Best Movers in Denver – 303-329-3217

The residential real estate market just keeps getting stronger, according to reports from Case-Shiller that share the home prices in the Denver metro are not only rising–they have hit an all time high! The Denver local movers have learned that the home prices in May hit an all time level, finally bouncing back (and then some) after the housing collapse when the bubble burst seven years ago.

Denver area prices were up almost 10 percent from May 2012, making May 2013 the 17th consecutive month to have year over year gains in real estate prices. In fact, Denver has seen month over month gains of 9 percent or more every month leading up to May.

So what’s the comparison to the national scale? Nationwide, home prices were up 12.2 percent in May 2013 from May 2012. There was also the largest leap in prices recorded in a 12-month period since 2006. Sales numbers of new and existing homes are at multi-year highs.

In metro Denver, apartments are a hot commodity. So hot, in fact, that the vacancy rate for apartments in the area has dropped to its lowest point in thirteen years, prompting discussion about new construction for multi-family residences. The Parker movers have learned that rental rates are rising, with current figures ($1,022 on average) about 4.3 percent higher than last year’s data.

Inventory is so tight that some complexes have less than twenty available units–they are almost all at maximum occupancy. Throughout the next two years, there will be 12,000-15,000 new units that will be available. But for now, the number is pretty much fixed. Demand has reached an all-time high as young professionals and other people have moved to the area as economic growth and job growth gain momentum.

As the demand for buying a home in Denver continues to rise, the prices are also jumping in direct correlation. Online real estate data source Zillow has released some data pertaining to the region and its massive growth in comparison to the rest of the United States. The Cherry Creek movers have found that the real estate growth in the Denver metro is leaps and bounds beyond the national average–with home prices rising here to twice the national average. Across the board, Denver numbers are soaring.

Home price gains for Q2 in the Denver metro were recorded at 12.1 percent higher than the same time period of 2012. The median for homes sold in Q2 of 2013 came in at $240,100. In comparison, U.S. home prices rose 5.8 percent from the same time periods, and the national median clocked in at $161,100. Despite a lower median, the second quarter of 2013 was the busiest period for the U.S. housing market since 2004.

With home prices already set significantly higher in Denver, will they continue to climb? Experts say no. Prices remained stable in Denver throughout the recession, so they didn’t have anywhere to go but up.

Recent home spikes, mortgage spikes, and availability drops are all credited with impacting the current real estate outlook for Denver. What’s to come for the rest of 2013? We’ll be sure to share it as we learn about it. If you are considering a move to the Denver metro, we encourage you to come out and visit. Come see what makes Denver one of the most desirable places to live in the USA!

Buying a home is a huge step in your life, and it is important to be well versed on the happenings in the local real estate market to ensure that you get the best deal on the Denver home of your dreams. Currently, the market is changing. Lenders are relaxing their previously tight grip on the mortgage market, and the Denver local movers want to help you prepare for the mortgage application process and get on the path to owning a new home here in Denver. Here are some of the recent mortgage changes:

1. Some lenders are easing credit score requirements. If you didn’t qualify a year ago, it wouldn’t hurt for you to try again. Other factors, like a large down payment, will sit well with lenders and increase your odds.

2. Piggyback loans are gaining in popularity. A piggyback loan is essentially two mortgages taken out simultaneously on one property. This reduces the interest on one jumbo mortgage with lower rates on two smaller ones.

3. Stated income loans are an option. They require higher down payments, and they are targeted at self-employed borrowers without requiring tax returns as proof of income.

4. A form of subprime loans are back, too. These loans aim to help past homeowners who have healthy incomes now, but previously went through a short sale or some other credit crisis.

5. Competitive interest rates. As the lending interest begins to pick up, lenders will be increasingly competitive with one another to get the client with best deal they can offer. A slight percentage tweak could result in saving thousands off of the total mortgage.

Thinking of buying a home in Denver? Act quick! Our metro is experiencing a boom that is well ahead the rest of the country. We hope these mortgage tips will help you out – and when moving day rolls around, count on your friends at All My Sons of Denver!

One big contributor to the booming real estate market in the Denver area is apparently the ever-popular oil and gas industry. According to reports, Colorado is a popular destination for this industry, with the energy outlook naming Denver among a handful of U.S. cities where a large amount of new energy jobs will be located by 2035. Denver, along with cities like Houston, Philadelphia, and Dallas will get about 75 percent of the 3.5 new jobs in the energy industry. The remaining jobs will likely be in financial hubs like New York City and Chicago.

