Comments on: Are You Ready For 2009? https://perryandcoblog.com/2009/01/05/are-you-ready/ Denver Luxury Homes - Denver Real Estate - Perry & Co - (303) 399-7777 Wed, 20 Oct 2010 20:55:58 +0000 hourly 1 http://wordpress.com/ By: Brad Colburn https://perryandcoblog.com/2009/01/05/are-you-ready/#comment-58 Brad Colburn Thu, 08 Jan 2009 20:53:04 +0000 http://3033997777.com/?p=418#comment-58 My personal take on an influx of properties hitting the market as soon as things turn around depends on your definition of 'when the market has turned around', do you define that as prices going back up, time on market decreasing, or a 3 month absorption rate? I think the days on market is a good sign of when things will start to turn around as well as absorption rate. A healthy real estate market is a 3 month absorption rate, anything longer than that is a buyers market and anything shorter than that is a sellers market. I think that as the market begins to look better, we will definitely see inventory increase, however, I think that the price correction that we have witnessed the last couple of years ate up too much equity for a lot of people, especially those that purchased their home in the last 5 years or so. I also think that interest rates play a huge role in how quickly the market will recover. If they continue to hover around the 5-6% range, we will recover quicker than if they were higher. I also think that as Denver continues to add more jobs, our market will recover quicker than the rest of the nation. As always, good homes that are priced right will sell. The question is, do you have the equity to sell and accomplish your real estate objectives? <a href="http://www.perryandco.com/scripts/index.php?ss=agentPages&sc=details&a=viewListings&agentCurrID=174" rel="nofollow">Brad Colburn</a> Perry & Co. Cell: 303-618-0109 Direct: 303-370-5795 BColburn@perryandco.com My personal take on an influx of properties hitting the market as soon as things turn around depends on your definition of ‘when the market has turned around’, do you define that as prices going back up, time on market decreasing, or a 3 month absorption rate? I think the days on market is a good sign of when things will start to turn around as well as absorption rate. A healthy real estate market is a 3 month absorption rate, anything longer than that is a buyers market and anything shorter than that is a sellers market.

I think that as the market begins to look better, we will definitely see inventory increase, however, I think that the price correction that we have witnessed the last couple of years ate up too much equity for a lot of people, especially those that purchased their home in the last 5 years or so.

I also think that interest rates play a huge role in how quickly the market will recover. If they continue to hover around the 5-6% range, we will recover quicker than if they were higher. I also think that as Denver continues to add more jobs, our market will recover quicker than the rest of the nation.

As always, good homes that are priced right will sell. The question is, do you have the equity to sell and accomplish your real estate objectives?

Brad Colburn
Perry & Co.
Cell: 303-618-0109
Direct: 303-370-5795
BColburn@perryandco.com

]]> By: Nick Heffley https://perryandcoblog.com/2009/01/05/are-you-ready/#comment-57 Nick Heffley Thu, 08 Jan 2009 17:50:02 +0000 http://3033997777.com/?p=418#comment-57 It seems that there are quite a lot of sellers that have been waiting for the denver real estate market to turn around before putting their home on the market. What is your take on how the market will react to an influx of properties if the market turns? It seems that there are quite a lot of sellers that have been waiting for the denver real estate market to turn around before putting their home on the market. What is your take on how the market will react to an influx of properties if the market turns?

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