Good Afternoon Everyone!
Today has nothing to do with Cannabis and everything to do with Cannabis. The legalization of Cannabis in 2014 sent Colorado down the path few states had traveled. It brought tax revenue, fear and joy all at once. Now 7 years later, it’s a story of “Figures don’t lie, but Liars figure”, to use a phrase from generations ago.
The DEA will tell you it has increased gun related violence due to the “cash” nature of the business. Some city revenue observers will relish in the new source of revenue from taxation. No matter where you stand on this issue, the fact we have a serious cash business with no place to store its income is a serious problem. Who knew what #Bitcoin was for?
Anyway, let’s take a look at this week’s numbers. Once again, the last 7 days shows a drop in New Listings from last week’s report. At the same time, both Pending and Closed transactions are up!!! This can’t keep happening. The fight to get into a new listing on Friday evening or Saturday morning for just 15 minutes is having a psychologically negative impact on buyers. In this game, if you are not first, You Are Last! Let’s take a look…
|New Listing (741) This is well of last week’s number over 900 new listings…|
|Coming Soon (227)|
|Back On Market (122)|
|Price Increase (293)|
|Price Decrease (241)|
|Pending (1927) This is a High Season number; the reason there is no inventory to be had.|
|Closed (1466) This is a moderate seasonal number, but across all price ranges, we are just seeking about 10% come back on the market.|
So, what’s the plan. Anecdotally, the plan right now is CASH. CASH is king. Or, can you find a way to to “look like cash”… AS a buyer, if you need a new loan, you have no way to look like an “A” Student to a seller, or do you? Starting out in the “B” Class is tough in this market! WE have had many successes in this environment. Let’s make you an “A” Student!
Let’s hop on line together and hash out a plan. It will not take long. We might even find a way for you to afford a home right here in Denver… TheCryerTeam@Kentwood.com