Feb. 25, 2021

Town of Castle Rock CO - Market Update January 2021

 

 

The Town of Castle Rock is located about 30 minutes (29 miles) south of Denver and enjoys a population of 70,687.  The elevation of Castle Rock is 6,202 feet above sea level.   Castle Rock includes Castle Pines and many rural farm areas outside the City limits.

 

 

The Castle Rock real estate market for the month of January 2021 saw a slight decrease in sales over the previous month, which for the most part stems from the extremely low inventory.  These stats include Castle Pines and Castle Pines Village, single-family detached homes, and multi-family homes, courtesy of Joan Cox, House to Home, Inc.

 

Sales for January 2021

Sales - 192 properties sold ranging from $271,000 to $2,700,000 (last month -  214 sales)

Average Days on Market - 18 days (last month - 45 days)

Average Price $527,500

List Price/Sold Price - 100%

These homes were built from 1889 to new builds (2020)

 

The highest-priced property sold was $2,700,000 and is located in Castle Pines Village.   It is a custom home built in 2008.   It has 6 bedrooms, 8 bathrooms, with a total of 8,696 square feet, and a 4-car garage on 1.26 acres.     

 

If you are looking for the current active listings in Castle Rock, including Castle Pines - here are the active listings in Castle Rock.   

 

Looking for HOMES FOR SALE ON ACREAGE in Douglas County?

 

 

If you are currently looking in Castle Rock for your dream home, give me a call.   Use the link above to see what homes are currently available. 

  

 

Feb. 18, 2021

Luxury Home Sales in Denver CO - Market Update January 2021

 

A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area for over $1 million.   Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

  

Here is how the luxury market fared for the month of January 2021

Total sales - 177 homes ranging from $1,000,000 to $7,850,000 (last month was 271 homes, 2020 was 86)

Average Days on Market - 68 days (last month was 49 days last month and 2020 was 85 days)

Average price per SF (Total) - $283.87 (last month was $291.65)

These homes were built from 1906 to 2021

 

The highest-priced home sold was $7,850,000 in the Denver Metro and is in Cherry Hills Village.   This expansive home was built in 1940, on 2.69 acres with an 8-car garage.   This home has 5 bedrooms, 12 bathrooms, and 14,239 total finished square feet.  This home was on the market for only 229 days. 

 

There were no short sales sold, and no bank foreclosures sold this month.

Even many of our luxury homes are going pending and seeing multiple offers.

 

Looking for a home on acreage and private?    With mountain views?    Or would you like to see what homes are for sale over $1,000,000?   There are currently no bank-owned properties for sale and there are no short sales listed.

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 As we have frigid temperatures, I know many are looking forward to the weather warming and spending time outdoors.   Love this outdoor space?

 

Today, you will find 283 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000.   They have been on the market for an average of 128 days and these homes were built from 1870 to 2022.   This amount has decreased from last month.

 

There are 414 homes currently pending over $1,000,000 up to $7,600,000 with an average 78 days on market.    These homes were built from 1885 to 2021.    (This amount has increased from 268 last month.)

 

Here is how 2019 compared to 2020

Total Sales     2019 - 1,810                          2020 - 2,739

Days on Market      2019 - 61 days              2020 - 53 days

Average Price Sold   2019 - $1,300,000       2020 - 1,302,500

% Seller Saw to List    2019 - 97.65%             2020 - 97.06%

 

With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City.  

 

I have obtained my luxury marketing certification and has given me a multitude of new ideas.    If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.   

 

 

Feb. 17, 2021

Let's Talk - House Styles

What is a House Style?

Some buyers have definite ideas of what their dream home looks like.    Some styles in Denver are not like other cities across the Country, so let's break down the different home styles we have in the Denver metro area -

 

Ranch - this is a home where everything is on one floor, sometimes with no stairs.   There could be a basement, and the laundry room could be in the basement in older homes.    There could be steps to the front door, and possibly into the garage, so something to check out.

This is the most popular style of home to all ages of buyers and will be the most expensive per square foot.

 

 

Two-Story - this is a home where the "living areas" are on the main floor - living room/family room, kitchen and dining room will usually be on the main floor.  There could be a bedroom/office on the main floor.  On occasion you will find the master bedroom on the main floor, but there are few of these.   Usually all bedrooms and laundry(in newer homes) are located on the upper floor.  Some older homes the laundry room will be on the main floor or in the basement of older homes.

