Thursday, January 10, 2019

Colorado Gains 80,000 Residents in 2018; Growth Rate 7th in Nation



The U.S. Census Bureau says Colorado grew by nearly 80,000 people between mid-2017 and mid-2018.
The Denver Post reported Monday that Colorado's population grew by 1.4 percent in the 12 months ended July 1.
The Census Bureau says that's the seventh-fastest growth rate in the country. Nevada and Idaho were tied for first with a 2.1 percent growth rate.
The U.S. population grew by 0.6 percent during the period.
Colorado's population is now estimated at nearly 5.7 million, about 700,000 higher than in 2010. Colorado's growth rate was 13.2 percent in those eight years, the fourth-highest in the nation.
Some people still ask why Colorado is so popular? Here are just a few reasons: Over 300 days of sun, the 4th best winter (meaning least miserable) in the U.S., ski resorts galore, a booming economy, easy business laws for entrepreneurs, diverse work industry, hot real estate market, gorgeous mountain views, tons of outdoor activities, very family friendly, the coolest suburb communities...and the coolest people. 

Thursday, December 20, 2018

Hot or Not?


Here's Your Market Pulse
from Denver Metro Association of Realtors

While the headlines are correct saying the market is slowing and housing is softening.. I have a better headline, one that in the context of the DMAR Market Trends Data released December 5th is still correct.  That headline is WIN-WIN. This is a great market, in fact a winning market for both sellers and buyers.   

Sellers have been blessed with strong appreciation since 2012.  Some years double digit appreciation.  So if you are considering selling that home and moving into the home of your dreams or cashing out and optimizing your equity, now is the time.  We are starting to see a seasonal slowdown, a move towards a balanced market.

So as the market shifts (month over month median home prices slowed slightly by 1.25%, average home prices down by 1.64%) now is a great time to sell and take advantage of the equity in your home.  Year to date 2018 we have gained 8.68% on average; this is incredible wealth gain for any investment.

Sellers: there are still buyers out there!  In fact, last month 3,964 homes went under contract compared to 3,909 new homes listed.

Buyers: As a perspective, the current Freddie Mac average rate is 4.81.  One year ago, it was .91% lower.  That change in rates costs an average borrower 11% more every month in their monthly payment.  Freddie Mac is estimating rates will go up to 5.5% next year.  This in turn will cost a borrower 8% more every month.With future appreciation opportunities at today’s interest rates and prices, buyers have the opportunity to gain incredible wealth.  

This is not the time to sit on the sidelines; but jump in as buyer, seller, or both as we edge into a balanced market.


Friday, December 14, 2018

Need help figuring out where to take friends and family this holiday season?


Check out these great
DECEMBER WINTER EVENTS! 

WHEN: Nov. 16–Dec. 23, 2018
WHERE: Skyline Park
The Christkindl Market includes vendors from Germany and other countries, as well as local artisans, offering high-quality, handcrafted gifts such as traditional hand-carved wooden figurines, handmade candles and ornaments. Traditional German food will tempt your taste buds. Sip on warm Gl├╝hwein (hot spiced wine) as you listen to traditional Christmas carols and live German music. Entry is free and the entire family is invited to enjoy this great tradition! 

 
WHEN: Nov. 20, 2018–Feb. 3, 2019
WHERE: Corner of 16th and Arapahoe
Take a spin on the ice — for free! Grab your family and friends and head to 16th and Arapahoe in downtown Denver to the Downtown Denver Rink at Skyline Park in Downtown Denver! Skate rentals are $6-$8, or bring your own pair and skate for free. Free days for kids will take place throughout the season. Look for regularly scheduled entertainment and activities each week, including: Friday night DJs; Saturday morning skating lessons; Saturday night concerts; and Sunday afternoon family entertainment.

 
WHEN: Nov. 23–Dec. 23, 2018
WHERE
Chatfield Farms Botanic Gardens
Explore Chatfield Farms as it is transformed into a magical village. Santa's Village is a family-friendly holiday event including hayrides, holiday gifts, Santa’s Workshop and so much more.

 
WHEN: Dec. 7–9, 14–24 and 26–31, 2018
WHERE: Hudson Gardens & Events Center
Bundle up for a visit with Santa at Hudson Gardens in Littleton. After sharing your list with Ol' Saint Nick, sip hot chocolate as you stroll the outdoor paths lined with trees decked with more than a million twinkling lights.

