RE/MAX Ranked as leading real estate franchise of 2018

We don’t often blow our own horn here, but some things are worth celebrating— and that includes our recent designation as the leading real estate franchise of 2018, by Entrepreneur magazine.

More than 1,000 franchisors applied to be included in Entrepreneur’s annual Franchise 500 survey. Franchisees were evaluated on unit growth, financial strength, stability and brand power during 2018. This marks the seventh consecutive year—and the 16th time in 20 years—that we’ve ranked No. 1in the real estate category.

“RE/MAX leads its competitors year after year in the Franchise 500,” said RE/MAX CEO Adam Contos. “We truly are the No. 1 name in real estate, and industry professionals want to experience the competitive advantages of our brand power, progressive on-demand training, technology and unmatched global footprint.”

REMAX now includes 120,000 sales associates in more than 100 countries and territories—not bad for a company that began with a single office in Denver in 1973!

Just another reason why I, Joseph Newman – The Colorado Broker, am proud to hang my license with RE/MAX

RE/MAX of Cherry Creek

 

Goodbye Elitch Gardens, we will miss you

New River Mile development planned on Elitch Gardens site

So long, Ferris wheel. Hello River Mile.

With property values skyrocketing in central Denver, the owner of Elitch Gardens amusement park has announced that its thrill rides will eventually give way to high rises and associated amenities in a new neighborhood dubbed River Mile.

Denver-based Revesco Properties owns the 62-acre site where Elitch’s Ferris wheel has enhanced the Denver skyline for 24 years. Starting as soon as 2020, according to the Denver Business Journal, groundbreaking could occur for the new development.

The first phase of the project, notes the Journal, will be to transform a surface parking lot at the Pepsi Center into a centralized parking garage. Revesco aims to offer 8,000 residential units “and will feature some of the tallest buildings along the South Platte River,” reports the Denver Post. Of these units, 15% will be designated as affordable housing.

The area will also feature parks and open space, as well as office space and retail.

“[The plan] truly encapsulates all we’ve talked about with smart growth,” Revesco president and CEO Rhys Duggan told the Journal, noting that there will be maximum limits on automobile parking to discourage traffic.

The construction of River Mile will occur in phases and may take between 20 and 25 years to complete.

Meanwhile, Ferris wheel fans can rest easy. Duggan told Denver City Council members that the park’s removal is “many years” away.

 

REMAX of Cherry Creek

Photo Copyright: arinahabich / 123rf.com

Study shows use of real estate agents highest in 18 years

Study shows the use of real estate agents highest in 18 years

Despite the proliferation of apps and websites designed to help people buy and homes on their own, most people continue to choose traditional, in-person brokers. In fact, a new study shows that use of real estate agents is at its highest level since the study began in 2001.

A recent Harris Insights & Analytics’ housing consumer study polled 1,000 people who had either bought or sold a home in the last six months of 2018, according to Housingwire.com.  Of those, 90% said that they used a real estate agent to buy or sell their homes. The figure represents a 5% increase from the last study, which was conducted in 2014 and a 9% increase from the first study in 2001.

“And despite the fears that Millennials are replacing real estate agents with technology, the study found that this was not the case…” notes Housingwire. Among those ages 18 to 24, 91% reported using a real estate agent.

Gen Xers—those between 35 and 44 years old—were found to use brokers at an even higher rate of 94%

Interestingly, the study reports that more education corresponds to greater usage of agents. Of those with a college education, 94% used a broker to buy or sell their homes, vs. 83% of those with only a high school diploma. Meanwhile, income was also a predictor; 98% of survey participants earning between $75,000 and $100,000 used a broker, vs. 79% of those who made $50,000 or less a year.

If you are in the market for a home and are interested in learning more about my process please feel free to visit TheColoradoBroker.com. I would love to meet you over coffee to discuss your wants and needs!

-Joseph Newman, The Colorado Broker

Photo by José Alejandro Cuffia on Unsplash

Denver International Airport earns accolades

Denver International Airport earns accolades

When it was first built, Denver International Airport (DIA) suffered so many operating glitches that it became the favorite go-to joke for late-night TV hosts.

DIA
DIA

Now the joke is on them: The Wall Street Journal recently named DIA the best “big airport” in the country. 

“Drawing from a survey of 4,800 readers and weighing 15 airport measures, including security wait times, average fares and arrival and departure time reliability, the paper crowned the ‘Mile-High Miracle’ best in its class for air travel,” notes the Denver Post.

