@MyTownCryer #MondayMarketUpdate #twoadays

Good Monday Morning Everyone!

Convention Center BearThat’s right, it’s that time of year again.  Football players all over America are participating in Two-a-Days.  That’s when it is so hot outside, there’s a practice in the morning and then again in the evening.  In between there classroom work.  “Are you ready for some football?”

As you well know, this blog is not about football, but the residential market can learn a lot from football.

  • First, residential markets have to take breathers, just like football players.  A market can’t go at 100% year after year after year or month after month after month, etc.
  • There are Allstars in football.  Players that out perform other players on the same field.  Residential real estate has geographic areas that out perform others.
  • There are referees in football.  Residential real estate has quasi-referees such as mortgage rules, appraiser rules, inspections, title, HOA, etc.
  • Football has competition with other forms of entertainment, and residential real estate has competition from other financial instruments.
  • Finally, there is only so much time in this crazy world.  Residential real estate take a lot of time.  Time to buy, time to sell, time to maintain, time to upgrade, etc.

Competition is everywhere!

With all this being said, Shelter is a common goal around the world for households.  In spite what you hear or read, homeownership in the most economically productive economies is the highest.  As an example, in the US, we have a homeownership participation of about 63% which has been as high as 67%.  Homeownership is part of the plan.  When citizens are vested in their communities, schools perform better, crime is lower and values are stronger.  Encourage homeownership.  It’s important, and it works for all of us!

As for this week’s #MondayMarketUpdate,

we have a lot to discuss from this MLS data.

New Listing (1602) This is a strong number, but not spectacular!
Back On Market (308)  About 20-25% coming back on the market, this is a growing number.  Let’s keep our eyes on this one!
Price Increase (179)  The ratio of price increases to price decreases is about as big as it has been in 2018.
Price Decrease (1503)  As we said  before, these are sellers that want to “get it done” by years end.
Under Contract (1608) Once again, this is a strong number but not earth shattering.
Withdrawn (253) Hidden in all these numbers is this little GEM!  Sellers giving up is slowing down.
Leased (50)
Sold (1317)  This is a little weak.  I would have like this number to be about 1,400-1,450.
Expired (267)

Long story short, Denver’s residential market remains healthy, but is starting to pick up some competition from other markets, its tickets are starting to cause buyers to look elsewhere, and the competition for buyer’s and seller’s time is becoming visible not only anecdotally, but also, in “the numbers”.

It's a good week!On the horizon in the coming season will be a very contentious election, a consensus of increasing interest rates, and an uncertain global track.  Don’t worry, we will be here every step of the way to provide the kind of insight every seller and buyer in this market needs.  Please do not hesitate to call!  Dee and Tom 303-773-3399

 

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#MarketMondayUpdate @MyTownCryer #PriceDecreases

Good Morning Everyone!

IMG_0050This is going to my my anecdotal rant on the market 8/6/2018, today.  A few years ago, I wrote about our bifurcated market.  What I meant then as well as today is simple.  We have a HOT MARKET, and we have a not so hot market.  For instance, I was showing homes on Saturday under $600K east and west of Denver University.  Most everything we viewed was physically old and tired, but some of it was well priced and I’ve been notified that at least one has a full price offer in place.

So, under $600K around DU is HOT.  We can sell not so nice properties around DU with not much effort.  Other price ranges and neighborhoods might not be so hot.

As we creep up in price and move away from the city center, demand is not so crazy, activity not so brisk and price appreciation may have left these market segments for the time being.  On the surface these stats are very strong, but is there a crack in the dam?

Weekly MLS Stats 8/6/2018

New Listing (1746) Interesting to note New Listings vs. Under Contracts vs. Sold…
Back On Market (355)
Price Increase (177)
Price Decrease (1578)  As we reported last week, earlier in the year this number was 300/week.  This is a “bellwether” number.  It may be predicting the future!
Under Contract (1776)  This is a very strong week.
Withdrawn (222)
Leased (42)
Sold (1815)  Wow!  This is a good week!
Expired (466)

So, what does all this mean?  In the last 5 years, there has never been a more important time PRICE APPROPRIATELY!  Heard last week:  “The market is smart, you can’t under price a listing“.  Effectively, in today’s market, it is not the time to price ahead of the market.  In fact, it may be the time to price behind the market.  Historically, buyers are seeking a home value at last years prices and a seller is seeking a sale price at next years prices.  Don’t swing with the market, your list price strategy should lead the way to success.

