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Denver Real Estate Today

From the Trenches of Denver Area Real Estate

By Brian Burke -Kenna Real Estate | Agent in 80129

Highlands Ranch Foreclosures - How low can you go?

Highlands Ranch Foreclosures
This part 4 of Highlands Ranch foreclosures report is for bank owned or HUD owned detached residential homes in Highlands Ranch sold in 2009.

Highlands Ranch Foreclosures ~ Original Listing Price vs. Sold Price (%)

78% of the bank owned homes sold in 2009 in Highlands Ranch sold for 90% or more of the original asking price. 33% sold for full listing price or more! Only one house sold for under 80% or asking price. The original list pirce was $189,900 and the net sold price was $149,925.

Foreclosures in Highlands Ranch sold price pie chart

Only 10% of the bank owned homes stayed on them market for more than 90 days - or three months. The original listing prices of these houses started higher and had one or more price adjustments before they were sold.

There is a correlation on days on the market and the percentage of original listing price received.
The longer the house stays on the market the lower the sold price from original list price was - in the vast majority of sales.

The houses that stayed on the market for more than 90 days ended up selling for 10%, 15% or even 20% less than the original asking price.


In 2009 in Highlands Ranch  16 bank owned homes were on the market for 60 or more days. Of those 16 houses 10 sold between 80 and 90% of asking price and six houses sold right around 90%. E.g. a house that was originally listed at $200,000 that could be a price reduction of $20,000 to $40,000.

None of the bank owned houses in Highlands Ranch that were in the market for 60 days or more sold for full price - none.

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Highlands Ranch Foreclosures 2009 ~ Reference Table

Number of Bank Owned Homes Sold 81
Average days on market
36
Average price per square foot $131
% of original list price vs. net sold price   94.9%


This Market Report is brought to you by Rita Burke, Kenna Real Estate. The report is for detached residential single family homes only and may not include all sales activity in the area. Figures for sold prices used are NET sold price, price after seller concessions or down payment assistance, if they were offered. For days on market - current days on market were used. This report or any part of it may not be used without permission from Rita Burke.

*Disclaimer: Data based on information from Metrolist, Inc. Metrolist Inc. does not guarantee nor is any way responsible for its accuracy. Content maintained by Metrolist Inc. may not reflect all real estate activity in the market. Information is deemed reliable but not guaranteed. Reported sales were not necessarily listed or sold by Kenna real estate and are intended only to show trends in the area. Disclaimer: Kenna Real Estate does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Copyright 2010.© Kenna Real Estate. Rita Burke. All Rights Reserved. "Highlands Ranch Foreclosures - How low can you go?"

 

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