Larry Sprouse, Real Estate Agent

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Elevated Life Real Estate Elevated Life Real Estate
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Colorado's Real Estate Market Update is here! ... see more
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Elevated Life Real Estate
Elevated Life Real Estate
7 followers
3d • 3 days ago

We love to keep up to date with the market and share our expertise and knowledge. If you haven’t already, go check out our website. We have a whole section of our site dedicated to keeping up with the housing market both nationally and regional. Find blogs like “Is It Enough To Offer Asking Price in Today’s Housing Market?”, “Myths About Today’s Housing Market”, “Why This Housing Market Is Not a Bubble Ready To Pop”’ and much more!

https://lnkd.in/eSTvqpFH



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Market Recap | Elevated Life Real Estate | Denver Real Estate Agents For more information, don't hesitate to contact them today!

April Market Recap 2022 From Elevated Life Real Estate. Please click on link below:

https://elevatedlifere.com/market-recap

FOR THE WEEK OF MAY 9, 2022




QUOTE OF THE WEEK


“Treat everyone with politeness and kindness, not because they are nice, but because you are.”—Roy T. Bennett, American author






NATIONAL MARKET UPDATE



Residential construction spending rose 1.0% in March to an $882.0 billion annual rate, an 18.4% gain over a year ago. For single-family homes, construction spending is up 19.4% the past year.

Part of that spending increase is due to the cost of building supplies. The National Association of Home Builders says that lumber prices raised the price of a typical single-family home more than $18,600 in a recent four month period.

The Mortgage Bankers Association forecasts mortgage rates “are likely to plateau near current levels. The financial markets have attempted to price in the impact of Fed actions over this cycle, and…the economic slowdown that will result.”






REVIEW OF LAST WEEK



GOOD FED, BAD FED... The stock markets suffered another week of losses as investors wondered: was the Fed's half percent rate hike--the largest in 22 years--good for inflation but bad for the economy?

The market rallied Wednesday after Fed Chair Powell said three quarter percent hikes were off the table, quelling concerns big hikes would spark a recession. But stocks sank Thursday on fears the Fed wasn't being tough enough on inflation.

Friday, we got a decent April jobs report--though labor force participation fell, signaling a need for higher wages to attract workers to the record number of job openings. Of course, that would lead to more inflation!

The week ended with the Dow down 0.2%, to 32,899; the S&P 500 also down 0.2%, to 4,123; and the Nasdaq down 1.5%, to 12,145.

Inflation-hating bonds took a heavy hit, the 30-year UMBS 4.5% down 0.87, to $100.30. Lower bond prices signal higher rates, so the national average 30-year fixed mortgage rate was up 17 basis points in Freddie Mac's Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.

DID YOU KNOW… Attom Data found that from 2011 to 2021, home sales closing in mid-to-late May went for the highest price premium of the year. The best day to close was May 23 when homes went for an 18.3% premium!






THIS WEEK'S FORECAST



INFLATION ADVANCES, JOBLESS CLAIMS, CONSUMER SENTIMENT RECEDE... Inflation is expected to keep rising in March, though at a slightly slower pace in both the Consumer Price Index (CPI) and the wholesale Producer Price Index (PPI). Initial Unemployment Claims should drop, but so will University of Michigan Consumer Sentiment, still posting historical lows.






FEDERAL RESERVE WATCH



Forecasting Federal Reserve policy changes in coming months. Last week, the Fed said it would stick to half percent rate hikes at each of the next three meetings. Wall Street at the moment is buying that scenario. Note: In the lower chart an 83.4% probability of change is an 83.4% probability the rate will rise.

AFTER FOMC MEETING ON: CONSENSUS
Jun 15 1.25%-1.50%
Jul 27 1.75%-2.00%
Sep 21 2.25%-2.50%
Probability of change from current policy:

AFTER FOMC MEETING ON: CONSENSUS
Jun 15 83.4%
Jul 27 98.3%
Sep 21 64.7%




BUSINESS TIP OF THE WEEK


A host of studies confirm multitasking makes us more prone to errors. You think you’re multitasking, but you’re just juggling a bunch of tasks and not paying enough attention or taking enough time to complete each task properly.

