As market influences, our clients often ask us, “where is the market heading?” That question stems from a concern that the next recession will occur soon. The Denver apartment market’s expansion phase has lasted for 7 years resulting in amazing appreciation for multifamily owners.
In April 2016, our clients purchased a Capitol Hill building by putting 25% down, and financing 75% of the purchase price with a loan at 3.55% annual interest, fixed for 5 years. Oh those were the days!
Collaboration leads to exponential success in any business. Helen Keller famously said, “Alone we can do so little; together we can do so much.” It is with great pride and excitement that we officially announce the formation of the Johnson Piretti Team at Calibrate Real Estate.
We all have special people that come into our lives, and most of us have been around long enough to be faced with attending that person’s funeral ceremony. Saying goodbye. It is never easy, and everyone handles grief in their own way.
Encouraging news was published in late July within the Apartment Association of Metro Denver’s 2nd Quarter Vacancy & Rent Report. Drilling down further to the figures reported for buildings with less than 50 units (essentially removing the new construction) provides a clearer picture of how existing buildings are performing.
Higher interest rates are likely to persist through the remainder of 2018, so we should understand both the positive and negative affects this will have on the Denver apartment market. Let’s start with the good news…
Thoughts of where the market is heading are increasingly on our clients’ minds. Is the Denver rental market about peak? Without a clear answer, it’s helpful to look at the factors that determine the direction of the market.
The Denver Metropolitan Commercial Association of REALTORS® (DMCAR), in conjunction with the Denver Business Journal, honored its top commercial real estate producers of 2017. Greg Johnson and Kyle Malnati were awarded DMCAR’s #5 broker in the “Small Office” category.
Our very own Kyle Malnati was asked by the Colorado Association of Realtors to be the Moderator for the Gubernatorial Panel for Realtor Day at the Capitol! More details and photos of this exciting event here!
There was a pronounced increase in interest rates a year ago, and we seem to be facing another jump. For our clients, thoughts of a 5-year loan at 4.25% are starting to fade. Interest rates are on the rise again.