With rates inching up, election distractions, global tensions and the bifurcated market trends noted above, it just might be the time to reach out, discuss your plans, become armed and ready for what’s to come.  We do it all the time, come stop by our new office and we can make it happen for you too!  TheCryerTeam@Kentwood.com  

 

Posted in Denver Market Watch, Denver Real Estate, Denver Renters, Denver Residential Real Estate, Denver University, The Denver Market Watch, Uncategorized | Leave a comment

MyTownCryer – DenverMarketWatch | July 2018

Your monthly source for the latest Denver Area real estate news.

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August 2018
Newsletter Header
Kentwood Real Estate
My Oh My, We’re Grandparents!
If children are the rainbow of life. Then grandchildren are the pot of gold. – Irish Blessing

My Oh My, We’re Grandparents! Cordelia Louise was born to Grace and Andrew on 7/18/18. Although Cordie Lou was almost 7 lbs., she is literally just a “hand full”.

They say a picture is worth a thousand words. In that case, here is a few thousand words to enjoy. Enjoy your summer!

Home Prices Appreciate at a Slower Pace in Denver
This past month, many people celebrated Independence Day by watching fireworks, enjoying a barbecue, or perhaps escaping to the mountains. This year, Denver’s continued robust housing market was another cause for celebration. Read More >>
Choosing the Right Buyer’s Agent
As a buyer, you’re looking for someone to help you navigate the intricacies of the buying process. Having a good buyer’s agent on your side could be the key to finding the right home at the right price. Read More >>
Best Mountain Bike Trails Near Denver
Colorado’s Front Range is a treasure trove of epic mountain bike trails waiting to be explored. There are around 1,200 rides and trails within striking distance of downtown Denver alone! Read More >>
Featured Properties
7150 East Berry Avenue
7150 East Berry Avenue, Greenwood Village CO
The most picturesque cul-de-sac site in Greenwood Village awaits you. Live on 2+ acres and walk to breakfast, lunch, dinner AND light rail! You will not believe how private yet accessible this home truly is! Turning up its private drive, all the stresses of the day fade away. You will be greeted by mature growth pines, flowering trees, and blooms from a variety of perennials and shrubs from Spring through Fall. The mountain views are panoramic and will be enjoyed from every vantage point f…
Full Property Details »
641 Ruby Trust Way
641 Ruby Trust Way, Castle Rock CO
Perfectly Poised at the end of the cul-de-sac, this sophisticated Austin Signature Homes custom built ranch offers unparalleled appointments, flawless finishes, and impeccable condition. The storybook setting with its cascading waterfalls, stone walkways, and flower gardens sits amongst mature-growth pines. Views in the evening are as spectacular as those during the day and can be captured from almost every window and vantage point. A grand entry invites you in with lightly hand troweled w…
Full Property Details »
10365 Prairie Sky Place
10365 Prairie Sky Place, Lone Tree CO
Rare opportunity to own in Parkside at Ridgegate. Minutes to light rail, I-25, C-470, Bluffs Regional Park, Lone Tree Arts Center, Lone Tree Rec Center, Douglas County Library, and numerous restaurants and shops. This stunning home is well maintained and appointed with high-end cabinetry, fixtures, and finishes. Gourmet kitchen features stainless appliances, granite countertops, and an inviting, oversized center island. Open floor plan with soaring, 2-story great room has an abundance of n…
Full Property Details »
The Cryer Team
The Cryer Team 303-638-3202 Tom
303-887-3917 Dee
Contact Us »
Visit Our Website »
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Market Snapshot
Market Movers
Kentwood Real Estate has a new headquarters office. And it is fantastic! It provides great views of the mountains and cutting-edge technology for Kentwood agents and their clients.

Denver is on its way to becoming a true “Smart City.” That could have huge implications for downtown Denver, as 237 acres of parking lots could be used for housing, retail and parks.

