10/19/2021derful $Z $BITO $APPL #TedLasso

Good Morning!

Before I hop into this week’s “Facts and Figures”, I think it is fun to talk about the great things I am enjoying and watching in this great country.

First, ZILLOW has announced “No more home buying through the end of the year”. Supply Chain and Labor cited as reasons for the slow down. I might confirm this by reporting the last Zillow Listing I showed, lacked light bulbs until I finally arrived at the fourth switch. Makes for a “Dark Showing”… HeheHehe….

BITO opened today as a new ETF (Exchange Traded Fund) focusing on Crypto Futures. Looks like it may not race away like many new offerings have recently, but for now it is up about 3%. It’s hard for someone like me who has dealt in tangible assets his entire life to understand Crypto, but now you don’t have to understand it. Let the ETF people do it for you!

APPLE had another one of their VERY PROFESSIONAL presentations which should make your holiday shopping very easy this year. …buds, pods, macs and more…

Finally, on Apple TV, Dee and I wrapped up #TedLasso’s second season. We are told season 3 is coming. So, if you like the idea of a Kansas football coach turned soccer coach in London, then you will laugh out loud like we did.

This week’s market is is “more of the same”.

New Listing (1015) Low, Still not enough new inventory to satiate this market!
Coming Soon (141)
Back On Market (226)
Price Increase (109)
Price Decrease (685)
Pending (1661) Where are buyers finding this much inventory. Buyer activity is still strong and aggressive. Pricing now is more key than ever!!!
Withdrawn (159)
Leased (53)
Closed (1628) This is a very strong week for closings for this time of year. I’ve been wrong before, but I’m thinking 2021 is going to figure out how to break some records!
Expired (176)
Denver MLS Over the Last 7 Days

Now, what can we learn from this year’s representation of total of SALES vs. LISTINGS?

Time frame is from Jan 2021 to Oct 2021
County Or Parish is one of ‘Adams’, ‘Arapahoe’, ‘Boulder’, ‘Broomfield’, ‘Clear Creek’, ‘Denver’, ‘Douglas’, ‘Elbert’, ‘Gilpin’, ‘Jefferson’, ‘Park’
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Residence’

What have learned through the 2nd to last week of October, 2021? It is clear, this market has great momentum going into year’s end, and it looks like we will roll into 2022 with the same ratios of limited supply.

In closing, Eliot Eisenberg has a daily blog post Monday – Friday. Yesterday’s was very poignant to interest rates and where they’re going.

The yield spread between the 5-year Treasury and the 30-year has recently narrowed despite rising inflation fears. The 5-year rate is up along with inflation, the 30-yr rate has barely budged. This is because markets now expect the Fed to raise rates sooner than later. That will weaken inflation and slow growth, both of which lower rates, especially long rates. To wit, historically rates generally decline when the Fed tapers.

Elliot Eisenberg, Ph.D. is a friend to the Realtor Community, and if you ever get a chance to witness his “ACT” in person, jump at the chance! Predicting where rates will go is for fool and newcomers, but he is definitely on to something here.

Have a great day my friends…tc

Posted in Denver Residential Real Estate | Leave a comment

10/12/2021derful #Chappelle #Brandon #Gruden #JamesBond #TestimonialTuesday

Good Morning Everyone!

We live in a CRAZY world. I’m not sure it is any more or less crazy than years past, but because of Social Media, 24 hour news rooms and the ability to contact so many people with a single touch of a button in so many different ways, it just seems more crazy. All the way back to the days of the Town Crier spouting the daily news from busy street corners, the Human Condition just likes to be “in the know”. But, Today, all we care about is the Denver Metro Inventory Numbers!

