Denver’s Housing Market: A Sellers Market?

Denver is No. 2 in the nation for the shortest time a home stays listed — 33 days — far below the national median time of 89 days

Yes everyone you are reading my blog right.  It is a sellers market in some price ranges and in certain neighborhoods. The advice right now is look early, think fast and decide quickly if this is the home you want.  On top of that it’s about full price offers or more.

I am still in shock about this market and I think my clients are too.  Where did this come from and why does it feel like it came out of nowhere?

Here are some answers:

• In recent months, buyer demand has surged and the number of homes for sale in metro Denver has dropped sharply.
• Unsold homes on the market totaled 10,325 at the end of March, a 42 percent drop from March of 2011.

Does your home fall into this new sweet spot?

High demand homes are priced from $250,000 to $400,000 and in central Denver neighborhoods such as Park Hill, Congress Park, Curtis Park, Mayfair and Highlands.

Even though metro Denver homes have shown only marginal price appreciation so far this year, realty analysts say strong demand and multiple offers could soon push values higher in lower to moderate price ranges.

One factor that makes price predictions difficult is foreclosures.

Lenders hold an estimated 1,650 foreclosed properties in metro Denver that haven’t yet been put on the market. As the market strengthens, more of the foreclosures will be listed for sale, which in turn could slow down price appreciation.

Unfortunately sellers of homes listed higher than $500,000 generally aren’t enjoying the market heat.

If you have any questions or would like to buy or sell your home give me a call or email me anytime.

You can’t spell ReaLTor without LT!

Lane Tuetken
Realtor/Owner
LT Real Estate.com
email: Lane@LT-RealEstate.com
cell: 303-903-7639
LinkedIn Profile-Read recommendations from former clients

Click here to read the full article on Denver’s Housing marketing

Foreclosure Numbers Fall in Colorado!

Loving the news that came out last week from the Colorado Division of Housing that foreclosure fillings and foreclosure auction sales were down during the first four months of the year when compared to the same time last year.

Some of the data:

Foreclosure filings in Colorado’s metropolitan counties were down 1.0 percent for the first four months of 2012 , comparing year over year, falling from 8,476 to 8,395.

Over the same period, foreclosure auction sales were down 29.0 percent, dropping from 6,177 to 4,387.

For the month of April, foreclosure filings were up 7.3 percent from April 2011 to April 2012 while foreclosure auction sales fell 36.2 percent over the same period.

Foreclosure at auction sales are opened foreclosures that have proceeded through the full foreclosure process to final sales at public auction.

From March 2012 to April 2012, foreclosure filings fell 10.8 percent while foreclosure auction sales rose 6.1 percent.

Since 2008, March and April have tended to be two of the most active months for new foreclosure filings in Colorado, with totals in both filings and auction sales tending to drop off in May.

Please contact me if you have any Real Estate questions.  I am always happy to help.

Lane Tuetken
Realtor/Owner
LT Real Estate.com
email: Lane@LT-RealEstate.com
cell: 303-903-7639
LinkedIn Profile-Read recommendations from former clients

To read the full article on foreclosure numbers in Colorado

What is a Short Sale?

Please allow me to make something abundantly clear……THERE IS NOTHING SHORT ABOUT A SHORT SALE!!!! The term short sale has nothing to do with time. A short sale is a property whose market value is lower than what is owed on it. The seller is asking their lender(s) to accept a payoff which is less than what is owed.

There are no guarantees with short sales. The lender(s) may or may not agree to selling the house at a lower price. Their loss is usually significant and the transaction takes a LONG time.

Short sales can be a good deal for a buyer, but they have to be incredibly patient. Many listing agents think they can successfully negotiate a short sale, but unless they are experienced, they can cause further delays and add to an already frustrating situation.

I’ve had a client under contract on a short sale for 6 months now and there’s no end in sight. We’ve had excuses after excuses after excuses, from the listing agent. Throughout the entire transaction, she’s broken both arms, patting herself on the back and tooting her own horn. At the end of the day though, we still have no approval. My client really wants the house though. How bad? He’s been living in a hotel for 3 months.

So, my advice to you, think long and hard about attempting to purchase a short sale.

Lane Tuetken
LT-RealEstate.com

Read more on Short Sales..

Superbowl appetizers……the spicy kind.

Wontons and egg rolls, not to be mistaken for Chinese food.

OK, so maybe I stole the general theme, from a friend’s dinner party, but the key words are definitely “general theme”.  As with all of my creations, the base ingredient is dry-aged, corn-fed Iowa beef.  (See my next blog regarding Iowa beef) In addition to ground beef, here’s the rest: cream cheese, pepperjack cheese and chipotle chiles in adobo sauce.  Brown ground beef, dice chipotles and mix all ingredients.  Allow to cool in fridge for a day or two, then proceed to fill wonton wrappers and egg rolls.  Freeze overnight (or 2).  Preheat oven to 400 degrees.  Wontons about 10 minutes and egg rolls 15-17 minutes.  Serve with ranch dressing or a sour cream concoction.

