Owning Continues to Become More Affordable Relative to Renting, but Several Obstacles Prevent Many From Biting.

By NICK TIMIRAOS

Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.

Where Housing Is Headed

The Wall Street Journal’s third-quarter survey of housing-market conditions in 28 of the nation’s largest metropolitan areas found that home values declined in all but five markets compared with the second quarter, according to data from Zillow Inc. Meanwhile, rent levels have risen briskly across the country and mortgage rates, hovering around 4%, are the lowest in six decades.

As a result, monthly mortgage payments on the median priced home—including taxes and insurance—are lower than the average rent levels in 12 metro areas, according to data compiled for The Wall Street Journal by Marcus & Millichap, a real-estate brokerage that tracked 27 metro areas. It remains less expensive to rent than to buy in 15 cities. But affordability hasn’t done much to lift the sagging housing sector because many would-be buyers are unwilling to purchase a home or unable to qualify for a mortgage.
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http://online.wsj.com/article/SB10001424052970203764804577060502694077494.html?mod=WSJ_RealEstate_LEADTopNews

November 16, 2011 –

DENVER – Foreclosure filings and sales continue to drop in the Denver metro area, including Boulder and Broomfield counties, according to the latest report from the Colorado Division of Housing.

According to the division, 83 foreclosures were initiated in Boulder County last month, a 32 percent decrease from the 122 initiated in October 2010. In Broomfield, 18 foreclosures were started, down nearly 31 percent from the 26 filed in October 2010.

In the seven-county metro region, the number of foreclosures dropped nearly 21 percent on a year-to-year basis.

The number of foreclosure sales in October dropped 19 percent in Boulder County, to 29 from the 36 properties auctioned in October 2010. The number of auctions rose to eight in Broomfield, from six in 2010.

Foreclosure sales dropped 34 percent in the Denver metro area on a year-to-year basis.

The year-to-date numbers show a similar trend. In Boulder County, 815 foreclosures were started through Oct. 31, down 28 percent from the 1,134 started in the first 10 months of 2010. Broomfield has seen a 26 percent decline, with 190 foreclosure proceedings started, down from 256 initiated in the same period in 2010.

The number of foreclosures started in 2011 in the Denver metro area has dropped 30 percent from the same period in 2010. The number of auctions has dropped 24 percent.

“October’s auction sales fell off more than expected, and it’s pretty clear at this point that there’s a well-established downward trend now in place,” said Ryan McMaken, a spokesman with the Colorado Division of Housing. “We’re cautiously optimistic that the trend will continue, but we’re waiting to see how things look after homeowners begin to pay off holiday bills early next year.”

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The latest environmentally friendly home features aren’t just good for the planet they look great and are a huge draw for the conscientious buyer. Here are some eco-friendly home trends if you are considering any home improvements or remodeling.

New Trends

Copper Roofs ~ Copper and copper alloys such as brass and bronze are showing up on roofs, entryways, facades, gutters and downspouts. These roofs and copper products can be good long term investments because they tolerate inclement weather. A properly installed roof could last up to 100 years versus composition roofs that average 30 years.

Timber Framing ~ Timber framing requires significantly less lumber than the traditional “stick built” housing which uses 2 by 4 studs. Using timber framing in your home construction or remodeling requires less energy to make because it uses freshly cut wood.

Rainwater Holding tanks ~ Capturing runoff from roofs and gutters is becoming more popular. This runoff water is captured in the holding tanks and then filtered and can be directed into indoor plumbing, the laundry and sprinkler systems.

Reclaimed Wood Countertops ~ Fast growing plants like bamboo and already cut woods that aren’t being used are finding new life as gorgeous countertops or other household decor. The wood types vary in color and texture from antique heart pine used in southern mills, and old farms to pine beetle kill, red oak and douglas fir.

 Induction Cooktops ~ Unlike traditional cooktops that heat up the cooking surface, the coils of an induction cooktop release their energy directly to the pot or pan and its contents. That means less energy is diffused in the cooking processes. It also means the cook top surface remains cool to the touch, making it safer. The technology is still more expensive than comparable quality electric and gas appliances.  Home owners should eventually see their energy bills drop.

Smart Irrigation Systems ~ Weather TRAK controllers automatically adjust watering schedules based on the needs of your landscape and local weather conditions. The system receives satellite data about local weather conditions to adjust the watering schedule. The price of a system depends on the number of sprinkler heads. Besides better looking lawns the home owners reap lower water bills.

