Is Denver in a Housing Bubble?

The housing marketing in Denver is HOT, to say the least. The average price of a single-family home was well over a half a million at $522,000 in March 2018. But is Denver in a “Housing Bubble?” The simple answer is no.

While no one will argue that the Denver Metro housing market is outrageously expensive, it is, like all markets, subject to supply and demand. The market is not overinflated; there is simply more demand than inventory available. We need more houses being built and more sellers to list their homes to match the level of interest from home buyers. Even if the Denver Metro area levels off a bit in the next 4-6 years, with supply meeting demand more effectively, there still will be no “pop” or steep decline.

Watch the video on the right for more on the topic from Atlas Broker, Eddie Reynolds.

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#AtlasGivesBack Initiative Gains Momentum with Help from Community Partners

April 3, 2018
Sara Russell

Atlas’ men’s clothing drive benefitting the Denver Harbor Light Center saw an outpouring of donations. 483 pieces of clothing were given to the charity run by the Salvation Army, providing men recovering from addiction with much needed professional attire while seeking employment. A special thanks to our community partners for helping gather the donations:

This month, the Atlas team will be prepping and cooking a meal for the Denver Children’s Home. The DCH provides hope and healing to kids who have survived trauma, neglect and abuse as they confront serious mental health challenges. Eating a proper meal has the power to nourish the body, mind and soul at a level that is necessary for success of the individual. We are thrilled to be able to make even a small contribution to the wellbeing of Denver area children.

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DENVER METRO MARKET UPDATE: MARCH 2018

March 14, 2018
Sara Russell

February was a big month for Denver Metro’s real estate market, with average single family home prices topping a half million dollars at $502,986. In the Denver Metro market (including Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we also saw:

  • 2,927 total homes sold; down 2.82 percent from January
  • Average sold price in the single-family home market jumped to $502,986 (up 2.48 percent from January)
  • Median sold price in the single-family home market jumped to $435,000 (up 4.44 percent from January)
  • Average sold price in the condo market increased to $345,632 (down 0.21 percent from January)
  • Median sold price in the condo market increased to $296,000 (up 3.86 percent from January)
  • 4,084 active listings at the close of February, an increase in a month when we typically see a seasonal decline

Considering the median sold price in the area, what can you expect to get around Denver Metro for $400,000? As you can see from the sample listings below, what you get varies by area, so depending on your priorities you could get anything from a trendy condo near Coors Field to a good size family home in a hot North Metro community.

4695 Clay Street,  Denver CO, 80211 – $400,000
2 beds, 1 Full bath, 693 sq.ft.
Built in 1919

6761 E 114th Avenue, Thornton, CO 80233 – $400,000
3 beds, 2 1/2 bath, 2,859 sq. ft.
Built in 2005

4225 Prairie Drive, Brighton, CO 80601 – $399,900
4 beds, 2 3/4 baths, 3,074 sq. ft.
This home has not been built yet, which would allow you to choose your finishes and add your own personal touches throughout.

1929 Windemere Lane,  Erie CO, 80516 – $399,999
5 beds, 4 baths, 2,956 sq. ft.
Built in 2007

14744 E Crestridge Drive, Aurora, CO 80015 (Condo) – $398,008
2 Beds, 2 1/2 Baths, 1,842 sq. ft.
Built in 2017

1700 Bassett Street #313, Denver, CO 80202 (Condo) – $400,000
1 Bed, 1 Bath, 709 sq. ft.
Built in 2005

 

*Data sourced from Denver Metro Association of Realtors Market Trends Committee: https://www.dmarealtors.com/city-and-county-market-trends-reports-mar-18

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Nick Hodapp Advice Featured in US News Home Renovation Article

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Atlas Broker, Nick Hodapp, was recently featured in US News’ article, 7 Home Renovations to Consider for 2018.

At the top of the list:

1. Additional finished floor space. The hot housing market in Denver has translated to low inventory and a higher price per square foot for homes in the metro area, Hodapp says. Similar market conditions exist elsewhere in the country, too.

