The Denver Real Estate Broker Blog

May 2024 Denver Market Update

Prices soften as we enter our retraction phase earlier than anticipated this year. Recent trends indicate significant shifts, presenting both challenges and opportunities for buyers and sellers alike.

Market Overview:
May brought a substantial influx of new listings, bolstering inventory levels. Concurrently, buyer demand has slowed, pushing us into our retraction phase earlier than usual this year. Traditionally, we see price increases from January through June, but this year, the market peaked early due to the highest inventory levels seen in May since 2014 combined with a softer buyer pool, causing prices to decline.

In the coming months, we expect more inventory to enter the market, leading to continued price softening, with stabilization anticipated towards the end of the year. This period presents a prime opportunity for buyers to negotiate, with concessions becoming more common and sellers more willing to address inspection issues to close deals....

The Ultimate Guide to Becoming a Real Estate Tycoon (Even if You're Just Starting Out)

How to become a real estate TycoonAspired by many, becoming a real estate tycoon can seem like an overwhelming endeavor for those just starting out. But anyone can succeed as a real estate investor if they have the correct information and tactics in place. We'll go over the measures you need to take, even if you're just starting out, to become a real estate entrepreneur in this comprehensive guide.

1.) The first step is to start your education. You are going to want to start reading or listening to real estate books to begin to understand the industry. I would suggest you start with "Real Estate Principles: A Value Approach" by David Ling and Wayne Archer and "Real Estate Investing for Dummies" by Eric Tyson and Robert S. Griswold. Those are 2 great references to start....

The Most Common Mistakes People Make When Buying a House (and How to Avoid Them)

First time buyer

Are you thinking about buying a house? Congrats! Owning a home can be a great investment and a rewarding experience. But it's also a big decision, and there are many things to consider. In this video, we'll talk about the most common mistakes people make when buying a house, and how you can avoid them.

Mistake #1: Not having a clear budget

One of the biggest mistakes people make when buying a house is not having a clear budget. It's important to know how much you can afford before you start looking at houses, so you don't waste your time or get your heart set on something you can't afford. To determine your budget, consider your income, debts, and other financial obligations. It's also a good idea to get pre-approved for a mortgage, so you know exactly...

Should you buy a house now in Denver or wait?

The real estate market in the Denver area has been booming, and with mortgage rates, at an all-time high, it's important to know what this means for you.

Many expect more increases from Federal Reserve Chairman Powell on the base rate over holidays. The prevailing opinion of most experts is that the Fed will increase rates by another .75%. As I am sure we all know, this is predicated upon the inflation rate and whether on not it has started to decline.

Of course, most people say this isn’t great but it does provide a helpful backdrop as we start this discussion of whether you should buy now or wait till 2023.

Let's start by asking who is buying right now. Lots of first-time homebuyers. This is a surprise to many. There have been a lot of discussions about people being priced out of the market with how crazy the market has been. However, in the first half of 2022, 45% of homebuyers were first-time homebuyers. This percentage is back to where it was over the last five years in...

Why move to Denver

Moving to DenverLooking for a city with plenty of opportunities, exciting nightlife, and stunning natural scenery? Look no further than Denver, the vibrant and energetic capital of Colorado. With its thriving economy, sunny climate, and diverse population, Denver has something for everyone. Whether you mountain bike or simply enjoy great food and drink with friends, there's no better place to be than Denver.

Denver is a truly diverse city, with residents from all walks of life. From young professionals in the tech sector to artists and musicians living in the city's vibrant cultural districts, there is truly something for everyone in Denver. Whether you're looking to connect with new people or find your unique community, you have found the right city.

Looking to start a business or take your career to the next...

The secrets to successful real estate investing in Denver

Secrets to investing in DenverDenver is one of the most popular real estate markets in the country, and for good reason. The Mile High City boasts a strong economy, a thriving job market, and an abundance of amenities that make it an attractive place to live.

Denver is the capital and most populous city of Colorado. Located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains, Denver is nicknamed the "Mile-High City" because its official elevation is exactly one mile (5280 feet or 1609.3 meters) above sea level.

Denver has one of the fastest-growing economies in the United States, with an estimated GDP of $134 billion in 2019. The metropolitan area produces 22% of Colorado's GDP, making it the largest economic center...

When will the housing deals start in Denver?

When will the housing deals start in Denver? I will try to answer this with some predictions for the next year.

First, we'll take a look at the real estate market in Denver from a historical perspective. Next, we'll look at the current state of the Denver real estate market which should lay a foundation for a reasonable guess of what may happen in the future.

Looking Back

Historical housing numbers

The Denver real estate market has been experiencing extreme price appreciation for the last decade. The average home price in Denver has increased by 218% from 2012 to 2021. That averages to around 24% appreciation, per year, for that timeframe. So, why did that happen?

While it's difficult...

Highest and best for your home sale - starts with a strategic marketing plan

The Neir Team at Kentwood today reflected on their April home sales. The month proved to be a good one as a result of our tenacious marketing strategy, which has been in development for twenty-one years. Every house has a story to tell it's our job to tell it The main aim was always to give people greater peace of mind by creating a marketing strategy proven to achieve the highest home value possible....and by experienced application, this service has achieved incredible success thus far.

We strive to provide a comprehensive home listing service. Anyone familiar with the market conditions in the greater metro Denver region will probably have noticed how most listing brokers seem to take photos, print a brochure, and put a sign in the yard. We felt this was a problem because, in a hoStaging allows us to curate a feel for the home....

Urban Living Flats, Central Parks newest affordable housing project

The Urban Living Flat at Central Park

The Central Park Living Flats at the corner of Central Park Boulevard and 36th Ave. in the Central Park neighborhood of Denver is the newest addition to the affordable housing initiative set forth by the city and County of Denver.

The Central Park neighborhood in Denver has a large number of affordable housing units, as this was a requirement of the neighborhood master plan. Most of the affordable housing units in the neighborhood are been made up of townhome units. The Urban Living Flats is the first affordable condo project in the neighborhood.

The Urban Living Flats at Central Park Denver is made up of 132 units on three floors. Each floor consists of 44 units which are a mix of one and two-bedroom units. One-bedroom units average 721 square feet...

New Decade, New Trends in Real Estate

Extended time at home because of the Corona Virus has us exploring home upgrades and renovation. Simple upgrades that increase happiness and value have been the focus as of late. 

Now let's take a look at how styles are changing as we head into the third decade of the millennia. Keeping up with current style trends and making incremental upgrades ensures that you don’t find yourself in decades old home. Outdated homes take longer to sell and sell for considerably less than their updated counterparts. Secondly, keeping your home updated adds joy to your life, it's a simple fact! 

So, let’s dive into the design trends in real estate that are making a splash in 2020. These styles are not for everyone...