March Statistics

Single Family Average

$793,445
0221-arrowup-lg
Up 19.8% YoY

Condo/Townhome Average

$493,167
0221-arrowup-lg
Up 21% YoY

March Ushers in the Spring Selling Season
March continued the trend of very high demand, an overall shortage of inventory and sky-rocketing home prices. The Spring market is starting with a big bump in new listings - March saw an increase of 42.4% as compared to last month - but they are moving very quickly with just 11 days on market, on average.



Buyers are facing high prices - the average price for a single family home in March was $793,445 (an increase of 8% over last month) and the percent closed price to list price jumped to an astounding 106.5% from 104.8% from February. In March, 21% of closings were cash buyers.



It will be interesting to keep an eye on interest rates as that could quell demand.



Key highlights for March are below.

Supply - Active Listings
Active listings saw an increase of 31.6% over February - a welcome sign for buyers - but this number is still down as compared to the previous 3 years.

1,925
Active Listings
0221-arrowndown-sm
33.9%
YoY
1-Apr-01-2022-03-03-10-84-PM

New Listings
March saw an increase in new listings. New listings are in-line with 2019 and saw an increase of 42.4% when compared to February.

5,784
New Listings
0221-uparrow-sm
5.9%
YoY
2-Apr-01-2022-03-04-44-54-PM

Demand - Pending Sales
Demand remained high in March and increased 26% when compared to February.

4,970
Pending Sales
0221-arrowndown-sm
6.4%
YoY
3-Apr-01-2022-03-05-54-05-PM

Average Price per SqFt Single-Family
The average price per square foot for single family homes was also at an all-time high, up 23.1% YoY and up 5.1% as compared to last month.

$309
Avg PPSF
Single Family
0221-uparrow-sm
23.1%
YoY
4-Apr-01-2022-03-07-33-26-PM
Average Days in MLS
While new listings are coming onto the market, they are moving very fast. In fact, the average is just 11 days for March.

11
Days in MLS
0221-arrowndown-sm
38.9%
YoY
5-3
Percent of Closed Price to List Price - All-Time High!
Buyers in March were willing to pay, on average, 106.5% over the list price (an increase of 1.7% as compared to February). This number peaked much earlier in the year than normal.

106.5%
Closed to List Price
0221-uparrow-sm
3.1%
YoY
6-3
Greater Metro Denver includes the following counties:
Arapahoe, Adams, Broomfield, Denver, Douglas, Elbert and Jefferson
Reports are based on information from REColorado®, Inc. for the period shown in title. Note: This representation is based in whole or in part on content supplied by REColorado®, Inc. REColorado®, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by REColorado®, Inc. may not reflect all real estate activity in the market. •Information deemed reliable but not guaranteed.
© 2022 Land Title Guarantee Company. All rights reserved.
Mortgage Data Source: Freddie Mac

The February Market Stats are out and homes continue flying off the shelves at record pace!

​

For the third consecutive month, the number of listings in the Active status across the 11 County Greater Denver Metro area has fallen below the 2,000 mark. The month of February closed out with just 1893 housing units available, the lowest number of listings we’ve seen in the month of February since 2014. As could be expected, the shortage of inventory will continue to drive housing prices up even more. Home prices ticked up yet again, pushing the median sales price in February 22% higher than last February and an astonishing 44% higher than only three years ago. Homes priced between $600,000 - 800,000 are in extremely high demand, exploding up 39% from last February. The current amount of time it takes a new listing to move to the Pending status in the MLS dropped by one day during the month of February to 4 days. This means more than half of all available homes in the Denver Metro Area that sold during the month were under contract in 4 days or less. This goes to show that home buyers are prepared and making offers quickly when they see something that they like. With the spring selling season right around the corner, everyone’s hope is that we see an abundance of new listings hit the market. Otherwise, be prepared to tighten those seatbelts and get ready for yet another high speed Spring and Summer!

ALL ABOUT ENERGY-SAVING DOUBLE-PANE WINDOWS




The energy efficiency of a home becomes more and more important as we seek ways to reduce our consumption of energy sources and cut increasing energy costs. One of the most effective ways to reduce energy consumption in a home year-round is to install double-pane windows. In addition to being energy efficient, they also reduce noise coming in from outside.








