DMAR Participates in Its First-Ever Live Facebook Chat

On September 9, 2015 from 11:30am to 12:30pm DMAR members Anthony Rael and Justin Knoll represented the association in a live Facebook Chat hosted by 9News.  

9News posted on their page asking people to share their questions on the rising home and rental prices around the metro area.  During the one-hour chat, industry experts - including DMAR's Rael and Knoll - weighed-in and answered questions people had submitted on topics such as affordable housing, rents, and general real estate inquiries. 

Highlights from the Chat

Justin Knoll | Madison and Company Properties

"Interest rates are always one of the biggest drivers of consumer behavior and market trends. We are always analyzing the effect that rates play on affordability and purchase power for buyers. When rates increase by 1% a buyer can lose up to 10% of that buying power, which is an obvious concern. We have to brace them for that possibility and help them make decisions quickly and safely. The bigger question is, what is a normal rate anymore? If there is one thing we know, normal has changed forever. I think it is a safe assumption that 3-4% is not something that will be enjoyed in perpetuity but where will it go? There is always a possibility that prices will flatten and decrease if demand out paces supply, which again could be driven by interest rates. It will be interesting to see what happens during an election year ahead."

Anthony Rael | RE/MAX Alliance

"Buyer demand for housing is as strong as it's ever been, interest rates are at historic lows and Denver's unemployment rate is one of the lowest in the country. While it's fair to say prices have been pushed upwards more rapidly due to lack of inventory the past 18 months or so, we're not suddenly going to have a glut of listings coming on the market so simple economics will continue to play out (low supply + high demand = +$)."

Did you Miss the Chat?

No worries, you can check out all the questions and answers HERE.