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It is legit this time! Housing Recovery is on!

Posted at 8:29 AM, Nov. 29, 2012

 The housing recovery is really on! According to Case-Shiller and the chairman of the Index Committee at S&P Dow Jones Indices, U.S. National Home Price Index recorded a 3.6 percent gain in the third quarter of 2012 over the third quarter of 2011, marking the sixth consecutive month of increasing prices. In September 2012, the 10- and 20-City Composites posted annual increases of 2.1percent and 3.0 percent, respectively.

Denver, one of the Composite Cities, showed positive increases across the board, month over month and year over year. Up 6.7%; showing better than the National Index of +3.6%.

Contact me for more local information.


True sign of a housing recovery

Posted at 8:54 AM, Jun. 20, 2012

 We’ve talked a bunch about how the foreclosures, short sales and bank owned homes on the market have hurt home prices, but guess what? It is the pricing of the foreclosures that is driving prices up across the board.  

Significant price increases in bank-owned foreclosures are driving gains at the national, regional and local levels, helping home prices turn the corner with small quarterly and yearly gains. National average prices for bank-owned foreclosures (REO) were up 8.1 percent over a year ago.

Looks like we are still heading in the right direction.


Seeing Signs Everywhere?

Posted at 12:30 PM, Apr. 16, 2012

As of today, there are 28,608 homes in the marketplace in the Greater Metro Denver Area. That is a big number, but here’s the good news, 11,672 of those homes are Under Contract and waiting to Close. That is 41%! So, you may be driving around town and noticing a ton of For Sale signs in your neighbors’ yards, just remember, almost half of those are already Sold! 


Rent Vs. Buy

Posted at 6:53 PM, Apr. 5, 2012

Rent Vs. Buy

64% of renters have aspirations to someday own their own home. 70% of renters think that owning is superior to renting. 84% of the general population believes that owning a home makes more sense than renting.

-Fannie Mae National Housing Survey

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Colorado Housing Market Update

Posted at 5:56 PM, Apr. 3, 2012

 The Housing Market in Colorado

Let’s  take a quick look at the main factors determining Colorado’s housing market; Unemployment, Prices, Affordability, Confidence, Interest Rates, Distressed Home Market, Vacancy Rates, and Absorption.

Unemployment in Colorado is at 7.8% compared to the National Average of 8.3%. At this level, Colorado has one of the lowest unemployment rates and is trending down. This is creating greater confidence in the overall market.

Home prices in Colorado have increased slowly, about 2.2% is all, but is expected to continue to increase as this market improves.

Affordability is at an all time high in Colorado. The rental rates are way up and prices are way down, that along with record low interest rates make buying a house in Colorado incredibly affordable.

Colorado’s distressed market is decreasing at a rate that was unexpected. We are now at 2006 levels and dropping continuously. There is the matter of “phantom inventory” of foreclosures that still threatens to increase these numbers and is yet to be determined. This is something to keep an eye on.

The vacancy rates are at a record low in the Metro Denver area. This means that there is real demand for rentals. This makes investment home buying very attractive.

Absorption Ratios deal with the ratio of homes on the market compared to homes sold. It shows, along with other things, how much active inventory we see and how long that inventory of homes will linger on the market. Colorado is seeing low absorption ratios and that means our inventories are dropping faster than expected. Average Days On the Market, DOM, is down 15% over last year!

Another key factor is that there are many buyers and sellers dealing with multiple offers. This means that buyers cannot expect to come in with “low-ball” offers anymore and sellers can expect prices to climb.

There are positives to both side of the transaction, buying and selling. But one thing is clear, these factors all point to one thing, the shift is on from a buyer market to a seller market. Hold on and happy buying… and selling!

Watch this video to get a more detailed explanation of each of these factors. Or you can always contact me directly. Jeff Hansen, RE/MAX Professionals.

 

Economic Outlook

Posted at 8:58 AM, Mar. 28, 2012

I have been reading, and I am sure you have run across this recently as well, the US economy is improving rapidly. The effect of this improvement is a mindset that is more favorable to big investments. That mindset causes people to make investments in things like homes and investment properties. I know this to be true because I, as a Realtor, have seen a huge increase in investment properties over the last 6 months. If I want to write an offer on a home or even a condo for an investor, depending on the price range, we had better get it in in the first few hours and it better be a full price offer or better or we miss out! Yes, folks the bidding wars are back. Interest rates are at incredibly low levels and prices have been down for some time now, it was just a matter of time for mindsets to change and pent up demand to spill over into the housing market. What is causing this? The increased confidence in the overall US economy. It ebbs and flows. Today it flows! 


Confidence is up!

Posted at 11:00 AM, Mar. 26, 2012

 The Consumer Confidence Index keeps rising; up over 9 points for February to 70.8. Plus the Present Situation Index is also up from 38.8 in January to 45. The short term looks good too with an increase of the Expectaions Index of over 11 points to 88!

