Property values, owner rights and Short vs Long Term Rentals
Denver Highrise living includes buildings favorable to short term rental (STR) rule changes in 2024. Mason Hayutin, REALTOR/Broker Associate of MASONmodern/Keller Williams provides insight to past experiences in Denver’s urban core.
Rates taking toll – except for the cash buyer
Interest rates over 7.25% have started to sideline buyers – except for those in immediate need of a specific neighborhood or community. Denver’s market remains competitive as supply is tight. Cash indeed has become the ideal for both buyer and seller.
Denver: Quick Sales for Well Located Homes
Denver’s supply is on par with the 10 year average. A balanced market would require at least 15000 homes vs. today’s 7000 available options. Located in Cherry Creek North, buyer’s have approximately 28 various options starting at $750,000.
Market Rate: The supply of homes is reflecting the Fed
Fed tightening puts a reality check on the speculating real estate buyer. Essential moves sustain the overall market. The skilled labor shortage remains the key challenge to the Fed’s success with inflation.