Henderson, CO

A Great Dunes Park Community Feature - the Pool!

The Dunes Park Real Estate Statistics are looking encouraging. With mortgage rates at a historic low, home buyers are shopping, and they are buying in Dunes Park.

Over the past 12 months, there have been 17 homes sold:

• There were 4 non-distressed sales (not bank owned or short sale). The average price of these was $193,438, or $98 per square foot. Average Days on Market was 15.
• There were 4 short sales. Average price for short sales was $176,903, or $92 per square foot. Average Days on Market for short sales was 172.
• There were 9 bank owned or HUD owned sales. Average sold price for these was $167,888, $86 per square foot. Average Days on Market was 47.

What this means is that home buyers will pay the most for clean, well-maintained homes. They are also jumping at the homes that don't have the added stress of being a short sale.

Buyers are also jumping on the "bargain" bank owned and HUD properties. These can come with the added responsibility of purchasing appliances, re-doing floors and walls or rebuilding decks, but with time and sweat equity will likely pay off on resale.

Wondering what the most likely sales price would be for your Dunes Park home? Want to view available homes in Dunes Park? Call me today: 720-341-5235

The stats for the last week of January/first week of February 2012 are encouraging. After a strong 4th quarter 2011, it is good to see our real estate market remaining steady.

There are 4 currently available extisting homes for sale:

• 9443 E 108th Ave. 3 Bedroom, 2 Bath, 1 Car Garage. 1392 square feet. $145,000. HUD.
• 10682 Dayton Way. 3 Bedroom, 2 Bath, 1 Car Garage. 1464 square feet. Finished basement. $152,000. Short sale.
• 9219 Longs Peak. 3 Bedroom, 3 Bath, 2 Car Garage, plus 1 space carport. 2447 square feet. Finished Carriage House apartment. $209,900. Bank Owned.
• 9281 E 107th Place. 5 Bedroom, 5 Bath, 2 Car Garage, plus 1 space carport. 2779 square feet. Finished Carriage House apartment. Finished basement. $239,900.

There are 3 homes Under Contract. There are 2 more homes Pending Contract. "Pending" is used when the buyer and seller have agreed, but they are awaiting bank approval.

Want to see available homes in Belle Creek? Call me today - the Belle Creek market has accelerated, and great homes are selling fast! 720-341-5235

4th Quarter was a definite shot in the arm for the Belle Creek real estate market. While 3rd Q saw only 3 closed sales - all Oakwood Homes - 4th Q saw double that amount. Of the 6 homes sold, only one was an Oakwood Home. There were 5 existing homes sold in 4Q!

Inventory remains at an incredible low. As of January, there are only 3 homes available for move in, and another 4 are under contract. Two of the available homes are bank owned, and are extremely well priced. Oakwood continues to sell lots for dirt-start homes and currently has several lots reserved or in some stage of construction.

The Breakdown: Of the 5 closed sales in 4Q, only one was bank owned. In 2010, there were 7 sales in 4Q, and 5 were bank owned or short sale. It is good to see distressed inventory clearing out, although there is still distressed inventory that has not yet come to market. We will continue to see bank owned properties come on the market, but we are also seeing a return to traditional sales.

Sold prices for cottage style homes (those under 1600 square feet) built by New Town are heading in a much better direction than they had been for the past couple of years. In 2010, cottage style homes were selling for a depressing average net of $98 per square foot after 152 Days on Market.

In 2011, cottage style homes sold for a net price of $106 per square foot after an average of only 18 Days on Market!

Even larger homes saw an encouraging increase over 2010. In 2010, homes above 1800 square feet saw a sold price per square foot of $96 after an average 268 days. In 2011, New Town inventory sold for $107/Sqft after 35 days on market, and Oakwood inventory sold for $121/sqft after 215 days.

The Bottom Line: Belle Creek is seeing the signs of life we have been waiting for. Expect to see further gains in pricing in the near future. People want to live in Belle Creek. And clean, well-maintained homes have been fetching the highest prices.

Remember that every situation is unique in this regard. Be sure to consult with a REALTOR who specializes in the neighborhood when you consider selling - call me at 720-341-5235!

Sold prices for Belle Creek homes are increasing.

It has been a few years since Belle Creek residents have seen a marked increase in home prices. The time frame between October 1, 2010 and December 1, 2010 saw 5 closed home sales, which was the same number of homes sold in Belle Creek from October 1, 2011 to December 1, 2011.

The major difference, however, is in the price and days on market.

In 2010, the average number of days on market was a depressing 199 for the 5 closed home sales. This is in part due to the state of the larger housing economy. Distressed homes accounted for fully 100% - yes, all 5 - of the home sales in Belle Creek for this period last year. The average sold price came in at $168,940, or $97 per square foot.

In 2011, only 1 in 5 of the homes sold was in a distressed situation. Despite this, the average days on market for all 5 of the homes was a respectable 60 days. Do the math: last year, homes took nearly 7 months to sell, this year, they are closing in 2 months.

Even more encouraging, the average sold price came in at $184,040 for 2011, or $111 per square foot. This is especially good considering that only one of the closed sales among this data was a newly built home.

When the Oakwood homes data is removed from the equation, the days on market drops to 22 days! Average sold price for the existing homes was $172,800, or $108 per square foot. All of the cottage style homes sold were "regular" sales.

The bottom line is: people want to live in Belle Creek! As of today, there are only 3 available homes ready for move in.

Have you been waiting to sell your Belle Creek home? Now might be a perfect time to do so. Call Jennifer Prestwich at 720-341-5235 for a customized market report!

The market data in Belle Creek has taken a decided turn for the better.

This Belle Creek home went under contract in 2 days!

At the end of 3Q, we saw 1 closed home sale for the month of September. This would seem to be a natural decline in Belle Creek home sales, especially when compared to September 2010's 2 closed home sales.

Fast forward to Belle Creek home sales activity for October and November, 2011. Belle Creek saw 4 existing homes sold and 1 newly built home sale closed.

This number is steady when compared to 2010's October and November data, but month-over-month, it blows September's activity out of the water.

The difference, however is in the pricing and the amount of time spent on market. In my next post, I will address these numbers and how they relate to the larger Belle Creek market.