We Are Entering Uncharted Territory [Denver Housing Market Update]

It is time once again for a Denver housing market update, because I have something to tell you: namely, things are going to be looking different around this town (and, perhaps, much of the nation).
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[@DenverLivingwithSam]

P.S. When you're ready, here’s how to get in touch: 1 - Book a time to talk with me 📅 calendly.com/samneumann/30min 2 - Fill out my client inquiry form 📝 forms.gle/WrjMLJRPRUYUH7Sh8 3 - Call/text/email me directly📱 720-515-8811 [e-mail]

[@GreenMachine0990]

interest rates coming down to 5% might not make enough buyers come off the sidelines if unemployment goes up. It's weird times! Keep in mind, I have a friend in Denver that told me in early 2023 that "we overspent on our house but we were hoping to refinance in the future to lower our payment... and he already had a 5% rate from earlier in the cycle. I told him, don't count on it. Artificially low interest rates broke the market from 2008 all the way until 2022, it's a bit ambitious to think any of it can be fixed in just 2 years.

[@julesdupontiii]

price of the house would just climb up and be more competitive. everyone is ready to jump at a lower rate that they will end up overspending

[@BP-1972]

Interest rates aren’t the problem it’s the home price. 7.5% on a $150k house is a deal. Thats what I had on my first home. Now it’s 7% on a $600k home.

[@DenverLivingwithSam]

I agree in general, but am not sure we'll be seeing $150k homes again.

[@sparksmcgee6641]

No. You bought a payment on your first home and that's what people have done for the last 50-100 years.

[@GBennet]

It would be interesting to see how much this is hitting the condo market. With HOA fees skyrocketing I'm seeing a lot of condos listed for 2+ months. Pretty surprising for this time of year!

[@iamtoothewalrus]

Same with townhomes, with some townhome HOA fees over $600 a month!

[@SigFigNewton]

Yeah HOAs are becoming less popular so fast I’ll be shocked if they appreciate faster than non HOA homes

[@nneisler]

@@SigFigNewton They'll be going down

[@hieroglyphicstar_3223]

​@@iamtoothewalrus that's insane 😳

[@matthewhailey6721]

You should look back in the 80's when you could not give a home away in the Denver metro area.

[@level1life79]

The price of the home is everything. Its not going back up this time when they drop rates.

[@sparksmcgee6641]

Yes it will. Happens every time. 100 years of data. People buy payments.

[@theravingwanderer2174]

Thanks for this video. Learnt a lot from this 🙌

[@IvanBarron911]

Smells like a recession. Don't shoot the messenger

[@jasenjahn]

People have been saying “recession” for the last 4 years. No soup lines yet. Real estate is so unpredictable. All I know is supply and demand is nation down. Ask a 25 year if they can afford a home?

[@FrontRangFrenchies]

@@jasenjahn you sound worried to me 🤦‍♂️ I bet you bought or refinanced at 6% 😂 now your value won’t drop too much in a resort town like the boat or breck but we’re already seeing homes sit on the market for 180+ days and go well under asking, when this time 2 years ago it was on the market for a week at most and multiple bids over asking. I own all over the country and Colorado is going to be one of the spots hit the worst outside of resort towns

[@SigFigNewton]

Asphyxiate?

[@JustStartingOut-nt8ve]

It's not weird to me, but it looks like crashing.

[@Chinunit22]

Homes and townhouses cheapest ones are 415k for 2br 1ba fixer upper houses in Aurora and Townhouses 2ba 2ba with 450$ monthly HOA also 400k and those are the cheapest ones too. It's still way overpriced

[@MsValiG]

it's nothing weird if you pay attention

[@fastbreakr]

Buy in Denver if you don’t mind rampant homelessness, illegal immigrants, and urban decay

[@legatus_newt]

Grew up in a rust belt city, Denver has very little urban decay. Homelessness sure, but an empty building / lot is bought up and redeveloped fairly quickly in this city. The worst of the urban decay is that old railyard owned by Union Pacific but the city can't do shit about that. That is federally granted land given to Union Pacific the city has no say over it other than fining them every time a fire starts and our fire department has to go deal with it.

[@fastbreakr]

@@legatus_newt youre right. Probably not so much urban decay. Especially compared to a place like Detroit or Cleveland.

[@FrontRangFrenchies]

We’re in a huge bubble and we’re gonna see a huge crash. Everyone should stop buying homes to help the crash happen faster

[@jasenjahn]

Not with supply being so low. The bubble is a myth.

[@FrontRangFrenchies]

@@jasenjahn I body cares about your small mountain town bud, inventory is up like crazy everywhere and nobody is buying

[@FrontRangFrenchies]

@@jasenjahn where do you see supply low? It’s up 20% everywhere 😂

[@jasenjahn]

@@FrontRangFrenchies for starts, phoenix, Idaho, California, Utah. That 20% up, what price range are you in? Are you talking homes in 800k+ range? And where? Nationally, there is a shortage of more than 7 million affordable homes for our nation's 10.8 million plus extremely low-income families.

[@jasenjahn]

@@FrontRangFrenchies “I body cares” try buying a house in Montana, phoenix, California, Utah, Idaho, Seattle, Boston, nyc…

[@FrontRangFrenchies]

Just make sure you vote for Trump and we will get this economy back on track

[@jasenjahn]

What are you talking about? Not one of my blue collar friends make under $150k+. Plummers, electricians, mechanics, landscaping co’s, hvac…they are doing great. I have buddies in software, 3rd party retail, real estate, nurses and all are killing it. I raise cattle. I’m having a record year. Supply chains are all repairing after covid, and almost every sector is doing great.

