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7 Home Remodels to Avoid

In this video I discuss the 7 mistakes we see people make including finishing the basement and converting a small 2-bedroom home into 1 bigger bedroom upstairs. I also know that window replacement costs vary hugely by company and its easy to overspend. This is a good video for you to share with your clients.…

My Thoughts on the Current Market

Since June 2020 when our RE market “re-opened” after COVID shutdowns we have had 1 month of inventory or less of homes for sale. For the last 23 months we have averaged 0.57 months of inventory. What has happened to median sold home prices (attached and detached)? · Median sold prices are up on average…

Denver is the 2nd Hottest Real Estate Market Right Now

Here is the latest 7-county RE Stats report for the month of April courtesy of Jennifer Costello at REColorado and SMDRA · 4,867 properties sold and closed last month, down 6.3% from last April and up 32% from April 2020; but remember 2nd quarter numbers from 2020 were skewed down because of Covid. · April…

Tales of Inflation

Last week Minneapolis Fed President Neel Kashkari said he’s confident the Fed can get inflation back down to their 2% target, but it will take longer than expected as their only tool is to lessen demand. The Fed can’t help increase supply of goods, products, and commodities. But, he was confident last year that inflation…

Did We Gain or Lose Jobs in April?

The Bureau of Labor Statistics released their Jobs Report last Friday and here are the details- · Our economy created 428k new jobs last month according to the employer survey. · The household survey showed 353k job losses while the labor force decreased by 363k which kept the unemployment rate steady at 3.6%; but for…

Are Home Prices Overvalued?

Moody’s Analytics last week reported that 96% of 392 MSAs are overvalued and 149 of them are overvalued by 25% or more including Denver at 35% overvalued. Mark Zandi their chief economist believes that home price appreciation nationally a year from now will show ZERO appreciation across the country and some areas may see 5%…

When Will Denver Home Prices Drop?

One of the top questions or comments I am receiving from consumers is when will Denver home prices drop as I may wait to buy until this happens. I bet you are getting these questions and comments too. Metro Denver real estate prices have dropped twice since 1970 and we will take a deep look…

Apartment Vacancy Rate Remains Less Than 5%

The Apartment Association of Metro Denver released their first quarter apartment vacancy report last week and here are some stats for us- · The vacancy rate remained at 4.3% in the first quarter matching the 4th quarter. The vacancy rate a year ago was 5.5%. · Average apartment rent last quarter was $1765, an increase…

Is Crypto Just One Big Ponzi Scheme?

Last week Sam Bankman-Fried founder of FTX, a huge crypto exchange, and one of the most prominent figures in the crypto space, shocked the world by describing “yield farming”-crypto’s makeshift alternative to traditional bank lending-as a Ponzi scheme. The author of this story Greg Barker described crypto’s only way to make money is for prices…

The Fed Caused a Rally in the Mortgage Bond Market

I can’t remember the last time the Fed and Chairman Powell caused the mortgage bond market to rally after one of their meetings; but it happened yesterday. Larry Kudlow who worked for Paul Volcker back in the 70’s said today that Chairman Powell is NO Paul Volcker as his comments and the Fed’s action plan…

Home Prices Have Increased by 5.75% a Year Since 2006

For the last 2 years we have been talking endlessly about how fast home prices have been rising as the average sale prices of a single-family detached home last month was $792k. Is this price too high? In 2006 the average sale price of a single-family detached home was $322k. If home prices had never…

Why Are Homebuyers Unsuccessful?

The NAHB Economics Team released a report recently on what home buyers are thinking and doing after searching for a home unsuccessfully for the last 3 months as of March 31st– · The #1 reason (48%) why they haven’t bought yet is they can’t find a home at a price they can afford. · 34%…