The Get Home Denver Team

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For the past 5 months I’ve been espousing the virtue of the current Denver Real Estate market. Statistics were not backing up my rosy opinion, but statistics are funny things. They are always open to interpretation, and my gut was giving me a very optimistic feeling.

I have people ask frequently my opinion on certain market “Facts.” My reply, Facts, Schmacts. They are only as good as who compiled them, and whose agenda they are being presented for. Major media outlets are crying the sky is falling, the National Association of Realtors are telling us the market is fine. The truth is, as is usually the case, some where in between. Additionally, the majority of these reports take a National perspective and Real Estate is local! I don’t care what is happening in New York or Boston (No offense intended if you are a thin skinned easterner)

What I know to be fact, after 17 years of selling homes in the Denver area, is last year SUCKED! I worked harder, and made less money, than in many years previous. What I also know, is I’ve got a feeling things are getting better. No statistical data, just instinct.

The Rocky Mountain News reported today Foreclosures are up, but the rate has slowed by 50%! Great News, but foreclosures are still up, and they will continue to affect the Denver area for a number of years. What does this mean? Are we getting better or worse? The statistic tells us we’re getting worse, just not as fast. So does that mean we are in fact getting better?

The only true tracking I can hang my hat on, is activity in the market. What I see is, activity is WAY UP. There are more showings of listings and more buyer’s looking for homes. In the past 3 weeks, the Get Home Denver Team, has had three contracts for purchaser’s become bidding wars. There have been at least 10 homes that have been on a buyer’s list that went under contract before we could take a look. We’re not the only ones. Pete Doty & Kristal Kraft, two other knowledgeable, local professionals both blogged recently of similar findings.

As we approach the summer selling season, we will all get a much clearer picture of what the future may bring. I’ll report back in the fall what my “gut” is telling me then!

Bottom line is Real Estate is local. Not just to Metropolitan areas, but even down to parts of town, and sub-divisions. Real Estate is also personal. The reasons for buying homes and property are many. As such, don’t pigeon hole yourself into some macro-economic view for an upcoming purchase. The best practice is to hire a professional, someone you trust. Get the data, make informed decisions, and do what is best for you and your family. Pretty simple!