According to a First American CoreLogic report released September 23, 2008, home-sale prices dropped 2.21 percent in July of this year from July 2007 in the Denver - Aurora area. Thirty-five states had nominal price declines in July, and those declines were less than the previous month, according to First American. The Denver-Aurora area was one of the top areas included in First American's July index; i.e. our area had the second lowest amount of decline in prices.

Actually, the drop in price is VERY good news. Nominal price declines "indicate additional stabilization in the geographic expansion of the housing market malaise. ... There is reason to be cautiously optimistic because the price decline stabilization we observe in this cycle is necessary before any improvement in price levels occur," Mark Fleming, chief economist at First American CoreLogic, said in a statement.

Read the entire article: http://denver.bizjournals.com/denver/stories/2008/09/22/daily20.html?surround=lfn&brthrs=1

Vicki Porter

Vicki@PorterHouseRealty.com

Searching for the Right House

Surely, you have heard the common real estate theory that there are three things to consider when buying a house: "Location, location, location!" Once you have decided where you want to buy, you can consider what features you want in your home. Make a "wish list," and be realistic about what you must have (your non-negotiable features) as well as what you would like to have in your home. Think of objective criteria such as the style (ranch or two stories, etc.), the type (home or condominium, etc.), the number of bedrooms and baths, the square footage, whether there is a basement, a yard, a fireplace or garage.

Once you have identified the location and characteristics you want, it is time to hit the streets with your search criteria. If you have done your preparation to get to this point, the actual physical search for your home is often brief. The first thing your broker will do is put the given specifics into the computer. Within a few minutes using the local Multiple Listings Service, an agent can create a listing of the properties that match the desired profile. Then you need to determine which properties you actually want to view. You will want to make notes on the properties you view so that you can decide which best suits you.

Do not be surprised if the perfect house is the first one you visit. On the other hand, do not be disappointed if after looking at a dozen houses, you still have not found the right one for you. You have to just keep looking until you find the house that you want to call home!

If you are searching for a home in the Denver Metro area, you are welcome to search on your own on my website. Go to www.PorterHouseRealty.com and click on the home search page (you can search without being bombarded by advertisements).  You can also save your favorites, make and save notes on the listings, request daily emails to alert you of new listings that match your search and request showings on the properties that you would live to view.