11 minute read
SEE HOUSING
the Denver Metro Association of Realtors Market Trends Report.
Another indicator of the direction of the home-buying market is the number of homes that sold for $1 million or more, said Jace Glick, a broker-owner at Re/Max Alliance specializing in Douglas and Elbert counties.
Through November 2021, 14.2% of homes that sold in the metro area were priced at $1 million or more, compared to 7.6% in the fi rst 11 months of 2020. Meanwhile, the percentage of homes sold in the $300,000 to $499,999 range fell from 34.6% in 2020 to 9.6% in 2021, largely because of a severe shortage of homes in the mid-tier range. Only a sliver of all homes sold for less than $300,000, a number that would have been considered average for the Denver area a decade ago.
Douglas County in particular has experienced price hikes, thanks to its reputation as a desirable place to live, Glick said.
“Our inventory levels are anemic,” Glick said. “In 2019 there were 1,031 homes for sale. Right now there are 349. That’s a third. There aren’t as many sales because people aren’t selling.”
COVID-19 certainly contributed to the problem, adding a previously incomprehensible layer of complication to a marketplace that was already short on inventory.
“COVID changed the way we think about our homes,” said Jessica Reinhardt, member of the Denver Metro Association of Realtors Market Trends Committee and a local broker. “It’s no longer just where we eat and sleep. It’s where we work, where we spend our free time, it’s where our kids go to school. Everything has been exasperated. COVID exasperated our market.”
The uncertainty and fear that the pandemic brought completely disincentivized people from selling their homes at the same time that turmoil in international markets destabilized funding for new development, throwing a wrench into the pipeline of new-build homes. Now, supply-chain problems, labor shortages and materials costs slow construction times of those homes that are under construction, Glick said.
And these trends are likely to continue into 2022, although Glick anticipates a bit of an uptick on the inventory side, particularly from baby boomers deciding to downsize or move closer to their children.
But larger economic forces are at play, impacting would-be buyers’ ability to come up with the money to chase down increasingly expensive properties.
“Infl ation is the ultimate silent tax,” Glick said, referencing recent surges in infl ation nationwide. “When everything you buy goes up, it’s a silent tax. It hurts people, they notice it.”
In response, the Federal Reserve has indicated that it is likely to raise interest rates in 2022, which in turn cuts into buying power for those seeking homes.
And buyers are feeling the strain, especially those who are trying to purchase a home for the fi rst time, Reinhardt said. These buyers have never gone through this process before and repeatedly losing bidding wars or have offers rejected is defeating for them.
“Every time they write an offer, they’re invested. They’ve pictured their Christmas tree in that house somewhere,” she said.
Aside from the bidding wars, the price increases have changed the idea of what an entry-level home is, Reinhardt said. She also predicts another challenging year for buyers, particularly until the weather starts to warm up. Colorado’s residential real estate market typically slows down in the winter as inclement weather and the holiday season keep people from listing their homes.
“There will be some new inventory hitting the market, but I don’t think we’ll see that fi rst wave until early spring,” Reinhardt said.
And even then, the number of homes placed up for sale as the
Realtors Market Trends Report. tion of the home-buying market is the number of homes that sold for $1 million or more, said Jace Glick, a broker-owner at Re/Max Alliance specializing in Douglas and Elbert counties. of homes that sold in the metro area were priced at $1 million or more, compared to 7.6% in the fi rst 11 months of 2020. Meanwhile, the percentage of homes sold in the $300,000 to $499,999 range fell from 34.6% in 2020 to 9.6% in 2021, largely because of a severe shortage of homes in the mid-tier range. Only a sliver of all winter thaws into summer sellhomes sold for less than $300,000, ing season can’t keep up with the a number that would have been tremendous demand in the Denver considered average for the Denver area. area a decade ago. Still, it’s not impossible to buy a new home, Reinhardt said, but has experienced price hikes, it’s important for buyers to have thanks to its reputation as a desir- realistic expectations before they able place to live, Glick said. jump into the fray. That, and having a strong team in their corner. mic,” Glick said. “In 2019 there “When I give advice to buyers, were 1,031 homes for sale. Right the number one thing is to have a good lender behind you. It makes a difference when you’re making an offer. Having a good lender and a realtor to advocate for them is huge,” she said.
As the population grows, housing inventory has decreased and home prices are selling well above asking prices. The trend will likely continue in 2022.
