October 2008 market reports are available to Metrolist members on MYmls.com > Market Intelligence. Use the Snapshot to get a quick overview of month-over-month and month versus year ago changes. If you blog, insert this snapshot into your posting as a graphic.
Mike Cox, RE/MAX Professionals, discussed October 2008 market activity for metro Denver home sales.
Video: Homes Sales Booming In Some Neighborhoods
POSTED: 2:25 am MDT October 28, 2008 UPDATED: 6:29 pm MDT October 28, 2008"
Lane Lyon, 7NEWS Reporter
DR Horton has a good product with competitive pricing," said Mike Rinner, a housing analyst at the Genesis Group in Arapahoe County.
Rinner said decisions by DR Horton to "tweak it's product" at The Conservatory is attracting buyers interested in homes under $300,000.
Independent Realtor Gary Bauer agreed.
"That's what's happening all over the Denver metroplex. If you have a home under $300,000 you'll sell it," Bauer said, and added new home buyers with a house to sell need to be prepared.
Resale homes currently average 100 days on the market, Bauer said.
Richmond American Homes and KB Homes round out the top three new home builders in Colorado.
A spokesman for KB Homes pointed to their community in the Stapleton neighborhood as one of Colorado's top selling communities.
Pricing for the Denver community, which were created with celebrity Martha Stewart, start at $319,995. The community opened in September of last year.
"We currently have more than 35 homeowners who will be moved in by the end of the year, and as of Aug. 2008, we have sold 43 homes," said Craig LeMessurier, Regional Director of Public Relations.
A spokesman for Denver-based MDC Holdings/Richmond American declined to comment for this story.
Like the national figures, analysts in Colorado observed a slight "uptick" in overall home sales locally in September.
Cory Hunsader, Regional Director with Hanley Wood, credited buyers with taking advantage of builder incentives -- including seller-funded down payment assistance with mortgages backed by the Federal Housing Administration, or FHA. The program ended Oct. 1 as part of the Housing and Economic Recovery Act of 2008, which President George W. Bush signed into law July 30.
A sales associate for Meritage Homes told 7NEWS Tuesday a new community in the Meridian area has also seen success since opening last month. "We have sold 14 homes," associate Karla Knapp said.
As for when Colorado's housing market might fully recover, Gary Bauer said the "usual suspects" are needed; affordable mortgages and consumer confidence.
Bauer believes after the November election, and into 2009, the answer might be more clear.
Until then, couples like David and Jeannie can't wait until their new home is completed just before Thanksgiving.
"I'll need 45 feet of garland!" Jeannie said of her plans for Christmas décor.
Copyright 2008 by TheDenverChannel.com. All rights reserved.
BrokerIPTV: Today we are talking with Megan Aller, account representative for Metrolist. Welcome to the show. Glad you are here.
Megan Aller: Thanks for having me.
BrokerIPTV: So, a while ago, we were talking we were talking with Kevin Best about this whole Instanet documents and PrimeAccess and that you can get contracts and forms all online right now with Metrolist. Tell me a little bit about that and tell me about how that's all going?
Megan Aller: The implementation with Instanet has been going really, really well. The adoption cycle has been increasing exponentially. One of the nice benefits with it is that you can upload your disclosures or supplemental documents to your listing, so they are viewable by other agents in PrimeAccess.
BrokerIPTV: That's what I am excited about because now my assistant doesn't have to say to me anymore, "Hey, would you like me to print your disclosures so you can take it over to the property." So, explain how I do. How do I get my disclosures on my MLS list?
Megan Aller: It is a very quick and simple process. All you have to do we are making a couple of assumptions that you have a listing in Metrolist and you have your copies electronically, from there, you will go into PrimeAccess and you will do either a listing number search or an address search to pull up your listing. From there, you go to the listing details page and you click on the Instanet icon. By clicking on that Instanet icon, it automatically logs you off of the MLS stopping your access fees and takes you into your direct Instanet account. From there, it takes you into the transaction overview page, you click on the documents link, upload your documents, select the ones that you want viewable in PrimeAccess and click the Go button and it's done.
View DemoBrokerIPTV: So, I am assuming that if you are a Realtor in Denver and have a listing on Metrolist, you also have an Instanet account?