 
WHEN: Nov. 23, 2018–Jan. 1, 2019 (includes Dec. 24, 25 and 31)
WHERE: Denver Botanic Gardens

Embrace the holidays with thousands of colorful lights draped in elegant designs at Blossoms of Light. The 2018 event will be brighter and bigger than ever before, with sound-reactive LED lights and carolers on select evenings. Warm drinks and tasty treats and seasonal entertainment will be available, and thousands of lights in the gardens' amphitheater are synchronized to your favorite holiday tunes.

 
WHEN: Nov. 23, 2018–Jan. 6, 2019
WHERE
Denver International Airport
Got a flight to catch? Head to Denver International Airport a little early and enjoy a free spin around the airport's ice skating rink!

 
WHEN: Nov. 30, 2018–Jan. 6, 2019
WHERE: Denver Zoo

Zoo Lights will span 70 acres of Denver Zoo's campus with nightly entertainment, animal encounters, Santa meet-and-greets and, of course, illuminated animal sculptures that swing through trees, jump across lawns, hide in bushes and appear in places where they’re least expected.

 
WHEN: Dec. 15, 2018
WHERE: City Park
Scramble along with Ebenezer Scrooge at this professionally timed race, which benefits Denver Children's Home. There's even a Scrooge costume contest to crown the best worst humbug of them all.


Did you know that the Denver Christkindl Market has been going strong for 14 years?  It is definitely a staple tradition that should not be missed.  I always feature it on my seasonal magnet mailer that goes out to past (and future!) clients. 


Fun Fact: German Christmas markets date back to the 14th century. Originally, the fairs provided only food and practical supplies for the cold winter season, but soon the markets became a beloved holiday tradition and a great way to get into the holiday spirit. 



If you're a Colorado resident and don't currently get my magnets, shoot me a quick email with your address and I will put you on the list!

Thursday, December 13, 2018

So Denver got rejected as Amazon's Headquarters.... now what?


Denver, and other Amazon HQ2 rejects, could see even higher home value growth in the next year, experts says

Denver didn't get Amazon's HQ2, but what it may end up getting is higher-than-normal home value growth.

In the next year, a handful of metro areas that competed for Amazon's second headquarters are expected to outperform the national rate of home value appreciation, according to 2018 Q4 Zillow Home Price Expectations Survey.

Denver, Washington, D.C., Atlanta and Dallas were named as the four markets most likely to see this, according to the survey. All four were among the 20 finalists for the Amazon (Nasdaq: AMZN) HQ2.

"The quarterly survey, sponsored by Zillow and conducted by Pulsenomics LLC, asked more than 100 real estate economists and investment experts for their predictions about the U.S. housing market, including which three markets they believe are most likely to outperform the U.S., and which three are most likely to underperform in 2019," a release from Zillow Tuesday said.

Denver got the second-most votes for over performance in the survey, second only to Washington, D.C., a winner of HQ2. In addition, 
VEROS Real Estate Solutions is predicting that metro Denver home prices will rise by 9.5% from Fall to September 2019.

Nationwide, home values have increased 7.7 percent through the first ten months of 2018, while Denver has only seen a 6.2 percent increase, according to Zillow. Boston, a finalist for HQ2 and Washington, D.C., also lagged behind the national average rate so far this year, according to Zillow.

"Many of the candidate cities that were not ultimately selected could see spillover gains in 2019," said Zillow senior economist Aaron Terrazas.

Commercial development opportunities that had been proposed as sites for Denver's bid to get Amazon's HQ2 also remain on the market in many of Denver's suburbs such as Sterling Ranch, Commerce City, Lone Tree, Thornton and Louisville.
-Denver Business Journal

Wednesday, November 7, 2018

Winter is Coming! Are you Winterizing?


Temps are about to drop again on Sunday.  I ran across this winter prep list that might be helpful.  I always try to equip my buyers with inside tips and tricks not only for the home buying process, but also for those first years as homeowners.  Home upkeep can bring some hard (and expensive!) lessons, so being prepared and educated is always a good thing.  
This list is a good start, but I see a few things missing...... for example, running out the gas in your lawnmower.  Any others that you guys think this list missed?  Any (God forbid) horror stories!??

Happy Winterizing!



Tuesday, August 7, 2018

5280 Neighborhood Guide: East Colfax community promises eclectic eats, retreats, and history.




Sometimes change seems to happen all around you, but not to you. Such is the case in Denver’s East Colfax neighborhood, whose immediate neighbors—Lowry and Stapleton—have both recently received residential and commercial makeovers. Soon, though, the 684-acre enclave of East Colfax (the local neighborhood association embraced the name, instead of East Montclair, this past August) is poised for a transformation.
Last fall, the city of Denver purchased the defunct PT’s strip club at East Colfax Avenue and Valentia Street with hopes of turning it into a community gathering spot or an affordable housing development. And in November, Denverites approved a general obligation bond allotting $55 million for the East Colfax Bus Rapid Transit project, which will run along East Colfax Avenue between the Auraria Campus and the University of Colorado Anschutz Medical Campus. But the neighborhood already boasts a bevy of gems, including diverse eateries, inviting coffeeshops, and an attraction that no amount of development can alter: unique Colorado history.

