There 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Withdrawn (187)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.
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
Now 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?
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. 
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. 
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. 
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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!
Dee 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!
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!
Don’t get snowed under, give us a call, let’s create a plan and get you out of harm’s way….tc
This week, Dee Cryer, Caroline Cryer and Andrew Cryer participated in the @Triple_Bypass_. This was the 6th year in a row for Dee and Caroline. This is not an event to take lightly. Long, high altitude mountain passes, crazy weather, multitudes of other participants and needless to say the training that comes along with the plan…
“Crossing the finish line with anything as strenuous as the “Triple” without a plan, is a plan for failure. Not unlike the long and strenuous up hill grind of buying a home? Maybe, maybe not. Dee and I like to think we take the stress out of the home buying process. Even still, Location, price range and condition play a huge part in just finding a home. In the best of times, it is still be a harrowing process.
If you are ready to make a plan, learn about Denver and find the right home, please don’t hesitate and give us a call. Don’t ride alone! Dee and Tom Cryer 303-773-3399. Thank you!
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