02/02/2021derful Denver Market Watch #Groundhogday

Good Morning Groundhogs Everywhere!

Kentwood’s Mother Ship

Once again, we have continued confirmation of a residential housing market in Denver running on empty. Limited inventory, ravenous demand and extremely rapid market velocity are obvious. There are multiple buyers for every new listing. This, in a market being held back by Covid, is really the surprising fact.

New Listing (720) OK, really? Too low!!!
Coming Soon (158) Buyers, get yourself ready!
Back On Market (162)
Price Increase (379) We are thinking this is properties going under contract above list price.
Price Decrease (271)
Pending (1475) Twice as many going under contract than coming on the market…
Withdrawn (116)
Leased (61)
Closed (1055) This is a very nice week. This is climbing while inventory is declining. Sellers’ Delight!
Expired (317)
MLS Data for the Last 7 Days

Who knew there was a “Punxsutawney Groundhog Club”? On a day like this with GameStop, Short Sellers, Market Rallying, it all rings true. The market doesn’t care and neither does the Groundhog. People are paying attention, however, and the quest for knowledge/wealth has always been there, and this will never change.

I was once told, “When the cabdriver is discussing ‘the market’ with you on the ride from the airport”….

We have the opportunity to discuss the residential market with Brokers all around this wonderful country. Almost without exception we are hearing, Limited Inventory, Strong Demand and Bidding Wars. I hate that expression; Bidding Wars. It’s not so much a war as it is the preparation for battle. Having a combination of “weapons” in one’s quiver is the most important thing. The Listing Broker and the Seller will be impressed with a Buyer coming to the table with all the issues of purchase resolved.

Being Credit Approved, having all funds accounted for and ready, having a lender who is willing to present you in the brightest light and finally, the choice of the real estate broker representing you can secure your place at the front of the line for the next new shiny listing on the street you want to call home.

We work with Buyers and Sellers all the time. Our testimonials on Zillow, Google, Realtor.com and our own website, http://www.thecryerteam.com are living proof we work for our client in every transaction every step of the way. You have a choice. Don’t wait for Punxsutawney Phil…

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01/26/2021onderful Denver Market Watch #Allthatglittersisnotgold…

We’ve started 2021, and now almost 4 weeks in, we start to see the story unfold. As we noted in yesterday’s blog post, Denver is still considered a “hot spot” on the national level for 2021, and this story isn’t going away anytime soon. Please follow along below.

While all this segues perfectly into my Hashtag above. I wish it weren’t so. Whenever a market’s pendulum swings too far one way or the other, eventually “the arm breaks”. All that glitters is never gold. Shakespeare had it right!

New Listing (644) This is dangerously low. What are sellers waiting for?
Coming Soon (138) Nothing here…
Back On Market (141)
Price Increase (372)
Price Decrease (314)
Pending (1435) Wow!!! This number is huge even for mid-season!
Withdrawn (100)
Leased (57)
Closed (995) My goodness; weren’t we busy around the holidays?
Expired (146)
The Last 7 Days from MLS Data

In Denver Metro, we have enjoyed 10+ years of an upward trend in home appreciation. My blog post from 01/2011 read a little differently. If you click back to a time when we were recovering from the excessively liberal lending policies of 2000-2008, we saw a market come apart at its seams and healing start. The title of that blog post read, “Denver Foreclosures Have Reached Their Peak and Turned the Corner, but….”

The headline today should read, “Buyers are locked out. There are no home choices for them to buy.” This is an incredibly harsh negative statement about our market. We complete transactions all the time with both buyers and sellers, but let me tell you, the buyer’s journey is significantly more difficult than the seller’s in this market. So, the joy of home ownership is a pilgrimage at best. The Glitter toward Homeownership is not golden when it takes such a concerted effort to achieve.

That’s why if you are a buyer, it is to your benefit to learn how our system works to give you the best opportunity to “come in first”. If you are a seller, learn from our experience by getting your home ready to “bring top dollar”. From your first home to your last, we will be there for you every step of the way…tc

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Welcome to 2021derful and My Town Cryer!

Your monthly source for community and real estate news.

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Denver Business Journal and Zillow Agree. Denver Residential Market to Remain Hot Into 2021derful…

By James Rodriguez  – Reporter, Denver Business Journal Jan 20, 2021, 10:01am EST

“Denver is expected to be the fifth-hottest home market in the U.S. in 2021, according to the results of a recent survey published by Zillow Inc. 

