Housing to drive economic growth (finally!)
By Chris Isidore @CNNMoney January 27, 2013: 5:33 PM ET
The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums.
Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers.
“Homebuilding activity will likely remain the strongest growing component of the economy in 2013,” said Keith Hembre, chief economist of Nuveen Asset Management. “After several years of excess supply, demand and supply conditions are now in much better balance.”
Home sales rebounded to the strongest level in five years in 2012, as home building bounced back to levels not seen since early in the recession. Near record low mortgage rates, rising home prices and a drop in foreclosures have combined to bring buyers back to the market.
The economists surveyed also forecast that there will be just under 1 million housing starts this year — roughly matching the 28% rise in home building in 2012. Moody’s Analytics is forecasting much stronger growth — a 50% rise both this year and next year, which it estimates will create more than 1 million new jobs.
“There’s a lot
of pent-up demand for housing, and very little supply,” said Celia Chen, housing economist for Moody’s Analytics. “As demand continues to improve, home builders have nothing to sell. They’ll have to build.” She said that growth in building will mean adding not just construction jobs, but also manufacturing jobs building the appliances and furniture needed in the new homes, which in turn drives overall consumption higher.
Related: The road to real recovery is open
And economists say the tight supply and renewed demand for housing should lead to higher home values — about a 3.7% increase according to the survey.
“One of the most significant indirect effects from the housing recovery is the ‘wealth effect’ on consumers due to the recovery in home prices,” said Joseph LaVorgna, chief U.S. economist of Deutsche Bank, who said better home values can affect both consumer psychology on spending as well as their actual finances.
“Even small moves in home prices can have large effects on consumption, because housing comprises such a significant share of household assets,” he said.
But even with the bullish outlook on housing, economists are still forecasting only a modest rise in the overall economy this year. The consensus estimate is for economic growth of about 2.4% in 2013, only a modest improvement from the 2012 growth rate of about 2% they’re forecasting when the final numbers are in.
By far the biggest concern is a standoff on Capitol Hill. About three-quarters of those surveyed picked Congressional gridlock — which could result in a cutback in federal spending — as the biggest problem facing the U.S. economy. Other choices, such as the European sovereign debt crisis, continued high unemployment and increased government regulation, were much less of a concern.
“Washington is now the primary impediment to stronger economic growth,” said Russell Price, senior economist of Ameriprise Financial. 
Denver area's top luxury homes sales for final quarter of 2012: slideshow
The Tudor-style Country Club home, 450 Westwood Drive, Denver, has six bedrooms, eight baths and 8,581 square feet. It sold for $4.85 million
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- Dennis Huspeni
- Reporter- Denver Business Journal
- Email | Facebook | Twitter | Real Deals blog
One of Metro Denver’s top residential resale homes of 2012′s fourth quarter came from Kentwood Real Estate Co’s Jim Rhye, with the $4.85 million sale of a 8,581 square foot mansion in the Denver Country Club area.
It was not only Kentwood’s top sale of the quarter, but the top sale of the year for the Greenwood Village-based brokerage.
For a slide show of all the homes on this quarter’s list, click on “view photo gallery” above the photo at the right.
The Tudor-style Country Club home, 450 Westwood Drive, Denver, has six bedrooms and eight baths.
“At $732 per square foot, this is the second-highest price per-square foot paid for a home in the Denver Country Club neighborhood,” Rhye said in a statement. “The home is truly a storybook residence in a coveted location.”
Rhye also logged the highest per-square-foot price paid for a home there in 2008 when an owner dropped $967 per square foot — but of course that was before the Great Recession drove prices to the basement.
Other top sales of the fourth quarter, from Oct. 1 through Dec. 31, 2012, as provided by Coldwell Banker Residential Brokerage, Fuller Sothebys, Keller Williams DTC and Kentwood Real Estate. This is not a complete list of the top sales.
#2 – 8925 Mountain View Lane, Boulder, sold for $4.75 million. Broker: Coldwell’s Scott Franklund.
