01/17/2023 #NewNormal #What’sNext

This week and next Tuesday, our blog post will be abbreviated.

Market data will not be presented, but look for a complete January recap on the 31st.

Stay tuned, and thank you…tc

Posted in Denver Residential Real Estate | Tagged | Leave a comment

01/10/2023 #Habits #WaltLongmire #DenverRealEstate

This weekly post is a great #Habit. It keeps us in tune with the market. It allows us to always be ready with conversation points. Finally, it gives us an historical perspective. All of these are valuable to a #Realtor’s world.

Walt Longmire: “If there wasn’t trouble I wouldn’t be here.” This quote reminded me of what I heard very early in my real estate career, with a little twist however. The way I heard it, “The clients problems gives you purpose, reason and a job…”. Well, this is certainly true.

This week in #DenverRealEstate is worthy of our review. Here is the SFR composite for the last 7 days.

New Listing (674) Certainly not a race to the market in large numbers…
Coming Soon (82) Certainly no help here either.
Back On Market (202)
Price Increase (145)
Price Decrease (716) This is very telling. Sellers/Brokers are not anticipating….
Pending (772) Not a bad week for so early in the year.
Withdrawn (161)
Leased (48)
Closed (643) Buyers and Sellers are still finding their way to the closing table…
Expired (215)
The Last 7 Days for SFR Listing in Denver Metro

Below you find some additional graphics and conversation about #Denver’s inventory.

Last week we had 4,058 SFR Listing Active in our marketplace. This week we have 4,280 Active SFR Listings. We have clearly not advanced to a “Spring Marketing Season” yet…

In the end, everyone needs some sort of shelter. One’s economic prowess has a direct impact on the location and expanse of its appeal. Living under a bridge might find comfort in a large box or a tent. Having been CEO of Amazon might allow you to build a $500M yacht to circumnavigate the Earth.

Shelter is essential and center to our safety and comfort. The joy of homeownership will not leave us anytime soon. Let’s talk about your plan. We are here to help…tc

Posted in Denver Residential Real Estate | Tagged | Leave a comment

01/02/2023 #AlrightAlrightAlright #TheWayWeWere #What’sNext

2022 Is in the books. Trite but true; it was the best of years, but also the worst. Maybe… You’ve probably read, heard or listened to a dozens or more “Year in Review” specials. This one will be different. We are Denver Real Estate, and that’s what you’ll get here. But, you may get bits and pieces of me too! Alright?

In this episode you’ll see the way we were and where we are now. Additionally, I’ll add my own insight, and I’ll offer my own prognostications. So let’s get started.

How did Denver finish the year?

New Listing (306) Always low this time of year.
Coming Soon (67) Next week, this will balloon!
Back On Market (152)
Price Increase (47)
Price Decrease (425) Sellers still trying to get it right.
Pending (451) In spite of it all, buyers and sellers are still finding each other!
Withdrawn (145)
Leased (62)
Closed (752) Not a bad week for this Season!
Expired (1371) The great reset to follow…
The Last 7 Days in Denver.

Now, how did the Denver SFR Market finish out 2022?

As you can see from this chart above, we ended the year with only 4,058 SFR Listings which is average for the last 10 years this chart tracks, however, this is well above 2021 and 2020 which in my mind were anomaly years due to unusually low rates and the effects of a “Covid” market.

So, I’m going to go out on a limb here and say, “Denver’s SFR Market will be subject to “more of a NORMAL MARKET”. More of a balance, more sanity, more fairness, NOT a Seller’s Market, but also, NOT Buyer’s Market either.

From The Cryer Team to you, Happy New Year 2023.

Please don’t hesitate to contact us…tc

Posted in Denver Residential Real Estate | Tagged | Leave a comment

12/20/2022 #Grateful #CCC #Colorado #HappyHappy

Grateful is a word tossed around non stop these days. I’m grateful for, I’m blessed for this, and I’m proud to be included. For the Cryers, this could not be more valid. Our family has managed Covid, we’ve had a wonderful 2022, and I’m personally grateful for, personally blessed with and so proud to be a part of such a great family!

We have to stop here and say thank you!

Finally, MyTownCryer.com will be closed until 2023. Look for new posts on Tuesdays throughout the year. Here’s a clear, concise and cogent note on Colorado. Happy New Year! May all your trails be beautiful…tc

Colorado

Net Migration: 39,200
Population: 5,607,200
Median Household Income: $68,188
Job Growth: 2.7%

Colorado has a young, educated labor supply and a migrating population that is attracted to its robust economy and outdoor recreational opportunities. At 41%, Colorado adults have the second highest level of college attainment, behind only Massachusetts. The percent of the population age 25-34 is also second highest in the U.S. Colorado is expected to have the second fastest job growth over the next five years, per Emsi data.

