Denver Market Watch 01/19/2021derful “Changing of the Guard”

Have you seen it? You know, “The Changing of the Guard”, happens all over the world. The ceremony of palace guards changing order at a proclaimed time of day, everyday. It happens with a lot of camera flashes and virtually no noise. It goes off over and over again without a hitch.

Probably the most seen guard change in the US is at Arlington Cemetery. I’ve personally been present for Arlington, Buckingham Palace and the Prague Castle. It happens over and over again without much happenstance, but there is something about the uniforms, the boots on ground and the respect of the onlookers making it special every single time, rain or shine.

Well tomorrow, we will have a different kind of guard changing. The changing of our Executive Office is one of tremendous anticipation or regret depending on one’s politics. One thing is certain, however, and that is “the sun will come up tomorrow”, and based on the weatherman, in DC, it will be a sunny day tomorrow. Who knew? Having started in this business during latter days of Gerald Ford and the early days of Jimmy Carter, I can say with certainty, on Thursday, like mosts days, we will get up and do what we do with little or no notice. As the world turns, we continue to do what we do.

We will see many things change. Some gradually, some not so gradually. When I was a kid, I went to the office of our pediatrician in his own home. Now you can video chat with one’s medical specialist. When this business was all about paper, we waited on Fridays to get the MLS Book dropped off. With this in hand, we greeted the weekend with the most analogue source of information imaginable. Now, we can have alerts pop up on our handheld devices as we drive down the street. Now we can have someone buy our property and close within a couple of weeks, no muss, no fuss. (Or so they say…) Nothing is like it seems.

But, one thing is for sure, Bitcoin does not change hands without something or someone making a market. Your shares of Tesla do not change hands without something or someone making a market. Your real estate does not change hands without someone or something making a market. My point being, Without entrepreneurs making markets, participants will struggle to find value, and without value, Bitcoin, Stock and Real Estate will have less or no perceived value.

This makes the perfect segway into this weeks Market Watch. Over the last 7 days, it has been “deja vu all over again”.

New Listing (687) This is simply too low. Buying a property under $500K has become a “war zone”.
Coming Soon (106) Move along, nothing to see here!!!
Back On Market (133)
Price Increase (357)
Price Decrease (277)
Pending (1361) As we start 2021derful with this level of absorption means, “deja vu” all over again.
Withdrawn (72)
Leased (59)
Closed (993) A little research suggests, cash transactions with abbreviated escrow periods tells us, market velocity is key to getting a deal done.
Expired (144)
MLS Activity for the week before 01/19/2021derful…

So, along with the sun coming up every morning, it is almost as sure in the Denver Residential Housing Market there will be continued shortage and excess demand. So, what does this mean. If you are an owner already, this is the best time ever to have your home on the market. If you are a buyer, you have to prepare yourself for battle. You might even pick up, download or listen to Sun Tzu. Learning the strategy of war can never hurt, particularly in this market, but knowing who you’re going to battle with will serve you best…tc

TheCryerTeam@Kentwood.com 303-638-3202

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Monthly Douglas County Colorado Stats 2020

When a market area has a 30% jump in Sales Volume, it is a HOT Market!

21_Jan-AllMonthlyStats_Douglas_8.5×11.pdf

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01/12/2021 Denver Market Watch is Onederful!

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This blog started about 12 years ago. This link will take you back to those early days. This blog has always been a resource for the person with interest in the Denver Residential Market. Over the years, it has changed little from its original mission, and that was to keep you informed on a broad and sometimes narrow view of this market. Today, however, I have chosen a different perspective.

Participating in the acquisition of a residential purchase has its challenges. From the early stages of qualifying to the late stages of time spent at the “closing table”, by now, I think we have “seen it all”. That, however, is never true. There is always something over the horizon we’ve never seen before, coming our way. Maybe that’s what keeps this business so interesting thus keeping our interest, who knows? We love it, and we love serving our Clients and Customers “every step of the way”. There is one thing for sure, the sun does always come up tomorrow….

What’s happened over the last 7 days in the Denver Market?

New Listing (664) REALLY? We need inventory. Now is the time to sell!
Coming Soon (121) Still not enough!
Back On Market (175)
Price Increase (306)
Price Decrease (293)
Pending (1239) This is a “Mid-Season type number. Demand is high!
Withdrawn (116)
Leased (73)
Closed (1140) All these sellers stayed in their homes for the holidays…
Expired (153)

As you can readily see above, the breadth of this market is immense. Across all price ranges, communities and homeowner demands, this market is not letting up. It is a locomotive with no brakes roaring into the Station. Hold on to your hats 2021Derful is upon us.

Dee and I have closed transactions in all types of communities and neighborhoods. From a small “cabin” on 40 acres out on the eastern plains of Colorado to multi-million dollar homes on country club golf courses to the master planned communities with a neighborhood elementary and HOA amenities. Our multi-disciplined history in real estate provides the skill set you will want to accomplish this. So read our Testimonials, and make the decision for yourself. We’ll be there for you every step of the way...tc

TheCryerTeam@Kentwood.com 303-638-3202

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Denver Market Watch 01/05/2021 is Onederful!

