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Inflation Might Get Much Worse
One of my favorite people to read every week is John Mauldin and here is what he wrote based on his trusted contacts in Shanghai that has been in a 3-week complete Covid shutdown– “This is what three weeks of downtime does. Ships arrive and can’t unload or be loaded because the workers who would…
Tips in How to Write Winning Offers
I recently held a class titled How To Write Winning Offers with First Alliance Title and Greg Parham. Here are some ideas I learned that you might find interesting- · Ask your buyers this question-“Are you willing to operate within the parameters of current market conditions? · Buyers need to see and understand the clauses…
A Bill to End Junior Debt in Metro Districts
House Bill 22-1363 will be heard on the 26th in its first House committee. My biggest concern for the last 2 years is the junior debt being issued and held by the developers or people close them. This bill would provide some much needed Metro District reforms such as- · Would give local governments more…
The Fed Has Caused Uncertainty
I read a lengthy article from Housing Wire on how the Fed’s retreat from the mortgage bond market is causing short-term uncertainty or even panic. The Fed quit purchasing new mortgage bonds in early March and mortgage rates were 4% and are now over 5%. Now the Fed wants to quit purchasing mortgage bonds that…
Here’s Why The Housing Market Needs Higher Rates
This was a big story on Housing Wire after they interviewed Logan Mohtashami. Logan cites the only tool to cool off the housing market is higher mortgage rates especially when supply keeps dropping. Thus, we must slow down demand and the best and only way to do this is higher mortgage rates. Logan is correct,…
Mortgage Rate May Hit 6% This Year
The Fed last week shook up the markets BIG-TIME, first with comments from Vice Chair Lael Brainard last Tuesday. Lael is considered a strong “dove” so her comments were shocking to say the least. She said the Fed needs to start reducing its balance sheet as soon as May and that they will shrink their…
Metro Denver Is Barely Growing
The U.S. Census Bureau reported that from July 1, 2020 to July 1, 2021 that the Denver metro area population only increased by 683 people to 3,241,942 when you include Boulder County. Our state grew by 27,761 people to eclipse 5.8 million residents. Here is the county by county count- · Denver-down 6,167 residents ·…
Why Shopping Around For a Mortgage Lender By Rate Can Be Dangerous
I am being rate shopped recently much more often than before I think it’s because rates have risen so far so fast and consumers can’t believe how high rates are. So, they call around hoping someone has a rate in the 3’s still. Is selecting a mortgage lender by who has the lowest rate a…
Mortgage Lending May Get Tighter Soon
A large non-QM lender that we work with just shut down their correspondent division. Eeks! They did keep their wholesale division open. Angel Oak Mortgage one of the largest non-QM lenders last week announced that they rescinded all their rate locks and were forcing borrowers to relock their rate at today’s current much higher rate.…
8 Things First Time Home Sellers Get Wrong
Here is a shareable story for you for your first-time home sellers that I saw on Realtor.com. Here are the 8 items- 1. Overpricing your home as the list price is used “to drive interest in the property.” 2. Skimping on home showings 3. Not professionally staging your home 4. Seeing only dollar signs-don’t forget…
Our Jobs Recovery Rate is 100%
Our state lost 375k jobs in March and April 2020 due to Covid and since then our state has added back nearly 382k jobs in the past 22 months putting our job recovery rate at 102% and CO is one of only 11 states to reach 100%. As of February our state’s unemployment rate was…
A New Construction College Has Been Created
According to the CO Construction Education Foundation our state needs 45k new skilled construction workers by 2027. Because of this a new college was created last November called Western States College of Construction to help train workers in fields like electrical, plumbing, HVAC, pipefitting and sheet metal work. This college was created by various trade…
