Aurora, CO Real Estate News

By Lance Petrillo
(Your Castle Real Estate)
A LOT of agents don't advise their clients to get sewer scopes when they purchase a property. This is a major mistake.  A broken sewer can cost between $3,000 - $10,000 dollars to repair and it only costs $99 ($99Rooter - others are more expensive) to have a tech put a camera down the sewer pipe and videotape the sewer all the way to the mainline. This will tell you  and the-buyer what the condition of the sewer is.     So let's see, we pay to have the furnace inspected but a new furnace will only be about $2,000. We pay to have the roof inspected but that's probably a $4,000 job. So why don't we always inspect the sewer?  One reason is because, let's face it,  Realtors want closings. Many figure if they keep their mouth shut and don't go out of their way to recommend a sewer scope that...
Comments 0
By Lance Petrillo
(Your Castle Real Estate)
Have you ever driven through Aurora North looking for a rental property and taken a close look at the roofs?   Here's what you'll see: a bunch of 1950's ranches in varying states of repair or disrepair, lawns that are often grassless, old handcrank windows and roofs in almost perfect condition!  This surprised me at first and perplexed me for a long time.  Why, in a neighborhood devastated by foreclosures with properties with massive deferred maintenance are the roofs in such condition?  Really!  Stand in the middle of a typical street and looking at 10 roofs simultaneously, you'll be amazed. Well, it turns out the answer is pretty simple. There was a huge hailstorm in the mid-90's and most of the roofs were replaced by insurance companies then. The result is that while you certainly ne...
Comments 0
By Lance Petrillo
(Your Castle Real Estate)
A lot of clients ask me how to figure out what market rents are in a neighborhood. This is a critical input into the calculations an investor needs to make in order to determine what their return on investment will be on a rental property. So you don't want to screw this up! Unfortunately, this is one of the many figures new investors get wrong. One place people go to get rents is Rent-o-Meter. Rent-o-Meter is billed as an online resource to get accurate market rents. In my experience it is anything but! However, I have a fairly simple solution. Multiply what you see on Rent-o-Meter by 80% and you'll probably be close. I can't explain why but I find rents on Rent-o-Meter to be about 25% high, so multiplying their rents by 80% will get you close (do the math, it works out). So then, how ...
Comments 0
By Lance Petrillo
(Your Castle Real Estate)
The talk around the water cooler these days is all about LOANS. Who can get them? At what price? What if I already have a few loans, do I still qualify?  A year or two ago the question was at what price do I get a loan (those were the days!).  Today it is "am I still in the game?"        Here's the deal:  if you have an owner occupied loan and 3 investor loans you cannot buy any more properties and get Fannie Mae / Freddie Mac financing, meaning you can't get a conventional 30-year fixed loan. Now, my hope is that someone reads this and tells me I'm wrong. That would be great!  But as far as I know that is the case.       Where does this leave you?  You can pursue loans that are warehoused by lenders, meaning they are not sold on the backend to Fannie or Freddie. You are probably lookin...
Comments 0
By Tatyana Sturm, Denver Realtor, GRI, Denver/ Aurora CO Relocation
(Exit Realty DTC)
Storyteller Ercia, Sodos, dressed up as Cerridwen, tells stories of Halloween Fun and fantasy at DeLaney Farms at at First Avenue and Chambers Road in Aurora (map), Colorado from 3-4:30.  See some magic, get a Halloween treat bag and discover the only round barn in Colorado. Admission is $7 and $5 for Aurora residents. For more information, call 303-739-6666 DeLaney Farmer's Market Skip the grocery store and shop from among the array of local produce grown by Denver Urban Gardens.   Colorado Home Sellers, to receive your free Colorado home marketing CD email me at: tatyana@exitrealtydtc.com or call 720-350-5909 Colorado Home Buyers, to receive your free Colorado home buying CD email me at:tatyana@exitrealtydtc.com or call 720-350-5909 For the most comprehensive Colorado Real Estate map ...