That means homeowners who might be selling soon should consider adding finished floor space to their homes. “Anything from finishing the [entire] basement to adding an egress window for a basement bedroom” will help boost the value of a home, Hodapp says. In Denver, that amount averages out to $341 per square foot, according to the real estate website Trulia.

Read the complete article to hear more from Nick and other experts on what renovations would provide the greatest benefit.

Read the Full Article Here

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Jason Shepherd Quoted in The Close Article about Bitcoin

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Comments from Atlas Co-Founder and Partner, Jason Shepherd, can be found in the latest article from The Close. “How to Explain Bitcoin to Your Clients without Sounding Like a Dinosaur,” addresses the basics of bitcoin in relation to the real estate industry.

Addressing the underlying technology and its impact on real estate, Shepherd says, “It is important to separate the cryptocurrency from the underlying blockchain technology when discussing real estate disruption…The disruption in real estate will come from the blockchain technology (distributed ledger) and smart contracts like those found on the Ethereum platform.”

Read the Full Article Here

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Atlas Encourages Total Wellbeing with Weekly Yoga Classes

Atlas Real Estate Group offers weekly yoga classes to encourage its employees, clients, and community to commit to total body wellness. Lead by Yogi Daniel Joseph Taylor, participants move fluidly through various poses, creating strength, awareness and harmony in both the mind and body.

Yoga offers numerous physical benefits including*:

  • Lessening chronic pain
  • Increased flexibility

  • Increased muscle strength and tone

  • Improved respiration, energy and vitality

  • Maintaining a balanced metabolism

  • Weight reduction

  • Cardio and circulatory health

  • Improved athletic performance

  • Protection from injury

In addition to a wealth of health benefits, yoga also contributes to mental health in positive ways. Regulating breath and meditating during yoga helps focus on the mind/body connection, lessening stress and strengthening mental clarity and calmness. Stress can manifest in different ways, from chronic pain like head and body aches to sleep problems, difficultly focusing and more. It is critical to have tools that can help eliminate stress and create a positive outlook.

Atlas recognizes these benefits as critical for success, both personally and professionally. Join our team each Wednesday at 12pm to regroup through yoga.

 

*The benefits of yoga can be found at: http://www.osteopathic.org/osteopathic-health/about-your-health/health-conditions-library/general-health/Pages/yoga.aspx

About Daniel

I was born and raised in Colorado, and have an extensive back ground in resistance strength training. I found love at first sight when practiced Yoga in November of 2015. The euphoric sensation of matching breathe with movement quickly became an addiction. Just two months later I was enrolled in a 200 hour Yoga Teacher Training and have not looked back since. By immersing myself in the yoga community I have begun to accomplish my BHAG (Big Hairy Ambitious Goals) and am on track to accomplish my 10 year vision to change the world.

My teaching ranges from Ashtanga and Power Vinyasa, and Yin yoga as well. By being light, loving, and judgement free I create an environment where my students can authentically be themselves. When attending my class you can expect a variety of grounded flows that will challenge you both mentally and physically. Using music as my tool I aim to influence my students towards a moving meditation to help connect inward.

I have found both physical and mental benefits through the cadence of breath and movement and love to share my passion with others. I’m grateful to be apart of such a strong community and hope to see you in my class soon!

Noon Entrepreneur Yoga

Every Wednesday at 12pm
The Attic at Atlas Real Estate Group
2345 7th Street
Denver, CO 80211

Cost: $10/Cash

What to Bring
Yoga mat
Water bottle

Class is open to women and men

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Ryan Boykin Highlights Reasons to Invest in Real Estate Versus Stocks in New Investopedia Article

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In his latest piece as contributing writer for Investopedia, Atlas Co-Founder and Owner Ryan Boykin discusses the reasons to invest in real estate versus stocks.

