Stapleton Rowhome For Sale

Colorado Foreclosures Fall To 42-Month Low

Stapleton Home Collection 2011 Video

2011 Home Collection from Stapleton Denver on Vimeo.

Stapleton Denver Real Estate Market Report For October 2011

Federal Reserve

The Federal Reserve signaled to Wall Street and the housing market on November 3, 2011 that they are considering buying additional mortgage backed securities to aid the sluggish housing market.  The Federal Reserve and Chairman Ben Bernanke understand that housing has led the way out of previous recessions and must be supported.  A normal real estate market, which seems like an oxymoron, helps create jobs and enhances additional spending in the broader economy.  So, we can expect additional aid from the Federal Reserve should the economy continue to stumble.

Interest rates have been bouncing around historic lows for several weeks now.  Low mortgage rates provide home buyers with tremendous pricing power that most generations will never see.  With today’s rates in the high threes to mid-fours, pales in comparison to the whopping 14.96% that my parents paid in the summer of ‘82 for their humble bungalow in rural Ohio.  To put it in perspective, today's mortgage at approximately 4.5% for a $300,000 home would cost you approximately $1,975/month; whereas, a $300,000 home with a mortgage at 6.5% would cost approximately $2,351/month.  The two additional points on your interest rate increases mortgage payments an extra $376 per month, but what is more jaw dropping is that you pay an estimated $150,000 more over the 30-year mortgage.  

According to the National Association of Realtors (NAR), 32-36% of the home buyers in the marketplace are first-time home buyers.  Given that rents have continued to rise, more buyers are coming off the sidelines to purchase a home at bargain basement prices.  Many buyers think that they are buying near the bottom, as well as the bravely optimistic that believe we are beginning the ascent out of doldrums of the “Great Recession.”  Many buyers have voiced concerns that interest rates cannot stay this low for too long.  Regardless, the first-time home buyer is active in the real estate market today.

In a recent article in the Wall Street Journal, the largest national home builders reported that sales are growing and prices are stabilizing.  The Commerce Department reported this week that new-home sales grew 5.7% in September.  As noted before, the combination of low interest rates and declining home prices has sparked the interest of the weary consumer.  The National Home Builders Association noted that builder confidence is on the rise as well, which is another positive note for the real estate market.

Compared to 2010, there was one less home sale in Stapleton and the average price per square foot in October 2011 was $186/sf, compared to October 2010 which rested at $191/sf.  So home sales in October 2011 dipped slightly on a price per square foot basis, but the previous two months home sales volume was up on a year-over-year basis.  Below are the results for October 2011 home sales in Stapleton, according to Metrolist MLS. 

Type	Address	Baths	Beds	SF	PSF	Builder	Model	Sale Date	Sale Price
Condo	10532 E 29TH Dr	3	3	1,463	$128	NEW TOWN	DAHLIA	10/21/11	$187,000
Condo	2937  CENTRAL PARK Blvd	3	2	1,438	$170	McStain	Clarkson	10/5/11	$245,000
Condo	8719 E 25TH Ave	3	2	1,438	$175	McStain		10/12/11	$252,000
Condo	2935  WILLOW St	3	3	2,197	$148	John Laing	Paired Homes	10/14/11	$325,000
	Average PPSF Condo				$155
Res	2236  UINTA St	4	4	1,467	$235	Wonderland	Eaton	10/5/11	$345,000
Res	7738 E 25TH Ave	3	4	1,695	$211	Wonderland		10/25/11	$357,500
Res	3428  AKRON Ct	3	3	1,670	$215	KB HOMES	MARTHA STEWART	10/3/11	$359,000
Res	2928  FLORENCE St	4	3	1,631	$223	KB HOMES	ALCOTT	10/17/11	$364,000
Res	7890 E 26TH Ave	4	4	1,788	$221	New Town	Fillmore	10/19/11	$395,000
Res	8741 E 29TH Ave	4	4	2,660	$153			10/14/11	$405,959
Res	3455 N BEELER Ct	3	3	1,942	$211			10/21/11	$409,500
Res	2716  GENEVA St	3	4	2,439	$181	MCSTAIN		10/28/11	$442,500
Res	8174 E 28TH Ave	4	3	2,691	$167	PARKWOOD	OXFORD	10/22/11	$450,000
Res	2950  EMPORIA Ct	4	4	2,160	$208	NEW TOWN	MONROE	10/21/11	$450,000
Res	8421 E 21st Ave	3	4	2,392	$190	Parkwood	Chesapeake 4	10/18/11	$454,427
Res	2656  GENEVA St	5	5	2,851	$177	McStain	Willow	10/28/11	$505,000
Res	9030 E 29TH Ave	4	4	2,856	$186	Parkwood	Oxford	10/26/11	$532,000
Res	2674  DAYTON St	4	4	3,288	$165	Parkwood	Veranda	10/13/11	$542,000
Res	9052 E 35TH Ave	4	5	2,944	$187	Parkwood	Oxford 4	10/19/11	$551,000
Res	7907 E 24TH Ave	8	5	4,471	$216	NUWEST	Parade of Homes	10/17/11	$966,800
	Average PPSF Single Family Home				$197

*Data gathered from Metrolist MLS.