True or false: You should renovate before you sell

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Do you know fact from fiction?eo?_t=136d647b88304d6c827d39dbe797d50a&_m=be71b9e4bf8648379549244648c3167f&_e=-XgxuyFn3TctxKCufLZiuDCC8zTlS1Hx2J7x_S1_wKPeJeGboYXJWMwCI_-n_m0G4gXMo03qLCjckglhcYH480YX_yJ0do56Rd0tx9soWD_9w_8Id4EC9Ow5OpFVH0U_Z8UQ4BaGE5rdStErDXBTkueybG6ZuNyIBrbjwZ9e71iiPf4rNgALvjkxRnCAbMYJ

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#DenverMarketWatch @TheCryerTeam #NextYear #LastYear

We have a choiceThere is an old expression.  “Buyers want last year’s prices, but sellers want next year’s prices.”  This is extremely true when the market is rapidly appreciating.  Buyers and Sellers always have a choice until they don’t.  We believe there is nothing more complicated than the minds of buyers and sellers.  They can swing from one “Must Have” to another “Must Have” in a single afternoon of showings.  So, let’s not drift…

Let’s jump right into it this morning and take a look at what’s happened last week as presented by the Denver Residential MLS System.  We had 1,656 seller’s reduce there list price, with another 228 let their listing expire.  That’s almost 1,900 sellers giving into the market to obtain 1,543 under contract listings.  When ever we see Under Contracts fall below the other two variables, it gives us pause the consider how the market might be drifting.

New Listing (1425) This is a typical seasonal number.
Back On Market (265)
Price Increase (135)
Price Decrease (1656) In light of the other numbers, this is disconcerting for sellers!
Under Contract (1543) A nice seasonal number.
Withdrawn (187)
Leased (57)
Sold (1267) Anyway you count them, this is a “low” number. (Let’s talk here.)
Expired (228)

So, the long story short this morning is this.  Is this market drifting toward a more buyer friendly market?  Have sellers seen the last of double digit appreciation and will 1-4% annual appreciation be the norm moving forward?  All this seeds are here for this to play out.

By years end, we will learn so much more than we now know.  China and the NYSE/NASDAQ, etc. will have played their hands.  Interest rates will be a topic of great concern, but for now, rates couldn’t be better for buyers.  Well, they could be better, but in a historical context, they are fantastic!

What would we do? (WWWD)  We would look to jump in if we were buyers.  These rates actually make affordability this year fantastic.  If we were sellers, we would pay close attention to the activity on our listing and take our Realtor’s advice on pricing.  For a seller, now is not the time to challenge the market.  We would advice our seller to price ahead of the market which might actually be a little lower than what you are planning today.

It's a good week!So, as we look back to the top and reread our opening quote, we don’t want you to be that buyer or that seller.  We want you to be in the present with a clear view of what’s happened and what could possibly happen.  This is why you need a plan.  A clear and open plan with all parties involved.  Let’s spend an hour together and work on that plan.  The choice is yours.

Dee and Tom Cryer, 303-773-3399 or TheCryerTeam@Kentwood.com

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This treehouse will leave you amazed ✨

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And so will these yurts and homes on wheels.eo?_t=136d647b88304d6c827d39dbe797d50a&_m=9c35ecc6d3d345ee9acecfe21fda34ce&_e=0vfvrdfoEX985dU9CA9nQopH7NkgrPPfuAkVQiAvdya8IA4l8GTHpSw1HaXz4PDBKVwmidBbhgsvpHgVE9wpvXl6spQbYU_uoevFJKGckK7uE1xYjjjm98QiHmoMB1gzMFY0HDaFfOADrd_O0ejzRcbKkk1xLAV_UCPqe0BS8evjMBchQ4_S-A-jjQn1S2d2

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#DenverMarketWatch @TheCryerTeam #BlackSwan

black-swanNow is not the time to PANIC.  The stock market will swing like a pendulum as it always has.  But, everyone wants to know.  What is the #BlackSwan to hit the Denver Residential Market?

Right now, everything is great.  Low rates and an expansion of inventory for the typical buyer.  Over the last few days, we have hit 3.75% for a 30 year fixed rate mortgage!  This is fantastic for a buyer.  We have over 9,000 active listed resale properties for buyers to peruse.  So what’s the #BlackSwan?

Well, if we look closely at this week’s MLS stats, a few things are becoming very apparent.  First, all the way at the bottom.  476 Sellers have let their listings expire, and another 1,645 sellers have reduced their list price.  These numbers express a lot of seller disappointment in the market place.

On the other hand, with these expirations and price reductions, 1,495 buyers have found a property to place under contract and another 1,692 have gone to closing.  No #BlackSwan here!