To determine an airport’s convenience factor, the Journal studied Wi-Fi speeds, Yelp ratings for airport restaurants, walking distances and the number of destinations patrons can reach on a direct flight. Denver ranked high in these measures, as well as in the price of its airfares. The study found that due to more competition among airlines at DIA, flights are cheaper, with an average fare of $299.

Orlando International Airport finished second in the study, while Phoenix’s Sky Harbor International Airport came in third.

DIA also recently earned the distinction of being the fastest-growing major airport in the country, according to the Denver Business Journal.

In 2018, the airport added “more flights and more seats taking off than any top-ten U.S. airport,” notes the newspaper.

REMAX of Cherry Creek

Photo Copyright: arinahabich / 123rf.com

Movember Foundation!

This November, I have joined the movement to help raise money and awareness for men’s health. Together we can make a difference for men’s health – in prostate cancer, testicular cancer, mental health, and suicide prevention. HELP ME STOP MEN DYING TOO YOUNG.

I have joined up with my buddy Eric Elkins and we put on a MOVEMBER Happy Hour at Interstate! $1 from each Horse’s Neck cocktail purchased was donated to the Movember Foundation, $40 in total.

Put your money where you Mo is! Visit my page to donate. We still have more days to donate to reach our goal!
https://mobro.co/13852872?mc=1

In the United State, 1 in 9 men will be diagnosed with prostate cancer in their lifetime.

More from the MOVEMBER FOUNDATION

THE MOVEMBER FOUNDATION
Stopping men dying too young

Our fathers, partners, brothers and friends face a health crisis that isn’t being talked about. Men are dying too young. We can’t afford to stay silent.

THAT’S WHY WE’RE TAKING ACTION.

We’re the leading charity changing the face of men’s health. We’re addressing some of the biggest health issues faced by men: prostate cancer, testicular cancer, and mental health and suicide prevention.

We know what works for men, and how to find and fund the most innovative research to have both a global and local impact. We’re independent of government funding, so we can challenge the status quo and invest quicker in what works. In 15 years we’ve funded more than 1,200 men’s health projects around the world.

By 2030 we’ll reduce the number of men dying prematurely by 25%.

Again, I really appreciate your support. Visit my page with the MOVEMBER Foundation.

THANK YOU FOR YOUR SUPPORT!

Joseph Newman, The Colorado Broker.

6 Near- Genius Ways to Fool Burglars Into Thinking You’re Home

School Districts are More Important to Denver Home Buyers than other Amenities

School Districts are More Important to Denver Home Buyers than other Amenities

We all know home buyers desire high-performing school districts. But what are they willing to sacrifice for this priority? Plenty, according to a recent survey by Realtor.com.

The survey found that 78% of home buyers place a good school district above other amenities. “School districts are an area where many buyers aren’t willing to compromise,” Realtor.com Chief Economist Danielle Hale noted of the survey’s findings, as reported by CBS MarketWatch. “For many buyers, ‘location, location, location’ means ‘schools, schools, schools’.”

According to MarketWatch, more than half of home buyers (59%) studied test scores to determine a school district’s quality. Others considered whether the school had a gifted and talented program (53%) and art and music education (49%).

Among the amenities they were willing to sacrifice for great schools: a garage (19% were willing to let this go); updated kitchen (17%); number of hoped-for bedrooms (17%) and outdoor living space (16%).

“Of course, buying in a good school district comes with a significant premium as well,” adds MarketWatch, which cites a 2016 Realtor.com study noting that homes in higher-rated school districts were 49% more expensive on average than the median-priced home nationwide.

Reach out to me at The Colorado Broker and I would be happy to provide you with a school district map so you can see what district is right for your family.

 

ReMax of Cherry Creek

Photo Copyright: Pan Xiaozhen / Unsplash.com

The Colorado Broker – Computers vs Humans Home Appraisals

Computers can do home appraisals. But humans are better

In our computer-oriented world, decisions driven by data and algorithms have become commonplace. This raises the question: Is there still a need for human input to get the right outcome?

It’s a question many are asking regarding home appraisals.

“With these [technological] advances, will computers inevitably replace appraisers when it comes to valuing homes?” asks John S. Brenan, director of appraisal issues for the Appraisal Foundation. He explored the idea in a recent Realtor Magazine article.

Computer models, called automated valuation models (AVMs), are used by websites like Zillow, tax assessors, lenders and others. Most experts agree that AVMs have their place in today’s world. For example, they are useful in situations where the appraisal isn’t critical.

