Author Archives: Mitch Shannon

Available Inventory of Single Family Homes Trending Lower

Posted on October 19, 2011 by Mitch Shannon

In the midst of challenging economic times, an interesting trend has been developing in the Metro Denver residential real estate market, over the last year.  The supply of available homes in the metro area has been steadily declining.  Year over year comparisons, between 2010 and 2011, show a consistent reduction in the available inventory of single family homes (graph A), since January 2011. Equally compelling is the sold rate of single family properties, in 2011, when compared to the sold rate, in 2010 (graph B).  When analyzing the volume of sold houses between 2010 and 2011, it is evident the Home… Read More »

Posted in Denver, Denver Real Estate Market, For Buyers, For Sellers | Leave a comment

Denver Metro Rental Vacancies Fall to 2.6 Percent – September 27, 2011

Posted on September 27, 2011 by Mitch Shannon

According to the latest report from the Colorado Division of Housing, the overall vacancy rate of residential properties in the Denver Metro area has dropped to a historic low of 2.6%, in the second quarter of 2011.  The current vacancy rate of 2.6% is lower than the second quarter of 2010′s vacancy rate of 3.8%.  Additionally, the average days on the market fell from the second quarter of 2010, of 47.2 days, to an average of 15.7 days during the same time period in 2011.  While the rental market continues to tighten, residential rental rates have not yet seen a… Read More »

Posted in Apartment Rentals, Denver Economy, Denver Real Estate Market, Property Management, Real Estate Investors, Rentals | Leave a comment

Mitch Shannon Offers Property Management – July 29th, 2011

Posted on July 30, 2011 by Mitch Shannon

Mitch Shannon is now offering property management among the real estate services provided to his clients and referrals.   In today’s market, several clients have been requesting property management services to help them with their real estate needs and goals.  Mitch Shannon is providing full service property management, at very reasonable rates.  Property management services include: Rental Market Analysis and Pricing Tenant Credit Check, Screening and Application Advertising and Leasing Accounting and Bookkeeping 1099 Tax Reporting Maintenance and Repair Services Investor Consultation Whether you are wanting to rent your current home and take advantage of the great buying opportunities, being… Read More »

Posted in Property Management, Rentals | Leave a comment

FHA Policy Change Helps Unemployed Borrowers – July 25, 2011

Posted on July 25, 2011 by Mitch Shannon

The Federal Housing Administration, FHA, recently changed its policy concerning the forbearance period for unemployed borrowers, the Obama Administration announced this month.  FHA will require loan services to increase the forbearance time period to 12 months for unemployed borrowers trying to keep their homes while looking for work.  Additionally, the White House administration intends to require the same forbearance period for loan services and borrowers participating in the Making Home Affordable Program (MHA).  According to FHA:  ”Today, 60 percent of the unemployed have been out of work for more than three months, the minimum forbearance period in MHA’s current program…. Read More »

Posted in Credit, Foreclosures | Leave a comment

Under Contract Homes Increase for 2nd Month – July 11, 2011

Posted on July 11, 2011 by Mitch Shannon

For the second month in a row, the number of homes under contract (residential and condominium) has increased year over year.  Denver Metrolist, reports a 22.5% increase in the number of homes under contract, comparing June, 2010 to June, 2011.  A similar year over year comparison in May posted an increase of 23%.  Additionally, the Denver Metro area is also experiencing a decrease in the number of available homes, or unsold homes, by a decrease of 16.54%.  The residential real estate market is still challenging, but these are encouraging statistics.  

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Sales Success in Meridian Village – July 6, 2011

Posted on July 6, 2011 by Mitch Shannon

Meridian Village is one of Parker Colorado’s newest developments. Since its inception three years ago, new home sales continue to be strong, along with an emerging resale market, despite the slower real estate market and economy. Richmond American Homes, Meritage Homes and Esprit Homes are offering some great summertime incentives combine with historic low mortgage rates. Contact me today to maximize your buying power. For more information and to see homes for sale visit Meridian Village.

Posted in Douglas County, For Buyers, New Homes, Parker | Leave a comment

iPad Giveaway – Buyer Summer Promotion

Posted on June 20, 2011 by Mitch Shannon

Presented by Mitch Shannon of RE/MAX Masters, Inc. Ready to buy your next home?  Take advantage of today’s historic low mortgage rates, excellent housing prices and motivated sellers.  Rental vacancy rates are extremely low and many rental prices are higher than owning your own home.  Today’s buying power has never been better.  It is also a great time to make your next move if you are looking to up size or down size your home. Contact me today for more information and learn why it is an excellent time to buy a home!   It is simple and easy to win… Read More »

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Metro Denver Residential Inventory Decreases by 16% – June 17, 2011

Posted on June 17, 2011 by Mitch Shannon

From the statistics compiled by Denver MetroList (MLS), the month of May 2011 shows some very positive signs. The overall inventory of single family homes, residential and condos, has dropped over 16% compared to inventory levels in May 2010.
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Historic Lows Create an Excellent Time to Buy an Investment Property – June 2, 2011

Posted on June 2, 2011 by Mitch Shannon

A real estate investor’s “perfect storm” is emerging in the Denver Metro area.  With historic low interest rates and historic low vacancy rates, combined with a significant market adjustment in residential real estate prices, real estate investors are presented with a near perfect opportunity.  From an article by John Rebchook, current metro vacancy rates are hovering around 1.4% with an average of just under 30 days on the rental market, to find a renter.  Equally important mortgage interest rates are at historic lows, even for investor financing.  Investors with 20-25% down are able to cash flow their rental properties right… Read More »

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Colorado Foreclosure Rate Continues Downward Trend – May 18, 2011

Posted on May 18, 2011 by Mitch Shannon

The foreclosure rate in Colorado contintues to show improvement since the beginning of 2011.  According to the Colorado Division of Housing, both foreclosure filings and foreclosure sales were down, when compared to 2010.  ”In year-to-date comparisons, comparing the first four months of 2010 with the same period of this year, foreclosure filings were down 33.2% and sales at auction were down 18.0%”  While there was a slight increase in filings from March 2011 to April 2011, of approximately 4%, sales at auction fell 11.6% during the same period.  Athough it is still early in the year and several economic factors remain… Read More »

Posted in Denver Economy, Foreclosures, Uncategorized | Leave a comment