Although we have all rode the stock market roller coaster as of late, we don't believe the sky is falling and the world will soon come to an end.  We believe that the markets are exhibiting fear-based, short-term reactions to what may or may not happen in the European sovereign debt challenges and softer-than-hoped economic data in the U.S.  In light of the recent economic turmoil, please remember the following:
- Corporate profits still remain strong.
- Historically speaking, we are still in a low inflation environment (at least for the time being).
- Interest rates are still low – the 10 year treasury is near 2%.
- U.S. banks appear to be far better capitalized today than in 2008.
- It seems we have an extremely accommodative FED.

We always do our best to keep our fingers on the pulse of the Denver real estate market as it relates to the greater U.S. market. The consensus among our agents and most local real estate professionals right now is that the market is very balanced, with little advantage to buyers or sellers. Since we only work with a subset of buyers and sellers in the greater market on a day-to-day basis, it is always important to analyze the local market data to see if our perception is in line with current market activity.

One major statistic that stands out and supports our position is the active inventory of available properties which remains 25% lower than last year.  Basic supply and demand suggest that prices will remain stable as buyers are often faced with paying market value to get what they want in a home. They simply have 25% fewer homes and condos to choose from with nearly 4,400 fewer properties on the market compared to last year.  Activity also suggests that lower inventories will continue as under contract properties have increased 12% from last year.  Further, 18% more homes and condos sold in July 2011 than July 2010. With inventory levels remaining low and activity strong overall, it is no wonder that pricing remains stable year-over-year.

Denver is one of the few markets where pricing remains level over the last 12 months with the average property neither gaining nor losing value. Buyer activity is driven in part by historically low interest rates (we have clients locking 30 year loans under the 4% mark!) and an unemployment rate in Colorado that had dropped two consecutive months to a current 8.6% rate which is lower than many other states.  Foreclosure filings in the greater Denver area are also down 30% compared to the same time last year which bolsters the real estate market as well.

Given these statistics for the balance/strength of the Denver real estate market, why is it advantageous for buyers you might ask? A balanced and stable market gives buyers the assurance that their investment is likely to be an appreciating asset. There has been more wealth created in the United States through real estate investments than through any other form of commerce. Investors across the nation are becoming increasingly interested in the Denver market as it is a stable market where real estate values have faired well throughout the "recession." As investor dollars flow into the Denver real estate market, especially as the savvy ones continue to snap up rental properties, it is further confirmation that now may be the time to get off the fence as a buyer.  You can purchase a home while it is still affordable and at an interest rate rarely seen in a lifetime.   At the end of the day, buying real estate is still better than renting real estate in 74% of U.S. cities, according to Inman News.

As always, we are up-to-date on the latest market happenings.  Please don't hesitate to contact us whenever you or someone you know is considering buying or selling a home, condo or loft in Denver!

Summer is winding down and the kids are back to school. There's still many fun events for the end of summer that you're not going to want to miss! For all you football fans, it's finally football season! The Broncos start the season off officially with a home Monday Night Football game on the 12th against long-time rival The Oakland Raiders. The schedule also includes a home game on the 19th versus the Cincinnati Bengals. Concerts for the month include the Zac Brown Band at Red Rocks, Taylor Swift at The Pepsi Center on the 27th and Phish at Dick's Sporting Goods Park on the 2nd. The Colorado State Fair starts Aug 25th and goes through Sept 5th in Pueblo. If you're looking for a local fair, the Taste of Colorado starts on the 2nd and ends on the 5th at Civic Center Park. Elitch Gardens will be doing Labor Day fireworks on the 4th. The always fun Denver Oktoberfest is Sept 16th – 18th and 23rd – 25th downtown at 20th and Larimer. The Great American Beer Festival starts on the 29th and goes through the 1st of October, but if you don't have your tickets already, you're going to have to do some searching as this event is sold out! And for the 10 year anniversary of the 9/11 attacks, Governor John Hickenlooper and Mayor Michael Hancock, in partnership with The Counterterrorism Education Learning Lab and others are hosting a commemorative event and concert to honor victims, first responders, and members of the U.S. Armed Forces on September 11, 2011, at Civic Center Park. This event features The Beach Boys.

September’s fun-filled events are a prime example of the common happenings in Denver.  Find a Denver loft or condo for sale to put you in the perfect location!

All of us at New Era have shared the praise our clients have for the wonderful Downtown Denver condo lifestyle.   It’s simply one of the best cities to live in anywhere and a recent article announced it’s also one of the best cities to invest in.

