July 2023 Housing Market Update

Elevated Interest Rates begin to impact Appreciation

-Housing market activity in the 11-county Denver Metro area remained constrained in July. Closings of existing homes were down 14% compared to last year. July typically brings a decrease in closings due to summer vacations and the July 4th holiday. Compared to June, there was a 12% decrease in closings.

Commentary

When we examined stats for the last couple months and compared them with 2019. We are well below 2019 activity in every way except for interest rates. Interest rates were in the 5% range and the housing market was starting to look like it was headed to a more balanced place. We go back to 2019 because that was the last time the market was not influenced by the pandemic and non-sustainable interest rates. What does this mean for us now? We don’t really know. Everything we know about our housing market feels upside down. Lower inventory usually means higher prices (prices are starting to dip again) and reduced inflation usually means lower interest rates (rates are the same or higher). We are facilitating more cash transactions than ever, and we are seeing more and more buyers being priced out of the market because of interest rates. The road ahead is too hard to predict but we are working hard to keep our clients up to date with all that we know.

In Other News

The Colorado General Assembly recently passed a new radon bill, effective now, requiring more transparency about radon during real estate transactions. The law requires further disclosure from Agents and Sellers about the gas similar to the lead based paint disclosure we use. Our contracts now give Agents and Sellers a formal way to address radon. If you would like to know about the bill that has been passed please click here to read more.

Solar Panel Removal 

Some folks are experiencing difficulty getting their Solar Panels removed and put back on while getting their roofs replaced. If this is happening to you please give us a call we have some ideas that might get that new roof on sooner than later!

Coming Soon Listings

We have several listings coming on in the coming weeks, Highlands Ranch, Castle Rock, Aurora. We will be sending a coming soon blast early next week. If you know some looking for some opportunities please send them our way!

9510 E Florida Ave. Denver, Colorado 80247

Location and Price make this Denver 2 Bedroom 2 Bath Condo a Great Deal!

Awesome Room-Mate and/or House Hack 2 Bedroom and 2 Bath Condo; Enjoy the open and spacious Living room/Dining room with Fireplace and Mantel* Primary Bedroom has it’s own Bathroom and Large Walk-In Closet* There is a covered Balcony and Storage Closet too*Kitchen has a full size Pantry and ample Granite Counters* There is a good amount of Closets throughout the unit* Full size Washer and Dryer come with this home*Furnace, AC & Water Heater all less than 1 year old*2 Use Only parking spaces are right outside*Don’t forget the lovely Outdoor Pool that is ready for Summer*Easy Access to DTC, Denver and Cherry Creek making a commute, if you have one, easy* Within 5 minutes from grocery shopping, major highways and public transportation* For the outdoor enthusiasts, the Highline Canal and Cherry Creek State Park are just minutes away, offering endless opportunities for hiking, biking, sailing, dog parks and other outdoor activities. This Condo offers the perfect blend of style, convenience, and location; This is one you won’t want to miss*

Click Here for More Information and Pictures

Conventional or FHA Financing, which one is right for YOU?

In 2023 there may be added benefits to inquiring about both options if you are in the market to buy a home. Often times in our more recent markets FHA financing has been frowned upon by listing agents, but that does not mean you shouldn’t explore your options. Below are some benefits of each type of financing:

Benefits of FHA Loans:

1. Lower down payment: FHA loans typically require a lower down payment compared to conventional loans. The minimum down payment requirement can be as low as 3.5% of the purchase price.
2. Easier qualification: FHA loans have more flexible credit requirements compared to conventional loans, making them more accessible to borrowers with lower credit scores.
3. Government-backed guarantee: FHA loans are insured by the Federal Housing Administration, which provides lenders with a level of protection in case of borrower default. This guarantee allows lenders to offer more favorable terms to borrowers.
4. Higher allowable debt-to-income ratio: FHA loans may allow for a higher debt-to-income ratio, which means borrowers with higher levels of debt may still qualify for a loan.

Benefits of Conventional Loans:

1. No mortgage insurance premium (MIP): While FHA loans require borrowers to pay mortgage insurance premiums, conventional loans do not have this requirement if the borrower puts down at least 20% of the purchase price as a down payment.
2. More flexible loan terms: Conventional loans offer a wider range of loan terms, allowing borrowers to choose the repayment period that best suits their needs.
3. No upfront mortgage insurance premium: FHA loans typically require borrowers to pay an upfront mortgage insurance premium, while conventional loans do not have this requirement.
4. Potentially lower overall costs: Depending on the borrower’s creditworthiness and financial situation, a conventional loan may offer lower interest rates and lower overall costs compared to an FHA loan. This is especially true for borrowers with excellent credit scores.