#3 – 7654 Spirit Ranch Road, Golden, sold for $3.9 million. Broker: Coldwell’s Linda Scaglia.
#4 – 5001 S. Albion, Cherry Hills Village, sold for $3.8 million. Broker: Kentwood’s Mary Jones.
#5 – 4710 S Downing St., Cherry Hills Village, sold for $3.67 million. Brokers: Fuller’s Nancy and Fred Wolfe; Susie Dews and Jeff Hendley.
#6 – 1195 E. Tufts Avenue, Cherry Hills Village, sold for $3.35 million. Brokers: Fuller’s Behr Team of Linda, Tre & Josh Behr.
#7 – 33084 Bergen Mountain Road, Evergreen, sold for $2.85 million. Broker: Kentwood’s Rollie Jordan.
#8
– 9430 Owl Lane, Boulder, sold for $2,75 million. Broker: Coldwell’s Scott Franklund.
#9 – 5816 S. Village Way, Greenwood Village, sold for $2.4 million. Broker: Kentwood’s Edie Marks.
#10 – 485 S. Race St., Denver, sold for $2.38 million. Kentwood’s Luisa Staerkel.
#11 – 5772 Secrest Ct., Golden, sold for $1.12 million. Broker: Keller Williams’ Pam Kiker.
#12 – 1326 S. Fillmore St., Denver, sold for $1.04 million by Keller Williams’ Carol Hoffman.
Do you think your brokerage firm sold the most expensive home of the quarter? Send the information, including address, sales price, sales date and a picture to Dennis Huspeni at dhuspeni@bizjournals.com before April 12, 2013. The home must be a resale and located in the six-county metro Denver area.
Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog. Phone: 303-803-9232.
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Lydia Lin, Broker/Owner
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One Realty was so great to work with. My husband and I worked with both Lydia and Trevor and both were awesome! We were short on time, they found us condos to look at in a variety of neighborhoods so we got a good representation of downtown Denver in a single afternoon and made an offer the same day. We have already closed and it could not have been easier. Working with realtors who know their stuff as well as Lydia and Trevor do is priceless. We ran into a slight water issue after closing and they have been right there to help us through it. That is how you know Lydia and Trevor are truly quality people. I actually found Lydia on Yelp. I was looking for a realtor in the Denver area and did a search. Thanks to fellow Yelpers for recommending this great realtor! And Lydia – thanks to living up to the reviews. You are 100%++ as good as Yelpers say you are!
~Tonya & Doug S. 5/20/2013
If you are looking for a place in Metro Denver Lydia is who you want to work with when it comes to a Realtor. I was just starting to look and had some properties in mind. We looked at some of mine and some properties she found. Needless to say we ended up loving the property she found. I looked for a total of one day and made an offer and won a short bidding war. Without her expertise we would have lost the opportunity to get this place.
She is also very tech savvy making a lot of the process very easy and fast moving. She also knows the mortgage brokers you need to be working with depending on the type of place you are getting. The whole process seemed way to easy and I credit that to Lydia.
~ Sam Saslow 4/24/2013
“In February of 2013 I contacted Lydia Lin about being my realtor. She was very quick to respond and seemed eager to help me find a home. I had been looking off and on for more than 2 years and within 2 weeks of contacting Lydia I was under contract on a wonderful place. Once we were under contract Lyida helped me in every step of the closing process. She answered all of my questions and was super helpful in everyway. I really felt like she had my best interests in mind. I cannot recommend Lydia highly enough. She is by far the best real estate agent in the Denver metro area.”
~ Ryan M. 4/11/2013
“Lydia is always my go to source when it comes to Denver Area real estate. Not only is she a great resource for local values and trends, but she has awareness for any and all pitfalls that need to be identified before making a truly well-informed decision. I recently purchased a home through Lydia and because of her I avoided some horrible purchase decisions and patiently settled on the right home at the right price. Thanks Lydia!”
