Mid-Century Beauties and Bright Condos [Denver – Fresh Listings]
--- by Sophie Kloor Less than three weeks remain in 2018. It has been a great year at House Einstein - we have been fortunate to help a fun variety of clients accomplish their specific real estate needs. It's a joy to reflect on all of the homes we've been able to help people buy and sell in 2018. As my focus on Denver real estate deepens, I find it key to stay on top of market behavior and current inventory throughout the city. Within the past week, over 120 listings were listed. I sifted through them all, removing refreshed listings, those [...]
Modern Beauties and Charming Homes [Denver – Fresh Listings]
--- by Sophie Kloor A total of 180 listings hit the market all throughout Denver this week. I sorted through and picked my personal favorites based on solid locations, design, finish quality and overall livability. Despite it being December, I was impressed by the variety of options newly available. Below you'll find a refreshing mix of properties from a brand new modern farmhouse to smaller, charming, historic family homes. Are you shopping for real estate? Let's schedule our showings now! If you or someone you know is looking to buy or sell in the Denver or Boulder area, I can help. [...]
Denver Delights! [Fresh Listings, Get ‘Em Hot]
--- by Sophie Kloor I'm pleased to present the first fresh listings, Denver edition. Going forward, keep an eye out for these Denver posts each week! As you know from reading our blog, the holiday season is the quietest time of year in the real estate industry. It's a great time to find a deal amongst dozens of stale listings that have undergone several price reductions and have been on market for months. Today however, I'm focused on a variety of new beauties on market throughout Denver. As of this writing, a total of 185 new listings hit the market [...]
The Best of Denver Real Estate [Eye Candy]
--- by Sophie Kloor I love Boulder: the land of Flatirons, yoga pants, wheatgrass, and puffy coats. However, I have been craving city life and and this past September I purchased a lovely home in City Park West. This move to Denver has created an opportunity for me to further my understanding of the Denver real estate market - and I am increasingly captivated by all that this city offers. I've been discovering different neighborhoods, eateries, coffee shops and, best of all, awesome properties. The Denver market is vast and has options for every type of buyer, at every price point. [...]
The Latest Case-Shiller Data on Denver [Analyze This]
--- by Osman Parvez The latest Case-Shiller HPI update is out this morning. Home prices in Denver inched up to 7.7% year over year in August, compared to the 7.2% for the same period a year earlier. Meanwhile, the 20 city composite increased 5.5%. Anecdotally, we're seeing a surprising number of options for our buyers hit the market and starting to have strategy discussions with sellers who are concerned with missing the peak of the market. Although Denver is still appreciating, the pace of gains is beginning to slow nationally. I expect appreciation rates to flatten in the next 12-24 [...]
American House Prices: Reality Check [Analyze This]
by Osman Parvez ---- Today's interactive Daily Chart from the Economist is excellent. American House Prices: Reality Check. It shows house prices going back to 1980 across five metrics; HPI, Prices in Real Terms, Price to Rent, Price to Income, and Percent Change. You can switch on/off markets and use the sliders to adjust the dates. Here's what Denver (grey) looks like for prices in real terms since 2000 compared to Phoenix (green) and Seattle (red). Think we've got room for the market to keep moving up? I sure do. It seems we're a long way from the peak. [...]
FasTracks Update: New Options, Survey in January
by Osman Parvez ---- Earlier this week, RTD released a bit of FasTracks news, updating the current status of the program. In August, RTD increased the price tag of FasTracks to $7.9 billion from its original, voter-approved, $4.7 billion cost. Throughout October, RTD held meetings in attempt to gauge public opinion on the state of FasTracks. The following five options were discussed, while assuming that the East Corridor, West Corridor, Gold Line, and US 36 BRT (Bus Rapid Transit) Phase 1 would be constructed. OPTION 1 Build what can be afforded by 2017 - This would include the basic assumptions [...]
