Welcome to 2012:

Our team at Find My Home Denver would like to extend a warm welcome for the New Year and thank you for your past support and business. Because of your patronage, 2011 was a record breaking year for our team and we look forward to another great year in Denver Real Estate. It is because of our relationships with you that this business is enjoyable.  We cherish the interactions that we are entrusted with each year to accomplish your real estate plans, strategies and success.

The biggest overall trend we saw in the 2011 Denver housing market was declining home inventory.  This is a very good sign for price stability, which adds hope to future price appreciation.  However, limited inventory has caused issues for home buyers, as they have been accustomed to a broad range of home options.

My neighborhood near City Park, specifically named Whittier, had nearly its entire housing inventory sell in 2011. Those buyers looking for the popular Denver square architecture had a very limited selection.  Almost every Denver square sold in the price point under $400,000 leaving some home owners in a predicament that has not been seen since the early 2000s. Home sellers who had found a buyer for their home were sometimes forced to rent while they waited for a suitable replacement home to come on the market.  Many Denver neighborhoods and sub areas experienced a similar trend and one that we expect to continue into 2012.

Another important overall housing trend in 2012 was the falling interest rates. I am surprised I can say that as the previous few years offered the same, but 2012 saw the 30 year interest rate occasionally dip into the high 3’s.  This creates an amazing opportunity for households to lower their outgoing housing liability and has added to the falling inventory by allowing home owners to refinance and stay put. One big complaint I hear from Denver home buyers is the fact that our market has not depreciated as much as the rest of the country.  Hence, the opportunities to buy are not as great.  I like to bring up interest rates and help explain how rates dropping from 5% to 4% equate to a 20% discount in monthly mortgage payment.  As a quick footnote to this mortgage trend; qualifying for loans has continued to be difficult.  As a result, this has choked the housing recovery, yet is a necessary evil if the housing recovery is going to be healthy and sustained.

We look forward to working with you in 2012.  Please reach out to us and let us know how we can help with any of your Denver real estate and housing needs.  With another year quickly gone by it becomes more and more apparent that life is short and the most important “things” you can have/share are relationships.  It is our goal at Find My Home Denver to soak in the time we share with you in 2012 and listen to what is important to your Denver real estate needs.

Thank you again for all your support.

Sincerely,

Drew Armbruster, Andrew Darlington and the Find My Home Denver Team

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