It’s that time again. Time to look back and to look forward at the same time. The end of one year and the beginning of another is a time for reflection in our culture, so let’s dive in…

Just because 2020 is behind us does not mean we will see a rapid change in what’s been happening. Expect demand to continue to out pace supply in Denver’s Residential Real Estate Market. There is simply too many market characteristics encouraging buyers to dip their feet into this market. Rates are low, demographics are right, Denver’s geographic presence on the map is perfect (Being 500 miles from nowhere has advantages!), and the economics along the I-25 corridor from Wyoming to New Mexico is chocked full of opportunity. In my career I’ve seen a market like this just one other time, and it did not last nearly this long. Additionally, this corridor is the geographic center for the Rocky Mountain Region. Tourism, Transportation, Distribution, Access to Capital and Job Growth all center along the front range to the north and south of Denver.

Here are the headwinds facing this market. Affordability is number one. We are starting to run up against some economic resistance to home prices. #2 Would be taxes. Government is very good/bad at spending efficiently, and eventually, it will have to pay the bill. Long term, taxes will become a factor., and they never seem to go down. #3 Is and will be other, lower cost markets. This has been going on for years, but with Affordability and Taxes playing a much more defined roll, external competition will be a distraction for some new jobs/employers.

As we can see from this weeks MLS Data, not much has changed from weeks past. Demand out paces supply again, and not only that, but it out paced in dramatic fashion. These numbers will mean more in a couple of weeks. Please come back each week and keep up with the Denver Market.

New Listing (436). Incredibly low number here!!! We need inventory!
Coming Soon (95)
Back On Market (152)
Price Increase (346)
Price Decrease (162)
Pending (766) Considering it’s the partial first week of the year, demand is strong!
Withdrawn (111)
Leased (43)
Closed (1272) Closing out 2020 with a nice healthy number here…
Expired (1261)
All Data Sourced from REColorado.com

Finally, Dee and I had a great 2020. We stayed healthy, we sold a bunch of real estate, we spent a crazy amount of time with family, and we enjoyed the outdoors of Colorado and Utah. If you have not visited the National and State Parks in Colorado and Utah, they are magnificent! As soon as we get this Covid Monkey off our backs, we hope to do even more visiting of our national treasures.

In the meantime, please accept our thanks for all the referral business you bless us with every year. It is our honor to be your trusted advisor. Play it safe, and until we meet again let’s make the world a better place…tc2021

Remember to keep your perspective on life.
Sometimes a Fig Bar is better than a foot of powder in the back bowls, Right?

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Dee & Tom @ The Cryer Team – Kentwood Real Estate · There is no better time to be a seller!

Rates are at all time lows.
Inventory is at all time lows.
Buyer interest is at all time highs.
So, if you are considering a move, we are here for you. TheCryerTeam@Kentwood.com Happy New Years!

https://nextdoor.com/post/172341910?init_source=email_share

Tom Cryer
Tom@kentwood.com
303-638-3202
Www.TheCryerTeam.com

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Mortgage rates hover near record lows to close out 2020 — now here’s the bad news

https://www.marketwatch.com/story/mortgage-rates-hover-near-record-lows-to-close-out-2021-11609429164

Tom Cryer
Tom@kentwood.com
303-638-3202
Www.TheCryerTeam.com

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Kentwood Community eNews

Your monthly source for community and real estate news.


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Denver Market Watch with 2020 Vision 12/22/2020

SantaPraying

It may be the first day of #Winter, but still, there is nothing cold about this Denver Residential Market. Week, after week, after week, after week, 2020 has demonstrated very strong buyer interest. The search for a home has really never been more pronounced than right now. Buyers are moving into homeownership from apartments, buyers are moving into single family homes from smaller condos and townhomes. Unfortunately for buyers, sellers are only cautiously listing into this market.

Let’s take a quick look at the last 7 days. Our MLS activity continues to reflect strong buyer demand, but also once again, sellers are not entering the market in numbers sufficient to quell demand. It is tough to predict what may transpire in 2021, but I would bet, we will see more sellers willing to jump into this market. I’m not predicting a balance in 2021, but we will see a a move toward a more “normal” market.

New Listing (533) This is a typical seasonal number. Nobody goes on the market the week before Christmas.
Coming Soon (26)
Back On Market (144)
Price Increase (348)
Price Decrease (276)
Pending (1052) But, people do buy the week before Christmas!!
Withdrawn (158)
Leased (49)
Closed (1497) I’ll be home for Christmas rings true…
Expired (215)
The week of 12/15/2020 MLS Data

Hopefully, Santa has answered your prayers when it comes to homeownership this year. If not, 2021 will have new opportunities. The secret to this market is getting involved. Finding the neighborhood matching your needs and wants often leads to the home providing your “Happy Place”. This does not happen by accident. Focused effort, commitment and time in the market are the only true ways to make this dream come true.

