IRE Group BLOG

July home resales in metro Denver were the best of any month yet in 2009, but still down from the same month of 2008, according to Metrolist Inc. data released Friday by member brokers. read more here

Denver was named America's No. 1 city on the verge of recovery from the real-estate slump in a segment Tuesday on NBC's "Today" show.  Real estate expert Barbara Corcoran, a regular guest on the show, said Denver more than any other U.S. city is "clearly on a rebound."  "It's really the perfect real estate success story," she said. "It had one of the highest foreclosure rates in the nation for years running, and now they've cut that foreclousure rate in half and they've turned the corner."  Denver, Corcoran said, has "a vibrant downtown, it has a high employment base, it has educated people, it has youth, [and] it has one of the biggest park systems in the country.  "Everything about Denver is pointing up, up up," she added. "Prices are moving up just now for the first time after seven years."

Rounding out Corcoran's list of cities poised for a real-estate rebound:

• 2. Raleigh, N.C.
• 3. Austin, Texas
• 4. Seattle
• 5. San Francisco

Corcoran said she included cities on her list on the basis of eight factors:

• Job growth potential;
• A growing population;
• Good weather;
• Lots of first-time buyers;
• No overbuilding;
• A vital downtown;
• A well educated population; and
• Foreclosures earlier than other cities.

Click here to watch Corcoran's "Today" show segment on cities on the verge of real-estate recovery

Here is the monthly comparison for the Denver MLS showing the change in Active Listings, Under Contracts & Solds.  It also shows the average list price, days on market and average sold price.  This will assist you in seeing the market with clear glasses knowing what has happened in the past month and also comparing it to the past couple of years.

View MLS Monthly Comparison

Your Home Is Worth More Than You Think!
When it comes to real estate, things actually aren't so bad here in Denver. Our guide to the myths and realities of the local market will show you why. Plus: How to refinance your mortgage, remodel on a budget, and rehab your IRA with real estate investments.
By Luc Hatlestad

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