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11K New Home Permits in 2020
In The Denver Post on July 25th was a front page story in the business section about new home construction in Colorado written by Aldo Svaldi. His story includes data from the nation, our state, and the Front Range and I will focus on the latter. Aldo said, “Metro Denver is only back to around…
RE Stats You Should Know
Pending home sales which measures signed contract on existing homes dropped by 1.9% in June and contracts are down 1.9% year over year as well. There is just so few homes to buy across our country currently. · New home sales which measures signed contracts on new homes dropped 6.6% from May. Why are new…
Should You Own Stock in a Chinese Company?
I read this recently in a column written by John Mauldin whom I read every week. Mauldin writes, “The Chinese government will no longer give US market regulators, any of the regulating bodies, the power to inspect the audits of Chinese companies listed on US exchanges. There are at least 248 Chinese companies, listed on…
The Apartment Market is on Fire Too
DU’s Daniels College of Business released their 2nd quarter apartment vacancy and rent report. The apartment market changed dramatically! · The vacancy rate dropped from 5.5% in the first quarter to 3.7% in the second quarter. That’s a drop of 33%!!! I have never seen such a BIG change! · Median rent increased by 6.5%…
The Fed is in Fantasy Land
Now the other side of the inflation debate. This is from Jesse Felder, who is a top economic thinker and former hedge fund manager. · He cites Andrew Brigden, of Fathom Financial Consulting, who said, “It is becoming increasingly apparent that the pickup taking place in inflation is cyclical.” Thus, inflation will NOT be transitory…
Long Term Rates Will Keep Dropping
Lacy Hunt and Hoisington Investment Management recently released their second quarter report on inflation and Treasury yields. Here is a summary of what they wrote- · Higher debt levels reduce the Velocity of Money which in turn reduces GDP growth long-term. · “Debt-financed government spending has only a limited and temporary stimulative effect.” · Why?…
Help For Borrowers Exiting Forbearance
President Biden announced last week new policies for borrowers in forbearance who have a FHA, VA, or USDA loan. There are about 1.75 million borrowers still in forbearance with 25% of them still having made their mortgage payments. For borrowers who can resume paying their mortgage their missed payments will be moved back to the…
A Death Blow to FHA Loans
On July 9th on Friday night a senior staffer at Ginnie Mae, the guarantor of mortgage bonds for FHA and VA issued a new edict on capital requirements for mortgage companies who service FHA loans. If this edict or rule goes into place I am reading and hearing of several severe consequences. · First, this…
Top Searched Home Features
Realtor.com surveyed more than 1200 people who plan to buy a home in the next year at the end of March and early April. Realtor.com also analyzed the most frequent keywords searched on their website in the first 5 months of 2021. Here are the most important or desired features- · Quiet location at 28%…
Why Your Clients May Need to Sell Their Home
Since home sale prices have increased over $100k in the past year and prices are up about $400k in the last 10 years I had this thought. Should you sell your home now for tax purposes and savings? On your primary residence if you lived in your home for the last 2 years, your capital…
It’s 33% Easier to Buy a Home Now
I receive the Showings Chart every month from First Alliance Title and June’s chart really stood out to me. This year on average over 20 buyers looked at a home before it went under contract in January through April. In April the average home received 21 showings and last month it was down to 14.…
Less Danger of Foreclosure
The number of people in forbearance dropped 4% at the end of June to 1.9 million homeowners in forbearance. This number has been declining for 18 consecutive weeks and is expected to drop more in July. And 25% of people leaving forbearance have been making their mortgage payments on-time while in forbearance. This is a…
