Doctor Yun, Chief Economist for the National Association of Realtors, was in Denver at the end of April and shared lots of Data with the local Denver community of Realtors. His over all opinion of the Data was positive for the Housing Market for Denver and for our Nation as a whole. Below are some Data Points for you to browse from his speech:
We lost 8 mil jobs in the recession and have since added 12 mil
unemployment insurance claims at a 15 year low
Denver alone has added about 300,000 jobs since 2010 (could explain low inventory)
Household net worth at all time high Nationally
Vacation home Sales have doubled in the past two years
Pent up demand for housing is at an all time high, construction still sluggish
Since 2000 our population has grown by 37 million in 2014
2000 New Homes Sales 880 K vs 2014 New Home Sales 440K
Average income is on the rise in Denver and while there have been negative pressures from the Engery sector the other parts of our economy are doing enough to offset them
36% of all US folks Rent this number will trend higher as loans continue to be difficult to get and because we don’t have enough inventory for the 1st time home buyer sector.
The Landlord market will stay strong in Denver until we have enough rental units to keep pace with our population growth. This could be awhile.
Construction has been slow to re-bound in Denver mainly because of lack of land and backlogged city construction permits.
Looking for rates to be higher in 2016
Continued low inflation rates
Just some points from his talk…if you would like the slides I am happy to provide them to you! Just send me an email at email@example.com and I will get them over to you in a jiffy!
Denver-area home-resale prices rose an average 9.1% in March from a year earlier, and also were up 1.4% from February, reaching an all-time high level, according to the latest S&P/Case-Shiller report. The Denver area’s year-over-year price gain was the same as in February, and marked the 15th straight month with a year-over-year price increase of 8.9% or more. Denver metro area home prices were up 9% year-over-year in both January and December 2013.
But while home prices in metro Denver edged down 0.1 percent between January and February, they rose a robust 1.4 percent between February and March, topping the average gain for 20 cities tracked by the closely followed Case-Shiller report series from S&P Dow Jones Indices LLC, based on non-seasonally-adjusted data.
March was the 27th consecutive month with a year-over-year gain in Denver prices, according to Case-Shiller data.
Data taken from The Denver Businss Journal May 2014
When considering the “Right” time to sell your home please take a moment to consider the Winter Months…..the advantages are real and often overlooked. Take a look at our list and let us know what you think!
Your Realtor usually has less clients to work for, therefore he/she can deliver a more specialized service to you.
January is traditionally one of the biggest moving months of the year.
Corporations like to move their employees during the first months of the year.
Interest Rates are still low..we are still looking at 40 year lows but, they are on the rise.
Buyers looking now are very serious
By selling your home during the winter you may have the opportunity of being the “first dibs” house of the Spring market.
Less Selling Competition- Enough Said.
Selling now could set you up to be a non-contingent buyer in the spring. This makes your offers very attractive; you will be ready to Pounce on your Dream Home.
With the new normal of house buying starting with an Internet Search, your property looks just as good now as it will in the spring or fall.
About 20% of all home sales take place between November-February. Sellers and Buyers are motivated to get the deal done during these months.
We hope you find this helpful~ if we can help you or anyone else with any Real Estate questions please email/text/call us anytime!
The market for rental property is hot and getting hotter here in Denver. Check out this article today in the Denver Post. We have one of the hottest zip codes in the country for returns on rental property. Give us a call today at 303-908-2330 or 303-907-1984 and we can show you how you can capitalize on this trend.
Look likes the inventory decline continues for October Y/Y we are down 5-6%. Our Sold Market is up 13% from last year this month and the average sold price is up 9% too! Our Days on Market, however are way down in the 30% range. So the Market in comparison to recent years past is just a great place to be.
Kirby Slunaker, CEO and president of Metrolist, said that although the market has slowed somewhat, sales, inventory level and average home prices have changed “very little from prior months, keeping the market nearly as competitive as the hot summer months.
“While the market has slowed down slightly as one would expect, the numbers are incredible,” said Slunaker in a statement. “Increasing inventory spurred on by hot early season buying will continue to provide buyers with more and varied opportunities.”
The slight changes indicate that home prices and strong sales will occur throughout the fall and winter months, said Metrolist.
Metrolist added that average mortgage rates continue to remain low and steady, which will result in a “busy local real estate market well into 2014.”
Please call or text anytime 303-908-2330/303-907-1984 if we can help with any real estate information!
Willie and I have moved 2 times in the past year with 20 plus years of stuff including grown kid stuff too! So when I came across this article last week… I thought this is a subject that overwhelms us all, whether you move frequently or if you are moving for the first time in 20 years! They really do help to keep the inevitable “moving fatigue” at bay longer. Hope these help and if you have any of your own please comment!
1. Start Early
No matter how good you are, packing always takes longer than you think. Start 2 -3 weeks ahead of moving day and pack what you use least, first. 2. Pack Strategically
Mark the boxes you will need first with a star or a specific number. Pack some change of clothes, sheets and towels in an extra suit cases for easy access on your first day. 3. Have a Packing Room/Area
Pick the space used the least in your home or by a door and use this as your packing station. Keep all of your packing supplies and sealed boxes in this area to help keep your space feeling organized. 4. Be as Green as Kermit the Frog- Used Boxes are the Trick
Uhaul has started “Take a Box, Leave a Box” you can use the boxes for free and return the gently used ones for someone else. Make sure to ask your Realtor to see if they know folks with used boxes. 5. Don’t make your boxes Heavy
People always think using big boxes and filling them so that they are so heavy that they break or are unmovable is the way to go. Use the big boxes for lighter items and the smaller boxes for heavy items. 6. Don’t Pack and Move Air
Many folks empty dressers, chests and suitcases out before moving, don’t. Use those spaces for your stuff. When a dresser or chest is full you get less load shift during your move. Use every space you can. 7. Trashbags are a moving Treasure
People think boxes are great because they stack, but bags are great because they squish into places boxes won’t fit! Pillows, sheets, towels some toys..you get the idea. 8. Keep Hanging Items Hanging
You can lay these flat in your car and hang them in the new space easily. No need for a moving truck for your hanging stuff. 9. Use your blankets for Wrapping
Wrap your artwork, furniture, mirrors etc.. with blankets. They are washable on the other side. 10. Label on Two Sides
Label your boxes on two sides and mark them with specific rooms too. This helps with the unloading process like you would not believe. 11. Be Ready
Have everything packed, furniture taken apart and rugs rolled up and taped. This will cut down on your moving bill and helps the movers stay on track too.
If you are doing this yourself, load the heaviest items in the front of the truck on the floor and then load to the top of the truck. Start another section the same way and so on.
We hope these tips are helpful…please don’t hesitate to call if we can help!