Comments 1
By Dano Keys
(Your Castle Real Estate)
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The average price in the first three quarters of 2008 was $272,000 vs. similar period of 2007 was $308,000: an 11% decrease. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Colorado Springs or Boulder.Much of the decline is a mix issue. For example, sales volume of homes over 4,000 square feet has plummeted in the last twelve months. Middle-market homes have generally been steady in their sales volume. Very inexpensive homes under 1,000 square feet have greatly increased their sales volume. You can explain it to your clients li...
Comments 14
The big message has not changed since last quarter - it's still a great time to be a buyer in the condo market. Prices are at a three year low in many areas, and interest rates on mortgages are still historically low.The average condo price in Metro Denver declined 4% between 2006 and 2007: from $187K to $180K. Homes dropped 3% in that time period. Looking just at the first nine months of 2008 vs. the same time period in 2007, the price dropped 6%: from $181K to $172K. Homes dropped 11% in that time period. From their peak prices in 2006, condos have dropped around 9.5% while homes have dropped 12%. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Fort Collins, Colorado Springs, or Boulder.Some areas did better ...
Comments 11
By Dano Keys
(Your Castle Real Estate)
If you have not heard already, the inventory of home on the market in Denver has been declining. This is not true in many regions of the county. Your clients, who often only see national headlines, might not be aware of this favorable news. Our market has some unusual factors at work. Let's explore them, so you can better help your clients.If you look at the first chart (MOI 1), you'll see the MOI (months of inventory) for Denver's suburbs on the bottom axis and the average sales price in that suburb on the axis on the left side. Denver metro currently has about six months of inventory (a balanced market, on average), but you can see there is a lot of variety from one city to the next. Lower cost areas, such as Thornton, are seeing inventory move fast. Sellers (mainly banks) don't have...
Comments 7
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
Comments 5
By Dano Keys
(Your Castle Real Estate)
Please take a moment to comment after you enjoy the material!       Recap of First Half 2008 Home Price Performance The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The half of 2008 was $275,000 vs. the first half of 2007 was $306,000: a 10% decrease. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Fort Collins, Colorado Springs, or Boulder. The average price of a foreclosure dropped -6% to $168,000 in the first half of 2008. The average short sale was steady at $212,000. The average price of a non-distress sale decreased 5% to $352,000. Sales volume was down for single famil...
Comments 6
By Dano Keys
(Your Castle Real Estate)
Recap of First Quarter 2008 Home Price Performance The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000.  Comparing 2006 to 2007, the average home price across the metro dropped 2%, to $311,000.  The first quarter of 2008 was $278,000 vs. the first quarter of 2007 was $296,000: a 6% decrease.  Note that prices in the first quarter are usually a bit less than the rest of the year.  This is because families that tend to purchase larger, more expensive homes tend to move in the summer months when their kids are out of school.     The average price of a foreclosure or short sale dropped -3% to $188,000 from 2006 to 2007.  The average price of a non-distress sale increased 5% to $370,000.  Sales volume over the last twelv...
Comments 4
By Dano Keys
(Your Castle Real Estate)
   Recap of Fourth Quarter 2007 Home Price PerformanceThe average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000. Comparing 2006 to 2007, the average home price across the metro dropped 2%, from $311,000. The average price of a foreclosure or short sale dropped in that time period -3% to $188,000. The average price of a non-distress sale increased 5% to $370,000. Sales volume over the last twelve months is off -4% for DSF/ASF. Foreclosure and short sale volume is up +31%; non-distress seller volume is off 20%. If you handle a lot of listing and the market seems slow, this is likely the reason why.Some areas did better than others. The attached chart shows different neighborhoods in Aurora.  Each region has the neighborhood...
Comments 8
By Tatyana Sturm, Denver Realtor, GRI, Denver/ Aurora CO Relocation
(Exit Realty DTC)
Just Listed in Heritage Eagle Bend, 23456 East Canyon Place, Aurora Colorado, 80016. This 3 bed 3 bath Ranch is located in The gated Golf Community of Heritage Eagle Bend. The home has over 3200 finished square feet and sits on a quarter acre lot in a quiet cul-de-sac. It is competitively priced at $309,000. Sure to sell fast, call for a showing today.