Service Category: Real Estate Agent
Year first hired: 2012 (hired more than once)
Top Qualities: Great Results, Personable, High Integrity
~Scott Wayne 1/29/2013
Lydia Lin is the real deal. She's a very good negotiator and has a style all her own. I'd met her a few years ago when we were both trying out for MasterChef (a reality TV show for home cooks who fancy themselves chef-quality foodies). I was only living in Denver temporarily then, but when I decided to move here permanently, I reached out to Lydia to tell her what I was looking for. She was Johnny on the spot emailing me listings right away on a weekend. I did a lot of house shopping “online” and felt totally educated and prepared for where the market was in the neighborhoods where I wanted to look. We scheduled an appt for lunch to talk about my search when I was in town for only a brief period and then the next time I visted, we looked at 5 hours and we put an offer in later that day. She's very knowledgeable about the law and local customs with inspections etc. You know the saying, “If you really want something done, give it to a busy person.” Well that comes to mind when talking about Lydia. She's a very popular and busy realtor so she's constantly writing offers and closing deals. Plus, she's just an absolute joy to work with. I got a great house, a great realtor and a new friend!
I think the average person knows about 12 realtors. Trust me, you don't know any other realtor like Lydia. She's earned the nickname “Ninja Realtor”! ~Dana Johnson 11/6/2012
Lydia Lin is the best realtor in Denver. Hands down. Lydia helped me find my dream house in Northern Denver. The level of attention that she paid to my specific requests is beyond par. Lydia explained the process of home buying to me through every aspect of the process. Lydia was patient with my requests and contacted me every day during the nerve wracking time period between placing the offer and closing on my house. Lydia literally saved the day when a company hired to replace my roof threatened to extend my closing. Through Lydia's numerous contacts she was able to secure an alternate company and have the roof finished in 1 day.
Lydia is amazing, knowledgeable, connected to other professionals in the city, and a lovely person to work with. If you are looking to buy or sell a house, the BEST step you can take is contacting Lydia to help you! 9/19/2012 ~Rebecca Gumaer
Lydia Lin with OneRealty is AWESOME! My husband and I wanted to look for a home in Denver and a friend who just bought a house through Lydia recommended her. And I'm glad he did! She was such a pleasure to work with. Lydia was very communicative and quick to respond to any questions/requests my husband and I had. We ended up with the perfect house for us and she was incredibly helpful from beginning to end!
Just a few of the great things about Lydia…
Quick to respond. Weekends, evening… anytime.
Really worked around our schedules.
Thoroughly answered questions we had.
Strategized with us on how to get the right home for our needs/wants.
Quick to communicate with sellers agents.
Worked with our broker to make sure purchase went smoothly.
Was open to looking at as many houses as we wanted and we looked all over the Denver Metro area.
Is active in the realty community to keep her knowledge of the market current.
Gave us guidance, but did not pressure us into anything.
Took what could be a stressful transition and made it a fun and successful experience.
Thank you Lydia! 7/26/12 ~Aimee O'Malley
I highly recommend Lydia Lin at One Realty. Lydia helped me find a loft in Downtown Denver in 2012. It was a great experience working with her. I met Lydia while viewing a few of her other listings around town. I liked the way she represented her sellers and their properties, and so I decided to ask her for help as my buyer's agent.
After looking at about 10 properties with Lydia, the perfect place for me ended up being a short sale with a super low list price. The first day it went on the market, she took me to view the loft and there were already 2 other offers. Later that same night, she helped guide me though the process of making an appropriate offer (not too low, not too high), and I ended up with the winning bid the next day! I did have to wait five months for the banks to approve the short sale (which is typical), but she kept me updated often, and I was comfortable with the waiting process. I ended up with a great loft and got a great deal, thanks to Lydia!
Lydia has a deep understanding of the Denver real estate market. She is smart, detail oriented, and a good negotiator. She is patient, yet direct and to the point (which I appreciate). She's up on technology, which is great: e-contracts, emails with MLS listings, virtual tours, and all that good stuff. She was accessible around the clock, and almost always gives you an immediate response via email, phone, text, or in person. As a bonus, she is super friendly and fun, knows all the good restaurants, and has lots of great personal and professional contacts. Most importantly, she knows how to get a deal done. I highly recommend her for anyone looking to buy or sell in Denver.