New Listing (1066) Such a low number… Again!
Coming Soon (150) This does not bode well for this weekend… Again!
Back On Market (237)
Price Increase (129)
Price Decrease (662)
Pending (1697) Wow, this is a big week… Again!
Withdrawn (134)
Leased (63)
Closed (1265) This is a seasonally correct number… A month ago coming off a Labor Day Weekend…
Expired (135)
Denver Metro MLS Numbers for the Last 7 Days

Gloom and doom was predicted after July’s numbers, but by looking closer as we do, you could see the weekly numbers had not changed. The Market Profile continues to be more Contracts each week than New Listings. As long as we continue to see this view of the Micro Market with more demand than supply, we will continue to see a Sellers’ Market in Denver Metro.

Time frame is from Nov 2020 to Oct 2021
County Or Parish is one of ‘Adams’, ‘Arapahoe’, ‘Boulder’, ‘Broomfield’, ‘Clear Creek’, ‘Denver’, ‘Douglas’, ‘Elbert’, ‘Gilpin’, ‘Jefferson’, ‘Park’
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Residence’

So, what have we learned today? Supply is not holding up to demand. The fall season will look a little different this year. With rates still bouncing around 3% and conforming loan limits going up, enjoy the ride, because there is no bubble to get in our way today…

“Dee & Tom are a dynamic duo! My family has used realtors to buy homes in five states. The Cryer Team were exceptional. Their attention to our style, interest, and needs made our search for a home while out of state and in a difficult market feel easy. The whole process was the most seamless, organized, and stress free house purchase we have made. Dee & Tom have a unique approach in helping a family find a home but their approach works. We are in love with our neighborhood and our house!

BTW, I’ve seen every 007 moving ever released. If you are a Bond fan, don’t miss #NoTimetoDie! See it in an #IMAX Theater.

Dee & Tom Cryer, SCRP
Broker Associates

THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-887-3917 / 303-638-3202
TheCryerTeam@Kentwood.com

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10/06/2021derful #NationalTacoTuesday #WhoTellsYourStory

Good Morning Everyone,

I guess you already know what the Cryers will be having for dinner? That’s right, it’s not just #TacoTuesday, it’s #NationalTacoTuesday! Ándale!!!

Enough fun already… Let’s get right into it. This morning we have the same story as last week, and the week for that and that, and that. Below, I’ll be showing you some more bar graphs defining the Denver Metro Residential Market, but for now, follow along with this week’s numbers.

New Listing (1103) Once again, this is not enough new listings, and to top it off, we are going into the seasonal mode of fewer listings.
Coming Soon (170)
Back On Market (244)
Price Increase (256)
Price Decrease (742)
Pending (1826) HOWEVER, this market continues to out do itself with its limited supply. Where are buyers finding these listings to buy? More to come on this.
Withdrawn (124)
Leased (45)
Closed (2014) This is simply a HUGE number. This is a peak season number. Over 2,000 closings in a 7 day window is simply crazy high for October!
Expired (339)
MLS Numbers Over the Last 7 Days for the 11 Counties Surrounding Denver

“BUT WAIT, there’s more!”

The Number of Active Listings from the 11 County Denver SMSA

As you can see, we are quickly drifting into the typical seasonal trend of fewer listings than the summer months, but as we noted above, we are still seeing rapid market velocity, limited buyer inventory and multiple offers in almost all price ranges.

Now look at this one below…

Time frame is from Jan 2011 to Sep 2021
County Or Parish is one of ‘Adams’, ‘Arapahoe’, ‘Boulder’, ‘Broomfield’, ‘Clear Creek’, ‘Denver’, ‘Douglas’, ‘Elbert’, ‘Gilpin’, ‘Jefferson’, ‘Park’
Property Type is ‘Residential’
Property Sub Type is ‘Single Family Residence’

So, I ask you… Does this market look like a market approaching a “Bubble”? NO, it does not. It looks like a market primed for a spring marketing season like this year, and the previous 3 years where inventory is scarce and buyers are plentiful. Only time will tell, but if I could make this bet on #Barstool, I would!

