Best Time To Sell Your Home in Denver?

Below is an interesting excerpt from a CNBC article on the New York RE market that I believe correlates to many large markets, including the Denver real estate market.

Are we nearing the peak? You cant argue with history and they say history always repeats itself. If we are on a path to repeat history, now could be the best time to sell your house fast. Denver has seen these major upswings in recent years with insane yearly appreciation. Take a look into the article for a deeper look into where we may be heading. Also, to see if this is the best time to sell your home in Denver.

“432 Park Avenue is only one of as many as a dozen residential and commercial buildings that will compete for the “tallest” moniker in New York in the next several years.

It’s worth noting that, the erection of a region’s tallest building has, since the early 1900s, been associated with both stock- and real-estate market tops. Consider these:

The Woolworth building in 1907; the groundbreaking on the Chrysler and Empire State buildings in the late 1920s; the World Trade Center in the early 1970s, along with the Sears Tower in Chicago; the Petronas Towers in Malaysia in 1997, the Burj Khalifa in Dubai in recent years, and the Shanghai World Financial Center in 1998. Every last one of them correlated closely with stock and real-estate market peaks.

Despite the rosy view of builders, there is a serious risk, in my view, that the supply of (mostly) expensive new housing in New York may outstrip demand for some years to come.

Add to that a potential glut of commercial real estate as well. Never in my career have I heard of capitalization rates falling below 3 percent, even in Manhattan. “Cap rates” are a way of valuing commercial real estate. The lower the cap rate, the richer the valuation. ”

There is no telling where we may be heading in the Denver real estate market, but one thing to remember is that history tends to repeat itself. If that is true and if the cycle sticks to its 7-10 year runs, we are nearing the top prices for Denver homes. Best time to sell your home in Denver is when you’re ready.

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