“Real estate investments offer an alternative to the stock market and under the right circumstances, they are lower risk, yield better returns and offer greater diversification. A decade ago, approximately two-thirds of American adults had money in the stock market but, due to the Great Recession, American’s sense of job security, financial confidence and their means to invest were threatened, taking a major toll on the willingness to invest…

Today, approximately 15% of Americans have invested in real estate outside of their primary residence. While more people own stocks or mutual funds, the reality is that 80% of stocks in the country are held by 10% of the population. Many advisors may find it useful to discuss the options of both the stock market and the real estate market with their clients who are ready to invest.”

Read the full article here

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Denver Metro Market Update: February 2018

February 14, 2018
Sara Russell

2018 has kicked off with a bang as home prices continue to climb and inventory hits historic lows. According to Steve Danyliw, Chairman of the DMAR Market Trends Committee and Denver REALTOR®, “housing inventory lows in metro Denver will not change until new listings significantly outpace under contracts. In January, homes under contract were almost the same number as new listings. This means that as fast as listings come on the market, they are placed under contract.”

In January 2018, in the Denver Metro market (Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties), we saw:

  • 2,736 total homes sold; down 36.22 percent from December 2017
  • Average sold price in the single-family home market jumped to $490,932 (up 1.44 percent from December 2017)
  • Median sold price in the single-family home market jumped to $385,203 (up 0.05 percent from December 2017)
  • Average sold price in the condo market increased to $354,613 (up 4.21 percent from December 2017)
  • Median sold price in the condo market increased to $285,000 (no change from December 2017)
  • 3,869 active listings at the close of January, a record setting low

The most active price segment for the single-family market continues to be $300,000 to $399,999, and $200,000 to $299,999 for condos.

*Data sourced from Denver Metro Association of Realtors Market Trends Committee: https://www.dmarealtors.com/dmar-real-estate-market-trends-report-feb-18 

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Men’s Clothing Drive Benefiting Denver Harbor Light Center Underway

The Atlas Real Estate Group team has started collecting men’s clothing donations for the Salvation Army’s Harbor Light Center. We are specifically asking for professional attire including suits, ties, dress slacks, button down shirts, dress shoes and jackets. All donations benefit men recovering from addiction who are seeking employment. Help us, help them put their best foot forward and make a great first impression.

We have a bin in the foyer of our office at 2345 7th Street, Denver 80211. We will be accepting clothing through the first week of March. Please stop by anytime between 8am and 5pm to drop off your gently used donations.

Thank you in advance for your generosity!

About the Harbor Light Center

The Harbor Light Center is a safe haven for men recovering from addiction or looking to prevent relapse. Every man that visits is given access to a variety of services such as intensive case management, family reunification, job readiness classes, life skills training, recreational activities, and transitional housing. Each year, the Harbor Light Center provide 25,240 nights of lodging and 72,985 meals. To learn more about their program, please visit their website.

Download the graphic and share on social media!

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Feeding More Than Bellies

 

January 31, 2018
Sara Russell

Members of the Atlas Real Estate Group team served 505 meals to hungry patrons of the Denver Rescue Mission‘s (DRM) Lawrence Shelter during last night’s dinner service, providing much needed sustenance for men effected by homelessness.

Atlas has worked with DRM before, and again is grateful to have had the opportunity to serve the community in a hands on and meaningful way. Whether we are filling water glasses, prepping food, serving food or cleaning up, it’s an honor to work together to provide for others who are experiencing challenges. Most of us have been through difficult times, times when we relied on others to help us get through, so it is important for us to ensure others have someone/somewhere to turn when they need help.

The Denver Rescue Mission holds a special place in the Denver community and the hearts of many of its residents, including the Atlas Real Estate Group team. It provides emergency services, rehabilitation, transitional programs and community outreach to people effected by homelessness, meeting people at their unique points of need. If you would like to get involved with them, please visit: https://serve.drmvolunteers.org.

 

The Atlas team consisted of Matthew, Michelle, Sarah G., Dave, Sara R., Rebekah and Jodi and Kelly from First Integrity Title Company.

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