home prices Archives - DwellMileHigh

How Much Does One Percent Make

August 14, 2020 by dwellmilehigh

Mortgage Rates may be at an all-time low, but there’s still a big difference between a 3% and 4% rate. Your mortgage rate is the amount is the amount of interest charge by whomever you took a loan out with to buy the house.

A 1% difference in mortgage rate on a $200,000 home with a $160,000 mortgage increases your monthly payment by almost $100. Although the difference in monthly payment may not seem that extreme, the 1% higher rate means you’ll pay approximately $50,000 more in interest over the 30 year term of your Mortgage loan.

In short… Mortgage Rates Matter!!

May Market Minute

May 2, 2017 by dwellmilehigh

May, 2017

	Pending home sales were down slightly in March, a by product of continuing low inventory and high demand.
	The average sales price for April single family detached homes came to $471,145 and $312,320 for Condos and Town-homes. This is a study increase month over month since the beginning of the year. (Data provided from REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
	In my last issue I talked about the top 5 factors driving our hot housing market. Two of the reasons mentioned were people moving here and job growth. I happen to have a home for rent here in Englewood, CO and after renting this home since 2004 I have never had so many out of state applicants. Many of them flying in for the week to buy or rent in the short week they are here. Although not a representative sample, my everyday life seems to be evidence coinciding with the report I posted last month entitled “Is the Denver Real-estate Market in a Bubble?”.
	Last but maybe least on my list is a Spring Cleaning checklist. Items I will realistically never get to, but maybe you are more on top of spring cleaning then me! 🙂 Happy Winter (I mean Spring!)

Valuation notices May 1st.

April 26, 2017 by dwellmilehigh

The Arapahoe County Assessor’s Office will mail 2017 Notices of Valuations to residential and commercial property owners beginning May 1.

These notices of valuation provide you with information on the actual value of your property as of June 30, 2016. Arapahoe County also includes photos and information on five similar properties that sold in your area to provide more information about the valuation process and how the value was determined.

What happens if you disagree with the valuation? You can appeal and Arapahoe County strives to make the process as easy as possible. Appeals must be filed by June 1 to be considered.

To learn more about the valuation process and how you can appeal your value, visit: http://bit.ly/ACGNOVs.

Housing Market Minute

February 3, 2017 by dwellmilehigh

Housing Market Minute – Feb. 2, 2017

	The Fed met yesterday,as expected there was no rate increase for now. The Fed has said it expects to raise rates 3 times this year.

	The average sales price for January single family detached homes came to $425,054. and $284,788 for Condos and Townhomes. ( Data provided from REColorado for Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)

	We will be hosting an Open House this Sunday Feb. 5 from 11:30 – 3:30 4890 S. Inca St. Englewood Colorado for more details and pictures click here.

Housing Market Minute – Dec. 2, 2016

December 2, 2016 by dwellmilehigh

In the Denver Metro area the average sale price in November was $384,858 a 2% increase from October. This includes both single family attached and detached homes.
( Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
Regardless of increasing prices, pending home sales continued to rise in October. Demand remains strong and inventory remains tight across much of the nation.
Construction spending in October increased to a 7-month high, driven by the residential sector. Overall, combined spending was up 3.4% over the previous year.

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Housing Market Minute October 10, 2016

October 11, 2016October 10, 2016 by dwellmilehigh

CaseLogic forecasts housing prices will rise 5.3% by next August. The increase would see home prices hit a new peak in 2017.
In the Denver Metro area the average sale price in September was $375,314 this includes both single family attached and detached ( Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)
There was a slight rise in active inventory of 1.10% year over year (for the Denver metro area-single family and condos).

Housing Market Minute – Sept. 9, 2016

October 11, 2016September 9, 2016 by dwellmilehigh

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The strong labor market has home buyers feeling more secure than ever. More than 73% of those polled were not concerned with the possibility of losing their job.

In the Denver Metro area the average sale price in August was $377,551 this includes both single family attached and detached.

( Aurora, Northglenn, Westminster, Lakewood, Thornton, Arvada, Englewood, Edgewater, Centennial, Littleton, Bloomfield, Denver, Golden, Lone Tree)

The trend in new home construction is for more bedrooms. Homes with 3 or fewer bedrooms have decreased, while homes with 4 or 5 bedrooms have increased.

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Housing Market Minute – August 5, 2015

August 5, 2016 by dwellmilehigh

For week ending August 5, 2015

Construction spending on single-family homes was down slightly in June but up 4.8% over last year. June also saw increased spending on home improvements.

A new trend in kitchen design is to use mixed colors in cabinetry and countertops. A recent survey found 42% of remodelers used multiple colors.

Home price reports show nationwide prices up 5.7% year-over-year in June. Prices are expected to continue to increase at a healthy rate for the next year.

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