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Kurt Thomas
Cell:(970) 361-7195
Fax:(877) 832-6502
Cell:(970) 361-7195
Fax:(877) 832-6502
Serving Grand Junction Colorado
| Grand Junction Real Estate Welcome to the Official Grand Junction VIP Real Estate Website! I strive to serve each client by treating them with top notch service. My previous clients are the source of my future business, from the out of state investor that has used my services to purchase multiple homes or a seller requiring professional assistance with selling a small vacant lot. I will speak with honesty and respect to each client, I will not just tell you what you want to hear but inform you with what you need to know. I gauge my ethics based off of the perspective of placing myself in the clients shoes and doing what I would expect from a Real Estate Broker that I have hired.I have been licensed to sell Real Estate since 2002 and have worked in Salt Lake City Utah until 2006 when I began here in Grand Junction Colorado. |
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Home Builders Ramping Up Construction to Beat Tax Credit Deadline
The federal tax credit for homebuyers, both first-time buyers and move-up buyers, expires June 30, 2010 but requires a signed contract to be in place
by April 30, 2010. Some new home builders are taking a chance, hoping that increased buyer demand early this spring will not only absorb all their
current inventory, but also some new homes they are beginning to build now.
The Wall Street Journal recently reported that some builders are starting "spec homes", those built without a contract or a buyer, hoping they will be
placed under contract to beat the tax credit deadline. For resale homes, the urgency is only to get the homes in marketable condition to be ready for
the hoped-for onslaught of buyers.
New homes are a different story. Typically it takes four to six months for a new home to be completed. The tax credit requires that all closings take
place by June 30, 2010. A settlement on a new home means that the home is complete and the buyers are ready to move in, so those homes must
be started at least by the end of February in order to have a chance of completion before the deadline.
Economists are not sure if this tax credit will have the same impact as the 2009 tax credit, which has now been expanded and extended. Some think
that buyers who were considering a home purchase made their move last year. Others believe the impact will be greater in March and April of this
year, as the deadline looms closer.
The housing bubble created havoc for most home builders who at the height were building speculative homes in order to keep up with demand.
When the downturn arrived, these builders were stuck with the spec homes and others with cancelled contracts. That experience made most builders
wary of building any spec homes at all. But now many builders have very little inventory at all and have been building only after a contract is in
place. The resulting lack of ready-to-move-in homes means they need to ramp up construction now, although most say it will be on a small scale,
with just a handful of homes in each community.
The Wall Street Journal reported that John Burns Real Estate Consulting's survey of home builders shows that today, builders have an average of
three finished spec homes per community, down from six finished homes in July 2008.
Builders have changed their strategy with the homes they are beginning now, tending to make them smaller and more affordable since most buyers
are concerned more with affordability than with an abundance of amenities.
Written by Michele Lerner
Grand Junction's apartment vacancy rate quadruples on heels of rise in unemployment
By Margaret Jackson
The Denver Post
Posted: 02/12/2010 01:00:00 AM MST
Updated: 02/12/2010 01:25:38 AM MST
The statewide apartment-vacancy rate held steady during the fourth quarter, but Grand Junction's vacancy rate more than quadrupled from a year
earlier.
Apartment vacancies in Colorado dipped slightly to 7.9 percent, down from 8 percent during the fourth quarter of 2008, according to a survey
released Thursday by the Colorado Division of Housing. Grand Junction's rate soared to 13.2 percent, up from 3.1 percent during the quarter a year
earlier.
"It really just mirrors an increase in the unemployment rate," said Gordon Von Stroh, professor of business at the University of Denver and the report's
author.
Grand Junction led the nation with the largest percentage drop in jobs of any metropolitan area last year, according to a recent Labor Department
report. The number of nonfarm workers in Grand Junction and surrounding Mesa County fell from 67,100 in December 2008 to 61,900 in December
2009, a 7.7 percent decline.
