First Time Homebuyers BEWARE!

Scam artists come of of the workwork when they see an opportunity! Here is another example!

The $8000 credit given to first time homebuyers is given ONLY from the government - not from any other company or entity! According to the BBB, there are web sites offering double and triple your credit if you go thru them! SCAM SCAM. If it sounds too good to be true, it is!

When you file your taxes, after closing on the house, you are able to claim this $8000 CREDIT. If you were going to get money back, add $8000 to this amount. If you owe taxes, deduct this from the $8000.

Any first time homebuyer that has not owned a home in the last 3 years is eligible. It is 10% of the purchase price OR $8000, not both.

If you have further questions how this tax credit will be applied, contact a local tax preparer.

Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point RE
720-231-6373

Denver Real Estate Sales

The numbers have been released --- FEBRUARY was a hit! The sales for February 2009 was up 29.07% over February 2008 sales! The sales were primarily in the $100,000 - $200,000 sales, which indicates our first time homebuyers are jumping into the market, or investors are feeling this is a good market to invest.

The median sales price increased 6.6% over last year's median price - which means our market is starting to show increasing values again.

Metro Denver has had a "condo glut" over the last few years, which has slowed sales in that price range, but with the first time homebuyers taking advantage of the $8000 tax credit, there is renewed interest in this arena.

Days on market for condos are now 106 days, which is down 2.75% from February and down 10.17% over March sales 2008. Single detached family homes have not changed for days on market.

High end properties are starting move again also. 29 properties were sold in March that sold for more than $1 million, compared to other months in the last year, which were all under 20.

Joan Cox, GRI,ABR,CRS,e-Pro
Metro Brokers - Turning Point RE, Inc.
720-231-6373
www.JoanCox.com

Denver - The Relocation City

It was just announced in Forbes recently that Denver is the buzz city with the relocation booming! Across the country, there is little to no population growth for 2008, and not much happening in the real estate arena, but DENVER has enjoyed a population growth of 2.17% in 2008. In 2008 - Denver was the 10th fastest growing metro area in the United States!

It was printed in PEW that Denver was the most popular city in America for our skiing, culture, vibrant nightlife and business opportunities. Our 300+ days of sunshine doesn't hurt either.

We are not a cow town, and more and more - other parts of country are finding out what a GREAT CITY Denver really is!

Joan Cox
Metro Brokers - Turning Point Real Estate, Inc.
720-231-6373
www.JoanCox.com