7/7/2012 ~Shilo Rohlman
It is honestly tough to find a good realtor (Not Flaky, with patience) that actually listens to what you want. After renting for two years in Denver, I knew what I wanted and where I wanted to live but I wasn't totally committed to purchasing. Lydia was recommended by a mutual friend. I sent her an email about checking out a place I found online and received a response within the hour. She met me that same day to look at it. The place wasn't for me but I gave her a very specific check list of what I wanted in a home. Again I wasn't that committed to buying a place but if she found the right place for the right price, I would consider. Most realtors would have probably considered this a waste of time but Lydia stuck with me for a whole year until I was ready to buy. Earlier this year Lydia found me exactly what I wanted. We made an offer and with Lydia's help, we were able to get the deal done. I have been living in my new place for a few months now and it truly is exactly what I wanted. Lydia is definitely top notch and I highly recommend her to anyone looking to purchase in Colorado. ~Vincent Deluca 7/2/12
Lydia at One is a top notch, tech savvy real estate professional. She was dedicated and committed to my individual needs. She showed a tremendous amount of patience and moved quickly (over a holiday weekend, no less) when a hot property finally became available. Without her efforts, I might still be looking. She is educated, well versed about the markets, executed without failure and became a real confidant for me throughout the entire process. In an industry where realtors are a dime a dozen, Lydia is the diamond in the rough. ~ Donald Carbone 4/12/12
“I initiated contact with Lydia Lin back in March of 2010 as I began planning my relocation to Denver. She has been a huge asset to me from day one, not only as a immensely competent Realtor but also as a multifaceted professional with contacts in so many areas. I must give credit to Lydia for her part in the success and ease of my move. I have and will continue to recommend Lydia to friends, family and colleagues knowing that she is the finest in her field and will achieve the best possible results for those that I refer her to. Thanks Lydia!”
Jeanne Haager Sat Jan 8, 2011
“Lydia is very professional and looks always for the best outcome for her clients. She communicates very well and does not mind to “walk the extra mile” to get the job done. My wife and I were very happy both times Lydia was our real estate agent.” Top qualities: Great Results, Personable, High Integrity, hired Lydia Lin more than once… Mathias Menge January 11, 2011
“By the time I started working with Lydia, I had been through two other realtors and was pretty frustrated and stressed. She calmed me, gave me fantastic advice when house hunting, and was able to get me under contract three times. I am now celebrating my one year anniversary in my house! Lydia is very serene and knowledgeable in the way she does business, which is wonderful in such a stressful market. I would recommend her to anyone needing to buy property of any kind.” Top qualities: Great Results, Personable, Expert Lisa deGraffenried January 9, 2011
“Lydia is very easy to work with and has endless energy. She truly has her client's best interest in mind and remains focused in what can sometimes be an emotional roller coaster ride of a transaction. Her patience, positive attitude, and ethical standards make her a real estate agent anyone would be thrilled to have on his or her side.” Top qualities: Great Results, Personable, Good Value Jamie M. Dandar January 8, 2011
“Tenacious and outgoing…there is nothing in this town that happens without Lydia knowing about. I’ve known Lydia now for four years and have seen her business grow like crazy. Lydia is very well connected and a proven professional in real estate. Image how her connections can work for someone looking to buy or sell a home. You won’t be disappointed…” Sean Marshall, Owner, GUS Appraisals Inc
January 14, 2011
“Lydia is an expert when it comes to Denver, CO Real Estate. She helped me find the perfect place with exactly what I was looking for in the neighborhood I wanted. I would recommend her to anyone!” Top Qualities: Great Results, Personable, Expert August 23, 2011 Daniel Mallatt
“Choosing Lydia Lin over all the other agents in Denver was one of the best decisions I have ever made. I chose her because of her experience. But she is so much more than an expert real estate agent…
In a very short time Lydia became not only my friend, but a rock to lean on in a real estate world that I knew little about. If I ever became confused with anything, she took the time to explain it to me in easy to understand terms. When I became frustrated with not being able to find my new home quickly, she soothed me and let me know it was ok to take the time to find it. She assured me over and over that we would eventually find the perfect place… and we did!