Should you buy or should you wait? If you have money for a down payment, but not quite the 20% of the purchase price of the home, it might be better to buy now, instead of waiting until you have a larger down payment.

Testimonial
Dee and Tom were amazing to work with. They represent their clients so well and truly work for them. We were relocating to Denver from out of state and having them as partners was truly a benefit.
-Caleb K.
Kentwood Real Estate Kentwood Real Estate
4949 South Niagara Street #400
Denver , CO 80237
720-330-8888

EHORealtor

muwu561hemu
©2018 Kentwood Real Estate
If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. You are receiving this email as a current or former client of Kentwood Real Estate or one of its associates.
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@MyTownCryer #MondayMarketUpdate

Supply vs. Demand

Supply vs. Demand

Good Morning Everyone,

Today’s post is all about an education.  An education of what’s going on around the Denver Residential Housing Market.

When doing a mid-year recap, I always like to look back to see forward.  Follow along with my notes below from these two weekly MLS reports.

March 5, 2018

New Listing (1329)
Back On Market (193)
Price Increase (188)
Price Decrease (534)  The Ratio of Price Decrease to Under Contract is 32%.
Under Contract (1653)
Withdrawn (119)
Leased (41)
Sold (1635)  The ratio of New Listings to Sold Listings is 81%.
Expired (326)

July 30, 2018

New Listing (1694)
Back On Market (312)
Price Increase (120)
Price Decrease (1410)  The ratio of Price Decrease to Under Contract is 78%.
Under Contract (1795)
Withdrawn (211)
Leased (44)
Sold (1583)  The ratio of New Listings to Sold Listings over 100%.
Expired (214)

OK, what does all this mean?  We are clearly witnessing a market swing.  As so often happens this time of year, buyers are tiring, sellers are weakening and the brokers that make the market are pressing to get the transaction moving.  The only tool left in their basket is a price reduction.

With all this being said, if you are in the market, contemplating be in the market or just dipping your toes to create a plan for the future, we are here for you every step of the way…tc

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@MyTownCryer #MondayMarketUpdate #MakingTheTurn

Good Morning Everyone!

It's a good week!Are you are “looking at the world through a windshield”…?

That’s right, we have made the turn.  Passing the midway mark for 2018 was pretty much uneventful.  That being said, we think there are  a number of ideas we need to share with you today.

  • As you can see, Price Decreases are becoming routine.  Sellers want to get it done by the end of the year.  Compelling pricing has become critical.
  • Under Contracts remain strong.
  • New listings are about normal.
  • For closings it was a good week!

New Listing (1765)  I would expect this to be higher!
Back On Market (316)
Price Increase (144)
Price Decrease (1438)  Sellers want to get it done before year’s end.  Huge Number!!
Under Contract (1740)
Withdrawn (171)
Leased (43)
Sold (1510)  This is a good week.  Annualized, this is a huge number!
Expired (245)

OK, What else?

That’s it for now, we will try to make a big first half update as we close out the month with all the cumulative data coming.  With that being said…

“Sometimes you’re the windshield, sometimes you’re the bug.”  Mary Chapin Carpenter

Let’s hope you’re the windshield all week…tc

 

Posted in Denver Market Watch, Denver Real Estate, Denver Residential Real Estate, Uncategorized | Leave a comment

#MondayMarketUpdate @MyTownCryer #Fog

Good Morning Everyone!

Fog 2018

Sometimes the Fog Blocks Our View…

As you know, we publish this weekly update to keep our followers across all media informed.  It becomes more difficult to anticipate what the trend will be for the rest of the year about now.  Here’s what we know.  We still have below normal supply, and we almost identical levels of new product coming on the market as last year.  We have higher rates than last year, and we have higher energy costs than last year.

Here’s my prediction, seller’s will become frustrated more often by not going under contract right away like last year.  This will lead to more price reductions than in the past.  Buyers will become more demanding on sellers for condition, appeal and quality items.  No longer will they “Take it ‘as is'”.  Sellers will be forced to make repairs and/or credit buyers for these items.  Rates are going to swing within a narrow range.  Seldom if ever do we see big rate moves during an election year.

Speaking of elections, don’t expect September and October to “add big” to the numbers as we move into the fall season.  This election will be stirred up in the media.  Many will become captivated.

