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July 2023
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September 2022
As many of you know the housing market flows closely along with our four seasons. In the summer months, the market is in high demand, homes spend less time on the market, and prices have an upward trend. While there are many that enjoy the perks of the summer months, the cooler months do not fall short when it comes to interest. The Fall marks the beginning of the market slowdown, which can be prime timing for new investment property acquisitions.
November 2022
December 2022
March 2023
It’s no surprise that DMAR’s February data showed new listings for detached and attached homes at the lowest levels since 2014. With the stability of homeownership in contrast to the current volatile market, it makes perfect sense why many potential home sellers are hesitant to jump into a changing environment.
December 2022
September 2022
“2024 began with optimism; mortgage interest rates would stabilize and start a slow decline, inflation would subside – allowing the Federal Reserve to reduce the federal funds rate, and buyers and sellers would re-enter the market. In reality, we saw much of the same as in 2023.
“Each January brings optimism and a renewed sense of purpose. We reflect on the previous year’s accomplishments and set new goals for the year ahead. At the beginning of the month, many buyers found themselves in the same place as they were this time last year – seeking to purchase a new home and hopeful for friendlier market conditions. While market conditions have not changed much, sentiment has. This is our market environment, and it’s likely here for the foreseeable future. In some ways, that brings stability – decisions become more complex when too many unknowns exist. We expect mortgage rates to remain steady, while price growth has stabilized. Inventory remains a key factor we are monitoring, as the balance between supply and demand is the most significant variable influencing the market right now.”
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Starting after November 18, 2023, Fannie Mae is introducing a transformative policy: a mere 5% down payment for owner-occupied multifamily homes. This shift from the previous 15-25% requirement opens doors for investors. It’s an unparalleled opportunity in the investment landscape.
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I hope you’re well! I’m popping into your inbox today to give you a heads-up on where the market is and to hopefully answer any questions you might have about whether or not it’s a good time for you to buy or sell. With a strong economy and excellent home values, Denver remains a great place to live.
Let me know if I can be of any help to you!
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“It was forecasted that homeowners would favor their low mortgage payments due to sub-four percent interest rates available during the pandemic years than enter the market to sell their homes. However, that doesn’t seem to be the case, as sellers have been not only stepping but jumping off the fence to enter the market for a variety of reasons.
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With every investment endeavor, there are risks and rewards for each type of rental. While short-term investments may bring a higher return, they can also be more volatile and require more maintenance. Long-term rentals offer more stability and potential for growth but often come with less of an immediate financial return.
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“July is a time of year when we traditionally see the Denver real estate market take a bit of a break. However, this year, the market has been as unpredictable this year as our weather. The adage in Denver is that if you don’t like the weather, wait 15 minutes. That advice rings true for many sellers, as patience might be the key to finding the right buyer. Amazing properties can languish on the market, while unremarkable homes sell immediately leaving many to question what is happening.
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“They say you can’t teach an old dog new tricks, but that certainly doesn’t apply to Denver Realtors. Our adaptability is truly impressive. As we enter our first full month with updated MLS rules, a result of the National Association of Realtors® settlement, we are knowledgeable and continue to help our clients achieve their goals. We navigated the early days of COVID-19 armed with face masks and disinfectant wipes along with new showing protocols. We will handle this change just as gracefully.
Denver has been ranked as the hottest labor market in the U.S., according to a recent study by ADP Research. The city stands out for its rapid pay growth, high wages, and strong hiring rates. Over the past year, median annual pay in Denver increased by 5.8%, with new hires earning a median starting wage of $19 per hour. The city’s monthly hiring rate is 4.5%, placing it among the top metro areas in the nation
“The October market data showcases a tale of two markets. In the first half of the month, buyers were lured back into the market by a brief break in interest rates. Leading up to the highly anticipated Fed rate cut, mortgage rates hit a 19-month low in September at 6.1 percent bolstering sales into October. However, with stronger-than-expected economic data throughout October, rates continued their upward climb, crossing the seven percent threshold by the end of the month. The swift rise in rates created a “pause” effect, amplifying the anticipated election-related paralysis among buyer in the later half of the month.”
“November brought a unique set of challenges. The first two weeks included the release of the employment data report, a presidential election, the Federal Reserve meeting and the consumer price index report. Each of these events introduced market volatility. While many consumers may not track these data points as closely as we do, they can still feel the uncertainty and fluctuations in consumer confidence.
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If you have a rental property, one of the best ways that you can ensure you get it rented to a new tenant in a timely manner is to make sure your online listing checks all the boxes.
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This new 10-acre development in the Glendale neighborhood of Denver, is poised to be the newest go-to place for fun in Denver. With a mix of dining, shopping, entertainment, and a hub of activities, it will provide something for all ages, day or night.
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If you’ve ever dreamed of owning a vacation retreat or a rental property, investing in a second home might be a great move. Beyond personal enjoyment, a second home can offer financial benefits such as appreciation, rental income, and tax advantages. Before starting the process, it’s important to understand your mortgage options and what this investment entails.
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Denver’s City Council recently approved the redevelopment of the 13-acre Cherry Creek West project, led by East West Partners. This ambitious project will transform a drab urban section into a dynamic mixed-use community with residential, commercial, and green spaces. The aim is to make Cherry Creek a prime destination for living, working, and recreation, aligning with Denver’s broader development goals.
READ MORE!
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Thinking of remodeling your home or an investment property? Not all upgrades are created equal when it comes to maximizing your return on investment. Below you’ll find what I hope to be some helpful insights into where you can best put your money to work. Whether you’re planning to sell soon or just want to add long-term value, knowing what will pay off is worth the read. 🛠️🏠
We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience.
Contact Leah Griggs if you’d like more information on finding your dream home or preparing to sell your home!
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