Denver Metro Area

March 2020 Market Update

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Good News!  Buying your next home just got cheaper!!???  Investors are looking for safety with the news of the corona virus and have fled for safer ground  of treasury bills.  The result a sharp improvement for mortgage rates!!. 

Rates are in the 3% rate…With that being said here is my Denver Metro area market update. In the last 30 days there have been 2,229 new homes listed for sale and just over 1,934 home sales in the Denver Metro area. So not many people listing we are back down to  1 months of inventory available.  The average time homes are currently taking to sell here in the Metro Area is 32 days.  The average sales price is currently $457,896 average for both attached and single family homes.  

I have successfully helped families accomplish their real-estate goals here in the Denver Metro area.  The only way I have been able to accomplish and achieve this level of success is by providing world class service and always putting clients’ needs first. If you are considering selling your home or just curious about your home’s value contact me at 303-762-9848.

Condo construction can start again now

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CondoOn Monday the Colorado Supreme Court did what our state legislators couldn’t do as the Supreme Court voted 5-2 to affirm the Colorado Court of Appeals ruling “that developers can retain a right to consent to any HOA’s proposed amendments on contracted declaration regarding arbitration for construction-defects claims,” per the Denver Business Journal.

The case involved was Vallagio at Inverness Residential Condo Association v. Metro Homes Inc in which the condo association voted to change the developers By-Laws that then allowed the condo association to sue for construction defects instead of using binding arbitration that the By-Laws from the builder required. The condo association believed that the Colorado Consumer Protection Act provided them with the right to vote to switch from binding arbitration to litigation. The Colorado Supreme Court rejected this argument.

Thus, if the builder/developer requires that construction defects claims be settled by binding arbitration in the future that is how construction defects claims will be settled.
So every smart builder/developer will write into their By-laws that binding arbitration is how construction defects claims will be settled going forward, which is GREAT NEWS! Builders now have the legal protection they need to start building condos again
Author: Lonnie Glessner

Housing Market Minute October 10, 2016

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Housing Market Min

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  • 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).