A little bit of history. In 1947, the Pittsburgh Plate Glass Company (now PPG Industries, Inc.) introduced double-pane glass windows. Before this, people installed storm windows each fall and removed them in the spring. The air between the home’s window and the removable storm window functioned as insulation against cold air coming in during winter. Since storm windows were removed in summer, there was no provision for keeping hot air out or preventing cool air from escaping, and central air conditioning was not yet universally available for residential use.







How they work. In double-pane windows, the space between the two panes of glass is filled with a dense, non-toxic gas that decreases and slows the transfer of energy. Argon gas is the one most commonly used. Krypton gas, denser than argon, is even more energy efficient. Other gases used include xenon, nitrogen, and oxygen. To reduce the need for air conditioning, Low E (low emissivity) coatings are applied on the exterior pane to reflect outside heat and solar energy. This tinted glass reduces glare from the sun and stops heat from entering the window.







The advantages. Double-pane windows will lower your utility bills and make it easier to maintain comfortable room temperatures when outside weather conditions are changing. These eco-friendly double-pane windows also prevent condensation (moisture) from forming on the inside of windows, and block outside noise. Over time, the savings you realize on heating and cooling costs should more than return your initial installation cost. Plus, double-pane windows add value to your home when it comes time to sell. Please note that all of your home’s windows must be double-paned to get the benefits.





Energy EfficiencyEfficentcy

How to evaluate double-pane windows. The “U” value, or heat value, of a double-pane window is the measure of its effectiveness. The lower the “U” value, the better the window’s insulation and the greater its efficiency. Another measure of the effectiveness of double-pane windows is the “R” value, or heat resistance value. Single-pane windows score an “R” value of 0.85; double-pane ones range from 2.7 to 3.6—more efficient by far. Over time, argon gas can leak at a rate of 1% per year; leaks or compromised v***r locks and seals can develop. Fortunately, window specialists can repair window frames and insert new gas to correct these problems.

The Real Estate Market 3/8/22

Here are key market highlights from February:

February saw even lower inventory, increased demand and high prices. In fact, February saw only 1,148 active listings in the seven metro counties – a 20.3% decrease over last month. ​
Month's Supply of Inventory (MSI) decreased to 0.23 months – a decrease of 19.6% month-over-month.​
The average sold price for detached single family homes in February was $735,912 – a 8.5% increase month-over-month.​
The percent sold to list price for detached single family homes was 105.24%.​
So, what are the key takeaways? It continues to be an extremely competitive market with days on market down to 14.5 days – a decrease of 23.68% month-over-month. Pending sales did increase (up 13.51% over last month) and so did Solds (up 12.79% over last month) for both ASF and DSF. ​

2111-GreaterDenverMarketReportIcon-average-sal-price
Average Sales Price
The average sales price in February for detached single family (DSF) homes was up 17.96% YoY to $735,912 and attached single family (ASF) homes was up 13.75% YoY to $451,570.

2111-GreaterDenverMarketReporticon-average-days-on-mls
Average Days in MLS
The average days in MLS in February in the metro area was down 23.68% over January 2022 to 14.5 days.

2111-GreaterDenverMarketReporticon-activelistings
Active Listings
Active DSF listings in February in the metro area were down 38.43% YoY to 782 homes, and active ASF listings were down 66.24% YoY to 366 units.

2111-GreaterDenverMarketReporticon-pendinglistings
Pending Listings
Pending listings in February in the metro area were up 13.51% over January 2022 and down 9.26% as compared to February 2021.

2111-GreaterDenverMarketReporticon-closedlistings
Closed Listings
Sold listings (ASF and DSF) in February in the metro area were down 14.74% YoY to 3,246.