So, that’s why we may be in a fog, just like this morning, for the rest of the year.  What do you think is going to happen, and how should we adjust to the market?

The “Dog Daze of Summer” are upon us.  Note our comments below.

Denver MLS Report/Last 7 Days

New Listing (1925)
This is typical of the season.
Back On Market (312)
Price Increase (156)
Price Decrease (1378)
This a huge number!
Under Contract (1717)
Coming off a holiday week; normal.
Withdrawn (215)
Leased (48)
Sold (1467)
A good week, but not great.
Expired (234)

Kentwood WordieMore than once in our careers, we have been faced with a change, a nuance, an outside influencer and more.  The market is always changing, and one neighborhood can perform better or worse than another depending on; you guessed it, Supply and Demand.

Let us help you through this, “Every Step of the Way”.

Posted in Castle Pines Village, Denver University, Greenwood Village, Uncategorized | 1 Comment

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TheCryerTeam@Kentwood.com shared a home on Zillow

What do you think? Check out this home I found on Zillow.

Zillow
Shared Listing
app?tok=52a6b186-4963-4fd4-a986-6b53315ed993~X1-ZU12n0aacwoqxop_5xifh&service=emailtrackingservice

"Check out this home I found on Zillow."
ISadgqkxneruma0000000000.jpg Shared by
TheCryerTeam
Home photo
red-icon1.png For Sale
$1,800,000
4 bd, 7 ba, 9,148 sqft
641 Ruby Trust Way, Castle Rock, CO
View home

See Similar homes nearby

Home photo
red-icon1.png FOR SALE
$3,000,000
6 bd, 8.0 ba, 8596 sqft
651 Ruby Trust Dr, Castle Rock, CO 80108
Home photo
red-icon1.png FOR SALE
$1,049,000
4 bd, 5.0 ba, 4605 sqft
633 Castle Pines Dr S, Castle Rock, CO 80108
Home photo
red-icon1.png FOR SALE
$1,179,000
3 bd, 4.0 ba, 5666 sqft
5111 Pine River Trl, Castle Rock, CO 80108
See all similar homes
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MyTownCryer DenverMarketWatch | June 2018

Your monthly source for the latest Denver Area real estate news.

View this email in your browser

July 2018
Newsletter Header
Kentwood Real Estate
@Kentwood Broker Tour Fun!
Sometimes, we just have to have a bunch of fun in this business. Last Wednesday during our weekly broker tour we had our new listing at 641 Ruby Trust Way on Tour. Besides the fact that this home is beautiful, we wanted to spread everyone out and cover all the grounds.

This home has INCREDIBLE landscaping. In order to feature the yard, we decided to employ some fun and games. Dee’s ideas turned into full coverage of the entire property.

We sponsored an Amazon Gift Card Scavenger Hunt. Participation was strong, but based on the winners; speed, youth and eyesight may be key characteristics necessary to win at this fast paced game.

The first winner was Clark Jackson from way down into the gardens on the lower level. Although Clark was the first one to see the second gift card, she could not get there before Phelps Blair picked it up from the edge of the putting green. Finally, from the top of the water falls, Jeff Lopez risked life and limb to capture the elusive third gift card. Everyone was such a good sport, and everyone continued on tour with a bit of energy and fun associated with a good old fashion scavenger hunt.

In addition, we have a lot going on right now. We just returned from a lovely Baby Shower for our Grand Daughter (We know the name…). We’ve been Grand Puppy Sitting. And, we anxiously await the newest members of the Cryer Clan.

We have some fabulous new listings. This market remains "Red Hot", particularly under $500K, and in certain neighborhoods, there is virtually no inventory. Keep us in mind as you move through the Residential Jungle, and we will take the time to show you where the next "vine is hanging".

Safe Travels Everyone!

