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New Homes in Colorado Beginning at $250k
Aldo Svaldi wrote a great story in the Denver Post on Sunday how one builder in Berthoud is meeting the challenge of building more affordable homes. Mission Homes is building homes with just 900 to 1,200 square feet on about 3,000 square foot lots and pricing them in the mid $200’s. These new homes are…
An Amazing Opportunity to Buy a Home in Denver
I have been thinking recently about our real estate market and where is it headed? This caused me to think about our market a year ago. Who would have thought a year ago that home prices would only be increasing about 2% this year? Second, who thought a year ago that mortgage rates would be…
Big Changes Coming for CHFA Loans
Last week CHFA announced the following changes will go into effect August 19th— Their Advantage program with 3% down and no MI will no longer be available. Their Preferred program and Preferred Plus program will have much lower income limits to 80% the home’s county median household income. Metro Denver’s household median income is $92,800.…
How to Make Denver’s Housing Problems Worse
After voters in Lakewood approved a 1% cap on new housing growth on July 11 Front Range counties are looking at growth limits via one initiative, said Teo Nicolais. Teo basically told an audience that you can’t restrict supply of new housing and make rents or prices more affordable. TRUE! The State Demography Office is…
Zip Codes Where Home Values Have Soared by 100%
The Denver Business Journal had a great story last week on home value increases by zip code since 2009 using data from Zillow. The zip codes that saw the biggest increases shared these 3 common traits. First, prices plunged in these zip codes during the Great Recession. Second, these 6 zip codes have some of…
“Denver Remains a Top Destination for Millennials”
Aldo Svaldi wrote a great story for the Denver Post on Sunday that Denver is still a magnet for Millennials. In 2017, 65% of metro Denver’s out-of-state movers into Denver were Millennials, tied for 6th highest rate in the country. But, only 10% of recent Millennial movers purchased a home here. In Denver metro Millennials…
Will Interest Rates Drop Long-Term?
One of my favorite newsletters to read every week comes from John Mauldin who is a great economics thinker and investor. Plus, he hangs out with a ton of very smart people like Lacy Hunt. When writing about Japan and their massive QE experiment over the last nearly 30 years, he tells us that “massively…
“Why Houses in Denver Sell Quickly or Take Forever”
This was the title of a great story at Westword from April 23rd written by Michael Roberts. Michael interviewed 3 agents from RE/MAX—Amy Berglund, Lori Abbey, and Steve Kinney. Here is a sample of what each of them said. First is Amy— She listed a historic home built in 1886 in NW Denver last spring…
Denver Apartment Demand is Through the Roof
The Apartment Association of Metro Denver and DU released their first quarter apartment vacancy report. And demand for apartments is incredibly strong! Builders delivered 3,959 new apartment units in the first quarter and tenants absorbed an amazing 5,552 new units!!! This strong demand caused the vacancy rate to drop to 5.4% from 5.8% at the…
When Home Prices Rise Too Quickly, They Must Fall
Sunday’s Denver Post had a great story written by Aldo Svaldi on how hot housing neighborhoods have gone cold and vice versa according to a ranking of 90 metro area zip codes from DMAR using first quarter data. According to DMAR only 7 metro area zip codes showed price declines last year in the first…
Keller Williams Will Be an iBuyer Too
Keller Williams announced last week that they will join OpenDoor and Zillow and become an iBuyer of homes. Their program is called Keller Offers and Keller Williams will make instant offers to homeowners with one of their agents acting as a fiduciary for the seller working on their behalf. They will launch Keller Offers next…
Gen Z Eager to Buy Homes
Bank of America surveyed Generation Z, those born since 1996, and discovered that 59% of them between the ages of 18 and 23 want to buy a house in the next 5 years and more than half have already started to save money to buy one. BofA also found that this young generation of adults…