Water Heater Timer ~ Standard water heaters keep gallons of water heated all of the time whether they’re needed or not, contributing to higher heating bills. Installing a water-heater timer enables you to set specific on and off times for water heater operation.

Plant Trees to Save Energy ~ Thoughtful landscape design can lower the demands put on air-conditioning and heating systems. Shade trees can be put in strategic locations to provide shade around the home. Planting deciduous trees to provide shade on the south side of a house can lower the cooling load during summer months by providing a solar shield.

Call me today for great contractors that can get you started on your home remodeling projects 720.210.7377 or visit www.coloradosells.com

For more information visit www.coloradosells.com and visit my blog!

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or email me at courtneyi@kw.com

or call me at

720-210-7377

With this new year we have opportunities to leave 2010 behind and build on any successes or challenges we faced in 2010. The way I approach ever new year or birthday is by telling myself

” Each year I am more stable and successful in my career, I have more balance with a growing family and feel more wise and in charge.” Maybe its naive of me to think this way as I am not approaching an momentous age milestone but I think its a blessing that we get another year and tomorrow to become better!

In real estate I always see a renewed sense of optimism among buyers and sellers in the first part of each year. I foresee consumer confidence continuing to build and our economy and markets starting to recover, grow and even stabilize. Although interest rates have raised a bit they are still at historical lows and probably will not go lower based on recent trends and movements by the feds.

If you are a new years resolution maker here is an article to help you navigate succeeding at your goals.  http://www.time.com/time/health/article/0,8599,1950511,00.html

Here is to a wonderful new year!

‘We spend January 1 walking through our lives, room by room, drawing up a list of work to be done, cracks to be patched. Maybe this year, to balance the list, we ought to walk through the rooms of our lives… not looking for flaws, but for potential.’
Ellen Goodman

Real Estate News…. 

9 News Parade of Lights–  For over 30 years, this Holiday Parade has dazzled spectators and warmed hearts. Join thousands of Colorado residents for this great parade Dec. 3rd and 4th. The event starts at the Civic Center Park.  Visit  www.denverparadeoflights.com.

Nutcracker-    Join Clara in her adventure with the Nutcracker Prince in the Land of Snow and Kingdom of The Sweets. The Nutcracker runs Nov. 27th– Dec. 26th. Ellie Caulkens Opera House, Denver.

A Christmas Carol– By Charles Dickens at the Performing Arts Center. This show is featured Nov. 26th -Dec. 24th at the Buell Theatre. Call 303-893-4100

Breakfast with Santa  Hosted by  the Wildlife Experience– Enjoy breakfast with Santa. Children will enjoy, face painting, cookie decorating and lots of goodies. Dec. 4th, 11th, 18th and 24th from 9-11 a.m. call the Wildlife Experience in Parker for more information and prices 720-488-3344.

Blossoms of Light at the Denver Botanical Gardens– Enjoy exquisite holiday lights which highlight the natural beauty of the gardens. This event runs Dec. 3rd– Jan. 2nd Visit www.botanicgardens.org

Wild lights! Denver Zoo-  If your looking for an animal winter wonderland, the Zoo’s the place for you. Wild lights runs Dec. 10th– Jan. 2nd 5-9 p.m. nightly . For More Information visit www.denverzoo.org.

Denver’s Grand Illumination–Enjoy the grand lighting at several Denver locations. From Union Square to Larimer Square, Skyline Park to Denver Pavilions, culminating at the City and County Building between 6-7 p.m on Nov. 26th.

Snack With Santa– Dress up with your holiday best and join Santa Claus and his reindeer (meet a real live reindeer) at the Denver Children’s Museum, Sat. Dec. 4th from 10-1 pm. Visit www.cmdenver.org for more information.

More Holiday Events

Santa Claus Train– Dec. 4,11,12 and 18, Colorado Railroad Museum, Golden. www.crrm.org

Candy Cane Festival– Dec. 11th Hammonds Candies Factory, 5735 N. Washington St., Denver

Evergreen Holiday Walk– Dec. 3rd, 6-9 p.m., Evergreen Lake and Downtown Main Street, Evergreen

Georgetown Christmas Market– Dec. 4,5,11 & 12 from 10-5 daily on 6th St. in Georgetown

New Years Eve Fireworks– Dec 31st at 9 p.m. and Midnight, 16th Street Mall, Denver