Cooling trend coming our way
“Cooling” is a relative term. To use a weather analogy, our real estate market is dropping from 90 degrees to 80 degrees. That’s not a bad thing. Sure, if you banked on multiple offers over asking price, you may be nervous right now. However, if you have been reading our newsletter you were well prepared. The SFR median in Denver metro is now $430k (-1.2% YOY). Condo median is now $340k (-12.8 YOY). Keep in mind that most of the declines were in higher price point areas, while lower priced areas still saw price increases.
Opportunity Zones have potential
Potential is great, but there is no guarantee with O-zones. The new laws have the potential to create great wealth and revive struggling communities at the same time. AND, no tax payer money is involved. But here’s the thing: It still needs to make sense from a business perspective. The demographics have to serve the new enterprise or they won’t pick the location. Regardless, properties within O-zones will likely receive a little boost in value simply because of the potential. Check out the map to find an O-zone near you!
QUOTE OF THE WEEK
“IN EVERY ADVERSITY THERE LIES THE SEED OF AN
See you soon,