05/30/2023 #MemorialDay #TheUnofficialFirstDayofsummer

Posted on May 30, 2023 by Tom & Dee Cryer

Good Morning Everyone!

We made it through a weekend of hotdogs, pools and thunderstorms in honor of our fallen. I have often thought there should be a better reckoning with out service people who fought in wars and came back with memories from the war zone they’d much rather forget, As my father once said to me, “War is bad”. And, it still is…

For all these reasons, Memorial Day is often sold as the first day of summer. “Memorial Day often has been associated with the unofficial start of summer, because it can coincide with the end of the school year and because in much of the country, it’s when pools and public beaches open for the season.”

There’s much history in just this one row at Ft. Logan National Cemetery, and there is something meaningful about visiting our parents there. Solemn but connected. Amen

Well, this week Denver’s MLS reported much of the same as previous weeks, but in much smaller numbers than earlier in the month.

New Listing (1017) Not a very large number here, but comparable to the number of closings!
Coming Soon (262) A bit higher, but not Earth Shaking.
Back On Market (218)
Price Increase (109)
Price Decrease (820)
Pending (1083) Not a big number, but certainly in line with the other numbers.
Withdrawn (137)
Leased (64)
Closed (1021) Not much to brag about her, but still keeping pace with the others.
Expired (128)

I guess what we can take away from this week’s numbers is total counts are down, but at a level equal to their corresponding numbers, so, no harm no foul and the “Beat Goes On”…

Where has the total number of listings gone? Let’s see…

We have healed since the Interest Rate onslaught of Last June. We only have 4,424 total SFRs Actively Listed in the 11 county MLS Area. This would be considered a shortage at any other time, except, With rates bouncing off the highs of 7% not many are moving either. “Where would I go, I have a 2.99% rate on my current residence!”

With all this said this morning, we have celebrated an important weekend and we are still here, and we wish the same for you. As always, don’t hesitate to pick of the phone and give us a call….tc

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05/23/2023 #Cheap or #Inexpensive

Posted on May 23, 2023 by Tom & Dee Cryer

Hello Everyone,

WE hope each and everyone of you are living the life you deserve.

Today, I want to talk about #Cheap and/or #Inexpensive. The word #Cheap has infiltrated our vocabulary as a society like the plague. Everything is #Cheap or #Cheaper. I’m sorry, but when discussing homes in excess of $500,000, I just don’t believe CHEAP is the appropriate word usage. What’s CHEAP about $500,000?

On the other hand, when discussing issues of value about homes, to me, the usage of #Inexpensive or #Expensive seems more appropriate. I’d love to have you share your thoughts. Please use the comment box below.

In Denver over the last few days, there is nothing in our marketplace making our homes #Cheaper. Take a look…

New Listing (1257) Not a bad week, but certainly not Earth Shaking!
Coming Soon (156) Lover then last week!
Back On Market (262)
Price Increase (148)
Price Decrease (1085) This is HUGE. What is up with Broker/Seller pricing?
Pending (1514) This is a very good week!
Withdrawn (161)
Leased (91)
Closed (1296) Not bad at all here. Up a little bit…
Expired (201)

Week in and week out, we continue to present strong numbers of a market well away from external characteristics which could cause decay. I’m impressed!

We have fewer listing now than we did a year ago and rates are almost double what they were then. Here’s what it looks like…

I believe, if the bond market were to change course and go lower, we would have huge supply problem in the Denver Residential Market. Can’t see the FED lowering rates anytime soon…

Overall, WE continue to see our Buyers and Sellers reach agreements to buy and sell that approach a more fair market than one year ago, but there are some cracks around the edges in more distant suburbs and remote areas where market times are longer and prices are down from years past. But, are they #Cheaper or less #Expensive?

You decide…tc

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05/15/2023 #MillerMoths

Posted on May 15, 2023 by Tom & Dee Cryer

Why are miller moths in my house?

“But the miller moth — which Harp said gets its name from early settlers who thought the moth’s scales (when shed) resembled grain mill dust — is mostly attracted to light and heat in homes and automobiles. Harp recommends shutting doors tightly and turning off lights to keep the insects out of homes.”

Who knew?

This is from the Kobeissi Newsletter. I follow this for its great ideas. What do you think of this one?

“The supply of new homes for sale is down nearly 30% since September 2022.

Millions of homeowners are locked-in to sub-3% mortgages and do not want to sell.

In result, rapidly rising rates have barely made a dent in the housing market.

Soon, the Fed will begin cutting interest rates again.

Once mortgage rates begin to pull back again, the housing market may be setting up for another run higher.

As long as mortgage rates are above 3%, supply is likely to remain tight.

The bubble gets bigger.”

From the… https://www.thekobeissiletter.com/

So, what happened in the Denver MLS this week?

