DMAR Digest | Week of November 2
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26 Days of Membership: How to Participate
We are celebrating November, the month of gratitude, with a giveaway to highlight what we are grateful for and give thanks where thanks is due.
Each day starting November 1 leading up to Thanksgiving, we will share one thing we are grateful for on our Facebook and Instagram pages using the hashtag #DMARthanks. At the end of each week, we will give away a prize to one lucky member. To enter into the weekly drawings all you have to do is like the post AND leave a comment and/or share these posts. Each action will count as one entry, so leaving a comment and sharing the post will count as two entries on that post. We will select a winner each Thursday in November and announce the winner by tagging them on a Facebook and Instagram post.
Good luck and remember, the more you engage with our posts, the better your chances of winning.
Quote of the week
"Reacting in anger or annoyance will not advance one's ability to persuade."
Ruth Bader Ginsburg, Former Associate Justice of the Supreme Court of the United States
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COVID-19 Update and New Tools [from DORA]
As we enter the colder months, the current trends in COVID-19 cases and hospitalizations are becoming unsustainable and very concerning. Models estimate that about 1 in every 200 Coloradans is currently contagious with COVID-19. If these trends continue, we will exceed April hospitalization numbers -- the peak of our first wave -- early next month. Read More
Housing Affordability Inches Down, Despite Record-Low Mortgage Rates
Despite hovering around their all-time low for several months now, it looks like mortgage rates have done about all they can for housing affordability. According to a new report, skyrocketing home prices have now outstripped their power, and overall homebuying affordability is now moving downward. Read More
Luxury housing market inspires ‘total frenzy’ in vacation boom towns
Over where the weather is colder, Steven Shane, a Compass real estate agent in Aspen, Colorado, said that buyers are coming from all over Texas, Florida, New York and California. Shane said that schools in Aspen have increased their enrollment, as families are putting their roots down where they can have more space. Read More
COVID-19 could boost interest in smaller cities' real estate: ULI
The coronavirus has taken a major toll on some of the biggest cities in the United States, which have had to deal with enormous budget shortfalls, cratering transit ridership, thousands of people left unemployed and a struggling small business scene. While that damage has not been confined to the largest metro areas, ULI said smaller cities and more suburban areas have become more attractive, especially as the shift to remote work and tech jobs have expanded beyond traditional powerhouses like Silicon Valley. Read More
Denver landmark designation controversy ends as neighbors pull application for Carmen Court building
Carmen Court, a 95-year-old Spanish and Pueblo revival style-influenced condo building in Denver’s Speer neighborhood, is no longer up for consideration as a city landmark, city officials said Monday. Three neighborhood residents who filed an application with the city to see the building at 900 E. First Ave. designated historic and protected from demolition withdrew their application last week, said Katie Sisk, who owns one of the six condos in the yellow-tinted building. Read More
Ex-Zillow execs raise $40M in seed round for mysterious digital mortgage startup
Tomo Networks, a Connecticut-based digital mortgage startup, just picked up $40 million in a seed round as it mobilizes to build a compelling product in an increasingly crowded market. Founded by ex-Zillow executives Carey Armstrong and Greg Schwartz, Tomo says it will offer a platform to streamline homebuying for both the consumer and their real estate agent. Read More
How Covid-19 has impacted Denver's construction industry
"I hope it sounds complicated, because it's damn complicated." Michael Gifford pauses, having just rattled off a lengthy list of the day-to-day questions that general contractors are confronting in the wake of the coronavirus. Read More
How 2020 broke the housing market: So many homes are selling that we could run out of new houses in months
A shocking volume of homes are selling rapidly, according to recent data. The National Association of REALTORS® (NAR) released a report in late September finding that existing home sales had hit a 14-year high in August. In fact, Bloomberg reported just days later that if homes continue to sell at that rate, the US would run out of new homes inventory in just over three months, the shortest such time frame in records dating all the way back to 1963. Read More
COVID-19 is Driving the Housing Inventory Crisis in Unexpected Ways
"Potential sellers are likely correct that home prices have yet to reach their peak, but in the long run prices tend to rise, so there's no clear 'right time' to sell," says Zillow senior economist Jeff Tucker. "Homeowners who feel life is uncertain right now may think they can still get a strong price if they delay selling until they have more clarity. The catch is that waiting to sell may raise the cost of a trade-up. This fall's record low mortgage rates, which make a trade-up more affordable on a monthly basis, are not guaranteed to last." Read More
We're still here for you
If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email help@dmarealtors.com.
Virtual Connect Meetings
Join us on the second and fourth Thursday of every month for a DMAR-Wide Virtual Connect Meeting. No matter which District you belong to everyone is invited to join us and connect. View Calendar
Online REALTOR® Store
We are now offering contactless pick-up (by appointment only) for all REALTOR® Store purchases. Please view our inventory online and then call one of our four locations to place an order. We will take payment over the phone and schedule a time for you to pick-up your order. Learn More
Industry Partner Spotlight
Rob Hall: Pillar to Post - Scott Lunsford Team
Our aim is to provide the highest quality home inspection services available in the Denver Metro area along with the best client experience. Our qualified and experienced home inspectors have completed tens of thousands of inspections. Our team includes a licensed roofer, an experienced stucco installer and experienced contractors in the construction and renovation fields. We also provide in-house sewer scope services, radon testing, mold testing and water quality testing. Reach out to us for all of your home inspection needs today.
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