MLS Statistics September 2009

 

		% Change vs
	Sept 09	Prior Month	Year Ago
Single Family (Res + Cond)
Active	19,834	-   1.93	-  17.09
Under Contract	5,228	-   0.38	-   0.78
Sold	3,846	-    1.51	-   9.82
Avg DOM	96	2.36	-   0.27
Avg Sold Price	$251 ,112	0.04	4.88
Residential
Active	15,046	-   1.67	- 18.65
Under Contract	4,029	-   1.88	-    5.04
Sold	3 ,001	-   2.12	– 10.84
Avg DOM	96	2.13	1.05
Avg Sold Price	$274 ,433	0.17	5.50
Condominium
Active	4,788	-  2.74	– 11.77
Under Contract	1,199	4.99	16.86
Sold	845	0.72	-   6.01
Avg DOM	97	-  1.02	-   4.90
Avg Sold Price	$168,288	0.72	3.91

© 1998-2009 Metrolist, Inc. All rights reserved

MLS Statistics July 2009

		% Change vs
	JUL 09	Prior Month	Year Ago
Single Family (Res + Cond)
Active	20,890	0.18	-18.63
Under Contract	5,286	-6.67	-10.07
Sold	4,440	6.07	-13.33
Avg DOM	100	0.37	2.87
Avg Sold Price	$252,727	-2.21	-3.62
Residential
Active	15,830	0.25	-20.00
Under Contract	4,198	-6.04	-11.88
Sold	3,484	4.69	-16.13
Avg DOM	98	-2.97	1.03
Avg Sold Price	$276,654	-2.35	-2.54
Condominium
Active	5,060	-0.06	-14.02
Under Contract	1,088	-9.03	-2.33
Sold	956	11.42	-1.34
Avg DOM	109	12.37	9.00
Avg Sold Price	$165,530	2.22	-2.33

© 1998-2009 Metrolist, Inc. All rights reserved

to sell or buy, call…

DEBBIE PALLAI

debpallai@comcast.net

www.debpallai.com

MLS Statistics June 2009

		% Change vs
	JUN 09	Prior Month	Year Ago
Single Family (Res + Cond)
Active	20,853	0.57	-20.12
Under Contract	5,664	6.01	-10.21
Sold	4,186	15.38	-13.60
Avg DOM	100	-4.59	3.40
Avg Sold Price	$258,434	6.34	-3.21
Residential
Active	15,790	0.77	-21.46
Under Contract	4,468	3.88	-12.24
Sold	3,328	16.49	-13.49
Avg DOM	101	-2.88	7.45
Avg Sold Price	$283,312	8.11	-1.25
Condominium
Active	5,063	-0.04	-15.60
Under Contract	1,196	14.78	-1.73
Sold	858	11.28	-14.03
Avg DOM	97	-11.82	-10.19
Avg Sold Price	$161,939	-6.10	-14.93

© 1998-2009 Metrolist, Inc. All rights reserved.

 

3 Lenders Suspended by FHA

FHA cracking down on violators

Three lenders, Golden First Mortgage Cop., Beneficial Mortgage Corp., and Great County Mortgage Bankers are being investigated for allegedly violating FHA regulations.  They are prohibited from originating FHA loans until the investigation is complete.

The suspension is likely to have a serious impact on the volume of loans these companies originate, as FHA loans are currently very popular. 

FHA has increased its vigilance against unscrupulous lenders.

For more details, and further links, click here.

debpallai@comcast.net

www.debpallai.com

Mixed Denver Real Estate Indicators

McStain Enterprises Fails

Showings up

Foreclosures and late payments up

Denver in better shape than most other cities

McStain Enterprises has filed for bankruptcy.  The Louisville, Colorado company, known for its sustainable building practices and quality construction, could not survive the housing downturn.  They report having had no sales from July through December of 2008.

On a more positive note, the Real Estate Resource Center, a local showing service, reports setting more showings on May 29th of this year than on any other day this year.  This could be a seasonal adjustment and/or an indication that more buyers are entering the market.

Some adjustable rate mortgages, which historically adjust upward, will be adjusting downward.  This will lower the monthly payments on those mortgages, and may allow some homeowners to stay in their homes.

Nationally, approximately 12% of homeowners are currently behind in their mortgage payments or in foreclosure.  This is a record high since 1972, when statistics were first kept.

