Denver Housing Market = “Most Improved”

According to a recent report from Bloomerg Businessweek, Denver has earned a spot as the “most improved U.S. housing market.” Jim Nussbaum, a broker associate for Kentwood Real Estate in Greenwood Village states, “We never went up as fast in terms of value, and we never came down as fast. Last year, [buyers] were like deer in headlights—they were afraid to move. When the stock market improved, they started to feel better.”

The article also attributes Denver’s improved housing market to “an influx of renewable energy companies” which are creating new jobs.

Click here to read more.

1800 Larimer: Denver’s Greenest Building

The president and chief executive of development firm Westfield Co, Rich McClintock, had a vision of creating a space that could “enhance the employee experience and improve worker productivity.” His end product: 1800 Larimer. The Greenest building in Denver.

Are you wondering how one would go about making employees more productive? Rich McClintock has that covered in more than 1 way.

First,  each employee can control the temperature of their own work space by utilizing a diffuser that is connected to an “under-floor air system that provides a constant flow of fresh air” – while saving as much as 50 percent savings in energy costs.

With floor to ceiling windows allowing natural light to flood in, the “spacious fitness center overlooking the 17,000-square-foot garden terrace,” and the use of sustainable materials like bamboo cabinets and cork flooring, it is evident that McClintock did not side step over any detail.

Some of the new inhabitants include Xcel Energy, Frederick Ross Co., and Citywide Banks. “The top four floors, which boast panoramic views from their floor-to-ceiling windows, are still available for lease!” (read more).

Denver Home Prices on the Rise

The IAS, (Integrated Asset Services) a Denver-based default-mortgage services company, affirmed that Denver-area single-family home prices have risen to 5.6% from a year ago. Despite the rise in home prices, the IAS also notes that “metro-area home prices are still below their 2006 peak by about 7.4 percent.” (Read more)

For the full IAS House Price Index Report click here.

Denver’s Housing Market Continues to Improve

 The Colorado Business Journal reported Tuesday that “Sales and selling prices of existing homes in metro Denver improved again in February.” Gary Bauer, an independent residential real estate broker in Littleton and Metrolist analyst, stated “Denver is coming out of the recession a little faster than everyone else. People are out looking at and buying homes, looking at the affordability factor and marketability factor.” (Read more).

New Plan to Speed up Mortgage Modificaitons

New provisions are on the way for Obama’s Home Affordable Modification Program! coming June 1, 2010, these provisions will help speed up the process of mortgage modifications.  Read more of Broderick Perkins Realty times article. (read more)

Good News for Denver’s Vacancy Rates

The Colorado Real Estate Journal is predicting positive growth in Denver’s vacancy and economic markets in 2010.

“MULTI-FAMILY BUYERS MUST BE CREATIVE IN YEAR AHEAD”

Mark Favro, part of the team at the Colorado Real Estate Journal, predicts the year of 2010 to bring growth to the Denver apartment market, decreasing vacancy rates to 7.51%. Favro states, “Approximately 4,500 new units were delivered in 2009 and fewer than 2,100 units are schedules to be delivered in 2010, after which time new construction will be minimal. This lack of new construction coupled with positive job growth, or at least stemming job loss, should continue to decrease vacancy rates and apartment owners again will have the ability to increase market rents and decrease concessions offered to tenants by late 2010.” With vacancy numbers running as high as 8.29% and multifamily investments down by 75% in 2009, this upcoming trend will be a welcomed change of pace.  – Colorado Real Estate Journal February 17-March 2. pg. 8AA&12AA

“SIGNS POINT TO APT. IMPROVEMENT”

D.U.’s Professor at Daniels College of Business, Dr. Gordon Von Stroh, gives a positive outlook for Denver’s vacancy rates and economy; “If our economy moves more positively, vacancy rates could have a serious drop.” Lauren Brockman of Allied Realty Services Ltd. backs Von Stroh and says “Denver is a bright spot in the country” and is “considered fundamentally one of the better markets. Denver has fairly stable rents, good occupancy and net in-migration.” – Colorado Real Estate Journal February 17-March 2. pg. 4 & 8.

We Want Your Opinion!

We want to know what you consider important features when you are considering renting. What makes or breaks your decision to sign a lease?

• Having a washer or dryer inside (hook-ups)
• Having the home or apartment be staged
• Incentives to lease/buy like gas cards, gift cards, restaurant gift cards
• Knowledgeable agents and company
• Energy Efficiency

Let us know what you think! We ARE listening!

Good News for Denver’s Housing Market

The Denver Posts’ Margaret Jackson reviewed Denver’s Housing Market and things are looking good.

“Median home prices in metro Denver soared in January compared with the same month a year ago, even as sales during the same period declined, according to data released Tuesday. ” Margaret Jackson The Denver Post  (read more)