It’s important to note that the specific benefits of FHA loans versus conventional loans can vary depending on individual circumstances, such as credit score, down payment amount, and financial goals. Consulting with a mortgage professional can help you understand which loan option is best suited for your specific situation in 2023.

We are happy to share our Lender List with you anytime! Click Here to Chat Today!

2023 Property Tax Appeals – Tips and Tricks

Be Clear, Be Concise and Be Kind

This seems to be the subject of the Month. We have had so many folks reach out to us about appealing their property taxes and in the meantime we have gone on a mission to learn all we could about what a successful appeal looks like.

There are 3 components to your property tax bill:

1) Assessment Rate from State Statute

2) Tax Rate (Mill Levy) based on Taxing Authorities in your Taxing District

3) Assessor’s Actual Property Value based on

Sales in the Study Period: July 1, 2020 – June 30, 2022

The only one you can appeal is the Assessor’s Actual Property Value. The Assessor’s office uses a Mass Appraisal Model which cannot differentiate details. We need to remember that in most cases it comes close but there are valuations that are not correct.

What can you do?

-visit your county website and get the process and any forms you need

-find comparables- solds to your home – remember APPLES to APPLES not APPLES to ORANGES

-when using the study period try to get homes sold as close to June 2022 as possible

-when writing your appeal remember to be concise, be clear and be kind (the sugary type)

-need help? Call Willie or Lizz

Tips:

-If you have an appraisal during the study period (as close to June 2022) that shows a lower value submit that with your appeal

-3 to 5 comparable sales

-Highlight what you don’t like about your house – remember big things: Bathroom count, finished square footage, etc

-If the county shared the comparables they used make sure to verify them

-townhomes and condos rarely are successful on appeal

Finally, the assessor will take your file and now do an individual appraisal on your home using the data and information you submitted and their own. Appeals can cause an inflated value as well so make sure you really feel like yours is overstated. Values that miss by 10K or less are most likely not worth the appeal. The window is closing most counties you have until June 8^th some counties you have longer. This process is easy, don’t be intimidated.

Again, if you or anyone you know need some help, advice etc. we are here to help!

Chat Now!

Don’t Kill the Miller Moths

A Case for Coexistence

Colorado’s beautiful landscapes are home to a variety of flora and fauna, including the humble Miller Moth. While their annual arrival may be met with mixed feelings by residents, the humankind, it is important to recognize the ecological value of these insects and understand why they should not be indiscriminately killed. In this article, we will explore the significance of Miller Moths in Colorado’s ecosystem and highlight the benefits of coexisting with these fascinating creatures.

Natural Pollinators

One of the crucial roles Miller Moths play in Colorado’s ecosystem is their contribution as natural pollinators. These moths, known scientifically as Euxoa Auxiliaris, are important agents in the pollination of various flowering plants. As they flit from flower to flower, they inadvertently transfer pollen, enabling plant reproduction and the production of fruits and seeds. By allowing Miller Moths to carry out their pollination activities, we can help maintain the delicate balance of Colorado’s plant life.

Nutritional Value for Wildlife

Miller Moths are valuable food source for many native animals in Colorado. They serve as an important link in the food chain, being consumed by birds, bats, and other insect-eating wildlife. By eliminating Miller Moths, we disrupt this crucial food supply, potentially impacting the survival and reproduction of species dependent on them.

Cultural and Educational Value

Miller Moths have become a cultural phenomenon in Colorado, with their annual migration drawing attention and fascination from residents. They serve as an opportunity to educate the public especially children, about the natural world and the importance of biodiversity. By observing and learning about Miller Moths, we can foster a sense of appreciation of the interconnectedness of ecosystems and inspire stewardship for the environment.

Let us celebrate the beauty and value of the Miller Moths by coexisting with them, respecting their role in the web of life, and embracing the lessons they offer about our interconnectedness with nature. And in case you are still wondering….No they don’t eat human clothing or food if they get inside your home.