Castle Rock, CO
Mon Feb 07 2022
This week the median list price for Castle Rock, CO is $820,000 with the market action index hovering around 82. This is an increase over last month's market action index of 74. Inventory has decreased to 62. Click here to stay informed with the Castle Rock market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
82
82
Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile
Never miss important changes in the Castle Rock market.
Median List Price
$820,000
Median Price of New Listings

$825,249
Per Square Foot

$219
Average Days on Market

73
Median Days on Market

21
Price Decreased

11%
Price Increased
35%
Relisted
6%
Inventory
62
Median Rent
$2,835
Market Action
82
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Feb 2019
Jun 2019
Oct 2019
Feb 2020
Jun 2020
Oct 2020
Feb 2021
Jun 2021
Oct 2021
Feb 2022
$500K
$550K
$600K
$650K
$700K
$750K
$800K
$850K
$900K
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,892,000 6,238 2.5 - 5 acres 5 6 16 3 2 70
$881,459 4,594 8,000 - 10,000 sqft 4 4 1 6 5 28
$701,390 3,644 6,500 - 8,000 sqft 4 3 1 6 7 7
$591,417 1,762 6,500 - 8,000 sqft 3 2.5 1 3 8 14

Castle Rock, CO
Mon Jan 31 2022
This week the median list price for Castle Rock, CO is $701,390 with the market action index hovering around 80. This is an increase over last month's market action index of 71. Inventory has held steady at or around 66. Click here to stay informed with the Castle Rock market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
80
80
Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile
Never miss important changes in the Castle Rock market.
Median List Price
$701,390
Median Price of New Listings
$627,445
Per Square Foot
$215
Average Days on Market
68
Median Days on Market
18
Price Decreased
12%
Price Increased
35%
Relisted
8%
Inventory
66
Median Rent
$2,845
Market Action
80
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Feb 2019
Jun 2019
Oct 2019
Feb 2020
Jun 2020
Oct 2020
Feb 2021
Jun 2021
Oct 2021
Jan 2022
$500K
$550K
$600K
$650K
$700K
$750K
$800K
$850K
$900K
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,678,500 5,946 1 - 2.5 acres 4 5 15 4 3 73
$830,475 4,266 6,500 - 8,000 sqft 4 3 1 4 5 49
$635,000 3,270 4,500 - 6,500 sqft 4 3 1 7 5 14
$579,000 1,635 4,500 - 6,500 sqft 3 3 6 10 12 0

https://openhouse.propertypath.com/properties/180999

Please come visit during the Open House Saturday Jan. 29th and Sunday Jan. 30th from 10-2 pm. 5295 S Cody Street in Littleton, CO. 2 bedroom, 2 bathroom, 2 car garage, 1472 Sq Ft. $610,000.

5295 S Cody Street, Littleton, CO 80123 Rare find in Parkside Patio Home area of Governors Ranch neighborhood. Parkside is a quiet small tucked away area of Governors Ranch. This ranch style home offers 2 bedrooms 2 bathrooms and bonus room on the main floor. This is truly main floor living with the laundry area enclosed off the kitchen a...

Castle Pines Stats for this week:

Castle Pines, CO 80108
Wed Jan 19 2022
This week the median list price for Castle Pines, CO 80108 is $872,419 with the market action index hovering around 65. This is an increase over last month's market action index of 61. Inventory has held steady at or around 13. Click here to stay informed with the Castle Pines market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
65
65
Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile
Never miss important changes in the Castle Pines market.
Median List Price
$872,419
Median Price of New Listings
$893,409
Per Square Foot
$232
Average Days on Market
28
Median Days on Market
0
Price Decreased
8%
Price Increased
15%
Relisted
8%
Inventory
13
Median Rent
$4,600
Market Action
65
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Jan 2019
Jun 2019
Oct 2019
Feb 2020
Jun 2020
Oct 2020
Feb 2021
Jun 2021
Oct 2021
$400K
$600K
$800K
$1.0M
$1.2M
$1.4M
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,400,000 6,269 0.25 - 0.5 acre 5 5 16 2 1 0
$959,990 4,091 0 - 4,500 sqft 4 4 0 2 0 0
$865,000 4,268 0.25 - 0.5 acre 3 3 1 2 1 0
$739,221 3,577 4,500 - 6,500 sqft 4 3 11 1 0 31

2741 Poplar Grove Place, Castle Rock, CO 80109 Welcome to 2741 Poplar Grove Place in the popular Meadows neighborhood. This rare ranch style home is ready for you to move in and make yours! Enter through the covered front porch into a large open living/family room. Cozy up by the gas fireplace or enjoy hosting your friends and family. Travel int...

