Sep 13

Colorado home market ranked No. 5

Colorado boasts the nation’s fifth best housing market, according to a report released today.

The report by 24/7 Wall Street said home prices in Colorado have risen by 7.3 percent in 12-month period ending in July, with a median home price of $240,00.

“The Colorado housing market was not badly damaged when the housing bubble broke,” according to the analysis, which ranked Arizona as No. 1, with a 16.6 percent year-over-year increase in home prices.

The online service, which provides analysis and commentary on a variety of domestic and international equities and asset classes, including real estate, based the ranking of the top 10 housing markets on a number of sources. They included:

  • The Corelogic Home Price Index.
  • Foreclosure data from RealtyTrac.
  • Fiserv, an information management company that provides data for the Case-S&P/Case-Shiller home price index.
  • Trulia, the online real estate search site.
  • Unemployment data from the Bureau of Labor Statistics.   Read More:

Permanent link to this article: http://blackhorsecolorado.com/colorado-home-market-ranked-no-5/

Sep 01

HomeGain: Home sellers more successful with real estate agent

Posted by kpanchuk on 8/20/12 at 10:29am

Getting Your Home Sold

Some homeowners may have a strong preference for selling their own properties, but a new poll by HomeGain suggests having a real estate agents improves a person’s odds of offloading their home.

HomeGain is an online marketing solutions provider for real estate agents. The firm recently conducted a survey of 400 homeowners, asking them whether they attempted to sell their homes on their own or through an agent.

About 66% of homeowners who utilized the services of a Realtor, for example, managed to sell their home — while only 30% of those who attempted to sell their own properties were successful.

22% of those who attempted to list properties on their own eventually enlisted the help of a real estate agents. Of those homeowners, 55% were eventually able to sell.

The survey period ran from July 31 through Aug. 10.

kpanchuk@housingwire.com

Permanent link to this article: http://blackhorsecolorado.com/homegain-home-sellers-more-successful-with-real-estate-agent/

Aug 31

Denver housing market second fastest selling in the nation

New advice from the trenches on buying a home: Look early. Think fast. Hone your quick-draw skills with the checkbook.

Metro Denver’s real estate market, not long ago a buyer’s domain, suddenly has shifted to a seller’s paradise, at least in some neighborhoods and price ranges.

Realtors’ offices are rife with fresh anecdotes of sellers happily cherry-picking from multiple offers — some of them above the asking price.

How fast is the market moving? A new report shows that Denver is No. 2 in the nation for the shortest length of time that a home is listed before being sold — 33 days — far below the national Read more:

By Steve Raabe of the Denver Post

 

Permanent link to this article: http://blackhorsecolorado.com/denver-housing-market-second-fastest-selling-in-the-nation/

Apr 01

Twelve Reliable Real Estate Tips for 2012

Written by Steve McLinden/Published January 12, 2012/Bankrate.com

Home Sales SignTo buy or sell in 2012, what with Armageddon coming and all? Absent any ancient Mayan wisdom on real estate strategies, let’s just hope the real cataclysmic event in the real estate market already has passed, even if the rubble from the bubble remains.

A stubborn overstock of households with loans higher than their value will continue to restrain prices and create some major obstacles for sellers in 2012, a year that’s shaping up to be another homebuyer’s market. In fact, recent studies indicate that more than 20% of all residential properties with a mortgage are still underwater, hinting that many foreclosures and workouts are still to come.

However, even the most conservative forecasts call for growth in home sales in 2012, with some select pockets around the country already busting out where there are competitive offers on new listings. More than one-third of home resales were made to first-time buyers in 2011 — another good sign.

Read more: http://www.foxbusiness.com/personal-finance/2012/01/11/twelve-reliable-real-estate-tips-for-2012/#ixzz1qoTaHsQQ

Permanent link to this article: http://blackhorsecolorado.com/twelve-reliable-real-estate-tips-for-2012/

Mar 07

Case-Shiller report: Home prices ended lower in 2011

Home prices fell sharply at the end of last year and the likelihood of a turnaround this year looks grim.

Prices were down 4% in the fourth quarter from the same period in 2010, according to the Standard & Poor’s Case-Shiller national home price index released Tuesday. Prices are nearly 34% below their peak in 2006′s second quarter, rolling back average home prices to 2002 levels, the index shows. What’s more, home prices fell in December from November in 18 of 20 leading cities, according to another Case-Shiller index.

The market “might be on the verge of recovery” but “might not,” said the index’s co-creator, Yale University economist Robert Shiller, in a conference call Tuesday.Yet there are more reasons for optimism now than there were at this time last year, he said. Read More:

Permanent link to this article: http://blackhorsecolorado.com/case-shiller-report-home-prices-ended-lower-in-2011/

Feb 23

Lenders paying borrowers to do short sales

Lenders are allowing more short sales by financially strapped homeowners and a few people are even getting cash to complete the sale.

Short sales are when lenders allow borrowers to sell homes for less than their unpaid mortgages. They are an alternative to foreclosures.

Short sales have been increasing for months, but the financial incentives — which Realtors say are random and infrequent — are a newer wrinkle. Read More:

Permanent link to this article: http://blackhorsecolorado.com/lenders-paying-borrowers-to-do-short-sales/

Feb 10

Bernanke: Weak housing to hurt consumer spending for years

WASHINGTON – Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending and warns that the trend could continue to weigh on the economy for years.

On Friday, during a speech to the National Association of Home Builders in Orlando, the Federal Reserve chairman drew the connection between home values and consumer spending, which fuels 70% of economic activity. Bernanke says the broader economy won’t fully recover until the depressed housing market turns around. People are spending less because they are stuck in “underwater” homes, which are worth less than what is owed on the mortgage. And home values are falling because of foreclosures and tight credit — even in areas with lower unemployment. Read More:

Permanent link to this article: http://blackhorsecolorado.com/bernanke-weak-housing-to-hurt-consumer-spending-for-years/

Jan 27

Dec. sales contracts for homes dip from 19-month high

WASHINGTON (AP) – The number of Americans who signed contracts to buy homes fell in December after hitting the highest level in a year and a half the previous month.

The national Association Of Realtors says its index of sales agreements fell 3.5% last month to a reading of 96.6. That’s down from November’s reading of 100.1.

But the reading is still the second highest since April 2010, the last month that buyers could qualify for a federal home-buying tax credit. After big gains in October and November, a modest correction “was always in the cards for December,” said Ian Shepherdson, chief U.S. economist at  High Frequency Economics.

A reading of 100 is considered healthy. The index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by or Freddie Mac.

The index is 18.8% below its April 2007 peak and roughly at the same level it was in February 2004. Contract signings typically indicate where the housing market is headed. There’s a lag of one to two months between a signed contract and a completed deal. But in recent months, a growing number of buyers have cancelled contracts at the last minute.

Read More:

Permanent link to this article: http://blackhorsecolorado.com/dec-sales-contracts-for-homes-dip-from-19-month-high/

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