Homebuilders Buying up Lots – Good Sign for Market Rebound in Denver
Wednesday, July 7th, 2010
27 West Silver Sage Drive – $249,000
Hi Everyone,
Looks like some good activity in the Colorado land market. With land being some of the hardest hit in Colorado it appears the prices have fallen low enough for investors to snatch up the bargains. With a extremely large amount of land listings in Crested Butte, CO I suspect we will see some move this summer, prices have droped 75% is many cases. Call me if you are interested in purchasing some Crested Butte land this summer.
Whether you are inquiring about Crested Butte homes for sale, Crested Butte condos for sale or Crested Butte land for sale or wish to sell your Crested Butte home, condo or land I have vast knowledge of the Gunnison Valley to assist you. As a Benson Sotheby’s International Realty real estate agent and Realtor I have unrivaled access to qualified people throughout our global Sotheby’s network. Please take a moment to get to know me better by clicking About Me and Testimonials. You may search the Crested Butte MLS listings via my Crested Butte property search page anytime of the day as well as set up My Listing Manager to notify you of new property listings. Contact me anytime of the day to obtain my expertise as your resort property specialist in the Crested Butte area as I am committed to unparalleled service.
Cheers,
Corey
Corey Dwan – REALTOR
Benson Sotheby’s International Realty
P.O. Box 210
433 Sixth Street
Crested Butte, CO 81224
970-596-3219 Cell
970-325-3219 World Wide Cell
970-349-6653 Office
970-797-1810 Fax
www.CrestedButteForSale.com
Homebuilders Buying up Lots – Good Sign for Market Rebound in Denver
Denver Post: Despite softening sales in the new-home market, national home building companies in the Denver area are continuing to buy lots, significantly driving up prices from where they were a year ago.
It’s part of their push to have communities to build in when their existing inventory runs out and to position themselves for an economic turnaround.
The push to buy lots comes even as sales of new homes collapsed in May, falling 18.3 percent nationally compared with the same period last year.
“At the end of last year, we had just one active community that we could still sell homes in in 2011,” said Matt Janke, director of land acquisition for Meritage Homes’ Denver office.
Over the last six months, Meritage Homes has snapped up about 600 lots in 13 communities, and the company isn’t stopping — it closed on four land deals last week.
“As long as I can underwrite the deal and the market data supports the deal, we will continue to buy,” Janke said. “We have no cap on what we can buy.”
Meritage recently bought 72 lots in the Smoky Hill corridor for $43,000 apiece from an investor who paid $24,000 each last summer, Janke said.
“It’s still a fantastic price, but it shows there’s an appreciation in the market,” he said.
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