Commerce City, CO Real Estate News

By Jeremy Ridley
(Great Way Real Estate)
The housing market can be quite different depending on the location you are inquiring about. There are many reports that will talk about National news and averages, State news and averages, and City news and averages. Where are the reports that will tell me what is going on in my neighborhood? Commerce City is like many cities which has an older and newer part of town, but what is unique is that the older and newer part of town are miles apart. Many feel that the newer part of Commerce City should have its own name. The home values and trends have a vast difference between the old part of Commerce City and the new part of Buffalo Mesa. So taking market reports or trends from trusted resources that give statistics on a general demographic such as Commerce City as a whole, will not give a...
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By Jeremy Ridley
(Great Way Real Estate)
The housing market can be quite different depending on the location you are inquiring about. There are many reports that will talk about National news and averages, State news and averages, and City news and averages. Where are the reports that will tell me what is going on in my neighborhood? Commerce City is like many cities which has an older and newer part of town, but what is unique is that the older and newer part of town are miles apart. Many feel that the newer part of Commerce City should have its own name and many do refer to the new part of Commerce City as Reunion Colorado. The home values and trends have a vast difference between the old part of Commerce City and the new part Reunion Colorado. So taking market reports or trends from trusted resources that give statistics on...
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By GARY DIGIORGIO -Denver- Arvada -Westminster, REOptions LLC
(THE DIGIORGIO GROUP /(303) 898 - GARY (4279))
Yes...you read correct. I'm looking for someone ...looking for a short sale on this cold Colorado day. A buyer that is ready to close. We have our approval letter just need a buyer....ready and able  SHORT SALE IS APPROVED !!!! AT 239K - WITH 2500 SELLER PAID CLOSE COST- ALMOST NEW -2 STORY - GREAT VALUE - LARGE ROOMS - LARGE LOT-QUICK POSSESSION- 3 CAR GARAGE-SIDE LOAD-IN EXCELLENT AREA- THIS IS ONE OF THE NORTH'S BEST VALUE ..PLEASE CALL OUR - 24 / 7 - FREE INFO LINE- ...877 318 7334 X 604 Take a look at this homes web site !!!!  http://17463e98thway.bestpricedhouse.com/Gary DiGiorgio The DiGiorgio Group 9035 Wadsworth pkwy 2000 Westminster.Co 80021 Direct 303 898 4279 Office 303 422 5200 fx 303 467 0211 Gary@Di-DenverRealty.com        
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By Shirley Cicero
(Coldwell Banker North Metro)
 16421 E 96th Pl, Commerce City, 80022 4 Bedrooms / 3 Baths $275,000  (lived in 2 months and job forces move from area) Beautiful former Russell model by Richmond located across from open space. Every upgrade, cherry flooring, cabinets, s/s appl, washer/dryer, professionally landscaped front & back, fenced, huge mastdr and 3 addl bedrooms, full bath and laundry up. Study is also 5th bedroom on main - closet behind bookcases and 3/4 bath adjacent to study. Close to school, walking path, DIA. Surround sound, burgler alarm and so much more. All warranties still apply. Total SqFt All Lvls 2237 Basement SqFt: 0 Total Finished SqFt: 2237 Lower Level SqFT: 0 Finished SqFt w/o Bsmt: 2237 Main Level SqFt: 1119 Upper Level SqFT: 0 Addl Upper Lvl: 1118 # Garage Spaces: 2 Garage Type: Attached Gara...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 9 - Scrapes, Pops and New Construction This blog will discuss a type of real estate investment, scrapes, pops and new construction, in the Commerce City area in Denver.   What this investment is:  Purchasing a small home in an expensive neighborhood that may or may not need work.  The home is bulldozed and a new home or duplex is put on the lot.  Alternatively, the existing home is renovated and more square footage is added on.  A pop-top is adding a second story to an existing home to add more square footage (commonly, a master bedroom suite).   Equity needed:  Being able to document your income and your assets will be critical.  For a commercial loan, your net worth should generally be at least as much as the loan you are seeking.  The good news is that the co...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 8 - Condo Conversions This blog will discuss a type of real estate investment, fix and flips, in the Commerce City area in Denver.   What this investment is:  A synthesis of the fix and flip and rental operations - purchasing an apartment building in a neighborhood dominated by owner occupants, then converting the building from apartment building to condominium.  Often requires renovation of the units to meet the expectations of owner-occupant buyers in that area.  Complex and time consuming, but has wonderful tax advantages compares to fix and flips and often has superior returns to all other asset classes.  Ideally suited for the sophisticated investor with extensive experience.    Equity needed:  Being able to document your income and your assets will be crit...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 7 - Fix and Flips This blog will discuss a type of real estate investment, fix and flips, in the Commerce City area in Denver.   