Popping in with my October 2016 Denver real estate market update (based on final numbers from October):
Now that the voting is over, my prediction is that the metro area’s real estate market in general will level off and even decline over the next four years. That’s what has typically happened with Republican presidencies.
Colorado’s market has been steady for a good long while, but I expect that with more states legalizing marijuana, we’ll see some numbers drop over the next six months but then level off.
The upshot? Simply that you need to have a long-term view of your real estate investment and know that you may have to hold onto your property for the next 5-8 years in order to make the types of profits we’ve seen over the last two years. In other words, real estate will continue to appreciate, but the pace may be slower than we’ve come to expect.
There will *always* be people who need to buy and people who need to sell. The key to making that successful even in an uncertain market is having an agent who is experienced and educated on pricing. I would be happy to help! Contact me at 303-204-6494 or send me an email.