RE/MAX Professionals
TOWNSHIP AT DAKOTA
10111 Inverness Main Street, Suite P, Englewood, CO, 80112
DANIEL M. HILTY
DANIEL M. HILTY
REALTOR®, MCNE, NAR, DMAR Direct (720) 256-4703 Office (303) 799-9898 Daniel@DMHHomes.com TownshipAtDakotaLifestyle.com
Making Your Denver Lifestyle a Reality TownshipAtDakotaLifestyle.com
www.TownshipAtDakotaLifestyle.com
COMPARING 2020 TO 2008
ARE THEY DIFFERENT?
COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market.
PREPARED ESPECIALLY FOR Jonathan and Angela-Marie Williams
11.4% 8.6%
8.5%
8.7%
6.5% 4.4%
The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.
Total Home Equity Cashed Out by Refinance in Billions Source: Freddie Mac
Source: Black Knight
12.5%
In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash.
Then...
Real Estate Market Report September 2020
Annual Home Price Appreciation
Inventory and Appreciation
Now...
Year
Dollars
Year
Dollars
2005
$263B
2017
$71B
2006
$321B
2018
$87B
2007
$240B
2019
$89B
Total
$824B
Total
$247B
5.2%
5.5%
6.4% 4.8%
4.7%
The 6 Years Leading up to the Housing Crash
The Last 6 Years
2000 2001 2002 2003 2004 2005
2014 2015 2016 2017 2018 2019
Use of Home Equity Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth. This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.
Jonathan and Angela-Marie, Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at (720) 256-4703. Source: www.watersongmortgage.com
RE/MAX Professionals
IN THIS ISSUE Comparing 2020 to 2008 | Market Report Update | You Hold the Power