[@FrontRangFrenchies]

@@jasenjahn 😂 tell me your a Biden voter without telling me. I own a mechanical business doing commercial plumbing and pipe fitting and pull in high 6 to 7 figures some years. That doesn’t mean the price of everything isn’t through the roof, rents are crazy for people right now property is outrageous for this area an nobody is buying because the piss poor 7% rates. Our dollar is down record numbers, and we just let in 12 million illegals that Colorado thinks it’s a great idea to give business licenses too 😂 they are actually one of the only reasons unemployment isn’t higher if you look it up and read. What’s the Democrats solution? Is it sending billions and billions to Ukraine and Israel? Or may it also be sending our children to fight a war for another nation? You would have to be blind and dumb to not realize trumps first 3 years in office was the best economic time in America in the last 70 years before the plandemic.

[@FrontRangFrenchies]

@@jasenjahn your having a record year because the price of beef is through the roof with this current administration 😂 just proves my point further

[@jannibal9273]

Oh yeah, tariffs on everything coming into the US, then retaliation tariffs, and skyrocketing inflation with businesses going under because average Americans can't afford to buy much of anything. Unemployment rises - stagflation is something Republicans LOVE to do to their fellow Americans, we the peons who aren't in the top 1%.

[@FrontRangFrenchies]

@@jannibal9273 your an idiot 😂 Trump had the bed economy the first 3 years of his presidency in the last 70 years 😂

[@jasenjahn]

Wall Street still destroying the market. I know in my small mountain/ski town there’s no inventory. Sheds that are 10x10 on a small piece of land is selling for $400k. My home price 3x since 2018.

[@iginlacow]

It’s weird how you can’t understand how to break down the markets in a granular way yet you’ve been an agent for 4 years. lol.

[@vonguyen4046]

Presidential year the housing market always heats up earlier and cool down faster

[@CamperMan727]

2019 was not buyer friendly. Houses were going under contract in 3 days for over asking.

[@reedjack6564]

Homie started in real-estate in 2019 which is why it was the best... in his limited experience.

[@Chinunit22]

All the way to mid 2022, people had been overpaying 50k above asking already inflated prices. Also, it may come back as interest rates get lowered again

[@CacheMeOutside97]

Do seller concessions work if im planning to buy cash?

[@DenverLivingwithSam]

Technically, you can do them, but it doesn’t make a whole lot sense. With a cash deal, it’s the exact same as lowering the purchase price. Plus, there’s no loan to buy down.

[@adamchou9123]

If you're hoping for interest rate reduction, you might be in for a rude awakening. The fed won't drop the interest rate unless something in the economy is broken, like high unemployment. Look at the last housing crash in 2009. The rates didn't drop until after the recession started. And home prices kept dropping with the interest rate going down. When the economy is broken, people don't have money to buy houses. They're trying to offload the house to stay afloat.

[@sparksmcgee6641]

You obviously don't listen to the federal reserve statement.

[@adamchou9123]

​@@sparksmcgee6641you mean like when they said inflation is transitory? Or when they forecasted 3 cuts earlier this year but then backed out? And even if you take their word for face value, they said they're only going to drop rates once. So what, a quarter percent? That's negligible.

[@sparksmcgee6641]

@adamchou9123 they didn't forecast cuts for this year the market did. Inflation has been stopped. And you acting like every failure in your life is their fault is laughable. I can easily state you don't read fed announcements because you would have started by saying their actions are data dependant.

[@davedrum5752]

It doesn't matter how much the interest rates come if unemployment SKY ROCKETS

[@SigFigNewton]

Interest rate reductions aren’t likely to raise prices anyway

[@SigFigNewton]

Because everyone thinks they will, they won’t. All these sellers anticipating rate cut price bumps are effectively collectively waiting to dump their properties onto the market at the same time.

[@SigFigNewton]

Not unlike how stock market bottoms happen precisely when everyone expects the market to go lower

[@Milkytron]

Do you have experience with land purchases? Looking for a realtor that can help me out with that regarding easements, utility access, soil quality, etc.

[@DenverLivingwithSam]

Yes, would love to help. Shoot me an email at [e-mail].

[@andresestrella6247]

How can we get access to the June report from Megan Aller?? I tried google and only found up to January numbers

[@DenverLivingwithSam]

It used to be public, but now it's just a (paid) service for licensed industry folks. But I can share whatever info you're looking for in it. Shoot me an email.

[@Ocho817]

When rates do start to come down how many buyers will be waiting for it to REALLY drop and how many sellers who also waited for lower rates will start to list. It may be the opposite of what everyone seems to think. Inventory may continue to climb and prices continue to soften. The fomo buyers are gone.

[@nathancragg6202]

Yep, I’ve not had a house for most my adult life for various reasons and have zero incentive to jump into a FOMO house. Either it’s amazing deal or good enough for remaining working years

[@FAQU2]

How many 25-35 year olds do you know? ALL of them that I know want a home, have been saving for a home, have worked to pay off student loans, and are waiting to buy a home if only interest rates dropped!

[@toddsparks7814]

Lol, uncharted for you! Noobs have no idea how great this change is for everyone.