Real Estate Information Archive

As the year comes to a close, it's a perfect time to provide an update on Columbine West Home Sales in 2010.

This past year was actually a good year for Sellers & Buyers in Columbine West, an active community in Littleton, CO.  Since 2007, there have been an average of 4 homes sold each month in Columbine West.  There were 10% More Columbine West Home Sales in 2010 than in an average year.

I wish that I could confirm that prices improved, but there are a number of factors that play into pricing.   On one hand, the average Net Sold price dropped a little in 2010 from last year.  However, compared to 2008 when we had the most Foreclosures in the neighborhood, the Average Sales Price performed as expected.

The good news for Columbine West Home Sales in 2010 is in looking at an apples to apples comparison over the past few years.  The average Cost Per Square Foot has remained fairly stable, and the Cost Per Square Foot (Finished) has improved.

This means that, even with the impact of Foreclosures and Short Sales on the neighborhood, prices have leveled off.  This is good news for Sellers and for those that have recently purchased a home in Columbine West. 

If you're interested in Selling or Buying a Columbine West home, visit columbinewesthomes.com for updates on local properties, as well as photos and videos of the neighborhood.

As your Littleton Realtor and neighbor, I look forward to helping you Buy or Sell your next home.  My Sellers "Net" 99.5% of their asking price - which is way above the 97% average in Columbine West.  My Buyers enjoy my high-quality service no matter how expensive/inexpensive their price range is.  And, all of my clients benefit from my strong negotiation skills!

Although I specialize in Littleton Real Estate and Denver Luxury Homes, it is my pleasure to sell homes throughout the Denver Metro.  Call today for your free consultation:  (303)589-9034

If you're looking for something different to do in Denver, tonight's "Charles Dickens Candlelight Christmas Tour" at the Molly Brown House might be just the ticket!  Runs 6p-7p tonight, and also at 5p/6p/7p Saturday.

They'll be reading some excerpts from "A Christmas Carol", teaching about the Brown's happiest Christmas, and serving cookies and cider on Mrs. Brown's Third Floor. 

Costs are $16, $13 for members, seniors and children.  You can make reservations at http://www.mollybrown.org   

It's been an exciting few weeks, and things are looking even brighter.  Motivated Denver Home Buyers Are Here!

This week, believe it or not, the 30-Year Fixed Mortgage Rate jumped above 5%...  This is still a great rate, historically speaking, but it's also a strong indication of things to come.  Many analysts didn't expect to be above 5% until 2011.  Since there's still time to get in on historically low interest rates, a lot of my Buyers that have been on the sidelines are getting motivated.

If you're a Seller, you can likely expect a lot more action in the next month or two as compared to the typical Dec-Jan-Feb activity.  With less competition during this time of year and improving prices, this might be a great time to sell your home and still be able to get a great deal on your next home, while taking advantage of the low interest rates!  Who knows where interest rates will be in April?

Motivated Denver Home Buyers are here to take advantage of the opportunity to get the best value on their next home and lock-in their interest rates at the best level they can.  If you or someone you know have been waiting for the "bottom" of the market, I believe that time has passed.  But you still have time to get into the market well below its former peak.

Are you a Motivated Denver Home Buyer?  Contact Denver/Littleton Realtor John Basila for a complimentary consultation on the best ways to achieve your real estate goals for the coming year.

Whether I'm acting as a Buyer's Agent or a Seller's Agent, I always stress the value of a Home Warranty with my clients.

From a Seller's perspective, there are a number of reasons why it's important to provide a Home Warranty to your Buyers.  Not only will it eliminate the vast majority of home inspection issues, but it will also cover basic systems while your home is on the market.  It's almost like Murphy's Law in the sense that, as soon as the sign goes in the yard, something in the house will need repair.  For roughly $300, Sellers can sleep comfortably at night knowing that they're protected should a major system fail.

Another great feature for the Seller is that the Home Warranty can be paid at Closing.  For Sellers, the value of a Home Warranty is unquestionable.

For Buyers, the value of a Home Warranty is just as important.  The last thing you want to happen after you sink most of your available cash into a home is for a major system like the furnace or hot water heater to fail.

