I was told we had national exposure last night about the Highlands Ranch & Denver Real Estate market on “Nightline”. If you missed it here is a link http://preview.tinyurl.com/kt6wons
People can say a lot and not substantiate it, except in a anecdotal format. And most times those stories are poo poo’d by the listeners as being hype. I have found it really is happening just like it is being reported but not in all price ranges.
This chart tells me it is happening…I created it a few minutes ago from the Metrolist data base for the Denver real estate market. I will attempt to do this weekly so check back often or subscribe to my less frequent newsletter at petedoty.com/newsletter (if you go there now you will see a similar chart from a couple of weeks ago).
The entire spring season, the market has been this off-balance, with about 20% of our listings coming back on the market; (buyers are scared the bottom will fall). But until the Sellers out number the buyers the market will not cool. It will happen seasonally this fall/winter. Prices will eventually increase enough to cool the buyer’s enthusiasm but that will be seen in the number of listings increasing. And those who have heard me talk before on this know there is one factor that increases price or decreases it…the supply of homes to buy.
Buyer’s can get loans. Sometimes appraisers cannot keep up with the increasing values. However, a professional Denver Realtor should know how to appease the appraiser’s fears. And they do have fears because so many lost licenses just a few years ago.