The Castle Rock movers have learned that these energy companies are rapidly seeking to scoop up space in Denver, and that energy tenants in the area paid almost 10 percent over landlord asking prices on average.

Colorado is seeing a boom in terms of commercial real estate demand, according to the Denver Post, which published a report recently stating that the leasable space and investment properties are well outpacing the supply currently available. Demand for office space is poised to rise as well, thanks to the continually increasing white collar positions, where creation and retention of these positions grows at a rate far higher than any other U.S. market. The Denver commercial movers have found that there is a shrinking supply of office space, and that lease rates are rising in almost all property categories throughout the entire state.

Vacancy rates are down and metro Denver showed the largest first-quarter decline in office vacancy rates from the nation’s 12 largest markets. The one area of property that seems to be struggling amidst the success of the area is large retail space. The metro Denver area alone has a minimum of 75 retail spaces, each encompassing 20,000 square feet, which are all vacant in the area.

In the increasingly competitive real estate market of Denver, some potential buyers are finding frustration rather than a contract. With rising demand, dropping inventory, and an all around urge to buy in Denver, the result is bidding wars on properties and also properties selling in a matter of days before interested buyers can even view them. The local Cherry Hills movers have found that time is of the essence in the local real estate. Homeowners are receiving offers well above appraisal prices, which is then making it difficult for buyers to seek the appropriate amount of lending. Banks don’t want to loan out more than a property is blatantly appraised for.

In these scenarios, mortgage companies are requiring additional appraisals, a step that delays the contract and risks the home hitting the market again as a pending contract fizzles out. One problem with the appraisals is that the Denver market is continually fluctuating, making it difficult to obtain an appraisal that is both fair and accurate.

According to recent statistical data gathered on the Denver metro, now is the time to buy your forever home in the area. As of late June 2013, there were about 11,000 homes and condos for sale in the Denver area — an amount that is reflective of a 28 percent decrease in the local available housing supply over the last year. The Denver local movers have found that in addition to dropping availability, the median price for homes in the area is up about 18 percent, bringing the median to $355k.

One pushing factor that is fueling the market is that the interest rates are steadily increasing in the area, which is of no surprise to many because they have remained down so long, rising rates were only natural. The urge to buy in relation to interest rates is simple–rising rates will likely continue to rise.

Most recently, the average rate for the 30 year fixed mortgage rose to 4.46 percent from 3.93 percent, the biggest one-week jump since 1987. It was the highest lending rate since July 2011 and was above 4 percent for the first time since 1987.

The Denver metro area is brimming with luxury residences, and the sales of these properties has grown significantly in the last year–with current sales numbers double last year’s. Denver has the most million-dollar sales with 24 homes, followed by Boulder with 19, Cherry Hills Village with 12 and Greenwood Village with 10. The Cherry Hills Village movers have found that the total $1 million-plus home sales for April 2013 in the region totaled 93. That is a 44 percent increase from April 2012. Despite a large growth in inventory sold, the median sale price for luxury homes declined by 8.8 percent from the same comparative time period.

Time on the market is decreasing for luxury homes, and the average length of time that houses are spending on the market is about 121 days, down from the previous average of 172.6 days last year. Additionally, sellers are receiving 96% of what their asking prices are, up slightly from last year’s 93% average.

The housing market in metro Denver has grown significantly in the last 15 months with year over year price gains and a consistent demand for property in and around metro Denver. The metropolitan area grew almost 12 percent in April 2013 from April 2012. In addition, the average jumped almost 3 percent, while statewide sales grew almost 11 percent for healthy properties and 10.5 percent when including REOs and distressed properties. National home prices have seen growth as well,with year over year growth in April 2013 at 12.1 percent and the highest increase since February 2006.

The Cherry Hills movers have found that metro Denver prices have increased 11.6 percent in April 2013 from April 2012 and have risen already since March 2013 by 2.2 percent. The Denver movers are excited that our metro is strengthening and that we are also gaining recognition as an ideal place to live, work, and raise a family. Thinking about moving to Denver? Call us today to learn more about what our city has to offer and to get a great rate on your upcoming move!