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        <title>Denver Real Estate Blog</title>
        <link>http://www.bruceswedal.com/blog/tags/market/</link>
        <description>Denver real estate topics including local metro Denver community news and events.</description>
        <item>
            <guid>http://www.bruceswedal.com/blog/the-state-of-the-denver-real-estate-market-october-2009.html</guid>
            <link>http://www.bruceswedal.com/blog/the-state-of-the-denver-real-estate-market-october-2009.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>The State of the Denver Real Estate Market – October 2009</title>
            <description> <![CDATA[ 
Maybe you have not realized it just yet, but changes are upon us in the local metro Denver real estate market.&nbsp; October, 2009 has set some records in home sales, which on a broader scale indicates a shift in the market to one of recovery and strength.&nbsp; 

During October there were 4,910 home that were placed under contract while the previous record for an October was in 2005 with 4,839 homes.&nbsp; The majority of these sales have been under the $400,000 mark and driven by first time home-buyers.

What caused the crazy market?&nbsp; Well pent up demand from the previous year to start and the $8,000 tax credit to first time home-buyers also helped to push it along.&nbsp; The fact that the tax credit program has been extended and expanded to also include some existing home-owners just indicates that this trend is going to continue into 2010 and open up the higher end markets with existing home-owners taking advantage to move up.

It is said that real estate has a leveraged effect on improving the economy due to every dollar spent on real estate generates another four dollars in the service industries.&nbsp; Think about it because when a family buys a home they also need furniture, garage door openers, landscapers and the list goes on.



&nbsp;Year 

Under Contract&nbsp;

&nbsp;Number of Closings

&nbsp;1990

&nbsp;2069

&nbsp;2294

&nbsp;1991

&nbsp;2520

&nbsp;2364

&nbsp;1992

&nbsp;3215

&nbsp;3054

&nbsp;1993

&nbsp;3093

&nbsp;3348

&nbsp;1994

&nbsp;2439

&nbsp;3279

&nbsp;1995

&nbsp;2300

&nbsp;3186

&nbsp;1996

&nbsp;2842

&nbsp;3197

&nbsp;1997

&nbsp;2961

&nbsp;3578

&nbsp;1998

&nbsp;3528

&nbsp;3795

&nbsp;1999

&nbsp;2830

&nbsp;3824

&nbsp;2000

&nbsp;2821

&nbsp;4499

&nbsp;2001

&nbsp;2076

&nbsp;3882

&nbsp;2002

&nbsp;2306

&nbsp;3931

&nbsp;2003

&nbsp;2285

&nbsp;4292

&nbsp;2004

&nbsp;2731

&nbsp;4443

&nbsp;2005

&nbsp;4839

&nbsp;4174

&nbsp;2006

&nbsp;4715

&nbsp;4133

&nbsp;2007

&nbsp;4645

&nbsp;3848

&nbsp;2008

&nbsp;4504

&nbsp;4282

&nbsp;2009

&nbsp;4910

&nbsp;3958



Another factor to keep in mind during our discussion is that the population base in metro Denver from 1990 through 2007 has increased by 49% while the number of housing units failed to keep pace by only increasing 40%.

These factors have caused a depletion of the inventory in the metro Denver area.&nbsp; The existing home inventory represents the lowest number of homes on the market since October, 2001.&nbsp; That low inventory level and a high buyer demand has also created the highest sales rate since October, 2001 with 5.99% of the inventory of homes being placed on the market each week.&nbsp; That represents a 185% increase over the sales rate in October, 2003.


&nbsp;Year 

Sales Rate %&nbsp;

&nbsp;2001

2.48%

&nbsp;2002

2.24%

&nbsp;2003

2.10%

&nbsp;2004

2.42%

&nbsp;2005

4.26%

&nbsp;2006


3.66%


&nbsp;2007

3.71%&nbsp;

&nbsp;2008

4.50%

&nbsp;2009

5.99%&nbsp;


The number of unsold Denver homes on the market in October, 2009 was 18,945 which represented the lowest level of inventory since at least 2001.