What this investment is:  Purchasing a home that needs work.  The scope can range from the basic "paint and carpet" to extensive overhauls to scraping a decrepit property and completely starting over.  Usually does not involve tenants, and the objective is to get in and out of the property as quickly as possible.  Great for beginners with the right skill sets or the willingness to learn.   Equity needed:  With hard money loans (defined in next paragraph), potentially 0% and they'll finance the construction costs, too.  Expect a LOT of strings to be attached.  A small local lender might give you 75% of the purchase price and the renovat...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 6 - Lease Options This blog will discuss a type of real estate investment, lease options, in the Commerce City area in Denver.                        What this investment is:  A lease option (L/O) is Acquiring control of a property (though not necessarily ownership), then leasing the property to a tenant.  The lease is bundled with an option, so the tenant can (but does not have to) purchase the property for a given price within a given time frame.  Again you are seeking a tenant for a property, but usually for a slightly longer term (12-18 months) and frequently (though not always) with the goal that the tenant purchase the property from you at the end of the lease.  If you purchase the property, then it's an easier process; if you find a highly motivated selle...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 5 - Large (5+ unit) Apartment Building This blog will discuss a type of real estate investment, large apartment buildings, in the Commerce City area in Denver.   What this investment is:  Still targeting tenants for 6-12 months at a time, buildings with more than five units are considered "commercial" property.  The loans are more difficult to qualify for, and usually a larger down payment is needed.  Uncommon for the new investor; this is usually what landlords with several years of experience "trade up" to.  Cash flows on larger buildings are more stable than for smaller buildings, and the economies of scale make it practical (and desirable) to hire a property manager to take over most the work for you.  This takes reduces the hassle factor of the landlord pro...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 4 - Small (2-4 units) Apartment Building This blog will discuss a type of real estate investment, small apartment buildings, in the Commerce City area in Denver.   What this investment is:  Purchase of duplex, triplex or quadplex to be rented to tenants, usually for 6-12 month terms.  Usually what the rental home / condo landlords graduate to.  In most markets they cost a little more than a rental home, but are much more likely to cash flow on the average month.  Less cash flow risk; if one unit is empty you have other tenants that still help you with the mortgage payment so it doesn't all come out of your pocket.  Many owners will start to delegate some of the property management tasks to an on-site assistant (typically the most responsible tenant), such as yar...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 3 - Rental Condo or Rental Home This blog will discuss a type of real estate investment, rental condos or rental homes, in the Commerce City area in Denver.   What this investment is:  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 than for larger rental buildings.  The purchase process and financing process is very similar to what you experienced buying the home you live in now.  It's a great way for beginners to get started.   Equity needed:  Currently 20% - 25% Downpayment.  In some cases you might be abl...
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By Brandon Gill
(Your Castle Real Estate)
Investing in Real Estate 2 - Assignments This blog will discuss a type of real estate investment, assignments, in the Commerce City area in Denver.   What this investment is:  An investor who is interested in Assignments gets a property under contract for an attractive price then assigns the contract to another buyer, usually another investor.  The first investor will be paid a fee for the work.  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.    Equity needed:  None, just earnest money.   Importance of credit:  Not important, since you are not purchasing the property yourself.   Importance of experience with ...
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By Brandon Gill
(Your Castle Real Estate)
Take a look at the first page, for AUN (Aurora North).  Note these positive market trends this year:-          number of active listings steadily declining-          average list price pretty stable (finally!)-          U/C up dramatically-          Number of sales / month up (partially seasonality)-          DOM dropping-          Stability in average sold prices and sold price as % of list-          Sold price as % original price UP a lot - banks are getting better at pricing-          Number of expired listings down Every indicator is improving this year in AUN.  You will see the same trends in DSW (southwest Denver  County), but not as marked an improvement as AUN. By contrast look at DSE (southeast Denver County).  -          listings are up (they should be - seasonality)-         ...