The Zillow Home Price Expectations Survey takes into account the predictions of more than 100 economists and real estate experts. More than half (56%) said they expected home value growth in Denver to outperform the national average this year.”

So far in 2021derful, I agree with these assessments of the Denver Market. Low, low inventory with high demand is the classic formula for even more price appreciation. #GoodtoBeASeller

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Denver Market Watch 01/19/2021derful “Changing of the Guard”

Have you seen it? You know, “The Changing of the Guard”, happens all over the world. The ceremony of palace guards changing order at a proclaimed time of day, everyday. It happens with a lot of camera flashes and virtually no noise. It goes off over and over again without a hitch.

Probably the most seen guard change in the US is at Arlington Cemetery. I’ve personally been present for Arlington, Buckingham Palace and the Prague Castle. It happens over and over again without much happenstance, but there is something about the uniforms, the boots on ground and the respect of the onlookers making it special every single time, rain or shine.

Well tomorrow, we will have a different kind of guard changing. The changing of our Executive Office is one of tremendous anticipation or regret depending on one’s politics. One thing is certain, however, and that is “the sun will come up tomorrow”, and based on the weatherman, in DC, it will be a sunny day tomorrow. Who knew? Having started in this business during latter days of Gerald Ford and the early days of Jimmy Carter, I can say with certainty, on Thursday, like mosts days, we will get up and do what we do with little or no notice. As the world turns, we continue to do what we do.

We will see many things change. Some gradually, some not so gradually. When I was a kid, I went to the office of our pediatrician in his own home. Now you can video chat with one’s medical specialist. When this business was all about paper, we waited on Fridays to get the MLS Book dropped off. With this in hand, we greeted the weekend with the most analogue source of information imaginable. Now, we can have alerts pop up on our handheld devices as we drive down the street. Now we can have someone buy our property and close within a couple of weeks, no muss, no fuss. (Or so they say…) Nothing is like it seems.

But, one thing is for sure, Bitcoin does not change hands without something or someone making a market. Your shares of Tesla do not change hands without something or someone making a market. Your real estate does not change hands without someone or something making a market. My point being, Without entrepreneurs making markets, participants will struggle to find value, and without value, Bitcoin, Stock and Real Estate will have less or no perceived value.

This makes the perfect segway into this weeks Market Watch. Over the last 7 days, it has been “deja vu all over again”.

New Listing (687) This is simply too low. Buying a property under $500K has become a “war zone”.
Coming Soon (106) Move along, nothing to see here!!!
Back On Market (133)
Price Increase (357)
Price Decrease (277)
Pending (1361) As we start 2021derful with this level of absorption means, “deja vu” all over again.
Withdrawn (72)
Leased (59)
Closed (993) A little research suggests, cash transactions with abbreviated escrow periods tells us, market velocity is key to getting a deal done.
Expired (144)
MLS Activity for the week before 01/19/2021derful…

So, along with the sun coming up every morning, it is almost as sure in the Denver Residential Housing Market there will be continued shortage and excess demand. So, what does this mean. If you are an owner already, this is the best time ever to have your home on the market. If you are a buyer, you have to prepare yourself for battle. You might even pick up, download or listen to Sun Tzu. Learning the strategy of war can never hurt, particularly in this market, but knowing who you’re going to battle with will serve you best…tc

TheCryerTeam@Kentwood.com 303-638-3202

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Monthly Douglas County Colorado Stats 2020

When a market area has a 30% jump in Sales Volume, it is a HOT Market!

21_Jan-AllMonthlyStats_Douglas_8.5×11.pdf

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01/12/2021 Denver Market Watch is Onederful!

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This blog started about 12 years ago. This link will take you back to those early days. This blog has always been a resource for the person with interest in the Denver Residential Market. Over the years, it has changed little from its original mission, and that was to keep you informed on a broad and sometimes narrow view of this market. Today, however, I have chosen a different perspective.

Participating in the acquisition of a residential purchase has its challenges. From the early stages of qualifying to the late stages of time spent at the “closing table”, by now, I think we have “seen it all”. That, however, is never true. There is always something over the horizon we’ve never seen before, coming our way. Maybe that’s what keeps this business so interesting thus keeping our interest, who knows? We love it, and we love serving our Clients and Customers “every step of the way”. There is one thing for sure, the sun does always come up tomorrow….

What’s happened over the last 7 days in the Denver Market?