New Listing (1244) This is a solid performance here. Give us some new clean inventory!
Coming Soon (275) This is up a bunch from last week!
Back On Market (205)
Price Increase (130)
Price Decrease (867)
Pending (1265) This is a solid number too!
Withdrawn (167)
Leased (80)
Closed (1025) Once again, buyers and sellers are finding their way to the closing table…
Expired (143)

Not bad numbers at all, with the total active listings of both attached and detached, there is still less than 5 weeks supply in the surrounding 11 counties.

What’s up next? In about 2 months, the Fed will meet again, if we see no change in the Fed Rate, we may be off to the races. If we have another painful increase. In my mind, everything will be done to keep the pain in 2023, because you know what?, 2024 is an election year, and the paint will be coming out to make everything rosie…

In spite of all the headwinds and Black Swans in the water, Dee and I continue to work successfully with buyers and sellers. Experience counts. Don’t be fooled…tc

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05/09/2023 #TheTaxMan #PropertyAssessment #Assessor

Posted on May 9, 2023 by Tom & Dee Cryer

Good Morning America!

We just picked up an American Made Flag for our front porch. I must say, it looks good! The same day, we received our Property Assessment from the County. I sure hope the mil levy gets adjusted, otherwise our tax bill is going to hurt! This is reality…

So, the Assessor evaluates and establishes the Assessment, the Treasurer will establish the mill levy and ultimate tax bill. The greatness of America is the result of responsible citizens paying their taxes at the federal, state and local levels, and by the way, don’t forget sales tax…

OK, let’s get after it. Over the last seven days, this is what Denver’s market looked like. It was a strong week for New Listing and Pending Sales.

New Listing (1341) A solid spring number. Buyers may find something new!
Coming Soon (236) Also, a solid number to anticipate.
Back On Market (242)
Price Increase (192)
Price Decrease (1046) This is just CRAZY! It appears that 80% of new listing ultimately receive a price reduction at least once. This is an indication of changing market conditions.
Pending (1399) Once again, this is a strong number, but not Earth shattering in any way.
Withdrawn (143)
Leased (77)
Closed (1107) This is an average week, nothing to brag about here.
Expired (164)

Now let’s look at the average price in the 11 counties making up Denver Metro.

Over the last 10 years, we’ve seen our average price more than double. Much of this is the result of highest prices in our market exploding. Now, we are seeing the highest price ranges taking a breather, and this has lowered our average sales price so far this year. More to come on this.

Next week, I will show you where this Top End pricing and inventory is going. In the meantime, be safe out there…tc

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05/04/2023

Posted on May 4, 2023 by Tom & Dee Cryer

Do you have a quote you live your life by or think of often?

Everything you do affects someone else.

Think dirty dishes…

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05/04/2023

Posted on May 4, 2023 by Tom & Dee Cryer

May the 4th be with you!

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05/02/2023 #piñata #TestimonialTuesday #DenverMarketWatch

Posted on May 2, 2023 by Tom & Dee Cryer

“Buying a house out of state is very challenging but the Cryer team was so amazing! They are very knowledgeable and patient as we made a difficult decision! “ Stacy M.

With Cinco de Mayo just around the corner, I need a Piñata for the kids. Where do you get yours?

Let’s get right into it. The headwinds are so strong. Why isn’t our market suffering? If you don’t believe me, ask @GloriaAlvarez85.

The last 7 days in our MLS looked like this.

New Listing (1205) This is not bad, but into May now, I’d like to see 1,400ish for buyers.
Coming Soon (285) Not much higher than normal.
Back On Market (220)
Price Increase (160) Big, Big, Big improvement here!!!
Price Decrease (834)
Pending (1437) A solid week, where are buyers finding these properties?
Withdrawn (161)
Leased (103)
Closed (1399) Solid!
Expired (373) Capitulation? Giving up? Almost double the “Back on Market”…

Well then, if we’ve had another pretty solid week, when will the “shoe drop”? Rates, War, Taxes, Politics, Division, Believers, Deniers, Producers, Looters and Moochers…

Here’s what Denver’s Supply and Demand looks like.

Other than 2021 and 2022, there hasn’t been lower supply of Single Family Residences than now over the last 10 years.

More to digest this week. The number of sales continues to impress in spite of low inventory…

So, that’s all for this week. Let’s keep an eye on the past while looking forward. Denver has a good market full of good people working every day to make the world around them better every day!

@mytowncryer

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What will the Fed do on Wednesday?

Posted on April 30, 2023 by Tom & Dee Cryer

The Federal Reserve considers a variety of economic indicators, including employment levels, inflation rates, consumer spending, and overall economic growth. They also analyze global economic trends and geopolitical risks that could impact the US economy. Their decisions are based on data-driven analysis and careful consideration of market conditions.

