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This video is very informative and explains the reasons for real estate market corrections. It also gives an historical perspective of where we’ve been, and the inevitable result of any downturn. A big shout-out and Thank You to Ted Mackel and the Homebuysblog from Simi Valley, for finding this gem!

Explaining the market is much easier than Timing the market. Timing is a much harder thing to predict. We believe the Denver Real Estate market is at, or very near the bottom. Read some of our previous articles, or better yet subscribe to our feed. You will then always be on top of the important statistics that will help you make up your own mind.

We always love to hear what you think! What are your predictions for the Denver Market? If you are thinking of a home purchase, or sale, when do you think it will be the right time to pull the trigger? What factors do you look at when making this decision? Etc…..

Strong Headline!  The Rocky Mountain News published this article, and I needed to comment.

The Colorado State legislature passed a law that went into effect January 1st, 2008, requiring Mortgage Brokers to become licensed by the State.  While most states have required the licensure of Mortgage Brokers for some time, Colorado was a bit behind the curve. 

Since the requirement went into effect (less than 90 days ago) there have been 73 people denied a license, or disciplined by the Colorado Division of Real Estate.  Offenses like Criminally Negligent Homicide, Lewd & Lascivious Acts in the presence of a Child, and Burglary are some of the reasons why licenses were denied. 

Just think only a year ago, these characters could have been giving you a “Good Faith Estimate”  Yikes!

While the Real Estate brokerage industry has been under the watchful eye of the State for decades, I’m glad the Mortgage Broker industry is finally regulated a bit also! 

This is great news for consumers, and a big “Atta Boy” goes out to the State of Colorado for protecting the public.  My only question is, What took so long? 

Contact the Get Home Denver Team to be hooked up with one of our Reputable Mortgage Professionals!

Just when I think the Media is too out of touch to save, they surprise me.

A Time Magazine article by Dan Kadlec, in the Right on Your Money section tells us that the sky is not falling!  Wow, how about that, a guy who gets it. 

His premise is when prices are falling few people have the discipline to use that money to buy other assets, and those who pull the trigger now, will benefit in the long run.  He cites a great example of a very likely scenario;

“Consider a typical home that sells for $218,900. You put down 20% and get a 30-year fixed-rate mortgage at today’s rate of 5.5%. Monthly principal and interest come to $994.31. Let’s say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise a point, to 6.5%, your monthly payment would be $994.94 and you’d have saved nothing. Meanwhile, home prices might steady and sellers might become less willing to negotiate. And you have spent a year living someplace you’d rather not be!”

This articulates the point we’ve been driving here, THIS IS A GREAT TIME TO BUY!  Check out the full article here.

To further the argument,  on March 6th, the Rocky Mountain News published an article by John Rebchook regarding the state of the local market.  Home sales are up 4% for the month of February and 4.9% year to date.  Check out the full article here.

The bottom line is:  What are you waiting for?  This is the perfect storm for buying right! 

Denver has less than a 1% risk of declining values.  This from third quarter data released from the Office of Federal Housing Oversight.  Only twelve of the largest 50 metropolitan markets have such a low risk. 

The areas of greatest risk tended to be those with large price increases over the past 3 years. 

Recently the Rocky Mountain News also reported the Denver area is stronger than many others.

Contact the Get Home Denver Team for more information!

So where is the Denver real estate market headed?  I’ve attached an informative video featuring Steve Murray of Real Trends.  Real Trends is a research and market trending analyzer.  They have been providing research and data, specifically for the residential real estate industry for over 20 years!

In this short video, Steve comments about where he see’s the market, both local and nationally, is headed.

For more information, or to put the video in perspective, please contact the Get Home Denver Team!