About the Denver, Arvada and Westminster Real Estate Market  Although interest rates are down - buying activity has slowed significantly. Showings are sluggish and buyers are finding a large selection of homes for sale. Open house traffic is the lowest in years. Home resale can be considered a Buyer's Market. Homes in move-in condition and priced right are selling in about 30-60 days. Homes needing work, updating or priced aggressively are taking a long time to sell, from 90-180 days. There is definitely an oversupply of available resale homes. Sellers are lowering prices to get them sold resulting in a drop in property values. Builders are negotiating new construction prices with Buyer's, a trend we have not seen in years. The slowing may be more than seasonal. Layoffs in the Telecommunications field have been significant. New home starts have been curtailed. Larsen Homes, an area builder, recently declared bankruptcy - the first new home builder to fall. The next few months will be a great indicator as to the slow down being seasonal or economy related. There seems to be an upturn in relocation from out of state with Arizona and Florida leading the pack.
Arvada Housing
Statistics |
|
Total Arvada Residential
Units |
39,919 |
|
Average Detached New Home
Price |
$ 362,444 |
|
Average Attached New Home
Price |
$ 226,386 |
|
Estimated Average Home Resale
Price |
$ 232,462 |
|
Average 2-Bedroom Apartment
Rent |
$ 732.71 |
Request our Free Denver, Arvada and Westminster Relocation Package. It's packed full of useful and important information about the Denver, Arvada and Westminster, Colorado area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out...
Financing Your Home >Buying Cooperatively
Today it is becoming quite common for friends to pool their resources to buy a larger home than either of them could afford alone. Some builders cater specifically to this group of buyers by offering homes with two "master suites" instead of the more typical room arrangement. If you are considering a joint purchase, you and your buying partner should outline clearly your agreements about your shares in the down payment, the monthly mortgage payments, and what you will do if one of you decides to move out.
Before committing to a property, sit down with a real estate professional to discuss your options. Should you take possession as joint tenants? Will you have a 50/50 interest in the property, or should the interest be adjusted to reflect each person's share of the down payment or the monthly mortgage payment? Your agreements with your buying partner should be clearly expressed in writing.
|
 |
| Q |
What five basic components of a "smart home" can be controlled by technology?
|
| A |
Lighting and window treatments, security and access control, data communication, environmental/energy management, and audio/video entertainment can all be operated by a "smart home". |
 See More Real Estate Trivia > |
|
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT 