So, “#WhoTellsYourStory” makes a difference. Clearly, we are vested in this market. we work with both buyers and sellers. By telling this kind of “unbiased” story week in and week out keeps us honest. WE will be telling the world when the market changes, but right now, we continue to see the market on the sellers’ side and buyers will continue to march into battle. This is why having a seasoned, knowledgeable and focused team of brokers on your side is so important. We are finding those #diamondsintherough for our buyers. AND, we are negotiating the best prices for our sellers. Let’s face it, the Denver Market is not what it used to be. It is more populous, it is geographically larger, it has experienced dramatic changes due to light rail, DIA, 470, housing density changes (Zoning), #EnterpriseZones, Covid and #SavingRates have all served to change this market. Staying current is what we do.

We will be there for you every step of the way!

Dee & Tom Cryer, SCRP
Broker Associates
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-887-3917 / 303-638-3202
TheCryerTeam@Kentwood.com

Posted in Denver Residential Real Estate | Leave a comment

09/28/2021derful #October #BlackSwanMyth #AndMore

You’ve all heard it before; #October, #BlackMonday, #TacoTuesday and of course #TestimonialTuesday. Let’s debunk some of these myths and get you right into this week’s numbers.

First of all, Denver’s residential home market is still on Fire! As anecdotal proof we presented several properties to our buyers over the last week, and the week before last had some doozies! Well this week, we had one with 50 showings over the weekend with offers $100K above list price. We had another with about 20 showings and 4 offers over the weekend. It was listed at $1.1M. Finally, a property we had shown to one of our buyers a month or so ago was listed at $1.8M, and it closed at (are you ready for this?) $2.3M. That’s $500K over list price. I’m so excited for our buyers because clearly this market is cooling off, NOT!!!

Let’s see what’s happened over the last 7 days.

New Listing (1037) Are you kidding me? This inventory shortage has to break!
Coming Soon (176)
Back On Market (252)
Price Increase (272)
Price Decrease (868) This is telling. Sellers being a little too euphoric?
Pending (1735) With so few New Listings, where are buyers finding these?
Withdrawn (156)
Leased (47)
Closed (1496) Week in and week out, all year long. Closing after closing after closing!
Expired (212)
11 County MLS Report for the Last 7 Days.

As I asked above, where are buyers finding the inventory. This graphic below will continue to confirm, the 11 county supply of inventory around Denver is still way off the numbers from just 12 months ago.

Well below October’s numbers from 12 months ago, September is closing out with just less than 3,000 Active Listing. This is the simple reason we are seeing multiple offers, and the pervasiveness of Buyer Fatigue.

Now, what are the #BlackSwans waiting for Denver’s Residential Market? First, this week, we saw long term rates click up. This puts some buyers out of the market due to affordability. This makes it possible for other buyers to jump in and win. But, is a buyer really winning when it has to give up an Inspection Objection, or give up an Appraisal Objection, or a Loan Objection or for that matter, any Objection? Sellers are gutting the system of any Buyer Protection. When a market becomes something less than a market, what are the long term effects?

That’s what we are here for. We can guide you through the process of competitive bidding. We can find you a lender willing to fight for you. With the help of an inspector with years of experience and a non-alarmist approach how or why you could give up an Inspection Objection, and many other tricks of the process in this Sellers’ Market. Let’s talk!

If you are a potential Seller in this market, let us show you the pathway to the highest price with the least amount of inconvenience. We have a successful battle proven system and years of negotiation skills to serve you. Let’s talk!

#TestimonialTuesday ClickHere

In October of 1987, mid month, the NYSE took a hit. #BlackMonday It through the economy which was just starting a recovery into a deeper trough. Wait for it… It rebounded all the way up to the dot.com bust of the late ’90s. Worrying about the market is energy lost. Everyone wants to be economically successful. Why else would the Hippies of this generation live in a van with a GoPro? The world is a mysterious place…tc

Dee and Tom Cryer, SCRP
Broker Associates
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-887-3917 or 303-638-3202
TheCryerTeam@Kentwood.com

Posted in Denver Residential Real Estate | Leave a comment

09/21/2021derful #Moab #Realtor

Good Morning Everyone,

We were in Moab last week. Moab’s message is simple. Given enough time, you can turn an inland sea into a magnificent spectacle of scrubbed down rock, if you have a couple hundred million years.

