There's a term in residential real estate to describe Buyers who are ready to go: Ready, Willing, and Able. These people have their ducks in a row, are qualified financially (both literally qualified with lender, and figuratively qualified, meaning they have assets and employment to support a purchase without having to do anything else). Their intention is to purchase a property Continue Reading
Real Estate News
Handcuffed to Your House
June 16, 2023 There's a phenomenon known as "Golden Handcuffs" being mentioned for a large part of the reason why inventory levels in Denver are very very low. The concept is that due to people having low mortgage rates, they will not sell. This is partly true, but there is more nuance to the issue at hand. The fact of the matter is that the vast majority of people with Continue Reading
Understanding Where Supply Comes From
Sources for New Supply In Real Estate, you will often hear that prices are determined by Supply and Demand. While Supply and Demand is a fundamental tenet of markets, it's important to understand that with the housing market, both the supply side, and the demand side, can be, and are often artificially manipulated, sometimes on purpose, and sometimes inadvertently. There are Continue Reading
Mortgage Application Index Portends Stormy Future
March 8, 2023 Mortgage rates have moved quickly from ~6% to ~7% over the past 30 days: Mortgage Rates Head Back Over 7% After Powell Testimony 30 Yr. Fixed: 7.03% (+0.04% ▲) | 15 Yr. Fixed: 6.48% (+0.03% ▲) | https://t.co/hpyoRNAipg — Mortgage News Daily (@mortgagenewsmnd) March 7, 2023 As would make sense, new mortgage applications are down a staggering 42.3% year over year. Continue Reading
Where’s the Inventory?
It seems like there's nothing for sale The inventory in the Denver Metro Real Estate market has been so tight, there has been such as shortage of homes for sale it seems, that many are questioning where all the houses are that should be for sale? In fact, in our last blog post, we mentioned that inventory year over year for December is down an incredible 65.9%. It's very Continue Reading
Sunshine, Millennials, and Migration
Zillow Predicts Denver as One of the Nation’s Top Housing Markets for 2021 In previous blog posts we mentioned some headwinds that Real Estate in general in the US and in particular in big cities may have moving forward, but we believe Denver may be an outlier and will outperform most other cities in the future. Zillow recently confirmed our thought with their own prediction. In Continue Reading
Real Estate Market Out of Gas?
Is the Real Estate market out of gas? Is the party over in 2021? In a recent article from this past week in the Denver Post entitled Metro Denver housing market running out of gas, economists tell agents, the Post quotes several local economists who say that rising sales and double-digit price increases have reached their limits. It goes on to say that the Denver Real Estate market Continue Reading
Denver | Top 10 Housing Market in 2021
In a recent post on this site, I wrote how cities in America are undergoing immense changes in the near and long term. With less emphasis on office work, in-person meetings, etc. migration, population movements, and living arrangements are already adjusting. It's hard to dispute these changes, but there is reason to believe that mid-size or smaller cities, especially if they are less Continue Reading
The Future of Denver and the American City
The American City was doing so well, then Covid happened. With 2020 drawing to a close and Covid-19 still at the forefront of American life, many changes have happened and are still happening quickly in the arrangement of American life, namely how and where people choose to live. The period immediately following the Great Financial Crisis, the entire decade from 2010-2020, was a great Continue Reading
The Gov’t Shutdown and Real Estate
Don't worry, this isn't a political post, at least not overtly :-) It's been hard to miss the news of the on-going Government Shutdown the past few weeks. While I believe a deal will be struck soon, or at least a stop-gap measure to re-open the government for a period of time, kicking the can down the road a bit further, one thing has really struck me with all the reporting: The Continue Reading
A Soft(ish) Landing
What is Different in 2019 Well this year is off to an inauspicious start already in the Financial World, lots of pessimism. See my 2019 predictions from earlier this week. It's safe to say I'm cautiously neutral. Not pessimistic but not optimistic. I'm hoping for a "soft landing." What we are seeing quite simply is the winding down of years of massive stimulus, the Continue Reading
