Your monthly source for community and real estate news.
It has been reported, 28,000 Californians moved to Colorado last year (2019). From what Dee and I have seen in 2020, We are betting it will be even more this year. Although people migrate to Colorado from all states, Californians are becoming #1. Something like this happened in the 1970s in search of John Denver and Coors Light.
Why are these moves taking place? Here is just one story recently written on the subject.
“More people are leaving California than ever before, driven out by worsening wildfires, politics and the skyrocketing cost of living.
More people are leaving California than arriving, driven out by worsening wildfires, power outages and the skyrocketing cost of living.
In 2018 more than 86,000 people left California for Texas, nearly 70,000 left for Arizona and about 55,000 left for Washington.
Between 2007 and 2016, some 5 million residents moved to California and 6million people moved out to other states.
According to a poll locals say they consider leaving due to the high cost of housing, heavy taxation, or political culture.
Today more than two dozen fires are blazing, ripping through a record 3.1 million acres of land and killing 22 people, the worse inferno in the state’s history.”
If you are reading this in California, and if you are looking for a new “nest”, please, give us a call. We can show you a Colorado Lifestyle you might not be living in California, but would like to. From Durango to Sterling. From Grand Junction to Limon, and everywhere in between. Colorado offers Big City Life, to Resort Life, to Small Town Life, to Rural Life. Along the Front Range, Ft. Collins, Longmont, Loveland, Boulder, Denver, Colorado Springs and Pueblo can replace your I-405 Corridor. Loveland, Breckenridge, Keystone, Steamboat Springs, Copper Mountain, Vail, Aspen and Telluride round out resort life. Rocky Mountain National Park, Great Sand Dunes, Mesa Verde, Garden of the Gods, Colorado Monument, Dinosaur National Monument and a myriad of State Parks, National Forests, Historic Sites and VIEWS await. OH, let’s not forget one of my favorites; The Alpine Loop is by far one of those mountain settings in which The Sound of Music would be proud to do reshoot.
Any which way you slice it, Beauty, Value, Recreation, Commerce, Sustainability or Transportation, Colorado has it going on. So, pick up the phone and give us a call. WE can make it happen for you.
Did you know? I didn’t. #DollyParton established a fund at Vanderbilt University that ultimately helped Moderna create their Covid vaccine. Pretty cool. The little and big things we do can have lasting affects, and make real differences. Who doesn’t have some kind of story like this during the time of C-19.
The election, Covid, unrest and working from home all seem to be contributing in some fashion to Denver’s residential real estate market. Week after week, after week, we continue to see supply and demand numbers like we’ve never seen before. Under contracts at atypical season highs. Closings reflecting late spring and early summer ranges, and listing numbers typical of a Christmas, New Year’s week. It is simply mind boggling.
I started working with MLS numbers in the mid 1970s for my brother’s appraisal company. It was common to run at about 2-2.5 Listings for every closing. Occasionally, it would hit 1.5 active listings for every closing 1977-1980. BUT, in this market, we have been under 1 new listing for every closing and it has really been quite stressful on the entire market. Buyers get angry. Sellers get confused. Brokers struggle to price accordingly. And appraisers, well let’s just say, they are earning their keep.
Let’s look at this week’s numbers from ReColorado.com.
|New Listing (849). Not enough inventory. Buyers are frustrated!|
|Coming Soon (100)|
|Back On Market (232)|
|Price Increase (253)|
|Price Decrease (637)|
|Pending (1541). This is a midseason strong number!|
|Closed (1508). Once again, this is a mid-season number!|
As we take a look at these numbers each and every week, it is tough to understand the their meaning. So, let’s take a look at the market through our eyes, anecdotally. Dee and I field phone calls on a daily basis. The calls have become routinely, “We live in California, and we need to move to Denver because, We like Denver, Our grandchildren are there, it’s not as crowded, I can work from home anywhere, why not Denver, and last but not least, It is easier to run my business in Colorado.” The household goods movers continue to tell us trucks arrive in Colorado full, but have to reposition to their next pickup empty. Let’s be thankful for all this activity in Denver. With all the frustration that comes along with a “tight” market, this is so much better than 2008-2012. Back then we suffered with close to 30,000 active listings. Today, we struggle with slightly more than 4,000 active listings in an even larger, more populous geographic area.
The Realtors carry a heavy load. They provide the data that “makes the market understandable”. Zillow doesn’t work without our input. OpenDoor can’t buy your house without the data we submit to the syndicator. By being in the market every single day, we accumulate volumes of anecdotal information which becomes invaluable to the next participant in our sphere. Please don’t underestimate the Realtors’ value. And, please don’t underestimate how we can differentiate ourselves with the depth and quality of market knowledge and service.
The successes we have logged this year all share a cooperative partner seeking a well executed plan, a defined timeline, and the desire for change. We can assist you with the same kind of professional service. We would be honored to be your trusted advisor. Let’s discuss your plan of action today!