The Many Faces of The Denver Housing Market

As we head closer to the much-anticipated Spring Real Estate Market we are seeing a split view. Our client’s stories vary, on one hand they are seeing homes under 400K selling for less than asking price with lots of contract contingencies. The other hand in the luxury market (above 1 million) experiencing multiple CASH offers with no contract contingencies accepted (The stats say otherwise by the way: Homes under 1 million getting 100% of asking price and homes selling over 1 million getting 99.23% of asking price). In most cases these stats do not support what our active clients are seeing. We know you are getting mixed messages. Our best advice is that you can’t look at the market with a wide lens; you have to drill down to the specifics of each transaction to get a clear picture.

April Stats were Interesting

Active inventory was up, closed homes sales were down, average close price and average median close price were up month over month. Year over year we are down somewhere between 3%-6% in appreciation, a softening that is totally expected with the historical interest rate hikes we have seen this year. In addition, days on market are down big time again. April saw the lowest number of closed homes since 2011. It is also the first time since 2008 that closed home sales dropped from March to April.

April 2023 Housing Market Update

Active Inventory:  4,620 up 2.3%

Closed Sales: 3,701 down 7.91%

Average Close Price: $682,061 up 2.56%

Days On Market: 29 down 21.62% (This is another big drop)

(Stats Reflected here are MoM March to April)

Property Values Across the Denver Metro Area are Way Up

According to a recent Denver Post article written by Aldo Svaldi, homeowners across the state will need to set aside more money to cover their property taxes next year — significantly more money — based on the higher property values that county assessors have calculated and will notify them about early next month. Nine county assessors along the Front Range on Wednesday revealed the median increases in residential properties, which are valued on a two-year cycle in Colorado. The two-year increases are “historic” and “unprecedented” assessors said, ranging from 33% in Denver County to 47% in Douglas County. If you would like to read more of this article click here. To protest your home valuation call or visit your county’s website for directions on how to file your complaint. There are also companies that offer this service for a fee.

The Fed Funds Rate goes Higher

The Federal Reserve raised its fund rate by .25% today. Chairman Powell’s speech included different language than we have heard  since they began their historic hikes. He said, “what we need to focus on are the words maybe and some as opposed to ongoing”. He also repeated that we can count on the Fed doing what they need to do to get inflation down to 2 percent.

What can you Expect for the rest of 2023?

Expect the multifaceted market to continue throughout 2023. Our appreciation outlook is positive because of continuing inventory pressures. We predict you will see a small gain in year over year appreciation by the end of 2023. Mortgage rates will be higher in the short term and may begin to come down by the second half of the year. Thank you all again for supporting our businesses we are grateful.

Click Here to Reach Out

Data represents Attached and Detached Homes in the 7-county metro area. 

We would like to thank DMAR, Yahoo and The Denver Post for information and statistics used in crafting this article.

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ASKING PRICE: $314,900

BRIGHT AND OPEN FLOOR PLAN

Property Highlights

• 2 BR/2 BA (2 Primary Suites with Walk In Closets!)
• Cozy Gas Fireplace in the living room
• Large Living and Dining Rooms
• Detached Garage and a Permitted Open Parking Space 
• Washer and Dryer Stay
• Vaulted Ceilings
• Tons of Natural Light
• Front Porch to enjoy Sunset Skies

For More Information Contact Us Today!

Real Estate March Madness

A Busy March

If you thought the basketball version of March Madness was Mad hold on to your nets because it clearly bounced into the Real Estate Industry as well. Between Mortgage Rates, CPI, the Fed, lack of inventory and of course bank failures we were all over the place nationally and regionally last month. Active inventory is up, closed homes sales are up, average close price is up and days on market are down (see stats below for exact numbers). All of that speaks to a very active Metro Denver Real Estate market for the month of March. Last month’s pending homes sales climbed 22% and closed homes sales jumped 32% from February. We can’t fail to mention that part of March’s housing activity is also because of seasonality.

March 2023 Housing Market Update

Active Inventory:  4,516 up 19.53%

Closed Sales: 3,790 up 32.29%

Average Close Price: $665,390 up 1.44%

Days On Market: 37 up 22.92% (This is a big drop)

(Stats Reflected here are MoM February to March)

The Price is Right!

Homes which sold without a price reduction are out selling homes sold with a price reduction by 2 ¾ percent. When out showing, making offers and listing homes in this market condition and location are key. What we are seeing is homes that are in ready to sell condition, cleaned, well taken care of, yard work done and staged are selling for over ask with multiple offers no matter what the price point. Add to that a slightly below list price and you can count on a high scoring weekend regarding showing numbers and offers received.