Brenan offers the situation where a person owns a $2 million home free and clear and wants to take out a $50,000 line of credit. “I’d be irate” he notes, “…if I had to pay a large fee” for an appraisal. In this case, an AVM would work nicely and save the homeowner as much as $700 in appraisal fees.

Computer algorithms also work well when evaluating average homes with no special variations. But few homes are “cookie cutter.”  AVM’s don’t consider whether the home is located on a busy street corner, if it has been updated or is in major disrepair, and so on.

As Brenan writes: “[C]omputers don’t buy houses; people do. An AVM does a great job of analyzing tangible features, such as a property’s age, number of bedrooms and baths, square footage and lot size. However, a property’s overall appeal is something that has been, at least to date, extremely difficult to quantify.”

Brenan notes that while AVMs can help appraisers in their valuations, the human element is still critical in most situations. “[U]nless and until AVMs can better emulate the human factor, an ethical and competent appraiser remains indispensable.”

I have been in the industry for a long time and have established relationships with reputable appraisers in Denver throughout the years. Contact The Colorado Broker, Joseph Newman,  if you would like contact information for our trusted appraisers in the area.

ReMax of Cherry Creek

Fall Festivals in Colorado are upon us!

You probably already know this about me but one of my favorite seasons in Colorado is upon us. Even though temperatures in Denver already feel more like winter we are still very excited for Colorado’s Fall Festivals!

Also, if you are interested in buying or selling a home this fall don’t hesitate to reach out to me at TheColoradoBroker.com or email me at Joseph@theColoradoBroker.com

John Denver Celebration

Photo courtesy of JohnDenver.com

When: Wednesday, October 10 – Monday, October 15
Where: Various locations, Aspen
Cost: Free to $80 (depending on the event)

The Lowdown: Singer-songwriter, John Denver’s last name isn’t actually ‘Denver,’ it is Deutschendorf. He changed his last name to make himself more marketable and chose Denver because Colorado was his favorite state. You may know his hit song “Rocky Mountain High,” boasting about the beauty of this state. To celebrate the musician, every year a John Denver Celebration is held in Aspen around this time, where fans gather together for a week of events. Festivities will include tribute bands, a gathering at the John Denver Sanctuary and stories of Denver told by his friend, Jim Salestrom.

Telluride Horror Show

Photo courtesy of Telluride Horror Show.

When: Friday, October 12 – Sunday, October 14
Where: Various locations, Telluride
Cost: $150 for three-day passes; $75 for six film tickets; $15 for individual film tickets.

The Lowdown: Honestly, horror movies may be the best part about Halloween — so a film festival dedicated to the genre, with the bonus of being located in Telluride, naturally attracts scary movie fans from around the world. The Telluride Horror Show is a weekend full of film screenings with both new horror features and shorts from around the world including the US, Ireland, Japan, Austria and more. Most notably, commemorating the 30th anniversary of Killer Klowns from Outer Space will be a showing and a Q & A with director Stephen Chiodo. We can’t think of a better excuse to get out to Telluride. To see the full film lineup and more, check out our recent story.

READ: Telluride Horror Show Adds More Films and a Scary Virtual Reality Experience

Pumpkin Festival

Photo courtesy of Denver Botanic Gardens on Facebook.

When: Friday, October 12 – Sunday, October 14, 9 a.m. to 5 p.m.
Where: Chatfield Farms, 8500 W. Deer Creek Canyon Rd., Littleton
Cost: $10 per adult; $8 per child; Discounted advance and member pricing.

The Lowdown: Just south in Littleton, the Botanic Gardens’ Chatfield Farms will soon be hosting its Pumpkin Festival — a full weekend of pumpkin picking and fall activities. This event is all about the kids with face painting, pony rides, photo booths, a mini-maze, bouncers and slides. Local craft booths, food and drink vendors, live music and horse-drawn hayrides will be available as well. This is the perfect fall day of fun for the family.

Bloody Mary Festival

Photo courtesy of Bloody Mary Liberation Party on Facebook.

When: Saturday, October 13, 10:30 a.m. to 6 p.m.
Where: EXDO Event Center, 1399 35th St., Denver
Cost: $45 for general admission; buy tickets here

The Lowdown: Are you a bloody mary aficionado? Well, we’ve got the festival for you. The Bloody Mary Festival will stop through Austin, San Francisco and here in Denver to fulfill your vodka and tomato juice dreams. It is ultimately a conquest to taste a variety of bloody marys from several restaurants in Denver and choose your favorite. Food trucks, food samples and live music will round out this event commemorating brunch’s most coveted drink.

