There were two recent articles regarding the economic strength of the Denver economy and the overall strength of the Denver real estate market.  The negative press concerning our national economy has been non-stop.  Unfortunately, people believe what they read, and I'm afraid that general fear has spread to our local level, when its not warranted.   The two articles provide a dose of goodness concerning our "Jewel of the Rockies"!    Highlights: 1) Job growth increased by 2% in 2007 with 45,500 new jobs.  Continued job growth is forecast for 2008. 2) Unemployment dropped to 3.8% in 2007, the lowest since 2000, and well below the national average of 4.6%. 3) Wage & salary income rose 6% in 2007 and is projected to increase an additional 5.5% in 2008. 4) Denver didn't experience the run-u... 04/24/2008

An article from The Denver Post, reports that with homes built mostly in the 1940s and 1950s, home resale prices are falling in the unofficial Park Hill east neighborhood.  According to Kathleen Clifford, a broker with Re/Max of Cherry Creek, the average price for a house in Park Hill's eastern bloc is about $176,000, far lower than much of the neighboring Park Hill areas.  She said the first few months of 2008 have seen that average price drop to $145,000.  "Because of the area's proximity to Stapleton, with all its amenities, the area is becoming more and more desirable," she said.  Park Hill east typically offers modest brick homes and row-house types left over from the mid-20th century.  A broker associate with HQ Homes in Denver, Christine Barton, says location makes the eastern se... 04/23/2008

Since late 2006, over 250 banks have went out of business due to the subprime meltdown, and inability to sell their wholesale mortgage notes to wall street investors. Add in defaults, foreclosures, and forebearances, and banks continue to feel the hurt, with having to service these mortgage notes. But a 30 year fix is at 5.5%. And it is, and it has been for the last few months, as market dips have allowed rates to drop to 3 year lows. Refinance activity applications have surged on the news, and everyone is back on the gravy train, to try to lock in at that 5.5% rate. Good Luck. As a mortgage broker, I can tell you my wholesale investor list consists of a core group of portfolio lenders who service their own loans at amazing rates, for the select lucky few who have a low enough debt rati... 04/22/2008

Michael Clarkson invited to be a guest on Mike Rosen Show on 850 KOA  April 29, 2008 from 10 am - 11 am (Listen Live at http://www.850KOA.com)   Dear Michael,  Michael Clarkson to be a guest on 850 KOA speaking about local real estate market conditions  For more information, please click to http://www.MileHighMLS.com As my loyal readers and valued clients will attest, I have been talking about how underrated our local market is. I have been writing about it for about a year and continue to be optimistic about our local market.  Well, my blogs have come to the attention of Mike Rosen, popular radio host on Denver's #1 radio station, 850 KOA.  Mike's invited me to discuss the local market conditions on his show from 10 AM to 11 AM on Tuesday, April 29, 2008.  Please feel free to listen at... 04/22/2008

MARKET REPORT - DENVER REAL ESTATE - DENVER SOUTH EAST - MARCH 2008    This part of the Denver real estate area has an oversupply of homes available now.  With about 9 months supply, sellers will need to watch their pricing and condition.  Patience is necessary because if you are trying to sell right now, one month seems like a year.  It can be very frustrating indeed!  So with an average days on market at 129, the sellers may be going a bit crazy.  The buyers are entering the market more now than before and most have seen a lot of inventory.  If you are priced right and the home shows well, these buyers will know it and put forth their offers on your home.  Pricing the home right and creating offers is far more important than waiting at the wrong price to negotiate with someone.  That ... 04/18/2008

Denver City Council will vote on the rezoning applications in the Sloan Lake and West Highlands neighborhoods after a public hearing on April 28th. The hearing is scheduled for 5:30 PM in the City Council chambers. The Denver Board of REALTORS generally opposes involuntary "downzonings". Downzoning from R-2 to R-1 limits potential use of the property and could negatively impact values. Duplex properties are very popular in these neighborhoods and have always been common.  Some of the new contemporary styles can draw higher than average demand, evident in marketing time and price.  Keeping the zoning as R-2 will help retain character, appeal and owner/builder flexibility. An article regarding this issue can can be found following the following link to the North Denver News: http://northd... 04/18/2008

I love, love, love to rollerblade. I also love, love, love Sloan's Lake in Denver. Put the two together and you have a happy Jennifer.Temps today in the 70's, amazingly blue, almost purple sky (at least thru my rose-colored glasses), light wind... ahhhhh... rollerblade bliss. My poor blades have been packed away for nearly three years - Alabama is not rollerblade-friendly - so I was pleased that I could find them and that the wheels still turn relatively easily. Sloan's Lake is a perfect rollerblade park. It's, I dunno, maybe three miles around on a wide, smooth path right next to the lake. As you're blading, you can watch the fish jump and the ducks herd their young, or focus inland to see young boys playing soccer or dog-owners playing catch. The lake itself has that lovely lake smell... 04/14/2008

