While it is human nature to yearn to be "number one," this is not where you want your hometown to land on Case-Schiller's national foreclosure list. Throughout most of 2007, this dreaded top ranking was the Denver area's dubious distinction. No longer. Despite a recent article in USA Today, highlighting the rampant number of foreclosures in Denver's Green Valley Ranch neighborhood, Denver's foreclosure rate has plummeted to number 20 in the country. The result of mass predatory lending, Green Valley Ranch's dire foreclosure situation is highly isolated. Generally speaking, there is not a "mass exodus" of any sort occurring in the Denver metro area.

What is the current condition of the Denver real estate market? Homebuilder activity has come to a crawl this year, as new residential building permits have decreased a stunning 58%. With most inventories sold off in 2007, Denver homebuilders are likely awaiting signs of a market rebound to increase their activity. While this may be bad news if you are bent on new construction, the decreased competition is good news for Denver sellers.

What does all of this mean for the Denver homebuyer? It's simple - this could be the best time in a decade to buy a home. On average, Denver homes are sitting on the market for 114 days, before finally selling for 96-97% of their adjusted list price. In addition, we have been able to negotiate excellent deals for our clients, including down payment and closing cost assistance.

How much longer will this Denver buyer's market last? Historically, a tighter housing market is followed by property appreciation. So, for future homebuyers sitting on the sideline, just waiting for the market to bottom out, I will leave you with this thought - once the press begins to report signs of a market recovery, it often is too late to jump in.

With 300 days of sunshine per year blended with beautiful panoramic views of the Rocky Mountains, it is hard to imagine a more desirable city for relocation than Denver, Colorado.

Denver offers a top-notch quality life that is unmatched among other cities. For the sports enthusiast, the fabulous Colorado Rockies (spring season is here!), the Denver Nuggets, the Colorado Avalanche and the perennial favorite, the renowned Denver Broncos, offer year-round excitement.

After the completion of Denver's massive T-Rex project and new light rail system, endless recreational, shopping, cultural and world-class dining opportunities are easily accessible throughout the Denver metro area.

The Denver real estate market is prime for a rebound with its large inventory of homes, falling interest rates and low unemployment rate of 4.5%, which is well below the national average. Denver's economy, supported by a diverse base of industries including aerospace, technology, and energy, etc., continues to fare well in the wake of a struggling national economy.

Come to Denver, fall in love and let us help you find your dream home.

Happy New Year! If buying a home is on your resolution list, you may be wondering how to optimally time the ever-changing Denver real estate market. Since the state of the market is based on historical factors, many buyers will not realize that the market has turned around for the better until after the fact. After the press reports the good news, it's often too late to take advantage of a prime buyer's market. Whoops!

In the Denver real estate market, the desirable properties are still selling quickly - some after being on the market for only a few days. In contrast, the listings that are overpriced or not in mint condition may hang around for six months or longer. Approximately 30% of the homes on the market fall into the overpriced or less than desirable condition categories. How does a Denver buyer make sense of all of this? Study the market.

Happy shopping and please let TeamCox Realtors know if we can assist you in any way with your Denver home search.

If you are someone who loves a good bargain, head for Denver, Colorado. With decreasing interest rates, a plentiful inventory of homes and more than reasonable prices, this is absolutely the time to be a homebuyer in the Denver metro area.

During the National Association of Realtors' annual meeting in Las Vegas this week, NAR Chief Economist Lawrence Yun singled out the Denver housing market as being undervalued. This conclusion was based on several factors including Denver's affordable housing, low interest rates, a robust economy and a low unemployment rate of 3.9% that is well below the national average of 4.7%. The Denver real estate market has all of the ingredients to not only turn around in 2008 but to possibly even boom.

There is a real estate axiom that claims, "real estate is local." Nothing could ring truer as the national real estate market has declined at an annual rate of 3.2%. In contrast, Denver has seen three straight months of real estate appreciation. While this percentage may be minimal, it is the second highest appreciation out of the 20 metropolitan statistical areas. The good news is that once the market bottoms out, there is nowhere to go but up.

It is likely that Denver's spring housing market will display supply-side economics where prices not only stabilize but possibly continue to increase. Some of the indicators of this scenario include a low unemployment rate, strong job growth, increasing incomes, reasonably priced housing, declining foreclosure rates, reduced housing inventory and low builder inventories. All of this coupled with stable and possibly declining interest rates could make this a great time to enter or move up in the Denver housing market.

