Bob Schenkenberger - Denver Real Estate

Here are current mortgage rates for the Denver Metropolitan area. These rates change constantly, so they are subject to change. I will post new rate information if these figures increase, or decrease dramatically.

Conventional 30 year fixed: 5.875%

FHA 30 year fixed: 5.875%

VA 30 year fixed: 5.875%

5 year interest only ARM: 5.375%

Jumbo 5/1 ARM 5.5%

You'll notice the market is not wanting to play on adjustable rate mortgages, and they are making sure to get a premium for the Jumbo loan programs. But the market is loosening up a bit for this type of money.

If you have any questions about mortgages, or how to lock in a rate, please contact us at any time.

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This is part 2 in a series being written by my Buyer's Agent Mike Whalen, ABR. He is documenting his experience throughout the Homebuying Process and the practical lesson's learned from the other side of the fence!

When emotions are involved, it is a whole different ballgame. This post makes some great points that, as professionals, we should be conveying to our clients.

http://bloghomedenver.com/2008/05/13/denver-agent-buying-home/

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When it comes to investing in Real Estate, no one wants the cash flow pimp of an empty unit! Cash flow is king, and if the market is saturated with available units, it means the owner/investor will have to eat a monthly payment, or reduce the rent charged to gain a tenant. Both of these options kill cash flow!

The Denver Real Estate market keeps getting stronger for investors! Great value on the buy side, low vacancy rates, and HUGE upside in a 3-5 year period.

Click here to read our full post on newest numbers on Vacancy Rates in the Denver area.

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Here are some recently compiled market stats for April 2008. My market area is the South Metro Denver cities, including Denver, Centennial, Greenwood Village, Cherry Hills Village, Englewood, Aurora, Littleton, and Highlands Ranch.

Big Picture (Covering the Entire Metro Denver Area) The figures are for single family residential properties only, and do NOT include Condos, Land or Commercial data.

Total Closings for the Month: 3,353, Down 3.4% from 2007, Up 12% from previous month.

Average Days on Market: 103, Down 4.6% from 2007, Down 5.5% from previous month.

Active Listings: 20,477, Down 2.1% from 2007, Up 3% from previous month.

Average Sold Price: $267,259, Down 17.1% from 2007, Down 2.7% from previous month.

Absorbtion Rate: 5.8 Months, Down 10.8% from previous month.

South Suburban Central & South Suburban East MLS Market Areas (This data covers the majority of Greenwood Village, Cherry Hills Village, Englewood, Littleton, Centennial, south Aurora, and un-incorporated Arapahoe County.)

Total Closings for the Month: 211, Down 12% from 2007, Up 40% from previous month.

Average Days on Market: 109, Up 3.2% from 2007, Up 12% from previous month.

Active Listings: 1313, Up 5.2% from 2007, Up 23% from previous month.

Average Sold Price: $443,160, Down 15.1% from 2007, Up 6.5% from previous month.

Absorbtion Rate: 6.7 months, Down 5.2% from previous month.

The biggest take away from this data is the fact that the marketplace is absorbing properties quicker and quicker. The 6 month absorbtion rate is historically the line in the sand between buyer’s and seller’s markets. Anything less than 6 Months, is perceived to be a Seller’s market and anything greater than 6 Months favors the Buyer’s. Prices continue to be down year over year, but that was expected as we have all lived through this market decline.

All in all it is pretty much what I expected, and it continues to indicate the market conditions are improving.

Click Here to download the full report in .pdf format. April 2008 Market Stats

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Denver is one of the most Dog Friendly cities on earth! With over 300 days of sunshine per year, and a population that has a penchant for the outdoors, it only makes sense that it’s also a great place for Man’s Best Friend. Her is a list of Denver Metro Area Bark Parks. Places you can take your dog, off-leash, and let the mutt’s get after it.

Click here for a list of Denver Metro Area Bark Parks.

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