Comments 3
Every homeowner knows that they need home insurance. It’s common knowledge that a home insurance policy covers theft and damage caused by weather or fire. But besides that, what’s really involved? What is protected, and what isn’t? It’s important to understand what you’re getting. The typical home owners insurance policy will cover: a) Dwelling (your house, attached structures, built-in appliances, plumbing, heating, permanently installed air conditioning systems, and electrical wiring) b) Other Structures (garages, storage sheds, and fixtures attached to the land like fences, driveways, sidewalks, and patios) c) Personal Property (the contents of your home and other personal items owned by you or family members who live with you) d) Loss of Use (covers living expenses if you can’t live...
Comments 0
By Tatyana Sturm, Denver Realtor, GRI, Denver/ Aurora CO Relocation
(Exit Realty DTC)
The Kings at Parker and Arapahoe at the Arapahoe Crossings shopping center is having a Grand Opening of the Newly remodeled store. The Schedule is as follows: 6 AM: Coffee and Donuts 9 AM: Grand Opening and Cake cutting 12-2 PM: Face Painting for the kids 11AM - 4 PM: Pepsi Hut is serving free Brats, Chips and Drinks 5 -7 PM: Dinger from the Colorado Rockies appearance. 6412 South Parker Road, Aurora, CO There will also be some fantastic sale items: Milk will be $1.99 a Gallon Bone in Rib Eyes will be $4.99 a pound
Comments 2
By Thomas Recke, ACI
(Pillar To Post)
Pillar To Post welcomes your comments and concerns. You can contact us: Click Here MOTIVATION THE LAW OF ATTRACTION Have you ever wondered why some people seem to "get lucky" and attract all the success and good things they want and others seem to have the worst luck bumping up against obstacle after obstacle? CLICK HERE FOR MORE >> SAFETY SENSE DUST-FREE FANS Want to guarantee dust-free breezes through your house? Clean all your fans the expert way and cut down on allergy symptoms. CLICK HERE FOR MORE >> HOUSE HINTS WELCOME FALL These easy, affordable touches will cozy up your home for the cooler days and longer nights ahead. CLICK HERE FOR MORE >> RELAXATION TIME SECURE YOUR HOME FOR LESS You don’t have to break the bank to make your home more secure. There are low-cost tricks that c...
Comments 2
By Tatyana Sturm, Denver Realtor, GRI, Denver/ Aurora CO Relocation
(Exit Realty DTC)
I personally received this invite for The Grand Opening from the club manager, David Summit, he would like to extend this invite to my clients and friends.  Please take the time to stop by and see this beautiful club and check out the shops at Cornerstar while you are there.  Thanks David for the invite I hope to see all you there.
Comments 1
By Thomas Recke, ACI
(Pillar To Post)
THINGS YOU NEVER KNEW YOUR CELL PHONE COULD DO   There are a few things that can be done in times of grave emergencies. Your mobile phone can actually be a life saver or an emergency tool for survival. Check out the things that you can do with it: 1. Emergency The Emergency Number worldwide for Mobile is 112. If you find yourself out of the coverage area of your mobile; network and there is an emergency, dial 112, and the mobile will search any existing network to establish the emergency number for you. Interestingly, this number, 112, can be dialed even if the keypad is locked. Try it out. 2. Have you locked your keys in the car? Does your car have remote keyless entry? This may come in handy someday. If you lock your keys in the car, and the spare keys are at home, call someone at hom...
Comments 11
By Tatyana Sturm, Denver Realtor, GRI, Denver/ Aurora CO Relocation
(Exit Realty DTC)
Some good news for residents of Aurora South.  As you can see from the chart below many categories remained constant from the previous year, but what I would like to point out is there was a significant drop in the number of active listings from this August compared to August of 2007 and the number of new listings was also over 40% less than the previous year.  This is a very good indication that the Denver housing market is beginning to stabilize and head towards recovery even though the there was a drop in the average sold price.  The same holds true for the condo sales.
Comments 1
Explore Aurora, CO