Let’s look at all the numbers now:

New Listing (1486) Very healthy and happy for buyers.
Back On Market (295)
Price Increase (139)
Price Decrease (1645) Sellers want to get it done!
Under Contract (1495) Not a bad week, but no record setter!
Withdrawn (219)
Leased (56)
Sold (1692) I’d love to see a number like this every week!
Expired (476) Disheartened sellers are apparent in the market!

So, I know you’re waiting for my answer.  What is the #BlackSwan sneaking up on us?  Our #BlackSwan is affordability!  Everyday, I hear over and over and over again.  “Denver seems so expensive”.  When affordability hits, it hits slowly.  It creeps up on the market.  Sooner or later, the buyer is pinched to the point of, “Let’s rent”.

Well, I don’t think this will happen immediately, but the combination of so many apartments coming on the market at the same time will be impactful, and buyers will stay on the sidelines until they perceive an affordability gap.  For the time being, our #BlackSwan is on the sidelines, but always nearby, but it can approach quietly, without motion, without anyone seeing it.  It will be interesting to see how our market adapts to this #BlackSwan…

As always, our job is to protect you from the #BlackSwans in the market place.  Call us, let’s spend an hour coming up with plan.  Dee and Tom Cryer 303-773-3399 or TheCryerTeam@Kentwood.com Thank You!

And,

Back to school

 be careful out there!!!

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How to plan the ultimate summer staycation

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Bring on the long, lazy days — all it takes is a little prep.eo?_t=136d647b88304d6c827d39dbe797d50a&_m=da5bd0f8d9c74cd0afd6ab676b156db3&_e=YCcY5SoGucDriTFyKZm_EaxwWQg0P2FuftKLn3mjGHkAcJzuX1e70ZIfVAZlUpxCb7cQcKcgdbSWquwazWYQ3aw36L9uJ-oO0OSVitc-tSkSEZplZ9DymV6BMJyuO7jv9xhqmiJNg-PBzovnHTN61wiOpU5_fXN7muVH_q7REA2fwUyR6tg73ogpv48Xgype

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Your Denver Market Watch | July 2019

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Your monthly source for the latest Denver Area real estate news.
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Kentwood Real Estate
Denver Real Estate Midyear 2019 Update
With metro-Denver housing inventory at its highest level since October 2013 and interest rates still low, now is a good time for home buyers. On the flip side, with home prices peaking now is also a good time for home sellers; making for a more balanced market. Read More >>
7 Maintenance Skills all Homeowners Should Know
While we wish homeownership came with an instruction manual, it’s likely you will have to learn through hands-on experience. Here are a few basic home maintenance skills every homeowner should master. Read More >>
8 Best Places for Boating in Colorado
According to Colorado Parks and Wildlife, there are over 2,000 lakes and reservoirs where you can go to have a boating adventure! These 8 locations are the perfect place to hit the water this summer. Read More >>
Featured Properties
7787 South Valentia Street in Willow Creek
7787 South Valentia Street, Centennial CO
Location, Location, Location! Purposely placed just 4 doors to the Willow Creek I Pool and Club House Trail. Everyone can come and go without ever crossing a street. As you know, Willow Creek’s Trail System and Greenbelts rival a PGA Golf Course. Amenities within and surrounding Willow Creek are Top Drawer. Park Meadows, Restaurants, Public Transit and more all within walking distance or a short, short drive. And, let’s not forget the Nationally recognized Cherry Creek Schools, State Parks, C…
Full Property Details »
853 South Medea Way in Bonnie Brae
853 South Medea Way, Denver CO
A quintessential Bonnie Brae Tudor in pristine condition awaits you. As you walk up the flagstone steps, a welcoming patio for morning coffee, afternoon tea or evening cocktails greets you. The original stone surround of the front door leads you into the best of both new & cherished, original features. The remodeled kitchen will entice you to cook at home with its top of the line stainless steel appliances. From the frameless cabinets with soft close doors & drawers to the Quartz coun…
Full Property Details »
The Cryer Team
The Cryer Team 303-638-3202 Tom
303-887-3917 Dee
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Market Snapshot
Market Movers
The World Trade Center Denver lands major co-developers for $300M project in RiNo. The new 350,000 square foot building will be located near the 38th and Blake RTD station in the River North Art District.

Cities and builders face ‘hornet’s nest’ to meet affordable housing needs. Using government subsidies, tax credits and zoning changes, city leaders are encouraging builders to incorporate affordable housing into mixed-use projects.

Bidding wars are turning quiet in metro Denver housing market. Multiple offers are harder to come by as inventory rises. While lower-priced properties in good shape can still garner strong interest, a declining share of homes are receiving multiple offers in some price points.

