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Displaying blog entries 1-10 of 36

Colorado Gives Day

by Roberts Johnson and Rachel Diedrich, Real Estate B

Today is Colorado Gives Day!  www.GivingFirst.org

Hi, Roberts Johnson with Cool Denver Homes.

It’s the third annual Colorado Gives Day.  www.GivingFirst.org, Last year $12.8 million was raised on this one day for Colorado charities!  If you don’t live in Colorado, Give Where You Live!  I have been lucky enough to have a good year and am going to participate in Colorado Gives Day.  I ask that you dig a little into your pockets and give!  It is the time of year when we can sit back and be thankful with what we have and think about others.  Consider it a present with a future!

 Please give and give generously!

Feel the love!  Spread the love!  Share the love!

Let me know what questions you may have about buying or selling a home, loans and anything else that you may have questions about.

www.303home.com is your ticket to finding your dream home.

www.yourdenverhomevalue.com is the site that lets you find out how much your house is worth.

www.bankowneddenverhomes.com  lets you sign up for a daily list of all the bank owned homes in the Denver Area.

www.cooldenverhomes.com is the main website with all sorts of good information on it.

Thanks and happy holidays!

Roberts

Real Estate Agent Among Best Business Jobs

by Roberts Johnson and Rachel Diedrich, Real Estate B

Real Estate Agent Among Best Business Jobs

Real estate agents earned a place on U.S. News and World Report's recent compilation of the best business jobs, alongside such other professions as human resources specialists and meeting, convention, and event planners.

In addition to putting the customer first and other tips, insiders say that staying on top of business trends is critical for success. Often, according to Destin Real Estate Company owner Blake Morar, real estate agents allow emotion more than anything else guide their recommendations to home buyers and sellers, which he says is the wrong way to go about it, since evaluating housing markets is a huge part of the agent's responsibility.

Morar, whose firm is based in Santa Rosa Beach, Fla., suggests that would-be agents “become a student of the business,” learning as much as possible about the process before diving in head first. That advice is in line with what other professionals in other fields say about launching a successful business career, along with maximizing flexibility and looking proactively for a job opportunity that’s the right fit.

Source: “6 Booming Business Jobs,” U.S. News & World Report (April 19, 2012)

 

True Test For Real Estate This Spring

by Roberts Johnson and Rachel Diedrich, Real Estate B

This Spring Is True Test to Real Estate Recovery

How the real estate market will fare in the spring home-selling season will prove a test for housing demand and show which markets will lead a housing recovery, economists say in a recent article at USA Today. The spring selling season usually runs March through June.

"This spring will be the litmus real estate test for housing demand," says Steven Ricchiuto, chief economist for Mizuho Securities USA.

The sluggish housing market in recent years, which has seen a flood of foreclosures and falling home values, has been inching toward a turnaround in recent weeks. Existing-home sales and pending home sales are up about 9 percent compared to the same time year ago, according to February housing data by the National Association of REALTORS®.

Paul Dales of Capital Economics told USA Today that he expects the spring selling season to “be the best in four or five years” for the real estate industry.

Economists predict that where the housing supply of for-sale homes has dropped the most and is more balanced is where prices have the greatest potential of gaining this year. For example, Phoenix has had a 42 percent drop in its housing inventory recently and is projected to see prices gain 5 percent this year, according to Eric Fox, an economist for Veros Real Estate Solutions.

Source: “Spring Home Sales Could be Omen,” USA Today (April 2, 2012)

 

Year Ends Up!

by Roberts Johnson and Rachel Diedrich, Real Estate B

Stock market closes up 135 points on new-home deals and job growth prospects

Posted: 12/30/2011 01:00:00 AM MST
Updated: 12/30/2011 02:59:32 AM
MST
By Pallavi Gogoi
The Associated Press

 

NEW YORK — Better news on home sales and improved prospects for job growth sent stocks higher on Wall Street on Thursday.

The Dow Jones industrial average rose 136 points, nearly making up its 140-point loss from the day before. The Standard & Poor's 500 edged back into the black for 2011 with one more day of trading left in the year.

The four-week average of unemployment claims fell to a 3 1/2-year low, an indication that hiring could pick up. Also, the number of Americans who signed contracts to buy homes in November rose more than 7 percent to the highest level in a year and a half, according to the National Association of Realtors.

