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The Future of Interest Rates

The Fed as expected increased short-term rates by ¼%, so that the Prime Rate now stands at 5%. In their statement the Fed said is growing at a “solid rate” instead of “moderate rate. The Fed predicted that the unemployment rate will fall to 3.6% by year end. Thus, a majority of policymakers are now…

Housing Regulation Costs This Much???

The National Association of Home Builders and the National Multifamily Housing Council released the results of a survey of multi-family apartment builders and developers across the country in the 4th quarter. They found that regulatory demands imposed by all levels of government add 32.1% on average to the cost of every apartment building in our…

CO has the 4th Best Economy

WalletHub, a personal financial website just ranked Colorado as the second best state for finding a job for the 2nd year in a row. Only Washington was better. And in another report from WalletHub they ranked Colorado as the 4th best state economy in the country after Washington, California, Utah and Massachusetts.

The Richest Town in CO is…

24/7 Wall Street analyzed data from the Census Bureau’s American Community Survey and they looked at “areas” or neighborhoods that have less than 25,000 people living there. The richest town was the Pinery, south of Parker. Its 12,160 residents have a median household income of $121,615 and 18.5% of households in the Pinery earn $200k…

New Listings Up; Inventory Down

I received SMDRA’s 7 county MLS report last Wednesday and 3 things stood out to me. First, the number of new listings (7,154) was an increase of 7.2% from last May. Second, inventory at end of the month was just 5,439 homes and condos for sale, down 5.6% from last year and down 11.3% from…

3 Solutions for More Construction Workers

I read an intriguing story in a Builder Magazine newsletter last week about the 6 myths or fallacies that they believe are holding back residential home building. The authors cited the fact that about 3.5 million kids graduate from high school each year and about 500k of them never enroll in a degree granting school…

Great Tips for Buyers and Sellers

The Denver Post ran several great stories in the paper beginning June 2nd and this story offered 5 good tips for both buyers and sellers. Buyers’ tips included don’t get in the car to look at homes UNTIL you are pre-approved. They also suggested to look below your max price point because of bidding wars…

Where are Millennials Moving To?

SmartAsset researched U.S. Census Bureau data from 2017 to see where Millennials are moving to and from. Colorado was the 3rd most popular state for Millennials moving to with a net migration of 26,547 people last year. The City of Denver saw a net influx of Millennials of 5,100 last year, good for 8th best…

Denver Gets an A from Millennials

ApartmentList released their 3rd annual Renter Satisfaction Survey of 45,000 renters nationwide in our top 50 largest cities. Renters answered questions about 11 factors, with 4 primary factors—safety, job opportunities, social life, and recreational activities. And Denver scored a B+, good for 11th place out of 50 cities surveyed. Millennial renters gave Denver an A;…

4 Denver Economic Facts You Need to Know

The Denver MMA down assistance program has raised their income limits for all household sizes to a whopping: $125,860. That’s amazing to me that you can down payment assistance to buy a home at this income level. According to credit card research company Magnify Money, Denver is the 4th best city to retire in. Case-Shiller…

Denver’s 8 Hottest Neighborhoods

The Denver Post ran a great story over the weekend titled “Denver’s Hottest Neighborhoods based on data from DMAR, Redfin, Zillow. Here are the hottest zip codes and neighborhoods— 80237—Hampden South and Southmoor Park 80230—Lowry 80223—Athmar Park, Valverde, and Overland 80010—North Aurora, Delmar and Highland Park 80216—Globeville, River North and North Washington 80247—Heather and Windsor…

Do You Want a Rate in the 3’s?

One of our banks just came out with a creative idea, a lender funded temporary buydown to a borrower’s interest rate for the first 2 years of the loan. The first year, the rate is reduced by 2% from the long-term note rate. For the second year, the rate is reduced by 1% from the…