Megan Aller: Absolutely. We have already automatically set up all of our agents, all of our customers in Metrolist to automatically have an Instanet account. There is no additional user name or password. It is already set up and ready to go for you.
BrokerIPTV: No additional fees?
Megan Aller: No additional fees. This is part of the $15 month membership fee that you have already been paying.
BrokerIPTV: Okay. I have got a buyer. How do they access the Instanet docs? I imagine one through their listing agent or through... or their agent or through me?
Megan Aller: Right. It has to be done through the agent. The buyer themselves doesn't have access to it, but you can see if their disclosures have been added to a listing. Again, in that listing details page under the common area, there is a field labeled Disclosures. If there are disclosures that are uploaded there, it will say "View Documents" and if there is nothing there, it will say "Learn More." From there, if the agent clicks on "Learn More" they can view some features and benefits of why they would want to upload their disclosures.
BrokerIPTV: And then the agent prints them off, hands them to the buyer, they sign, of course our side has already signed...
Megan Aller: Correct.
BrokerIPTV: And then they can what? Fax it back to me? They can e-mail them?
Megan Aller: They can either fax them to you, they can e-mail them to you. However, they need to get that information to you to submit their contract to buy and sell real estate.
BrokerIPTV: One of the neat things that you offer is you offer a fax back page with a barcode in it.
Megan Aller: Correct.
BrokerIPTV: And so when that agent prints off that cover sheet as well as the disclosures, if they fax, that's coming back to the Instanet account and getting e-mailed to me. Is that right?
Megan Aller: Absolutely. So, in addition to uploading your disclosures, you can upload additional information. I don't want you to limit it just to those disclosures. One really neat feature is that fax back cover sheet. There is a unique fax back cover sheet that has a bar code on there that automatically identifies which transaction this is associated with. By putting that fax back cover sheet out there with the disclosures, you can instruct agents that are ready to submit you an offer to print out that fax back cover sheet and submit is via fax to the appropriate number and from there it will be automatically loaded into your Instanet account for you.
BrokerIPTV: I got to believe that's going to become a popular feature. What other documents in Instanet are popular?
Megan Aller: Most commonly, well, you know what? I would recommend keeping two things in mind when you are uploading your disclosures. Is the buyer's agent going to need it in order to submit an offer and does it make my house look better than every other house on the block. Most commonly we are seeing the seller's property disclosure and the square footage addendum, but what if I just put a brand new roof on my house and it has a thirty year guarantee? I am going to scan in a copy of that warranty so that I can make it available to other agents looking in PrimeAccess.
BrokerIPTV: Okay. So, this is relatively new.
Megan Aller: This is relatively new
BrokerIPTV: So, do we have some people using it now?
Megan Aller: We do. The growth is growing day by day and we expect to see it grow more in the future.
BrokerIPTV: Good feedback?
Megan Aller: Really great feedback.
BrokerIPTV: If I am not a Metrolist member, can I get access to online docs?
Megan Aller: This is exclusively available to Metrolist members. If you would like us to sign you up, all you have to do is go to metrolist.com and get our contact information. We are happy to step you through, getting your Metrolist account set up.
BrokerIPTV: Megan, thanks so much. Look forward to it.
Megan Aller: Thank you.
Metrolist®, Colorado's MLS of ChoiceSM, Receives Recognition
Greg Zadel, 2008 President of the Colorado Association of Realtors® (CAR), announced his selections for his Presidential Distinguished Service Award.
Zadel made an unprecedented selection this year by acknowledging two Colorado MLS organizations. These entities entered into a remarkable arrangement to share data for real property listings along the Front Range. According to Zadel, "This was an important step toward achieving one of CAR's strategic initiatives, providing our members with greater access to listing information throughout the state."
Metrolist, Inc.® and IRES, LLC were presented with the Presidential Distinguished Service Award on Sunday, October 19 at the CAR Inaugural Dinner. This annual event was hosted at the Broadmoor Hotel, Colorado Springs.
"We are getting closer to providing complete listing data from a single source through the efforts of these two MLSs," stated Zadel. This is a statewide vision with growing interest from other MLSs. With the successes of this particular agreement, Zadel is confident that Colorado will achieve effective solutions to help Realtors® better serve home buyers and home sellers.
Metrolist Board of Directors and CEO/President
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