DMAR Digest | Week of February 7
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DMAR Membership Meeting + FREE 2 CE Credit Virtual Class
Calling all DMAR members!
You're invited to attend a FREE member-only virtual class + membership meeting on February 24th. This is your chance to get your legal questions answered by Scott Peterson, General Counsel for the Colorado Association of Realtors®, who will be teaching 10 Things for Realtors®: Legal Topics. He'll cover legal issues currently impacting real estate licensees as well as risk management considerations. Don't miss this opportunity to learn how to protect yourself and your business and earn 2 FREE CE credits.
We'll also be joined by DMAR leadership to discuss and vote on proposed amendments to the DMAR bylaws including those related to Diversity, Equity and Inclusion (DEI) in 2022 and beyond.
Quote of the week
"I am not a product of my circumstances. I am a product of my decisions."
Stephen Covey, American educator, author and businessman
Skim this
Five Things Realtors® Can Do for Black History Month
February is Black History Month, which is why now is the perfect time to talk about how we as real estate professionals can help fight racial injustice and support the Black community. It may sometimes seem impossible for one individual to make a meaningful change, but as Realtors® you are leaders in your community and that’s where change starts. Here are five things Realtors® can do to support the Black community. Read More
Black mortgage applicants denied at higher rates in Colorado
What they're saying: "Student loans, debt-to-income ratio, a lack of cash reserves and low credit scores" are the leading factors preventing Black residents from homeownership, Milford Adams, board chair of the Denver Metro Association of Realtors®, tells Axios. Read More
Competition for homes in Colorado was fierce even before a wildfire destroyed 1,000 houses near Boulder. A burned-down lot listed for $350,000 shows how strong the market still is — despite the climate risks.
Owners in neighborhoods like Sagamore that were decimated by the fire will have to weigh the cost of rebuilding against the challenge of trying to compete in today's frenzied real-estate market, Brigette Modglin, another broker associate at Kentwood Real Estate, said. Read More
Colorado landlords fared the best in the U.S. in collecting rents during pandemic
“In 2020, we saw Colorado landlords receiving the most full rent payments compared to other states. In 2021, that trend continued, which may point to several factors including, that in Colorado, renters prioritized rent payments, landlords were more likely to work with struggling tenants, and rent relief was better utilized and distributed by the state,” said Seamus Nally, CEO of TurboTenant, a rental software provider based in Fort Collins. Read More
Denver releases new version of income-restricted housing mandate
If a new proposal passes, a developer building an apartment complex in downtown Denver would need to reserve between 10 and 15 percent of the units for those making less than the area median income. If they didn’t, for each of the missing units, the developer would have to pay a “fee-in-lieu” of $311,000. Read More
A record number of Coloradans are pursuing conservation easements as land, water prices increase
The increased incentive for landowners has pushed many of them into action, said Rob Bleiberg, the director of the Colorado West Land Trust, which holds about 500 conservation easements protecting 126,000 acres in Delta, Gunnison, Mesa, Montrose, Ouray and San Miguel counties. He’s seeing about twice the number of landowners ready to protect their land. Read More
Condo Builds Near Record Lows
While the multifamily construction market has surged over the past year, the condo market has not been part of it. The share of condo units being built for sale over the last year was less than 5.4%—nearly the lowest level in half a century, according to a new report from the Urban Institute. Read More
Pandemic pushed Colorado home prices to record highs, listings to record lows — especially in high country
From ritzy resort chalets to the tract homes running along the Front Range, the pandemic has transformed housing markets across Colorado, pushing prices up to record highs and the supply of listings down to record lows — not exactly the outcome expected from the worst disease outbreak to hit the globe in a century. Read More
Denver-area homes are worth a combined $400 billion more than they were a decade ago
Locally, the trend is expected to continue into the rest of the year. Andrew Abrams, a Realtor® and chair of the market trends committee for the Denver Metro Association of Realtors®, told Denver Business Journal earlier this year that he expects appreciation to continue in 2022, although he anticipates it will be somewhere between 5% and 15%. Read More
Will Mortgage Rates Break 4% in 2022? | Guest Post
Interest rates have been on a downward trend since 1981 when the 30-year mortgage hit 18.5 percent. Three years ago, they were almost 5 percent. Then, in 2021 they jumped from 2.625 to 3.25 percent and kicked off in 2022, climbing from 3.25 to 3.5 percent. Are you smiling a little when I say “jumped” and “climbing” with rates in the low to mid 3’s? You are if you bought your first house in the 80s, 90s or even 2000s. Read More
Resources & services
DMAR Real Estate Market Trends Report | FEB. '22
While traditionally the market sees a 70 percent increase in new listings from December to January, the market ended down 17.77 percent in new listings compared to 2021, a 31.04 increase from the previous month. Likewise, the market ended with month-end active listings at a historic low of 1,184. To put into context, that is over 10 times less inventory than normal. Read More
[INFOGRAPHIC] Market Trends Overview | FEB. '22
Download the February Market Trends Report infographic. This is a great resource to share with your clients and colleagues on social media, your website or via email or even print. Read More
Digging Deeper: January 2022 Records
January 2022 was yet another record-breaking month. In this report, the DMAR Market Trends Committee examined the various records broken in this month. Read More
DMAR Staff is Here to Help
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.
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