 

 

Bi-Level - this is a home where you walk in the door and immediately decide to go up or go down.  There is a small landing at the front door.   Usually the kitchen, dining room, living room and a couple bedrooms will be on the upper floor.   In the lower level there will be a family room and one or two more bedrooms.

 

 

Tri-Level - this is a home you enter the home on the main level, and will find the kitchen, dining room and usually a living room, then you have to go up a few stairs to the bedrooms, and go down a few stairs into a family room, and could be another bedroom.    This style could be "side by side" or "front to back" tri-level.   

 

 This home is side to side

This tri-level is front to back

 

Multi-level - this is a home that is a tri-level with a basement.    So same as above, but there will be a basement.  From the lower level of a tri-level, you will go down another small flight of stairs into the basement.

 

 

In any of these homes, the bedrooms may not all be on one floor, one or more may be in a lower level.

 

If you have any questions about any of these styles of homes, give me a call - Joan Cox - 720-231-6373.

 

 

 

 

 

 

Feb. 11, 2021

New Listing Alert - Beauvallon Condo - Denver CO 80203

 

New Listing Alert - 925 N. Lincoln St. #11G, Denver, CO  80203

Priced at $469,000

 

 

 

Must-see 11th floor condo in the Beauvallon building with amazing amenities including 24-hour security, concierge service, and pool/spa/garden/grill areas with views. Walkscore is 98! 


Features you will find -

~ Two bedrooms, two bathrooms 

~ 1,239 square feet

~ 1 reserved parking space in the heated, secured parking garage

~ 1 storage locker 

~ Built in 2001

 

The kitchen features a cooktop, vent hood, built-in oven, and a breakfast bar with room for seating.  The living and dining spaces are open and light with lots of windows. Access to the large, south-facing covered porch (with views) is next to the dining area. 



The master suite includes access to a separate covered porch, walk-in closet, and a large en-suite bathroom with tub/shower combo. The secondary bedroom and three-quarter bath are located on the opposite side of the unit. 

Storage areas include a closet/pantry in the foyer and the laundry/utility room. 

Call me for a showing! Laura Erwin (303) 353-8251 

 

Feb. 6, 2021

Town of Parker CO - Market Trends for January 2021

 

You will find this quaint town Southeast of Denver proper, and about 20 miles or 30 minutes.  It is easy to catch the light rail at Lincoln, if you work downtown, or somewhere along the line.    There are about 64,000 residents in the Town of Parker, and Main Street is a fun place to dine, listen to live music or enjoy the retail outlets.

 

If you are looking to buy a home in Parker, there is quite a variety of price points.   You can buy a condo or a multi-acre ranch outside the city limits, yet just a few minutes into town.  

 

Sales for January 2021

97 homes sold ranging from $318,500 to $2,020,000 (down from 160 sold last month)

Average days on market - 28 days (25 last month)

Average sales price was $585,000  (last month was $575,000)

Sellers saw 100.44% to list price  (last month was 100%)

These homes were built from 1967 to new builds (2021)

 

The highest sale was in Colorado Golf Club and sold for $2,020,000.  This home is on .63 acres, was built in 2008, has 5 bedrooms, 5 bathrooms, and a 4-car garage.    The home has 7,712 total square feet and was on the market for 66 days.

 

Looking for a home in Parker CO?    Check out this link for the current active listings - 

HOMES FOR SALE IN PARKER CO

 

Are you looking for a home on acreage?  The best price I found today in Parker, is a home in Livengood Hills on 1.91 acres, built 1970, has 6 beds, 4 baths and a 3-car garage listed for only $725,000!

  

 

 

 

If you would like to know more about the Town of Parker, please give me a call.  720-231-6373 

 

Feb. 3, 2021

No More Chirping of Smoke Alarms in the Middle of the Night

 

All these years, when I remind clients to change their clocks for Daylight Savings Time, another reminder was for everyone to change the batteries in their smoke alarms.   In the newer homes, this meant, A LOT of 9 volt batteries!   (now that they go in all bedrooms, hallways, etc.)

 

I had to buy a new one recently, and discovered Kidde has one now that has a longlife battery, and lasts for TEN YEARS.   No chirping at 2 am now!   

