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Blog Double Lumber The price of lumber has doubled in three months.   Lumber is just one of several examples of skyrocketing materials costs which are impacting both home builders and home buyers.   The cost of lumber is now at a record-level $1000 per 1000 board feet.   These rising costs not only add to the sales […]
Blog Yes is the Answer It turns out that ‘yes’ is the answer to the most common questions we hear right now about the market… Do you think more properties will come on the market this Spring?  Yes, the normal pattern in our market is for new listings to be 40% to 70% higher in April versus January.  The peak month […]
Blog Latest Ranking CoreLogic produces one of the most respected and widely-used home price index reports in the United States. They track home price appreciation in the largest markets across the Country. Here are the highlights from their most recent report: Home prices are up 9.2% Nationally This is the highest increase since February, 2014 Denver ranks fourth […]
Blog Job Bounce “How could the real estate market be so strong in the middle of a pandemic?” That is a fair question and one we hear frequently from our clients. There are several reasons for this but two stand out. Interest rates Jobs Employment has bounced back much quicker than most people expected.  When COVID first showed […]
Blog Bubble Talk A hot topic of conversation these days is the prospect of another real estate bubble.  People wonder if prices can continue at their current pace and some fear a repeat of 2008.   Because we get asked about this topic so often from our clients, we thought it would make sense to ask our in-house […]
Blog Rate Heading   Rate Heading Where are interest rates headed? This question was one of many which were addressed during our annual Market Forecast yesterday. Our Chief Economist, Matthew Gardner, provided insight on rates, prices, inventory and many other fascinating topics. Matthew’s prediction is for rates to creep up to 3.07% by the end of 2021.  They […]
Blog Inverted Typically, in the Front Range Market, the number of new listings will exceed the number of closings on a monthly basis. Meaning, the amount of properties that hit the market in a given month will be higher than the amount of properties that sell in that month. It is normal to have the ‘inflow’ exceed the […]
Blog 14 Times                         For the 14th time this year, 30-year mortgage rates set a record and hit an all-time low. Based on data just released by Freddie Mac, rates are now at 2.71%.  Their weekly survey of the 30-year mortgage rate dates back to 1971. Just […]
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Blog Remodeling Impact Americans spend $400 billion per year remodeling their homes. So, which remodeling investment gives the best return when it comes to resale value? It should come as no surprise, especially leading up to Thanksgiving, that the best money to spend upgrading your home is in the kitchen. It’s the place where most homeowners spend most of their waking […]
Blog A Little Perspective Here’s a little perspective on the inventory of homes for sale in today’s market… First we’ll look at Metro Denver: The average number of residential listings for sale at this time of year is 15,577 The highest-ever for this time of year is 29,722 which occurred in 2006 The number of listings right now is […]
Blog The Votes Are In                                   Real estate buyers made their voices heard last month and made a clear choice for…  higher-end properties! One of the interesting dynamics of our current market is the significantly- increased activity in higher price ranges. The combination of high […]
Blog Brand New Market Report                             The latest quarterly report from our Chief Economist Matthew Gardner is now available.  Here is a quote from the report with his take on the Front Range economy: What a difference a quarter makes! Following the massive job losses Colorado experienced […]
Blog Supporting Our Communities                   Our heart goes out to all the people affected by the wildfires along the Front Range and in our mountain communities. We are also so appreciative of the brave men and women who are helping protect people and property from the fires. We want to help […]
Blog Million Plussing The luxury market is very active right now.  Buyers in the high-end are taking advantage of low interest rates and the equity they have built in their prior homes. Closings of million-plus single family homes are up significantly along the Front Range. When compared to this same time last year, sales of properties in this […]
Buyers & Sellers Re Bubble The activity in the Front Range market is causing us to hear the bubble question again. People are curious to know, based on recent growth in price appreciation, if we are in a housing bubble. This question seems to crop up when prices go up. While we do not believe that the current double-digit price […]
Blog 6 Million The National real estate market just hit a massive milestone.   Based on the numbers through August, we are now on pace to sell 6 million homes.  This is the highest pace we have seen in 14 years.   The 6 million threshold is a big deal in the real estate brokerage world.   Each […]
Blog Pendings are Popping Temperatures may be cooling off but the Front Range real estate market is not.   Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer.   Not this year.   The indicator we use to measure future closed sales is current pending sales.   Simply, we look at […]
Blog Forbearance Falls The number of loans in forbearance just fell to their lowest level since mid-April.   This is good news for the real estate market.   Less and less people are seeking payment relief on their mortgages.   The number of loans currently in forbearance stands at 7.16%.   This news coincides with the U.S. Unemployment […]
Blog New Home Surge Sales of new homes have jumped to their highest levels in 14 years.   The annualized rate of single-family new construction homes is now at 901,000 according to the new Census Bureau report.   This means that across the U.S., at the current pace of sales, there will be almost 1,000,000 new homes built and […]
Blog Price Report The Federal Housing Finance Authority just released their most recent quarterly report which tracks home price appreciation in the top 100 metropolitan areas in the U.S. plus appreciation in individual states.   Some significant findings from the report:   House prices have risen for 36 consecutive quarters, or since September 2011.   House prices rose […]
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