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RE/MAX: 100,000 agents and growing

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Highlights:

  • Denver-based RE/MAX now has more than 100,000 agents.
  • RE/MAX set that milestone in April.
  • RE/MAX released its 1st quarter earnings.

By John Rebchook

Dave Liniger, CEO and co-founder of Denver-based RE/MAX, announced that RE/MAX agent count now tops 100,000.

Dave Liniger, CEO and co-founder of Denver-based RE/MAX, announced that RE/MAX agent count now tops 100,000.

Denver-based RE/MAX now has more than 100,000 agents. Continue reading RE/MAX: 100,000 agents and growing

RedPeak buys 3 Capitol Hill buildings

Highlights:

  • RedPeak is based in Denver.
  • RedPeak buys a trio of Capitol Hill apartment buildings.
  • RedPeak is looking for other infill apartment buildings.
RedPeak bought this apartment building at 929 Marion St. in Capitol Hill.

RedPeak bought the 43-unit Stanley apartment building at 929 Marion St. in Capitol Hill.

RedPeak, a Denver-based apartment owner and development company, has increased the size of its local portfolio by paying $13.85 million for three apartment buildings in Capitol Hill in Denver. Continue reading RedPeak buys 3 Capitol Hill buildings

Mizel: Spec vs dirt

Highlights:

  • MDC Holdings releases its 1st quarter earnings this week.
  • CEO Larry Mizel answers questions from analysts.
  • Analysts ask about spec homes vs buying dirt.

 

By John Rebchook

Larry Mizel, the CEO of MDC, addressed questions about "spec" homes vs. buying "dirt."

Larry Mizel, the CEO of MDC, addressed questions about “spec” homes vs. buying “dirt.”

We’re not building homes to cover overhead; we’re building homes to make a profit,” Larry A. Mizel. Continue reading Mizel: The dirt on dirt and spec homes

April home prices set record

Highlights:

By John Rebchook

The average sales price of a single-family, detached home in April for the first time topped $400,000. Source: REcolorado.

The average sales price of a single-family, detached home in April for the first time topped $400,000. Source: REcolorado.

The average price of a single-family home sold in the Denver area in April eclipsed $400,000 for the first time ever.

The average price of a single-family, detached home closed in April was a record $402,302, according to a report released by REcolorado on Tuesday. A separate report by the Denver Metro Association of Realtors put the average price of a single-family house even higher at $404,206, 11.55 percent higher than the $362,368 average price of a home closed in April 2014. Continue reading April home prices set record

Mizel: MDC poised well for the future

Highlights:

  • MDC reports 1st quarter earnings.
  • MDC reported net income of $8.4 million.
  • The average sales price of a home sold by MDC rose $49,000.

 

By John Rebchook

Richmond is building 5 new "eco-friendly" models at Sky View at Candelas at 9412 Noble way in Arvada. Shown is the Darla model, with 3,337-square, feet, 4-berooms, 4-bathrooms, and a 3-car garage. Its base price is $542,950.

Richmond is building 5 new “eco-friendly” models at Sky View at Candelas at 9412 Noble way in Arvada. Shown is the Darla model, with 3,337-square, feet, 4-berooms, 4-bathrooms, and a 3-car garage. Its base price is $542,950.

MDC Holdings Inc, the Denver-based homebuilding company, on Tuesday reported net income of $8.4 million, or 17 cents per share in the first quarter, compared with $11.5 million or 23 percent per share in the first quarter of 2014.

Although that is a 27 percent drop in dollars and a 26 percent drop per share, MDC beat earning estimates by a penny, according to reports. Continue reading Mizel: MDC prepared for growth

Map shows $1.3 billion in downtown developments

 

Highlights:

  • The Downtown Denver Partnership releases a map of downtown projects.
  • The map shows $1.27 billion in projects
  • Another $800 million or so is in the pipeline.
This map, released by the Downtown Denver Partnership, highlights $1.27 billion in construction projects in downtown.

This map, released by the Downtown Denver Partnership, highlights $1.27 billion in construction projects in downtown.

By John Rebchook

Downtown Denver is undergoing a $1.3 billion building boom, shows a map released on Monday.

In addition, about another $800 million in projects are on the drawing board.

If the apartment, office, hotel and retail projects under construction were stacked on to each other, it would be the equivalent of a 401-story tower.

To put that in perspective, the tallest office building in Colorado, Republic Plaza, has 56 stories.

The Downtown Denver Partnership released a Downtown Denver Development Map that shows projects under construction or planned, as of April. Continue reading Map shows $1.3 billion in downtown developments

In Boulder, a few apartment units make a difference

Highlights:

  • New apartment community opening in Boulder.
  • Apex 5510 has another 34 units.
  • The entire community in North Boulder has 231 units.
2 more buildings have opened in this Boulder apartment community, adding 34 units to the market.

2 more buildings have opened in this Boulder apartment community, adding 34 units to the market.

By John Rebchook

Adding fewer than three dozen apartment units to a market doesn’t seem like much.

But there were only 625 vacant apartment units in Boulder County in the first quarter, according to a recent report by the Apartment Association of Metropolitan Denver.

So by opening a mere 34 apartment units in the Apex 5510 community in the North Boulder’s Gunbarrel district of Boulder, developer, Crossbeam Concierge increased the Boulder County supply by 5.4 percent. Continue reading In Boulder, a few apartment units make a difference

Meritage building by Apex center in Arvada

Highlights:

  • Meritage unveils 125-home community in Arvada.
  • Meritage’s Richards Farms is across from the Apex Center.
  • Meritage will begin selling the first homes this fall.

 

Meritage Homes has started construction at Richard Farm in Arvada, across from the Apex Recreation Center.

Meritage Homes has started construction at Richards Farm in Arvada, across from the Apex Center.

By John Rebchook

Meritage Homes has started construction on a 125-home community on 32 acres across the street from Arvada’s Apex Center, one of the premier recreation centers in the Denver metro area.

Being able to walk out your door and arrive at the Apex center in minutes is an incredible, one-of-a-kind amenity, according to Shannon Hebert, marketing director of Meritage’s Colorado operation.

“I think it is going to be great,” Hebert said. Continue reading Meritage building by Apex center

High-end home prices keep rising

Highlights:

  • Demand strong for high-end housing.
  • Builder Jackson sees rising prices continuing.
  • Jackson sold $900,000 units in Wash Park in 2 weeks.
Jackson Design + Build sold both sides of this duplex quickly for a total of about $1.8 million.

Jackson Design + Build sold both sides of this duplex quickly for a total of about $1.8 million.

By John Rebchook

When David Jackson started construction on the high-end duplex in Washington Park a year ago, he knew the market was strong and the units would sell quickly.

Just how quickly the “paired-home” development — where each unit was priced at just under  $900,000 — surprised even Jackson, who has been building homes in the Denver area since the 1990s. Continue reading High-end home prices on a tear

Record apartment rents could be catalyst to buy in Denver area

Highlights:

  • Apartment report released on Tuesday.
  • Apartment shows record rents.
  • Housing prices also at record levels.
A snapshot of average rents in the Denver area.

A snapshot of average rents in the Denver area.

By John Rebchook

The overall average monthly apartment rent in the Denver area in the first quarter crossed $1,200 for the first time.

The median monthly rent for all units also hit a record in the first quarter, according to the Denver Metro Area Apartment Vacancy and Rent Survey released on Tuesday.

The average rent in the Denver area at the end of the first quarter was $1,203.89, 12.1 percent higher than the $1,073.63 in the first quarter of 2014 and a 3 percent increase from the $1,168.65 in the fourth quarter. Continue reading Record apartment rents could be catalyst to buy