New Listing (664) REALLY? We need inventory. Now is the time to sell!
Coming Soon (121) Still not enough!
Back On Market (175)
Price Increase (306)
Price Decrease (293)
Pending (1239) This is a “Mid-Season type number. Demand is high!
Withdrawn (116)
Leased (73)
Closed (1140) All these sellers stayed in their homes for the holidays…
Expired (153)

As you can readily see above, the breadth of this market is immense. Across all price ranges, communities and homeowner demands, this market is not letting up. It is a locomotive with no brakes roaring into the Station. Hold on to your hats 2021Derful is upon us.

Dee and I have closed transactions in all types of communities and neighborhoods. From a small “cabin” on 40 acres out on the eastern plains of Colorado to multi-million dollar homes on country club golf courses to the master planned communities with a neighborhood elementary and HOA amenities. Our multi-disciplined history in real estate provides the skill set you will want to accomplish this. So read our Testimonials, and make the decision for yourself. We’ll be there for you every step of the way...tc

TheCryerTeam@Kentwood.com 303-638-3202

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Denver Market Watch 01/05/2021 is Onederful!

It’s that time again. Time to look back and to look forward at the same time. The end of one year and the beginning of another is a time for reflection in our culture, so let’s dive in…

Just because 2020 is behind us does not mean we will see a rapid change in what’s been happening. Expect demand to continue to out pace supply in Denver’s Residential Real Estate Market. There is simply too many market characteristics encouraging buyers to dip their feet into this market. Rates are low, demographics are right, Denver’s geographic presence on the map is perfect (Being 500 miles from nowhere has advantages!), and the economics along the I-25 corridor from Wyoming to New Mexico is chocked full of opportunity. In my career I’ve seen a market like this just one other time, and it did not last nearly this long. Additionally, this corridor is the geographic center for the Rocky Mountain Region. Tourism, Transportation, Distribution, Access to Capital and Job Growth all center along the front range to the north and south of Denver.

Here are the headwinds facing this market. Affordability is number one. We are starting to run up against some economic resistance to home prices. #2 Would be taxes. Government is very good/bad at spending efficiently, and eventually, it will have to pay the bill. Long term, taxes will become a factor., and they never seem to go down. #3 Is and will be other, lower cost markets. This has been going on for years, but with Affordability and Taxes playing a much more defined roll, external competition will be a distraction for some new jobs/employers.

As we can see from this weeks MLS Data, not much has changed from weeks past. Demand out paces supply again, and not only that, but it out paced in dramatic fashion. These numbers will mean more in a couple of weeks. Please come back each week and keep up with the Denver Market.

New Listing (436). Incredibly low number here!!! We need inventory!
Coming Soon (95)
Back On Market (152)
Price Increase (346)
Price Decrease (162)
Pending (766) Considering it’s the partial first week of the year, demand is strong!
Withdrawn (111)
Leased (43)
Closed (1272) Closing out 2020 with a nice healthy number here…
Expired (1261)
All Data Sourced from REColorado.com

Finally, Dee and I had a great 2020. We stayed healthy, we sold a bunch of real estate, we spent a crazy amount of time with family, and we enjoyed the outdoors of Colorado and Utah. If you have not visited the National and State Parks in Colorado and Utah, they are magnificent! As soon as we get this Covid Monkey off our backs, we hope to do even more visiting of our national treasures.

In the meantime, please accept our thanks for all the referral business you bless us with every year. It is our honor to be your trusted advisor. Play it safe, and until we meet again let’s make the world a better place…tc2021

Remember to keep your perspective on life.
Sometimes a Fig Bar is better than a foot of powder in the back bowls, Right?

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Dee & Tom @ The Cryer Team – Kentwood Real Estate · There is no better time to be a seller!

Rates are at all time lows.
Inventory is at all time lows.
Buyer interest is at all time highs.
So, if you are considering a move, we are here for you. TheCryerTeam@Kentwood.com Happy New Years!

https://nextdoor.com/post/172341910?init_source=email_share

Tom Cryer
Tom@kentwood.com
303-638-3202
Www.TheCryerTeam.com

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Mortgage rates hover near record lows to close out 2020 — now here’s the bad news

https://www.marketwatch.com/story/mortgage-rates-hover-near-record-lows-to-close-out-2021-11609429164

Tom Cryer
Tom@kentwood.com
303-638-3202
Www.TheCryerTeam.com

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