The Number of Homes in the Denver Real Estate Market Continues to Rise
There is good news if you are a prospective home buyer in the Denver area. Last month, the market experienced a near 25% increase in the number of homes on the market from April, with an active inventory of 6,437 single-family homes, townhomes and condominiums. Read More >>
Best Swimming Spots in Colorado
Looking for a way to cool off this summer? Colorado might be landlocked, but there are still plenty of incredible places to take a swim. Make your way to some of the best and most beautiful swimming spots in Colorado! Read More >>
Matching Window Style to the Style of Your House
Whether you are building a new home or remodeling an existing one, the window style you choose will help define its look. The right windows just seem to fit the design and complement other building components. Read More >>
Featured Properties
A Custom Carmel Ranch!
7150 East Berry Avenue, Greenwood Village CO
The most picturesque cul-de-sac site in Greenwood Village awaits you. Live on 2+ acres and walk to breakfast, lunch, dinner AND light rail! You will not believe how private yet accessible this home truly is! Turning up its private drive, all the stresses of the day fade away. You will be greeted by mature growth pines, flowering trees, and blooms from a variety of perennials and shrubs from Spring through Fall. The mountain views are panoramic and will be enjoyed from every vantage point f…
Full Property Details »
Castle Pines Village at Its Best!
641 Ruby Trust Way, Castle Rock CO
Perfectly Poised at the end of the cul-de-sac, this sophisticated Austin Signature Homes custom built ranch offers unparalleled appointments, flawless finishes, and impeccable condition. The storybook setting with its cascading waterfalls, stone walkways, and flower gardens sits amongst mature-growth pines. Views in the evening are as spectacular as those during the day and can be captured from almost every window and vantage point. A grand entry invites you in with lightly hand troweled w…
Full Property Details »
Cherry Creek Vista and Cherry Creek Schools
10775 East Maplewood Drive, Englewood CO
Don’t miss this well maintained and tastefully updated 2-story home in the popular Cherry Creek Vista neighborhood. Proximate to Cherry Creek State Park and in the award-winning Cherry Creek School District, this home checks all the boxes! Purposefully chosen by the current owners for its quiet street location and south facing driveway, this gem enjoys the always desirable, oversized 3 car garage, daylight basement, and vaulted ceilings. Big ticket items completed in 2015 include a Cer…
Full Property Details »
The Cryer Team
The Cryer Team 303-638-3202 Tom
303-887-3917 Dee
Contact Us »
Visit Our Website »
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Testimonial
Tom and Dee are the ultimate real estate professionals. Their step by step process in selling our house was amazing. Even more amazing is the way they educate their clients and present options to them based on the scenarios at hand. Perhaps their best asset is that they truly care about their client’s best interest. This was evident during the sale if our home. With our experience with them, it is without reservation or hesitation that I recommend them for all your real estate needs. You will not regret it.
-Brett M.
Kentwood Real Estate Kentwood Real Estate
4949 South Niagara Street #400
Denver , CO 80237
720-330-8888

EHORealtor

muwu561hemu
©2018 Kentwood Real Estate
If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. You are receiving this email as a current or former client of Kentwood Real Estate or one of its associates.
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@MyTownCryer #MondayMarketUpdate #4th #Crazy Week

641 Ruby Trust Way Castle Rock-print-042-67-Exterior Rear-2700x1800-300dpiWhen a National Holiday divides a week like it did last week, it is impossible to predict what might happen in our market, but it had a HUGE impact.  Look at those numbers!

Denver MLS Weekly Report

New Listing (1416) Certainly a slow week here!
Back On Market (308) We had one of these, buyers are crazy right now!
Price Increase (225)
Price Decrease (1042) As we move later in the year, this number will grow.
Under Contract (1566) Not a bad week, but nothing like the last two weeks.
Withdrawn (163)
Leased (39)
Sold (1386) This is a particularly slow week based on recent weeks.
Expired (257)

7150 E Berry Ave Englewood CO-print-005-45-Exterior Rear-2700x1800-300dpiMoving forward, we are anecdotally observing some build up of inventory in our perimeter markets particularly in our higher priced markets.  Close in under $500K still remains strong when well presented and well located.  If I was going to predict the future, I would predict that by year’s end, we will be experiencing a well defined “bifurcated market”.  This means price range and location will be the defining characteristics as to how “hot” said market is.

As always though, if you have any questions, concerns or just need an interested party to help you out, please, give us a call…tc

Posted in Caslte Rock, Castle Pines North, Castle Pines Village, CASTLE ROCK, Cherry Hills Village, Greenwood Village, Uncategorized | Leave a comment