Housing Starts and Permit Down for April 2018

April had some bad news for future housing inventory. Housing starts dropped 3.7% month over month in April, worse than the expected drop of 0.7%. Three of four regions posted declines in starts, our home region, the West, had a 12% drop. Housing permits dropped as well by 1.8% month over month, however, permits beat expectations which were forecasting a 2.1% drop. March 2018 had some positive revisions that boosted the number of starts and permits over what was previously reported. March building permits growth was revised up from 2.5% month over month to 4.1% month over month. March housing… Read moreHousing Starts and Permit Down for April 2018

Denver’s Least Expensive Neighborhoods: #4 Ruby Hill

5280 Denver’s Mile High Magazine recently released a list of the four most affordable neighborhoods in the Denver area. We spoke about the most affordable neighborhood on Wednesday, Indian Creeks and the second Friday, Montbello and the third Mar Lee on Monday. The fourth most affordable neighborhood in scope is Ruby Hill. The average home sale price was $308,958. The 2016 median income is $43,312vs. $61,105 for Denver as a whole. There are several schools in the area, all ranked well. Godsman Elementary and Scmitt Elementary received high marks, as did Strive Prep-Ruby Hill and Strive Prep-Federal, the last two… Read moreDenver’s Least Expensive Neighborhoods: #4 Ruby Hill

Denver’s Least Expensive Neighborhoods: #3 Mar Lee

5280 Denver’s Mile High Magazine recently released a list of the four most affordable neighborhoods in the Denver area. We spoke about the most affordable neighborhood on Wednesday, Indian Creeks and the second Friday, Montbello. The third most affordable neighborhood in scope is Mar Lee. The average home sale price was $291,033. The 2016 median income is $48,172 vs. $61,105 for Denver as a whole. There are several schools in the area, some good and some bad. Force Elementary, Charles M. Schenck Community School, and Denison Montessori met DPS expectations while Johnson Elementary received lower marks. A great area of… Read moreDenver’s Least Expensive Neighborhoods: #3 Mar Lee

Denver’s Least Expensive Neighborhoods: #2 Montbello

5280 Denver’s Mile High Magazine recently released a list of the four most affordable neighborhoods in the Denver area. We spoke about the most affordable neighborhood on Wednesday, Indian Creeks. The second most affordable neighborhood in scope is Montbello. The average home sale price was $285,448. The 2016 median income is $47,058 vs. $61,105 for Denver as a whole. There are several schools in the area, some good and some bad. Maxwell Elementary met DPS’ expectations, however, Marie L. Greenwood Elementary, McGlone Elementary, and John H. Amesse Elementary did not. Montbello is just south of the Rocky Mountain Arsenal National… Read moreDenver’s Least Expensive Neighborhoods: #2 Montbello

Denver’s Least Expensive Neighborhoods: #1 Indian Creek

5280 Denver’s Mile High Magazine recently released a list of the four most affordable neighborhoods in the Denver area. We plan to take the next couple of days to touch on all four and provide insight from the article as well as some other facts to help you decide if in your quest for buying a home that these neighborhoods are right for you. The first neighborhood in scope is the most affordable, Indian Creek. The average home sales price was $282,729. The 2016 median income is $50,307 vs. $61,105 for Denver as a whole. For the 2016-’17 school year,… Read moreDenver’s Least Expensive Neighborhoods: #1 Indian Creek

Our Neighbor Next Door: Average Price of Single-Family Home in Boulder Crosses the Million Dollar Mark

Due to a small flood of $2 million-plus homes sold in Boulder the average price of a single-family house has increased up to $1.2 million. This figure represents a massive 21% year-over-year increase for the first quarter of 2018. Median home price, which is often the preferred method of measuring an area’s cost, is $900,000 up only 3.8% year-over-year. The main driver of this 21% increase was the high-end luxury market of $2 million-plus homes. In the first quarter of 2017, there were only 5 sales in this market. In the first quarter of 2018, this increased to 18 sales…. Read moreOur Neighbor Next Door: Average Price of Single-Family Home in Boulder Crosses the Million Dollar Mark

Larry’s Yun Thoughts On Relieving The Housing Crunch

Lawerence Yun, the Chief Economist of National Association of Realtors, had an article called What To Do To Relieve The Housing Inventory Crunch that touched on several key points on what would help increase the supply of home in the market. They are as followed with our commentary. 1.Provide regulatory relief to small-sized community banks. Something we agree with Larry with. Small community banks got caught up in the post-financial crisis remedies which have impacted their ability to lend. Larry says, “They did not cause the subprime loan mess. Just let them get back to the business of lending.” 2… Read moreLarry’s Yun Thoughts On Relieving The Housing Crunch