The result was I missed a week of this “magnificent” blog post. Maybe this one will turn into something worth waiting. As you can see, the days change but the numbers continue to tell the same story. More demand than supply in the 11 county Denver/Boulder Metroplex. Please, follow along.

New Listing (1211) Too little too late for this year!
Coming Soon (165)
Back On Market (233) This number is up a bit.
Price Increase (141)
Price Decrease (815) “Over priced, Shortage”…
Pending (1813) Another booming week. Those postulating the “Denver Bubble” just aren’t paying attention.
Withdrawn (148)
Leased (79)
Closed (1555) This is a strong seasonal number going into fall. This will be telling as move deeper into year’s end.
Expired (238)
The last 7 days of the 11 Denver/Boulder Metroplex activity.

We submitted an offer on a property listing over the weekend. It received 17 offers. Not 1 or 2, but 17 offers. Seventeen buyers went to the effort of getting a lender letter, proof of funds, and the creation of a purchase agreement only to find out they were competing with 16 other happy households. “Come on man…”

In the meantime, every Market Shaman is predicting the Denver Bubble. I’m here to let you know in no uncertain terms, this market is not going to roll over and play dead.

Active Listing Month by Month 2021 in the Same 11 Counties

As you can see, we are well below the number of listings from 12 months ago. Low supply with steady demand creates a market with multiple offers. So, all the buyers hoping to get a year end deal, the broader market is telling me, “It ain’t gonna happen…” anytime soon.

17 Offers! Was this property grossly under priced? It’s hard to say. It’s in the $750K price range. Low interest rates make this less than renting if you have a downpayment. So, here’s the answer to the question you are asking. Moving forward, until we break the chain of low inventory, Denver will continue to have a market with buyer demand exceeding supply.

Denver has great suburban communities, it has great employment trends, it is geographically positioned for growth and someone can fly out of DIA and be in most parts of the 48 in about 3-4 hours. Private jet flights remains very strong. Household Goods movers still report empty containers leaving. Please don’t sell Denver’s Market short. It is not our of breath yet.

And, what does Moab look like? Here’s a glimpse.

Just a Mere Glimpse…

I almost have to eliminate Moab from the description. Using Utah is much more germaine. We will live with it that way. Please get there before is is completely overrun…tc

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09/07/2021derful #LaborDay #Homeownership #September #TestimonialTuesday

Good Morning Everyone!

It’s always fun to start a new week. The prospects of a fresh start, new challenges and more change always adds a little excitement to life. Everyone has been reading about the “Stock Market Bubble” and the “Residential Housing Bubble”. Predicting either is for “fools and newcomers”. Remember, “It is time in the market and not market timing”. Today, we will only be focusing on Denver’s Residential Market, and with all the factors attributed to any market, we will be focusing on the micro economic factors attributed to Denver and it’s 11 surrounding counties.

The Metro Area has matured into the innovation “heart beat” for the entire Rocky Mountain Region. This added to already being the financial center, energy center, transportation center, distribution center, tourism center and more, our economy supports its well established home value trend. Rates, Employment, Supply, Demand and Demographics all lend additional credence to this hypothesis. Let’s look at this week’s numbers.

New Listing (947) It was a holiday week, but still, this is too low. We need inventory!
Coming Soon (250) This number is up from last week. Possibly a good sign.
Back On Market (202)
Price Increase (188)
Price Decrease (604)
Pending (1509) A typical number for this time of year.
Withdrawn (118)
Leased (51)
Closed (1604) A pretty strong number. Where are buyers finding these sellers?
Expired (299) This number is up. Sellers with overly optimistic views of value?
Denver’s MLS Numbers Over the Last 7 Days

LOOK, 2021 has been a Roller Coaster! No kidding… Well, the Single Family Residential Market in Denver is clearly in evidence. Not unlike recent years, we will start to run out of listings rolling into year’s end, but demand is unlikely to follow this trend. Buyers will be chasing new listings into 2022. Bet on it!

