RE/MAX National Housing Report for June 2012

RE/MAX National Housing Report for June 2012

National numbers compare to what we are seeing locally.

Transactions climbing

Prices rising
Inventory shrinking
Days on Market falling

 Call me for a copy of the full report!

Keith A. Hurtubise
RE/MAX 100 Inc.
Certified Distressed Property Expert
Broker Associate
Registered Real Estate Appraiser (Inactive)
710 Kipling St., Suite 110
Lakewood, CO 80215
303-232-4444 office
303-202-2221 direct
303-808-8202 mobile
keithabees@aol.com
www.keithabees.com

Jefferson County Duplex, Triplex and Fourplex

Multiple bids, lack of inventory and rising prices are being seen in Denver’s Small Income Property Market as well as the general residential real estate market. Check out Rechooks Blog for the SFH overview - Denver's housing trifecta: Bidding wars, low inventory, rising prices

I recently did a quick check of the Jefferson County 2-4 unit market stats of Available, Under Contract and Sold properties. There 36 Duplex, Triplex and Fourplex properties listed as Available or Under Contract with a whopping 44% listed as Under Contract. Of the 20 active, most have been on the market for a bit and have some sort of issue that has kept them from moving.

The lack of inventory has caused the number of sales to fall behind last year’s pace. This year there have been approximately 32 Sales of 2-4 unit properties since Jan 1 versus 2011 where sales were accelerating sales number and had reached about 53.

The full first half review of the Small Income Property sales will be available between July 10-15.

R U kidding?

I was at a restaurant this weekend and over heard this question while passing through the bar, “is it a good time for me to refinance?” I slowed down to hear the response but the person answering had started in with a discourse about markets, Europe and who knows what else. I thought to myself that I should rudely and loudly interject, “Are you kidding?”

I realize that this person’s personal situation may not make it feasible, such as he refinanced in the last year or maybe he cannot qualify right now. But the answer should be enthusiastically – “Yes!

Average U.S. rates on 30-year and 15-year fixed mortgages have fallen to record lows for the sixth straight weeks.

Freddie Mac reports the average rate on the 30-year loan dropped to 3.67 percent. That was down again from 3.75 percent last week and the lowest since long-term mortgages began in the 1950s. They have been below 4% since the start of the year.

The 15-year mortgage is below 3%!

R U kidding? If you can - REFI!!!!

Biz Week Record Low Mortgage Rates