3% during the third quarter of 2012.

It was in the third quarter of 2009 when the vacancy rate rose but for the past twelve quarters the vacancy rate has significantly dropped compared to the previous year.  Areas like the Boulder/Broomfield area, Adams, Arapahoe, and Jefferson counties felt the vacancy rate deteriorate from the third quarter of 2011 to 2012.

Supply will continue to be a factor according to industry observers.  Ron Troupe, Real Estate professor at Burns School of Real Estate and

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A number of national investors are flocking to Northern Colorado because of its booming economy.
Northern Colorado is attracting the attention of many national investors because it offers quality assets that come at low prices.  This part of the region is considered as a tertiary market compared to the larger markets of New York and Denver.  Realtec’s Christensen explains that a tertiary market holds about 50,000 to 250,000 residents.  


Northern Colorado presents a more stable economy compared to other states because it shows a lower unemployment rate compared with the other regions.  This is one indication that the economy in this state is more stable than other areas.  It is reported that Fort Collins holds an unemployment rate of 6 percent while the

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