Posted in Denver Residential Real Estate | Leave a comment

12/13/2022 #FTX #Comingle #Crypto

Good Morning Everyone,

We live in the best of times, and the worst of times. Hard to believe in 2022 there are still wars. On the other hand, we are just a few hours away by plane from the most exotic and distant beaches in the world. And, then there is SBF. Who knew a man with the name Bankman would be accused with one of the biggest rip offs in modern times?

The fallout from FTX, and their commingling of funds has had a severe impact on Crypto Markets. This is not over, and I feel the waters will run deep on this one. Depending on how closely FTX and SBF are connected to the “deep state”, this could have a tornado like swath across a broad path. Someone will squeal, don’t you think?

Which is a perfect segway (not really) to this week in Denver’s Residential market. Let’s take a look!

New Listing (730) Very low. We are now in the holiday season!!!
Coming Soon (33) Nothing to look forward too…
Back On Market (193)
Price Increase (107)
Price Decrease (961) Sellers still searching for the secret price sauce.
Pending (873) Surprising number so late in the year. Well beyond new listings!
Withdrawn (245)
Leased (66)
Closed (766) Buyers and Sellers finding their way to the closing table…
Expired (299)
Another Strong Week, but The Numbers Are Seasonally Low.

Next week will be a reflection of 2022 and my prognosys for 2023. So, be patient and take a quick look at inventory.

As you can see, we have fallen inline with all previous years except for last year. The lack of supply in 2021 was an abortion, and what we are experiencing now is what’s more typical. Let’s always keep our perspective. The Sky Is Not Falling…tc

As we approach year’s end, next week will be our last post of the year, and the first post of 2023 will be January 3rd, 2023. Safe travels…tc

Posted in Denver Residential Real Estate | Leave a comment

12/06/2020 #Don’tQuitYourDaydream #Backyard #PlanB

Good Morning America,

When you hear or read “Homeownership is Dead”, do not believe it! Homeownership will outlive Blackrock’s home buying spree, and the #Daydream of ownership will survive! Who really wants to live without a #Backyard? Really???

So, #PlanB is really about the enjoyment of #homeownership. It’s not the size of the home, it’s the home in the home. Do you get me? Probably not. The backyard might be a balcony, the parking lot or the park down the street. Either way, you’re not the only one competing for ownership. Funds on Wall Street are buying houses, lots and apartments.

Americans for Financial Reform estimates that, as of June 2022, private equity firms owned real estate rented by around 1.6 million households. This includes at least 1,071,056 apartment units, 275,468 manufactured home lots, and over 239,018 single-family rental homes.Jul 27, 2022

But, I digress. What’s going on in Denver this week?

New Listing (744) No dramatic change from last week here.
Coming Soon (56)
Back On Market (246)
Price Increase (101)
Price Decrease (1202)
Pending (868) Actually, this is quite strong coming off a holiday week.
Withdrawn (278)
Leased (61)
Closed (1118) Wow, month end activity and December’s start is reportedly strong here!
Expired (676) Let’s quit for the holidays???

Based on the season, interest rates and inflation, I could argue this market is warding off everything thrown at it. It’s a great time to find “your neighborhood”…

Overall, Supply and Demand remain in check. There is not real damage being done for the time being by these higher rates. Keep in mind, whenever the market throws you lemons, look around for some sugar; lemonade can’t be far behind.

We have not seen inventory this low since late May or early June of this year. At 5,361 Active SFR Listings right now, the ratio of sales to inventory is predicting a Days on Market for December in or around 30 DOM. This is historically a very good market environment. I’m not reporting we have nothing to worry about, there is always something to worry about, but “Henny Penny” the sky is not falling…tc

We are here for your residential needs. We’re The Cryer Team, and Denver is our market… TheCryerTeam@Kentwood.com

Posted in Denver Residential Real Estate | Tagged | Leave a comment

We are updating our Privacy Policy

Zillow Group
Zillow Group is committed to being transparent about how we use your information to create a seamless experience for you. Because the landscape of data privacy laws is constantly evolving, we’ve updated our Privacy Notice to make it easier to understand, to provide the clarity you deserve, to add information about new features and services, and to ensure it reflects new laws and regulations which take effect next year.
What’s new?
We’re excited about the new features and services we’ve been working on and have included details about how they use your information and data to make things easier for you when using our products.
We’ve rewritten the Privacy Notice to clearly outline the types of information we collect, where that information comes from, how we use it, and with whom we share it to improve your experience with our services and products.
We’re updating our privacy portal to give you more control over your information. In addition to seeing what information about you we’ve collected and requesting that we delete that information, you can now exercise greater control over your information, including the ability to request that we correct inaccurate information about you, and the ability to limit the processing of certain types of personal information.
Feel free to look at our complete Privacy Notice and contact us if you have any questions. Other than that, you don’t need to do anything. The updates go into effect on January 1, 2023.
Thank you for trusting us to be a partner in your home journey.
Zillow Trulia
Hotpads StreetEasy
Posted in Denver Residential Real Estate | Leave a comment

11/29/2022 #FIFA #WorldCup #Broncos #Inventory

What do #FIFA and #Broncos have in common? I’ll leave the answer to you, but my goodness, watching a #Bronco Game is simply painful.

