A Big Reason to be Thankful

Time for some good news in the world of Colorado Real Estate! According to a report released last week by the Colorado Division of Housing, new foreclosure filings in the state of Colorado were down 46.1% the first 9 months of 2013 compared to the same period in 2012.

This puts new foreclosure filings at levels last seen in 2004, and this is a good sign!

Even if you’ve never been in the precarious position of facing home foreclosure yourself, the deluge of foreclosures over the past several years as our nation faced the Great Recession have affected everyone. No matter the state of your own mortgage, if a neighbor next door or down the street experienced home foreclosure or a short sale, the value of your home was likely affected. The tides have truly turned. While foreclosure will still be part of the larger picture of Real Estate, it is no longer the driving force of the market.

So what to do? Count your blessings, and consider your next move. If you’ve been holding on to a property – whether your home or an investment property – waiting for the market to come back around – it’s your time to shine!

So let’s talk turkey. You might be ready to make a move in the next six weeks, or you might be thinking about your options six months down the road. Either way, advice from an experienced professional will give you the edge in the Real Estate market.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate

Advertisements

October – More Treats than Tricks in Denver Real Estate

According to a November 5th Metrolist Inc report, housing prices in the Denver area increased by 9.12% year over year in October.

While prices remained steady from October with a slight decrease in the overall number of closed sales (4628 in October vs 4730 in September), statistics continue to show that the housing market in Denver is on the way up.

Another thumbs up from the market? Average days on the market in October was 44, down significantly from 66 average days on the market the same time last year.

What does this mean for you, Average Joe {or Jane} considering selling your home? This information means that selling your home is an even more viable proposition than it was a year ago. Homes are not languishing on the market – even in October, which historically is not the strongest month of the year by any means. Home prices are impressively better than they were one year ago. I’m thrilled that the average sales price is above the 300k mark. This is good news for my industry, and great news for regular folks looking to make a move.

Need more information? Call me to talk turkey! {I love a Thanksgiving pun as much as the next guy.} I’m happy to give you the inside track on your community and let you know what is happening with homes in your neighborhood or price point.

Jack Meyers
jackestate@aol.com
303.263.3050
Twitter: @jackestate