Buyers also have the ability to "upgrade" Home Warranties to cover additional items like air conditioners and refrigerators.

When you're planning to Buy or Sell a home, be sure to include a Home Warranty.  Your peace of mind never came so cheaply!

When I meet with my Sellers to earn their Listings, one of the most important topics we discuss is Pricing Your Home To Sell.

Let's face it - we're not in a booming market...surprise, surprise...  If you purchased your home at fair market value in the past five years with less than 20% down, or if you refinanced and took out some equity (cash), you're probably on the edge of breaking even, or worse, if you must sell your home today.

If you must sell, it can be an akward discussion that we have.  Nobody wants to bring money to the table, but if you want to sell your home and move forward, it's all about Pricing Your Home To Sell.

This week, I received a report, 88 pages long, of properties that have received a Notice of Election and Demand - which is a notice from the County that your Lender has started the Foreclosure process on your property.  That's 614 properties just this week.  These properties will be hitting the market in Spring if the Borrowers' deficiencies aren't satisfied.  If your home is on the market, you'll have some serious competition because they'll be offered at below market value prices.  But, they probably won't be as nice as yours...

It's funny to me, now, that a lot of Real Estate Agents will specifically state in the MLS that the property they're marketing is a "Normal Sale".  A few years ago, who would have thought that would be a selling point!!

If my Sellers are close to the edge, they'll often want to price their home so they won't need to bring money to the table.  If they attempt to do this, I must express two key consequences of this action:

    Buyers who can afford their home will not see it in their searches

    Buyers will compare their home to much better homes

The key to Pricing Your Home To Sell is to list it at a price at which it will sell.  It might cost you a few dollars, but at least it will sell.  If you overprice it, you will get few showings and will likely not receive any offers.  And your home will sit on the market day after day, after day, after day.

If you're on the edge or you know someone who is, have them contact Denver Realtor John Basila.  Pricing Your Home To Sell is one of the most important aspects of selling a home in today's market.

Great news for homeowners and potential Buyers - the Littleton, CO Housing Market Is Stable!

Over the past few years, I've talked with many potential Sellers and Buyers about market trends.  No Seller wants to sell at the bottom of the market, and no Buyer wants to miss out on the best deal possible or have their newly purchased home decrease in value.

There are a number of factors combining together to make this a great time to Buy or Sell a home in Littleton.

With the recent tax extension agreement by Congress, the continued sell-off of Treasuries and the improving economy, Interest Rates are beginning to rise.  In the past month, we've seen a significant increase in mortgage rates.  The sub-4.0% days are gone.  There's still time to lock in these low rates, but analysts expect them to continue to rise up near the 5 percent range by the end of 2011.  Still, these are fairly good rates!

Based upon my analysis of recent MLS information from Metrolist, The Littleton, CO Housing Market Is Stable.  All comparisons are YTD 2009 -vs- YTD 2010. The number of homes sold in Littleton, CO is up about 3 percent this year.  Although the newspaper reported a "sensational" drop in the Denver Metro in November of 25% from 2009, take statistics with a grain of salt.  Looking at Year To Date figures, instead of one month, gives us a much broader understanding of what's really going on. 

The Average Days On Market decreased during this same period, from 89 Days to 86 Days.  This means that the average home in Littleton, CO takes less than 90 Days to sell.

Another  bright light in the recent statistics is that Home Prices in Littleton, CO are improving! There are two numbers to consider with pricing.  One is the MEDIAN, the other is the AVERAGE.    Median means half of the homes sold for more than this price and half of the homes sold for less.

The Median Price for a home that sold in Littleton is up 3% over 2009.

The Average price for a home that sold in Littleton is up 7% YTD over 2009!! Although the news outlets might still be hammering on any bad news they find about the housing market, at least you know that the Littleton, CO Housing Market Is Stable.  Heck, I'll even venture to say that our little neck of the woods is improving!!

If you're a Seller that's waiting for the market to improve, or if you're a Buyer trying to get the best price and lowest interest rates, now is a perfect time to act!  Contact your Littleton Realtor, John Basila, for a complimentary "no obligation" consultation on how this might be a great time for you to Buy or Sell your home in Littleton.

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.