Dickey and Trudy have become great Neighbors and more importantly Great New Friends in our community of Tapestry Hills in Castle Pines, CO. We are so fortunate to have them living right across the street from us! Welcome to the community Friends!

What's Happening in CASTLE PINES this week:

Castle Pines, CO 80108
Wed Jan 12 2022
This week the median list price for Castle Pines, CO 80108 is $804,043 with the market action index hovering around 66. This is an increase over last month's market action index of 63. Inventory has decreased to 8. Click here to stay informed with the Castle Pines market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
66
66
Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile
Never miss important changes in the Castle Pines market.
Median List Price
$804,043
Median Price of New Listings
$1,185,000
Per Square Foot
$204
Average Days on Market
52
Median Days on Market
56
Price Decreased
13%
Price Increased
38%
Relisted
13%
Inventory
8
Median Rent
$4,600
Market Action
66
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Jan 2019
Jun 2019
Oct 2019
Feb 2020
Jun 2020
Oct 2020
Feb 2021
Jun 2021
Oct 2021
$400K
$600K
$800K
$1.0M
$1.2M
$1.4M
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,292,500 6,354 8,000 - 10,000 sqft 5 6 17 2 0 0
$898,001 4,180 0.25 - 0.5 acre 3 3.5 1 0 1 63
$754,563 3,200 0 - 4,500 sqft 4 3.5 1 1 1 45
$665,684 2,937 0.25 - 0.5 acre 3 2.5 14 0 0 98

Castle Rock, CO
Mon Jan 10 2022
This week the median list price for Castle Rock, CO is $738,025 with the market action index hovering around 71. This is an increase over last month's market action index of 65. Inventory has decreased to 82. Click here to stay informed with the Castle Rock market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
71
71
Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Real-Time Market Profile
Never miss important changes in the Castle Rock market.
Median List Price

$738,025
Median Price of New Listings
$745,000
Per Square Foot
$228
Average Days on Market
70
Median Days on Market
35
Price Decreased
13%
Price Increased
44%
Relisted
5%
Inventory
82
Median Rent
$2,845
Market Action
71
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Jan 2019
Jun 2019
Oct 2019
Feb 2020
Jun 2020
Oct 2020
Feb 2021
Jun 2021
Oct 2021
$500K
$550K
$600K
$650K
$700K
$750K
$800K
$850K
$900K
Oct 15 20217-Day Average: $785,00090-Day Average: $774,623
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,737,500 5,946 1 - 2.5 acres 4 4.5 15 6 5 52
$800,714 4,131 6,500 - 8,000 sqft 4 3.5 1 8 8 52
$668,579 3,530 4,500 - 6,500 sqft 4 3 1 5 5 35
$556,275 1,800 4,500 - 6,500 sqft 3 2 1 9 9 0

TODAY'S RATE S​​NAPSHOT

3.375%

CONVENTIONAL 30-YEAR FIXED RATE

Purchase transaction. APR: 3.518%. $385k loan, 80% loan-to-value, 780 credit score.

2.5%

CONVENTIONAL 15-YEAR FIXED RATE

Purchase transaction. APR: 2.675%. $385k loan, 80% loan-to-value, 780 credit score.

2.875%

FHA 30-YE​AR FIXED RATE

Purchase transaction. APR: 3.131%. $464k loan, 96.5% loan-to-value, 650 credit score.

2.75%

VA 30-YEAR FIXED RATE

Purchase transaction. APR: 3.03%. $385k loan, 100% loan-to-value, 740 credit score.

3.625%

JUMBO 30-YEAR FIXED RATE

Purchase transaction. APR: 3.734%. $1M loan, 80% loan-to-value!, 780 credit score.

ALL RATES EFFECTIVE 01/07/2022 AT 9:04AM MST.

Individual rates will vary based on borrower specifications.

Note: This is not a commitment to lend. Loans are subject to borrower qualification and underwriting guidelines. Program parameters are subject to change without notice.