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By Brandon Gill
(Your Castle Real Estate)
Topic:  Special considerations for Investor loans The talk around the water cooler these days is all about LOANS. Who can get them? At what price? What if I already have a few loans, do I still qualify?  A year or two ago the question was at what price do I get a loan (those were the days!).  Today it is "am I still in the game?"       Here's the deal:  if you have an owner occupied loan and 3 investor loans you cannot buy any more properties and get Fannie Mae / Freddie Mac financing, meaning you can't get a conventional 30-year fixed loan. Now, my hope is that someone reads this and tells me I'm wrong. That would be great!  But as far as I know that is the case.      Where does this leave you?  You can pursue loans that are warehoused by lenders, meaning they are not sold on the backe...
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By Brandon Gill
(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 th...
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By Brandon Gill
(Your Castle Real Estate)
Recap of First Half 2008 Home Price Performance 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 half of 2008 was $275,000 vs. the first half of 2007 was $306,000: a 10% decrease. 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. The average price of a foreclosure dropped -6% to $168,000 in the first half of 2008. The average short sale was steady at $212,000. The average price of a non-distress sale decreased 5% to $352,000. Sales volume was down for single family homes. Foreclosure and short sale volume is up and non-distress s...
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By Brandon Gill
(Your Castle Real Estate)
Recap of First Quarter 2008 Home Price Performance 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%, to $311,000. The first quarter of 2008 was $278,000 vs. the first quarter of 2007 was $296,000: a 6% decrease. Note that prices in the first quarter are usually a bit less than the rest of the year. This is because families that tend to purchase larger, more expensive homes tend to move in the summer months when their kids are out of school. The average price of a foreclosure or short sale dropped -3% to $188,000 from 2006 to 2007. The average price of a non-distress sale increased 5% to $370,000. Sales volume over the last twelve months ...
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MetroBrokersIPTV: Welcome to Metro Brokers TV and we are at a Habitat for Humanity project here in Commerce City, Colorado and I am talking with Michael Amoroso and welcome Michael.Michael Amoroso: Thank you.MetroBrokersIPTV: Hey, we are surprised to see all the work and help here and actually the real quality of construction that is going on in this project.Michael Amoroso: Well, it is always kind of uplifting to have volunteers coming out here that have never really done anything like this before and especially when we are hitting record heat today as far as day in the 90s I believe and they are still paying attention to detail and getting the job done and keeping us on schedule.MetroBrokersIPTV: Now, how long have you been with Habitat for Humanity?Michael Amoroso: I have been worki...
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MetroBrokersIPTV: This is Metro Brokers TV. We are at the Habitat for Humanity project here in Commerce City and I am with Metro Broker Anthony Rael and welcome Anthony.Anthony Rael: Great to be here Mark.MetroBrokersIPTV: Hey, great talking with you earlier. I understand you work out of the Metro Brokers office up in Northwest.Anthony Rael: That's right. That is off of 64th and Ward Road, Metro Brokers - Anthony Rael & Associates.MetroBrokersIPTV: So, have you worked on Habitat for Humanity projects before?Anthony Rael: Yes, I have. I worked on a humanity project about two years ago out in Arvada and it was very fulfilling. We are always there for our customers, working very hard, but it seems like we need to give a little bit more back to the community. So, those of you that haven't ...
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MetroBrokersIPTV: This is Metro Brokers TV and we are at the Habitat for Humanity project here in Commerce City, Colorado and I am with Barb Figal and welcome Barb.Barb Figal: Thank you.MetroBrokersIPTV: Tell me about your relationship with Metro Brokers, which office you work out of, and what you do for Metro.Barb Figal: I am at the corporate office. I have been there for about five years and I am the membership director.MetroBrokersIPTV: Excellent and I see you did a fine job recruiting some of our members out here today.Barb Figal: Yes, we did.MetroBrokersIPTV: So, what have you been working on today?Barb Figal: I have been painting upon a scaffold.MetroBrokersIPTV: Have you volunteered for any other Metro Brokers activities before like this?Barb Figal: We work the golf tournament. ...
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