DESCRIPTION: Every real estate agent is facing serious questions and concerns from consumers about the health of the Denver real estate market. Questions
DESCRIPTION: Every real estate agent is facing serious questions and concerns from consumers about the health of the Denver real estate market. Questions such as:
- Is the Denver real estate market in a bubble?
- Will our real estate market crash again like it did in 2007 and 2008?
- How much higher will prices rise?
- Why are prices rising so fast?
- Should we wait to buy until after the market cools off?
- When will this crazy market change back to normal?
In this class we will answer these questions and concerns from consumers in several ways—
- By defining what is a bubble?
- Why many people believe we have a bubble today and are they wrong?
- A look back to our real estate and mortgage markets from the early 2000’s and how we created a bubble back then.
- A review of the 3 primary factors that drive demand for housing and the 3 secondary factors that are driving demand for housing.
- We review the long-term drop in existing home inventory and what is causing this big drop.
- Why the supply of new homes for sale has shrank by over 50% in the last 10 years.
- How government regulation is making the supply of new homes for sale far worse.
- Review of the Law of Supply and Demand and how 1 or more factors on both sides need to change for us to have a balanced market.
- Should Millennials buy a traditional “starter” home or wait to buy a “trophy” home?
- A long-term look at home price appreciation in Denver which will give consumers a new perspective on our recent price increases.
- Ending with what could go wrong or could 2008 happen again?
- A final review of the Price-Rent Ratio that I have used since 2011 with consumers.
INSTRUCTOR: Lonnie Glessner
Lonnie holds a B.S. in Accounting from Central Washington University, and was an Accountant for 2 years, banker for 9 years and a Mortgage Consultant for 9 years. One he became a personal real estate investor, he has helped many clients build their wealth by investing in real estate. Lonnie also holds securities and life insurance licenses with Jefferson Pilot Securities.
FREE for SMDRA Members
$20 for All Others
CE CREDITS: 2
Refreshments Provided By SMDRA Affiliate Business Partner:
Susan Rivas with Blue Ribbon Home Warranty
(Tuesday) 9:00 am - 11:00 am MST
South Metro Denver REALTOR® Association
6436 South Racine Circle