The Double Comma Club

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Ivy Zelman’s Insights at the Fairway Economic and Housing Summit

Fairway Economic and Housing Summit - Ivy Zelman

This is only one session from the outstanding series of presentations during the Fairway Economic and Housing Summit on December 17. The full event featured presentations by the following. You can watch the replays on YouTube here:

Barry & Dan Habib
Dave Stevens 
Ivy Zelman
Chris Whalen
Rob Chrisman
Mike Fratantoni

Moderated by Nicole Rueth, Sarah Middleton, and Peter Beanland.

Follow along with this presentation from Ivy Zelman. (PDF)

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December 2020 Real Estate Tips Round Up

Real Estate Tips from Nicole Rueth - December 2020

Three tips here: Good Buy or Goodbye, Making Money in Your Sleep, and Interest Rates Aren't Why It's Time To Buy - Building Equity Is.

When someone asks, “Is this property a good buy?” Or  “Should I be saying goodbye and invest elsewhere?”  It’s not as easy as giving a quick yes or no. Most of the time there's not a straightforward answer because each person is starting from a different place have different long term or short term goals. So what is a great property for one isn't necessarily the best for someone else.

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Finding Your Niche Will Serve You and Your Clients Well

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"Our industry really has a need for professionals that use their platforms to take a stand for things and to help be change-makers in our community. I think the general public oftentimes looks at real estate, certainly in a city like Denver, a growing city where the prices have gone high, and there's people that can't afford to live in certain neighborhoods anymore and all of that." Nicole's guest is Ryan Belinak from Live Urban Real Estate. 

His two big takeaway points for agents are these, Be kind to yourself, especially those who are new in the industry. Also, don't be afraid to adapt and put yourself out there. We have all learned new skills this past year and have had to listen to our own voices on playbacks more often than we thought possible.

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Let your home help you make money in your sleep.

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With a positive highlight from this year being consistent low-interest rates, you may not realize how your home is working for you already. You may be making money in your sleep. And if you haven't purchased a home yet or refinanced the one you want to stay in, this is the time.  Align yourself with an experienced Realtor so they can help you realize your dream of owning real estate, or making more money in equity from the property you already own.

 

Supply Isn’t the Story, Demand Is.

Denver Market Area Report - The Rueth Team

DMAR’s December Market Trends Report was released this morning and provided numbers supporting what we already knew. Demand is strong! Inventory hit an all-time low of 3415 active listings at month-end. Compare this to the average active listings for November month-end of over 14,000 and a happier place of 6,000 units.  Sellers are exceeding the typical seasonal holiday slowdown of decreased supply. The added fears of job security, prospective buyers entering their homes, and finding a replacement home are adding to their resistance to sell. Potential Sellers are also starting to face what will become more widespread, something called rate lock where the appeal of staying in their current home with a lower rate and monthly payment will outweigh their desire to move. We will continue to see tenure increase from its current average of 10 years as well as homeowners holding onto their primary homes with low-interest rates and choose to convert them into rental properties.

Be a leader for your clients.

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Thank you for joining us for another agent talk This week I have Drew Morris, who I've got to know through DMARs Market Trends Committee. He jumped on just a little bit before I did about 2.5 years ago, and he's been a real estate agent for 7.5 years and I bring up the half because he claims it just like I claim my half an inch.

 

Drew Morris is with Your Castle Real Estate. I wanted to bring him on board because he has some of the same views I have and looking at real estate as a wealth-building opportunity and right now, having been through the most turbulent year I can personally remember and not being quite done yet. So how do we continue on our path to 2021 into 2022, 2023? How do we engage with our clients on a very personal level to continue to support their success in real estate?

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Financial Independence for Early Retirement through House Hacking

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Nicole's guest today is Zeona McEntyre. In this episode, they talk about house hacking to financial freedom. House hacking is the way that Zeona thought to be financially independent. And her role now is really just to help empower people, inspire people and get them excited about what's possible. People they think, "Oh yeah, financial independence or early retirement, that's for other people, that can't happen for me. Or if I'm going to do that, it's going to take me 15 years." But she did it in two years with house hacking. She also believes it's really doable in five and traditional people that are doing just financial independence with index funds, they do it in about 10. So it's almost about just knowing it's possible and then allowing yourself to have that.

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Don’t Be Afraid of No from Your Lender

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There's No Bubble to Burst
I keep hearing that people are waiting for the Denver market to cool down to buy or sell. But is that the best plan? Appreciation is at 6.9% year to date, which mean phenomenal growth for those who have purchased and opportunity for those just diving in. How do I know? Because three years ago I was sitting in my backyard saying nearly the same thing. The difference between now and then? Low interest rates.

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Buyers, Sellers, Agents, this is not the time to rest.

No rest for the agent, the buyer the seller

November’s DMAR report highlighting October data reflects just how important the home has become by producing nearly as many records as we saw in last month’s report. Now is not the time to sit on the sidelines in fear that the bubble will burst; it is the time to stay engaged. Finding the right home might be challenging, but waiting will only cost you more.

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Forbearance and Unemployment Numbers’ Effect on Denver Real Estate Market

Denver Market Updates

What do the current numbers tell us about the difference between delinquency and foreclosure? About values for the top 10% of home prices vs. the entry-level lower-priced homes? Some highlights to this episode include;

We have to make sure that we distinguish this for our clients because the delinquency rates are not foreclosures, they're forbearance. And those numbers of people that are going off on forbearance is growing. More people are coming off forbearance. When they're talking about the delinquency numbers are going up, they're watching that under 30 days, 30 to 60, over 90. That's increasing and that's the number that jumps out on the headlines. Realistically though, the number of mortgages and active forbearance is going down, because remember, we started this in that March and April timeframe. Really, April was the first month that people could skip their mortgage payment with the forbearance, the CARES Act. All of those people had up to 12 months that they could be on forbearance in a three-month cycle. Most servicers are offering it every three months and then at the end of three months, you can choose to extend it or you can come off of it.

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