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.
Prices continue to climb in the Central Denver apartment market. The average sale price has surpassed $185,000/unit. Despite increases in vacancy and interest rates, prices continue to climb, could Supply vs Demand be the cause?
Calibrate Real Estate needs to add an amazing person to our team. We are looking for the ideal team player… you must be humble, hungry, and smart. We’re not looking for someone who just wants to get their foot in the door!
Almost every real estate listing can be distilled to three primary concerns for the Seller: price, time, and stress. The Seller of an apartment building at 9th Avenue and Washington Street presented Calibrate Real Estate with a challenge… “please find a no-drama, all-cash buyer and get this property sold in less than one month’s time!”
Calibrate hosted an exclusive Tax event earlier this year with the goal of educating Calibrate clients and creating a sense of community for apartment building owners. The “main event” for the evening was a detailed presentation by Denver County’s Assessor, Keith Erffmeyer, which included everything you need to know about property taxes.