Posted Jan 15, 2014, 7:23 PM
|
 |
I took a bus pic, CIRRUS
|
|
Join Date: Mar 2009
Location: Soon to be banned
Posts: 1,697
|
|
Good news on the housing market (bad if you're looking to buy; prices goin' up)
More evidence state's foreclosure crisis is over
Quote:
It’s the latest sign that Colorado’s foreclosure crisis is over.
A national report released today shows that only 10 percent of the homes in the state with mortgages are “deeply under water,” which is almost half the national average of 19 percent.
The report by RealtyTrac defines “deeply under water” in which the loan to value ratio is 125 percent or above, meaning the homeowner owes at least 25 percent more than the estimated market value of the homes.
Only 10 other states scored better than Colorado by that metric.
|
Record year for housing
Quote:
A report released on Wednesday by Metrolist shows a record 54,024 homes closed in 2013, a 17 percent jump from 2012.
“That is a significant increase; I knew it was up but I didn’t think it was by 17 percent,” said Jim Nussbaum, a veteran broker with Kentwood Real Estate.
And the average sales price was $306,910, an increase of almost 10 percent from $279,926 for all homes sold in 2012.
“Our brokers and agents have seen a very busy year with a record-setting selling season,” said Kirby Slunaker, CEO and president of Metrolist Inc.
Last month, 2,807 homes were placed under contract a 9 percent drop from the 3,090 in December 2012 and a 22 percent drop from the 3,607 in November. Typically, there is a large drop in contracts in December from November for seasonal reasons.
|
2014 could be a good year for Denver housing
Quote:
The Denver-area home market boasted a great year in 2013, as it was one of the first metropolitan areas in the U.S. where home prices surpassed pre-recession prices.
And next year may even better, if one analyst’s crystal ball is correct.
Denver is projected to experience an overall increase of 9 percent in 2014, according to an analysis of the 50 biggest metropolitan markets by Ingo Winzer, founder of Local Market Monitor.
That is a rosier projection than many local Realtors are expecting in 2014 and is far better than what Zillow has forecasted for the Denver-area housing market.
. . .
Separately, the Wall Street Journal, a sister publication to Barron’s, in a front-page story on Monday, also highlighted the Denver-Aurora area as one of the first areas in the nation to hit peak prices this year, something that is now only happening in a number of other cities in the country.
Today, Case-Shiller will publish its closely followed index of 20 major markets for October. Many local observers believe that once again, Denver home prices will be at record levels, according to Case-Shiller.
. . .
The low supply of homes on the market will keep pressure on home prices, he said.
“I just don’t see where the new inventory to satisfy demand is going to come from, especially with the foreclosure pipeline drying up,” Hornung said.
|
But nevermind all that. Burgers, people. Burgers.
Denver sees burger bonanza as eateries find profits in signature sandwiches
|
Prev
Linear Mode