OK, so what’s it all mean? Buyers are back and ready to make deals. This is for the entire economy, and that includes real estate. So, this is yet another indicator that the housing market is growing stronger, month by month!


Home sales are up again!

Posted at 9:15 AM, Mar. 21, 2012

 Colorado is definitely showing this! Pending home sales still on the rise!

 
http://media.rismedia.com/video/news/1881/7915/59729/3686692/
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GDP to get help from housing, finally!

Posted at 7:43 AM, Feb. 27, 2012

 http://bit.ly/A137om

Housing to have an impact on GDP for the 1st time in 7 years!

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Posted at 6:16 PM, Feb. 13, 2012

More talk of better lending! 

 


Will 2012 Be The Comeback Year For Housing in Colorado?

Posted at 9:48 AM, Feb. 9, 2012

 What drives housing markets? I would have to say, confidence. What drives confidence? Income. How do you get an income? By having a job. It is clear that the best indicator for a housing recovery is jobs. According to Colorado Realtor Magazine, many of the indicators are moving in the right direction. The Census Bureau shows that Colorado has seen a net increase in population of over 31,000 people, and at the same time exceeded expectations when it comes to the jobs numbers. Colorado was expected to have 8.4% unemployment at the end of 2011, down from 8.7%. As it turned out, as of January 1, 2012, unemployment was actually at 8% even. (The nation’s unemployment rate was at 8.5%.) So, the increase in population along with the decrease in unemployment indicates apositive jobs situation, don’t you think?

Jobs are here, home prices are down, and this State is truly beautiful. With all of those factors on it’s side, you got to believe that Colorado is primed for the 2012 recovery.

Taken by a friend in the lovely State of Colorado. Thanks, Jennifer.

This one I took in January 2012.


Colorado is growing but are there enough homes for these newbies?

Posted at 11:36 AM, Feb. 3, 2012

 Colorado is seeing a net gain of 31,000 new residents last year, according to the Census Bureau. Lower inventories of homes for sale and the lack of building means that we are looking a shortage square in the face. Here’s the breakdown; 8,854 single family homes currently on the market, compared to 13,714 the same time last year. That is over 35% fewer homes for sale. With that, coupled with the inflow of new Coloradans, we have ourselves the ingredients for a steamy batch of Shortage! Shortages in supply create a fierce marketplace. This fierceness could turn into bidding wars and ultimately, price increases. So, is it a good time to sell? Could be the best time to sell since 2008!



Home sales are up again!

Posted at 11:17 AM, Jan. 23, 2012

5% increase in existing home sales!

I’d like to think that the Hansen Group is doing their part! We were the #1 Closing team in our RE/MAX office for December!

Read more HERE


Who in the world would yell “Fire” in a movie theatre?

Posted at 8:07 PM, Jan. 11, 2012

 What happens if someone yells “Fire!” in a crowded movie theatre? It causes panic and people try to barge their way to the nearest exits. Even if that means they crush and trample others on the way out.  Others might stay and assist others out safely. But even then, the panic is so high that things get out of control and a larger percentage of people can get hurt than that should have if there was no panic to begin with. What if it was just a small, manageable fire? People would still get hurt in the panic. Some may even be too fearful to return to their seats and then might even miss the best movie they have ever seen! Panic causes people to do irrational things.

I have been hearing bad news in the real estate market for years now. And for the most part, for good reason. The real estate industry has taken a beating unlike most of us have ever seen. Lately, however, the news is better than is reported. Sales are up, investors are making incredible buys, sellers are finding creative ways to weather the storm, borrowers are getting excellent rates an great loan deals, etc. That however, makes for boring news. Isn’t it more fun to hear of the blood and guts? The stories of success always fall by the wayside. It is sad, but we all know it’s true.
Now, back to the fire in the movie theatre; The talking heads in the news media have screamed “Fire!” and we have all ran for the isles! We panicked! We foreclosed on our homes, we negotiated short sales, we walked away from our white picket fences. But, most importantly, many of us have shied away from the housing market as a whole. Sure, the housing market got bad there for a while. And because of that, I believe too many people have gotten too fearful to return to market. I look at it as the unfortunate few that never got up the courage to return to their seats in the movie theatre and missed an incredible show! Personally, I want to see the ending, I want to experience the drama, I want to have the wonderful experiences that this housing market still has to offer.
I have been tracking home sales for many years now, take it from me, although it is not the best market in history, it is surely not as bad as you have been hearing. And I can assure you, it is not appropriate to be yelling “Fire!”

By the way, Here’s some proof

 

State of the Inventory

Posted at 10:36 AM, Jan. 3, 2012

 Well, here we are again, the beginning of a new year. Fresh start. So, let’s talk about the new inventory numbers! Yea! Boring, I know, but important.