Eat

During the past 20 years, East Colfax has become home to refugees from East African and Southeast Asian countries such as Somalia, Bhutan, and Myanmar. So in addition to long-standing Latin American restaurants like Tacos Acapulco (try the pupusas) and 7 Leguas Mexican Grill (get the tacos al pastor), flavor seekers can also enjoy authentic Ethiopian-style lentils and injera (flatbread) at Lucy Ethiopian Restaurant and Bar and pick up specialty groceries like jasmine tea and Thai durian crackers at Family Asia Market. For a caffeine fix, there’s Pablo’s Coffee. 
Image result for pablos coffee denver

Play

East Colfax might not have a big, shiny community hangout like Stapleton’s Stanley Marketplace (yet), but it does offer a distinct community vibe all its own. The best place to find it? Quince Essential Coffee House, where java junkies can pair beans from Kaladi Coffee Roasters (Denver) and Jubilee Roasting Co. (Aurora) with board games and open mic nights. For more structured socializing, head next door to the Sprightly Escapes escape room: Your team of friends or colleagues will work together to break out of an old motel (fitting) or save the dinosaurs from extinction.

Explore

Between the decommissioned Air Force base in Lowry and the string of neon-signed hotels along the neighborhood’s main drag, East Colfax offers a one-of-a-kind glimpse into east Denver’s past and present. For a complete picture, consider a bike tour of the area, starting with the neighborhood’s northern border on Montview Boulevard. Head south on Ulster Street where, from the 1920s to the 1950s, the houses at 1740 and 1760 served as part of the Greeters of America Home—a guesthouse and gathering place for members of the hospitality industry. Continue south toward East Colfax Avenue along either Valentia or Trenton streets—welcoming residential roads dotted with classic Denver bungalows—and reward yourself with a cheap beer at the Hangar Bar. Opened by two Denver women in 1938, this time-honored dive was a popular hangout for Lowry pilots and military personnel during WWII.
Image result for hangar bar east colfax
-Jeff Waraniak, 5280 Magazine  


Thursday, May 31, 2018

Denver Ranked Top 20 'Future-Proof' Markets in the World


According to HousingWire, recent research suggests that some of America’s most popular cities, including our own Denver, CO, are fully prepared to tackle long-term socio-economic and commercial real estate momentum, states Jones Lang LaSalle, the popular financial and professional services firm. 

JLL is the creator of the City Momentum Index, which covers 131 global major established and emerging markets and tracks factors that determine which cities have the strongest short-term socio-economic and commercial real estate momentum, and those that are more equipped for long-term success.


Short-term momentum is determined by both socio-economic and commercial real estate momentum. Economic output, population, investment transactions, transparency, construction, consumerism are factors in JLL's analysis.
According to JLL, future-proofed cities have higher education infrastructures, innovation capability, better environment quality, more technology firms and international patent applications.
The firm's analysis ranked the top 30 most future-proofed markets in the world, as well as those with short-term momentum. While Seattle was the only American city to appear on the short-term list, 12 American cities were among the top 30 most future-proofed markets globally.
San Francisco topped the list as the no. 1 city in the world to have the most sustainable long-term market with nearby Silicon Valley ranking second. Other major U.S. cities claiming spots on the list include New York, Boston, Los Angeles, San Diego, Chicago, Seattle, Austin, Denver(#10 in U.S. and #20 in the world), Washington D.C. and Philadelphia made an appearance on the list, which you can check out below: 

Tuesday, May 29, 2018

Denver Homes Sold Faster in April than anywhere in the U.S.


Homes in Denver sold faster in April than anywhere else in the country.

According to a new report by online real estate company Redfin, Denver was the fastest market in the country last month, with half of all homes pending sale in just six days. That was faster than Seattle (seven days), and San Jose, Grand Rapids, Michigan, and Tacoma, Washington (nine days).

Over the past year, Redfin estimated that the median home sale price has risen 9.2 percent in Denver to $415,000.

That's higher than the rest of the country, which saw the national median home sale price increasing 7.6 percent in April from a year ago, to a median of $302,200, according to Redfin's report released Thursday.

