Ruby Hill (Denver, CO)
By Brian Petrelli, MBA, GRI
(The Brian Petrelli Team - Metro Brokers)
Our team has been receiving several emails and calls asking about Ruby Hill Denver Homes for sale the past month. While the current demand from homebuyers continues to outnumber the available homes, we continue to watch the active inventory of Denver Homes every day, waiting for properties as they are entered into the MLS. We recently prepared this report for one of our clients, and thought it was worth sharing here.Some of the Key Points: Right now, there are 5 active Ruby Hill Homes on the market. Right now, there are 1458 active Denver Homes on the market. There are Currently 12 under contract Ruby Hill Homes on the market. There are currently 1735 under contract Denver Homes on the market. There are 2 Denver foreclosures on the market. Average prices increased $38,393.00 over the la...
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By Todd Groth
(Bev Groth Properties)
Recent statistics have come out from Land Title Guarantee, the title company we, at Bev Groth Properties use for all of our closings.  They compare 8 of the major sections of the Denver area MLS.  This latest report included 4th quarter 2009 compared to 4th quarter 2008 on "Avg Days on the Market" and "Avg Sales Price".  One area stands out....the Southwest part of Denver which typically less expensive but has some nice neighborhoods within a short commute to downtown and easy access to the mountains.  Southwest Denver actually showed a modest increase in average sales price ($140,000 or so), and a reduction in average days on the market.  The bottom line is that this area may have some upside as there is more demand for homes under $200K and new light rail lines improve the ability for...
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By Wes Fisbeck
(Your Castle Real Estate)
Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonality)-          DOM dropping-          Stability in average sold prices and sold price as % of list-          Sold price as % original price UP a lot - banks are getting better at pricing-          Number of expired listings down Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as AUN. By contrast look at DSE (southeast Denver County).  -          listings are up (they should be - seasonality)-         ...
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By Wes Fisbeck
(Your Castle Real Estate)
Colorado Mortgage Broker Licensing In response to the troubled national real estate market and Colorado's high volume of home foreclosures, efforts have increased to make higher caliber professionals involved in real estate. Licensing, rules and regulations have become more stringent for agents, appraisers, title companies and mortgage brokers.  In regards to mortgage brokers, the below items are mandatory.  No longer can someone open up the Yellow Pages, claim to be a mortgage broker and then be compensated for placing a loan --- what a novel concept.  Before committing to a mortgage broker, please make sure that they are licensed in Colorado by searching for them on the following link:  http://eservices.psiexams.com/crec/search.jsp LicensingAll mortgage brokers conducting business in ...
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By Wes Fisbeck
(Your Castle Real Estate)
TOPIC: Improving conditions in Denver's  market There are some signs of strengthening in our Denver market.  The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007.  Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because their property is not selling, but lower inventory implies a strengthening market.  Remember, the Denver area had housing inventory of 31,989 units in July 2006. Home sales rose 14% to 4,265 in September compared to the same month last year.  This is due almost entirely to the lower-end of the market (under $180K) selling like hotcakes. October's median selling price for single-family homes decreased 12% to $206,000 from the same month of '07, and...
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By Wes Fisbeck
(Your Castle Real Estate)
 Topic:  Special considerations for Investor loans The talk around the water cooler these days is all about LOANS. Who can get them? At what price? What if I already have a few loans, do I still qualify?  A year or two ago the question was at what price do I get a loan (those were the days!).  Today it is "am I still in the game?"       Here's the deal:  if you have an owner occupied loan and 3 investor loans you cannot buy any more properties and get Fannie Mae / Freddie Mac financing, meaning you can't get a conventional 30-year fixed loan. Now, my hope is that someone reads this and tells me I'm wrong. That would be great!  But as far as I know that is the case.      Where does this leave you?  You can pursue loans that are warehoused by lenders, meaning they are not sold on the back...
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By Wes Fisbeck
(Your Castle Real Estate)
Topic:  Investor Series:  Why sewer scopes are important A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe and videotape the sewer all the way to the mainline. This will tell you  and the-buyer what the condition of the sewer is.      So let's see, we pay to have the furnace inspected but a new furnace will only be about $2,000. We pay to have the roof inspected but that's probably a $4,000 job. So why don't we always inspect the sewer?  One reason is because, let's face it,  Realtors want closings. Many figure if they keep their mouth shut and...
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