On May 26, 2009, The Denver Business Journal reported that Denver is one of 2 cities out of 20 that saw a small uptick in home prices (.10%) in March 2009 over February 2009.  Denver prices declined in March 2009 over March 2008 by 5.5%, the smallest priced decline in the 20 cities surbeyed.  The average price reduction in the 20 cities from March 2008 to March 2009 was 19.1%.

Some are predicting that Denver will recover from the real estate crisis before other cities.  Indicators are mixed.  We’ll see.

www.debpallai.com

debpallai@comcast.net

Real Estate Tax Assessments in Mail

Your real estate tax assessment is in the mail.

Brace yourself.  Your assessment is likely to be higher than the current market value of your property.

Assessments are based on real estate sales from January 1, 2007 through June 30, 2008.

Counties are expecting more appeals this year than in the past.  To appeal, you must present hard data of home sales during the subject period.  You have until June 1, 2009 to appeal.

If you live in the Denver metro area, and are having trouble find the appropriate sales data, please call or email, and I’ll try to help:

debpallai@comcast.net

303-883-8837.

MLS Statistics March 2009

		% Change vs
	Mar 09	Prior Month	Year Ago
Single Family (Res + Cond)
Active	20,628	2.84	-19.16
Under Contract	4,826	15.37	-17.84
Sold	3,206	29.07	-13.56
Avg DOM	106	-0.93	-4.37
Avg Sold Price	$232,395	6.60	-8.51
Residential
Active	15,584	2.34	-20.12
Under Contract	3,907	16.56	-17.75
Sold	2,590	28.98	-12.23
Avg DOM	106	-0.93	-2.75
Avg Sold Price	$251,583	6.19	-8.41
Condominium
Active	5,044	4.41	-16.03
Under Contract	919	10.59	-18.24
Sold	616	29.41	-18.73
Avg DOM	106	-2.75	-10.17
Avg Sold Price	$151,716	9.75	-12.55

© 1998-2009 Metrolist, Inc. All rights reserved.

MLS Statistics February 2009

 

		% Change vs
	Feb 09	Prior Month	Year Ago
Single Family (Res + Cond)
Active	20,059	1.57	-19.88
Under Contract	4,183	9.19	-18.40%
Sold	2,484	0.61	-17.23
Avg DOM	107	7.38	-5.50
Avg Sold Price	$218,010	2.19	-14.63
Residential
Active	15,228	1.20	-20.13
Under Contract	3,352	6.96	-19.11
Sold	2,008	3.35	-14.26
Avg DOM	107	8.08	-3.60
Avg Sold Price	$236,920	2.62	-15.04
Condominium
Active	4,831	2.77	-19.08
Under Contract	831	19.23	-15.38
Sold	476	-9.51	-27.77%
Avg DOM	109	1.87	-11.38
Avg Sold Price	$138,239	-6.92	-19.54

 

Opportunity Knocks – First Time Buyer Tax Credit

Tax Credit for First Time Buyers

First time home buyers will receive an $8000 tax credit or a tax credit for 10% of the purchase price of their home–whichever is lower–when they buy a home in  2009.  Transactions must be completed by November 30, 2009.

This program, combined with low interest rates and home prices should encourage first-timers to buy now! 

Click here for detailed information.

Or email me for more information:

debpallai@comcast.net

MLS Statistics January 2009

Residential and Condominium

All Areas

		Change vs
	Jan 09	Prior Month %	Year Ago %
Single Family (Res + Cond)
Active	19,748	0.76	-19.36
Under Contract	3,831	16.59	-15.80
Sold	2,469	-23.65	-17.34
Avg DOM	101	1.72	-11.38
Avg Sold Price	$213,330	-5.29	-16.85
Residential
Active	15,047	0.35	-19.60
Under Contract	3,134	17.47	-14.32
Sold	1,943	-24.84	-17.35
Avg DOM	99	1.02	-12.39
Avg Sold Price	$230,878	-4.18	-17.90
Condominium
Active	4,701	2.08	-18.57
Under Contract	697	12.78	-21.86
Sold	526	-18.95	-17.30
Avg DOM	107	2.88	-7.76
Avg Sold Price	$148,509	-8.76	-10.27

© 1998-2009 Metrolist, Inc. All rights reserved.
Metrolist® and PrimeAccess® are registered trademarks of Metrolist, Inc.

 debpallai@comcast.net