Testimonial
Dee & Tom were amazing. They thoroughly understood the market value of our home and did everything necessary to generate multiple, competitive offers for our home in a very short period of time. After contract, they did an excellent job of managing two very different personalities (my wife & I) through the entire process, over several hurdles and to the closing table on time. Thank you Dee & Tom!!
-David
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©2019 Kentwood Real Estate
If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. You are receiving this email as a current or former client of Kentwood Real Estate or one of its associates.
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#DenverMarketWatch @TheCryerTeam #MetaphorsandSimiles

What's Important Today?Let’s jump right into it!  This week’s numbers are crazy.  The Denver Residential Market as presented though our MLS System by me every Tuesday has a lot to tell us this week!

Follow my Denver Market Watch comments highlighted below:

New Listing (1349) Lower than last week, some might say stagnant!
Back On Market (274)
Price Increase (173)
Price Decrease (1582) Here’s where the market is showing its true colors!
Under Contract (1519) The Listing Curve is inverted!  More price decreases than new listings!
Withdrawn (211)
Leased (47)
Sold (1376) Not a bad number, but certainly not telling anything new here.
Expired (209)

Do you know the difference between a Metaphor and a Similes?  Let’s see if I can help.

“This market is like a pasture full of cattle lounging around in the thick grass.”  There’s nothing wrong here, but certainly nothing exciting either.

At the same time, “This market is an open book.”  It is not hiding a thing.  We know who’s coming and going.  We know how many own a new house, and we know how many still own the old house.

Which one is which?

Moving on, it is a great time to be careful.  Examine where you are in life.  Are the kids gone in a couple of years?  Are there a few more kids on the way?  What will your home be used for with your planned lifestyle?  So many questions…

Realtor Match Maker.jpgDee and I profess creating a plan.  Even if the plan has a few bumps in the road along the way, its like a road map to your future.  Please take advantage of our amazing service!

Please take a minute to review a few of our Recommendations.  We hope you come away with the confidence to give us a call.  Dee and Tom will be there for you every step of the way!  303-773-3399

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5 homes where it’s always vacation

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This is what summer dreams are made of.eo?_t=136d647b88304d6c827d39dbe797d50a&_m=eb2b45299c264452a750a7f10fd93f99&_e=98yrXR1jbjg6wMrLHwbAnFHSsS7vXYpGSwap1CM0dsqm-Kk0TDvaZ9wjPsQ3W7TwTV_tYhJHmX5IUsE3SatQ8b2np13EjNw6Mvq29gxdeMrwqcu6wFXZGLfrfQ_w3ooIWYa21aqm73HT-vy9PTdM-VTxBu4g6HVM2kwsoR5-X5lvn0TLv63MOa-Dt1vllQBO

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#DenverMarketWatch @MyTownCryer #Avalanche #AlpineLoop

This week I traveled to Ouray, Colorado. (Your-Ray for the uninitiated)  I have traveled around the famed Alpine Loop.  This part of Colorado captures one’s imagination of Men and Women overcoming incredible odds to carve out an existence under the harshest conditions.  Laboring to get men and gear up over 10-13,000 foot passes again and again and again had to have been epic!

Well, this week we do not have anything quite this tough to overcome in our residential market, but it is alway something to ponder…  Let’s take a look at Denver’s MLS  numbers.

We often talk about the “summer malaise” or “vacation season” or the end of the “first half summer slump”.  What every you want to call it, the numbers show it is here.

New Listing (1479) Listings keep coming, buyers keep your eye’s peeled!
Back On Market (291)
Price Increase (257)
Price Decrease (1624)  This number has moved to “Market Change” status!
Under Contract (1610)  This is a nice seasonal number, and better than last week.
Withdrawn (192)
Leased (55)
Sold (1499) This is a nice seasonal number, and better than last week.
Expired (259)

The reason the “Price Decrease” numbers are so alarming is simple.  To create all those under contract listings, price improvements had to be endorsed by the the sellers, and agents had to work to get those listings in line with the market place.

So, with another #avalanche of price reductions, we can look for an #avalanche of under contract properties next week, but this is typically not how a market improves.

Don’t get snowed under, give us a call, let’s create a plan and get you out of harm’s way….tc

Dee and Tom Cryer 303-773-3399  Thank You!

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Tips and tricks for a successful home sale

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You’ll be glad you followed these steps.eo?_t=136d647b88304d6c827d39dbe797d50a&_m=dde8942f820c4d2da8221bfb4bf588c7&_e=XGnDYde_jGuU1zMCqlJ1qlwgZk_rx1ujY2pqxmdkdkG1FkxE2Sm7CJu8aYyQkov0gJlKjCJJsO02z_2vyjQtUaWcn94g6f9zCi_I_-Tms5aOCeuPFC21fTQmUdgj_7j6N9QqJuGqfZ2HFARPLh76fxxVZjeQaIC0VNc-uik17eq3HegU_1jz2yR-x0xDkxyy

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