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This duplex unit sits on the western edge of Raven Circle with views typically found in the prestigious Reserve neighborhood right next door (typical home price is between $750,000 and $1.5 million). Open meadows stand between your home and the snow-capped peaks viewable from your living room, bedrooms and deck.

The home has been lovingly cared for and upgraded including hardwood floors, Hunter Douglas blinds, new light fixtures, new plumbing fixtures, and a new built-in desk in the kitchen. The west facing deck expands the living space in the summer and the retractable awning gives you shade or sunlight depending on your mood.

This is a fantastic alternative to single family living. Come take a look today!

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Outstanding value in this spacious end-unit condo that feels and looks brand new! Including tons of
storage, 2 car garage, 3 bedrooms, 3 baths, large patio, gas fireplace, and a large great room floor plan.

Longs Peak and Continental Divide view from the front entry and from inside the home. Excellent
location with access to downtown Estes Park, the walking paths around the lake, and a quick escape down Highway 34 without going through downtown. Compare to others! You won’t be disappointed.

30 day minimum for rentals as per the HOA covenants.

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Estes Park Real Estate Statistics July 2014

Did the summer months fly by as fast for you as they did for me? I’ve even heard rumors of the Elk Rut starting already! No joke! Usually, the elk don’t start their mating season until the end of August or into September. I haven’t seen the rut behavior myself and I haven’t heard an elk bugle yet, so I’m pretending it isn’t true for now.

The real estate market continues to make my life interesting while I try to interpret the data and do my best at predicting the future. Some stats show a healthy and improving market while others show a little more reason to worry. Here are a few of the indicators I’m tracking:

  • Median Prices of single family homes sold continue to skyrocket into uncharted territory.
  • Vacant land sales seem to be on fire though with way more sales than normal compared to the last several years.
  • Single Family home sales are down from last year at this point, but there were significantly more sales in July this year compared to last year.
  • The absorption rate (relationship between supply and demand) for both single family homes and for condominiums is higher than I’d like to see it which means homes and condos probably won’t see much appreciation in the near future.

Advice for Buyers

Interest rates are holding steady around 4% to 4.25% but they are predicted to increase over time. If you are considering buying next year, consider the fact that it is very likely that home prices will increase AND it will be more expensive to get a mortgage.

Over the next couple of months, there will be two types of homes for buyers to keep their eye out for. First, there will be a bunch of properties coming available after the owners have used them for the summer one last time. When you see a good price drop on a property you have your eye on, take advantage of it quickly because there are a lot of buyers in town right now watching the same thing you are watching. Secondly, at the end of summer, there will be sellers who will get a little nervous and drop their price because they see that the summer selling season is slipping away. When you see a good price drop on a property you have your eye on, take advantage of it quickly because there are a lot of buyers in town right now watching the same thing you are watching. Both situations could offer a buying opportunity for buyers who are paying attention.

Advice for Sellers

There is a serious need for fresh properties in great shape at good prices. At this time of year, it is common for the available inventory to feel “picked over” to buyers who have been looking for a while. In certain price ranges, it may also be possible to push your valuation up a little bit because of the lack of updated homes. In other price ranges, you still need to be very aggressive to generate any type of buyer interest.

Single Family Homes

175 – Active on the market (8 more than last month and 4 more than this time last year)
21 – Sold in July (3 more than last month and 9 more than July 2013)
38 – Currently Pending (4 less than last month and 1 less than this time last year)
$384,000 – Median Price of trailing 12 months of sales
$719,000 – Most expensive home sold in July
$200,000 – Least expensive home sold in July
12.4 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

93 – Active on the market (7 less than last month ago and 15 less than this time last year)
8 – Sold in July (1 more than last month and 1 less than July 2013)
24 – Currently Pending (17 more than last month and 3 more than this time last year)
$248,000 – Median Price of trailing 12 months of sales
$520,000 – Most expensive condo sold in July
$122,500 – Least expensive condo sold in July
12.7 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

125 – Active on the market (2 more than last month and 18 less than this time last year)
9 – Sold in July (5 more than last month and 5 more than July 2013)
21 – Currently Pending (3 less than last month and 18 more than this time last year)
$143,000 – Median Price of trailing 12 months of sales
$850,000 – Most expensive land sold in July
$50,000 – Least expensive land sold in July

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Estes Park Real Estate Statistics June 2014

As we are coming into the middle of the summer in Estes Park, the real estate market is behaving in some interesting ways. While it appears we are having an excellent year with lots of transactions taking place, we aren’t quite matching up with the outstanding year we had last year. Here are a few of the highlights…some positive and some negative.

