Real Estate Information

Aurora Colorado Sold Homes & Condos Report - April 2013

The Chart above provides a quick look at the market for the previous month. Analysis of sold properties for the last month reveals 285 sold, an average sold price of $228,162 and 42 days on the market.

Looking at the chart to the left, you might be wondering why average days on the market (DOM)  is important.

This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM) or a seller's market (indicated by a low DOM). Active listings (properties for sale) have been on the market for an average of 42 days.

It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy or seasonal changes.

There were 115 sales in the market overall. The average sold price was $117,894 with an average of 47 Days on the Market.

Download the Complete April Real Estate Report today.

WEEKLY JEFFERSON COUNTY CO REAL ESTATE REPORT

South Central Jefferson County Colorado Sold Homes & Condos Report - March 2013

The Chart above provides a quick look at the market for the previous month. Analysis of sold properties for the last month reveals 97 sold, an average sold price of $228,221 and 39 days on the market.

Looking at the chart to the left, you might be wondering why average days on the market (DOM)  is important.

This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM) or a seller's market (indicated by a low DOM). Active listings (properties for sale) have been on the market for an average of 39 days.

It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy or seasonal changes.

There were 38 sales in the market overall. The average sold price was $131,113 with an average of 36 Days on the Market.

Download the Complete March Real Estate Report today.

Home Equity Is Back! It's Small, But It's Here To Stay

Homeowners are lining up again to use their homes as ATMs and the line is slowly beginning to wind out the door and around the corner.

For the first time since 2009, households are withdrawing more cash from their home's equity than they are depositing, according to Capital Economics "Return of housing equity withdrawal here to stay."

And this isn't just a temporary phase, thanks to the housing recovery, the improving economy and growing incomes giving homeowners more impetus to take on some discretionary spending.

"Rather than being a temporary blip, we think that this marks the start of a sustained period of equity extraction," according to the report.

What is home equity?

A word of caution about home equity: when you use it you lose it.

Home equity is the difference between your mortgage balance and the value of your home.

When you buy a home with a down payment of, say 20 percent, you have a 20 percent equity stake in your home. Over time, mortgage payments and appreciation can give you a larger equity stake.

Likewise, depreciation, like that from the housing crash, can reduce your stake and leave you "underwater" with a mortgage that's larger than the value of your home.

When it's available, home equity can be a handy, liquid emergency fund, investment pot, nest egg for retirement or a way to get out of more expensive debt.

Most financial advisers suggest using home equity only for capital improvements that give you a return on your money that's greater then the cost to use it - a viable business start up, financing kids' college education, certain home improvements, etc.

According to Capital Economics' report:

Home equity withdrawal (HEW) turned positive in in the fourth quarter 2012, reaching $13.7 billion or 0.5 percent of disposable income. The finding came earlier than Capital Economics had forecast.

Capital's report concedes, other HEW measures show HEW may still be in negative territory. Either way, little, if any equity was injected into the housing sector by the end of 2012.

Previously, HEW briefly turned positive in 2009 before heading back into negative territory, but the current return to HEW appears more sustainable.

HEW today most commonly happens when homeowners move up, rather than take out home equity loans. Capital said HEW is closely correlated with the number of home sales through "turnover extraction" which happens when the a homeowner moves up and the new mortgage is larger than the previous mortgage, effectively resulting in HEW.

Rising home prices, growing confidence in the housing recovery, increasing incomes and a gradual loosening in mortgage credit conditions should continue to make home equity lending and cash-out refinancing - the other two main sources of equity withdrawal - even more common.

Don't expect a HEW boom. Home prices are still well off peak prices of the last boom. At the current pace of home price increases, boom-time prices remain years away. Losses inflicted during the housing crash wiped out 50 percent or more of home values in many areas.

What HEW has returned is a positive indicator for the housing recovery and the economy in general, given consumer spending increases with home equity gains and consumer spending fuels the economy. 

Written by Broderick Perkins

Wondering What Your Home Is Worth? -- Let me show you.

Download the Complete March Real Estate Report today.

Western Jefferson County Colorado Sold Homes & Condos Report - March 2013

The Chart above provides a quick look at the market for the previous month. Analysis of sold properties for the last month reveals 78 sold, an average sold price of $440,015 and 112 days on the market.

Looking at the chart to the left, you might be wondering why average days on the market (DOM)  is important.

This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM) or a seller's market (indicated by a low DOM). Active listings (properties for sale) have been on the market for an average of 112 days.

It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy or seasonal changes.

There were 6 sales in the market overall. The average sold price was $201,446 with an average of 28 Days on the Market.

Download the Complete March Real Estate Report today.

Rise of Smart Appliances Coming in 2013

A new smart home appliance survey recalls a plot in a machines-take-over movie, but the new technology can actually help save the planet as well as energy costs.

Maybe consumers do want stoves that talk.

It only sounds scary.

Late last year, the Consumer Electronics Association said when it comes to learning more about home automation, most households were more concerned about security issues, rather than gabby appliances telling them what to do.

More than half tech-savvy consumers told CEA they wanted to be remotely alerted to security problems and smoke detectors going off when they weren't at home.

They also said, at home and away, they wanted to be able to see who is at the front door and who enters or exits their home.

Terminating high utility costs

Apparently a similar number of households want to also juice up major appliances with smarts, according to Parks Associates, an international market research and consulting company specializing in emerging consumer technology products and services.