 

SO, if any of your smoke alarms are starting to turn a bit yellow, it could be time to change them out anyway.   This could be a good time to get these new ones, and never hear another chirping alarms for YEARS.

 

 

 

Posted in Homeownership Tips
Jan. 27, 2021

The Crazy Denver Home Sale Market

When you are in the market for a new home, you expect to have listings to see - right?   Right now, the Denver metro area is down around 50% over last year's active listings this same time!   

What is happening in the market?    With so few listings, it is tough to set showings at properties, as the showing windows are either 30-60 minutes.  On occasion you will see 15 minute windows, but that really makes it tough for buyers and buyer agents.    With COVID, there are no overlapping showings, and only the buyers on contract and agent are usually allowed in the home at one time.  All precautions are to be taken - masks, wipes, gloves, etc.

 

What is happening with the home values?  We are seeing 10-12% increases in home values.  With so much demand (low interest rates) many homes are seeing multiple offers, and offers WAY over list price.   And, some homes are priced higher than fair market value.     When you get offers way over list price, the buyers need to define what happens if/when the appraisal (if financing is needed) comes in low.    Buyers offer to make up the "gap" between the appraisal and contract price.   These monies are over what they need for down payment and closing costs.

 

The appraisers are being a bit more lenient with their values, knowing there are not enough listings and buyers are scrambling to secure a home.    But, they are still usually not able to turn in value for the contract price, and buyers are still on the hook for the difference between appraised value and contract price.  

The bank will not loan over appraised value, so that is why the "gap" needs to be defined in the contract.

 

We are seeing some creativity in this market - rather than having a contingent offer, buyers are securing hard-money loans that do not require appraisals, then refinancing into a regular loan after it closes.    (BUT, be sure you have enough cash to make up the difference you are offering on the new home.)   The interest rates for these loans are 12% and higher!   This could be a dangerous financial decision if you do not know what to expect, and have a good plan in place.

 

This scenario is not only in the lower price points, have seen this in the $million homes as well.   As I write this post, we have 2,427 active listings.    The population of the Denver metro area is almost 3 million, and this small number of listings is for single family, condos and townhomes.  (no land)   Back in 2008, when homes were not selling, we had at least 25,000 listings to give you an idea of how few listings we currently have.

 

Hopefully in the next few weeks we will see more homeowners put their homes on the market.   If my homeowner needs a replacement home, I always put in MLS, contingent on finding the replacement home, so my client is not homeless.   That is not a word I want to use in my vocabulary.

 

If you have thought about listing, give me a call!   I have experienced multiple offers (20) and guided my Sellers through many offers to accomplish their goal of selling! 

 

 

 

Jan. 24, 2021

Denver CO Market Trends - December 2020

 

The stats are out for the month of December, and it was a busy month!   As of the end of December, we are experiencing SERIOUS low inventory, down 50% over one year ago.  I think many Sellers are nervous about listing their homes while we are seeing the virus, and not knowing if they would be able to locate a replacement home! 

 

The following data is courtesy of Joan Cox - House to Home, Inc.

 

We are seeing homeowners pricing their homes higher than "fair market value", and also seeing offers WAY over list price and multiple offers.   Appraisers are trying to make it work, but it helps when buyers "make up the gap" between the purchase price and appraised value.

 

See what homes are currently available - Active Homes for sale in Denver

 

Buyers - If you have thought about buying a home this year - NOW IS THE TIME!   The interest rate is unbelievable - below 3%.  You can buy more home than you could just six months ago.  Be sure to be pre-approved and know what your budget is!

 

Sellers - My sellers are seeing a nice bottom line!    If you are thinking of selling but worried you won’t find a replacement home, I can enter into MLS the fact you require a contingency of a replacement home.    

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.

 

 

Jan. 12, 2021

How did the Luxury Market Fare in Denver for December 2020?

