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January 2019 Market Statistics

January 2019 GraphicFinally, some good news for buyers? Overall sales are down year over year and prices have increased by 8% but the number of new listings is up by 14% and the weeks of inventory has increased by 2 full weeks to 8 weeks of total inventory. Check out the statistics and the youtube video at https://youtu.be/u1jA0marC0I

Coming Soon in the Bear Creek Valley – 10311 W. Girton Dr #103

49_50_51_52_53_54_55Enhancer_1Wow! Superbly upgraded, main level Condo in the heart of Bear Creek. A fantastic floor plan with granite tile counters and backsplash, 42″ cherry cabinets, and stainless appliances. One car detached garage and a separate reserved parking spot directly in front of the unit. Gigantic master bedroom with huge walk-in closet and spacious bath. Additional (basically second master) bedroom on the opposite side of the unit with large walk-in closet. An exceptionally well maintained home in a desirable community. Storage unit on the covered patio. Don’t forget to take a look at the private pool area. Area is surrounded by a wetlands preserve with ponds, a creek, and walking trails. An easy walk or ride to the Bear Creek Trail, Homestead Golf Course and award winning Bear Creek Schools!

Call me with any questions or to schedule your own private showing.

Brian K. Grace

(303)916-7737

Coming Soon in Park Hill – 1582 Fairfax St

IMG_20130402_145429_959Coming soon to the market in Park Hill – 1582 Fairfax St., Denver, CO 80220! This storybook 2 Bedroom, 1 Bath Park Hill Tudor blends old-world charm with many of the modern conveniences of today. From the covered front porch to the gleaming hardwood floors, you will cherish the simplicity of this open and bright floor plan. Enjoy the spacious, upgraded kitchen, with stainless steel appliances and under cabinetry lighting. The partially finished basement makes the perfect TV viewing area. The remaining portion of the basement awaits your finishes and design. Don’t forget to relax and enjoy a drink outside while sitting on the newly completed composite deck. Don’t miss this fantastic opportunity to locate within walking distance of The Elm, and other historic Colfax restaurants and shops!

Call me with any questions or to schedule your own private showing.

Brian K. Grace

(303)916-7737

Coming Soon in Heritage West – 11475 W Atlantic Ave

11475 W Atlantic AveComing soon to the market in Heritage West – 11475 W Atlantic Ave Lakewood, CO  80227!  This stunning, 2 story,  Celebrity Custom home features 5 bedrooms, 5 bathrooms,  a fully-finished walkout basement and a 3 car attached garage.  The upper level boasts a beautiful master suite with 5 piece bath and large his and hers walk-in closet, a Jack-n-Jill bath separating two additional bedrooms and a private 4th bedroom including it’s own 3/4 bath.  The main level shines with refinished hardwood flooring, new carpet, a sun-filled home office with built-ins, gourmet kitchen with granite, and a large great room.  The walkout basement has an additional bedroom and 3/4 bath, large entertainment area, and separate exercise room.  This home has it all!  Look for it to hit the MLS sometime around Thursday.

Call me with any questions or to schedule your own private showing.

Brian K. Grace

(303)916-7737

August Trends

 DenverTrends082012

 

Here is a link to the Denver Metro Area Trends for the month of August 2012.  Much thanks to Fidelity National Title, and Jim Cimino for the valuable work they do.  And, a special thank you to Garold D. Bauer for his compilation of the data and his expert analysis.

 

 

 

 

Interest Rate Chart

Below is an interest rate chart from Julie Whalen with Guild Mortgage.  Rates are currently as low as they’ve ever been and if you’re “on the fence” about buying you should consider taking advantage of these historically low rates.

Interest Rate Chart

Interest rates to rise as QE2 ends, economist warns in Denver

Here is a great article from a recent issue of The Denver Post.  It suggests that interest rates could begin to rise as the Federal Reserve wraps up it’s Quantitative Easing (QE2) program.  This indicates that now is a great time to consider selling or a buying a home.