Downtown Denver living offers incredible weather, hundreds of amazing restaurants, a growing and nationally admired transit system, and of course a walkable environment filled with sporting arenas, entertainment venues, bike paths, pedestrian bridges and more.

Whew.. that’s a lot just to name a few.

All the things that make it highly desirable for individuals to buy and Downtown Denver lofts and condos for living also makes it a top pick for renters.

That is just one reason Wealth Creator Expert Jason Hartman recommends Denver in the article “Wealth Creation Expert Jason Hartman Recommends Denver as a “Top Spot” for Buying Income Property in 2011.

Here is a quote from the article sharing Jason’s views on our Denver market…

“A historically stable real estate market for both owners and investors, Denver represents a 13.1% return on investment in 2011”

The article shares a number of views on our local Downtown Denver condo and loft economy. From the ROI to the prediction of Cash Flows this Wealth Creation Expert seems to think Denver is the jewel of the Investment Property Crown.

We agree that Denver has amazing opportunities.  And while we are glad to see the high marks for our Denver’s financial building blocks one of the most important elements is that the Denver lifestyle is simply a good one.

Whether you are interested in finding a Downtown Denver condo or loft for your primary or secondary residence or as an investment opportunity please feel free to contact any of us on the New Era Team.

And thank you Jason for sharing the information on our great Denver marketplace.

Buying Downtown Denver Condos or Lofts just got a helping hand in the form of even lower interest rates.  CNN Money’s Article “Mortgages rates keep falling: 30-year nears record low” released earlier this month reported on the new trend offering the lowest interest rates seen in 3 decades.

What does that mean for the Downtown Denver condo owner… here’s what they shared.

“The savings for borrowers who lock in rock-bottom rates over the length of a mortgage loan can be sizable. Take, for example, a borrower with a $200,000, 30-year loan. If their mortgage carries a 4.32% rate their monthly payment is just $992 and they make total interest payments of $157,153. However, if the rate on their 30-year fixed mortgage is 5% (ordinarily considered a low rate), they'd pay $1,074 a month and $29,357 more in interest over the 30-year period.”

And for our clients looking for Downtown Denver lofts and condos this couldn’t be better news.  The current Downtown Denver neighborhoods are all seeing some incredible opportunities for value priced homes, condos, and lofts.

All of this combines to make buying more attractive than renting.  While interest rates have dropped the rental occupancy rates have increased and the rental market seems to be increasing. That’s great news if you are an investment property owner and many of our clients are currently looking for investment property opportunities.  But many renters are finding their rental rates increasing or finding that there is a feeding frenzy to secure a nicer rental Denver condo or home.

Of course buying a home is a personal decision.  For those who are pursuing the dream of owning their own Downtown Denver loft or condo and who have a good credit and employment history the rates could not be more attractive.

If you are interested in learning more about the Downtown Denver condo market or questions about learning your qualifications for these amazing rates for please contact any of us at New Era Realty.

Downtown Denver condo and Downtown Denver loft options are amazing.  Our great city offers everything from high rise living in the Glass House to historic Denver Square homes in the Highland / Lohi neighborhood.

And each neighborhood is unique but one neighborhood stands out within the Downtown Denver condo market due not only to it’s great location but also because of it’s unique opportunity as a larger planned community.

The neighborhood of Riverfront Park in Downtown Denver nestled between the new Union Station Neighborhood and the fast growing LoHi area covers a huge area stretching from the Cherry Creek trail by 15^th over to 20^th.

You know the spot… It’s the home of Zengo, Commons Park, the Railyard Dog Park and some of the most highly desired Downtown Denver condo buildings including the Glass House, ONE Riverfront, Riverfront Tower, Park Place Lofts and the Promenade Lofts.

While each building has it’s own individual HOA there is also a master association for Riverfront Park that offers residents some amazing advantages.

When people put down a wish list for Downtown Denver living it often includes beauty, access to activities, and safety.  That is why Riverfront Park planned in design for the master HOA to provide a team that works daily planting and maintaining the common area planters, the artistic Riverfront Park plaza area, and the streetscape.

The HOA even thought to hire off duty Denver police officers to patrol the Riverfront Park area.  Their most common infraction may be asking folks not to skateboard on the plaza but their activities there ensure the area offers perhaps one of the greatest often unnoticed benefits for Downtown Denver condo and Downtown Denver loft residents here.

To learn more about Riverfront Park condos, please contact any of us at New Era Realty.

Cheers!

