Denver Real Estate News & Recap

A Street in Berkeley Neighborhood of Denver

Denver is Nation’s 6th Best City for Business: Denver is the nation’s sixth-best city for business out of 102 major metro areas, MarketWatch declares in its annual ranking. read more here

Vestas Lands 15th North American Wind Turbine Order of 2010: Wind-turbine manufacturer Vestas said Tuesday its Colorado plants will manufacture most of a new, 55-turbine order for a wind farm in British Columbia, Canada. This is in addition to the recent 28-turbine order for the Macho Springs Wind Energy Project wind farm to be built in southwestern New Mexico. read more here

State Adds 3,800 Jobs in November: Colorado employers added 3,800 jobs in November — the first instance of three consecutive months of job gains in three years, according to the state’s Department of Labor and Employment. read more here

Lonely Planet Rates Denver a Top 10 U.S. Place to Go: Denver has been named one of the “Top 10 Places to Go in the U.S. for 2011” by travel-guide publisher Lonely Planet. “It’s like Paris in the West,” Lonely Planet gushes. read more here

Nine Colorado Hotels Ranked Among Best in the World: Nine Colorado hotels, including two first-time honorees, are listed among Travel + Leisure magazine’s top 500 hotels in the world, the magazine announced Monday. The Sonnenalp of Resort of Vail; Little Nell of Aspen; Ritz-Carlton, Bachelor Gulch of Avon; The Broadmoor of Colorado Springs; St. Regis Aspen Resort; Park Hyatt Beaver Creek Resort & Spa; Hotel Teatro of Denver; Vail Cascade Resort & Spa; Ritz-Carlton, Denver. read more here

DIA Named Best North American Airport by Business Traveler: Denver International Airport has been named “Best Airport in North America” by Business Traveler magazine for the sixth straight year. read more here

Boulder Ranks No. 1 in Brainpower and Ft. Collins No. 5: Boulderites as a whole are the most well-educated of residents living in any city in the country, according to the U.S. Uncovered study conducted by Portfolio.com, a business news website. Colorado is the only state to have two cities in the Top 10 list of the study, with Fort Collins ranking as the fifth most educated city. read more here

Springs Building Sells for Largest Amount in 2010: A 2-year-old medical office building next to the new St. Francis Medical Center in northern Colorado Springs has been sold for $19.4 million. It’s apparently the largest private real estate transaction of the year, and comes at a time when investment in commercial real estate has slowed dramatically because of the ongoing economic slump. read more here

Thank you to Jim Renshaw at Land Title for compiling this monthly update of news impacting Denver real estate.

Michelle A. Potter, Denver Real Estate Agent
(303) 489-4035
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Denver Real Estate – November Economic Recap

 

Here is snapshot of events impacting the Denver real estate market in November:

Analyst Predicts Housing Rebound: Expect higher mortgage rates, relatively flat home prices and a rebound in home sales next year, Lawrence Yun, chief economist for the National Association of Realtors, told an audience of metro Denver real-estate professionals on November 17th. read more here

Mortgage Purchase Applications Hit 6-Month High: Mortgage applications to purchase homes increased 14.4 percent last week on an adjusted basis compared to the previous week, according to the Mortgage Bankers Association weekly survey. read more here

Market for Commercial Property Increases: The price of U.S. commercial property rose 4.3 percent in September compared to August, the largest increase in 10 years, Moody’s Investors Service reported. read more here

Colorado Urban Foreclosure Sales at 19-Month Low: Foreclosure sales at auction in Colorado’s largest counties fell to a 19-month low in October as the mortgage industry slowed down action on foreclosures, the state Division of Housing reported on November 22. read more here

Denver-area Luxury-Home Sales up 20.5% in October: Sales of $1 million-plus homes in the Denver metro area rose 20.5 percent in October, compared to the same month last year, according to Metrolist Inc. data. read more here

Plentiful Powder Draws Skiers to Mountain Resorts: Thanks to a series of winter storms pounding Colorado’s high country, many of the 18 ski resorts now open are reporting their best early season conditions in years. read more here

 Holiday Hiring Up this Year: It may be yet another sign the economy is ready to rebound. Seasonal hiring for the holidays is expected to be stronger than last year.  read more here

Kiplinger’s: University of Denver, Colorado College Named Top Values: Two Colorado private colleges are rated by Kiplinger’s Personal Finance magazine as among the 200 private schools it considers to be the “best values” in America. read more here

Black Friday 2010 Finds Many Shoppers ‘Feeling Better’: As “Black Friday” kicked off the holiday shopping season and brought flocks of customers to metro-Denver stores, some retailers said they sensed more optimism and energy among shoppers this year. read more here

Vestas Plans More Hiring in Colorado: Danish wind turbine manufacturer Vestas Wind Systems plans to hire 100 more people at its Windsor blade plant in the next six to 12 months.  read more here

Thank you to Jim Renshaw of Land Title for compiling these articles effecting Denver real estate.

Michelle A. Potter – Broker Associate selling Denver Real Estate
303-489-4035

 

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Groundbreaking on 14th Street in Denver

Today marked the groundbreaking for the $14 million upcoming improvements to 14th Street in downtown Denver. The improvements are slated for the section of 14th , dubbed the “Ambassador” — between Colfax Ave. and Market St. — which consists of hotels, the Denver Performing Arts Complex, and the Convention Center to name a few.

The new Spire Condominiums are also conveniently located in this premier Denver location.
Some of the proposed changes include — enhancing signage, installing bike racks, adding trees and flower pots, and adding a bike lane. Read more about the project’s signage at Denver Theater District.

Check out the Denver’s 14th Street, “Ambassador” video, 3-D rendition modeled and produced by: Parsons Brinkerhoff’s Project Visualization Group in Denver, CO.

Michelle A. Potter, Denver Real Estate Agent (including the suburbs)
303-489-4035

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Denver Housing Rebound

Here is more from the National Association of REALTOR’s Chief Economist, Lawrence Yun, on the recovery of the Denver housing market during his visit this week:

Michelle A. Potter, Denver Real Estate Agent (including the suburbs)
303-489-4035

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Denver Real Estate Housing Recovery?

I attended a cozy little gathering of over 700 Denver real estate agents this week to hear the National Association of REALTOR’s (NAR) Chief Economist, Lawrence Yun PhD, weigh in on the state of the Denver housing market. 

Dr. Yun predicts the Denver housing market, having experienced more of a blip rather than a big bubble — as in other markets — will recover slightly next year. 

He notes that comparing the upcoming winter months in housing sales against the years of our pre-blip period of 2000 and 2001 will provide a key indicator as to whether we are experiencing a recovery.  If home sales reflect the same or increased prices in this comparison, evidence of a recovery is likely.  Furthermore, any upward momentum can further spur a Denver housing recovery.

Affordability has also assisted in the health of the National real estate market with rates hovering at historic lows. He does believe mortgage rates will move up into the 5 percent range next year and push 6 percent in 2012.

Finally, Dr. Yun spoke to the stringent underwriting standards currently in place.  Apparently, Federal Housing Administration (FHA) loans are at one of the lowest delinquency rates in history.  This might prompt banks to open up underwriting standards a bit to allow additional buyers enter the housing market.

Michelle A. Potter, REALTOR in Denver and the Suburbs
303-489-4035
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