Forbes seems to always have a list for this or that, and this month is no exception, and Denver is noted again.  This time, Denver is the 7th Best City to sell a home, out of 40 cities that were included in the study.     Its interesting though, this story was released in the Denver Business Journal the same day it announced that Denver home sales are down. And just earlier in the week USA Today highlighted Denver foreclosures.    So yes, they are down - but the difference is how its compared against other areas of the country.   One thing if for certain.  Mixed messages abound.    There are many areas of Denver & the suburbs that have really great numbers still -  but then there are also areas that are struggling.   So the real story is, read it but then ask.  Talk to a professional.  ... 04/11/2008

Home for Sale Denver CO                                                                                           2996 S Newport St      Property InfoType: Residential Price: $389,900 Beds: 4   Baths: 5 Acres: 0.22  Yr Blt: 1966 Fin. SqFt: 2,800  MLS#: 638443     Property Links    RemarksThis Impeccably Maintained Home Has Hard Woodfloors Throughout,Tile Floors In The Bathrooms,Fresh Paint,Newer Carpet In The Basement.The Generous Backyard Features A Utility Shed and Patio . Your New Home Is Only A One Block Walk To The Park! Air Cond-Central, Cable Available, Ceiling Fan, Dbl Pane Windows, Deck, Disposal, Dishwasher, Formal Dining, Fence, Garage Dr Opener, Gas Grill, High Speed Access, Master Bathroom, Microwave Oven, Newer Carpet, Pet Free, , Rv Parking, Smoke Alarm, Self-Cleaning Ov,... 04/11/2008

To continue with the story of new construction here in my beloved ‘hood (here and here), I thought it might be interesting to talk about the what's, where's and how much's of what's available here.Your best bet for entry level single family homes (which includes attached duplexes and triplexes, but not condos or townhomes) is in East Bay. East Bay is just a few blocks from Sloan's Lake (my favorite park) and was developed in the mid 1990's. While the homes are detached (no common walls with other homes), they're on ridiculously small lots, so are probably better labeled patio homes. However, the homes have held up well through the last ten years and offer tremendous square footage for the price. I lived in East Bay for awhile in a 4 bedroom/4 bath house with over 2700 finished sqft. Pri... 04/11/2008

And even if you are not an architecture aficionado, this is an event that most anyone will enjoy. This weekend, Doors Open Denver will highlight historical architecture and culture as the city celebrates "150 Years of Denver Architecture". According to Denver city's web site: On the weekend of April 12 and 13, residents and visitors will have the opportunity to experience Denver’s built environment in a new way—from inside many buildings that are not ordinarily open to the public. Attendees will have access to more than 80 of Denver’s prominent architectural gems and lesser-known treasures. These include corporate offices, mansions, museums, architecture and design studios, hotels, commercial and retail buildings and more.   I have been of many of the buildings that are part of this Den... 04/11/2008

Denver CO Home for Sale                                                                                             3234 S Gregg Ct       Property InfoType: Residential Price: $749,900 Beds: 3   Baths: 4 Acres: 0.45  Yr Blt: 1955 Fin. SqFt: 2,618  MLS#: 596753     Property Links    RemarksCustom Ranch Situated In The Best Block Of Cherry Hill Heigts.19,400 Sq Ft Lot Offers Forested-Park Like Grounds.Heated Pool W/ Elec Cover.Custom Patio.Great Sunroom/ Wood Floors/Built-Ins/Evap Cooler/Slaven School. Single Level Living At Its Finest.Must See! Attic Fan, Burglar Alarm, Ceiling Fan, Cook Top, Covered Patio, Double Oven, Dishwasher, Evap Cooler, Fence, Garden Area, Gas Logs, Great Room, Landscaped Prof, Master Bathroom, Microwave Oven, Newer Carpet, , Refrigerator, Rv Parking, Smoke Free,... 04/11/2008

When people in Denver think of the number seven, it is usually associated with John Elway; however, a new Forbes magazine reports ranks Denver as the 7th best city in which to sell a home.While a 6.4 percent drop in prices last year had a chilling effect on the market, this year things have been different. The vacancy rate reduced by 20% over last year. There has been a large decline in new construction starts (down 49%) and the job market is looking very healthy with a 2% rise!To read the full article with more detail on the report ranking, click here!-Katie4HomesDenver Homes 04/10/2008

