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It’s Better To Rent Than Buy in Denver?
Florida International University’s College of Business just released a report that said 16 of 23 major cities in the country are now a better place to rent than to buy. Why? They believe that renting and reinvesting the money not spent on ownership will outperform owning and building equity in terms of wealth creation. …
Our Land Market is Red Hot
I attended a BIG residential and commercial land conference on the 23rd and here is a sample of what I learned— In the vacant land market the #1 question is “how high can prices go?” Still demand exceeds supply and on great pieces of land the seller will receive multiple offers. In the last 12…
“Labor Shortages Are Not Going Away…”
The Associated General Contractors of America just released a survey of 88 construction firms in CO to learn more about the labor market. Ken Simonson, chief economist with the AGC said, “Labor shortages are not going away anytime soon.” Here is a summary of what they found— 92% of them need to hire more skilled…
“Agents Compete, You Win”
I learned recently about a new website/platform that allows consumers to choose the best agent for them, whether buying or selling a home. It’s called UPNEST and their slogan is “Agents Compete, You WIN.” Here is the criteria that is used to help a consumer choose an agent— Top Producer Neighborhood expert 10 years of…
Home Price Appreciation is Slowing Down
According to the June Case-Shiller Home Price Index, metro Denver home prices rose 8.3% in June from last June, down from the 8.5% appreciation rate we saw from May 2017 to May 2018. Nationally home prices rose 6.2% in June from a year earlier. It’s good to see appreciation rates slow down a little bit.…
Colorado Has the Best Economy
24/7 Wall Street ranked Colorado’s economy as the BEST state economy for the 2nd year in a row. Why? Four reasons. First, our 5 year average GDP growth is 2.7% (4th best). Second, our unemployment rate is just 2.7% (3rd lowest). Third, our annual job growth for the last 5 years has been 2.4% (5th…
Nearly 7 Months to Build a Home
The U.S. Census Bureau reported that it took on average 6.9 months for a production builder to build a home in our country last year. Here in metro Denver it’s close to 9 months. The time frame to build has been increasing since 1971 when it only took 4.4 months to build a home. Why?…
Zillow Predicting a Buyer’s Market by 2020
Zillow surveyed more than 100 RE economists and experts for their housing predictions. They are predicting that national home price appreciation will average 5.9% this year with a slow down to 3% or less in 2020. They are also predicting a Buyer’s Market for the nation in 2020. At the national level we have…
“What’s Wrong with Housing in America?”
Last week Home Builder Magazine ran 4 stories titled “What’s Wrong With Housing in America?” by Scott Cox, principal at Denver Colorado-based SLC Advisors, a home building, land development and investor consultancy that manages company level investments, housing and community development projects and repositioning/work-outs. Scott, is a licensed architect with broad experience in banking, development…
Small Business Owners are Giddy
The NFIB Small Business Optimism Index rose to its second highest level in the survey’s 45-year history to 107.9 in July, just a whisker away from its record-high of 108 set back in July 1983. Small businesses are one of the backbones of the U.S. economy and employ millions of Americans. “Small business owners…
4 Rental Stats You Need to Know
The U.S. Census Bureau tells us that over the 10 years from 6/30/07 to 6/30/17, the number of “renter” households in the USA increased by 8.4 million to 43.4 million while the number of “owner” households increased by just 0.9 million to 76.1 million. According to Zillow 50% of the residents of the City of…
Homes are Affordable, Look at the Facts
According to CoreLogic the mortgage delinquency rates in CO for the month of May are as follows— 30 days or more late dropped to 1.8% this year from 2.1% last year. 90 days or more late dropped to 0.5% this year from 0.7% last year. Foreclosure rate is 0.1% down from 0.2% last year. …