Prepare for higher interest rates as the Federal Reserve ends its program of purchasing U.S. Treasurys next month, warns Wells Fargo Securities chief economist John Silvia.

Higher interest rates will put added pressure on a struggling housing market but in themselves shouldn’t derail the recovery, said Silvia, speaking at a 2011 Economic Outlook for bank clients Wednesday morning in Denver.

“If the Fed stops buying, it will be a tough situation,” Silvia said of the coming end to the central bank’s second round of quantitative easing, also known as QE2.

Silvia predicted that Treasury rates could rise by one- half to a full percentage point but in a moderate way and not resembling the big moves seen in the 1970s.

“This isn’t Jimmy Carter, but you can see where the numbers are going,” he said.

Higher rates on government debt will spill into the mortgage markets.

The average rate on a 30-year mortgage last week was 4.76 percent, according to the Mortgage Banker’s Association.

Despite that low level, mortgage applications remain anemic and home prices continue to fall in most areas.

“If you can’t sell a house now, what will you do if mortgages rates go up 100 basis points (1 percentage point)?” he asked.

Higher rates are needed to make up for the Federal Reserve’s reduced involvement. Compounding the lack of demand, China and Japan, the two largest foreign holders of U.S. debt, are seeking more diversification in their holdings.

Bill Gross, who oversees the nation’s largest fixed-income mutual fund at PIMCO, has sold off his holdings of U.S. Treasurys and is urging investors to do the same.

When the Fed stepped back last year, growth slowed and stock markets fell, resulting in further quantitative easing.

Wells Fargo Securities is predicting growth in U.S. gross domestic product of 2.4 percent this year and 2.8 percent next year, driven by strong business investment, rising U.S. exports and modest consumer spending.

Silvia predicts that gasoline prices could rise another 10 to 20 cents a gallon through Memorial Day and early June, taking an additional bite out of discretionary spending.

Higher fuel costs also could reduce the number of people jumping in their cars to visit Colorado this summer.

“The number of visits may be less than expected,” he said.

Read more: Interest rates to rise as QE2 ends, economist warns in Denver – The Denver Post http://www.denverpost.com/business/ci_17995220#ixzz1Nxlq6EPj
Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse

Denver Metro Real Estate Statistics March 2011

The latest Denver Metropolitan Real Estate statistics for the month of March, 2011 are in!  Overall, it looks like inventory is up about 3% over the month of February and sales prices have risen by about the same percentage to $249,644 (combined Residential and Condos).  The average sold price for Residential is at $273,877 and $159,853 for Condominiums.  Unfortunately, it looks like the amount of properties place under contract in the month of March decreased by about 3.30% compared to February 2011 and decreased by almost 40% from March 2010.  However, it’s very important to note that the First Time Homebuyer Tax Credit in 2010 was set to expire April 30, 2010 and as a result there was a great deal of “increased” activity taking place this time last year as buyers were scrambling to get under contract by the end of April.  Overall, I feel like these numbers are encouraging, if ever slightly, and it feels like there has been an increase in activity as of late.  We’ll have to wait and see how much of this increase in activity is simply seasonal and how much of it is driven by an increase in confidence while unemployment is slowly improving and mortgage rates are still very attractive.   Just this week 4 new properties have hit the market in my neighborhood as sellers are sprucing up their properties in hopes of taking advantage of the spring/summer buying season.  I feel like it’s a great time to be buying or selling a home in the Metro area and would love to assist you with your transaction.  Call me anytime at (303)916-7737 or email me at bgrace@mbpros.net

How and Why do Mortgage rates move?

