Comments on: Except for luxury homes, Denver's housing market is robust http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/ Colorado's Real Estate News Source Wed, 23 May 2012 12:14:39 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: DANIELE http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-436 DANIELE Fri, 19 Feb 2010 15:36:01 +0000 http://insiderealestatenews.com/?p=3333#comment-436 Thank you for all the detail! Yet one more nice way of seeing things, which is why My spouse and I arrive to all your weblog generally.. Thank you for all the detail! Yet one more nice way of seeing things, which is why My spouse and I arrive to all your weblog generally..

]]> By: Steve Holben http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-435 Steve Holben Sun, 24 Jan 2010 19:54:16 +0000 http://insiderealestatenews.com/?p=3333#comment-435 As a builder /broker since 1977 I find the vast majority of brokers don't learn the products they are trying to sell, and have adopted a one price fits all mentality. This is particularly underserving the public in the area popularly termed "luxury" homes as in that market each home is different. I've tried for 33 years to let brokers showing my homes let me be at the showing...and I've never had any broker accept. The other big shortcoming I see is the use of distressed sales as comps.. Simple logic would tell one that just because one homeowner or builder had trouble doesn't mean the rest of the homes in the same market are worth less too, yet I can't tell you how many times I see this done. As amember of HBA I talk to a lot of other builders, and the universal opinion is that their products are underserved by the brokerage commuity. As a builder /broker since 1977 I find the vast majority of brokers don't learn the products they are trying to sell, and have adopted a one price fits all mentality. This is particularly underserving the public in the area popularly termed "luxury" homes as in that market each home is different. I've tried for 33 years to let brokers showing my homes let me be at the showing…and I've never had any broker accept. The other big shortcoming I see is the use of distressed sales as comps.. Simple logic would tell one that just because one homeowner or builder had trouble doesn't mean the rest of the homes in the same market are worth less too, yet I can't tell you how many times I see this done. As amember of HBA I talk to a lot of other builders, and the universal opinion is that their products are underserved by the brokerage commuity.

]]> By: Tweets that mention Denver housing market robust, excluding luxury homes | InsideRealEstateNews.com -- Topsy.com http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-434 Tweets that mention Denver housing market robust, excluding luxury homes | InsideRealEstateNews.com -- Topsy.com Fri, 22 Jan 2010 22:50:20 +0000 http://insiderealestatenews.com/?p=3333#comment-434 [...] This post was mentioned on Twitter by Todd Holmes, Realtor, Bruce Swedal. Bruce Swedal said: Except for luxury homes, Denver’s housing market is robust: The only thing hurting the Denver housing mar.. http://bit.ly/5alghS [...] [...] This post was mentioned on Twitter by Todd Holmes, Realtor, Bruce Swedal. Bruce Swedal said: Except for luxury homes, Denver’s housing market is robust: The only thing hurting the Denver housing mar.. http://bit.ly/5alghS [...]

]]> By: JohnRebchook http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-433 JohnRebchook Fri, 22 Jan 2010 17:23:22 +0000 http://insiderealestatenews.com/?p=3333#comment-433 I'm not taking a position. I try to report the news as objectively as possible. I welcome input from all points of views. I think you raise valid issues. And I do think there is a shadow market The question is how big is it, what will the impact be, and when will we see the repercussions. My observation covering business for more than 25 years at the Rocky Mountain News is that a strong economy ultimately is what is needed to right a bad market. It is amazing how the slate of bad decisions made by consumers, lenders and businesses can be wiped clean if there are more jobs and more demand for housing. Thanks for writing. I appreciate your thoughtful comments and suggestions. John I'm not taking a position. I try to report the news as objectively as possible. I welcome input from all points of views.
I think you raise valid issues. And I do think there is a shadow market The question is how big is it, what will the impact be, and when will we see the repercussions. My observation covering business for more than 25 years at the Rocky Mountain News is that a strong economy ultimately is what is needed to right a bad market. It is amazing how the slate of bad decisions made by consumers, lenders and businesses can be wiped clean if there are more jobs and more demand for housing. Thanks for writing. I appreciate your thoughtful comments and suggestions.
John

]]> By: Except for luxury homes, Denver’s housing market is robust « Denver Real Estate by Julie Reddington 720 226 4168 julie@keymastersrealestate.com http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-432 Except for luxury homes, Denver’s housing market is robust « Denver Real Estate by Julie Reddington 720 226 4168 julie@keymastersrealestate.com Fri, 22 Jan 2010 16:23:29 +0000 http://insiderealestatenews.com/?p=3333#comment-432 [...] http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/ 39.558244 -104.990933 [...] [...] http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/ 39.558244 -104.990933 [...]