My guess? Another .25 will hit the street. Count on it. I don’t know the number, but some number will have to feel pain before the fed lightens up! Nerdie economists have to exert their power; don’t they?

It won’t be pretty!

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04/25/2023 #UnintendedConsequenses #KISS #NewlyDeveloping #MilkToast

Posted on April 25, 2023 by Tom & Dee Cryer

Good Morning,

Let’s face it, many of say we don’t mind change, but we really don’t like change. When I learned the concept of “Planned Obscolesence” I was maybe 15 or a little younger. “Do you mean a company would purposely build a product knowing it could be better, but the next generation will help sales long term so the producer holds back now?” The auto industry, appliance industry, and I could argue home builders have done it too. For the most part now it is hidden by the slow trickle from more expensive new models over the years.

Are the #UnintendedCosequences of #PlannedObsolescence a customer tax? I could argue “Yes they are.” The break even analysis isn’t always a good thing for the customer! But, as the #Mandolorin would say, “This is the way…”

This morning, I’d like to keep it simple. Every politician will be advocating for #AfforabkeHouusing in the next election. When the election is over, nothing will be done to moderate building codes or reduce development costs, or mitigate impact fees, and I could go on and on, #KeepingItSimpleStupid or KISS is my theme.

So, I will revert to something my father told me more than enough times. “Don’t overlook the obvious.” So, my answer to all if this is, we can no longer be lazy voters. We have to challenge our elected officials, we have to be present, and we can’t assume they are working for our grandchildren. #MilkToast can’t stand on its own.

But, what happened in the Denver Residential Market this week? This is what the the Denver MLS gave us.

New Listing (1115) Not enough!
Coming Soon (270)
Back On Market (210)
Price Increase (190)
Price Decrease (850) Too many! Are original list prices too high, or is the market falling?
Pending (1405) Strong week. The buyers are smart, hunting for the weak and tired seller!
Withdrawn (131)
Leased (76)
Closed (1114) In spite of it all, Buyers and Sellers are meeting at the closing with Funds and Keys respectively.
Expired (145) Very few sellers giving up!

This another week of statistics with no “Henny Penny” stories in Denver. Congratulations.

What about the bigger picture of total Active Listings? With just over 4,114 Active listings as we moved into April, this is the lowest listing count other than 2021 and 2022 in the last 10 years!

As you can see, we have left the shock of high interest rates far behind to last summer and no impact left for the summer of ’23. But, wait a minute, what are the headwinds, Black Swans and crises of 2023 to be? Nobody knows for sure, but the overall the economy will roll from one industry to the next. Turns out, our nation’s CEOs are no smarter, and no more prepared than the rest of us. Additionally, some are even so eager to jump in the fray, and they are willing to leave the stockholders “holding the bag”. Who are they working for? #TheTimesAreaChangin’

Please keep in touch, and we will do our best…tc

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04/18/2023 #DenverRealEstate #MarketWatch #Rates #MultipleOffers

Posted on April 17, 2023 by Tom & Dee Cryer

Good Morning Everyone,

Let’s get right into it. Over the last seven days, our Denver MLS System has enjoyed an active market. We’ll take a look at this right now…

New Listing (1260) This is a strong number for supply. Buyers should be encouraged!
Coming Soon (260) Additionally, a strong number here too…
Back On Market (224)
Price Increase (159)
Price Decrease (759) Pricing after last year’s comps is troubling.
Pending (1398) A very strong number after a long Easter Weekend.
Withdrawn (136)
Leased (82)
Closed (1106) A good number, but whenever this number is less than New Listings, Supply will grow.
Expired (233) I follow Expired Listings for a couple of zip codes, and Sellers are giving up, keeping supply down.

So, the long story short for the last 7 days, more of the same, but we can see a spring twist to this story where we should start expecting more fresh inventory each week for the next 60 days. Let’s see what happens.

Now, let’s take a look at the trend of inventory over the last 10 years to understand what’s happening now.

The number of Active Listings is up from last week with 4,023 which is up from 3,943. These numbers are in line with the last 10 years with generally lower rates than today. I would like to point out right here, #RATES go up faster than they come down. Don’t expect an interest rate drop in a hurry!

In spite of this, every transaction Dee and I have been apart of so far in 2023 has had a #MULTIPLEOFFER component to it. Good Inventory still has more buyers chasing the sellers offering. These offers are generally from buyers who can afford this new rate paradigm with perceived job security.

#DENVERMARKETWATCH is what WE do. We are watching out, so you don’t have too. It is a great time to be a seller, and it is a great time to be a buyer. Give us a call and let us show you how….tc

Let me leave you today with some #EASTERBUNNYMAGIC…TC

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