Real Estate News, Statistics, Advice about Buying, Selling, Financing and Maintaining your Colorado Home.
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I laughed so hard when I saw this picture. It has nothing to do with #RealEstate but if you have used the internet longer than 2 days I hope you will appreciate it as well.
Colorado’s system of real property taxation can leave homeowners confused and frustrated. This may be especially true if a homeowner receives a Notice of Valuation reflecting an unexpected increase in the value of his or her home which results in an increase in taxes owed. This article will provide an overview of the process by which property values are determined for the purposes of taxation and the options for homeowners who believe their properties have been incorrectly valued. Colorado has a two year cycle for valuing real property for the purposes of assessing property taxes. In odd years, properties are revalued; even years are considered “intervening years” and properties are generally considered to have the same value as in the prior year. In intervening years, notice of the value of property is often contained in a short form along with the property tax statement issued in January. However, in odd years assessors are required to mail a Notice of Valuation, or NOV, to taxp...
Although more home buyers eagerly seeking the dwellings of their dreams, fewer new homes are in bloom this summer. In not-so-promising signs for the housing market, permits to build new abodes, housing starts, and the number of new homes completed dipped in April from the previous month, according to the seasonally adjusted numbers in the latest residential sales report. The numbers of new permits, housing starts and finished homes hitting the market were all up year-over-year in April, according to the report. Housing starts are construction projects that have been started for new residences. It's too early to tell whether the slowdown is temporary or will continue, worsening the housing shortage. There's not enough homes on the market, and the shortage of homes is most pronounced at the low end of the price range, As prices continue to rise, millennials and households with low and moderate incomes will find it more difficult to take the homeownership plunge. The num...
We've all heard the nightmare stories about so-called "fixer-upper" homes. Sometimes things go smoothly, sometimes there are "surprises" you couldn't possibly imagine. For those of you that have seen "The Money Pit" with Tom Hanks and Shelley Long, everything went wrong for the aspiring homeowners, but how would you like to be the poor folks featured in this story ? Sometimes reality is scarier than fiction.
Protest, protest, protest . Front Range homeowners may have that reaction when they first see how much county assessors increased the value of their homes over the past two years amid worries that next year’s property taxes will shoot up as well. Neighborhoods throughout metro Denver have recorded double-digit price increases, which reflects the region’s hot real estate market. The biggest percentage gains are coming in lower-income neighborhoods that lagged in past cycles. The first steps for those who disagree with value placed on their home is to figure out how much the value should be adjusted and whether a protest has a chance of winning. And with a June 1 deadline for protests, homeowners need to act fast. Should I protest? While a big jump in property value may come as a shock, in most cases it is probably justified. But county assessors can have basic information about a property wrong, and they won’t know details about a home’s condition versus others in the neighborho...
7 residential closings up 700% over the same period in 2007. Absorption Rate is ok at 9.0 months. Its not possible to determine any kind of trend since the first three months of 2007 only saw one sale. but it is very encouraging that the sales are off the roof during the same period in 08. Also checkout the average sales price. Jan - March 2007 Jan - March 2008 % Change # of sales closed 1 7 700% # of sales Closed - YTD 1 7 700% Avg Days on Market 229 136 -59% # of Active Listings - 21 - Absorption Rate (months) - 9.0 - Average $ per SqFt 105 148 141% Average Price (Sold) 406,800 622,314 153% Click here for active homes for sale in Piney Creek Absorption Rate Definition Disclaimer - the information and commentary provided in this Blog are opinions of Homes And People and should be used for informational purposes only. All sales data is from the MLS and the information is deemed reliable but not guaranteed.
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