Welcome, Good Morning, Ride Along!
As we move well into Q4, there is a lot to talk about.
First of all, #TuesdayVibe. In the Real Estate business, maybe more so than any business, there are “Coaching Legends”. Let’s see, Tom Hopkins, Howard Britton, Tom Ferry, Brian Buffini, and many more. What does this have to do with Tuesday? Some weeks, I sit down, and this post is finished in 15 minutes. This morning, after a fabulous weekend, I was at a loss for words. Then I saw this. “You don’t know what you’ve lost until its gone”…
And why is this? I don’t know, but as the Mandalorian would say, “This is the way”.
#Aggregators, whether you know it or not, are ruling your life. News, Data, Image, Entertainment, and just think about it; almost everything in our lives is ruled by aggregators. Your food? Yep! The grocery store you visit has brought together the items it feels you will be more attracted to while selling more items. News, yep! Keep this in mind. Even Real Estate is aggregated for you. Health Care, yep… You name it, it has been bundled and delivered to you in a manner the provider understands to be the most attractive and productive. Not all real estate aggregators are working for you!
#MortgageRates continue to be volatile, but this last week or so, they have been volatile in a downward direction. Having lived through a window of time where mortgage rates topped out at 17.5%, I hope our world does not have to do this again!!!
#Homeownership is important. If you follow us anywhere we post, you’ve seen our devotion to homeownership. I’m no political pundit, but I believe, I’m a great observer. And, I did not see a single campaign focus on #Homeownership! Not one. Did you know, over 90% of homeowners vote. Did you know only about 60% of non-homeowners vote. Whether you believe elections are rigged or fair, I believe #Homeownership brings people into focus with their neighbors, community, town, state and country. Over the next couple of years, let’s identify candidates who believe in #HomeOwnShip as much as we do!
Well, with all this blab out of they way, let’s talk Denver Real Estate.
New Listing (947) Similar to last week, not a lot here to bloat the market with competition!
Coming Soon (81)
Back On Market (211)
Price Increase (119)
Price Decrease (1567) Sellers still struggling with appropriate pricing right out of the chute.
Pending (935) This is a strong number on the same path as New Listings. Growth of Inventory still unlikely.
Closed (811) Dropping off here may be a trend toward more inventory. We’ll just have to watch.
Well then, what has happened with total SFR inventory levels?
We’ve observed all this confusion from midyear on, and the result is inventory of SFRs in Denver moving from 6,300 to 6,600. Still nothing here to see. I think the biggest thing to take from the numbers today is “Nobody is selling and Nobody is buying” is not true. Some are selling and some are buying is completely true. The market has a bit more balance today than it did during the early months of this year.
PREDICTION? Maybe we will get continued relief on rates; even a little would ease the anxiety of buyers committing to 30 years of something twice as high as just one year ago…
In the interim, as we always profess, residential real estate markets are complicated. If it was easy, all the online buyers would be making money. They are not, and some have even given up on the service of buying your home quickly for “Top Dollar”. Give us a call, 303-773-3399 or send us a note TheCryerTeam@Kentwood.com and we will sit down with you, talk through your ideas, and you will walk away with a Home Buyer Plan or a Home Seller Plan. We’ve helped so many people this year, and it makes us proud to be of their service so many times. One family we helped Buy or Sell 9 times, another 7, another 6 and many of our past clients have worked with us 5 times. That’s the true #TestimonialTuesday…tc