According to a recent article in the Denver Post, the Office of Federal Housing Enterprise Oversight reported that the price of Colorado homes appreciated only 3.3% from the first quarter of 2006 through the first quarter of 2007. In contrast, the national real estate market saw an average appreciation of 4.6% during the same time period. While Coloradoans enjoyed an average statewide 3.3% increase, which was brought on by a real estate boom in the mountain towns and Grand Junction, the Denver metro area experienced a 4.2% price decline in 2006.

There is a bright side to all of this. Colorado's robust economy has spawned a healthy employment market with high-paying jobs, which will eventually aid the real estate market's recovery. In addition, since Colorado never saw the huge gains that were common in other parts of the country in recent years, the market is more stable. The good news is that experts predict up to a 10% home price appreciation in the coming years. If you are planning a Denver relocation or simply have been fence sitting, there may not be a better time than the present to buy that new home.

Denver continues to be a buyer's market but for how much longer? Home sales are definitely on the up tick with home sales increasing nearly 3% April 2007 over March. The Denver median price range is $248,000 with the average sales price coming in at $322,510. The average sales price for a single family home increased 6.75% April 2007 over March which substantiates my previous postings reporting an active Denver spring buying market. The condominium sector is expected to remain the weakest segment of the residential real estate market attributed to saturation and over building. The days on the market for single family homes in Denver have also decreased from 117 to 106. Interest rates have continued to soften and it is my belief they will probably hover around the 6.0% mark. It is also my belief that they will likely stay in this range due to an ample supply of money as we feel the result of strengthening of lending restrictions.

If you are a prospective buyer in the Denver real estate market, the news is still very good for you. The news for sellers has not been great for a rather protracted period but there may finally be some light at the end of the tunnel. According to a recent article in The Denver Post, the Office of Federal Housing Enterprise Oversight reported that the price of Colorado homes appreciated only 3.3% from the first quarter of 2006 through the first quarter of 2007. In contrast, the national real estate market saw an average appreciation of 4.6% during the same time period.

While Coloradoans enjoyed an average statewide price increase, the Genesis Group reported that the entire Denver metro area saw a 4.2% price decline in 2006. That is even better news for metro Denver home buyers. The real estate boom in the mountain towns and in Grand Junction offset the Denver real estate market's decline.

There is a bright side to all of this. Colorado's robust economy has spawned a healthy employment market with high-paying jobs. This will eventually aid the real estate market's recovery. In addition, Colorado never saw the huge gains that were common in other parts of the country in recent years so the market is more stable. Because of all of this, many experts predict up to a 10% home price appreciation in the coming years. If you are currently fence-sitting or just planning to move to Denver in the next few months, there may simply not be a better time to buy a home or move up to a new one.

We are in the midst of a strong spring selling season. On the economic front, United Launch Alliance (ULA) is adding an influx of high salaried employees from southern California, which is creating a positive economic impact that is finally beginning to eat away at the existing inventory. There is also strong hiring in the medical and management sectors.

The Denver area unemployment rate is now well under the 4% benchmark, which creates some tightness in the labor market. This coupled with the fact that compensation has increased 21.8% over the past five years and 7.4% in 2006 is making Denver a prime relocation destination. We are anticipating this level of activity to continue throughout the spring and summer months, which will further tighten the inventory and shorten the average number of days on the market. This will almost certainly lead to higher appreciation rates than Denver homeowners have seen in years.

I am not speaking solely of the 2007market which is definitely here. I am also speaking of the spring 2006spring home selling market. The spring market of 2006 simply neve arrived. It never showed up for the entire of 2006. When the calendar turned to 2007, it appears that both markets have joined forces.

We are now dealing with a certain amount of pent up buying. Negative news about Colorado leading the nation in foreclosures along with a glut of homes on the market that were priced too high and not in good condition, stifled buyer's emotions. Those unrealistic sellers seemed to have withdrawn or become serious and put their homes in show-home condition. The result, homes are really moving.

Buyers are back in the market place. I anticipate the first evidence of this will be a decline in days on the market, then we will notice a sales price much closer in alignment with the sales price-provided the home has been or now is correctly priced. Let's add to this mix a report that new home starts in Denver are down 14%. This will further drain supply in what I am seeing as a much stronger demand.

With rates low, inventory still good and prices that have not yet started up, there simply could not be a better time to buy in Denver.