Good Morning Everyone,
This is a great country! This week we have a famous fund manager arguing with a famous startup billionaire with diametrically opposed opinions about INFLATION on National Pumpkin Day! If I didn’t read it in the “news”, I wouldn’t believe it. Where would the world be without #Twitter?
Inflation is something I know a little bit about. When Dee and I bought our first together house in 1982, interest rates on a 30 year fixed rate mortgage were 14.5%. Inflation rates were down to 6% from 13% in 1980. The “silent tax” ruins lives; slowly, surely and continuously, it ruins lives! The cost of living ruins people on fixed incomes. Prices get so high consumers stop buying. Businesses get killed. If you bought a house in many parts of Denver in 1982, it may have had a completely stagnant value all the way to 1992. Owning a home during this window of time was all about debt reduction, tax advantages and the benefits of a fixed monthly housing cost. So, even in the worst of times, home ownership still had a very predictable and very valuable outcome! #HomeownershipMatters
What’s up this week with #DenverRealEstate?
|New Listing (925) To Low!|
|Coming Soon (123)|
|Back On Market (227)|
|Price Increase (192)|
|Price Decrease (570)|
|Pending (1707) Wow!|
|Closed (1574) What a market!|
Week in and week out Denver’s market keeps proving the #BubbleWatchers wrong. Let’s take a look at Denver’s Market over time.
Call me when we have over 20,000 listings like 2011 and 2011. This market will continue to be very active with strong buyer demand and short seller supply. The “Black Swan” mentality is out there. Interest Rates, Covid, War, Wall St., Inflation, you name it, but Denver’s market fights back with its vibrant demographics, strategic geographic location, and a desirable and unique lifestyle. No need to worry today!
Let’s make a prediction. Next week’s #hashtag could be anything on the 3rd Rock, but I’m betting everyone will be coming unglued with #Election, #Inflation and #China. What’s your bet?
In the meantime, read this anecdotal episode on a property I took a look at last week. “We had over 110 showings and more than 30 offers from activity on Thursday, Friday, and Saturday.” Make sure your Professional Team has the experience to carry you to the closing table. This market requires it.
Dee and Tom Cryer, SCRP
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-887-3917 / 303-638-3202
PS… That listing is only a mile from my own home. This market is real.