Listing Count for SFR Properties in Denver Metro 2021

Will Denver’s Economy be adversely affected by external factors? There are a lot of factors facing the good old US of A that could weigh heavily on our economy. A stock market reset, anti-business growth legislation, tax changes, affordability, Global Affairs, and more could all have an impact on our residential market. I believe the path is pretty well set through year’s end. Next year is on you right now. FAANG will guide us into the new year once again, so, I’m pretty optimistic about 2022 too…

Dee & Tom Cryer, SCRP
Broker Associates
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
TheCryerTeam@Kentwood.com

Your Trusted Advisors in the Homeownership Business

“Outstanding attention to detail and guided us through the whole process from listing to closing. The marketing was so good, we listed the property on Friday and had an offer by the following Tuesday….. closed the sale 3 weeks later! Great advice and always available (7 days a week) for questions. They saved us a lot of money by recommending appropriate contractors to deal with the repairs required by the buyer. Thank goodness we had the Cryer team to keep the sale on track…. The buyers’ realtor was about as much use as a chocolate oven. I would have absolutely no hesitation using them again or recommending them to a friend or family member.”

  • David H.  2021
Posted in Denver Residential Real Estate | Leave a comment

08/31/2021derful #DenverRealEstate #August

This week in the Denver Metro Area, we are seeing more of the same. Virtually no inventory growth and buyers voraciously chasing what’s still available. Follow my comments below.

New Listing (1141) This is a very low number. This is 10-20% recent weeks.
Coming Soon (149) This number is lower too!
Back On Market (287)
Price Increase (159)
Price Decrease (836)
Pending (1981) This is a big number. Where are this coming from?
Withdrawn (197)
Leased (58)
Closed (2031) Another BIG number! Buyers and Sellers are getting to the closing table!!!
Expired (176)
the last 7 days in and around Denver’s 11 counties

What about a more broad look at this market? As you can see, when more listings close than become active, the supply declines.

With incredibly low interest rates, limited supply and continued buyer interest, there is no discernable “Bubble” from my view.

Dee & Tom Cryer, SCRP
Broker Associate
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
TheCryerTeam@Kentwood.com

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08/24/2021derful #tuesdayvibe #testimonialtuesday

Good Morning Everyone!

Another week, and “it’s deja’ vu all over again”.

New Listing (1210) This is an average to weak number. Certainly nothing to indicate a market change.
Coming Soon (200)
Back On Market (259)
Price Increase (179)
Price Decrease (815)
Pending (1776) This is a strong week. Buyers are finding their way to Pending Status in a market short with inventory.
Withdrawn (168)
Leased (54)
Closed (1630) Not a bad week. Times 52 Weeks, and this would be a record year by far!
Expired (162)
Denver’s MLS Over the Last 7 Days

Below is a chart reflecting further evidence, we are not moving toward an oversupply. Practically half the inventory of last year at this time is evident.

Available Inventory in the 11 County Statistical Area Covered

“Working with Dee and Tom is an absolute joy. They are knowledgeable, professional and responsive. We were fortunate to work with Team Cryer when we purchased our home in the Denver area, and insisted on using them when we sold our home when moving out of State. Both experiences were fantastic.”

Please subscribe, and get this weekly via email. Promise, you will learn something new every week.

