Colorado New Home Construction Trends and Recommendations
Nicole's guest is redT Homes CEO, Nathan Adams. He brings a unique perspective to the real estate market in the Denver Metro area because his firm's sweet spot is new construction. First, they covered the growing popularity of townhomes over condos because of shared spaces, including elevators. A townhome is your own germs, your front door is your own.
Closings for his firm have gone way up to give them their best month in the 15-year history of their company.
He credits part of this to his firm's ability to track the hidden inventory. When new condos and townhomes and homes are built, they don't release all of them at once to the market. They trickle them out in phases.
Because rates continue to be lower, we will continue to see people able to afford 10% more in housing prices than they were before.
He says they are looking into meeting the new needs of home buyers. They are looking for a home with private space - an office, even 6 x 6 to give them a door, privacy for when they work from home. They are looking for a property where they can build 800 - 1400 square foot 2 bedroom homes that still have one or two-car garage, high-end appliances, counters, smart home features, and that private space.
He recommends that agents keep up on zoning changes in your area to know what's coming soon, and perhaps a couple of years down the road.
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Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com