Real estate sales have decreased a bit nationally. At the same time, median prices are continuing to rise. What’s going on? When prices increase the number of people who can afford to buy starts to decrease. Could this trigger a bubble? If so, it’s not a big bubble and therefore not a big burst. If anything, it is the market correcting itself. Funny that we hear about a bubble, but the only likely thing to happen is a slight correction, bringing prices down a bit so more people can afford homes. Even if it’s not dramatic, investors need to be aware and plan for more days on market and possible price decreases. Be picky with your deals!
Commerce City makeover
Commerce City is out with the old greyhound race track and in with the new 62 acre residential/commercial development. The plans themselves look beautiful, but notice that it is surrounded by older neighborhoods. Those are the houses that are going to benefit from a rising tide of appreciation. Hmm, maybe a good place to invest in some rentals? Just something to consider!
QUOTE OF THE WEEK
“Keep your face always toward the sunshine – and the shadows will fall behind you.”
See you soon,