Dee and Tom Cryer TheCryerTeam@Kentwood.com 303-773-3399
I often wonder about my father around Veterans day. For that matter, I wonder about him on Memorial Day, etc. He would have been 100 last year. A few times he would answer a question or two about his service in the Navy. Retiring as a full Commander, service in the Pacific during WWII, and many, many years in the reserves at Ft. McHenry in Baltimore. I remember one quote that has always stood above the rest. “There is nothing good about war.” Most of his career was spent in the Defense Industry. One of his early achievements was being the project engineer on the guidance system for the Nike Missile Program. I bet you thought Nike was a shoe? Well, no, it was one of our amazing feats during the “Cold War”. The rest is history, and I came along a short time later, but the cold war continued. The unrest of the 1960s, the absurdity of the 1970s, the excesses of the ’80s and ’90s, and well you know the rest.
I’m not sure why I am sharing this with you today. Maybe in my own mind, life goes on. The Pandemic, Politics, Technology, Economics and more, just can’t stop us from crossing the finish line into 2021. I can’t tell you it will be any better, and I’m not sure it can be any worse. I can tell you the eternal inertia of the human spirit will continue to roll. Roll Tide, Roll!
What I can tell you is simple and direct. Over the last 7 days, we hit a new low for weekly new listings, we arrived at very strong weekly list of pending listings and we crossed the goal line with over 1,600 closed transactions. If there ever was a seller’s market, we are in it now.
|New Listing (883) Crazy Low!|
|Coming Soon (107)|
|Back On Market (266)|
|Price Increase (325)|
|Price Decrease (702)|
|Pending (1512) A Very Good Week!|
|Closed (1610) And, Another Very Good Week Here, Too!|
Powell has stated emphatically, he will do everything in the Fed’s power to keep rates low. Denver continues to attract new employers and lifestyle seekers on a daily, weekly and monthly basis almost to the point of absurdity. If there is such a thing as “back to normal”, our market is clearly not hearing the cry! A serious shortage of inventory is plaguing us!
Long story short, rates are great, and prices will be higher next spring, so get out there. Fight the good fight. Win a listing and make it your home. Nothing is forever! And, if you are contemplating a move, there has NEVER been a better time to list your home for sale. Period!
The next time you see one of our listings pop up here, take a time out, and come see it. When a buyer sees a listing in person, and then watches it go under contract, the market becomes more clear. Don’t deny yourself this education.
In the meantime, we continue to comb our data base for potential sellers, and we are up early and out late trying to find that illusive “perfect” home for our buyers. There is no question, this market has made our work more demanding, but it has also made us better.
Let’s start a conversation; right now, right here, today. Let us create a customized plan balancing your needs, wants, timing and comfort. It can be done, we do it all the time.
There is so much going on! I just came from the barber, and the excitement over this election is like no other. I can remember as a little kid, my brother Cliff, reached out to a slow moving motorcade and shook JFK’s hand. Not since then, have I personally seen so much excitement surrounding a presidential election.
But, this is not what I do. I report on Denver’s Residential Market from MLS data on a weekly basis. Let me tell you, these numbers are just as exciting as any Presidential Election in their own way. Closings are HUGE. Pendings are HUGE. New Listings are not!!!
|New Listing (869) This reminiscent of a Christmas/New Years week.|
|Coming Soon (120)|
|Back On Market (254)|
|Price Increase (266)|
|Price Decrease (720)|
|Pending (1618) A typical week for Contracts, not great, not bad.|
|Closed (2149) This is HUGE! Seldom does a 7 day total exceed 2,000 units.|
What’s next? As I have often expressed in these posts, I can’t predict the future, but I sure can guess. My guess is more of the same. There will be the typical “shock” of the election outcome. There will be some knuckleheads running around crying. There will be some volatility in the market through year’s end. And, people needing shelter will still be moving. Life goes on. In my lifetime, the DOW could still hit 100,000, and if we had more LISTINGS in this market, we would have even more sales!
What do you think of all that? It’s a guess right?
Anyway, if you are buying, selling, moving to another state or even another country or if you know anyone who might be, please come to us. We pride ourselves in your satisfaction. We advocate for you. Your wants and needs motivate us to complete your mission.
Don’t worry, they’re not haunted (probably …).
When the Pandemic was announced, The Cryer Team was already well into 2020. We had been executing our business plan, following up with our clients, enjoying the fruits of repeat business and hunkering down with our family.
Throughout this window of uncertainty, Denver became one of the most vibrant residential markets. Low rates, low inventory, and veracious buyer demand created the perfect storm, and we’ve been riding this wave all year.
Along the way, we’ve benefited from Kentwood’s ever present improvements to our Tech, Marketing and RE Support. Our new Marketing Coordinator, Gabi, has added a spark to our public face, our omnipresent Transaction Coordinator, Kristy, has decades of experience and Dee and I are constantly updating our skills with continuing education, office interaction and a plethora of transactions every year with each one of them requiring a special skill, knowledge or expertise.
Below, you will find a few of our recent transactions. Please visit our newly simplified website, explore and enjoy its rich and vibrant content.
For the time being, if you have thoughts of making a move. Give us an hour. Let’s discuss your needs and wants. We would be honored to be your trusted real estate advisor.