Remember, you can contact me for all of your real estate questions and needs.

Lane@LT-RealEstate.com

Corn-fed, dry-aged Iowa beef

I grew up on a farm in Iowa, so I truly appreciate the quality of Iowa beef.  In addition, I fully support the hard working farmers and ranchers of Monticello, Iowa.  That being said, every year I drive 2,000 miles, Smoky and the Bandit style, to a small butcher shop in Earlville, Iowa.  I’ve been doing business with Dan’s Earlville Locker for more years than I can remember.  Monticello farmer, Pete Hall, takes incredible pride in his beef, so as long as he’s in business, I’m working with him.

My wife once asked (before she was my wife) “Colorado has cows, why drive to Iowa?”  Then, I grilled a sirloin steak for her and we got married.  Not sure if I need to blame Pete, but that’s the order of events.  Enuf said, she doesn’t order beef in restaurants anymore.  Yes, I created a meat snob

It used to be just me, but over the years, my bandwagon has grown.  In a single trip, I’ve brought to Denver as much as 5 steers and 6 hogs.  I’ve almost lost track of who wants meat from Iowa.

A final note….that 28oz Porterhouse steak on *****’s menu for $48……I’ve had better for 10 bucks (gas included).

Remember, you can contact me for all of your real estate and beef needs.

Lane@LT-RealEstate.com

Charity Chili Competition

On Thursday Feb 2nd, DaVita sponsored a chili competition, which benefited Project Angel Heart.  Surprisingly enough, this was the 1st food competition that I have entered.  There were a total of 20 competitors, which offered a nice variety of flavors.  Kickin’ Iowa Meat Chili was the name of my entry, because it featured beef and pork from farms in Iowa.  Chunks of smoked pork belly, hunks of chuck roast and chorizo sausage.  The kick was chipotle peppers in adobo sauce.

When I cook, I just make it up as I go.  I never create the same recipe twice, but I always start my chili at least 2 days early.  I start with a hot base, then add the ingredients raw.  Within a day, they are cooked and, within 2 days, they’re falling apart.  I normally don’t server chili with cheese or sour cream, because I believe the dish should speak for itself….unadulterated.

Please remember you can contact  me for all your Colorado Real Estate questions,

Lane Tuetken
303-903-7639
Lane@LT-RealEstate.com

What is a Short Sale?

Please allow me to make something abundantly clear……THERE IS NOTHING SHORT ABOUT A SHORT SALE!!!! The term short sale has nothing to do with time. A short sale is a property whose market value is lower than what is owed on it. The seller is asking their lender(s) to accept a payoff which is less than what is owed.

There are no guarantees with short sales. The lender(s) may or may not agree to selling the house at a lower price. Their loss is usually significant and the transaction takes a LONG time.

Short sales can be a good deal for a buyer, but they have to be incredibly patient. Many listing agents think they can successfully negotiate a short sale, but unless they are experienced, they can cause further delays and add to an already frustrating situation.

I’ve had a client under contract on a short sale for 6 months now and there’s no end in sight. We’ve had excuses after excuses after excuses, from the listing agent. Throughout the entire transaction, she’s broken both arms, patting herself on the back and tooting her own horn. At the end of the day though, we still have no approval. My client really wants the house though. How bad? He’s been living in a hotel for 3 months.

So, my advice to you, think long and hard about attempting to purchase a short sale.

Lane Tuetken
LT-RealEstate.com

Read more on Short Sales..

Denver Holiday Events

It’s that wonderful time of year again!  Below is a list of some of my favorite holiday events in Denver.  If you have any good recommendations that I missed please let me know.

Happy Holidays Everyone!

Lane Tuetken
LT Real Estate

Living Lights

Presented by Butterfly Pavilion and Insect Center

Holiday lights are even more festive when they fly, flutter, and crawl! Join us this holiday season at the Butterfly Pavilion for Living Lights event. Experience a journey of indoor and outdoor light displays featuring some of the world’s smallest wonders – invertebrates. You’ll see scorpions glow, watch the rainforest come alive with firefly lights, and marvel as the gardens sparkle with thousands of holiday lights.

Location:
Butterfly Pavilion and Insect Center [map]
6252 West 104th Avenue
Westminster, CO 80030
720-974-1878

http://www.butterflies.org/events/Living-Lights/living-lights-event.php

Ticket Info:
$5 -$9
Happens:
12/10/2011 – 12/23/2011
5:30 pm

Happy Holidays!

Lane Tuetken
LT Real Estate

Denver Zoo Lights

Presented by The Denver Zoo

Come and experience a holiday light safari with more than 38 brilliantly-illuminated acres of lights, featuring more than 150 animated animal sculptures that swing through trees, jump across lawns, hide in bushes and appear in places where they’re least expected.

Location:
The Denver Zoo [map]
2300 Steele Street
Denver, CO 80205
3035719470
denverzoo.org
Ticket Info:
TBA
Happens:
12/9/2011 – 1/1/2012
5:00-9:00pm

Happy Holidays!

Lane Tuetken
LT Real Estate