Weekly Real Estate Update for 80121 (03-08-2018)


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Why Are So Many Trees Dying in Colorado?

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On a recent trip on I-70 to evaluate some land for a client, I was confronted with sad but beautiful image of red forests stretching for miles across the hills. The image of a red "evergreen" contrasting against the green scenery is mesmerizing at first until you take a closer look at red death destroying millions of trees in Colorado. Beetle epidemics across the western United States are becoming more obvious every season with entire landscapes turning red and brown as trees die. In northwest Colorado the beetle epidemics, triggered by extended drought in aging forests, are intensifying at an alarming rate, and there is little that can be done to stop them. Actions can be taken to protect high value areas such as ski areas, developed campgrounds and trees in people’s yards. Hastening Death: Pine beetles carry a fungus on their body and legs. Once they enter the tree, the fungus multiplies and spreads. This blue stain fungus blocks the transport of water up the tree’s trunk
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How much you would need to afford rent in Colorado?

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There is nowhere in this country where someone working a full-time minimum wage job could afford to rent a two-bedroom apartment. Downsizing to a one-bedroom will only get you so far on minimum wage. Such housing is affordable in only 12 counties located in Arizona, Oregon and Washington states, according to the report by the National Low Income Housing Coalition. You would have to earn $17.14 an hour, on average, to be able to afford a modest one-bedroom apartment without having to spend more than 30 percent of your income on housing, a common budgeting standard. Make that $21.21 for a two-bedroom home -- nearly three times the federal minimum wage of $7.25. The minimum hourly wage required to afford rent on a two-bedroom apartment, of course, depends on where you live -- ranging from a low of $11.46 in some counties in Georgia to a high of $58.04 in the San Francisco Bay Area. The most expensive state for housing is Hawaii, where workers would need to make $35.20 an hour to afford
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Centennial - Willow Creek January to March 2008 single family home sales report

11 residential closings up 57% over 2007. Absorption Rate is good at 5.72 months, and the best news is the increase in $/SqFt by 9% This list has all subdivisions in the Willow Creek including Willow Creek, Willow Creek II, Willow Creek III, Townhouses and Cluster homes. Jan - March 2007 Jan - March 2008 % Change # of sales closed 7 11 57% # of sales Closed - YTD 7 11 57% Avg Days on Market 182 98 -53% # of Active Listings - 21 - Absorption Rate (months) - 5.72 - Average $ per SqFt 155 169 9% Average Price (Sold) 374,365 331,091 -11% Click here for active homes for sale in Willow Creek Absorption Rate Definition - the rate at which a market can absorb additional units of supply without causing market saturation and severe price distortions. For example, during a recessionary period, many homeowners may list their house for sale. Since the supply of homes entering the home resale market increased without a corresponding increase in demand, the market absorption rate has been exceeded,
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Willow Creek Map

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Willow Creek in Centennial is composed of four separate subdivisions. I hope you find this map useful to determine the HOA you belong to or what subdivision you would like to move to. We are your Willow Creek Mortgage and Real Estate experts; Please contact us if you have any further questions.
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Denver’s average home sale price hits record $487,974 in April

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Home sales in metro Denver took an unexpected dip in April, but that didn’t prevent home prices from reaching new highs or temper the frenzy for lower-price properties, according to a report this week from the Denver Metro Association of Realtors. The average price of a single-family home sold in metro Denver reached a new high of $487,974, up 4.2 percent from March and 10.3 percent from a year ago. Buyers closed on 4,389 residential properties last month, according to Wednesday’s report, down 7.4 percent from the number of homes sold in March and down 4 percent from the same month a year ago. The number of homes and condos available for sale at the end of April rose 8.9 percent from the 5,361 on the market at the end of March, a much larger percentage increase than is usually seen between the two months. Very expensive properties can skew the average home price. Another way to look at prices is the median, or the point where half the homes sold cost more and half cost less. T
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