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Lafayette, CO Real Estate News

By Rex Jarnagin
(Your Castle Real Estate)
There are some signs of strengthening in our Denver market.  The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007.  Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because their property is not selling, but lower inventory implies a strengthening market.  Remember, the Denver area had housing inventory of 31,989 units in July 2006. Home sales rose 14% to 4,265 in September compared to the same month last year.  This is due almost entirely to the lower-end of the market (under $180K) selling like hotcakes. October's median selling price for single-family homes decreased 12% to $206,000 from the same month of '07, and was down 4.7% from September's median of $216,1...
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
As the father of two young girls and the husband of a wife that I love dearly, I thought this class may be of interest to women and girls in our community...The Lafayette police dept. is offering a "Rape Aggression Defense" systems class.The women only classes start with awareness, preventin, risk reduction and avoidance, progressing to the basics of hands-on defense training.  It is not a martial arts program.The classes, open to women and girls age 12 and older, are held once a week for three weeks.  The start dates are Jan. 6, Feb. 4, and March 3., 2009.  The cost is $25.Classess run from 6:30 to 9:30 pm and are held at the Polic and Court building, 451 North 111th St.  Online registration is available through the Louisville Recreation Center at www.LouisvilleRecreation.com.For more ...
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
  The Centaurus High School Choirs cordially invite you to their Holiday Breakfast.  Enjoy all you can eat pancakes and a visit from Santa! The cost is $6 for adults and $3 for children ages 5-9; ages 4 & under eat for free. Proceeds will make it possible for the choirs to participate in local and state competitions as well as funding uniforms and other choir essentials. For more information contact Scott Wickham at 303-665-9211 ext. 7743 Starts:8:00 AM  Ends:12:00 PM  Location: Mile High VFW Post #1771 105 West Emma Street Lafayette, CO 80026
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By Rob Kelly, Louisville Colorado Realtor
(RE/MAX Alliance)
Festival is Jan 9, 2010   New Name for Oatmeal Festival The thirteenth annual Lafayette Oatmeal Festival will have a new name in 2009—   Lafayette Quaker Oatmeal Festival. Lafayette Community Events announces that Quaker Oatmeal, the Festival’s major sponsor for the last 12 years, will be the title sponsor for 12 more years. “It makes perfect sense to rename the Festival,” says Gary Klaphake, Lafayette City Administrator. “This Event is all about bringing people together at the beginning of a new year to promote heart healthy lifestyles. With Quaker Oatmeal, that’s exactly what we do. It’s no coincidence that the Lafayette Quaker Oatmeal Festival is scheduled in January every year—it’s National Oatmeal Month!” “Not only is the City proud to bring this family health event to all our citi...
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By Colleen Mullins
(A La Carte Real Estate Services)
Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements th...
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By Colleen Mullins
(A La Carte Real Estate Services)
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000. Comparing 2006 to 2007, the average home price across the metro dropped 2%, from $311,000. The average price of a foreclosure or short sale dropped in that time period -3% to $188,000. The average price of a non-distress sale increased 5% to $370,000. Sales volume over the last twelve months is off -4% for DSF/ASF. Foreclosure and short sale volume is up +31%; non-distress seller volume is off 20%.Some areas did better than others. The attached chart shows different neighborhoods in North Metro Denver. Each region has the neighborhood's name and the percentage of sales in the last twelve months that were either short sales or bank-owned properties. The second line...
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The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The average price in the first three quarters of 2008 was $272,000 vs. similar period of 2007 was $308,000: an 11% decrease. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Colorado Springs or Boulder.Much of the decline is a mix issue. For example, sales volume of homes over 4,000 square feet has plummeted in the last twelve months. Middle-market homes have generally been steady in their sales volume. Very inexpensive homes under 1,000 square feet have greatly increased their sales volume. You can explain it to your clients l...
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By Rex Jarnagin
(Your Castle Real Estate)
  The big message has not changed since last quarter - it's still a great time to be a buyer in the condo market. Prices are at a three year low in many areas, and interest rates on mortgages are still historically low.The average condo price in Metro Denver declined 4% between 2006 and 2007: from $187K to $180K. Homes dropped 3% in that time period. Looking just at the first nine months of 2008 vs. the same time period in 2007, the price dropped 6%: from $181K to $172K. Homes dropped 11% in that time period. From their peak prices in 2006, condos have dropped around 9.5% while homes have dropped 12%. These numbers will be slightly different than Metrolist, as they are just Denver Metro and don't include outlying areas like Fort Collins, Colorado Springs, or Boulder.Some areas did bette...
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By Rex Jarnagin
(Your Castle Real Estate)
  Investor often ask me what types of real estate investments are available on the market.  Here's what we tell them. This is the first of several postings on the topic. Please offer comments - positive or negative! Assignments.  If you don't have much equity to work with, and/or if your credit power is limited, assignments can be a way to get started in real estate investing.  You will need to have a strong "sales" personality to succeed at it, though.    Rental Condo or Rental Home.  Purchase of a residential property to be rented out to tenants, usually on a 6-12 month lease term.  This is how most new landlords get started.  You can hire out all of the property management functions, but in many cases you will do many of them on your own.  There are smaller down payment requirements ...
Comments 0
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006, from $309,000 to $317,000. Comparing 2006 to 2007, the average home price across the metro dropped 2%, from $311,000. The average price of a foreclosure or short sale dropped in that time period -3% to $188,000. The average price of a non-distress sale increased 5% to $370,000. Sales volume over the last twelve months is off -4% for DSF/ASF. Foreclosure and short sale volume is up +31%; non-distress seller volume is off 20%.Some areas did better than others. The attached chart shows different neighborhoods in North Metro Denver . Each region has the neighborhood's name and the percentage of sales in the last twelve months that were either short sales or bank-owned properties. The second lin...
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