Thursday, February 25, 2010

Short Sales EVERYWHERE in Metro Denver

Right now there are over 500 active short sale listings in Denver alone. There are over 400 in Aurora. And hundreds more all around Metro Denver. Each week in Metro Denver alone there are 600-700 new filings of home-owners who are in default of their mortgage. We've all heard about short sales and know the major reasons for them: bad loans (adjustable rates, refinances, stated-income qualifications, etc.), drop in values, and financial hardships of the sellers.
(To understand what a short sale is, click here)

But many people don't know that short sales can be a major win-win situation for them - either as sellers of their own home, or as buyers. If you own a house that you can no longer afford because of financial hardships, you should NOT be scared or ashamed to look into the possibility of selling it as a short sale. If you have a legitimate hardship, you can sell your home as a short sale, AND possibly get the entire deficiency amount forgiven by the bank. It is a much better option than foreclosing.

On the buyer's side, IF you have the time and patience of a 3-7 month bank-approval process, you will enjoy a home with lots of equity at an under market-value price.

Call me if you are considering a short sale. We have an entire team that will help you through every step of the process.

Is a Short Sale Right for You?

Friday, February 12, 2010

January 2010 Denver Market Statistics

Prices in January of 2010 vs. 2009 continue to show the trend upwards, as they did in December. Average sold price out of the 1,841 single-family home closings in January 2010 was $260,530, $30,000 higher than the average sold price in January of '09, which was $230,878. This is a great trend for Denver and continues to show that prices are giong up all over the board (exceptions are Broomfield, Douglas, Lafayette, and snippets of Jefferson County North Central).

Total MLS Stats
All MLS Stats

Wednesday, February 10, 2010

North Aurora - Competition and Appreciation

North Aurora has experienced appreciation over the last year. As youll see, many neighborhoods are green (appreciation), and months of inventory are very low. Many investors tell me how difficult it is to get a property even under $100K in North Aurora, especially because it's still a highly sought after area for cash-flow and a solid rental.
What was selling easily for $65,000 in 2007 now you couldnt get for $100,000 (and in 2003-05 was $150,000). But Aurora is still a safe and cheaper place to invest in Denver. It has Fitzsimmons to the East, Lowry to the West, Stapleton to the North, and South Aurora just south. Investors continue to try to get a hold of properties here.