FasTracks, Worth $7.9 Billion?
by Osman Parvez ---- Over the entire Denver/Boulder metro area, there's been a lot of buzz about a certain public transit project. Last month, the Regional Transportation District of Denver (RTD) completed its annual FasTracks evaluation and announced a new budget of $7.9 billion, a 68% increase from the original budget. The project has received quite a bit of press over the past few weeks. Starting at the FasTracks website, through editorials in the local papers, and speaking with dozens of people to gain their insights, here's my attempt to dissect the situation. First, I believe a brief review is [...]
Why The Downside Is Limited
by Osman Parvez ---- A few comments have suggested that my recent downside estimate for the Boulder market was too shallow. If you're sitting on the sidelines looking for our local (or broader regional) market to collapse like the former bubbles, you'll probably be disappointed. Here's why. Enter the wayback machine and look at my post from two years ago comparing the Denver market with bubble markets. After showing you how these markets compare and overlaying trends, I wrote: Thus, more support for the notion there's no housing bubble in Boulder or Denver. Even so, we will still be impacted [...]
By the Numbers
by Osman Parvez ---- A new report in the Rocky Mountain News shows the economic impact of real estate in Colorado. Key statistics: 65,000 people are directly employed in real estate 252,000 are indirectly employed $16.5Bn in wages and profits earned (slightly more than 11% of total for the state) $9.1Bn came from the Denver area All information is based on 2005 data. ---- Like this analysis? Subscribe to our client research report. Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You [...]
Signs of a Recovery
by Osman Parvez ---- Is a recovery underway in Denver? The numbers are starting to prove it out. From the Rocky Mountain News: ------------ Fresh evidence suggests the Denver-area housing market may be in the early stages of recovery, even as the national housing market faces an even bigger slump. From May to June, Denver homes showed a 1.3 percent appreciation in value, the highest of 20 metropolitan areas surveyed, according to the Standard & Poor's/Case Shiller Home Price Indices. Charlotte, N.C., was No. 2 at 1.2 percent. And while Denver home prices dropped by 0.7 percent in July from [...]
Record Foreclosures in Denver
by Osman Parvez ---- A few weeks ago, I had dinner with a friend who had just bought a foreclosed home. A smart investor (and lending officer), he ran the numbers thoroughly and dived-in at a very attractive price. Foreclosures are truly a cloud with a silver lining. For the previous owners, it was a painful experience but hopefully one they will recover from. For the new buyers, it's a fresh start and if they did their homework, a savvy investment. There are opportunities out there. More on the regional impact of foreclosures. From the Rocky Mountain News: More than [...]
Sunday Reading – 11/26/2006
by Osman Parvez I didn't have time to post last week's Sunday reading. Now there's quite a backlog. Here's three articles to get you started. I'll post more in the next few days. 1. Hybrid Cars. I was driving down Broadway the other day and found myself counting hybrids. From the Holiday Neighborhood to Table Mesa, I must have passed two dozen or more. I'm not kidding. Priuses, Civics, Escapes, Insights, and Accords. One after another, a parade of clean and green machines. You could say that next to Subaru Outbacks, hybrids have become ubiquitous in the People's Republic. If [...]
Denver’s Commercial Recovery
by Osman Parvez The Wall Street Journal is reporting on the health of Denver's commercial market. The article notes that it's driven by job growth and strength in energy, finance, and professional service sectors. Office rents have increased as have prices for apartments downtown. The article also touches upon a how the tide of foreclosures are increasing demand for rental units. Second Quarter 2006 vs 2005, according to the article... Office vacancy has dropped from 19.2% to 17.6% Retail vacancy has dropped from 18.0% to 16.1% Apartment vacancy has dropped from 10.6% to 8.6% Median home prices are up from [...]
Recent Links
by Osman Parvez It's been awhile since I posted links. Here are a few recent real estate and development related stories that are worth checking out (some articles may require registration). Bad luck be damned, 29th Street's Grand Opening is Friday, October 13th. The Wild Oats store won't be ready but 88% of the mall is leased, according to developers. Louisville is moving closer to creating an urban renewal area along CO42, with the planning commission voting 5-1 to move the proposal forward. The future Fasttracks stop located in the same area is helping provide momentum. Noodles and Company have [...]
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