According to the National Association of Realtors Chief Economist, Lawrence Yun, existing home sales are forecasted to rise about seven percent in 2015. That’s a national expectation.
Local forecasts are for the Colorado Front Range area to meet or exceed this expectations.
With an already strong regional economy, and a strengthening national economy, it seems we’re in for another solid year. Although, some people are predicting a robust first two quarters in Denver metro real estate, and after that, it’s anyone’s guess.
We saw things take off like gangbusters last year in the late winter and spring into early summer, then the market mellowed out a little bit.
By late summer the market had calmed down and homes weren’t necessarily selling in a couple days…with multiple offers. However prices didn’t drop, and now that inventory is low again, the market is heating up even though it’s still only January!
Despite his forecasted increase in sales, Yun cites the anticipated rise in interest rates, lenders being slow to ease underwriting standards back to normalized levels, and homeowners unwilling to move because they are comfortable with their current low interest rate as potential speedbumps that could slow the increased pace of sales this year.
Here’s a Video with NAR Chief Economist Lawrence Yun: https://www.youtube.com/watch?v=U9g76qQ6VsU#t=11
-Zachary Epps, GRI®, ABR®, MCNE®, REALTOR®, Eco-Broker®, full-time RE/MAX professional, RE/MAX Hall of Fame, RE/MAX Platinum Club…and author of
Call, text, or email me today!… I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.
The Building height restrictions in Boulder, Colorado should be evident to most in town if you look at how many fairly recent new buildings around town, and especially downtown, are all at perhaps the exact same height.
This might be confusing however, if you look at the Colorado Building at the northwest corner of 14th and Walnut streets in downtown Boulder, or the Horizon West condo building on Folsom.
Both of these were constructed prior to the City of Boulder setting height restrictions and would never pass by today’s standards.
In case you missed it, there are some changes regarding capital gains tax rates, now more than ever, it’s important to consider a 1031 Exchange if you’re selling property and want to avoid paying that tax.
Capital gains taxes have changed significantly within the last year – they are now:
For many years Elevations, originally as the CU Credit Union, and then in recent years as Elevations, has served the local community with financial services including basic banking type consumer needs.
Loans have been a solid part of the credit union’s business, and I’ve had the pleasure of working with Elevations many times with my real estate buyer clients.
Apparently so, but don’t go looking to buy any of the local honey or eggs. It’s illegal to sell honey or eggs or other products from your home resources.
Seems kind of strange in a community that embraces ‘farm-to-table’ menus at many local restaurants, and has a packed farmers market every season.