Quincy Krosby, Prudential Financial's market strategist, said the reports were encouraging signals for the economy going into 2012.

"The correlation between jobs and housing has been crystal-clear this year," Krosby said. "Parts of the country where jobs are more plentiful are the ones where the housing market has held up."

Krosby said the correlation has become more pronounced after the real-estate bust, when lenders became reluctant to even consider customers for a mortgage unless they held jobs. She said it's a noticeable trend in many cities nationwide.

The positive housing news sent the stocks of homebuilders sharply higher. Masco soared 8.4 percent, the most in the S&P 500. Pulte Group rose 6 percent, and Lennar gained 4.6 percent.

The Dow closed at 12,287.04, a gain of 135.63 points, or 1.1 percent. For the year, the Dow is up 709 points, or 6 percent.

The S&P 500 rose 13.38 points, or 1.1 percent, to 1,263.02. That's five points above where the index started the year.

The technology-heavy Nasdaq composite rose 23.76 points, or 0.9 percent, to 2,613.74. The index is down 39 points for the year.

Trading was very light as investors get ready to close the books on 2011. Markets are closed Monday in observance of New Year's Day, which falls on Sunday.

The euro went as low as $1.28 against the dollar, its weakest since September 2010. The euro also fell to its lowest against the Japanese yen in a decade.

Investors continued to be worried that Italy's 10-year borrowing rate remains uncomfortably close to 7 percent, a level that economists consider unsustainable. Greece, Ireland and Portugal all had to seek relief from their creditors after their 10-year bond yields rose above 7 percent.



Read more: Stock market closes up 135 points on new-home deals and job growth prospects - The Denver Post http://www.denverpost.com/business/ci_19642995#ixzz1iPN3m6JX
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse

 

House inventory drops while sales jump!

by Roberts Johnson and Rachel Diedrich, Real Estate B

Homes on market in metro Denver dropped in October as sales jumped

By Margaret Jackson
The Denver Post
Updated: 11/03/2011 01:12:16 AM MDT

(Hyoung Chang, The Denver Post)

The number of homes on the market plunged 27.7 percent in October compared with the same month a year ago, according to data released Wednesday.

There were 15,794 homes on the market last month, compared with 21,851 in October last year, according to an analysis of Metrolist data by real estate consultant Gary Bauer.

That's sparking concern that the number of transactions will drop sharply in November, December and January.

"The active-listing inventory is a new low for the year," Bauer said. "Existing home owners are taking a wait-and-see attitude and may not put their homes on the market until spring. If there's no inventory out there, why are you going to look?"

Meanwhile, the number of homes sold in October jumped 12 percent compared with the same month last year, according to the report.

Last month, 3,183 homes sold, compared with 2,842 sold during October last year, the report showed.

For the year to date, the number of homes sold remained flat, with a total of 33,163 sold this year compared with 33,128 last year.

Meanwhile, the median price for a single- family home showed a 1.8 percent year-over- year decline, from $230,250 last year to $226,021 last month.

Median condo prices increased 1.2 percent to $125,000, up from $123,500 in October 2010.

Margaret Jackson: 303-954-1473 or mjackson@denverpost.com



Read more: Homes on market in metro Denver dropped in October as sales jumped - The Denver Post http://www.denverpost.com/business/ci_19252044#ixzz1cmOWZPBU
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Homebuying season worst in 50 years!

by Roberts Johnson and Rachel Diedrich, Real Estate B
business

Homebuying season the worst in at least 50 years

By Derek Kravitz
The Associated Press
Updated: 09/27/2011 01:28:35 AM MDT

A prospective homebuyer leaves an open house in Phoenix on Sunday. Prices for previously occupied homes have sunk more than 5 percent over the past year. (Joshua Lott, Bloomberg News)

WASHINGTON — The homebuying season was a bust. Americans bought fewer new homes in the March- through-August stretch than in any other six-month period since record-keeping began a half-century ago.

And sales of previously occupied homes didn't fare much better. They nearly matched 2009's total for the peak buying months. And that was the worst since 1997.

Combined, total sales this spring and summer were the weakest on records dating to 1963. The figures underscore how badly the housing market is faring and suggest that a recovery is years away.