&nbsp;Year 

&nbsp;Unsold Homes #

&nbsp;2001

&nbsp;19,319

&nbsp;2002

&nbsp;23,769

&nbsp;2003

&nbsp;25,181

&nbsp;2004

&nbsp;26,030

&nbsp;2005

&nbsp;26,828

&nbsp;2006

&nbsp;29,722

&nbsp;2007

&nbsp;28,928

&nbsp;2008

&nbsp;23,120

&nbsp;2009

&nbsp;18,945



The meaning behind the numbers is clear and can be seen from clients looking to purchase homes.&nbsp; In many Denver metro areas homes are receiving multiple offers after only days on the market creating competition during the purchase. 
 ]]> </description>
            <pubDate>Mon, 09 Nov 2009 00:06:06 -0700</pubDate>
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        <item>
            <guid>http://www.bruceswedal.com/blog/visiting-denvers-landmarks-and-historic-sites.html</guid>
            <link>http://www.bruceswedal.com/blog/visiting-denvers-landmarks-and-historic-sites.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>Visiting Denver's Landmarks And Historic Sites</title>
            <description> <![CDATA[ 
Once in the city of Denver, a traveler or new resident is confronted with an astounding amount of things to do.&nbsp; These activities and attractions play a large role in why people choose Denver year after year as their&nbsp;destination of choice.&nbsp; One of the more interesting things to do&nbsp;in the city is to seek out and visit a number of the community's landmarks and historic sites.&nbsp; Many of these display and exhibit a good amount of detail relating to the early days of Denver.&nbsp; There are also plenty of modern day landmarks in the city too which are also worth visiting.

Here is a look at some of the landmarks and historic sites worth visiting in Denver.

Brown Palace HotelThe Brown Palace Hotel is a triangular shaped hotel that was built in 1892.&nbsp; This is the second oldest hotel in all of Denver, having been built just one year later than the Oxford Hotel.&nbsp; The Brown Palace Hotel has seen a great number of famous guests including the members of the musical group The Beatles, Elvis Presley, and a number of visiting royalty from foreign lands.&nbsp; The hotel has also hosted five United States Presidents; Theodore Roosevelt, William Taft, Warren Harding, Harry Truman, and Dwight Eisenhower.

Confluence ParkConfluence Park sits on the confluence of Cherry Creek and the South Platte River.&nbsp; This park is one of the many focal points of Denver's Lower Downtown area, referred to by locals as LoDo, and is also the original site where gold was discovered in 1858.&nbsp; This gold strike led to the city of Denver being founded and was a main event in attracting more Americans westward.

Red RocksHome of the world famous Red Rocks Amphitheatre, Red Rocks is a Denver-owned park that actually sits just over fifteen miles outside of the city limits.&nbsp; The natural rock formations found here would be amazing in their own right, but when viewed with some of the world's best musicians playing as part of a concert there, they are even more incredible.&nbsp; This natural amphitheater has hosted concerts since the early 1900s, and has offered a regular concert series since the 1940s.

Daniels &amp; Fisher TowerStanding at 325 feet tall, the Daniess &amp; Fisher Tower, known locally as the D&amp;F Tower, was the tallest structure built west of the Mississippi River when it was constructed in 1910.&nbsp; The store that surrounded the tower was later demolished, but the tower remains as a local landmark and currently is home to a number of downtown businesses.

Cathedral Basilica of the Immaculate ConceptionOne of the few cathedrals in the United States that has hosted a mass held by the reigning Pope, the Cathedral Basilica of the Immaculate Conception in Denver is a much revered religious site and also an incredibly interesting historical building.&nbsp; Construction began on the cathedral in 1902 and it remains to this day one of the most beautiful religious buildings in the American West.

Denver MintThis is a popular tourist attraction and interesting place to visit.&nbsp; Much about the history of coinage in the United States can be learned here.&nbsp; There is a great display of actual coins and currency, as well as a decent amount of antique money making equipment too.&nbsp; The Denver Mint is the largest producer of coins in the entire world.

Colorado State CapitolThe Colorado State Capitol Building was constructed in the 1890s and has served continuously as the home of the offices of the Colorado Governor and the Colorado legislature.&nbsp; The building is made of white granite that was found and quarried locally, but the most distinctive feature is the gold dome that sits atop the building.&nbsp; Tours are available of both the dome and the legislative area are available and are a worthwhile activity for anyone interested in history to take part in.

Richthofen CastleRichthofen Castle was completed in 1887 and carries a famous last name that is recognized by many military history enthusiasts.&nbsp; Baron Walter von Richthofen built this 35 room castle modeled after the original Richthofen Castle located in Germany.&nbsp; The Baron has a more famous relative, and his nephew Baron Manfred von Richthofen would achieve worldwide fame in the early days of flight as the actual Red Baron.

Wells Fargo CenterThe third tallest building in Denver has perhaps one of the most unique and personal architectural designs, especially when applied towards the company that the building is named after.&nbsp; The building rises to fifty-two stories tall, but near the top both sides start to arch inward and form a distinctive old time cash register shape., very fitting for a building tied to a financial institution like Wells Fargo.&nbsp; There is a skybridge that crosses the street and connects the building to a neighboring facility that offers both eating establishments as well as a small museum dedicated to the history of the Wells Fargo company.

Denver is a fascinating city to call home or visit, and some of that fascination can be experienced through visiting or seeking out some of the many landmarks the city has to offer.&nbsp; The landmarks listed here, as well as others that are also famous both locally and nationwide, all play a large part in making Denver what it is today, one of the United States' most interesting and fun cities to visit or live in.
 ]]> </description>
            <pubDate>Wed, 27 May 2009 20:32:04 -0600</pubDate>
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