Denver Real Estate Market one of the Best in the Country!

Here is some great news for the Denver area! According to an article in the Rocky Mountain news published on January 27Th. 2009, The Denver housing market has outperformed all but one market in the 12 months ending in November 2008. Also, in November 2008, Denver-area homes lost only 1.1 percent, making it the best-performing city in the S&P/Case-Shiller Home Price Indices. Home prices in the Denver area fell only by 4.3 percent in the 12 months ending in November. This is great news for Denver compared to other 20 metro areas average at 18.2 percent. Only Dallas, with a 3.3 percent decline, fared better than Denver. The decline in Denver is very small compared to areas like Phoenix and Las Vegas. These were the two worst markets through November, losing 32.9 percent and 31.6 percent, respectively, according to Case-Shiller. In some towns in California, homes that sold for $1 million two years ago probably are worth less than $600,000 today according to this article.....

I also agree with most area market forecasters who predict Denver and the whole state of Colorado to continue to outperform the nation. We may even see "minor" increases in home sales activity this year from 2008! One of the reasons for this is our market is not overbuilt. Denver has a very small amount of new homes being built and we are not plagued by a huge inventory of resale homes like so many other metro areas. We also never had the roller-coaster rise and fall of home prices other cities experienced!

What does this mean for you if you are considering buyer or selling a home in the Denver area in 2009? This means you will be faring far better than just about anywhere in the country! The Denver area is going to continue to be a great place to invest in Real Estate. What great encouragement for all of us!

Jon

What should my asking price be?

Here are some home pricing pitfalls...
When it's time to sell your home, it's very easy to be snared in the overpricing trap. After all, you want top price for your home. With this very dffucult market for sellers you need to be very careful not to price your home too high. Given that, it's logical that the asking price you set could be higher than "fair market value." Unfortunately, you probably won't realize it's too high until much later.
Here are just a few of the disappointments you'll be facing with an overpriced house:
Responses to your ads will probably be slow, since the public recognizes overpricing. Remember, people buy by comparison.
Some prospects who are attracted may be the wrong ones. They will be attracted because they're looking for a home priced the same as yours – but with MORE features.
Very few buyers will even make an offer on an overpriced home. The reason? Even if you accept their lower offer, they aren't getting a bargain since the final price is probably no less than "fair market value."
Your home will help buyers make a favorable decision on other homes that are priced fairly. Do you really want to be the example that drives people elsewhere?
If you do find a buyer at your price, their mortgage application could be rejected because of a low appraisal; the house simply doesn't meet the standards that the price indicates. This has become a huge factor in todays market.
This all sounds rather bleak, so what can you do to solve the pricing issue? Work with an experienced professional who knows the market in your neighborhood. Take advantage of the research and advice your real estate agent can offer, and you'll be on your way to setting the right price for your home.

Jon

What is most precious and important in your life?

I have been asking myself this question frequently this past week! A friend and neighbor was just killed tragically in a snowmobile accident. We had a lot in common....he was my age (40) and left behind a wife and 3 young children. He desired to live his life for the Lord and his family was very active in a local church. We had worked together in the Real Estate business.

The news of his death has been very difficult and has caused me to think a lot about how I am living my life everyday. Are my actions each day reflecting what is most precious and important in my life? Am I seeking to know the Lord Jesus with all of my heart each day? Am I willing to love and sacrifice for my family, friends, or someone in need? Will I put my own desires after the needs of others? What will I be remembered for when I pass into eternity?

I am recommitting to live my life today for what is most precious and important! What are you living your life for?

Jon