@MyTownCryer #DenverMarketWatch 4/30/2018

Posted on April 30, 2018 by Dee & Tom Cryer

Can you believe it?  One third of this year has passed us by.  That has not stopped this market from continuing is momentum!

IMG_0060One of the biggest weeks for new active listings is totally erased by one of biggest weeks for under contract listings – AGAIN!

In a conversation with a client this morning, we discussed how dynamic this market could still become.  So many people came to Colorado to launch their careers.  Now 10 years out, they are more mature and for some wealthier.  Ready to make a housing choice, ready to become a homeowner and ready to “become part of the community”, and as a result, Denver continues to look very strong into the future.

Colorado has just reached 5.6 million people.  Denver hangs somewhere around 3 million.  Atlanta on its own has over 5.8 million people.  For the time being, we continue to put up numbers week in and week out clearly showing we have a #housingshortage!

New Listing (1535)
Back On Market (243)
Price Increase (157)
Price Decrease (780)
Under Contract (1878)
Withdrawn (109)
Leased (43)
Sold (1371)
Expired (207)

As always, if you have questions, please do not hesitate to reach out and contact us.  We’re here for you every step of the way!

Posted in Denver Market Watch, Denver Residential Real Estate, Uncategorized | Leave a comment

#DenverMarketWatch 4/23/2018 #MondayMotivation What’s all this talk about supply? #HousingShortage

Posted on April 23, 2018 by Dee & Tom Cryer

dollar-currency-money-us-dollar-47344.jpegWe’ve officially moved into a FOMO market!  There, I said it.  Fear of Missing Out has become rampant in Denver.  From Erie to Lone Tree, from Golden to Deer Trail, from RINO to SODO, sellers are smiling and buyers are FRUSTRATED.  This frustration has lead to all kinds of consequences.

Buyers missing out have signed new leases, decided to stay put and removed themselves from the market.  Other buyers have rallied family members, crowd funding and wedding registrations for down payment money and have jumped in with both feet.

But not so quickly!  Sellers have their own set of rules.  They are afraid of not being able to find a replacement in a reasonable time frame, moving twice and losing money.  PCO’s have become standard operating procedure.  (Post Closing Occupancy Agreements)  Denver is a market rife with anxiety on both sides of the transaction.

And just when you thought sellers were going to rush to the market and participate, Not So Fast!  Sellers are now looking at their current mortgage interest rate.  With rates approaching 5%, sellers are now saying, “Why would I give up my 3.5% interest rate?”

WOW, it’s complicated out there!  That’s why you need a professional by your side every step of the way.

New Listing (1615)  This is a strong number, but completely erased by the UCs below.
Back On Market (233)
Price Increase (135)
Price Decrease (708)
Under Contract (1851)  This is a very strong number exceeding new listings – absorbing recent supply upticks.
Withdrawn (164)
Leased (39)
Sold (1266)  This number is very close to the trend being set so far this spring.
Expired (183)

As you start to wander through this craziness, let us lead the way for you.  Let’s make sure you make well thought out decisions.  We’d be honored to have the opportunity to assist with your real estate needs and wants.

#MondayMotivation:  “The road that tells you the most about yourself is the one you’ve never been down.”

 

Posted in Denver Market Watch, Denver Real Estate, Denver Transferees, Uncategorized | Leave a comment

#OffMarketListings #ComingSoon #DenverRealEstate #GreenwoodVillage

Posted on April 17, 2018 by Dee & Tom Cryer

Every now and again, we have a listing or two that for one reason or another is not Active on the market.  This could be the result of the owner being not ready to show the property, repairs in progress, staging and incomplete market preparation.  Owners instruct us to start the “Buzz”, but they are not quite ready for the “Bite” of potential buyers stampeding their home.

Currently, we have two such properties.

  1.  7150 E. Berry Avenue Greenwood Village, CO 80111  As you can see, this is a large site in excess of 2 acres with front range views, and believe it or not, it is walking distance to the Orchard Light Rails Station.  Please contact us for a schedule on when showings will start.  It is listed at $1,600,000.IMG_0127
  2. Prairie Sky Place Lone Tree CO 80124  This lovely Berkeley Built Home in Lone Tree has a professionally finished basement, views onto The Bluffs Open Space and easy access to the Lone Tree Rec. Center.  At less than $800,000, when we have this active, it will go quickly! IMG_0128
Posted in Denver Real Estate, Denver Residential Real Estate, Greenwood Village, Lone Tree, Luxury Homes | Leave a comment

#DenverMarketWatch 4/16/2018 #SpringTimeintheRockies

Posted on April 16, 2018 by Dee & Tom Cryer

imageGood Morning Everyone, this is what we’ve all been waiting for.  The spring selling season is upon us, and this market is bustin’ out!