Public Notices call Sheree 303.566.4088 legals@coloradocommunitymedia.com
Legals
Public Trustees
PUBLIC NOTICE
Englewood NOTICE OF SALE Public Trustee Sale No. 2021-0036
To Whom It May Concern: On 11/1/2021 3:16:00 PM the undersigned Public Trustee caused the Notice of Election and Demand relating to the Deed of Trust described below to be recorded in Douglas County.
Original Grantor: MELODY L SANTIAGO Original Beneficiary: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. ACTING SOLELY AS NOMINEE FOR UNIVERSAL LENDING CORPORATION Current Holder of Evidence of Debt: Universal Lending Corporation Date of Deed of Trust (DOT): 1/10/2018 Recording Date of DOT: 1/12/2018 Reception No. of DOT: 2018002788 DOT Recorded in Douglas County. Original Principal Amount of Evidence of Debt: $265,567.00 Outstanding Principal Amount as of the date hereof: $257,894.55
Pursuant to C.R.S. §38-38-101 (4) (i), you are hereby notified that the covenants of the deed of trust have been violated as follows: Failure to pay principal and interest when due together with all other payments provided for in the Evidence of Debt secured by the Deed of Trust and other violations of the terms thereof.
THE LIEN FORECLOSED MAY NOT BE A FIRST LIEN.
The property described herein is all of the property encumbered by the lien of the deed of trust.
2006072105, IN THE RECORDS OF THE OFFICE OF THE CLERK AND RECORDER OF THE COUNTY OF DOUGLAS. COLORADO, AND AS DEFINED AND DESCRIBED IN THE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF CANYON CREEK CONDOMINIUMS. RECORDED ON FEBRUARY 25, 2005, AT RECEPTION NO. 2005016274 IN SAID RECORDS, COUNTY OF DOUGLAS. STATE OF COLORADO.
Which has the address of: 8489 Canyon Rim Cir Unit 202, Englewood, CO 80112
NOTICE OF SALE
The current holder of the Evidence of Debt secured by the Deed of Trust described herein, has filed written election and demand for sale as provided by law and in said Deed of Trust. THEREFORE, Notice Is Hereby Given that on the first possible sale date (unless the sale is continued*) at 10:00 a.m. Wednesday, February 23, 2022, at the Public Trustee’s office, Philip S Miller Building Hearing Room, 100 Third Street, Castle Rock, Colorado, I will sell at public auction to the highest and best bidder for cash, the said real property and all interest of said Grantor(s), Grantor(s)’ heirs and assigns therein, for the purpose of paying the indebtedness provided in said Evidence of Debt secured by the Deed of Trust, plus attorneys’ fees, the expenses of sale and other items allowed by law, and will deliver to the purchaser a Certificate of Purchase, all as provided by law. If the sale date is continued to a later date, the deadline to file a notice of intent to cure by those parties entitled to cure may also be extended.
First Publication: 12/30/2021 Last Publication: 1/27/2022 Publisher: Douglas County News Press
Dated: 11/1/2021 DAVID GILL DOUGLAS COUNTY Public Trustee The name, address and telephone numbers of the attorney(s) representing the legal holder of the indebtedness is: Fax #: Attorney File #: 00000008912289
*YOU MAY TRACK FORECLOSURE SALE DATES on the Public Trustee website: http://www. douglas.co.us/publictrustee/
Legal Notice No. 2021-0036 First Publication: 12/30/2021 Last Publication: 1/27/2022 Publisher: Douglas County News Press
PUBLIC NOTICE
Highlands Ranch NOTICE OF SALE Public Trustee Sale No. 2021-0034
To Whom It May Concern: On 10/18/2021 12:42:00 PM the undersigned Public Trustee caused the Notice of Election and Demand relating to the Deed of Trust described below to be recorded in Douglas County.
Original Grantor: MATTHEW R. ESSIG Original Beneficiary: CJZ CAPITAL, INC. Current Holder of Evidence of Debt: CJZ CAPITAL, INC. Date of Deed of Trust (DOT): 5/16/2019 Recording Date of DOT: 5/20/2019 Reception No. of DOT: 2019027353 DOT Recorded in Douglas County. Original Principal Amount of Evidence of Debt: $115,000.00 Outstanding Principal Amount as of the date hereof: $115,000.00
Pursuant to C.R.S. §38-38-101 (4) (i), you are hereby notified that the covenants of the deed of trust have been violated as follows: failure to make payments as required by the terms of the Promissory Note and Deed of Trust.