]]> By: naoyasper http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-431 naoyasper Fri, 22 Jan 2010 01:45:10 +0000 http://insiderealestatenews.com/?p=3333#comment-431 Thanks for your posts. I've been enjoying reading them. But I have a question that I would really like you to address: Do you think that the Denver market truly is stable or are we waiting just waiting for the other proverbial shoe to drop? My concern derives from the wide use of "creative" financing in the Denver area. For example in this 2005 NY Times article: <a href="http://www.nytimes.com/2005/07/17/national/17denver.html" target="_blank" rel="nofollow">http://www.nytimes.com/2005/07/17/national/17denv...</a> includes this observation in the final paragraphs: "In fact, analysts say the Denver market has remained as healthy as it has because of low mortgage rates as well as creative financing, including no-money-down and interest-only loans. Interest-only loans have accounted for a high rate - 42 percent - of purchase loans over $360,000 in Denver this year, according to LoanPerformance, a mortgage data firm." Also in the report "Understanding Mortgage Foreclosures in Denver" published by the Denver office of economic development (and available at .<a href="http://www.milehigh.com/newsdata/Studies)" target="_blank" rel="nofollow">http://www.milehigh.com/newsdata/Studies)</a> indicates that a significant number of home buyers in the last 5 to 7 years have used "alternative" mortgages to purchase their homes. With the reset schedule for Option Arms and Alt-A option Arms rapidly approaching (see <a href="http://www.calculatedriskblog.com/2010/01/option-arm-recast-update.html)" target="_blank" rel="nofollow">http://www.calculatedriskblog.com/2010/01/option-...</a> I am truly concerned that this idea that "there was no bubble in Denver" may not be true--Maybe we didn't have a bubble, but instead the wide availability of credit merely kept prices from crashing after the recession of 2001-2002. You are connected in this industry. If you have access to the number of loans that were made from 2004-2007, the types of loans, how many have already defaulted etc. it would be very valuable to your readers if you could publish them. And if you do believe that there is no shadow inventory etc, or a second wave of foreclosures (a la the report from Amherst securities that you blogged about a while back) then defend your position, and say why you think that the market is stable. Thanks for your posts. I've been enjoying reading them. But I have a question that I would really like you to address: Do you think that the Denver market truly is stable or are we waiting just waiting for the other proverbial shoe to drop? My concern derives from the wide use of "creative" financing in the Denver area. For example in this 2005 NY Times article: http://www.nytimes.com/2005/07/17/national/17denv… includes this observation in the final paragraphs:

"In fact, analysts say the Denver market has remained as healthy as it has because of low mortgage rates as well as creative financing, including no-money-down and interest-only loans. Interest-only loans have accounted for a high rate – 42 percent – of purchase loans over $360,000 in Denver this year, according to LoanPerformance, a mortgage data firm."

Also in the report "Understanding Mortgage Foreclosures in Denver" published by the Denver office of economic development (and available at .http://www.milehigh.com/newsdata/Studies) indicates that a significant number of home buyers in the last 5 to 7 years have used "alternative" mortgages to purchase their homes. With the reset schedule for Option Arms and Alt-A option Arms rapidly approaching (see http://www.calculatedriskblog.com/2010/01/option-… I am truly concerned that this idea that "there was no bubble in Denver" may not be true–Maybe we didn't have a bubble, but instead the wide availability of credit merely kept prices from crashing after the recession of 2001-2002. You are connected in this industry. If you have access to the number of loans that were made from 2004-2007, the types of loans, how many have already defaulted etc. it would be very valuable to your readers if you could publish them. And if you do believe that there is no shadow inventory etc, or a second wave of foreclosures (a la the report from Amherst securities that you blogged about a while back) then defend your position, and say why you think that the market is stable.

]]> By: Denver housing market falls little from peak | InsideRealEstateNews.com http://insiderealestatenews.com/2010/01/except-for-luxury-homes-denvers-housing-market-is-robust/comment-page-1/#comment-430 Denver housing market falls little from peak | InsideRealEstateNews.com Thu, 21 Jan 2010 21:53:39 +0000 http://insiderealestatenews.com/?p=3333#comment-430 [...] « Dee featured in Husted’s Bar & Grilled Except for luxury homes, Denver’s housing market is robust [...] [...] « Dee featured in Husted’s Bar & Grilled Except for luxury homes, Denver’s housing market is robust [...]

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