With 1,554 New Listings and over 1,900 Under Contract Listings, we continue to see tight inventory and multiple offers.  The surplus of new listings from last week of 1,720 was gobbled up this week with 300 more under contract than last week.

New Listing (1554)
Back On Market (217)
Price Increase (148)
Price Decrease (707)
Under Contract (1923)  This is a really big number!
Withdrawn (135)
Leased (30)
Sold (1265)
Expired (161)

Let’s not underestimate the power in the fabric of this Denver Market.  The momentum in place here is really quite exciting.  No matter what we feed this market, it continues to want more.  This market is insatiable!  

Here’s the good news.  As we move further into the spring selling season, we should see more new listings.  We can’t wait to see how this unfolds, but we will be here each week keeping you up to date.  The excitement builds!

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#BasementFinish #Centennial

Posted on April 10, 2018 by Dee & Tom Cryer

Centennial hosts free Basement Finish Workshop August 19!

All Centennial residents are invited to a FREE workshop to learn what it takes to tackle a basement finish project. This workshop is scheduled for Saturday, August 19 from 9 – 11 a.m. at the Centennial Civic Center located at 13133 E. Arapahoe Rd. Participants will learn about the permit

ting process, building code requirements and common pitfalls during the basement refinishing process. This workshop is hosted by the City of Centennial’s Building Division. For more information, contact the Centennial Building Division at 303.754.3312 or Shirley Berg at 303.263.7892.

Posted in Basement Finish Workshop, Uncategorized | Leave a comment

#DenverMarketWatch 4/9/2018 #WOW! Do we have supply? #SupplySide

Posted on April 9, 2018 by Dee & Tom Cryer

As we move into week two of Q2 2018, there is possibly a trend starting that will be of great assisIMG_0060tance.  What’s that you ask?  Well, the answer is supply.  This week over last week, supply jumped by 700 new listings!

We have not observed one week this year where New Listings has exceeded Under Contract Listings, but this week we did.

What does this mean?  This means if we can keep this new pace of supply up over the long term, we could move into a more balanced market where buyers have a chance for a second showing before “All offers are due by…”.

New Listing (1720) This is a HUGE number!
Back On Market (217)
Price Increase (305)
Price Decrease (663)
Under Contract (1633) Chasing right behind new listings is the omnipresent demand!
Withdrawn (143)
Leased (31)
Sold (1340) Week after week, this continues to be very solid.  Not record pace, but close!
Expired (187)

With all this said and sprayed, the Denver Market remains healthy, it is trending upward in number of sales and price, but now for the first time in recent history, we may have supply which could ultimately grow this market even more…tc

Posted in Denver, Denver Housing, Denver Market Watch, Real Estate Residential Denver, Uncategorized | Leave a comment

#DenverMarketWatch 4/2/2018 Q2 2018 Starts Now!

Posted on April 2, 2018 by Dee & Tom Cryer

IMG_3698The market is complicated.  Buy – Don’t Buy.  Rent – Don’t Rent.  Sell – Don’t Sell.  You take a chance on that Dream Job, Dream House or You Name it!  No one can predict the future, but we can gather the facts, we can analyze them and we can charge ahead.

As Eleanor Roosevelt once said;  “The future belongs to those who believe in the beauty of their dreams.”  If you have a dream live it, own it and make it happen…tc 2018

All humor aside, this morning our dreams are focused on the beginning of the second quarter of 2018.  As we begin, guess what?  We have had another slump in the number of new listings this week.  Was it Easter, was it Spring Break or was it just the market trying to tell us something?  The MLS data below is our window to the future.

New Listing (1037)  This is down over 300 from last week!
Back On Market (184)
Price Increase (90)
Price Decrease (497)  This is very telling!
Under Contract (1611)  This is about equal to last week.  Realtors working through the holiday!  
Withdrawn (97)
Leased (34)
Sold (1460)  This is down 300 from last week.
Expired (294)

Long story short, we have less than one months supply of resale inventory.

This week, I’m going to take you down a road less traveled.  Price Decreases have risen significantly over the last few weeks (As you can see above), and they are becoming a leading indicator.  Have we reached to far with our List Prices?  Have we tapped into affordability too much?  Time will tell, but for now, let’s keep an eye on this one.  What’s your opinion?

Let’s discuss what’s ahead of us.  Interest Rates will become a more pressing issue if they continue to rise.  Household Income is expanding, but will it be enough to keep the housing price momentum churning upward?  As they say on #MotleyFool, are you a Buy, Sell or Hold?