Credit Tightening Coming Your Way?

This idea that credit tightening could bring on the recession and crush the housing market has been floating around for months. According to many sources credit tightening is mainly affecting Car, Commercial and Personal Loans. Several lenders confirm  that home loans are less restrictive now than they have been. The loosening of restrictions is part of this administration’s commitment to those people who have missed the opportunity to buy a home because of pricing and lending over the past couple of years.

Goldman Sachs and the 99%

On March 2^nd of this year Goldman Sachs was quoted in a Fortune article on Yahoo that 99% of all home loans nationally are under 6% or current market rates. They also stated that 28% of those are under 3%. The article says, “Think about it like this, if you took on a $600,000 mortgage and your rate is 7%, your monthly principal and interest payment would be $3,992. But with the same size loan and a rate of 3%, your monthly payment is slightly over $2,530 a month.” This mathematical equation equates to people not moving and this may influence our housing market for years to come.

Mr. Kinman

There is another story in this article about a gentleman that purchased his home in California at a 3.68% mortgage rate in 2016 and refinanced in 2021 to 2.42%. He’s splitting his time between California and Portland, Oregon, after getting a new job. Instead of losing his low rate that he’s locked into and selling his home, he’s renting an apartment in Portland and traveling between the two states for work—which he says is cheaper because of how reasonable his mortgage payments are.“I can’t afford to sell because I don’t want to lose that rate,” he told Fortune. “If I ever want to move back to California, it’s going to be impossible because I’ll never get a rate lower [than that]. So I am scared as hell to let go of the house at that rate, and I also can’t afford to buy in Portland because the pricing and the rates are too high.” If rates weren’t so high, he said, he’d sell the home and purchase in Portland.

Yet another reason and win for Investing in Real Estate. Across the board and over time real estate scores points.

Looking into the Spring Market

It appears that the spring market is beginning to show its colors not only in our gardens but in our housing market too. Mortgage rates are settling in, folks have grown used to them and inventory remains lighter than demand. Without change to inventory home prices will remain flat or will slightly rise over the next couple of months. What happens if the Fed stops raising rates and inflation starts to slow at a faster rate at the same time? More Madness for our housing market for sure. Thank you all again for supporting our businesses we are grateful.

Click Here to Reach Out

Data represents Attached and Detached Homes in the 7-county metro area. 

We would like to thank DMAR and Yahoo for information and statistics used in crafting this article.

Manifest an Early Spring by Sprucing up for It

Spring Cleaning Tips

Is there Stabilization in our Future?

We asked last month “Is this a Blip or Flip?” Well, the answer is: it’s looking like a Blip. Interest rates went into overdrive again and buyer applications for new mortgages visited a low not seen since 1995. The voracious activity we saw in January and early February has come to a halt thanks to interest rates going from high 5’s to 7% in 3 weeks’ time. Buyers and Sellers are looking for stability in economic data and we think that stability is in volatility, at least in terms of interest rates for the near term. Rates will fluctuate pending the inflation data that comes out monthly until that number begins to trend downward, month over month. Until we see that trend take hold the Denver real estate market will remain a little choppy. We will have months with more inventory and less buyers and months with more buyers with less inventory. Once we enter the late spring early summer selling season the hope is that the Market will begin to stabilize further because interest rates are predicted to come back down and stay there.

Home Prices Stabilizing?

Even with all this movement, we are seeing the housing market stabilize somewhat. Year over year home prices are starting to show some depreciation in certain areas, but month over month we are seeing prices moving higher (minimally) as well. Interest Rates are keeping prices from rocketing upward while the inventory shortage is keeping them from rocketing downward offering homeowners, sellers, and buyers some stability in the market. What we see in the actual market is that homes in great shape (ready for market) and in decent locations are selling quicker and for more money. Buyers are no longer tolerant at all of properties that are not prepared well for the market, taken care of, or priced inaccurately. Period.