The new Denver Union Station project is on the move in more ways than one.  This new Downtown Denver condo and Downtown Denver loft neighborhood where we have been watching the construction advance yesterday opened the new Union Station Light rail station.

If you don’t ride the 16^th street shuttle you might not notice but this change opened up some of the new Denver Union Station streetscape for us to check out.  It’s pretty cool.

Located just over the bridge from the great Downtown Denver Riverfront Park condo neighborhood, the Denver Union Station Neighborhood is planned to have not only a hub for transportation, but also the new Denver hub of restaurants, shops, and other Downtown Denver condo living amenities.

For the folks in Riverfront Park the location just got better.  Residents in the Glass House condo or any of the other Riverfront Park condo locations will be just footsteps from this great new neighborhood development.

But that’s not all that was on the move.

Yesterday, East West Partners (the developer of Riverfront Park) announced a joint venture with Starwood Capital to develop the Denver Central Business District.  The article which appeared on Reuters shared…

“East West Partners has contributed select assets it owns in Denver including a number of undeveloped sites in the Union Station neighborhood.”

It also identified that the JV would be looking at other Denver Business District Development options.  The one thing Developers are looking for in today’s market is funding and this just might be the kick start to some new residential projects in the new Union Station Neighborhood, as well as more LoDo loft and condo construction.

We will keep you posted.  To learn more about the great Downtown Denver condo and loft opportunities in Riverfront Park or around Denver please contact any of us at New Era Realty.

At a national level, discussions of a “double dip” recession and accordingly, another setback in home values, certainly have many consumers wondering what the future brings. Add the ongoing debate on how to handle the nation’s debt ceiling and the impacts any remedy will have on the U.S. economy and the worldwide economy, and I often ask myself, “When will it end?” Of course the media is full of bad news these days; that’s what makes ratings! Warm, fuzzy stories about the American family making ends meet, with husbands, wives and partners working well-paying jobs and families affording their “dream” home simply don’t warrant the media’s attention, right? At the end of the day, I believe there are far more of my clients in this latter category than the former and I would love the media to report your stories. And for those of you who are struggling right now, you too will survive these challenging times!

As I have said before, we are fortunate to call Denver home. Looking at the housing statistics for June, the local market continues humming along at a steady pace. Sales were up slightly (approximately 1%) in June 2011 compared to June 2010 and up over 9% from May 2011. Obviously there are some seasonal trends to consider here and usually we see an increase in sales as summer gets into full swing. The interesting number to consider, however, is the lack of new inventory of homes and condos coming on the market. With 20% fewer properties to choose from compared to the same time last year, many buyers are feeling the pinch in the local housing market and are having difficulty finding a suitable home! Combine this statistic with a 20% increase in the number of under contract properties (4,761) compared to last year, and I don’t see the supply side of the equation changing anytime soon. At an average of 104 days on market, real estate in Denver is still selling MUCH quicker than in most other cities. (According to Realtor.com, in May, homes on average sold faster in Denver than any place in the nation, according to an analysis of 146 metropolitan areas.) Yes, the average property lost 2.6% of its value compared to the same time last year, but some leveling in our market was bound to occur as it does in ANY market over time.

The reality is our firm has several clients shopping in the $200,000 to $400,000 price range who are having real difficulty finding homes in Colorado. As you can see by the graph below, this isn’t too surprising considering over 50% of the homes selling in the current market are in that price range! (Of course I have NEVER had a client for whom I couldn’t find a suitable home, it just seems to take a bit longer in these price points right now!) This seems to be the “magic” price range where homes are affordable. In many cases, the consumer is choosing between spending an equal or greater amount in rent for a comparable home that they can purchase, often at an equal or lower monthly payment!

As always, we are up-to-date on the latest Denver real estate market happenings. Please don’t hesitate to contact us whenever you or someone you know is considering buying or selling a Denver loft, home or condo!

One thing has been reportedly been rising at a record rate... the cost of rent.

The Denver Post reported in yesterday's article "Metro-area apartment vacancies hit 10-year low, pushing rents up" that rates are up and vacancies are down and continuing to trend that way. This Denver Post article states

"Green's analysis is supported by a report released Monday that said apartment vacancies in the metro area have fallen to a 10-year low in the second quarter of 2011, with a vacancy rate of 4.8 percent.

And with declining vacancy rates, there has been a jump in median rents."There are a few things going on in the market right now.  With vacancy rates dropping landlords are finding that their properties are renting faster, that they are getting higher rents, and that many are asking for longer term rental periods.