Dee & Tom Cryer, SCRP
Broker Associates
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
TheCryerTeam@Kentwood.com

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08/17/2021derful #Afganistan #Haiti #Wildfires #SPAC #GratefulDead

As we start another week, to the outsider, this world would appear to be upside down and backwards. AS I write this, Wall St. Futures are down but not much. The “Stan” countries are reeling from the prospects of no US intervention moving forward. (Did you know “Stan” means “Land” in Persian?) OMG, can Haiti get it any worse? Earthquakes, Tropical Storms and abject poverty continue to plague the little country. A SPAC created by a Wall St. stallworth is being challenged by the SEC. And, I could go on and on, but for the most part, we soldier on, day in and day out. All this makes me recall a Grateful Dead Song, The Wheel. It goes something like this…

The wheel is turning and you can’t slow down,
You can’t let go and you can’t hold on,
You can’t go back and you can’t stand still,
If
the thunder don’t get you then the lightning will...”

Over the last 7 days in Denver’s MLS system, we continue to see the same revelation as last week and all the 2021 weeks before. WE continue to see more active listings become Pending and more Pending Listings become Closed reflecting a continuing “Sellers’ Market”…

New Listing (1168) This number is so low, anyone forecasting a change to a Buyers’ Market may need to take another look!
Coming Soon (191)
Back On Market (224)
Price Increase (141)
Price Decrease (746)
Pending (1832) Over 400 more Pending listings this week than New Listings! This is way out of balance!
Withdrawn (154)
Leased (63)
Closed (1583) Once again, Sellers will enjoy solid returns moving forward.
Expired (139)
Above, Denver’s MLS Data for the Last 7 Days in 11 Counties

Below, you will see even more verification for my hypothesis of inventory shortage and buyer demand…

Any gains of inventory we felt over the months since April appear to have been all but washed away by August. Keep in mind, today’s inventory in Denver is almost half of that in September of 2020. Let’s understand, Denver enjoys positive employment growth, and it also enjoys tremendous business creation. Couple that with events of the last year surrounding the COVID Lifestyle of remote working, and we have all the makings of continued strong demand for homeownership.

So, today, I will leave you with this image. From over 26K listings to under 5K in listings during the last 10 years. I’d buy into this market, and at the same time, try to lock up as much 3% money as the bank would allow. Enjoy…tc

Dee & Tom Cryer, SCRP
Broker Associate
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
Tom@Kentwood.com

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08-10-2021derful #ForTheLongRun #RealEstateIsLocal

Good Morning Everyone,

Denver’s Residential Market continues to soldier on in spite of the media’s charge to kill the market. I counted 5 articles between this week and last week extolling the end of Denver’s Booming Residential Market. This week’s data certainly does not offer any support to that hypothesis. Rates are still great and demand is present.

Week over week, fewer listings than contract and closings. Coming Soon Listings are backing down too. With that being said, we are seeing a more price reductions, but “Sellers want next year’s prices and Buyers want last year’s prices”.

New Listing (1340) A nice number, but clearly nothing dramatic here. We still need more listings.
Coming Soon (180) Really nothing to look forward to here.
Back On Market (254)
Price Increase (363)
Price Decrease (714) This number is larger than we’ve experienced.
Pending (1765) A nice strong midsummer number here.
Withdrawn (154)
Leased (55)
Closed (1450) Another nice strong midsummer number here…
Expired (153)
Denver’s MLS System Over the Last 7 Days

Isn’t it beautiful? An increase in inventory, but sales are still crushing it! This may turn into a market with more of a balance where buyers have a fighting chance. That would be great for everyone. I hate to be old fashion, but when a buyer has to make a purchase decision after a 15 minute showing and maybe give up an inspection and an appraisal and more, that’s just not a fair market, and I believe when someone is buying or selling the most expensive asset in their family, the sides should not be stacked too far in one direction. BUT, that’s just me.

Long story short, Denver’s Residential Market is doing quite well, thank you very much, and will continue to do so. Rates continue to be very attractive and at 2021 lows last week. More to come, stay tuned in and #Subscribe.

Thank You…tc


Dee & Tom Cryer, SCRP
Broker Associate
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
Tom@Kentwood.com

Posted in Denver Residential Real Estate | Leave a comment