In a bifurcated price caldron of over and under $417K, Denver is as two faced as a middle school socialite.

In a bifurcated price caldron of over and under $417K, Denver is as two faced as a middle school socialite. Where Denver has a shortage and a multiple offer market at $200K and below in many neighborhoods, Denver’s Happy Face is clearly evident. Over the conventional loan limits of $417K, Denver shows its other evil face. In some market’s over $1M, there is standing inventory in excess of 2 years supply. The Denver Metro Area manages to survive in spite of Pennsylvania Ave., Wall St. and Capitol Hill. Here’s the bugaboo for Denver Residential Real Estate moving forward. A borrower putting 5, 10, or 20% down on a purchase a few years ago, has no equity today and in many cases is in a negative position. Short sales and Public Trustee sales will continue until we have gained real equity growth in our market. This will take us out into 2012 at least for those borrowers. Think 1989 as today, and 1992 as 2012, and you will have a good handle on what to look for in Denver’s Residential market. The deal to be made today is for the few move up buyers with equity. Selling in $0-500K range and moving up has never been better, and clearly rates will not be this gratuitous by then either. This is a time in the market where skilled advice will serve you well.

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About Tom & Dee Cryer

Your Friends in the Homeownership Business!
This entry was posted in Denver is as two faced as a middle school socialite., In a bifurcated price caldron of over and under $417K. Bookmark the permalink.

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