For sellers, there has never been a better time to be actively listed. As a seller, you have more options than you might think. Let’s schedule a time to discuss the ins and outs of this market and make your dream come true too!

TheCryerTeam@Kentwood.com 303-638-3202

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Denver Market Watch with 2020 Vision 12/15/2020

#IfMyLifeWasaChristmasMovie” is trending on Twitter this morning. This caused me to pause. After a few moments of reflection, I said to myself, “My life is a Christmas Movie”. I didn’t even have to spend the night in the wet and cold like Jimmy Stewart to realize this fact. Now, in now way am I bragging. What ever has happened in my life, has been the result of the people around me. My wife, my children, their children and the business associates to which I have aligned myself and the clients, yes our clients. Advising with the home sale or the home purchase process, in my humble opinion, is THE most insightful event. Long story short, I hope my Christmas Movie will play over and over again for many, many more years, and I want to thank each and everyone of you, and there is no question, we enjoy watching your Christmas Movie too!

But, most of you click onto this post to read about the market and not to see me wax poetically about human nature. As the 2020 closes out, I’d like to offer some vision into 2021. I feel like a broken record, however, when it comes to the Denver Residential Market. Once again, Under Contract Listings and Closed Listings far out strip Active New Listings. Think about this for just one moment. Between contracts and closings, we are in the neighborhood of 2,600 transactions in the last week with only 653 New Listings and the anticipation of 52 Coming Soon Listings. Can you say, “Shortage”?

New Listing (653) Inventory continues to be insufficient for current demand.
Coming Soon (52)
Back On Market (157)
Price Increase (218)
Price Decrease (345)
Pending (1229) This would be a strong week in July!
Withdrawn (187)
Leased (63)
Closed (1385) This is just incredible!!!
Expired (169)
A Clear Vision for 2021

NOW is the perfect time for Buyers and Sellers to be making their plan for 2021, but making a plan without a Vision is tough. We understand that. Here’s my vision for 2021. A Clear, Concise and Cogent look into Denver’s Residential Market for 2021.

  1. Rates will remain low. 30 Year Fixed Rates will not go higher than 3-3.5%.
  2. The supply of homes will remain extremely low, but builders will start to catch up in the 2nd half of 2021 in some of our suburban markets.
  3. Buyer demand will remain strong. Lifestyle locational amenities will be a strong attraction for them. Schools, Pools and Entertainment weigh heavily on demand.
  4. Denver’s employment trends may be even stronger in 2021 now that the vaccine has arrived. Denver’s Geographical Location and Lifestyle Opportunities are not going away.
  5. Sellers will finally have more choices in the move up price ranges allowing them to be more confident about a “convenient” sale. This means more supply!
  6. AND, Dee and I will be here to advise and assist; before, during and after the sale.

Education is power! The source of your knowledge is important. Take the time to understand this market. We have so many ways to converse. Let’s take advantage of the seas while the waters are calm. Going into this market with a position of power is the right course of action. Let’s talk… TheCryerTeam@Kentwood.com or 303-638-3202

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Denver Market Watch with 2020 Vision 12/01/2020

Well? What’s everyone thinking about on this cold, cloudy Tuesday in December? I’d like to be able to report “all the drama is behind us”, but it is not. It never is. Tomorrow, there will be something new. Who knows what it could be? Here are three things for sure, however, in this time of uncertainty.

First, Home Mortgage Rates are incredibly low, and they will stay low well into 2021.

Second, the Denver Metropolitan MLS Area has a shortage of resale inventory, and New Build Inventory is no better right now. This shortage will run well into 2021.

Finally, Job Prospects, Demographics and Geography are creating strong demand for residential housing in Denver/Colorado. This demand is going to remain strong well into 2021, also.

Low rates, limited supply and consistent demand will define 2021 just as they did in 2020. The sun will come up in the morning, too!

It’s hard to predict the future, but it seems pretty sure of itself right now, so let’s run with it, OK?

This week’s numbers confirm everything reported above. The numbers are really just unbelievable! Please follow along…

New Listing (429) Simply an incredibly LOW number.
Coming Soon (88)
Back On Market (148)
Price Increase (199)
Price Decrease (363)
Pending (1034) REALLY, over 1,000 under contract listings in the last 7 days?
Withdrawn (149)
Leased (38)
Closed (1282) Oh My, “We’ll be home for Christmas…”
Expired (393)

With ratios and number like these, you can understand why I am so sure about my predictions. We will start 2021 with less inventory, better rates and probably equal or higher demand factors than we did 2020. If you are a buyer, or If you are a seller, the water is warm, come on in… The market is waiting for you!

We’ll keep the light on for you…tc21

#AreciboObservatory RIP 007

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