Vacancy rates varied throughout the metro area. In Colorado Springs, the fourth- quarter vacancy rate was 8.7 percent; Fort Collins/Loveland, 6.3
percent; Greeley, 7.4 percent; and Pueblo, 12.2 percent.
The division released a separate report last month for metro Denver, which showed a 7.9 percent vacancy rate during the fourth quarter.
Margaret Jackson:
The federal tax credit for homebuyers, both first-time buyers and move-up buyers, expires June 30, 2010 but requires a signed contract to be in place
by April 30, 2010. Some new home builders are taking a chance, hoping that increased buyer demand early this spring will not only absorb all their
current inventory, but also some new homes they are beginning to build now.
The Wall Street Journal recently reported that some builders are starting "spec homes", those built without a contract or a buyer, hoping they will be
placed under contract to beat the tax credit deadline. For resale homes, the urgency is only to get the homes in marketable condition to be ready for
the hoped-for onslaught of buyers.
New homes are a different story. Typically it takes four to six months for a new home to be completed. The tax credit requires that all closings take
place by June 30, 2010. A settlement on a new home means that the home is complete and the buyers are ready to move in, so those homes must
be started at least by the end of February in order to have a chance of completion before the deadline.
Economists are not sure if this tax credit will have the same impact as the 2009 tax credit, which has now been expanded and extended. Some think
that buyers who were considering a home purchase made their move last year. Others believe the impact will be greater in March and April of this
year, as the deadline looms closer.
The housing bubble created havoc for most home builders who at the height were building speculative homes in order to keep up with demand.
When the downturn arrived, these builders were stuck with the spec homes and others with cancelled contracts. That experience made most builders
wary of building any spec homes at all. But now many builders have very little inventory at all and have been building only after a contract is in
place. The resulting lack of ready-to-move-in homes means they need to ramp up construction now, although most say it will be on a small scale,
with just a handful of homes in each community.
The Wall Street Journal reported that John Burns Real Estate Consulting's survey of home builders shows that today, builders have an average of
three finished spec homes per community, down from six finished homes in July 2008.
Builders have changed their strategy with the homes they are beginning now, tending to make them smaller and more affordable since most buyers
are concerned more with affordability than with an abundance of amenities.
Written by Michele Lerner
Grand Junction's apartment vacancy rate quadruples on heels of rise in unemployment
By Margaret Jackson
The Denver Post
Posted: 02/12/2010 01:00:00 AM MST
Updated: 02/12/2010 01:25:38 AM MST
The statewide apartment-vacancy rate held steady during the fourth quarter, but Grand Junction's vacancy rate more than quadrupled from a year
earlier.
Apartment vacancies in Colorado dipped slightly to 7.9 percent, down from 8 percent during the fourth quarter of 2008, according to a survey
released Thursday by the Colorado Division of Housing. Grand Junction's rate soared to 13.2 percent, up from 3.1 percent during the quarter a year
earlier.
"It really just mirrors an increase in the unemployment rate," said Gordon Von Stroh, professor of business at the University of Denver and the report's
author.
Grand Junction led the nation with the largest percentage drop in jobs of any metropolitan area last year, according to a recent Labor Department
report. The number of nonfarm workers in Grand Junction and surrounding Mesa County fell from 67,100 in December 2008 to 61,900 in December
2009, a 7.7 percent decline.
Vacancy rates varied throughout the metro area. In Colorado Springs, the fourth- quarter vacancy rate was 8.7 percent; Fort Collins/Loveland, 6.3
percent; Greeley, 7.4 percent; and Pueblo, 12.2 percent.
The division released a separate report last month for metro Denver, which showed a 7.9 percent vacancy rate during the fourth quarter.
Margaret Jackson:
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Is there a "Hidden" or "Ghost"
Inventory waiting or come onto the
Real Estate Market? Grand Junction?
Inventory waiting or come onto the
Real Estate Market? Grand Junction?