Denver Real Estate Predictions: 2019
It’s that time of year again as we turn calendar over to 2019 where Americans are looking into the near future to conjecture what the next year may bring. We focus on Real Estate here at Abode, with a focus on Denver in particular, so that is where this blog post will focus. Good predictions should be rooted in facts and data, trends, extrapolated out, and that leads me to my first Continue Reading
No, Your Home Doesn’t Make a Good Rental
No, You're Home Doesn't Make a Good Rental Property Real Estate in Denver and in Colorado is booming, and it's been that way for a while now, probably going on 7-8 years. Many people who have bought homes during the past 7-8 years who have seen their home go up in value (on paper) may be thinking to themselves, well, maybe I should buy another home and rent out my current Continue Reading
Colorado #2 For Retirees
WalletHub recently published its 2018 rankings for best states for Retirees, and Colorado came in at #2, behind only Florida. Wallethub's methodology compared the states across 3 main categories: 1) affordability 2) Quality of Life and 3) Health Care With the staggering statistic that almost 30% of non-retirmenet adults have not saved any money for retirement, affordability is Continue Reading
Adjustable Rate Mortgages
When you are shopping a mortgage, most people default to a 30 year fixed rate mortgage. It's safe, the known quantity, and the mortgage product you hear about the most. With rates around 4% currently for a 30 year fixed rate mortgage, why look for anything else? You get a fixed payment for 30 years that never changes (your taxes and insurance that your lender may escrow will Continue Reading
2018 Real Estate Predictions
I've been busy this first week of 2018 reading through economic forecasts, Real Estate Forecasts, and really getting deep into it. The one thing to bear in mind is most people making forecasts have a vested interest in something or other. For instance, financial industry workers rarely admit that the stock market is overvalued or may correct. Realtors rarely say its a Continue Reading
2017 Was a Banner Year
Wow, 2017 was an absolute banner year both in the stock market as well as Real Estate. The focus of this website is Denver Real Estate so let's recap the year now that it is officially in the books. 2017 was a historic year for Denver’s housing market as more homes sold for higher average and median prices than EVER before, and sales (dollar) volume reached an all-time high. Continue Reading
What?! People are Leaving Denver??
More Coloradans moving out as population growth brings traffic headaches, higher home prices. This is the headline in the Denver Post this week. People have been moving West since Lewis and Clark in 1804, actually, since way before Lewis and Clark. How about since 1607. Manifest Destiny. Denver has always enjoyed a very healthy amount of transplants not just from the East Continue Reading
Denver NEEDS a Supertall!
This past week the Denver news media all picked up a story about a proposed new skyscraper at 650 17th St. in the Central Business District. The proposal actually (quietly) leaked out weeks ago with a rendering and speculation regarding the developer, Greenwich Realty Capital out of NYC, but within the last week, the same developer released updated renderings and a slick new website. Continue Reading
Micro Units- How Small Can You Go?
Micro Units- A New Trend In Urban Living A new, or at least revived, trend in Urban Housing is making its way to the Mile High City. Micro units, already popular in dense cities in Europe and Asia, are catching on in the United States in high density and expensive cities such as New York and Seattle. In fact, Seattle may have, by some Continue Reading
Bubble, Correction, Plateau?
There's no doubt about it: The Denver Real Estate Market has been very frothy the past few years. It started to pick up lots of steam in 2013 or so, and has been full steam ahead now for upwards of 3-4 years, as in 10% a year appreciation. The cause: Well, Low Interest Rates, Cheap Money, Fed policy has had a lot to do with stimulating the economy, and Colorado is very Continue Reading
Welcome to Your Abode
Welcome, and thanks for visiting Abode Real Estate Please browse around and make yourself at home. We will never force you to enter your contact to view information: we feel that information and listings should be free and widely disseminated! If you are in need of Real Estate services, and you like what Abode provides, we'd love to meet with you for coffee and discuss helping you sell Continue Reading
