Living in Broomfield for half a decade, the Rocky Flats is one of the most pristine beautiful natural areas left in the Denver area. Best sunsets, elk, foxes, flora, flat iron views, 2 lane winding roads….. I hope it is never developed and left beautiful for the residents of the city!
Good stuff man! Not really surprised. We have always been trend setters. 😁 That area around 128 north of Rocky Flats is gorgeous. Flat Irons vista is stunning. It's also and easy commute to Boulder. We ruled out that area because of concerns about ploutonion. It you make peace with that, the area has a ton of upside. That area north of 470 and Highland Ranch is really cool. We sometimes drive down Broadway on our way home from church. Lots of cool restaurants. Last time we had lunch in Englewood. Montebello is another data point to support the affordability narrative. I get it too. Easy access to the airport. Daniels Park is the best place I have found to see Bison and enjoy panoramic views of the front range. It's a Friday night date hotspot around sunset.
I sold my condo in 80203 in April 2021 (bought in July 2007). I would not buy there these days (South Broadway). It used to be lovely--became highly dangerous in 2020. It went from a very safe neighborhood--again, SoBo nightlife area--to a hotbed of heroin addicts, human feces, needles on the ground. I saw it coming and pulled stakes at the right time, apparently. I sold everything and moved to the beach in Albania.
You're right about affordability. I recently saw a couple videos that gave me broader perspective. One was about the home affordability crisis in Australia. The other was about the affordablity crisis in Canada. Canadian immigration to the US is up because of the relatively affordable home prices. It's easy to get tunnel vision and see these issues as only Denver problems or only US problems when they clearly aren't. We've all been through a global trauma that we are finally recovering from and markets are returning to normal. Prices got way ahead of wages. The doubling of corporate profits year over year is a clear sign companies exploited the opportunity to raise prices way beyond what their costs demanded. They are starting to pay the ptice for that in list demand. The good news is those fat peofit margins give them room to raise wages. As rates come down and the economy picks back up wages will have time to gradually catch up. Getting through this election season will help alot too.
Thanks for sharing this data. I have a townhome in the suburbs I'm planning to sell soon then go rent downtown, and I was concerned it was getting too late in the season, but it sounds like the suburbs are staying steady right now.
It depends on the suburb, but yes, they're definitely doing better. FWIW< we've gotten a little bump recently and the market picked up quite a bit over Labor Day Weekend (which is rare), so your timing might just be perfect.
When the fed pivots a lot of realtors believe this will simulate buying because of lowering mortgage rates. But, if the FED pivots, it usually signals a broader downturn in the economy at large. The correction will continue, inventory will climb, realtors will quit. The only chance for redemption is money printer go brrrrrrrrr
I'm not so sure. The fed has already pivoted (too late, as usual, but I digress). Realtors have already quit. I agree that inventory may climb once rates drop due to that lock-in effect starting to evaporate, but there are still a whole lot of buyers (mainly millennials, a sizable generation) sitting on the sideline and waiting for affordability. So we'll find out which one of these factors is more powerful. Certainly "feels" like the market needs prices to come down more, but hard to go off of feel.
@@DenverLivingwithSam the government red or blue wants people in homes. Loans can get cheaper, down payments can be lessened, mortgage lending qualifications can ease up... and more people will have the ability to spend more on homes.
Great information!
Living in Broomfield for half a decade, the Rocky Flats is one of the most pristine beautiful natural areas left in the Denver area. Best sunsets, elk, foxes, flora, flat iron views, 2 lane winding roads….. I hope it is never developed and left beautiful for the residents of the city!
Good stuff man! Not really surprised. We have always been trend setters. 😁
That area around 128 north of Rocky Flats is gorgeous. Flat Irons vista is stunning. It's also and easy commute to Boulder. We ruled out that area because of concerns about ploutonion. It you make peace with that, the area has a ton of upside.
That area north of 470 and Highland Ranch is really cool. We sometimes drive down Broadway on our way home from church. Lots of cool restaurants. Last time we had lunch in Englewood.
Montebello is another data point to support the affordability narrative. I get it too. Easy access to the airport.
Daniels Park is the best place I have found to see Bison and enjoy panoramic views of the front range. It's a Friday night date hotspot around sunset.
It really is hard to beat bison with mountain views. Quintessential Colorado!
I sold my condo in 80203 in April 2021 (bought in July 2007). I would not buy there these days (South Broadway). It used to be lovely--became highly dangerous in 2020. It went from a very safe neighborhood--again, SoBo nightlife area--to a hotbed of heroin addicts, human feces, needles on the ground.
I saw it coming and pulled stakes at the right time, apparently. I sold everything and moved to the beach in Albania.
You're right about affordability. I recently saw a couple videos that gave me broader perspective. One was about the home affordability crisis in Australia. The other was about the affordablity crisis in Canada. Canadian immigration to the US is up because of the relatively affordable home prices.
It's easy to get tunnel vision and see these issues as only Denver problems or only US problems when they clearly aren't. We've all been through a global trauma that we are finally recovering from and markets are returning to normal. Prices got way ahead of wages. The doubling of corporate profits year over year is a clear sign companies exploited the opportunity to raise prices way beyond what their costs demanded. They are starting to pay the ptice for that in list demand. The good news is those fat peofit margins give them room to raise wages. As rates come down and the economy picks back up wages will have time to gradually catch up. Getting through this election season will help alot too.
Thanks for sharing this data. I have a townhome in the suburbs I'm planning to sell soon then go rent downtown, and I was concerned it was getting too late in the season, but it sounds like the suburbs are staying steady right now.
It depends on the suburb, but yes, they're definitely doing better. FWIW< we've gotten a little bump recently and the market picked up quite a bit over Labor Day Weekend (which is rare), so your timing might just be perfect.
When the fed pivots a lot of realtors believe this will simulate buying because of lowering mortgage rates. But, if the FED pivots, it usually signals a broader downturn in the economy at large. The correction will continue, inventory will climb, realtors will quit. The only chance for redemption is money printer go brrrrrrrrr
I'm not so sure. The fed has already pivoted (too late, as usual, but I digress). Realtors have already quit. I agree that inventory may climb once rates drop due to that lock-in effect starting to evaporate, but there are still a whole lot of buyers (mainly millennials, a sizable generation) sitting on the sideline and waiting for affordability. So we'll find out which one of these factors is more powerful. Certainly "feels" like the market needs prices to come down more, but hard to go off of feel.
@@DenverLivingwithSam the government red or blue wants people in homes. Loans can get cheaper, down payments can be lessened, mortgage lending qualifications can ease up... and more people will have the ability to spend more on homes.