There was an article published on the NY Times recently.  Here are a couple of excerpts:

Five or ten years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.

Then, everyone who sat on their down payment savings accounts for a few years too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime for those who can qualify for a mortgage.  Unfortunately, we do not know when this golden age will begin, because we will be able to identify a bottom to the housing market only with the benefit of hindsight.  But as it does with the stock market, the moment will probably arrive when everyone is feeling the most pessimistic.
 
Meanwhile, first-time home buyers have the same advantage they have always had, which is that they do not have to sell their old place before buying a new one.  That is an added advantage in areas where many available houses simply are not moving, because the people trying to sell them will not be bidding against you.

One other strategy might be to buy new instead of used.  Ian Shepherdson, chief United States economist for the research firm High Frequency Economics, says he believes that a steep drop-off in inventory of new homes is coming soon, thanks to a rapid decrease in home builder activity.

Since prices generally soften in the winter, it may make sense to start looking seriously once the mercury bottoms out.  "If you look at new developments next spring, you may not have the choice you thought you would have or be in the bargaining position you thought you would be," Mr. Shepherdson said.  Also, if you wait after June 30, you will miss out on a $7,500 federal tax credit for income-eligible first-time home buyers that works like an interest-free loan.

http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?em


Our real estate market continues to provide challenges and opportunities - and change is a daily occurence!  If you are in the market to buy a home December is actually a good time to buy.  Right now the interest rate has gone down again, and is still at a historically low rate. Some of the great buys of this year have been HUD homes.  HUD is pricing these homes to move!! - and even though most of the homes need work -- with careful selection you can get a great buy.
This is also the LAST month to be able to purchase with only 3% down using FHA financing.  In January the requirement will change and buyers will need an extra 0.5% to put down -- as the minimum downpayment increases to 3.5%.
So now is the time to find that great buy - don't delay!  Contact us today to find out more about all available HUD homes in the Denver Metro area.  Let us know the area and price range you are looking for and we will be happy to provide you with a free list of available HUD homes.

Our managing partners at have spent some time analyzing our market and the findings are pretty interesting.  Here is what is happening in the Denver market this April:

The housing inventory for active listings is the Denver Metro area for residential and condo units as of April 6, 23008 stands at 26,698.  This is the lowest April inventory in 3 years. 

If you look at the inventory from March to April of 2006 - the inventory grew by 6.54%.
From March to April of 2007 the inventory of available homes grew by 7.3%.
From March to April of this year the inventlry has grown only 1.58%.

Inventory of availalble homes is the most important indicator of where the market is.  This would indicate our market is at/near the bottom.  The old saying goes "As supply goes down, prices go up."

If you look at the sold data - however - the market has not yet rebounded:
 
The number of closed properties in March 2006, was 4062.  In March 2007, the number closed was 3894, and in March of this year we have 3541 homes close.

So  - if you are selling or buying what might your strategies be?
If you are selling, the low inventory should help increase showings and reduce the time to get your home sold.  However, make your home look like a model.  Buyers have gotten used to lots of choices and will prefer homes in the best condition at the best price.

If you are buying be sure you are approved for your loan before making an offer, and keep in mind that inventory is lower.  If you see a great home at a good price, don't wait - there are other buyers out there looking at the same home and if you don't offer fairly quickly it could go under contract.

The Federal Reserve did it again - they lowered the interest rate by 3/4 of a percentage point!
This is good news, and hopefully will translate to lower long term interest rates in the very near future.

Welcome to our new website!  This new site has many more features than our old one, and although not all of our pages are complete, we are making progress.  I hope you will take time to browse through the site and give us any feedback or thoughts you have about it, so we can continue to make it really work for you.