"Never let the fear of striking out get in your way"

- Babe Ruth

October Newsletter

FALL IS IN THE AIR

With a slowing market this fall we made time to take new family photos. One thing's for sure; when you have kids, time truly does fly! Keeping that in mind, we have a fun 'family photo' announcement at the bottom of this newsletter. Scroll down and look for Santa.

Market Update

There are currently 11,000+ Homes on the market. We have officially surpassed this landmark in Active Inventory. It's been coming for quite some time now as the market has slowed substantially since Memorial Day.

My message lately has been to start looking to buy if you want to buy, OR start thinking about preparing for late winter/early spring if you're thinking of selling. We did have a 50 basis point cut last month by the Fed, but honestly this really hasn't affected the market too much.

I would project that the lack of enthusiasm coming from the rate cut draws a correlation to the fastest/highest rate HIKE in over 40 years that took place just a couple years ago. Simply put, 50 basis point cuts just aren't enough to really stimulate a whole lot of market activity.

Will Interest Rates Continue Coming Down?

Answer: It would seem VERY likley. According to JP Morgan Research, the most likely outcome of the next Fed meeting (early November) would be a 50 basis point cut (again). I'm not overly confident it will be 50 points, but it appears to be an almost certainty that a rate cut will happen at their next meeting. Further, there are projections of four, 25 point cuts in 2025 (a full percent point).

Disclosure: Keep in mind, the Fed analyizes 'rareview' data. Meaning that they look at data from the previous month or quarter to determine what moves to make going forward. That said, we really don't know anything for sure until monthly and quarterly data confirms the continued downward trends.

IS THERE A 'RIGHT' TIME TO BUY A HOME?

I came across a video this past week from one of my favorite investors: Ken Fisher. I wanted to share a specific section of this video with you. Mr. Fisher generally focuses his TV time, news articles, and books on advising for stock market investing and other investments. However, this past week he did a Q&A segment where a follower specifically asked: Is There A Good Time To Buy A Home?

Although it's always nice to buy during a dip and sell at a peak (see above), in reality a home purchase is a long-term investment and should be done with a long-term goal in mind that fits your current lifestyle and at a time that's right for you.

Ken's answer probably won't shock any of us, but it's very simple: "the time to buy a home is when you like it."

Take a listen, the question/answer is at the 4:32 - 5:27 mark, but there's a lot of valuable insight throughout the whole video:

1019 S Osage St., Denver Co

Congratulations to Andrew on the successful sale of his home! With the market slowing down so much heading into the fall, we needed to get aggressive to find a buyer for this house. Thank you for trusting me through this process and the amazing review!

2143 S Downing St., Denver, Co

This month's featured listing is a very unique property, perfect for the right buyer, let me explain: This house was originally built in the 1920's with an addition put on in the 1940's. Fast-forward to 2020 and another MASSIVE addition was added. There are two kitchens and this place feels more like 2 separate houses separated by an interior door.

A perfect place for an AirBNB or longer term rental as it's located just blocks from Denver University and down the road from the hospital. The possibilities are quite vast.

Click on the photo above to view more details about this beauty!

Family Christmas Photos

I want to invite you to join us for Family Christmas Photos with Santa! This December, myself along with my partners in crime, (Dale Becker and Robin Gerlach) would love to have you join us to take family photos as we bring in Santa all the way down from the North Pole.

Dates and location will be announced in the coming weeks. There is no cost and you will get a printed photo with Santa.

Wishing you a Happy Halloween filled with lots of candy and no cavities!

Travis Carey

Broker Assoc.

M: 607.435.5113

travis.carey@compass.com