And Denver's near the top nationally in some other housing categories as well.
The metro areas with the lowest days on market were San Francisco at 19, Seattle at 21, and Denver at 23, according to Re/Max's National Housing Report, released Wednesday.

Denver is tied for markets with the lowest Months Supply of Inventory with Boise, Idaho, San Francisco, and Seattle, at 1.0. A six-months supply historically indicates a market that's balanced equally between buyers and sellers, according to the Re/Max report.

With the extremely low supply, sellers are still having a hay-day in the Denver Metro area.

-Denver Business Journal

Monday, February 27, 2017

Check out how your neighborhood appreciated!

This awesome price change map from First Alliance Title measures how much each neighborhood appreciated or depreciated in the last 12 months compared to the previous 12 months, along with average home sales prices and days on market for each neighborhood in Denver. I also have other areas. Check it out!


Wednesday, February 22, 2017

Denver Ranked #2 BEST City to Live


For the 2nd year in a row Denver was named either #1 or #2 BEST city to live in the country. This year it was #2 - perhaps it would have been a bit embarrassing should it have gotten #1 both years in a row!

The key factors were demanding for any city:
1) Value of homes.
2) Quality of life.
3) Job market health.
4) Desire to live here.
5) Number of people moving here.


Check out what US News & World Report had to say: 

"Founded in the mid-1800s as a mining hub during the gold rush, Denver has come a long way since its Wild West days. Over time, its residents have evolved from gun-slinging gamblers into an easygoing crowd of ambitious, progressive-minded fitness fanatics and nature lovers who are eager to push the envelope on everything from civil rights to drug laws. Nicknamed the Mile High City for its 5,280-foot elevation (although officially reported as 5,279 feet), Denver's location at the base of the Rocky Mountains provides a gateway to a slew of outdoor pursuits, although it is probably best known for its devout ski and snowboard enthusiasts.
To clarify a common misconception, Denver is not a mountain town. It actually takes at least an hour to drive to the Rockies. But there are some great places for recreating within a 30-minute drive of downtown, such as Red Rocks Park and Cherry Creek State Park.  
Some might say that Denver is experiencing a gold rush of a different color: green. After Colorado residents voted to legalize recreational marijuana in 2012, Denver has seen a surge in cannabis-related commerce, from dispensaries to magazines to high-tech paraphernalia like vaporizers, rolling papers, lotions and storage containers – and the industry is just gaining speed."

Tuesday, November 29, 2016

Zillow's 2017 Housing Market Predictions


After Zillow surveyed more than 100 economic and housing experts, the consensus is that home prices nationally will rise 3.6% in 2017. Here are some other predictions from Zillow:
  • More Millennials will buy homes next year than this year which is a pretty easy prediction to make as Millennials get older each year, more of them will be able to buy a home and more of them will choose to buy a home.
  • President-Elect Trump's potential immigration policies could exacerbate the shortage of construction workers which would cause labor costs to rise, longer construction time periods, and higher home prices. (This may be a good opportunity for blue-collar jobs to come back into the arena as great opportunity, vs. the 4 year degree which comes with alot of debt and a lot of competition). 
  • As Millennials buy homes it's expected they will purchase homes further out in the suburbs or exurbs where homes are more affordable. This will result in the percentage of people driving to work to rise for the first time in a decade. This is happening despite the fact that major cities are developing their urban cores or centers with denser development and smaller homes that are more affordable. But, they are not affordable enough. Plus, one thing not being addressed is quality schools in the urban centers. Most Millennials grew up in the burbs in big homes with good schools; so Millennials who are parents already are buying homes and moving back "home" to the burbs.

Thursday, November 3, 2016

Mortgage Rates Going Back to 1900: We are at lowest EVER

I love big picture charts that cover more time than just a couple years. This chart shows you mortgage interest rates from the year 1900. We are essentially at the lowest ever today in 2016, at 3.5%.

Hard to believe just in 2008 rates were 6.5% - that's a $500 DIFFERENCE IN MONTHLY PAYMENT!

Imagine the late 70's and early 80's, at 19%! Buying an $89,000 home back then would be the same monthly payment as buying a $212,000 today! If you are looking to buy now is the time. Don't cry to me when rates go up in the next few years!


Wednesday, November 2, 2016

Comparing Mortgage Payments Over Decades: 1985 vs. 2000 vs. 2016

Many people think they shouldn't buy right now because prices have gone up in the last 5 years, and skyrocketed since the 1980's. However, what most people forget is how much interest rates significantly affect a monthly mortgage payment. Check out this awesome infographic: