Standard & Poors

In the Standard & Poors/Case-Shiller Home Price Index, Denver reported its third consecutive month of positive real estate returns in May 2009.  From April 2009 to May 2009, Denver home prices increased 1.5 percent.

First American CoreLogic

According to a July 22, 2009 article in the Denver Business Journal, “Both metro Denver and the state of Colorado outperformed most of the rest of the country when it comes to prices of home resales.”  The report from First American CoreLogic is called the LoanPerformance Home Price Index (HOI).  It includes data from sales of Denver single-family homes as well as condominiums and townhomes in Denver.

Nationally since May 2008, the Denver – Aurora – Bloomfield area by end of May 2009 had registered only a 1.86 decrease in home prices.  Compare that with a couple of metro areas in California and Florida that registered home-price decreases of 29.72 percent and 29.43 percent respectively.

Denver Metrolist

Data maintained by Denver Metrolist reflects most of the real estate activity in the Denver market.  At the end of June, 20,853 homes were for sale, a five-month supply.  Numbers showed improvement in every statistical category during June 2009.  With regards to residential and condominium sales figures, the:

• Average sold price increased 6.3 percent
• Sales volume increased 15.4 percent
• Pending sales increased 6.0 percent
• Average list price increased 0.6 percent to $482,482
• Percentage of listings sold increased 14.9 percent

The August 2009 issue of Metro Brokers Real Estate Advisor reminds us that real estate sales are local.  They vary by state, zip code, and subdivision as well as by price range.  Metrolist figures for Denver Metro home sales for June 2009 by price point reveal the following about lower-priced and high-end homes.

For example, 1,900 homes sold for under $200,000 after an average 78.8 days on the market.  Since 2008, that represents only a 4.6 percent decrease in average sold price.  Another 1,699 homes sold for between $200,000 and $400,000 after 81.7 days on the market representing less than one percent decrease over the past year.  Fifty homes sold for over $1M after an average 241.8 days on the market.  That is a 9.1 percent increase in selling prices for these more-expensive homes since 2008.

Federal Housing Finance Agency

This think tank reported that prices in Colorado and the mountain states slipped only 10.1 percent from May 2008 to May 2009, and that is good news!

For more information about real estate in the Greater Metro area including rural farms and horse properties, call Michael Paul of Realty Oasis at (303) 268-6052.

So how do we maintain a horse barn on Denver CO horse property?  First, the horse and the barn need regular grooming.  Horse lovers who create good hygienic habits end up enjoying the equestrian experience thoroughly.  It is imperative for horse owners to remove dirt, manure, dust, stench, and chaff, especially during wet weather.   

To facilitate the ongoing elimination of dirt, start by checking the drainage system of the barn.  On a sunny day, open the barn to allow full natural sunlight to enter.  Clean the floor, hosing it out and observing any drainage problems that may show up as it dries out.  If any drainage problem persists, consult a professional.  Horse barns with dirt floors need to have the top layer removed and replaced.

Establish a routine pattern for cleaning.  Start in one place and move methodically to the next to maintain a uniform maintenance process.  Tweak the method to simplify the removal of waste.  Be sure not to forget the regular cleaning of the loft, horse stables, stalls, walls, windows, and tack room.

Having the right tools for the job is half the battle.  Here are some suggestions:

• Handcart to carry out dirt, feedbags, and other materials
• Power blower
• Lightweight wheelbarrows
• Detachable feed tubs for ease of cleaning
• Rubber mats for the horses to stand on
• Strategically placed wall panels to hang tools and materials

Colorado State University advertises a DVD that features many tips for new ranchers.  It includes information from pasture-management experts, equine clinicians, nutritionists, veterinarians, ranch managers, owners of small acreage, and horse owners.  Homebuyers who will be boarding their own horses may find it especially helpful.

In summation, it is easier to groom horses that live in a clean environment.  Horse barn owners who get the hang of these basics will have more time to enjoy the Rocky Mountain sunsets and extensive equestrian activities offered in the aura of the Mile High City.
 
For more information about real estate in the greater metro area, including farms and horse properties, call Michael Paul of Realty Oasis at (303) 268-6052.

Even so, buyers of Denver CO real estate must scrutinize the trends, the neighborhoods, and have their final pick inspected.  Your professional real-estate agent has access to knowledge about all of the areas including employment and educational information.  Additionally, real-estate professionals can find out about future developments, new laws and rules, and other factors that could affect your decision.  If a fixer-upper is being considered, then it is best to obtain two or three estimates for the time and materials required to bring the home up to snuff.  Unseen costs can ruin the entire investment.

Even if housing prices remain relatively stagnant, time is on the side of the homeowner.  The worst 10-year home-price return was 2.5 percent between 1963 and 2005, according to MONEY Magazine in January 2008.  In many cases, this plus factor remains true, even if the monthly mortgage payment is more than the monthly rent payment would be.  However, people with unstable incomes may want to shy away from the long-term commitment to mortgage payments.

Retirement also present a unique set of variables.  Boomers looking to sell their primary homes and downsize may be surprised to learn that they could be better off turning the entire proceeds into a fixed annuity.  Renting may save homeowner expenses such as maintenance, association fees, and property taxes and all of these costs need to be carefully factored into the equation.

A retiring couple sells a $350,000 mortgage-free home, planning to pick up a retirement home for $175,000.  Net gain will be about $152,000.  Putting that money into an annuity, the couple would get a lifetime $10,500 each year.  Now, if they decide to rent instead, they would have about $329,000 to put into the annuity, netting about $23,000 a year.  However, purchasing still beats renting if they purchase the right retirement home in the right place as described above and hold onto it for several years.

For more information about farms, horse properties, and real estate in the greater metro area, call Michael Paul of Realty Oasis at (303) 268-6052.