Because the economy is barely growing and unemployment exceeds 9 percent, many people see a home purchase as too big a risk. Some worry about losing their jobs. Others can't afford the 20 percent down payment.

Not even shrunken home prices and the lowest mortgage rates in six decades are convincing would-be buyers.

Falling stocks and renewed recession fears have led many economists to push back expectations for a housing recovery.



Read more: Homebuying season the worst in at least 50 years - The Denver Post http://www.denverpost.com/business/ci_18983414#ixzz1ZSZPf0Qg
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse

 

Mortgage News

by Roberts Johnson and Rachel Diedrich, Real Estate B
Fed bond-buying decision keeps mortgage rates at record lows
by KERRI PANCHUK
Thursday, September 22nd, 2011, 9:32 am

The Federal Reserve's plan to reinvest principal payments on some bonds into mortgage-backed securities is already contributing to the nation's record low mortgage interest rates, Bankrate said Thursday.

Bankrate said the Federal Open Market Committee seems to be taking direct aim at mortgage rates by shifting $400 billion from short-term holdings into long-term government bonds. The program, which begins Oct. 3 and runs through June, will involve longer-term Treasury securities with remaining maturities of six years to 30 years, and will be financed through the sale of shorter-term Treasurys with maturities of three years or less.

"This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative," the FOMC said in a statement following its two-day meeting.

Analysts also said anemic economic growth and European debt fears are keeping investors on the sidelines.

Rates are unlikely to increase until mortgage refinancing and purchasing activity picks up, Bankrate said.

"In order to get the most economic impact out of low mortgage rates, the pool of prospective refinancers needs to be expanded. Deeply upside-down homeowners, those with second liens or mortgage insurance, and lender concerns about buyback liability are all formidable impediments to refinancing," according to the firm, which aggregates rate data from across the country.

The Freddie Mac primary mortgage market survey showed the average rate for a 30-year, fixed-rate mortgage remained unchanged this week at 4.09%, while the 15-year, fixed rate dropped one basis point to a new record low of 3.29%.

Meanwhile, the five-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 3.02%, up from 2.99% last week and down from 3.54% a year ago.

The one-year, Treasury-indexed ARM averaged 2.82% this week, up from 2.81% a week earlier and down from 3.46% last year.

"A sluggish economy and investor concerns over the European debt markets left mortgage rates largely unchanged this week," said Frank Nothaft, vice president and chief economist for Freddie Mac.

"Manufacturing activity in both the New York and Philadelphia regions contracted in September," he said. "Moreover, the Federal Reserve board reported that households lost nearly $150 billion in net worth in the second quarter, representing the first quarterly decline in a year."

Bankrate data show the 30-year FRM at record lows for the fifth consecutive week. The average rate for a traditional mortgage fell to 4.29%, from 4.32% last week, while the 15-year FRM declined to 3.42% from 3.44%.

In addition, the 5/1 ARM decreased to 3.05% from 3.07% last week.

Write to Kerri Panchuk.

16th St Mall Makeover

by Roberts Johnson and Rachel Diedrich, Real Estate B

New remedies tried to improve traction, life of granite pavers on Denver's 16th Street Mall

Updated: 09/20/2011 11:43:15 AM MDT

New remedies tried to improve traction, life of granite pavers on Denver's 16th Street Mall

Updated: 09/20/2011 11:43:15 AM MDT

The view northwest along 16th Street Mall from Broadway and 16th Street, Monday, August 8, 2011. (Jakob M. Berr, The Denver Post)

RTD on Monday started a $1.8 million pilot project aimed at testing new techniques for cleaning and setting granite pavers on downtown Denver's 16th Street Mall busway.

As precursor to a remake of the entire length of the mall, which could cost $63 million, the Regional Transportation District is exploring ways to extend the life of pavers in the bus lanes, which get the most wear and tear.

RTD spends about $1 million a year repairing and resetting the bus-lane pavers, and the agency expects to integrate lessons learned from the pilot paver project with the broader rehabilitation.

The downtown pedestrian and transit mall opened in 1982, and its 400,000 white, black and red granite pavers were installed in a fashion to give it the appearance of a Western diamondback rattlesnake's skin when viewed from above.