February 2023 Housing Market Update

Active Inventory: 3,778 (↓) 8.30%

Closed Sales: 2,661 (­↑) 22.51%

Average Closed Price: $657,921 (­↑) 5.23%

Days on Market: 48 (­↑) 4.35%

(Stats reflected here are MoM January to February)

The numbers for last month are not a surprise to anyone in the market. Sellers, buyers, lenders, and agents were all in agreement that something had changed from October, November and December. Clearly that reprieve came from a drop in interest rates that stuck around for a couple of months. We want to add that the luxury market was moving extremely fast with many competitive offers. There did not seem to be a stronger area over another for those price points. We did see luxury inventory that had been sitting for months (more than several) disappear in a matter of weeks.

The See-Saw will Continue

The statistics for March when they come out will show a slower pace for sure at most price points. Even those buyer’s that have been approved are now struggling with lower inventory and higher rates again and have slowed their roll when submitting offers. The Real Estate Market see-saw will bring good and bad news over the next couple of months. We will keep working our way through it and keep you up to date on what we are experiencing day to day. What we do know is that predictions will be shot down, headlines will be sensationalized, and people will still need housing.

If you know anyone that is thinking of buying or selling a home, please keep us in mind. We love referrals and you have our word we will take great care and provide great service to them as we have to you!

Click Here to Reach Out

Data represents Attached and Detached Homes in the 7 county metro area.

We would like to thank DMAR for information and statistics used in crafting this article.

February 2023 Closed Homes

February 2023 Closed Homes

It was our pleasure to help these First Time Home Buyers find and purchase this beautiful home. They scooped it up for less than ask and got some cash back at closing to help with the move! The Walters Group is always happy to help you Buy, Sell or Invest in Real Estate~ please reach today to chat!

Denver Happenings March 2023

**Click on the Name of the Event for More Information**

Is this a “Blip” or a “Flip” for the Denver Housing Market?

January 23 Housing Market Update

It has been a whiplash kind of month in the Denver Metro Real Estate market. We went from homes sitting for 45 plus days since June of 2022 to stale listings getting re-listed and going Under Contract with multiple offers again. In September, October, and November of 2022 Buyers were asking and getting cash at closing to buy down rates, multiple inspection items repaired and the luxury of being the only buyer coming forward with an offer on a home. This trend continued through December of 2022 but after the first weekend in January the race was on for Buyers. The question all of us are asking on behalf of our buyers and sellers is, “Is this the beginning of a trend or just a seasonal collapse of new inventory combined with interest rates settling in and strong pent up buyer demand?”

I hate to say it again, but inventory continues to be the bear in the woods for our Market. January saw the smallest number of new listings (2,858) ever added in that month, the previous record was set in 2022 (3,3485). Active inventory at the end of January 2023 was 13% lower landing at 4,120 than the month before. Are we switching our hot selling season from the Spring and Summer to Fall and Winter? Is Q1 going to be the new hot time to sell your home? I don’t think we can come to that conclusion yet, but it might be worth looking at if it happens next year or if the market continues its cha-cha-cha through March of 2023. With almost 40% of all homes in Colorado owned out right and 86% of all mortgages held have a 5% or lower interest rate it is hard to see the inventory belt loosening soon.

January 2023 Insights:

(Stats Reflected here are MoM December to January)

Active Inventory:  4,120 down 13.9%

Closed Sales: 2,041 down 29.3% (This appears to us as an inventory crunch)

Average Close Price: $626, 311 down 1.49% (even though we are down this price is also a record high for the Month of January)

Days On Market: 46 up 6.98%

The first quarter of 2023 will have a cloud over head when compared to Q1 of 2022. We ended the year with median price growth of 12% all gained in the Q1 of 22. In January we saw a decline of price growth from December to January of 3.33%. We are guessing the pressure on sellers to sell their homes that had been sitting for too long brought about aggressive price reductions to get their homes finally sold. We will see this number climb or flatten when February stats come out in March. If inventory pops over the next couple of months to meet Buyer demand, you will see home prices soften. If those new listings don’t start appearing and interest rates come down further, we will see pricing stabilize and maybe start growing again.

The Fed raised the Fed rate again by .25% on February 1^st to 4.75%. He mentioned that we are seeing the pace of inflation slow but that we are not out of the woods yet. He still repeats that we need more evidence that the pace will continue to slow before he lifts his foot off the gas in terms of rate hikes. What differed this time was that if he saw the inflation rate dropping too quickly it may influence the feds to change course and possibly encourage them either slow or stop rate hikes. The other market segment that gives the Fed pause is the job market. That market continues to come in with historical numbers month over month. Wages are still increasing and those jobs that are being lost are being replaced almost immediately with new higher paying options.