Isn't it funny how you assume that the way things are done in YOUR market is the way they're done everywhere?And then when you find out it's not, you hear that eerie Twilight Zone music playing in the background?I remember when I worked with my first out-of-town buyer way back in my first year. They were moving to Denver from Chicago. Found ‘em a lovely house, wrote a lovely offer on it; all was going well until we received the counterproposal back from the seller.Among the provisions countered was the Date of Possession. The seller changed my requested "Date of Closing" possession provision to "Three Days Following Closing" at 5pm. No biggie (so I thought), and delivered the counterproposal to my buyers, expecting them to happily sign it.Uh, no. They were incensed by the change of the ... 04/10/2008

Home for Sale Denver CO                                                                                      4195 E Eastman Ave        Property InfoType: Residential Price: $1,120,000 Beds: 3   Baths: 4 Acres: 0.21  Yr Blt: 2007 Fin. SqFt: 4,023  MLS#: 549562     Property Links    RemarksEisenhower Pk Is Next Observatory Pk*22acre Pk W/71 Mile Highline Trail,Rec Center & Tennis*walk To Wellshire Golf*light Rail, Shops&more*beautiful Tuscan House On Cul- De-Sac!oversized Corner Lot!mastr Retreat! Open Flrpln, 3 Car Alleywy! Buyr Incentivs Air Cond-Central, Ceiling Fan, Cable Installed, Covered Patio, Cul-De-Sac, Central Vacuum, Dbl Pane Windows, Eating Space/Kit, Formal Dining, Gas Logs, Great Room, Kitchen Island, Landscaped Prof, Master Bathroom, Master Suite, New Home, , Patio, Quick ... 04/09/2008

Forbes: Denver 7th-best for home sellers, an article from the Rocky Mountain News, reports that according to Forbes magazine's study of 40 large metro areas, Denver is the 7th-best city in which to sell a home.  Forbes.com said, "Overbuilding and a high foreclosure rate stymie Denver's housing market, which last year saw a 6.3% drop in prices.  Still, area homes are selling, and the vacancy rate, while still at a pro-buyer 3%, last year shrunk by 20%. The 49% drop in construction starts, the 12th-largest cut in the country; and 2% rise in new jobs, the 9th-highest rate in the country; are good news for sellers."  Each city was ranked by its 2007 unsold vacancy rate, calculated by the U.S. Census American Housing Survey, and how much the market had tightened or loosened when compared wit... 04/09/2008

Market Trend Analysis - Denver Metro Selected Towns/CitiesBased on information from Metrolist, Inc. for period March 4, 2008 until April 4, 2008.Single Family Residences - All Price LevelsExcludes Housing Not Listed in MetroListNote: Six (5.5 to 6.5) Months of Inventory Tends to Indicate Neutral Market, Over 6.5 Months a Buyer's Market, Under 5.5 Months a Seller's MarketPrice RangeActive% of MarketSold in Past 12 MonthsSold Per MonthMonths of InventoryCurrent Activity Status Curr Month Under Contract Near Term Sales Trend $                  -    $        100,000                1,161 5.64%               2,556                   213                    5.5  Seller's Market                   716 Seller's Trend $        100,001  $        200,000                4,750 23.09%             10,950 ... 04/06/2008

Occupancy Is at Record and Near-Record Highs in Denver Lastly, occupancy of rental units is running at historic highs. As I was quoted in the Denver Business Journal, many of you are starting to invest in real estate. First time investors are starting to jump into the market. With a near perfect storm of low interest rates, high demand, fewer new homes coming online, and the strong local economy, Denver is becoming starved for rental housing.  Here's what some of my very own clients are doing. (Click here to see the Denver Business Story.)    Additionally, apartment rents are going up and there are increasingly higher rental standards.   Why? Demand.   Landlords can be picky in tight markets, not so much in soft markets. So, several first-time landlords are taking the plunge. They are g... 04/05/2008

Lower Home Inventories - Crisis? Been there. Done That! What do lower inventories tell you intuitively?   It tells me that supply is lower than demand.  And when supply is lower than demand, what happens to price?  It goes up! Well, below is a chart showing the national scene.  You can see the preliminary number for February 2008 - the latest statistics available - show 9.6 months of inventory.   Just looking at this chart, you get a real sense of why there is panic:  Months of Inventory (how long it would take to sell all the actively listed homes to sell if no more came on market) has more than doubled.  Most of THAT change took place in the past 14 months. Here are the Months of Inventory numbers from the National Association of Realtors®:•·        2005 - 4.5 Months of Inventory•·   ... 04/05/2008

 The 16th Street Mall Turned 25 Years Old Last October. The Mall is Vibrant, Urban and Pedistrain Friendly with Free Shuttles that span from Broadway to Behind Union Station in Historic LoDo. The Shuttles Serve an Average of 55,000 Commuters and Tourists per Day.On Tuesday April 8, 2008 there will be a Public Meeting to discuss the Malls next 25 years of the 16th street Mall 04/05/2008