August 2023

AUGUST NEWSLETTERDENVER IS A GREAT MARKET FOR RE | PALISADE PEACHES | RECIPE OF THE MONTH

Denver is Among the Nation’s Top 10 Best Performing Real Estate Markets

From multifamily construction to commercial property and single-family homes, Denver real estate development eclipsed most of the country over the past decade. The City of Denver ranked No. 9 for most activity across all real estate sectors, which includes single-family, multifamily, self storage, office, retail and industrial construction.

According to the analysis, Denver was the 9th-best city for real estate construction over the past decade, propelled by its lively office, single-family and multifamily construction sectors.

One sector that’s been thriving as of late across the nation is self storage, and Denver is no exception. About 2.3M square feet of storage space was added to the local inventory over the past ten years.

Over the last decade, Denver logged massive real estate additions. Here’s where it shines:

• Multifamily: Approximately 58K multifamily units were added to Denver’s skyline over the past decade, the eighth highest among the 100 biggest urban hubs.
• Single-family homes: Denver registered an impressive 17,900 building permits for single-family homes over the same period.
• Office sector: Denver’s office sector swelled by 11M square feet. That propelled the city to no. 12 in the U.S. in this regard.
• Industrial: Denver recorded important advances in industrial construction, with over 13M square feet of new space delivered from 2013 to 2022.
• Self storage: The city’s self storage sector also experienced an impressive surge in new construction, answering its residents’ complex needs for space. About 2.3M square feet of storage space was added to Denver’s local inventory over the past ten years.

Bottom Line: the real estate market in Denver remains strong. Whether you are investing in a home or in a commercial property, there is a high likelihood for a strong return on investment (ROI). 'GOLDEN HANDCUFFS' KEEPING SELLERS FROM SELLING

Would-be buyers and sellers are weighing the “golden handcuff” dilemma, where their historically low interest rates on their homes are keeping them locked in to that particular place.

• 91.8 percent of mortgages in the U.S. are under six percent
• 82.4 percent of mortgages in the U.S. are under five percent.

New listings were down 15.33 percent month-over-month and down 24.76 from this time last year. Conversely, active listings at month-end were up 3.76 percent month-over-month, showcasing a slight increase in inventory.Inventory aside, many would-be buyers are in a position where they need to sell their home first before purchasing a new one. As a result, contingent sales, which allow an individual to purchase their next home with the caveat that the purchase is contingent upon the sale of their current home, are on the rise. Sellers are now more willing to accept contingent offers today as they realize the market is shifting, and ultimately, want to sell their homes.However, the Denver market as a whole still has a lack of inventory, and while demand is slowing, it is still  a Seller’s market for many of the price points,with the exception being under $299,999 and $1.5 million to $2 million+.IT'S PALISADE PEACH SEASON IN COLORADO

Don't miss the 3 weeks of the year when the peaches are where its at.August in Colorado is a great month. You can find (arguably) the best peaches in the country at Farmer's Markets and Super Markets.If you're a peach enthusiast, don't miss the Lafayette Peach Festival on August 19 from 9 a.m. to 4 p.m. along Public Road, from Cleveland Street to Kimbark Street. The festival brings over 30,000 pounds of organic western slope peaches to Boulder County. If you'd rather have your peaches prepared for you, check out these five restaurants featuring Palisade Peaches:

1. Bistro Vendome

Bistro Vendome is serving peaches three ways at its new Park Hill spot. Chef Wolgamott likes to experiment with the summer fruit, trying a new dish out every season. This year, the French restaurant is serving a Pain Perdu during its weekend brunch with challah bread, Palisade peaches, candied macadamia nuts and crème anglaise for breakfast; topping its Salade de Pêche with a grilled Palisade peach vinaigrette; and baking them into the Tarte aux Pêches topped with vanilla ice cream.

2267 Kearney St., Denver.

2. Legacy Pie Co

As tradition goes, peaches and pies are like peanut butter and jelly. They create something together that is bigger than the sum of their parts. Grab a slice of Legacy Pie’s old-school peach cobbler with a crumbly all-butter crust or a peach and raspberry hand pie for the road.

4000 Tennyson St. Denver

3. Potager

Potager stays true to its farm-to-table reputation, plucking its Palisade peaches from Morton’s Organic Orchards, as well as family-owned Ela Family Farms and First Fruits Organic. Get your fill with the lobster and peach salad, featured on the seasonal menu for the month of August, or try one of the many peach-forward daily specials, like the peach, melon and tomato salad. And end the meal with one of their three desserts, all of which include Palisade peaches.

1109 Ogden St.

4. Mercantile

Add a little summertime goodness to your next lunch with Mercantile’s two new peachy dishes. Elevate the perfect picnic fruit with the pan-roasted foie gras with Palisade peaches, pistachios and a toasted croissant. Or keep it light with the heirloom tomato salad topped featuring Palisade peaches, seasonal greens, pistachios, marinated feta and champagne vinaigrette.

1701 Wynkoop St

5. Nocturne

This jazz venue and supper club just added grilled Palisade peaches as one of its first-course menu items. The dish comes with Tennessee country ham, Greek yogurt infused with ginger, pickled shallot rings, sorghum syrup, peanut and tahini dukka seed blend, and mint. Nocturne also has a croissant bread pudding featuring macerated Palisade peaches, bourbon caramel, roasted pecans and ginger buttermilk whip

1330 27th St.

PALISADE PEACH CRISP

Did you think you'd get a recipe that didn't feature peaches this month?!? Also, this recipe could not be easier. You're welcome! INGREDIENTS:

• 4 pounds ripe palisade peaches, peeled
  and sliced
• 1⁄2 teaspoon salt
• 1 1⁄2 cups flour
• 2 teaspoons cinnamon
• 1 1⁄2 cups sugar
• 1⁄2 cup oats

DIRECTIONS:

• Preheat oven to 350 degrees. Place peach slices in a greased 13x9x2-inch baking dish. Sprinkle with salt. Mix together flour, cinnamon, sugar, and oats. Add butter and mix with hands until crumbly. Sprinkle over peaches and pat down. Bake 50 to 60 minutes. Serve plain or with vanilla ice cream.

About FiveFour Real Estate

The name Five Four Real Estate derives its name from 5.4%, which is the average annual home appreciation rate in the U.S. over the last 50 years.  If you buy a home and put 20% down, you are leveraging your money 5X. A 5.4% increase in your home's value means a 27% ROI.

Thinking of Buying or Selling?  Know someone who is?We are NEVER too busy for your referrals! I want more info!

OUR PROMISE TO OUR CLIENTS

This could be one of the largest and most important financial decisions you will make in your lifetime, and you deserve an experienced partner that understands the intricacies of Colorado real estate.

We promise to always keep you informed about the rapidly changing market and educate you throughout the entire process. We promise to protect your best interests and treat your home or investment like it’s one of our own. We promise to work our hardest to find the perfect home for you and your family with as little stress as possible.  

We value your trust and hope to continue supporting you in your lifetime even after your sale or purchase is complete. This goes beyond real estate to us, it’s the beginning of a lifelong friendship.

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