Have you ever been curious about how and why Mortgage rates move?  Well, there are many factors that influence these rates and here is a short video that describes them in basic detail.  It’s anyone’s guess as to where rates are headed for 2010 but the consensus seems to be that they will begin to edge up throughout the year.  With the economic disaster closely behind us and the extreme amount of money that has been pumped into the economy to shore it up, it seems only logical that we will need control inflation in the months and years to come.  That usually means a rise in interest rates.  If you or someone you know is considering buying or selling a home I would love to help them.  I think this is an excellent time to purchase a home and take advantage of the historically low mortgage rates.  Plus, time is running out to take advantage of the $8,000 first-time homebuyer tax credit or the $6,500 move-up tax credit.  I work closely with several very reputable lenders and would be happy to pass along their contact information if you you are considering a purchase.  Please contact me today while rates are still very low.

Hello and Welcome to my Blog

My name is Brian K. Grace and I live in Lakewood, Colorado.  I’m a Realtor with Market Masters Real Estate which is an independent company operating under the Metro Brokers umbrella.  I’d like to give you a little background about why I have decided to start this blog and also give you an idea of what I intend to blog about.

As most everyone is fully aware, our Nation’s economy and more importantly, our local economy has been facing some definite challenges that have had a tremendous impact on our lives and the lives of our families.  My family and my business is no exception.  These are unprecedented times and the likes of which many of us, depending upon your age, have never witnessed firsthand.   It’s almost impossible to pick up the local newspaper or turn on the television without hearing about how bad our economy is and how many people have lost their jobs.  And for me specifically, it’s tough to stay positive about my own business and my own employment since many people blame my industry as the major reason for this economic tragedy.  Perhaps they are justified?  At any rate, I love what I do and I take great pride in helping individuals and families navigate the complex Real Estate environment.  It’s nice to be in an industry where you can help these folks either sell their home, buy another home, or both and know that you’ve truly made a difference in their lives and ultimately guided them through what will more than likely be the single most important financial transaction of their lives.

As I reflect upon my performance for 2009 and begin looking forward to 2010, I’ve asked myself a couple of questions.  How am I going to market my business in these difficult times?  What did I do in 2009 that was successful and will be successful again 2010?  Have I been a resource for my clients and have I added value to their particular situation?  What new trends should I look at implementing for the coming years?  And lastly, how is my industry changing and how can I be sure to stay ahead of the changes?

I’ve been extremely fortunate since beginning my Real Estate career and 2009 was no exception.  Apart from the ups and downs and cyclical nature of the business, I had a very prosperous and productive year.  I attribute that success to the relationships I’ve built with my co-workers, peers, mentors, friends, family members, and most importantly my clients.  I realize that it is these relationships that will be the key to my success in this business for years to come.  It is because of these relationships that I’ve decided to start this blog and become more of a resource for my clients.  The blog is just the beginning.  You will also be able to follow me on Twitter, LinkedIn, Facebook, and other social media outlets.  I am planning to author a quarterly or semi-annual newsletter too!  I’ve realized that if I’m nervous about the future of the housing market and I live and breathe this stuff everyday, I can’t imagine how nervous my current, past, and future clients are too.  So, as I educate myself on the latest Trends in the industry I hope to pass along that knowledge to you through this blog.  It will definitely be a learning experience and I will always be open to your suggestions for improvement or your suggestions for articles, topics, hints, and etc.  This is new and unchartered territory for me so, please be patient as I navigate this steep learning curve.  I’m sure I’ll make some mistakes so bear with me as I embark on this new challenge.  I regularly attend continuing education classes and seminars so that I can educate myself and stay on top of the latest trends and all of the experts tell us that we must embrace Social Media Marketing if we want to “thrive” in this new environment.  I hope that this blog will be an interactive forum and I welcome all of your feedback.

My goal is to post useful information at least once a week but as I become more proficient I hope to get the information to you more quickly.  Please keep your eye open for informative articles, market statistics, reliable contractors, great lending and mortgage advice, real estate investment info, neighborhood spotlights, and fun facts.  After all, what good is all of this if we can’t have fun?

I’d like to send a special “Thanks” to Chelsea Willis with Thrive Social Media for making this blog possible and to Jeff Boles for his fantastic photography that I plan to showcase in the header for this blog.  Thanks for following and enjoy.  Brian