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What Do Home Buyers Want?
Zillow released their 2017 Consumer Housing Trends Report last week that looked at the preferences of home buyers by generation, except for Millennials for some reason. Here is a summary of what they found— Xers place high value on family friendly features like the right number of bedrooms and bathrooms, good schools, and private outdoor…
8 Simple Kitchen Remodeling Ideas
This story comes from Curbed.com and is a great article to share with your clients, prospects, and SOI. Here are the 8 ideas— New cabinet coverings Simple island options Take an architectural approach to storage Look for special tiles for a backsplash Choose a statement stove Incorporate cozy and fun seating Create warmth to balance…
The Most Competitive Denver Neighborhoods
Redfin just launched a new metric called the Redfin Compete Score which measures how competitive a city, a neighborhood, and even a home is for buyers. Scores range from 0 to 100 with scores > 90 telling consumers that “most homes get multiple offers, often with waived contingencies.” This score is based on Redfin data…
Real Estate Investing Strategies from Me
In June Charles Roberts at Your Castle Real Estate asked me to record a Podcast with them as they wanted to feature several awesome Loan Officers to come share their business models, real estate investing strategies, and great stories from lending or investing. I can personally guarantee you that no real estate investor can ever…
Is This An Accurate Predictor of Recessions?
One of my favorite national economists Brian Wesbury last week wrote about the fears around a Yield Curve Inversion which many “experts” and economists believe accurately predicts when the next recession is about to happen. Here in the middle of July the yield spread between the 2 year and 10 year Treasury Note has narrowed…
What I Learned from Dr. Yun
I got to hear Dr. Lawrence Yun, NAR’s Chief Economist speak at SMDRA last week and here are some highlights that I heard— He is expecting that 2nd quarter GDP growth will be about 5%, the highest we have seen in a long time. Average hourly wage in Denver is approximately $30 an hour, so…
Should Millennials Rent or Buy in Denver?
The Denver Post had a story last week titled, “With home prices in metro Denver up 65%, renting long-term may not be a bad option”. According to Case-Shiller Denver home prices have risen 65% this decade. Zillow estimates a buyer would need to remain in the home 2.25 years to break even when selling their…
Another Sign of our Strong Economy
This story is from one of my favorite national economists Elliot Eisenberg. “In yet another sign of labor market tightness, the percentage of persons who quit their jobs in May was 2.4%, the highest level since January 2001, and higher than the 2.2% attained during the peak of the Housing Boom. 2.4% translates into 3.56…
3 of the Healthiest Housing Markets Are Here
SmartAsset just released a study on the healthiest housing markets in the country looking at 4 factors: stability, affordability, fluidity, and risk of loss for cities with populations > 200k people. Colorado Springs ranked the 3rd healthiest market, Aurora was #7, and Denver came in #9. Interestingly they said homeowners in Aurora and Denver live…
2 Denver Suburbs Named Best Cities for FTHBs
WalletHub, a personal finance website, assessed factors like housing affordability, real estate tax rates and property crime rates to determine the most favorable housing markets for first-time homebuyers. The company compared 300 cities across 27 key indicators of market attractiveness, affordability and quality of life to determine attractiveness. Centennial ranked the 3rd best city to…
Net Migration is Slowing Down
The Denver Business Journal had a story last week about migration in and out of the state based on U.S. Census Bureau data from 2015 to 2016, the newest data available. CO gained 223k new residents in 2016; but 193k residents left the state; leaving a net gain of 30,000. This is the smallest net…
Why We Are Seeing So Many Price Drops
First Alliance Title/Your Castle RE last week had a great article in their newsletter about our market slowing down with higher days on market and more price reductions. So, is something “wrong” or is this seasonal and “normal”? So, they analyzed home sales between the 4th quarter of 2015 and 3rd quarter of 2017 for…
