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Real Estate Blog

 





The question we have all been dying to know: What’s going on in the housing economy? While there is not a simple single faceted answer to this question, as it is more complex than any single stand alone factor – there are several core influencers which assist in painting a dynamic picture of our market's health. Below are listed statistics which span several key categories which can be used to analyze the current state of our housing economy. 

Prices are falling: Home prices in September fell an average 4% over all price ranges from August listing prices. For the first time in years Denver's notoriously 'hot' housing market has started to cool. This may be bad news for those currently trying to sell their homes, but inversely provides a…
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For those of you that aren’t aware of the major construction project going down (quite literally) on 1-70 and appropriately named The Central 70 Project – it is essentially a 10-mile reconstruction project which will bury the aging highway of 1-70 underground between I-25 and Chambers Road. As the Denver Post quoted ‘it’s time to bring this highway into the 21st century’ -- and with that what’s more 21st century than the decision to remove a 54-year-old viaduct, add two new express lanes, and place a 4-acre park with a planned farmer’s market and outdoor movie theater over one of the largest highways in the state? The plan is as mod millennial as it gets-- check out full details here. That said, a project of such magnitude does not come without

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What’s going on in Moffat Colorado? (Never heard of Moffat Colorado? See below--) 420 acres of marijuana ‘co-growing’ space to be exact – a unique business operation (cleverly) named ‘Area 420’. Being one of the only places in Colorado that allows outdoor growing, Moffat has more less brought vanguard to the ‘economy sharing/ and co-working’ concept within the marijuana industry with their introduction of a Commercial Cannabis Park. Taking advantage of the major hurdles in the cannabis growing industry (including municipalities capping the number of businesses they allow and license applications costing anywhere from $750,000-$2 million dollars) Area 420 has surmounted major barriers to entry with their lots coming pre-approved with local

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Not to be overly dramatic in bringing up a category two hurricane and special assessment insurance in the same context – but nevertheless, I wanted to draw awareness to the importance being proactive when protecting your financial assets. If anyone has looked into purchasing, or has purchased a condominium in the past, you are likely well aware of the perils of the term ‘special assessment’ and risks associated. When buying into a building with commonly owned grounds, such a condominium, you are responsible for not only your unit, but the state and operations of the entire building  which is managed by a board of directors -- more commonly known as an HOA (home owners association). With this, you pay monthly dues to provide for the ongoing maintenance

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Words which sound too good to be true – but unless you’ve been living under a rock, are likely familiar with the means behind their substantiation– Airbnb. A hot, yet charged topic here in Denver, Airbnb has proved extremely lucrative for many homeowners, producing 183 million dollars of revenue in 2017. That being said, it has not gone without heavy regulation and scrutiny in the past few years. Prior 2016, just about any property owner could Airbnb out their home and get away with it – without much as a second look. Due to the increasing market share and heavy prevalence of the industry however, Airbnb has undergone strict mandating. Beyond public government regulations (mandating short-term rental licenses, adherence to lodgers’ tax (10.75%), and

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 Say what? Marriot strikes again bringing an official hotel hat trick to Cherry Creek North while introducing their latest edition of the Jacquard. With already existing hotel branches including the familiar JW Marriot and newer ‘millennial’ Moxy, the Jacquard fulfils yet another luxury niche – making a stance as the second ‘Autograph’ hotel in the state of Colorado (with the only other being the Brown Palace). The Autograph Collection is a unique global portfolio of luxury hotels which operates under the Marriot (think rewards points) but maintains its independent identity. That being said – what’s the full scoop on the ‘haute happiness’ this hotel exudes? Eight stories, 201 rooms, a killer restaurant [Narrative], 7,000 square feet of meeting space,

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Other than the overarching and consistently regurgitated sentiment that the Denver market is ‘hot, hot, hot’ –there is a more information needed to be disclosed to paint a fully accurate picture of our market’s health.

As we have seen a housing market appreciation euphoria over the past 5 years dictated by rapidly rising home prices and economic laws of supply and demand giving way to low housing inventory and high Buyer numbers, the gold rush cannot last forever – and the signs of slowing are already beginning to occur. Other than the obvious macroeconomic trends of rising interest rates and lacking rise in job wage growth, we are also beginning to see other factors such as decreasing number of properties under contract and longer days on

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A rendering shows one of the gateways that is part of the Morrison Road Streetscape Implementation Plan.

Being on the list still for ‘homes under 250k’ in Denver, Westwood seems to be a gem for investment potential. Not only are homes still perspectively affordable, but changes are in the air for this long time underserved and the predominately Spanish speaking neighborhood which encompasses the blocks between Federal to the west, Sheridan to the east, Alameda to the south, and Mississippi to the North.

 

What’s going on?

Morrison Road -- Westwood’s major thoroughfare, is scheduled to undergo a multimillion dollar transformation which will make it more pedestrian friendly, increase its aesthetic appeal, reconstruct five major intersections, and create two community gathering places modeled after Mexican Plazas (maintaining the vital essence

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An illustration of the

There is no doubt we are progressing in making our world a cleaner place on a mass scale from the #stopsucking movement lead by Starbucks and the bagless initiative which has most recently been adopted by grocery giant Kroger. That said, Denver is not skipping a beat on trending ‘green’ with the latest invention being a proposed trash-munching-energy-producing water wheel. Sound interesting – well it is. This proposed project would be a revolutionizing one and would resemble a 50 foot Ferris wheel placed in the South Platte River to not only provide power to the River North Prominade Development, but to clean crucial debris from the water. So far, $20,000 of funding has been given to research the potentials of this project, but it has not yet been a

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The scoop on the ‘scoot’

They were here, then they were gone, and now they are back; the infamous scooter fleets of Denver.

If you spent anytime downtown of late, you have noticed the re-proliferation of these dockless sidewalk riders hanging around on every other street corner or more notably -- being ridden around for convenient transportation means

With no shortage of conversation feed – there has been quite a bit of political and opinionated debate around this topic. With that being said (and in the case you were dying to know) here is a quick factual run down.

The ‘deets’: 350 Lime Scooters, 350 Bird Scooters (the OG scooters company which started the revolution in Santa Monica), and 200 Jump bikes

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