Love Your Hood

What The Republican Tax Bill Means For The Value Of Your Home

Source: Samantha Sharf at Forbes

What the Republican Tax Bill Means for the Value of Your Home

Trump’s Tax Cuts & Jobs Act was released at the beginning of November (follow the live coverage about it on The Wall Street Journal’s website). Three major components of this Reform that are relevant to buyers, sellers, and investors are:

  1. the mortgage interest deduction will go from $1million to $500k,
  2. a new cap on property taxes, and
  3. capital gains limitations.

These all become more concerning as the median home price is approaching $500k in Denver.

Read Article

A Slowdown in the Denver Real Estate Market?

Denver Real Estate Market Update - September 2017

Anyone else noticing a slowdown in the market? I bet those are words you didn’t think you’d read! But it’s true… we’re starting to see homes stay on the market longer and the median sale price is creeping down. If this fall/winter is anything like last year, then we expect the peak slowdown to happen in February. Oh, and the inventory… well, that’s low too (but that’s old news). Even though we’re seeing an uptick in homes for sale since August, we’re still under two months of inventory and holding steady in this sellers’ market.

Denver Area Home Prices Continue to Drop Heading into Fall

Source: Kurt Sevits at Denver 7

Denver Area Home Prices Continue to Drop Heading into Fall

Inventory is still low but we actually have some different kind of news to report to you: the Denver real estate market is slowing down just a little bit. In September, the number of homes that sold had a noticeable decrease. Typically sales are down 10% from August to September, but last month it was down 21%! Showings are slowing down as well. Denver isn’t known for following seasonal trends (#snowinoctober), but we may be getting a glimpse of an true seasonal slowdown in the real estate market.

Read Article

New Denver Affordable Housing Plan Faces Questions about How City Will Help Residents Being Pushed out

Source: Jon Murray at The Denver Post

New Denver affordable housing plan faces questions about how city will help residents being pushed out

Denver released Housing an Inclusive Denver, a 98 page draft plan that goes over how the city will bring opportunity to vulnerable neighborhoods. Rightly so, residents are questioning if this plan will help them actually stay in their home or if it will displace them somewhere else. In neighborhoods where generational and cultural roots run deep, we understand their concern. What are your thoughts?

Read Article

Denver Real Estate Market Update – August 2017

Denver Real Estate Market Update - August 2017

Months of inventory dropped 5.5% year over year. Average days on the market went up 20%. The median price for single family homes are up 11.8%. Why are homes sitting longer but everything else is trending toward an even tighter seller’s market?

One word, extremes. Buyers are circling the inventory like sharks, waiting for homes to hit. Homes in desirable ‘hoods, priced well, and in great condition are gone in a matter of days — sometimes hours. If a home hits the market and is passed over during the first week, it will likely remain on the market until action is taken by the seller (price drop, improvement, enticement, etc). Some sellers are overzealous and think the market is so hot they can just toss any crazy number on the listing and they will get an offer. The savvy buyer these days will only consider homes that are hitting now and rarely go back for a second look unless there is a substantial change in the listing.

From Mid-2000s Bubble, Denver Housing Prices Have Risen More Than Rest of U.S.

Source: Ben Miller at Denver Business Journal

From mid-2000s Bubble, Denver Housing Prices Have Risen More Than Rest of U.S.

99.5% of Denver homes are worth more than they were at the peak of the housing bubble in the mid-2000s. This is impressive, given that nationally only 48% of homes are worth more than they were at the peak. Just how much have Denver homes increased in value? A whopping 60% on average. What’s crazier: experts don’t see this reversing anytime soon.

Read Article

Denver Green Roof Mandate Will Go to Voters

Source: Michael Konopasek at Fox31 Denver

Denver Green Roof Mandate Will Go to Voters

In November, Denver will vote on whether or not new large buildings (25,000 sq ft or larger) should be required to install rooftop gardens, solar panels, or both. The purpose: to combat what is known as the “urban heat island” effect — when metro areas are significantly warmer than surrounding areas because of human activities. Our thoughts? Sounds like a great deal but the end users have to be willing to pick up the tab unless there is an incentive package. This will be another layer of expense for new housing when Denver is already in need of more affordable options.

Read Article