 

A Luxury Home can be identified differently in cities across the country, but in Denver, my Luxury blog posts will report on detached single-family homes listed in the Denver metro area for over $1 million.   Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle.  (however, we don't have much water)  Some are updated with products from around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

  

Here is how the luxury market fared for the month of December 2020

Total sales - 271 homes ranging from $1,000,000 to $9,450,000 (last month was 259 homes, 2019 was 129)

Average Days on Market - 49 days (last month was 55 days last month and 2019 was 79 days)

Average price per SF (Total) - $291.65 (last month was $282.93)

These homes were built from 1887 to 2020

 

The highest-priced home sold was $9,450,000 in the Denver Metro and is in Castle Pines Village.   This expansive home was built in 2002 and completely remodeled, on 5.02 acres with a 7-car garage.   This home has 5 bedrooms, 8 bathrooms, and 16,513 total finished square feet.  This home was on the market for only 6 days. 

 

There were no short sales sold, and no bank foreclosures sold this month.

 

I was predicting an interesting year of sales with the election in November but had no idea we would be facing this pandemic and affecting not only our real estate sales, but our entire economy.   Sales were very strong prior to COVID and definitely saw an early spring buying season.   For 8 weeks, there were no in-person showings, so after 5/8, this made all the difference.    Not many buyers wanted to buy a home sight unseen.   The stock market bouncing around a bit, leaving some buyers still on the fence for a purchase.  In June the luxury market starting seeing an abundance of closed properties.

  

Looking for a home on acreage and private?    With mountain views?    Or would you like to see what homes are for sale over $1,000,000?   There are currently no bank-owned properties for sale and there are no short sales listed.

Short Sale homes for sale

Contact me for bank-owned properties for sale

 


 Thinking warm today, and would a pool be something you are thinking about?   Not many homes have them, but you can find a few.  

 

Today, you will find 331 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000.   They have been on the market for an average of 142 days and these homes were built from 1870 to 2022.   This amount has decreased from last month.

 

There are 268 homes currently pending over $1,000,000 up to $8,950,000 with an average 105 days on market.    These homes were built from 1900 to 2021.    (This amount decreased from 311 last month.)

 

Here is how 2019 compared to 2020

Total Sales     2019 - 1,810                          2020 - 2,739

Days on Market      2019 - 61 days              2020 - 53 days

Average Price Sold   2019 - $1,300,000       2020 - 1,302,500

% Seller Saw to List    2019 - 97.65%             2020 - 97.06%

 

With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City.  

 

I have obtained my luxury marketing certification and has given me a multitude of new ideas.    If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.   

 

 

Jan. 9, 2021

Town of Parker CO - Market Trends for December 2020

 

You will find this quaint town Southeast of Denver proper, and about 20 miles or 30 minutes.  It is easy to catch the light rail at Lincoln, if you work downtown, or somewhere along the line.    There are about 64,000 residents in the Town of Parker, and Main Street is a fun place to dine, listen to live music or enjoy the retail outlets.

 

If you are looking to buy a home in Parker, there is quite a variety of price points.   You can buy a condo or a multi-acre ranch outside the city limits, yet just a few minutes into town.  

 

Sales for December 2020

160 homes sold ranging from $327,000 to $2,265,000 (down from 186 sold last month)

Average days on market - 25 days (same from 13 last month)

Average sales price was $575,000  (last month was $560,250)

Sellers saw 100% to list price

These homes were built from 1970 to new builds (2020)

 

The highest sale was in Colorado Golf Club and sold for $2,265,000.  This home is on 2.46 acres, was built in 2019 (was new), has 5 bedrooms, 6 bathrooms, and a 4-car garage.    The home has 8,962 total square feet and was on the market for 248 days.

 

Looking for a home in Parker CO?    Check out this link for the current active listings - 

HOMES FOR SALE IN PARKER CO

 

Are you looking for a home on acreage?  The best price I found today is a home in Hidden Village on 4.9 acres, built 1972, has 6 beds, 4 baths and a 3-car garage listed for only $780,000!

  

Want to know what a home looks like for $12,900,000?    This home was built in 2001, has 11 bedrooms, 24 bathrooms, and a TWENTY-NINE car garage!   There are 45,212 total square feet including out-buildings on 35 acres. 

 

 

 

Stats for all of 2020 -

Total Sales - 2,281 homes ranging from $248,000 to $2,890,000

    (2019 had 2139 home sales)

Days on Market - Averaged 28 days (2019 was 27 days)

Average price was $535,000 (2019 was $507,108)

Sellers saw 100% to list (2019 saw 100%)

 

 

If you would like to know more about the Town of Parker, please give me a call.  720-231-6373