Local Denver real estate news and stats

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. For…

I read last week from James RE Services that developers are currently building 25,700 new apartment units across metro Denver and another 27k are proposed to be built years further out. These 25k units will be completed over the next 2 years. Since 2013 developers have been pulling at least 10,000 permits a year every…

I received our 7 county RE market report from Smdra last Monday afternoon after I had already written my newsletter for the 7th. Here are some of the major numbers— 4,943 homes and condos exchanged hands at the closing table in July. This is down 3.7% from last July and down 2.8% from 2 years…

I read a great story at CO RE Journal on how hot demand is for land in metro Denver. Mike Kboudi, senior managing director at the Denver office of Cushman & Wakefield said, “There has never been a time in Denver area history when there has been so much interest to buy property for residential…

I read this story in the CO RE Journal about our apartment market in the second quarter. Gary Bruteig’s Apartment Appraisers & Consultants has taken over the creation of the quarterly apartment report. The vacancy rate dropped by 0.61% to 5.2% in the 2nd quarter Average money rent rose 3.9% from a year ago to…

Zillow announced last week that Denver will be the 4th city in which homeowners can ask Zillow to make them a cash offer for their home. Within 2 days of receiving the offer Zillow will make a no-obligation cash offer or they will pass. If the offer is accepted Zillow buys the home, prepares it…

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…

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…

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…

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…