Helpful Tips for TAX SEASON:


TIME TO GET READY FOR TAX SEASON




There are real advantages to getting your tax return done early. If you get a refund, you will receive your money sooner. If you owe taxes, you will know how much money to save and have more time to plan financially before the April 15 payment deadline. Filing early also might lessen the risk of tax identity theft. This occurs when a thief who has stolen your identity files a fraudulent return to get a refund, so your subsequent legitimate return is rejected by the IRS. Here’s how to get started to file well ahead of April 15, 2022.








Gather all income information. Make a list of all sources of income (check last year’s tax return). You likely will not have all the forms yet, but here are some you could need: W-2 forms from employers, with earnings, federal and state tax withholdings; 1099-Misc from freelance clients; 1099-G if you received unemployment benefits; 1099-Div or 1099-Int from every financial institution where you have an account that paid you a dividend or interest income; 1099-R for money received from an annuity, IRA, or pension; Schedule K-1 for income received as part of a partnership. Note: this is not a complete list. Other income information may include alimony; rental property income and expenses; Social Security benefits; a Required Minimum Distribution (RMD) from an IRA; miscellaneous income (e.g., jury duty, scholarships, gambling winnings).







Decide whether to take the standard deduction or to itemize deductions. The standard deductions for 2021 increased to: $12,550 for single filers and married filing separately; $18,800 for head of household; and $25,100 for married couples filing jointly. Click here for more information on deductions, including for those over 65 or blind. When you file, you have the option of taking the standard deduction or itemizing your deductions one by one. Itemizing is more work, but it’s worth it if the itemized deductions exceed the amount of the standard deduction. The following are some examples of itemized deductions.







Consider itemizing deductions, such as: Mortgage interest, real estate and personal property taxes; energy-saving home improvement costs; health insurance, doctors, dentists, and hospital costs; tuition to educational institutions, other education expenses, and student loan interest; state and local taxes; charitable contributions; and business deductions if you’re self-employed. You may also be able to deduct unreimbursed moving expenses for business, and Health Savings Account (HSA) contributions. If you’re allowed to contribute to an IRA or Self-Employed Pension (SEP) plan, you can do that up until April 15 to lower your taxable income. There are all kinds of limits on these deductions — find more information here.







Do it yourself, or hire a tax professional. To maximize tax savings, it may be worth it to work with a tax advisor. This can be advantageous if you own your own business, are self-employed or an investor, or if you had any major life changes during 2021, such as a marriage, divorce, birth or adoption of a child; the purchase of a home; or if you collected unemployment benefits. In addition to helping you with tax deductions and tax strategies for the future, a tax professional can be available if the IRS ever decides to audit your return.

Note: This article is for informational purposes only. For tax, legal, or financial advice, always consult with the appropriate tax, legal, or financial professional.

Castle Pines Numbers this week for Real Estate!

Castle Pines, CO 80108
Wed Jan 05 2022
This week the median list price for Castle Pines, CO 80108 is $799,000 with the market action index hovering around 65. This is an increase over last month's market action index of 59. Inventory has decreased to 7. Click here to stay informed with the Castle Pines market!

Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.

Buyer's
Market
Seller's
Market
0
10
20
30
40
50
60
70
80
90
100
Today
Today
Last Month
Last Month
65
65
Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.

Real-Time Market Profile
Never miss important changes in the Castle Pines market.
Median List Price
$799,000
Median Price of New Listings

$0
Per Square Foot
$212
Average Days on Market
70
Median Days on Market
56
Price Decreased
29%
Price Increased
43%
Relisted
14%
Inventory
7
Median Rent
$4,600
Market Action
65
Strong Seller's Market
Click for more charts
Median List Price
Market Segments
Click and drag in the plot area to zoom in.

7-Day Average
90-Day Average
Jan 2019
May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
Jan 2021
May 2021
Sep 2021
Dec 2021
$400K
$600K
$800K
$1.0M
$1.2M
$1.4M
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments
Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$959,990 4,091 0.25 - 0.5 acre 4 4 1 0 1 56
$880,501 4,611 0.25 - 0.5 acre 3 3.5 1 0 1 49
$768,026 3,195 6,500 - 8,000 sqft 3 3.5 18 0 2 77
$665,684 2,937 0.25 - 0.5 acre 3 2.5 14 0 0 91