Metrolist shows that 8,854 homes are still available in Metro Denver. Down 13%. That is substantial. A double digit drop is great news. Usually, during this time of the year decreases can be attributed to sellers wanting not to market their homes for sale during the holidays. However, 2011 was different. Read this for more explanation.

One more indication that this market is healing; home closings are up 3% last month. Prices have leveled off and are virtually unchanged from last year. But the big change is that there are 32% more homes currently under contract compared to this time last year! Buyers are out there. They are taking advantage of the low prices and the incredibly low interest rates. And, more importantly, they are putting homes under contract, not just sitting on the fence anymore. Looks to me that 2012 is off to a fine start.

A slow recovery, albeit, but a recovery nonetheless. Stay tuned.


Home Search

Posted at 9:45 AM, Dec. 29, 2011

Want to buy a house in Colorado? Go to HERE and enter your Home Search criteria and start your search today!


RE/MAX Professeionals, Jeff Hansen, Colorado Realtor.
 

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Facebook Fan Pages for Local Cities in Colorado

Posted at 8:30 AM, Dec. 22, 2011

 I have set up a few Facebook Fan Pages for Local Cities in Colorado. You can become a fan of one of these pages and then receive updates on local events, city information shopping deals, etc. Choose your town and stay in touch!

Buying a Home in Colorado

Relocating to Colorado

Home in Denver

Home in Littleton

Home in Highlands Ranch

Home in Centennial

Home in Englewood

You can also follow me on twitter! @realtycolorado


Why is the housing market not recovering faster?

Posted at 10:15 AM, Dec. 15, 2011

 Wondering what is the hold up? Why is it taking so long for the housing market to come back? Have you read the Dodd Frank Bill? Look it up, it will show what is the hold up.

My opinion is that something needs to be done to ease up financing for good buyers.  Something needs to be done to the Dodd Frank Bill. Talk to your local representive to see what can be done.


Metro Denver Still Looks Good for Housing Recovery

Posted at 9:23 AM, Dec. 13, 2011

The inventory of homes for sale in Metro Denver has DECREASED by 21% over the last month and a half! What does that tell us? Ordinarily, I would think that the increase was due to the time of year. But, this year, I don't believe that. Most of the homes that are on the market this year are there because they have to be. For instance, job transfer, divorce, bank foreclosure, etc. These sellers do not have the luxury of being able to decide when they can take their home off of the market to account for the holidays. They have to bear the timeframe and sell now. Therefore, we are seeing less impact on inventory for that reason and more of an impact because of actual sales.

According to Metrolist, 9,495 homes sold in Denver and its surrounding areas since September 30th, 2011. 7,700 sold during the same time last year, that is an increase of over 23%! It shows that sellers are more aware of what is going on in the marketplace and are adjusting to it. They are making the proper moves in order to get to the closing table. I include banks in this as well. Many big banks are bringing in extra employees to aid in shuffling through the backload of bank owned properties and, more importantly, the short sales. Finding a way to adjust to the marketplace is the key to recovery.

Markets are not unlike rivers. As water flows, it encounters obstacles. What does water do then? It finds a way to adjust to what lies in front of it and flows around. The ability to adjust to its forces is what keeps it flowing. It may run into something that slows it down or speeds it up. Sometimes it falls too fast to a sudden crashing boom! It sometimes it slows to a crawl and pools up for a time being. But always at the other end of the pond, is the trickle that continues the water’s journey to the sea. It is important to remember that it doesn’t stop.

Recovery is coming. We flowed down the waterfall, crashed to the bottom, slowed to a crawl, pooled up and became stagnant for a bit, but now we are continuing on…


Great news in housing, 3rd Quarter numbers are in!

Posted at 9:25 AM, Nov. 30, 2011

 Wondering how the health of the housing market is? I know that there are many factors that drive markets and many driving factors have brutal for housing. Foreclosures, short sale madness, lending practices being too lenient and now too tight, I could go on all day... The good news is that the result of the turmoil is lower prices. That hurts sellers, (I will get into that in a minute). But really benefits buyers. Buying right is the key to any good investment, therefore, we really can't beat the housing market in its current state. Low prices, low interest rates, sellers willing to negotiate, it truly is the right time to buy. Many buyers have figured that out as evidenced by the numbers. http://t.co/Z7JOx4lB Check out Michigan, Arizona and Nevada. Looks to me that many buyers have sought out the hardest hit areas and are regenerating those markets.

 

As for the sellers, it looks bad for a while. I wouldn't sell if I didn't have to. Not the time to "test" the market. But, if you do have to sell and you are upside down, there are options. Look into a short sale with your bank. Look into a number of government programs designed to help you in your current situation. Look for a professional to answer your questions. We are here to help you through this tough time.



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