This week’s theme is #Inventory, or simply put, the lack of it. Additionally, we will talk about the demand side a little too. “Where have all the buyers gone, long time passing…”

Looking back over 2022, Sales vs. Listings we can learn a lot. More Listings, More Sales, Fewer Listings Fewer Sales. Is it just that easy?

First, the chart above is telling us, we are ending the year with about the same number of closings with which we started the year. This is healthy. In spite of interest rates, and elections, supply shortages and more, we still have a “healthy” market in Denver. As always, this is the 11 counties including Denver we consider as Metro Denver. Much maligned as rapidly growing inventory and over supply, we have about the same number of listings as we did in 2020, 2019 and 2018 going into December. No oversupply here, and quite healthy from a historical perspective. And, it is telling us that 2021 was really an anomaly where market conditions of incredibly low supply artificially altered the course of this market.

Denver Metro still has an incredibly healthy economy. No major layoffs announced here, hiring is still a thing, airport traffic is still strong, transportation/distribution still strong, tourism still strong, university student enrollment still strong, and population growth still strong. Let’s explore this over the last week now.

New Listing (426) This is incredibly low. AS you can see, about 50% more listings went Pending than came on the market.
Coming Soon (59) This will not help us next week; it’s just too low!
Back On Market (143)
Price Increase (75)
Price Decrease (763)
Pending (672) Considering the number of new listings coming to market, this number is incredibly strong!
Withdrawn (222)
Leased (58)
Closed (651) And, once again, Buyers and Sellers are finding their way to the closing table even during a holiday week. This is a good market!
Expired (200)

I will caveat all this by saying, BUYERS are scared. Interest rates and the market “topping out” are weighing heavy on their psyche. SELLERS on the other hand have a different problem. “Do I lower the price now, or wait till next year? Rates will be better then.” Decisions, Decisions, Decisions…

It’s a complicated market, it demands a lot from both buyers and sellers. This is where we come in. We’ve been there. Market cycles are constant in our market, but we still have buyers, we still have sellers and we are assisting both with their needs in a complex Denver Metro Market…tc

If you have questions, call us! Dee and Tom Cryer 303-773-3399 TheCryerTeam@Kentwood.com

Posted in Denver Residential Real Estate | Tagged , , | Leave a comment

11/22/2022 #NewTwitter #AtlasShrugged #Tyrus #HillbillyElegy

Good Morning Folks!

So much has happened in the last week! Taken all at once, it is mighty tough to take. As Warren Zevon wrote, “Send Lawyers, Guns and Money…”. Probably not the best metaphor, but…

Let’s start with #NewTwitter. With the advent of @ElonMusk in ownership, @Twitter is not the same! I have been a @Twitter user ever since I figured out what a #Hashtag was. It does a great job of aggregating current events quickly. It allows me to follow someone of my interest. It facilitates keeping in the know. I have to tell you, it is different now. I’ve seeing search results and tweets from topics and people I’ve never seen before. It seems wide open. The wild west if you will…

Books I recommend. I am going to recommend #AtlasShrugged ’til the day I die. I believe it is that important. Many believe if you read and like #AtlasShrugged it is unhealthy. They have not read it in the context of today’s current events. #Tyrus is a book about @Tyrus written by @Tyrus. The life and times of George Murdock. Not everyone had a childhood like me, and @Tyrus has his own story. Read it. Or, listen to it, he reads his own book. Finally, J. D. Vance wrote Hillbilly Elegy in an attempt to tell his story and the story of #Opioids and their impact on an entire community. It’s a good read. Much better than the movie. And, in current events, J.D. was just elected as a Senator from Ohio. I’m not one to preach, but if one was to read or listen to these three books, one would have a much better appreciation for current events. Remember, #AtlasShrugged was written in 1957. #JeffBezos is in it, #ElonMush is in it, recognizable people in politics today are in it, and the constant friction between economic classes is in it. It’s today written in 1957.

That’s enough of me #proselytizing. This week in Denver’s MLS System, the numbers are clearly heading into the Holiday Season!

New Listing (730) “Where have all the sellers gone, long time passing…”
Coming Soon (30)
Back On Market (208)
Price Increase (149)
Price Decrease (1253) Sellers and Brokers still finding their way, but slowly…
Pending (965) A pretty strong number. This is cleaning up year end inventory!

