Denver Metro Real Estate Report: Southglenn Neighborhood

Market Data Report

Overall:

I cannot say enough good things about the Southglenn Neighborhood! Let me try: this price range remains the fastest-moving in the Denver Metro area what's more, buyers and homeowners here enjoy larger homes and lot sizes for the price than in much of the Denver Metro area. Add in expected appreciation due to the Streets at Southglenn development, incredible parks and recreation amenities and the close commute to anywhere in the Metro area and you have the fantastic mix that makes up Southglenn today.

Sales have remained steady compared with 2005 numbers, still selling with far less than average days on market; expect these numbers to strengthen in 2007.

The Denver Metro real estate foreclosure problem, rooted in risky loans and lending to risky borrowers, is also present in this neighborhood. Foreclosures affect sale and appraisal prices and there is a drag effect on values in Southglenn. However, it is not at all the problem that it is in other Denver Metro neighborhoods. Stay tuned and expect the foreclosure problem to worsen as Adjustable Rate Mortgages continue to mature, increasing interest rates and raising mortgage costs beyond affordable levels to homeowners.

Last, an increase in interest rates is expected this year which may depress housing prices. This would be offset in a big way by the redevelopment of this area, promoting home values throughout 2007 and 2008. So interest rate increases could slow the rate of appreciation in this neighborhood, but buyers and sellers here will not see the "dips" found in other Denver Metro neighborhoods. Southglenn neighborhood will remain an outstanding investment.

Find below a complete look at the latest data, which tells you how the market is looking at your neighborhood, not your home.

The Data
Home Sale Price Range: $183,000?370,000
Average Home Sale Price: $267,271
Days on Market Range: 3 ? 232 days
Average Days on Market: 69 Days
Average Price per Square Foot: $158.21
Average Square Footage: 1879 square feet
Square Foot Range: 1144 ? 2830

Interpretation and Advice
We see that your neighborhood is appreciating at a level that is unusual in the Denver real estate market today. This means opportunities for investors and renters and for first-time homebuyers to either refinance in order to eliminate mortgage insurance or to capture their gain and put it down on a larger or an investment property. Do this before interest rates rise and create a downward effect on housing prices in your neighborhood.

I can also 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 your time. 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!!)

6. BE CAREFUL about "fixing" up in any significant ways before talking with a professional about whether or not it will add value to your home. Doing the things set forth above are the most important steps to take and will help you greatly when it comes to sale price.

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!