We did project 2010 to be slightly better than 2009. We're going to take a "do-over". The first quarter was very good do to the tax credit. When that ended at the end of April, the low end of the market dropped in May, June, and July. Year to date sales inthe Metro area for the first 6 months are down around 2% compared to '09.. That's not bad considering sales in May, June, and July were down around 30%. Again most of that was in the lower price ranges. Active listings were up but not dramatically. There are a number of people who would like to make a move but don't have the equity to sell their old house. This is a building of "shadow demand". As the market improves and prices go up there will be a good number of both buyers and sellers. The bottom line on timing will be the economy and jobs. As the job market improves so will the real estate market. So, our "do-over" is that we expect the greater Denver real estate market to end the year down 5-8 % compared to 2009. The best interest rates in 50 years are not making mush of a difference as lenders continue to tighten qualification requirements. As banks got in trouble, as did GSA's, they overreacted. It really has to swing back the other way. Lastly foreclosures and short sals will be with us for the forseeable future. If you're a buyer you really can't afford to miss the golden opportunity that you have right now.

From everything we hear 2010 promisses to be better than 2009 in the real estate arena. Most areas of the country are starting to see increased activity. This is due in part to the extention of the first time buyer tax credit and the new $6,500 repeat buyer tax credit. We're  seeimg some increased activity in the metro Denver area also. Builders are starting out on a positive note , opening new subdivisions and starting to build "spec" inventory in anticipation of better sales.

The National Association of REALTORS has just launched a new consumer web site called HouseLogic that's designed to help consumers make smart decisions and take responsible actions to maintain and increase the value of their homes. It's a comprehensive web site about all aspects of home ownership. Best of all , it's free. Take a look. It's well worth your time.

Active listings took a tick up in January for the first time in awhile. This is a normal seasonal occurance as people get over the holidays and get back in the swing of things again. People are realizing that with the low interest rates and tax credits that they may not see a better time to buy a home. The window of opportunity is open. Don't let it pass you by.

If you're thinking of buying another home and renting out your existing home the rules have changed that will effect your qualifing for the replacement home. Give us a call at 303-880-2585 and we'll go over the changes with you.

The Broncos didn't win in November and neither did the REALTORS. Under-contract sales were down 29.9% from October. The main reason was all the first time buyers shut down in November thinking they were going to be out of luck with the $8000 tax credit due to expire. The proof here was that closings were up 23%. Now that the $8000 first time tax credit was extended we'll see this segment of the market pick up again. Also included in the Bill was a $6500 tax credit for move up or move down buyers. You need to have lived in your existing home 5 out of the last 8 years. It expires at the end of April and we are hearing it won't be extended. With the tax credit and low interest rates if you're going to mae a move, you won't find a better time. Call Danyliw & Associates, REALTORS with any questions you may have. Tell all your friends and relatives. Happy Holidays!

More tools for both buyers and sellers. First of it's type we now offer free acess to the MLS in a program partnered with Bank of America calles "Hpme Buyer's Scouting Report". You can create your own private account to receive pictures, prices, maps,and even quick alert emails on new properties coming on the market that meet your criteria. We've had great feedback on this program. Give us a call to get on line or go to the "Buyers" section of our website for a video and more information. Secondly, Danyliw & Associates is developing a You-Tube video marketing program for our listings along with submission to all the major real estate portals to give our properties the very best in maximum internet exposure. We always try to prvide the highest quality of service and latest marketing tools available. Check out our new redesigned website at www.DenverRealEstateGuide.com. It contains a welth of information.

Nov. 6th, 2009 - As we anticipated, the $8,000 first time homebuyer tax credit was extended to April 30th of next year. Even better news was the inclusion of a $6,500 tax credit for "move-up" or "move-down buyers" who have lived in their existing home five consecutive years out of the last eight. Go to the banner on our home page for more details. If you're going to make a move, now is the time. Now is the time to get your home on the market with the expected increase in the number of buyers who wish to take advantage of the best opportunity to come along in some time. Don't miss the boat on this one.

Sept. 01-Contract activity for pending home sales Nationally has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of REALTORS. A sale is listed as pending when a contract is signed but not yet closed. The NAR estimates an additional 350,000 sales will take place this year due to the $8,000 first timw homebuyers' tax credit. They also expect home sales to rise through the fourth quarter. More buyers are getting into the market because they don't want to miss the opportunity created by low prices and low interest rates. If you're considering a move, now is definittely the time.

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS. The last time sales rose four months in a row was in June 2004, and the last time sales were higher than a year earlier was Nov 2005. Lawrence Yun, NAR chief economist, said he is encouraged. "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to the higher sales," he said. The monthly home sales gain was the largest on record for total existing sales dating back to 1999. Again , as we said before, real estate is local , but we thought you'd be interested in the latest numbers on a National level.

National figures for June were just released and showed some positive signs. Existing home sales were op 3.6% in June and that's a jump for the third consecutive month. Inventory fell 0.7% which represents a 9.4 month supply. Another good sign was that the number of buyers looking for homes was up nearly 12% from June 2008. First time home byers accounted for 29% of the transactions. Distressed property sales accounted for 31% of the June sales. As you know realestate is local, but the Metro area is also showing some of those positive signs as well. We're also starting to see more buyers in the marketplace. We've been building pent up demand and some of that is starting to break loose. Our local inventory has been stable for the entire first half of 2009 which is great considering that over the last five years we have had increases in the first six months. As we keep saying, a little more light at the end of the tunnel. Know antone thinking of buying or selling? We always appreciate your referrals.

Nothing exciting has happened in awhile. See the current newsletter on our web site for a recap of the sales figures for the first six months of this year. Sales are still down 15% from last year in the Metro area, but we are seeing some increased activity and the median price is increasing indicating a slowdown in the lower price range. Active listings which historically increase in the first half of the year didn't happen this year. So, there appears to be some positive signs out there. Some new legislation inroduced at the National level in the form of additional tax credits would help if passed. Looks like an up hill battle. The National Association of REALTORS is really pushing in their lobbying efforts. Still a great time to buy. A lot of demand being pent up. As it breaks loose we'll see a change in the marketplace.

The latest interesting statistic from the National Association of REALTORS on first time home buyers is that they are now 50% of the market. Also distressed properties, short sales and foreclosures, are  50% of the market. That's first time home buyers and investors in the low end. The good news is that not all first time home buyers buy short sales and foreclosures. A lot buy "normal" properties and that should help the move up market. Just wanted to share this update.