Moving to Denver? Here is some good news.

Denver is 'most improved' U.S. housing market, Businessweek says - "In Denver, the economy and employment slowed just as other areas did during the recession, but things appear to be moving in the right direction this year," the report says. Metro-area home prices increased 5.8% in the first quarter from the same period of 2009 as sales grew and distressed sales fell. The report cites research by Development Research Partners of Littleton forecasting a 5% boost in both home sales and prices in the Denver-area this year. "An influx of renewable energy companies and the relocation of kidney care giant DaVita's headquarters to Denver from California in 2009 are expected to create jobs," Businessweek's Venessa Wong wrote. Read full article:
http://www.bizjournals.com/denver/stories/2010/06/07/daily75.html?s=industry&i=resi_real_estate

Case-Shiller: Denver home prices up 4.1%

March marked the 5th consecutive month of year-over-year rising home prices in the Denver area, according to the S&P/Case-Shiller home price index released yesterday. Local home prices rose an average of 4.1%. In November, the 12-month change was 0.5%; 1.2% in December; 2.6% in January; and 3.6% in March. Economist Patty Silverstein said that the Case-Shiller report shows that “here in Denver, the housing recovery is well under way. There is something to be said about our stability, compared with the ups and downs of other cities over the last several years.” Read full article:
http://insiderealestatenews.com/2010/05/case-shiller-denver-home-prices-up-4-1/

Post-Tax Credit Buyers May Save Money

Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do.

Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May.

At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82.

The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May and paid $1,439.59 per month.

That’s a $1,467 annual savings. Over 30 years, it’s a $44,003 savings, dwarfing the tax credit.

Source: Informa Research Services (05/26/2010)

First-Time Buyers March Surge

First-time buyers drive March surge in Denver-area home sales - With the deadline looming to take advantage of an $8,000 federal tax credit, first-time buyers helped boost Denver-area home sales in March by nearly 50% over the previous month. There were 3,602 homes sold last month - up 47.9% from February and a 12% increase from March of last year. Approximately 70% of the single-family homes sold last month were priced below $300,000, and below $200,000 for condos. Median prices for single-family homes were $229,000, up 12.3% from a year ago.
http://www.denverpost.com/business/ci_14849071

Discounted Luxury Homes in New Kind of Real Estate Austin

A new real estate auction is hitting Denver this weekend which features luxury single and multi-family homes that are not in foreclosure, distressed or at short sale. The large one-day real estate auction is being held by Pinnacle Home Auctions. Alan Smith of RE/MAX Professionals says this is the first time an auction like this has been held in Colorado although other states are already using this kind of selling technique.
http://www.9news.com/news/article.aspx?storyid=136052&catid=339

Denver Home Prices - No. 6 on the list!

Case-Shiller: Denver No. 6 - Denver-area home prices rose by an average of 2.6% in the 12-month period ending in January, according to the most recent S&P/Case-Shiller Home Prices Indices. The increase, the largest since the worst housing market since the Great Depression began, provides strong evidence that the Denver-area housing market is past its bottom and is recovering. That ranked Denver No. 6 for year-over-year appreciation, according to the index of 20 major metropolitan statistical area.
http://insiderealestatenews.com/2010/03/case-shiller-denver-home-prices-rise/

Denver's Parade of Homes

Parade of Homes to return in August with multi-site format - Denver’s “Parade of Homes” will return Aug. 14 to Sept. 6, featuring a multiple-site format for a second year and a wider-than-usual range of home values, the Home Builders Association of Metro Denver said yesterday. “We’re bringing back the favorite elements of the Parade, but we’re adding more homes for visitors to see throughout the metro area and admission to the Parade will be free,” Clarence Hughes, chairman of the Parade of Homes and a Home Builders Association (HBA) board member, said in a statement.
http://www.bizjournals.com/denver/stories/2010/03/22/daily21.html?s=industry&i=resi_real_estate