The Rear View Mirror and the Windshield

Team CHR Buying, Market Trends, Selling

Do you have a road trip that you take repeatedly? Heading over to Sturgis on the Harley? Trundling off to Lake Powell? If so, you are familiar with the waypoints. That place you stop for a milkshake. A noteworthy view from a mountain pass. The historical marker where someone famous did something noteworthy at some time in the distant past. The …

Buying and Selling in Uncertain Times

Team CHR Buying, Selling

It is 1979. Oil prices are skyrocketing as the American hostage crisis in Iran begins and the Middle East is plunged into more turmoil. Brenda Spencer opens fire at a school, killing 2 and wounding 8. When asked why, she stated, “I don’t like Mondays.” McDonald’s introduces the Happy Meal. Los Angeles passes an ordinance to protect the civil rights …

Save Money with Energy Efficiency

Team CHR Buying, Selling

Good news on the energy efficiency front related to residential real estate: homes have become much more energy efficient!  In 1978, all residential properties consumed 10.58 quadrillion Btu. In 2005, the number stood at 10.55 quadrillion Btu. That may not seem like any progress at all until you realize that during that time frame: The average square footage of a house increased 32%. Only …

Understanding Market Shifts

Team CHR Buying, Market Trends, Selling

We’re seeing lots of news recently about a shift in the metro Denver residential real estate market. It’s true! The market IS shifting. However, the portrayal of this shift as reported in the popular media and even by many industry sources contains only a drop of truth in an ocean of misinformation. LET’S UNRAVEL TRUTH FROM FICTION. Most of the …

You’re Being Targeted

Team CHR Buying, Selling

THE TERMINATOR In the movie Terminator, Sarah Conner is targeted for assassination by cyborgs from the future. Machines of the future have rebelled against their creators and are seeking to eliminate human beings from the face of the planet. They are on the verge of succeeding. The only man standing in their way is John Connor, son of Sarah. The robots …

Case-Shiller Agrees with CHR on Home Price Appreciation

Team CHR Buying, Selling

We’ve heard it several times in the last two days so maybe you’ve heard it too: The Case-Shiller Home Price Index put out by Standards & Poor/Core-Logic shows home prices are up 6.4% nationwide compared to one year ago. You may not have heard that this is the 72ndmonth in a row that the index has been positive. According to …

Millennials, Baby Boomers and Real Estate

Team CHR Buying, Selling

Millennials vs Baby Boomers A lot of ink is spilled (or these days, you might say “a lot of gigabytes are disseminated”) on the impact of the Millennial generation on residential real estate. Conventional wisdom has it that Millennials are living in their parents’ basements and are priced out of the market. On the other hand, news abounds that Millennials …

Thriving as a Seller or Buyer in a Seller’s Market

Team CHR Buying, Selling

How’s the market?” Real estate agents get asked this question all the time. Our response: Who are you? Seller? Buyer? Both seller and buyer? Owner? An agent? The market is different for each of these players. The market is close to nirvana for owners. Homes have been appreciating at a compound rate of 10% per year since 2012. The average single-family home …

Two Unchanging Truths about Lenders

Team CHR Buying, Selling

We empathize with consumers When it comes to mortgage loans for residential real estate. Claims and counterclaims are made by lenders in their ad campaigns. Breathless announcers make it sound like XYZ Lender has some special program or unique service. In reality, there are just two truths you need to know about lenders and they apply in every geographic location …

Tiny Houses – Passing Fad or Next Big Thing

Team CHR Buying, Selling

Go to Amazon. Type in “MODS 20 Foot Tiny Home”. You’ll find that you can buy a tiny house that has been created in a shipping container – the kind of container used to transport items on railroads or ships. Just $23,000 for 160 square feet. Good news is that Amazon won’t have to put it in anything to send it to …

Average House Payments Near Historic Norm

Team CHR Buying, Market Trends, Selling

There are many ways to look at housing affordability. A prior post evaluated affordability by comparing payment required to income available over a 43-year time frame. An alternative methodology is to look at monthly house payments after adjusting them for inflation. At Colorado Home Realty (CHR), we conducted an affordability analysis recently using this complementary approach. Since this analysis takes …