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Denver Real Estate Market Update

Recently I was speaking to a client of mine who was distressed about this “crazy new real estate market” and how “prices are just too high these days.” It got me thinking about how important it is that I do everything I can to set the record straight among my clients so they can better recognize where we are in the current market cycle. For folks who are interested in real estate and might be considering buying or selling a property, understanding the big picture is critical. Critical! So here’s where the market stands.

The majority of folks I speak with think this tremendous sellers’ market and super tight inventory is something new and something that’s going to come to a head and suddenly erupt overnight. Neither is true. Here’s the truth: we are SEVEN YEARS PAST THE BOTTOM of our last real estate cycle as you can see clearly from the below graph. Just because the Denver Post is suddenly aware of the real estate market and Zillow writes screeching articles about the tight market in order to sell ad space don’t be fooled into thinking this is something new. It’s not. It is a logical continuation of a market that is reacting correctly to the overselling we saw between 2006 and 2008, dropping 25 percent during that period. It’s doing exactly what real estate market cycles do, go up and go down over long periods of time. But remember, over the past 40 years residential real estate appreciation has averaged about 6 percent per year and there is no reason to think that it is going to change over the next 40 years.

We tend to erroneously think of market cycles in short terms, spiking and crashing over narrow periods of time and generally messing everything up. A quick look at the last market cycle shows clearly this is not how real estate works. Real estate cycles tend to move in much broader periods. Our last market upturn was from1990 – 2007, 17 years! This is why predicting short-term market movements can be very difficult, whereas recognizing the market will move in much broader cycles is more accurate. It’s what we learn by studying real estate market cycle history.

Let’s talk about where we are in today’s cycle. We are currently seven years past the bottom. The past seven years have been a sellers’ market with plummeting inventory, rising prices, nervous buyers often involved in multiple offers, and happy sellers more often than not getting the price they wanted.

But the client I referred to above was a potential buyer and he was very nervous. He tries to stay informed, reads news articles, watches TV reports and concludes the market is teetering on the brink of a crash and is therefore afraid to buy. And he’s been thinking this for years! He wants to buy because his rent is skyrocketing, up 10 percent this year alone, but he’s confusing the short-term media screeds about this tremendous market with the long-term patterns of market cycles, thinking that the minute he buys a home the market is going to crash.

So let me be clear: no one can predict the real estate market with 100 percent accuracy. I can’t, the Federal Reserve can’t, the banks with all the money can’t (obviously!), no one can. But, understanding how market cycles work, and recognizing how low our current inventory is, I can say with confidence I do not see any impending weakness in the market over the next couple of years. We are seven years into what will probably be a very lengthy cycle of low inventory and rising prices.

I can’t tell you what the Dow Jones will finish at next Monday. I can’t tell you if the Rockies will win their fifth game of the season. I can’t tell you what the weather will be on April 6. But I can say with confidence that real estate tends to move over predictable long-term trends, and this market cycle has a long way to go.

Let's Chat

I've been helping investors with developments, flips, scrapes, buy and hold cash flowing apartment buildings/homes/condos since 2001. Give me a call at 720-938-4350 to chat, or shoot me an email at BrianMacMillan@Mac.com.

Or feel free to search the properties for sale in the Front Range.

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Just Listed: Denver Modern Home For Sale

Just Listed: 2798 S Lincoln St, Englewood CO 80113

List Price: 560k

Like modern architecture? Don’t miss out on this uber modern custom single family home off the hot S Broadway corridor. Main floor has an open floor plan that includes solid birch hardwood floors, wet bar with concrete counters, dining area, laundry room, half bath, kitchen, and 2 story waterfall. Finishes in the kitchen include European style cabinets, Samsung stainless appliances, concrete counters, and a glass subway tile back splash. Upstairs has 3 bedrooms/2 baths (concrete counters), which includes a master bedroom and master bath with a very cool shower (water jets everywhere). The exterior has a wrap around deck on the front and side, as well a deck in the backyard covered by a pergola, sprinkler system, and detached 2 car garage. Lots of natural light during the day and the custom interior lighting creates a great entertaining environment at night. Walk to Harvard Gulch Park, restaurants, and bars. Easy access to light rail. Rare custom home opportunity, check it out soon.

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Let's Chat

I've been helping investors with developments, flips, scrapes, buy and hold cash flowing apartment buildings/homes/condos since 2001. Give me a call at 720-938-4350 to chat, or shoot me an email at BrianMacMillan@Mac.com.

Or feel free to search the properties for sale in the Front Range.

WilliamsFront

Just Sold: Brand New Custom Single Family (NE Denver)

Just Sold: 3644 Williams St, Denver CO 80205

Like modern architecture? If so, this is the brand new custom home for you! Exterior is wrapped with stucco and a beetle kill facade sourced from the CO Mtns. Inside, the open floorplan includes 100% Birch hardwoods. Kitchen is finished with white quartz counters, european cabinets, stainless appliances, subway tile back splash, and an island with a butch block counter and steel kick plate. An eat in kitchen separates the living room with a limestone wrapped fireplace wired for a flat screen tv. Upstairs there are 3 bedrooms, which includes a master bedroom/master bath. Bathrooms are finished with grey quartz counters/white cabinets/subway tile baths. Laundry room/tankless water heater also upstairs. Yard is professionally landscaped with a sprinkler system/drip lines/new fence & gates. Oversized garage has a pull down ladder leading to storage above. Rhino/Curtis Park only blocks away, light rail to Union Station/DIA opening soon. Don’t miss this brand new custom home opportunity!

