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 |
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Total Arvada Residential
Units |
39,919 |
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Average Detached New Home
Price |
$ 362,444 |
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Average Attached New Home
Price |
$ 226,386 |
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Estimated Average Home Resale
Price |
$ 232,462 |
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Average 2-Bedroom Apartment
Rent |
$ 732.71 |
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For Sale By Owner >The FSBO Myth Real estate transactions can be tricky. The widespread myth that selling real estate is easy has lured many home sellers into making expensive mistakes by trying (and failing) to sell their own home.
Many people assume that all you need is a sales contract, a classified ad and a "For Sale" sign. But even the most basic step -- setting the correct sale price -- depends on a number of factors. The location, size and condition of your home, the relationship between the local supply of homes and the number of qualified buyers, and the recent selling prices of comparable homes in your neighborhood all affect the market value of your property. Homeowners who sell without a professional realtor often misread the local market and overprice the home.
Sellers might also mishandle contingencies, home inspections, title clearance, deadlines and disclosures. The advice and guidance of an experienced real estate agent is essential to ensure that you avoid the risk of expensive litigation and ensure a successful home sale.
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| Q |
What area was designed to look like a 1940s southeastern town with traditional architecture?
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| A |
Disney's "Celebration" in Orlando, FL, will eventually have 8,000 houses and many commercial tourist attractions. |
 See More Real Estate Trivia > |
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