Withdrawn (260)
Leased (50)
Closed (1035) Buyers and Sellers finding their way to the closing table.
Expired (304) A few still giving up each week.

Long story short here; buyers are still looking and making deals; sellers are slowly giving up and hoping for next year to be something bigger. Tough call on these plans. Will rates be down. Will employment numbers in Denver remain strong. Will the prevailing interest in the market stay the same for both buyer and seller? Only time will tell. Stay Tuned!

Let’s take a fresh look at inventory one more time.

Let’s check in on how many Active Listings we have this morning.

And, year over year, it looks like this with just 5,467 Active Single Family Residences.

As you can see, we ended last year with unusually low SFR inventory, but we have been normalizing throughout the year. As noted above, 5,467 Active Listings is not only a healthy number for Denver, it represents a slight opportunity for buyers. If rates were to stabilize at a lower level than today, which they could, we will continue to see Denver as one of the most healthy markets around…tc

TheCryerTeam@Kentwood.com

303-773-3399

Posted in Denver Residential Real Estate | Tagged , , | Leave a comment

11/15/2022 #TuesdayVibe #Aggregators #MortgageRates #Homeownership #ElectionResults

Welcome, Good Morning, Ride Along!

As we move well into Q4, there is a lot to talk about.

First of all, #TuesdayVibe. In the Real Estate business, maybe more so than any business, there are “Coaching Legends”. Let’s see, Tom Hopkins, Howard Britton, Tom Ferry, Brian Buffini, and many more. What does this have to do with Tuesday? Some weeks, I sit down, and this post is finished in 15 minutes. This morning, after a fabulous weekend, I was at a loss for words. Then I saw this. “You don’t know what you’ve lost until its gone”…

And why is this? I don’t know, but as the Mandalorian would say, “This is the way”.

#Aggregators, whether you know it or not, are ruling your life. News, Data, Image, Entertainment, and just think about it; almost everything in our lives is ruled by aggregators. Your food? Yep! The grocery store you visit has brought together the items it feels you will be more attracted to while selling more items. News, yep! Keep this in mind. Even Real Estate is aggregated for you. Health Care, yep… You name it, it has been bundled and delivered to you in a manner the provider understands to be the most attractive and productive. Not all real estate aggregators are working for you!

#MortgageRates continue to be volatile, but this last week or so, they have been volatile in a downward direction. Having lived through a window of time where mortgage rates topped out at 17.5%, I hope our world does not have to do this again!!!

#Homeownership is important. If you follow us anywhere we post, you’ve seen our devotion to homeownership. I’m no political pundit, but I believe, I’m a great observer. And, I did not see a single campaign focus on #Homeownership! Not one. Did you know, over 90% of homeowners vote. Did you know only about 60% of non-homeowners vote. Whether you believe elections are rigged or fair, I believe #Homeownership brings people into focus with their neighbors, community, town, state and country. Over the next couple of years, let’s identify candidates who believe in #HomeOwnShip as much as we do!

Well, with all this blab out of they way, let’s talk Denver Real Estate.

New Listing (947) Similar to last week, not a lot here to bloat the market with competition!
Coming Soon (81)
Back On Market (211)
Price Increase (119)
Price Decrease (1567) Sellers still struggling with appropriate pricing right out of the chute.
Pending (935) This is a strong number on the same path as New Listings. Growth of Inventory still unlikely.
Withdrawn (296)
Leased (55)
Closed (811) Dropping off here may be a trend toward more inventory. We’ll just have to watch.
Expired (233)

Well then, what has happened with total SFR inventory levels?

We’ve observed all this confusion from midyear on, and the result is inventory of SFRs in Denver moving from 6,300 to 6,600. Still nothing here to see. I think the biggest thing to take from the numbers today is “Nobody is selling and Nobody is buying” is not true. Some are selling and some are buying is completely true. The market has a bit more balance today than it did during the early months of this year.

PREDICTION? Maybe we will get continued relief on rates; even a little would ease the anxiety of buyers committing to 30 years of something twice as high as just one year ago…

In the interim, as we always profess, residential real estate markets are complicated. If it was easy, all the online buyers would be making money. They are not, and some have even given up on the service of buying your home quickly for “Top Dollar”. Give us a call, 303-773-3399 or send us a note TheCryerTeam@Kentwood.com and we will sit down with you, talk through your ideas, and you will walk away with a Home Buyer Plan or a Home Seller Plan. We’ve helped so many people this year, and it makes us proud to be of their service so many times. One family we helped Buy or Sell 9 times, another 7, another 6 and many of our past clients have worked with us 5 times. That’s the true #TestimonialTuesday…tc

Posted in Denver Residential Real Estate | Tagged , , , | Leave a comment