July 31, 2009
July 28, 2009
Sales of newly built single-family homes rose 11 percent in June to an annualized rate of 384,000, according to a report released Monday by the U.S. Department of Housing and Urban Development.
Analysts called the report a good sign.
“That is really good news,” said Peter Morici, an economics professor at the University of Maryland. “With all the foreclosure activity sending down home prices, for new homes to jump like that is a good indicator that the economy is bottoming out.” Hope you’re right Peter.
Denver actually had a number of areas that reported value increases on the year to date stats. But most neighborhoods were pretty flat to slightly negative. I’m wondering how much the tax credit is driving this and what the effect will be when it goes away in December.
Excess inventory still exists in some key markets:
- California
- Florida
- Las Vegas
- Arizona
Source: CNNMoney.com
July 20, 2009
Real estate research site Trulia.com says 24.6 percent of current homes on the market in the United States as of July 1, have had at least one price cut, totaling $27.1 billion in reductions. That declining revenue base could pose problems as municipalities struggle to raise monies for services.
The average price-reduced home has had a 10.4 percent reduction, down slightly from 10.6 percent as of June 1.
We are seeing some optimism in many Denver neighborhoods as prices stabilize and activity increases.
The top-10 cities with the most price reductions as of July 1 are:
- Jacksonville, Fla., 39 percent
- Boston, 35 percent
- Minneapolis, 33 percent
- Milwaukee, 33 percent
- Honolulu, 33 percent
- Tucson, Ariz., 31 percent
- Chicago, 31 percent
- New York, 31 percent
- Austin, Texas, 31 percent
- Raleigh, N.C., 31 percent
Source: Trulia.com (07/10/2009)
July 7, 2009
Over the past decade, baby boomers produced a high rate of entrepreneurial activity, and Dan Stangler, senior analyst at the Kauffman Foundation, says the number of baby boomers starting a business in their traditional retirement years is likely to increase.
In response to that analysis, U.S. News & World Report identified 10 places that it says are the best places for an entrepreneurial baby boomer to retire. It picked the areas because they have an affordable cost of living, proximity to healthcare, fun recreational amenities, and access to information, particularly colleges and university with technology-focused departments.
Here are the 10 best suggestions:
1. Denver, CO
2. Fort Collins, CO
3. Golden, CO
4. Castle Rock, CO
5. Englewood, CO
6. Littleton, CO
7. Parker, CO
8. Vail, CO
9. Steamboat Springs, CO
10. Breckenridge, CO
OK, that’s not the real list, it’s my list. But it’s a good list!
Here is the real list.
1 .Arlington, VA
2. Columbia, Md.
3. Fargo, ND
4. Fayetteville, AK
5. Fort Collins, CO
6. Knoxville, TN
7. Lincoln, NB
8. Madison, WI
9. Round Rock, TX
10. West Des Moines, Iowa
Source: U.S. News & World Report, Emily Brandon (06/29/2009)