RE/MAX Alliance Broker Cynthia Parker Shares Her Thoughts on the Denver Housing Market!

RE/MAX Alliance broker Cynthia Parker of the Denver Central office recently sat down with Mike Landis of Channel 7 news to discuss the state of the local real estate market. According to Parker, contracts written in the Denver housing market in June/2011 were up 22.5% compared to June/2010.

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“This is the first full year that we haven’t had any artificial economic stimulus,” Parker said, referring positively to the increase in contracts written. “That is very, very important.”

For buyers considering getting into the market, Parker noted there is still significant inventory available and mortgage interest rates continue to be close to historic lows. For buyers who have experienced credit or financial issues in the past, Parker said there are financing programs available for those who have had problems. “Don’t be scared,” she said. “Be reasonable and come-back into the market before those interest rates rise.”

As market conditions shifted negatively over the course of the past few years, lenders tightened the purse strings. Parker said she sees that changing with her receiving information almost daily from lenders offering new financing programs. “Lenders aren’t as conservative as they once were,” she said.

Landis asked if appraisals have been a problem. “I ran into it a few years ago more than I do now,” Parker answered. “I think when property values were falling like a stone that was a concern. Not so much now.”

Parker says if you are considering getting into the market, do your homework first; be prepared. She suggests you collect all your financial information (W-2’s, pay stubs, etc.) and contact a good lender; someone who is familiar with this market and who is familiar with issues like problem credit, etc. those kinds of things.

As to stabilization of the local real estate market, Parker said in a sense she is in a state of equilibrium. “I’m halfway between Pollyanna and Chicken Little,” she said. “I would say sometime in 2012 I really see a true stabilization. I need to see more numbers like we saw in June.”

RE/MAX Alliance has twenty offices stretching from Northern Colorado, across the Boulder Valley and Metro Denver, into the foothills of Evergreen and Conifer, and south to Castle Rock. In 2011, RE/MAX Alliance was recognized as #1 in the world in agent count, with over 800 agents, and #2 in sales volume in the United States for all RE/MAX franchises. RE/MAX Alliance provides ancillary services for their clients and customers through Colorado Mortgage Alliance (a joint venture with Wells Fargo) and Alliance Insurance Services; providing a wide array of insurance packages.