THE LIEN FORECLOSED MAY NOT BE A FIRST LIEN.
The property described herein is all of the property encumbered by the lien of the deed of trust. NOTICE OF SALE
The current holder of the Evidence of Debt secured by the Deed of Trust described herein, has filed written election and demand for sale as provided by law and in said Deed of Trust.
THEREFORE, Notice Is Hereby Given that on the first possible sale date (unless the sale is continued*) at 10:00 a.m. Wednesday, February 9, 2022, at the Public Trustee’s office, Philip S Miller Building Hearing Room, 100 Third Street, Castle Rock, Colorado, I will sell at public auction to the highest and best bidder for cash, the said real property and all interest of said Grantor(s), Grantor(s)’ heirs and assigns therein, for the purpose of paying the indebtedness provided in said Evidence of Debt secured by the Deed of Trust, plus attorneys’ fees, the expenses of sale and other items allowed by law, and will deliver to the purchaser a Certificate of Purchase, all as provided by law. If the sale date is continued to a later date, the deadline to file a notice of intent to cure by those parties entitled to cure may also be extended.
First Publication: 12/16/2021 Last Publication: 1/13/2022 Publisher: Douglas County News Press
Dated: 10/18/2021 DAVID GILL DOUGLAS COUNTY Public Trustee
The name, address and telephone numbers of the attorney(s) representing the legal holder of the indebtedness is:
JOSEPH A. MURR Colorado Registration #: 14427 410 17TH STREET, SUITE 2400, DENVER, COLORADO 80202 Phone #: 303.534.2277 X 17 Fax #: 303.534.1313 Attorney File #: 8635.007
*YOU MAY TRACK FORECLOSURE SALE DATES on the Public Trustee website: http://www. douglas.co.us/publictrustee/
Bids and Settlements
PUBLIC NOTICE
NOTICE OF CONTRACTORS SETTLEMENT COUNTY OF DOUGLAS STATE OF COLORADO
NOTICE IS HEREBY GIVEN, pursuant to Section 38-26-107, C.R.S., as amended, that on January 30, 2022, final settlement will be made by the County of Douglas, State of Colorado, for and on account of a contract between Douglas County and Martin Marietta Materials, Inc., for the 2021
Asphalt Overlay Project, Douglas County Proj-
ect Number CI 2021-003 in Douglas County; and that any person, co-partnership, association or corporation that has an unpaid claim against said Martin Marietta Materials, Inc. for or on account of the furnishing of labor, materials, team hire, sustenance, provisions, provender or other supplies used or consumed by such contractor or any of his subcontractors in or about the performance of said work, or that supplied rental machinery, tools, or equipment to the extent used in the prosecution of said work, may at any time up to and including said time of such final settlement on said 30th day of January, 2022 file a verified statement of the amount due and unpaid on account of such claim with the Board of County Commissioners, c/o Director of Public Works Engineering, with a copy to the Project Engineer Daniel R. Roberts, P.E. Department of Public Works Engineering, Philip S. Miller Building, 100 Third Street, Suite 220, Castle Rock, CO 80104.
Failure on the part of claimant to file such statement prior to such final settlement will relieve said County of Douglas from all and any liability for such claimant's claim.
The Board of Douglas County Commissioners of the County of Douglas, Colorado,
By: Janet Herman, P.E., Director of Public Works Engineering.
Support local news in your community
Linda Shapley
The importance of local journalism cannot be overstated — it’s what keeps our community informed and connected, day after day, and is a cornerstone of a healthy democracy.
That’s why we’re excited to be one of 26 Colorado newsrooms joining forces to amplify the impact of local journalism — not just in our newsroom, but in communities across our state — thanks to the generosity of the Colorado Media Project and their matching gift campaign.
From Nov. 30 until Dec. 31, readers’ contributions will be matched up to $1,000, for a total of $5,000 in funds for Colorado Community Media. It’s a unique way to make your gift go twice as far.
Thank you for your continued support for our journalists and for supporting the businesses that advertise with us. A local newspaper keeps a local community strong, and we’re proud to perform this service.
With gratitude, Linda Shapley, publisher
To contribute by phone: Please call 303-566-4100 • Monday-Friday 9am-4pm
To contribute by mail please send your contribution to the following address: Colorado Community Media, Attn: VC, 750 W. Hampden Ave., Ste. 225 Englewood, CO 80110