St. Dominic’s Oktoberfest

Photo courtesy of St. Dominic’s Parish.

When: Saturday, October 13, 2 to 8 p.m.
Where: St. Dominic Catholic Church parking lot, 2905 Federal Blvd., Denver
Cost: Free Admission

The Lowdown: St. Dominic’s Oktoberfest held in the St. Dominic’s Parish parking lot, is essentially a brewery festival for the Highlands. The event will host seven micro-local breweries: Little Machine Beer, Zuni Street, Joyride Brewing, Blind Faith, De Steeg Brewing, Factotum Brewhouse and Diebolt. Three highlands food vendors have been announced so far and three Denver based bands will be playing live music throughout the day. Support local businesses and have a lovely beer drinking time.

Pumpkins & Pilsners Festival

Pumpkins and Pilsners. Photo courtesy of Families for Estes on Facebook.

When: Saturday, October 13, 11 a.m. to 6 p.m.
Where: Bond Park, 170 MacGregor Ave., Estes Park
Cost: Free Admission

The Lowdown: If you’re itching to get away, Estes Park is looking pretty good this time of year (as is all of Colorado), but still — it’s a nice fall getaway. The annual Pumpkins and Pilsners hosted by Families for Estes is a free fall festival, fun for kids and adults alike. Just like the name, it’s all about craft beer and picking pumpkins. For the kids, there will be a bounce house, games and crafts. All profits from the festival will go to the sponsor in order to support educational, family-friendly and recreational opportunities in Estes Park.

Breckenridge Craft Spirits Festival

Photo courtesy of GoBreck.com

When: Friday, October 19 – Sunday, October 21
Where: Various locations, Breckenridge
Cost: $15 – $90 (depending on the event)

The Lowdown: Breckenridge, if you haven’t been, is one of the coolest ski towns in Colorado and there is always something exciting going on. The Breckenridge Craft Spirits Festival coming up is no exception. It will be hosted at Beaver Run Resort, where you can also book a room or condo to stay during the festival. The weekend will consist of cocktail workshops, a scavenger hunt and bar mix off, a guided tour of the town’s historic district and tastings. The main event is the Grand Tasting ‘Still on the Hill’ — admission provides craft spirit tastings, craft cocktails, artisanal snacks, people’s choice voting and live music.

Giant Pumpkin Festival

Photo courtesy of Rocky Mountain Giant Vegetable Growers on Facebook.

When: Saturday, October 20, 11 a.m. to 3 p.m.
Where: Old Colorado City, 2324 W. Colorado Ave., Colorado Springs
Cost: Free

The Lowdown: Charlie Brown’s: It’s the Great Pumpkin comes to mind with the mention of a giant pumpkin. Have a Charlie Brown moment this fall at the Giant Pumpkin Festival at Old Colorado City in Colorado Springs. The Rocky Mountain Giant Vegetable Growers (RMGVG) will be competing for the Biggest Pumpkin in Southern Colorado. In addition to browsing the large pumpkins, there will be a pumpkin patch for people and families to pick from. Kids can get their face painted or a balloon animal from a balloon artist. Attendees are encouraged to dress up in their Halloween best. The area has tons of shopping and restaurants as well for you to enjoy before or after the event.

Broadway Halloween Parade

Photo courtesy of the Broadway Halloween Parade

When: Saturday, October 20, 6 p.m.
Where: Broadway from 5th Ave. to Alameda Ave., Denver
Cost: Free 

The Lowdown: Broadway is a very diverse area with all kinds of personalities and people roaming around, so what better place to have a crazy costumed Halloween Parade? In its second year, the Broadway Halloween Paradepresented by City Council, the Broadway Merchants Association and Lucky District 7 will take place two weekends before Halloween. The parade will travel down Broadway from 5th Avenue to Alameda. Decked out floats, marchers, bands and attendees are encouraged to wear their favorite costumes. Close to the end of the parade, festival goers can march in the street with all of the floats and performers.

READ: 15 Places to Enjoy Happy Hour on South Broadway

Emma Crawford Coffin Races & Festival

Photo courtesy of Manitou Springs Emma Crawford Coffin Races on Facebook.

