I listed Glass House #1807 on Tuesday and had a great offer that was accepted before the day was out. My seller was ecstatic and the renter was happy to not have to deal with showings. This market is hot! If you are looking to buy, you need to be ready to make jump when a property hits the market. And for the people looking to sell, I can’t stress enough that now is the time! Glass House #1807 is a great one bedroom condo with stunning views of the mountains, park and city. Situated on the South side of the building this home gets abundant natural light throughout the day. This condo was listed at $359,000 and is 697 SF.
The Union Station Neighborhood is starting to take shape. Cadence, the first apartment building, is now open with tenants happily enjoying the building. The North and South Wing buildings are getting very close and the retail on the first floor will be open in a few short months. Additionally, all of the retail was just announced in the Historic Union Station. As you probably know, the majority of the building is being converted into 112 unit hotel named the Crawford Hotel. Here is the list of tenants that will be open as of July 12th.
- Milkbox Ice Creamery –Serving Little Man Ice Cream
- Pigtrain Coffee – Serving Novo Coffee
- Cooper Lounge
- Terminal Bar – Serving 30 Colorado craft beers
- Bloom – Great florist out of Cherry Creek
- Eatmore Burgers and Brats
- Fresh Exchange
- Tattered Cover Book Store
- Snooze – My personal favorite breakfast restaurant
- The Kitchen Next Door
- Alex Seidel’s Mercantile Dining and Provision – Chef and owner of Fruition
- Stoic and Genuine Fish
If you considering selling, I want you to know that the market is HOT!!! After several years of low inventory there is an incredible amount of pent up demand for homes. I have buyers waiting for something to come on the market. Now is a GREAT time to sell. If you are thinking about it, give me a call. I’m happy to put together an estimate of what your home is worth and a net sheet for you to review. Call me at 303.618.3622 or email me at firstname.lastname@example.org.
In a Denver Post article this week, Trulia did a study stating that it’s cheaper to buy in the 100 largest metro U.S. markets. In Denver it’s 43% cheaper to buy than rent. This is primarily based on the growing population in Denver making a very tight rental market. There are apartment buildings going up all around downtown, but if experts are correct, these units will be absorbed without much drop in the rental rates. Ryan McMaken, an economist with the Division of Housing said “People continue to move here and people continue to form households here. New households include people marrying and moving into their own homes, people moving from other states, and people divorcing and creating two households from one. So as long as that continues, you have new people coming into the market who need somewhere to live. We are not building enough units to cover the number of new household formations.” I know I’ve been saying this for years but with interest rates still low, now is a great time to buy! To read the whole story, click here.
In a recent Denver Post article, experts are expecting 2014 to be a more balanced market than 2013. Last year had an incredible “gold rush” mentality with low interest rates and even lower inventory levels. Buyer’s got very aggressive and in turn many sellers got lucky. According to statistic from Metrolist, “the number of transactions closed jumped 26.3 percent, and the median price of a home sold was up 10 percent.” This year the inventory level is even lower than it was in January of 2013 but experts believe the higher home prices and interest rates will keep a more level market with estimated growth of 6% or 7%. Foreclosures were down over 60% from 2013 which is a great sign in any market. This article has a lot of interesting information about the current market and expectations for 2014. Click here to read the article.
RESIDENCE SALES PRICE SF BEDS/BATHS SOLD DATE STATUS
Glass House #1124 $354,000 722 1 BD / 1 BA 12/03/13 Individual
Glass House #106 $450,000 1,345 2 BD / 2 BA 12/04/13 Individual
Glass House #609 $301,000 714 1 BD / 1 BA 12/04/13 Individual
Townhomes #1400B $590,000 1,869 3 BD / 3 BA 12/06/13 Individual
Park Place #513 $260,000 712 1 BD / 1 BA 12/23/13 Individual
Park Place #307 $495,000 1,282 2 BD / 2 BA 12/31/13 Individual