17 minute read
SEE MARKET
homes shot up over the course of 2021, from a position that many on the Front Range already found unattainable. In Douglas County, the median sold price for a detached home reached $677,000 in November 2021, an increase of more than 20% from the same month a year earlier, according to data from the National Association of Realtors.
Overall, in the metro area, the median detached home price increased from $450,000 to $525,000 year-overyear through October, according to 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 first 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, supplychain 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.
“Inflation is the ultimate silent tax,” Glick said, referencing recent surges in inflation 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 first 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 first wave until early spring,” Reinhardt said.
And even then, the number of homes placed up for sale as the winter thaws into summer selling season can’t keep up with the tremendous demand in the Denver area.
Still, it’s not impossible to buy a new home, Reinhardt said, but it’s important for buyers to have realistic expectations before they jump into the fray. That, and having a strong team in their corner.
“When I give advice to buyers, 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.
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Legals
Public Trustees
PUBLIC NOTICE
Parker NOTICE OF SALE Public Trustee Sale No. 2021-0035
To Whom It May Concern: On 10/26/2021 2:56:00 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: James Donaldson Audette III and Beth Marie Audette Original Beneficiary: Mortgage Electronic Registration Systems, Inc., as beneficiary, as nominee for CitiMortgage, Inc., its successors and assigns Current Holder of Evidence of Debt: FirstKey Master Funding 2021-A Collateral Trust Date of Deed of Trust (DOT): 8/16/2007 Recording Date of DOT: 9/20/2007 Reception No. of DOT: 2007074951 DOT Recorded in Douglas County. Original Principal Amount of Evidence of Debt: $728,000.00 Outstanding Principal Amount as of the date hereof: $672,838.12
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 TIMELY PAYMENTS AS REQUIRED UNDER THE EVIDENCE OF DEBT 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.
Legal Description of Real Property: LOT 37, THE PINERY FILING NO. 23A, AS SHOWN ON MAP RECORDED DECEMBER 31, 1997 AT RECEPTION NO. 9775353, AND AS CORRECTED BY PLAT CORRECTION CERTIFICATE RECORDED JUNE 8, 1998 AT RECEPTION NO. 9843582, COUNTY OF DOUGLAS, STATE OF COLORADO.
Which has the address of: 8438 Owl Roost Ct, Parker, CO 80134-2721
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 16, 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: 12/23/2021 Last Publication: 1/20/2022 Publisher: Douglas County News Press
Dated: 10/26/2021 DAVID GILL DOUGLAS COUNTY Public Trustee
The name, address and telephone numbers of the attorney(s) representing the legal holder of the indebtedness is: AMANDA FERGUSON Colorado Registration #: 44893 355 UNION BLVD SUITE 250, LAKEWOOD, COLORADO 80228 Phone #: (303) 274-0155 Fax #: Attorney File #: CO10817
*YOU MAY TRACK FORECLOSURE SALE DATES on the Public Trustee website: http://www. douglas.co.us/publictrustee/
Legal Notice No. 2021-0035 First Publication: 12/23/2021 Last Publication: 1/20/2022 Publisher: Douglas County News Press
PUBLIC NOTICE
RENOTICED AND REPUBLISHED PURSUANT TO CRS 38-38-109(2)(b)(II) Parker NOTICE OF SALE Public Trustee Sale No. 2017-0171
To Whom It May Concern: On 10/4/2021 7:55:00 AM 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: SHANE A STECKEL Original Beneficiary: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR CHERRY CREEK MORTGAGE CO., INC., ITS SUCCESSORS AND ASSIGNS Current Holder of Evidence of Debt: NEWREZ LLC, D/B/A SHELLPOINT MORTGAGE SERVICING Date of Deed of Trust (DOT): 10/2/2014 Recording Date of DOT: 10/3/2014 Reception No. of DOT: 2014057254 DOT Recorded in Douglas County. Original Principal Amount of Evidence of Debt: $284,050.00 Outstanding Principal Amount as of the date hereof: $274,398.05
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.
Legal Description of Real Property: LOT 4, BLOCK 2, STROH RANCH FILING NO.9C, COUNTY OF DOUGLAS, STATE OF COLORADO.
Which has the address of: 12775 Buckhorn Creek St, Parker, CO 80134
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, January 26, 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: 12/2/2021 Last Publication: 12/30/2021 Publisher: Douglas County News Press
Dated: 10/4/2021 DAVID GILL DOUGLAS COUNTY Public Trustee
The name, address and telephone numbers of the attorney(s) representing the legal holder of the indebtedness is:
HOLLY SHILLIDAY Colorado Registration #: 24423 7700 E. ARAPAHOE ROAD, SUITE 230 , CENTENNIAL, COLORADO 80112 Phone #: (877) 369-6122 Fax #: Attorney File #: CO-20-886541-LL
*YOU MAY TRACK FORECLOSURE SALE DATES on the Public Trustee website: http://www. douglas.co.us/publictrustee/
No. Notice No. 2017-0171 First Publication: 12/2/2021 Last Publication: 12/30/2021 Publisher: Douglas County News Press
PUBLIC NOTICE
To Whom It May Concern: On 11/5/2021 11:53:00 AM 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: JERRY W MAES Original Beneficiary: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR AMERICAN FINANCING CORPORATION Current Holder of Evidence of Debt: PENNYMAC LOAN SERVICES, LLC Date of Deed of Trust (DOT): 7/20/2018 Recording Date of DOT: 7/27/2018 Reception No. of DOT: 2018045396 DOT Recorded in Douglas County. Original Principal Amount of Evidence of Debt: $272,435.00 Outstanding Principal Amount as of the date hereof: $265,570.14
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.
Legal Description of Real Property: LOT 120, COTTONWOOD SUBDIVISION FILING NO. 3, COUNTY OF DOUGLAS, STATE OF COLORADO.
Which has the address of: 8476 Wheatgrass Cir , Parker, CO 80134
NOTICE OF SALE
The name, address and telephone numbers of the attorney(s) representing the legal holder of the indebtedness is:
ANNA JOHNSTON Colorado Registration #: 51978 1391 Speer Boulevard, Suite 700, DENVER, COLORADO 80204 Phone #: (303) 350-3711 Fax #: Attorney File #: 00000008897332
*YOU MAY TRACK FORECLOSURE SALE DATES on the Public Trustee website: http://www. douglas.co.us/publictrustee/
Legal Notice No. 2021-0037 First Publication: 12/30/2021 Last Publication: 1/27/2022 Publisher: Douglas County News Press
Bids and Settlements
PUBLIC NOTICE
NOTICE OF CONTRACTORS SETTLEMENT COUNTY OF DOUGLAS STATE OF COLORADO
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. 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.
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