    1. Single Family median prices are at a new all time high at $381,250. This is fantastic news for our market place as it is showing improving momentum with mid and higher priced properties.
    1. Pending properties are at a very high number among single family homes and also vacant land (however, it should be noted that there are a large number of lots wrapped up in one transaction at the Fall River Village).
    1. List price to sale price ratio is averaging 7-8% off the list price. For example, properties with a list price of $100,000 would expect to sell around 92,000 to 93,000 if they followed the averages.
    1. Absorption rates have been climbing for 4 months in a row. Meaning there is not enough demand to keep up with the inventory coming on the market.
    1. Total number of sales through the first 6 months of the year are down 25% in single family homes, down 25% in condominiums, and down 39% in vacant land sales.

Advice for Sellers

Typically, July is an outstanding time to be on the market as it is one of the busiest time of year for buyers viewing property. Don’t let the extra activity go to your head. You still need to have an aggressive price to match up against your competition. Inventory is rising which means buyers have more to choose from. Make sure your property is positioned well, price right, and photographed in its best light possible. Otherwise, we’ll soon be having discussions on what to do when summer is over and your home hasn’t sold yet.

Advice for Buyers

Act decisively when you see a property you like. As a buyer, the last thing you want to be involved in is a multiple offer scenario. These are excellent for the seller, but terrible for the buyer. Keep in mind there are a lot of buyers in town this time of year (as you can see from the number of pending properties right now). With all these buyers, there is a good chance someone is looking at the same properties you are looking at. Keep watch for good deals on sites like this one (http://HomesInEstes.com/Search), and make that offer before someone else does.

Single Family Homes

167 – Active on the market (8 more than last month and 2 more than this time last year)
18 – Sold in June (2 more than last month and 5 less than June 2013)
42 – Currently Pending (5 more than last month and 10 more than this time last year)
$381,250 – Median Price of trailing 12 months of sales
$975,000 – Most expensive home sold in June
$130,900 – Least expensive home sold in June
12.4 Months Supply of Inventory (Also called Absorption Rate)

Condominiums and Townhouses

100 – Active on the market (7 more than last month ago and 3 less than this time last year)
7 – Sold in June (8 less than last month and 7 less than June 2013)
7 – Currently Pending (3 less than last month and 12 less than this time last year)
$237,000 – Median Price of trailing 12 months of sales
$394,000 – Most expensive condo sold in June
$190,000 – Least expensive condo sold in June
13.5 Months Supply of Inventory (Also called Absorption Rate)

Vacant Land

123 – Active on the market (3 more than last month and 16 less than this time last year)
4 – Sold in June (2 more than last month and 1 more than June 2013)
24 – Currently Pending (11 more than last month and 19 more than this time last year)
$146,000 – Median Price of trailing 12 months of sales
$205,000 – Most expensive land sold in June
$126,000 – Least expensive land sold in June

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Bank Owned Lot on Silver Tree Lane

Excellent deal in an ‘up and coming’ neighborhood with public water and sewer available and easy paved access. Accommodations Zoning provides flexible options for short term rentals. Not far from the National Park main entrance without venturing through downtown. Big views to the Mummy Range, southern exposure and gently sloping lot perfect for a walk-out […]

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Lovingly built home with a warm rustic feel for sale

This home was lovingly built by the current owner with great care and detail to the woodwork. It has a warm rustic feel with weathered pine floors throughout the house, vaulted ceilings covered with tongue-and-groove pine, and wood wainscoting. The oversize windows feature views of Longs Peak, Twin Sisters, and Fish Creek. The ensuite master […]

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Turnkey horse property on over 2 acres of super-private land for sale

This turn-key property has it all! Easy access to over 2 acres of super-private, pristine horse property with both wooded and meadow areas and a tiny creek running behind the house. Enjoy living in this log-sided home with vaulted ceilings, Pergo wood floors, a wood stove, and large windows that let the sunlight in. The […]

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Estes Park Real Estate Market Statistics for May 2014

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Monthly real estate statistics report for Estes Park, Colorado detailing what is going on in the local real estate market for May 2014

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Impressive End Unit Condo at Northridge Meadow for sale

An impressive end unit condo at Northridge Meadow has fantastic windows that flood the living spaces with light. The condo has been updated very recently with attractive quartz kitchen countertops, new stainless steel appliances, hot water heater, and storm door. Three full bedrooms and three full baths (2 ensuite) help make overnight guests super comfortable. […]

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7 Acres of Land in the Prestigious North End of Estes Park for Sale

The prestigious North End of Estes Park features some of the finest views anywhere in Northern Colorado. This 7 acre parcel showcases the best of what the North End has to offer with unobstructed views of the Continental Divide and Longs Peak. With gently sloping topography, easy access, all utilities available on site, and even […]

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