When: Saturday, October 27, 12 to 4 p.m.
Where: Manitou Springs
Cost: Free

The Lowdown: Manitou Springs is having its 23rd annual festival about a woman, Emma Crawford, who came to the town in 1889. She arrived searching for a tuberculosis cure and fell in love with the town. Two years later, Crawford died and her wish was to be buried on the top of Red Mountain. In 1929, her coffin came racing down the side of the mountain and a few kids found the coffin and some of her remains. So the town made a coffin race and festival about this crazy story and legend of Manitou Springs. Watch racers and non-racers dressed up in their best spooky attire glide down the main thoroughfare of this gorgeous, old-timey town.

Georgetown Loop Railroad – Oktoberfest

Photo courtesy of Georgetown Loop Railroad and Mining Park.

When: October 13, 14, 20, 21, 27 and 28
Where: Georgetown Devil’s Gate Depot, 646 Loop Dr., Georgetown
Cost: Prices vary; Tickets can be purchased here

The Lowdown: The last three weekends in October you can experience a magical Oktoberfest train ride on the Georgetown Loop. All riders on these dates will receive a free Colorado microbrew tasting, root beers for the kids and a free bratwurst or hot dog. Nothing too fancy, just a great excuse to take a ride and witness the changing leaves.

Glow at the Gardens

Glow at the Gardens. Photo courtesy of Denver Botanic Gardens.

When: October 17, 18, 23, 24 and 25
Where: Botanic Gardens, 1007 York St., Denver
Cost: $10 – $18; buy tickets here

The Lowdown: Experience Glow at the Gardens where the botanic gardens get all dressed up at night with luminaria-lined pathways, spooky displays and glowing pumpkins. Several pumpkin artists carved them up in their own way, making for a different sight everywhere you turn. Enjoy scary storytelling, pumpkin carving demos, glow in the dark cornhole, a Halloween trivia wheel, LED performers and tons more. Seasonal food and beverages will be available at both of the gardens’ cafes. You can either just enjoy the sights or take in part in one of the many activities.

Halloween Events at the Denver Zoo

Photo courtesy of the Denver Zoo.

When: October 5 – 28 
Where: The Denver Zoo, 2300 Steele St., Denver
Cost: Prices vary; Member and non-member pricing. 

The Lowdown: The Denver Zoo has several events planned for the Halloween season, starting this weekend. The Enchanted Hollows, a night walk experience for both kids and adults, will be held every weekend until Halloween. Guides will tell stories of the roots of Halloween on an eerie trail through the zoo. Boo at the Zoo is an all-day event (Oct 21, 22, 28 and 29) for kids to trick or treat and wear costumes with a unique view of the zoo during fall. And Taps and Tails is for the adults on Thursday nights in October to sip local beers and watch live music — you may as well dress up and laugh at each other, too.

Pumpkin Nights

Photo courtesy of Pumpkin Nights.

When: October 17 – November 4
Where: Adams County Fairgrounds, 9755 Henderson Rd., Brighton
Cost: Prices vary; buy tickets here

The Lowdown: Want to pretend you live in the movie The Nightmare Before Christmas? Well, you’re in luck, the event Pumpkin Nights which has 3,000 hand-carved pumpkins and eight “Pumpkin Lands” will be coming to Denver for its first time. Each pumpkin land is themed one being the Hogwarts castle in Happy Potter. It is a half mile long walking path with insane pumpkin displays covered in crazy lights and decor. There will be pumpkin painting, pumpkin artist carving demos and fire dancers from the Spirit of Pumpkins fire show. Enjoy local food and beverages while you take in this dazzling, spooky pumpkin wonderland.

READ: A Huge Halloween Festival is Coming to Denver With 3,000 Hand-Carved Pumpkins

November

Día de Los Muertos – Breckenridge

Dia De Los Muertos. Photo courtesy of Breckenridge Creative Arts.

When: Thursday, November 1 – Saturday, November 3
Where: Arts District, Various locations, Breckenridge
Cost: Free workshops, exhibitions, activities and more. 

The Lowdown: If you’re an art lover, this festival is for you. The Breckenridge Dia de Los Muertos will be a weekend full of activities, starting with an opening party featuring a five-piece salsa band playing at the ‘Ofrenda’ exhibit at Old Masonic Hall. It will also have a free buffet, with a cash bar. Events include five exhibitions + performances, four folk art workshops and several activities and talks. Whether you want to make a Catrina skull doll, get your face painted or participate in a flash mob — your creative senses are sure to be pleased.

Día de Los Muertos Celebration – First Friday Art Walk

Photo courtesy of Art District on Santa Fe on Facebook.