I believe homeownership is about achieving a goal, realizing a dream and becoming part of a community that is bigger than yourself.  Those factors alone make homeownership more than an investment, it is a way of life.  If you want to live the dream, let’s talk.  It’s a good life!

 

Posted in Castle Pines North, CASTLE ROCK, Centennial, Chatfield State Park Map & Brochure, Cherry Creek State Park, Cherry Hills Village, Choosing a Realtor, Denver Housing, Denver Market Watch, Uncategorized | Leave a comment

Happy Easter!

Posted on March 30, 2018 by Dee & Tom Cryer

Posted in Uncategorized | Leave a comment

My Town Cryer Denver Market Watch | March 2018

Posted on March 30, 2018 by Dee & Tom Cryer
Your monthly source for the latest Denver Area real estate news.

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March 2018
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Kentwood Real Estate
February 2018 Housing Market Report
Denver, the most expensive housing market between the two coasts, hit an important milestone in February. For the first time ever, the average price of a home topped $500,000. Read More >>
Simple Ways You Can Go Green
Living a greener, more sustainable life is becoming increasingly important in our day-to-day lives. Here are simple ways you can go green to contribute to a healthy planet for years to come. Read More >>
10 Things to Do in Denver This April
Spring in Denver is always buzzing with fun activities! From baseball to brew fests, Denver’s got everything you could hope for. Check out the best events happening around town that you won’t want to miss out on. Read More >>
Featured Properties
Harvard Gulch Habitat!
2535 South Washington Street, Denver CO
Amazing Location!!! See Harvard Gulch Park and Golf Course from your front yard! A wonderful opportunity awaits you to live, work, and play close to everything. Golf, Park, Trail System, Employment, Entertainment, Shopping, RTD and more await right out your front door, all while living on a quiet non-through street where everyone knows your name! This updated cottage is a delight to behold. Everything you need (including an attached garage), and nothing that you don’t! Lots of natural …
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The Cryer Team 303-638-3202 Tom
303-887-3917 Dee
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Market Snapshot
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Market Movers
Is the Denver-housing market approaching a tipping point? A national study says buyers need a salary of $80,000 to buy a typical home in the Denver area.

Denver isn’t considered a leading contender to land the second headquarters for Amazon. But a study by Zillow ranks Denver in the top 5 candidates.

If you are getting a new mortgage your phone may ring and out-of-the-blue you will get what seems to be a better deal. But be careful. Often these so-called “trigger leads” are scams.
Testimonial
Dee and Tom were amazing to work with. They represent their clients so well and truly work for them. We were relocating to Denver from out of state and having them as partners was truly a benefit.
-Caleb K.
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#DENVERMARKETWATCH 3/26/2018 Q1 End Report

Posted on March 26, 2018 by Dee & Tom Cryer

IMG_0045In any market, perspective is important.  What was, What is and What will be.  That’s what we try to do here most weeks.  Help you keep perspective on the Denver Residential Market.

What you will see below is directly from our Broker Side Interface with the REColorado.com.

New Listing (1354) The first week of the year, this number was 826.
Back On Market (229)
Price Increase (139)
Price Decrease (601)
Under Contract (1692) The first week of the year, this number was 822.
Withdrawn (110)
Leased (27)
Sold (1118) The first week of the year, this number was 858.
Expired (158)

As you can see, we have grown into a full fledged spring marketing season.  With weekly Under Contract Listings almost doubling, it is officially “selling season”.  We are observing multiple offers at almost all price levels up to and including $1M+/-.

We the actual data is reconciled at the end of each month, our number of active listings and number of closings often bi-sect when portrayed graphically.  This means those “Coming Soon” signs are a real and functioning part of our market.  It is almost certain as we move into spring buyers will continue to compete for fresh listings and the bidding wars will be vicious.  Buyers feelings will be hurt.  Sellers will be happy.  One thing you can do, is follow this blog and keep up to date!

This weeks image at the top of this piece is from The Paint Mine Interpretive Park outside of Calhan, CO.  It is just an hour or so SE of Denver on the “backroad” to Limon.  It is worth the drive as you can see, and the trails are very much improved and apparently maintained by some of America’s Best Eagle Scouts!  Remember to take time out and explore Colorful Colorado...

Posted in CASTLE ROCK, Centennial, Cherry Creek State Park, Colorado, Colorado State Parks, Colorado Travel, Colorado Travel Guide, Denver Market Watch, MyTownCryer, Paint Mine Interpretive Park Calhan, CO, Uncategorized | Leave a comment