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Buyer Demand Continues to Soar

I received the December REColorado report for the 7 county metro area last week and here is what I learned- Buyers and sellers closed on 4,136 properties last month, a big increase of 18% from December 2018 and even a 2.2% increase from December 2017. But, we had even more closings in 2015 and 2016…

How Should We Respond to Zillow?

Hopefully, consumers will reject this business model on the biggest transaction in their lives. I am sure Baby Boomers will and I expect Gen X will strongly resist this model. But, Millennials who have grown up with the internet and technology are much more likely to embrace this model I believe, UNLESS you and I provide…

More Bidding Wars in 2020

Redfin is predicting that the national housing market will gain strength in 2020. Why? They expect mortgage rates to remain below 4%. Daryl Fairweather, Redfin’s chief economist said, “Low mortgage rates started to revitalize the market at the end of this summer, but we won’t see their full impact on demand for housing until next year.…

Loan Limits Rise

In national housing news, the Case-Shiller Home Price Index was released last week for the month of September and it revealed that home prices nationally rose 3.2% year over year. And their 20-city index saw appreciation of 2.1% year over year. This index measures the prices of all homes sold in a month to their…

6 Reasons to Be an Economic Bull

One of my favorite economists is Brian Wesbury with First Trust and he is still very bullish on our economy. Why? First, corporate profits are still increasing. Second, the M2 money supply is growing at an annualized pace of 9.2%. Third, the Fed has cut short-term interest rates and appears to have no interest in…

4 New Housing Trends for the 20’s

I recently read a very engaging article about the future of new housing for the next decade written by George Casey who chairs the Housing Innovation Alliance and is the CEO of Stockbridge Associates, LLC. Here are some of his predictions-   Housing demand will continue to out-strip housing supply for a good part of…

VA Loans with NO LENDER FEES

We just eliminated all our lender fees on VA loans and this saves your client over $1,000. Thus, a veteran’s closing costs with us are only about $2,100. Plus, our rates are amazing on VA loans. Every lender I have worked for charged 25 bps more to the price of a loan for a VA…

Should the Government Intervene More in Housing?

Redfin released the results of a survey they completed in June of 3,000 U.S. residents who bought or sold a primary residence in the last year, or plan to in the next 12 months and they asked these 3,000 people about government intervention in the housing market. Here are the results- 34% said they support…

Will The U.S. See Negative Interest Rates

I read a story about this discussion last week by fund managers and strategists at the Reuters Global Investment Outlook 2020 Summit. The consensus of these people is that we will NOT see negative interest rates. Why? First, we have seen the negative effects of negative interest rates in Europe and Japan. Second, these “experts”…

Millennials Want A Trophy Home First

Clovered, a home insurance resource recently surveyed more than 1000 consumers about their wants for their first home to learn which features and amenities mattered the most to them. Millennials thought their ideal home size was 3,320 square feet, just slightly bigger than Gen X. Still, that is a HUGE home! Millennials #1 preferred style…

Denver Home Prices Could Rise 5% in Next Year

My Observations and Thoughts— The number of new listings is basically flat over the last 2 years. Whereas, earlier this year the number of new listings was still increasing year over year. This is no longer happening. Under contracts increased a whopping 23% last month after rising 16% in August!!! Buyer demand is GROWING! This…

This Metric Tells Me Higher Home Prices Are Coming Soon

Here is some year to date data. Even with an increase in supply demand is rising as measured by under contracts. New listings have totaled 54,530 this year, an increase of 4.7% over a year ago and the highest number of new listings in the last 5 years. Under contracts have totaled 44,981 this year,…