Denver Real Estate Market Report - Highlands Ranch Eastridge 2006

Market Data Report

Overall:

Market data in this report pertains to Highlands Ranch filing 120 - a map of this area appears here and on the mail card you received.

This neighborhood ramped up sales in the latter half of this year, owing to it's affordability (couples earning average Denver Metro wages can afford a home here) and it's great location. Your neighborhood is avoiding the foreclosure activity that puts a drag on home prices that we see in neighborhoods of similar affordability in Denver and Aurora.

Having said that, you are not free of this problem and the lowest sale prices in your neighborhood are foreclosures. This is going to affect your sale and appraisal prices. Expect to see more foreclosures here in the coming year as more Adjustable Rate Mortgages hit the three year mark and interest rates shoot mortgages up beyond family capacity to pay.

Expect this to continue to be a popular neighborhood in which to move. Those planning to move should think of doing so soon, before more foreclosures here drag prices down and mortgage interest rates make their predicted increases, which will also push housing prices down. Below is a look at the latest data, which tells you how the market is looking at your neighborhood, not your home.

The Data
Number of Homes Sold in 2006: 70
Average Days on Market 2006: 65
Days on Market range 2006 solds: 2 days - 246 days
Average Sale Price 2006: $266,362
Sale Price range 2006: $203,906 ? 393,000
Price per Square Foot 2006: $145.24
Average Square Footage: 1834

Interpretation and Advice
We see that your neighborhood is holding it's own right now. I can tell you that this is the fastest-moving price point in the Denver Metro area today and that if you are considering buying or selling in this neighborhood, this is a great time to do so. I can find the best value for your purchase in this neighborhood or I can let you know how to prepare your home for market so it sells quickly for top dollar. Some things to remember if you are considering selling and purchasing a home in the coming year is to:

1. Make no major purchases. No trips to the furniture store, no new cars, etc. Check with a loan person NOW about your credit record and ask about what you can do now to pump up your score. You want to get the best rate possible when you buy your new home.

I prefer working with a knowledgeable, trustworthy lender with years in the business like Ron Brown at Nationwide Lending Group. Call him at (303) 989-8500.

2. If your home has a lot of fancy wallpaper, colorful paint and "decorator" touches, start working on making your home more neutral, one room at a time, so it does not become a big job when you put the house on the market. Creamy neutral tones sell homes.

3. Do bigger projects like sanding and painting the exterior, refinishing the deck, making maintenance-oriented repairs so this does not become a big job when you are ready to put the house on the market.

4. Pay attention to your yard. Get rid of weeds and overgrown bushes, bald patches in the lawn, plant nice flowers.

5. Get in the habit of getting rid of clutter. Get rid of things that just take up space (making your home look smaller), un-stuff overstuffed closets, get rid of storage, find a place for everything you use and get rid of the items you do not use. Visit model homes if you are not sure of what will look like clutter to a potential buyer when s/he visits your home. (TAKE your BROKER with you to the model home!!)

Call me at (720) 275-3926 if you want a professional Inspection and Market Analysis of your home, at no cost to you. I am keeping a close eye on homes in your neighborhood and it would be my pleasure to make your sale a complete success.

Your Personal Real Estate Information Source,

Marie de Espinosa

Integrity, Insight, Results!