Park Associates said 44 percent of all U.S. broadband households would allow their power company to manage and monitor their home appliances to reduce energy consumption and save money.

They may just get their wish.

"Manufacturers are developing connected appliances to stay competitive in a mature market, where connectivity can differentiate products and add value through remote monitoring, enhanced functionality, and energy savings," said Tom Kerber, Director, Research, Home Controls and Energy, Parks Associates.

"Appliance manufacturers LG and Samsung have launched Wi-Fi-enabled appliances, and most major manufacturers are launching new connected products in 2013, which will continue to increase consumer awareness and strengthen the value proposition of connected appliances," Kerber added.

Manufacturers have already loaded appliances with sensors that do more than manage energy use; they also enhance control and convenience.

Smarter than consumers

For example, some washing machines "know" how much water to use for a given load of clothes. Clothes dryers shut down when they become "aware" the clothes are dry, even if the consumer has set the timer for a longer drying duration. Microwaves "sense" when a casserole has been zapped long enough.

Park Associates says households also want machines with smart troubleshooting features to help resolve appliance problems.

Perhaps, one day, they'll repair themselves.

The research and a recent energy summit, "The Role of Cloud-based Services and Connected Appliances in Energy Management," do however have an ominous "rise of the machines" ring to them.

Let's just hope this isn't the beginning of Skynet, the antagonist in the Terminator movie series - self-aware AI machines that ban together as war machines to replace humans.

But seriously, "The appeal of energy monitoring for appliances could be boosted by educating consumers about appliance energy consumption, which would ultimately provide more savings to consumers," Kerber said. 

Written by Broderick Perkins

Download the Complete March Real Estate Report today.

Central Jefferson County Colorado Sold Homes & Condos Report - March 2013

The Chart above provides a quick look at the market for the previous month. Analysis of sold properties for the last month reveals 72 sold, an average sold price of $250,313 and 56 days on the market.

Looking at the chart to the left, you might be wondering why average days on the market (DOM)  is important.

This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM) or a seller's market (indicated by a low DOM). Active listings (properties for sale) have been on the market for an average of 56 days.

It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy or seasonal changes.

There were 13 sales in the market overall. The average sold price was $96,969 with an average of 116 Days on the Market.

Download the Complete March Real Estate Report today.

Highlands Ranch & Lone Tree Sold Homes & Condos Report - March 2013

The Chart above provides a quick look at the market for the previous month. Analysis of sold properties for the last month reveals 195 sold, an average sold price of $374,411 and 43 days on the market.

Looking at the chart to the left, you might be wondering why average days on the market (DOM)  is important.

This is a useful measurement because it can help us to determine whether we are in a buyer's market (indicated by high DOM) or a seller's market (indicated by a low DOM). Active listings (properties for sale) have been on the market for an average of 43 days.

It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy or seasonal changes.

There were 35 sales in the market overall. The average sold price was $206,080 with an average of 114 Days on the Market.

Download the Complete March Real Estate Report today.

Patio Appeal May Add Value To Your Home

In some areas the real estate market is "hopping". New homes are being sold faster than they can be built and some new homeowners are purchasing great properties for a lower price than five years ago and with a very low interest rate. That's making today's buyers feel more secure about their investment.

Depending on where you live, a patio might not be the kind of thing you think about during the cold, and maybe snowy, winter months. But a patio is what many people enjoy on a sunny warm afternoon. It just feels good to sit outside and sip some iced tea or lemonade. That's the picture your real estate agent would want to capture when listing your home for sale.

Patios are appealing because they can create a sense of peace, open space, freedom, and they can seem to extend the square footage of livable space on those good weather days.

Set out on your patio some simple but comfortable patio furniture when you're listing your home and you might find that prospective buyers take a seat and think about your home. Good! Let them soak in the energy of the home. The way it feels. The way it allows them to relax. Set some brochures out on a side table. Maybe even a good book. You'd be surprised what these buyers pick up. If they enjoy themselves while sitting on your patio, you're likely to have piqued their interest in your property.

So, what if you have a backyard but no patio; is it worth investing in one? The answer depends on your financial situation but there's no doubt that having a patio or a deck - a space outdoors to relax - is a plus.

However, here are a few tips about creating that patio space. If you have a small backyard, you don't necessarily want to take up the entire space with a concrete patio. The reason? Greenery is also appealing. Basically, you want to have the patio proportionally sized to your yard. So you don't want to have a huge yard and tiny patio nor the opposite.

Your patio should be located close to an entryway to the home, typically the kitchen. This is so that if there is grilling or eating outside, people can easily access the kitchen as opposed to walking through some other room in the house first.

Patios also should be located in areas where there is some level of privacy. A patio is most appealing when you can sit back, relax and enjoy a good meal, book, or conversation without feeling like you're being watched. So the backyard is usually the best location.

Buyers often consider a well-built and maintained patio a plus and may create a higher selling price for your home.

To cover or not? Often when homeowners put in patios, they question if adding a covering would help increase the value of their home. That really depends on many things such as if the covering is well built and maintained and if it's aesthetically pleasing, not blocking views, etc. In the case where it's crafted and maintained well, the patio and its covering can increase the appeal of your home. That could translate to a higher selling price as well as a faster sale. 

Written by Phoebe Chongchua

Download the Complete March Real Estate Report today.