Inventory is Down in Denver 42%

To all my Buyers out there - this is why it's been such a struggle to find that perfect house!  The article below is 'ripped' from MSN Real Estate....



   

Act now! 10 major housing markets with the shortest supply of homes

Denver #2

Decline in inventory: 42%
This mountain-high city never experienced the highs and lows in home values that its coastal counterparts did. And now, with rents rising and vacancy of just 2%, more apartment-dwellers are taking the plunge into homeownership, local broker Gary Bauer says.

This city's inventory in February was down 42% from the same period a year earlier, at just 10,086 units. The number of homes going under contract spiked 19% between January and February of this year as buyers raced to take advantage of low interest rates and relatively low prices.

"I'm not sure what magic thing happened in January, but buyers really came out," Bauer says.

Prices aren't falling as they are in many other markets, according to Metrolist. The average home price of $270,821 was up 2% from February 2011. Bauer says March looks to be another record month.

TO REMODEL OR NOT TO REMODEL?

My Father in law is doing quite well in independent living.  He's thriving I'm happy to report.  However, it is time to sell his home...just to pad his account a bit.  He is the original owner of this 1957 ADORABLE brick ranch home.  With my hubby in tow - we really gave this situation a ton of thought and tried our best to educate ourselves as to whether an update would give us an edge in selling this home.  We decided it would.  What an education this has been!!!  Interviewing multiple Contractors; negotiating price based on how much work we would do as well; reface vs replace cabinets; composite vs steel tubs; how much electrical updating to do; do we pull a permit?  You get the picture.  It's 60 days into the process and I'd say we're 3/4's of the way thru.  It's been arduous and Lowes/Home Depot now feel like home to me...those Associates now know me by name!  The house is going to be a wonderful home to show and list.  I'm glad we decided to go for it and do this.  Soon we will put pencil to paper and work out what we spent vs what we would like re-coup in a sale.....  Now to find the perfect PRICE!  OY!