RTD's partners on the wider mall project include the city of Denver, the Downtown Denver Partnership and the downtown Business Improvement District.

RTD's pilot program involves cleaning and resetting bus-lane pavers in the block between Court Place and Tremont Place and cleaning a portion of the pavers on the same block's sidewalks, said Jeff Cluphf, the transit agency's construction manager for the project.

According to J.J. Henrikson, the project's design manager, RTD's key goals include:

• Improving the "friction" of pavers to give pedestrians and vehicles better traction.

• Returning the pavers to their original color.

• Improving the stability of the transit way.

RTD's contractors will explore two techniques — "shot blasting" and "flaming" — to take a thin layer off the existing pavers and leave them with a roughened surface to provide more friction, Cluphf said.

For resetting the pavers, contractors will use several kinds of mortar and roughen the bottom of the stones to get better adhesion, he added. The agency also will experiment with two grouting techniques.

RTD is paying about $1 million of the cost of the pilot program, and the Denver Regional Council of Governments is contributing about $800,000 to the project's cost, Cluphf said.

The pilot program is scheduled for completion by late November.

One lane of the Court-Tremont block will alternately be closed for reconstruction of the bus-lane pavers, and some delays in mall-shuttle service are possible because of the construction bottleneck.

While work is being done, Denver will explore the electric lines that run under the roadway, and the Business Improvement District will lead an effort to upgrade one of the globe streetlights for better illumination and energy efficiency, said Cassie Milestone, the Downtown Partnership's urban planning manager.

RTD is seeking federal funds for the full rehabilitation of the mall, Milestone said.

Jeffrey Leib: 303-954-1645 or jleib@denverpost.com



 

 

Home sales up!

by Roberts Johnson and Rachel Diedrich, Real Estate B

Home sales jump 7.7 pct. as foreclosures rise

By DEREK KRAVITZ AP Real Estate Writer
Updated: 09/21/2011 08:04:35 AM MDT

 
WASHINGTON—The number of Americans who bought previously occupied homes rose in August. But sales were driven by an increase in foreclosures, evidence the housing market remains weak.

The National Association of Realtors says home sales rose 7.7 percent last month to a seasonally adjusted annual rate of 5.03 million homes. That's below the 6 million that economists say is consistent with a healthy housing market.

Last month's pace was slightly ahead of the 4.91 million sold in 2010, the weakest sales year in 13 years.

Home at risk of foreclosure made up 31 percent of sales, up from 29 percent in July.

First-time homebuyers were unchanged at 32 percent of all sales. The normally make up 50 percent of sales in healthy markets.
 

 

Colorado Foreclosures Down

by Roberts Johnson and Rachel Diedrich, Real Estate B
business

Colorado metro foreclosure filings, sales down so far this year

Updated: 09/16/2011 02:52:08 AM MDT

(Associated Press file photo)

Foreclosure filings and sales in Colorado's metropolitan counties were down during the first eight months of this year compared with the same period of 2010, the Colorado Division of Housing said Thursday.

August was the ninth consecutive month in which both filings and sales were down when compared with the same month a year ago, said Ryan McMaken, an economist for the division.

Foreclosure filings from January through August fell 31.4 percent, to 16,481 filings, compared with 24,032 filings during the same period last year.

Foreclosure sales at auction were down 18.5 percent during the same eight-month period.

There were 11,502 sales at auction from January through August of this year, compared with 14,114 during the same period last year.

However, from July to August of 2011, foreclosure filings increased 34.2 percent and sales at auction rose 32 percent. Foreclosure filings hit a six-month high in August, while foreclosure sales at auction reached a two-month high.

"This sizable increase from July may signal that some lenders are beginning to process foreclosures more quickly, or it could be due to the increase in new mortgage delinquencies reported during the second quarter," McMaken said.

He said all metro counties showed decreases in foreclosure filings and sales in the year-to-year comparisons.

Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com



Read more: Colorado metro foreclosure filings, sales down so far this year - The Denver Post http://www.denverpost.com/business/ci_18905989#ixzz1YRD9WGTL
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Displaying blog entries 1-10 of 36

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Roberts (Bobby) Johnson
Cool Denver Homes, Inc.
2314 Curtis Street
Denver CO 80205
Roberts Cell: (303) 525-7599
Fax: (303)9635335

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