Being intentional and doing things on purpose can have a massive impact on your life, and your business. It is easy to allow things to “just happen”, to be reactive instead of proactive. From hiring to training, following scripts, and even communication – being intentional and building habits will eventually transform into your passion.
The market is changing faster than the news can keep up. Things are changing day by day, and hour by hour. As we are living through these uncharted times, we all need an advisor – our guest this week is Patrick Langhans of Guild Mortgage, who is here to shed the light of clarity around mortgages and lending during this pandemic.
Six years after breaking the $100,000/unit price point, Central Denver apartments averaged over $204,000/unit in 2019. We calculate the average price per unit annually from Central Denver’s transactions between 10-100 units, excluding sales of recently constructed projects.
Searching for a Central Denver trendline within the past two years, we decided to research three 1960’s center hallway buildings sold by Calibrate Real Estate. Why?
Central Denver appears to be headed for another record year of apartment sales prices. To many observers it might seem that nearly everything is selling for $200,000+ per door; but are they really?
Denver’s apartment market has been on the rise for nearly a decade. That run has some investors worried that we are now “late in the cycle”, anticipating that an inevitable downturn is on the horizon. However, there are several reasons to believe that the market will continue to push ahead.
Encouraging news was published in late July within the Apartment Association of Metro Denver’s 2nd Quarter Vacancy & Rent Report.
Brace yourselves – – new property tax assessments will be mailed the first week of May. Every two years the Denver County Assessor’s Office sends out their new valuation notices to property owners. Once again, we expect assessments will be higher than two years ago for most apartment owners in Central Denver.
After six years of steady growth, in 2018 the Central Denver apartment market flattened out. Nearly 1,000 units were sold in 34 transactions, and the average price per unit was $182,938, a slight decrease from 2017’s average of $185,316.
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.