Vacancy rates is data showing the amount of rental properties that are not occupied, or vacant.  The graph below shows Metro Denver Vacancy Rates for the first quarter of 2010.  Denver Vacancy rates were at 9% in the second quarter of 2009, they are at 6.5% currently.  Lower vacancy rates means more cash flow for investors and greater property appreciation.  Now is the time to look at Denver Multi-Family properties, Contact Me for more info on how to get started.

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Results were just released for the Denver real estate market this past week. The main points were as follows:
Historically speaking, inventory is down, we don’t have a lot of options, especially in the sub 250k range, this market is red hot!! $250-350k is very good as well.
Buyers are competing vigorously for the homes that are available. The number of Under Contract listings is +19% from this time last yr, even though the inventory is unchanged. I attribute most of this to the tax incentives that are in place for a few more weeks.
Regarding the tax credit, you must be under contract by the end of April, close by the end of June. The more expensive the home, the better the deal will be.

Stats: Denver Single Family Homes (Residential & Condo)
Under Contract listings were at 5,907 units
That is up 34% compared with month prior, and up 22% compared to March 2009.

Sales Volume totaled 3,602
That is up 48% compared to the last month, and up 12% compared to March 2009.

Year to Date sales volume totaled 8,391 compared to 8,159 units sold in 2009, an increase of 3%.

It is no secret the first-time homebuyer tax credit, along with the “move up” credit, valid for current homeowners that have occupied their existing home for 5 of the last 8 yrs, is putting a huge spark into the national real estate market. Locally, we are seeing bidding wars on properties priced correctly and in good condition, something we haven’t seen since the collapse towards the end of 2008.

Interested to know what your house is worth, what the average days on market until a sale is? Contact Me for a no obligation CMA (competitive market analysis).

Brian MacMillan

In an effort to improve access to their new Louisville, Colorado campus, ConocoPhillips purchased 9355 and 9255 Paradise Lane for $2.64 million and $1.6 million respectively, according to Boulder County public records.

The Boulder County Business Report wrote an article last week discussing these two new purchases, and the Daily Camera had an article yesterday discussing it as well.

I can say there is quite a bit of speculation that the Houston-based energy giant is considering their recently purchased Louisville, Colorado real estate for their headquarters.  Company spokespersons have been very vague in discussing the new Louisville real estate purchases, leading to the current speculation.

For current Louisville Real Estate for Sale, Contact Me for more info.

I’ve decided to put together a list of my favorite Boulder Restaurants/attractions, through photos, for anyone traveling to Boulder, Colorado and interested in a unique meal or relaxing in the Pearl Street Mall area of town. Contact Me for more info on Boulder Real Estate For Sale, or suggestions during your stay. Please feel free to search the Boulder MLS on your own too.

This past weekend the Denver Post had a great article discussing the current Denver Multi Unit/Apartment market. Essentially the main points discussed were Denver Multi Unit Rents are 38% higher than inflation, and Denver vacancy rates are their “lowest level since the third quarter of 2008, when it was 6.5 percent, according to the Apartment Association of Metro Denver and the Department of Local Affairs Division of Housing.”

Rents for other types of property have not kept pace with inflation over the long haul: Office rents are only 4.21% over inflation, industrial rents are 7.15% over inflation. I don’t think you need to be a mathematician to see the benefit of Denver Multi Units coming in at 38% over inflation right now.

“With population growing at a faster rate than apartment construction, it’s likely Denver’s vacancy rate will continue to fall. Apartments also have lower property taxes than other types of real estate.”

“I feel a good strategy moving forward is to buy Denver Multi Units for sale, in ideal locations, and hold them until the condo market starts to turn. Until that time, you’ll have significant cash flow that you can put towards a Denver Condo Conversion when the market dictates.” Brian MacMillan

Feel free to browse Denver Investment Properties For Sale here:

For more info on the Denver Multi Unit market, or Denver Multi Units For Sale, Contact Me.

Brian MacMillan

2429 W 24th St Rd, Greeley CO, 80634

5 beds, 1 full 1 part baths
Size: 2,028 sq ft
Lot Size: 8,276 sq ft
Added: 12/03/09, Last Updated: 12/03/09
Property Type: Detached Residential
MLS Number: 612614
Community: Greeley
Tract: Brentwood

5 Bedroom, finished basement. Move-in Ready. Great Rental or First Time Home Buyers! Listed with Century 21 Humpal Inc

620 Mathews Way, Erie CO, 80516

4 beds, 2 full 1 part baths
Size: 2,262 sq ft
Lot Size: 0 sq ft
Added: 12/03/09, Last Updated: 12/03/09
Property Type: Detached Residential
MLS Number: 609461
Community: Erie
Tract: Canyon Creek

Fabulous family home with 4 bedrooms, loft and study. Gourmet kitchen and upper level laundry. Located in Boulder County. Can still choose interior options and move in by the end of the year. Below Market Financing with 2-1 buy-down and closing cost assistance available if contracted before Oct 4, 2009. Listed with Elite Realty Group

6667 Apache Ct, Longmont CO, 80503

6 beds, 0 bath
Size: 4,184 sq ft
Lot Size: 0 sq ft
Added: 12/03/09, Last Updated: 12/03/09
Property Type: Detached Residential
MLS Number: 609172
Community: Longmont
Tract: Morton Heights 4

THIS FANTASTIC PROPERTY WITH SPACIOUS 6 BED AND 4 BA WILL DELIGHT BUYERS LOOKING FOR SECLUSION IN ONE OF NIWOT’S BEST NEIGHBORHOODS. ADDENDUMS NOT REQ’D UNTIL CONTRACT ACCEPTANCE.SUBMIT *LENDER LETTER OR PROOF OF FUNDS & EARNEST MONEY COPY MADE OUT TO TBD W/OFFER VIA OFFICE WEBSITE & OFFICE E-FAX.* PRE-APPROVAL REQ’D W/PREFERRED LENDER.PLEASE ALLOW 3-5 BUSINESS DAYS FOR OFFER RESPONSE. Listed with Colorado Investors R.E. Svcs.

7507 Plateau Rd, Greeley CO, 80634

4 beds, 2 full 2 part baths
Size: 4,095 sq ft
Lot Size: 0 sq ft
Added: 12/03/09, Last Updated: 12/03/09
Property Type: Detached Residential
MLS Number: 558854
Community: Greeley
Tract: Poudre River Ranch

Exquisite is not a typical word to describe a home. It typically is reserved for only the best, and this home is it! Simply gorgeous doesn’t give enough credit to this custom built ranch with a finished walk-out basement! Second laundry facilities in the basement. Four bedrooms and an office or 5 bedrooms, dual walk-in closets in the master four bathrooms, amazing finishes, granite throughout, 2 fireplaces, mountain views, 3-car garage and an amazing water feature. Listed with Sears Real Estate

1506 N Lincoln, Loveland CO, 80538

0 beds, 0 bath
Size: 0 sq ft
Lot Size: 6,969 sq ft
Added: 11/26/09, Last Updated: 12/03/09
Property Type: Sale: Commercial/Industrial
MLS Number: 614618
Community: Loveland
Tract: Turney- Briggs

Prime location for business on Highway 287. Currently used as a beauty Salon but the tenant is vacating 12/31/09. Open floor plan has 940 sq ft on the main level with 700 sq feet of storage in the basement. Parking spaced behind the building. Owner will finance with 20% down. Listed with Group Loveland