Lydia is also one of the most trustworthy people I have ever known. I have never completely trusted someone so quickly before! It felt so comforting to always feel that there was somebody so knowledgable on my side… somebody who was there to fight for me. She took care of all the details. She brought things to my attention that I didn't even know were important. And she always kept me informed.
To stay on top of her game, Lydia is continually educating herself in the real estate industry by attending seminars and conferences. But even with her strong commitment to education, she is always plugged in and very accessible. She returns calls and/or emails very quickly. I don't know how she fits so many things into her day! But she never drops the ball. And she is always there when needed.
Yet despite her tireless work ethic and attention to detail, she is always having fun. Spending time with Lydia is not all business. It was a true pleasure to deal with such a happy, positive, and vibrant personality.
This is not a job to her… but a way of life. A life that anyone can see she loves. Lydia Lin is not an agent looking for the quick buck. She is a very caring person looking to make people happy. Her goal is to match clients with their perfect home. No matter what it takes. No matter how long it takes. Not once did she make me feel rushed. Not once did she make me feel like I was being too picky.
I finally found my perfect home! Or rather, Lydia found my perfect home. And as I sat there at closing, signing so many forms, she sat beside me watching it all, jumping in to explain certain finer points that I may have otherwise glossed over. What should have been a stressful day was completely serene, knowing that she was looking out for me and my interests. I am truly in her debt and will never forget how well she treated me.” ~ Bill Mone, December 5, 2010
“Lydia has been our broker for several years. Her patience and expertise continues to exceed our expectations. Lydia is professional, knowledgeable and well-connected. In addition to being a successful and respected entrepreneur, managing over 25 broker associates, she is committed to her clients and to getting the deal done. I trust her judgment and business ethics, I would highly recommend her. http://www.onerealtydenver.com” Top qualities: Personable, Expert, High Integrity Melinda McNab Ridgley September 7, 2009
“I have worked for Lydia for nearly a year now. She is by far the best employer I have ever had the privilege to work for. She is incredibly supportive, and always willing to help mentor new Realtors such as myself. The level of attention she has provided during my learning curve is astounding. Not only would I recommend working for Lydia, I would recommend working with her as she has a vast knowledge of our industry, and gives as much attention to her employees as she does her clients. “ Jeff Plous, ONE Realty September 10, 2008
Downtown Lodo Riverfront Area
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Posted: Apr 15, 2013, 7:50am PDT
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Home sales in metro Denver up 46% in March
Home sales in metro Denver up 46% in March
POSTED: 04/03/2013 08:18:37 AM MDT
UPDATED: 04/03/2013 11:20:26 PM MDTBy Howard Pankratz
The Denver Post
A home on the 2300 block of Clermont Street listed with Coldwell Banker realty in Denver's Park Hill neighborhood is under contract, Tuesday afternoon, March 26, 2013. (Karl Gehring, The Denver Post)
Homes sales in March in the Denver metro area increased 46 percent from February and 20 percent from March 2012, according to a report released Wednesday by Metrolist.
In March, 4,333 homes were sold, compared with 2,967 in February.
Metrolist said that by all year-over-year comparisons, the Denver market is “significantly stronger than it was in 2012.”
The average price of a Denver-area home is up 19 percent, to more than $295,000. The average days on the market is down 35 percent, and
inventory levels are 35 percent lower than they were in March 2012.
“As low inventory levels force prices up and decrease the amount of time houses are on the market, local market competition has noticeably risen,” said the report.
“Our brokers
are seeing strong increases in 'flash sales,' where homes are coming under contract within days or even hours after being put on the market,” said Kirby Slunaker, CEO and president of Metrolist.
March marked the ninth month-over-month decrease in available listings.
Read more: Home sales in metro Denver up 46% in March – The Denver Post http://www.denverpost.com/breakingnews/ci_22933240/home-sales-metro-denver-up-46-march#ixzz2QJ5nZCiE
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