Offered by Brian Margolis, The Margolis Team
Many clients stop by our Brighton office and ask, “What is going on with the market Brian? Everything is getting so expensive.” My response is, “Yes it is.” There are three key factors why our home values keep going up. The first goes back to the basics of economics… Supply vs. demand. There are simply not enough homes for sale. New construction is still years behind demand and re-sale inventory is still very low. There are currently less than 8,000 single family homes on the market. The second factor: thousands of people continue to move to our front range communities monthly. Third, the federal government continues to beg us to spend more money with interest rates in the low fours! These three factors continue to make this an almost five-year perfect storm of a hot real estate market.
The next question asked usually is, “when is it going to pop?” I don’t see the “bubble” effect happening again, like it did ten years ago, for two reasons. First, we have a much stronger and diverse economy. Secondly, it has been a lot more challenging to get a loan so there should be fewer defaults if the economy does go south.
When I work with out of state clients from either coast, they look at the Denver/Boulder real estate market as a value! This is what makes it so frustrating and competitive. It is also another reason why home values continue to rise.
On a personal note, I would like to thank and give a huge shout out to Keller Williams, the company I am a part of, for a project I participated in last month called #MegaRelief. Over 4,000 Keller Williams agents from 13 countries descended into Austin and took 62 buses to Houston to help total strangers after the devastation of Hurricane Harvey. Check out my personal or business Facebook page for photos and videos. This was all coordinated in less than two weeks. We have a division called KW Cares which helps victims all across the country when there are natural disasters. I paid for all my own expenses to get there and stay there, but it was a priceless experience. Certainly a trip I will never forget.
If you are interested in becoming a Realtor or interested in the current value of your home, check out Keller Williams or stop my office at 410 Strong in Brighton or our Westminster location by the Ranch Country Club. Please visit: www.TheMargolisTeam.com or call: Brian Margolis 720-352-0454. Helping families and clients since 1999.
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