When: Friday, November 2, 4 to 9:30 p.m.
Where: Denver’s Art District on Santa Fe, Santa Fe Dr., Denver
Cost: Free

The Lowdown: If you’ve never experienced first Fridays on Santa Fe, it’s a time when all of the galleries on the strip between 7th and 9th avenues come alive on the first Friday evening of the month. The first Friday of November will be a celebration of Dia de Los Muertos in the Santa Fe Arts District. Face decoration stations will be positioned throughout the Arts District starting at 4 p.m. Dress in Catrina attire and join in on the parade starting at 7 p.m. There will be a costume contest as well. If you don’t want to dress up, just come to enjoy the sights and celebrations.

10th Annual Pumpkin Smash Festival

Photo courtesy of Scraps-to-Soil, Neighborhood Compost Club on Facebook.

When: Saturday, November 3, 12 to 4 p.m.
Where: Idaho Springs baseball fields, 101 Idaho Springs Rd., Idaho Springs
Cost: Free with a signed ticket; Details here

The Lowdown: The folks at Scraps-to-Soil, a composting collective in Idaho Springs, have a unique way of disposing of pumpkins after Halloween. The 10th annual Pumpkin Smash takes place at Shelly/Quinn Fields in town, where people bring their pumpkins and pulverize them into pieces using Louisville Sluggers and slingshots. There will also be food vendors, beer, a pumpkin pinata, pumpkin bowling, face painting and more. This is a great opportunity for kids and adults alike, to learn about composting all while smashing pumpkins.

Día de Los Muertos Celebration – Botanic Gardens

Photo courtesy of Denver Botanic Gardens.

When: Saturday, November 3, 9 a.m. to 4 p.m.
Where: Botanic Gardens, 1007 York St., Denver
Cost: Free Gardens and Event Admission

The Lowdown: It’s not often that you can get into the Botanic Gardens for free, so its Dia de Los Muertos celebrationis the perfect excuse to see the gardens and take in part in this 3,000-year-old Mexican celebration of the dead. Costumes are encouraged and featured activities include live art demonstrations, Lucha Libre, face painting, children’s crafts and more. Some activities will be dependent on the weather. A market (El Mercado) will showcase artist vendors from Colorado sharing their Dia de Los Muertos original art. Traditional altars and shrines for deceased loved ones will be arranged throughout, making for a colorful beautiful way to celebrate the dead.

Vintage Market Days

Photo courtesy of Vintage Market Days of Colorado Springs on Facebook.

When: Friday, November 16 – Sunday, November 18
Where: Norris Penrose Event Center, 1045 Lower Gold Camp Rd., Colorado Springs
Cost: $5 per person; Free admission for kids 12 and under. 

The Lowdown: ‘Bringing the vintage experience to you.’ Vintage Market Days is an event that began in Tulsa in 2011 but has since grown to eight locations and five states. It is a gathering of vendors selling antiques and re-purposed and handmade items. Food vendors, artists, gardeners and chefs also showcase their products and talent. Vendors include Stella Ella Vintage Dress, Inglenook Soaps & Co., Rusted Rabbit and more. Venture to Colorado Springs next month for some fall decor and attire — and perhaps a few Christmas presents.

I would love to hear about your experiences at these festivals, if you go to one and have a great experience, please let me know!

303Magazine.com

 

September Market Report

Market Insights for Fall 2018

Housing inventory increases to the highest level in four years giving homebuyers more selection and signaling increased days on market and a slowdown in the rate of price growth.

Is this the time to sit on the sidelines waiting for the market to turn?

With interest rates expected to go to 5.1 percent in 2019 and forecasted appreciation softening but continuing to remain strong at 5.6 percent year over year in Denver, the cost of waiting is significant.

Don’t fall into the trap of rumors about the Denver Real Estate market. Contact me directly and I will help guide you through the buying or selling process.

A $425,000 home today will cost an estimated $23,800 more in purchase price in one year and $286 more a month in your mortgage payment – that’s a 13 percent increase or cost for waiting a year.

With that being said, don’t wait to purchase until next year. The time to buy is now. Contact me directly to get the buying process start. I have an excellent team backing me that will make sure home buying is as seamless as possible.

Quick Stats:

  • Average active listings for August is 17,020 (1985-2017).
  • Record high August was 2006 with 31,664 listings and 2016 represented the record low with 7,327 listings. August 2018 had 8,228 active listings.
  • The 20-year average change in active listings from July to August is a .16 percent decrease. 2018 represents an increase of 7.65 percent. This is the highest percentage increase ever recorded.

DMAR Market Insights

If you have any real estate questions or needs please feel free to reach out to me directly at Joseph@thecoloradobroker.com.