In conclusion the market had some wins this past month not only locally but nationally. To say we needed some positive news about the housing market is an understatement. We are hopeful that we will see a more balanced market over the next couple of months. Sellers will get to sell at a reasonable rate in a more reasonable amount of time and Buyers will get to see and bid on homes without unreasonable pressures.

If you know anyone that is thinking of buying or selling a home, please keep us in mind. We love referrals and you have our word we will take great care and provide great service to them as we have to you!

Click Here to Reach Out

We would like to thank DMAR for information and statistics used in crafting this article

Denver Happenings in November

 
Denver Film Festival: November 2-13
The largest film festival in the Rocky Mountain region brings international cinema, filmmakers, virtual reality, immersive experiences and creative conversations to Colorado. Events will take place all over town.

Denver Arts Week: November 4-12
Celebrate The Mile High City’s arts and culture scene with hundreds of events around the city. Explore vibrant art districts, check out museum exhibitions and outdoor sculptures, indulge in the performing arts, be inspired at film and literary events, and even buy some art of your own!

Wine in the Pines: November 5
The Ability Connection Colorado, a non-profit organization that offers an assortment of opportunities for people with disabilities, sponsors this annual wine and food pairing. This year’s Wine In The Pines at Keystone Ranch and Keystone Conference Center

Denver Veterans Day Run: November 12
Back for its 14th year, the Denver Veterans Day Run, hosted by the Colorado Veterans Project, is both an in-person and virtual 5k and 10k event that directly benefits Colorado Vets. Registration varies for civilian and veteran runners and all results can be viewed on an online leaderboard.

Polar Express Train Ride: November 11- December
Ride to the North Pole aboard vintage coaches, pulled by an authentic, coal-fired steam locomotive. Visit with Santa and delight as he hands you “The First Gift of Christmas!” Always a sell-out, you’ll want to book early.

Denver Fashion Week: November 12-20
One of America’s fastest-growing fashion platforms is back again for fall 2022. Collections from local, national and international designers will range from streetwear, activewear, lifestyle, kids and sustainability to high fashion.

National Parks Free Day: November 11
Come experience the national parks! On five days in 2022, all National Park Service sites that charge an entrance fee will offer free admission to everyone.

Turkey Trot: November 24
The Mile High United Way Turkey Trot has been a Thanksgiving tradition since 1973, drawing nearly 9,000 people to Washington Park each year for a four-mile run/walk and community celebration. By participating in the Turkey Trot, you are joining Denver’s greatest Thanksgiving tradition AND giving back to your community!

September Denver Market Update

The Cooling Continues is our headline for the month! Mortgage rates landing around 7% after the Fed meeting really sealed the deal on a slowing of the housing market. What we are seeing in our local market is a more balanced housing market right now and even more balance coming our way. We have been without balance for an extended period and those of us in the housing business know that the only way for win-win transactions for both Buyers and Sellers is a balanced market. To get there, we are going to need more inventory and while that is beginning to come forward, we will need more.

September Insights

Active Inventory:

• Saw a MoM increase of almost 11% landing at 7,683 Units for sale
• Inventory typically drops as we head into the winter months

Average Home Prices

• Increased 2.2% even though actual sales were down
• We are still predicting that home values will be up for 2022 by years end

Days on Market

• Is up nearly 37% MoM. We are now at 26 days on average to move
• This tells the story of Sellers not quite realigned to new home prices

While our inventory numbers are up, we are still below by 26% where we were at during the same period in 2019. The average homes for sale at the end of the month since 1985 is 15,663 for September. Interestingly last year’s inventory increase (10.86%) from August to September matched these years (10.72%) almost exactly. What that means? Not sure.

The rental market is still strong, especially for properties that are well kept and updated. There is a cooling nationally in rent increases but getting tenants in place has not slowed down in the Denver Market.

We think “Not sure” is where we will end this month’s commentary. There is so much happening in the world, nationally and locally it is hard to pin down exactly where we are going. In speaking with a lender the other day, he said, “economic theory vs. supply and demand” is what we are waiting for to work their way out. Which one wins we will have to wait and see. You can be assured we are watching all the factors very closely and will keep sharing everything we learn right here!

If you would like to expand on this conversation, please reach out we are happy to answer questions and have a discussion anytime.

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