 

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Let's Chat

I've been helping investors with developments, flips, scrapes, buy and hold cash flowing apartment buildings/homes/condos since 2001. Give me a call at 720-938-4350 to chat, or shoot me an email at BrianMacMillan@Mac.com.

Or feel free to search the properties for sale in the Front Range.

2835 S Sherman St Englewood CO-large-001-Exterior Front-1500x1000-72dpi

Just Listed: 2837 & 2835 S Sherman St (Englewood Duplex Project)

Just Listed: 2837 & 2835 S Sherman Street, Englewood 80113

List Price: 575k per side

My latest Denver Investment Property for sale is a scrape project off the South Broadway corridor.  My client just finished a brand new contemporary duplex, built by a great local custom home builder.  Denver duplex developments are happening all over town, but South Broadway real estate for sale has really picked up over the last year.  If you’re interested in Denver Investment Properties, S Denver and Englewood should be on your radar.  I have specific recommendations that I’m happy to share with you in person, contact me to set something up.

Here’s a description of 2837 & 2835 S Sherman:

Brand new contemporary half duplex built by custom home builder off the S Broadway corridor. Once inside you’ll notice a much larger footprint and floorplan than nearby half duplexes. Design includes an open floor plan, hickory floors, gas fireplace, formal dining, main level laundry, and a kitchen that includes quartz counter tops/Kitchen Aid stainless appliances w gas range/Brookstone cabinets/tile backsplash. Upstairs there is a master bedroom w Mtn Views/3/4 master bath, two other bedrooms and a full bath. Basement is finished with a bedroom/full bath, tall ceilings, and extra storage. Backyard includes a deck off the kitchen and a large/tall detached 2 car garage, front and back professionally landscaped with sprinkler system.

By the way, 2837 S Sherman went under contract before hitting the market.  Check out the photos below to see why:

 

2835 S Sherman St Englewood CO-large-004-Living Room-1500x1000-72dpi

2835 S Sherman St Englewood CO-large-005-Living Room-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-006-Living Room-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-007-Dining Room-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-008-Dining Room-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-009-Kitchen-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-010-Kitchen-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-011-Kitchen-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-012-Kitchen-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-014-2nd Floor Master Bedroom-1500x1000-72dpi 2835 S Sherman St Englewood CO-large-016-2nd Floor Master Bathroom-1500x1000-72dpi

 

Let's Chat

I've been helping investors with developments, flips, scrapes, buy and hold cash flowing apartment buildings/homes/condos since 2001. Give me a call at 720-938-4350 to chat, or shoot me an email at BrianMacMillan@Mac.com.

Or feel free to search the properties for sale in the Front Range.

34 Albion Street Denver CO-small-002-Exterior Front Entry-666x444-72dpi

Just Listed: 34 Albion St, Denver 80220 (Hilltop)

Just Listed: 34 Albion St, Denver CO 80220

List Price: 710k

Rarely do properties like this come to the market in a highly desirable neighborhood.  My latest Denver investment properties for sale is 34 Albion St, in the Hilltop neighborhood of Denver.  This property has all the charm and character of an early 1900’s Denver home; however, with property values so high in this neighborhood, taking the house down and building a brand new custom home makes sense financially too. With a lot size of 8930, there is plenty of room to expand or build new.  Close proximity to Cherry Creek, Cranmer Park, top ranked Steck Elementary, Trader Joes, and Snooze are great amenities.

Let me know if you’re interested in getting a tour of the property.  I can even have my architect/builder join to contribute a few ideas, as well cost scenarios.  Here are a few pictures of 34 Albion:

34 Albion Street Denver CO-small-003-Living Room-666x444-72dpi 34 Albion Street Denver CO-small-004-Living Room-666x444-72dpi 34 Albion Street Denver CO-small-005-Dining Room-666x444-72dpi 34 Albion Street Denver CO-small-006-Kitchen-666x444-72dpi 34 Albion Street Denver CO-small-014-2nd Floor Bedroom-666x444-72dpi 34 Albion Street Denver CO-small-018-Sunroom-666x444-72dpi 34 Albion Street Denver CO-small-024-Master Bedroom Balcony-666x450-72dpi 34 Albion Street Denver CO-small-019-Patio-666x444-72dpi 34 Albion Street Denver CO-small-020-Back Yard-666x451-72dpi 34 Albion Street Denver CO-small-028-Cranmer Park-666x444-72dpi

Let's Chat

I've been helping investors with developments, flips, scrapes, buy and hold cash flowing apartment buildings/homes/condos since 2001. Give me a call at 720-938-4350 to chat, or shoot me an email at BrianMacMillan@Mac.com.

Or feel free to search the properties for sale in the Front Range.