From a real estate perspective and new construction in Downtown Denver lofts and condos this means developers have been sizing up different opportunities for their land.  With rental rates increasing and the demand for rental properties growing it just makes sense to build apartment buildings instead of condo buildings.  For example in Riverfront Park the site in front of the Manhattan is currently underway for a second phase of rental properties.

Additionally a letter just went to Riverfront Park residents proposing another rental building on the land adjacent to the Railyard Dog Park with 242 more rental units.

So with Rents on the rise we've had a growing interest from clients interested in Investment Properties as well.  Some of the most popular (aka highest renting psf) properties such as the SPIRE and Glass House are drawing interest as well as the many investment properties throughout Denver.

But perhaps the biggest trend has been a focus on taking advantage of great real estate opportunities that exist today (often in the same buildings as SPIRE and Glass House) for primary residences because with rents so high the value of home ownership is becoming even more attractive.  And with new plots of land being developed as rental properties the schedule for a new SPIRE or Glass House project to become available is moving farther and farther off into the horizon.

To learn more about the great downtown Denver condo and Downtown Denver loft opportunities for primary or investment goals please feel free to contact any of our team members at New Era Realty.

Whether it's one of our clients who just purchased a new downtown Denver condo in the 42 story glass tower at SPIRE or one who just found their downtown Denver dream home with a historic LoHi Denver square one thing is for certain... there's some new home decorating going on.

Everyone has a different style, a different vision for their dream home.  Many love the high rise Dowtown Denver condo lifestyle of SPIRE, Glass House, or the Four Seasons where your home is rich with amenities such as luxurious swimming pools, spas, fitness centers, media rooms or more.

Others prefer the historic Denver Square residences or private homes with their own green space and character.  These are most often found in the great LoHi, Highlands, Ball Park, Wash Park or other popular Downtown Denver neighborhoods.

And with each home comes a different style of interior design and an individual budget.  But of some time one of the most popular affordable furniture solutions has been the Scandinavian company IKEA.  Unfortunately those residing in Denver were left with a limited selection of items that IKEA would actually ship or paying for delivery from some of the many IKEA delivery start up companies that made their business model work by taking a truck to the IKEA locations out of state and bringing the requested items back to Denver.

Well Downtown Denver condo and Downtown Denver loft residents... the wait is almost over.

Tomorrow IKEA Centennial opens it's doors on their newest location in the United States at 9:00 AM.  But unless your really really really need that Expedit bookcase for your home you might be wise to wait until the crowds die down before making the journey.  Instead roll the dice on their website by registering for the IKEA card and be entered for a $1000 gift card.

I guess IKEA realized what we already knew... Denver is the place to be.

All of us at New Era Realty wish you good luck on your new home decorating and please contact anyone on our team to learn more about the exciting Downtown Denver real estate opportunities in any of these great neighborhoods.

It's hard to keep up with how quickly Downtown Denver home neighborhoods are improving.  From the new restaurants opening in LoHi to the Ambassador Street improvements outside the front door of SPIRE we have to admit... our city rocks.

And now here's another great improvement that is adding to the great Downtown Denver real estate neighborhood surrounding Tennyson Street between 38th and 44th.

Tennyson Street is getting a full streetscape improvement including new beautiful sidewalks and pedestrian walkways, planters, raised platforms displaying artwork, and subtle and tasteful lighting for those wonderful First Friday Art Walks.

With a focus on making the area more pedestrian friendly the new Tennyson main street will offer bulbed out intersection walkways to promote pedestrian safety and numerous bike racks to allow for easy parking of the two wheeled kind.   Plus with some help from many talented designers of both the Urban and Landscape style the new streetscape is planned to be beautiful!

Every Downtown Denver condo and Downtown Denver loft neighborhood has it's own great qualities.  Berkeley is something special among them all.   The area has been almost a secret spot and special favorite among the Downtown Denver Real Estate market with it's many great restaurants, shops and amenities.  Also it's prime location next to the Highlands and near LoHi make it an easy bike or walk to the great restaurants of these neighborhoods or quick and easy access into Downtown Denver.

But the secret won't be quiet for long.  Projects such as this Tennyson Street Improvement and the various new real estate developments in Berkeley are drawing attention and cheers as this Downtown Denver Real Estate area continues to get better and better.

Affordable Denver condos, Denver lofts, and Denver homes within walking distance of this new Tennyson Main Street are drawing interest.. and all of us at New Era Realty are available to answer your questions about current offerings and the great amenities of Berkeley.

Call us today to learn more about Berkeley or any of the great Downtown Denver neighborhoods.