Michael Clarkson is one of Denver's highest profile brokers. He’s been featured in Realtor® Magazine three separate times, Denver Post, Denver Business Journal, KOA Radio, KHOW Radio, and the Colorado Radio Network. Michael is a licensed Managing Broker in Colorado and a GRI (Graduate Realtor® Institute). He is also a partner in the firm, Cash Path Real Estate LLC. Michael has an MBA in International Business from Regis University in Denver.

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Saturday, December 29, 2007

Growth Slows in Some States

Growth Slows in Some States

By Conor Dougherty
From The Wall Street Journal Online

Population growth in several of the fastest-growing states is slowing -- in Arizona, Florida and Nevada, in particular -- in a trend both reflecting and fueling the housing-market malaise in those areas.

Signs Of Change

The Census Shows: Growth in several of the fastest-growing states has slowed.

What It Reveals: Malaise in the housing market is changing the way Americans relocate.

Bottom Line: The West and South continue to gain residents from the Midwest and Northeast.

Home-Price Declines Accelerate

"This is our first chance to see what has been the migration impact of the housing-market slowdown, and it's showing up in these highflying states," says William Frey, a demographer at the Brookings Institution, a Washington think tank.

The Census Bureau's annual estimate of state population changes covers the 12 months that ended July 1. It shows that people continue to flee the Midwest -- especially Michigan, one of two states to lose people -- and that the Mountain states in the West continue to post large population gains as people arrive from California and elsewhere.

Arizona, Florida and Nevada are still among the fastest-growing states in the country, by percentage. Nevada saw an increase of 2.9%, or 72,955 people, tallying births, deaths and migration from inside and outside the U.S.

That was less than the previous year's 3.5% increase and lower than the 3%-plus growth rate for the six previous years. Arizona, the second-fastest-growing state, saw its population increase 2.8% in the most recent period, compared with a 3.6% rise in the previous year.

U.S. Census, 2007 VS. 2006

[Image] See a sortable chart of states' shifting populations.

Florida, which has suffered heavily in the housing bust, saw the sharpest falloff in population growth. Florida grew 1.07%, slightly faster than the U.S. growth rate of 0.96%. During the year, 35,301 people moved to Florida from another state, 134,798 fewer than in the previous year. That is the slowest rate of domestic migration into Florida since at least 1990, the year the Census Bureau began publishing annual estimates of migration between states.

Pain in the manufacturing sector, especially auto manufacturing, continued to purge residents from the Midwest. Michigan lost 30,500 residents, a 0.3% decline. Ohio was essentially flat, gaining 3,404. Besides Michigan, the only state to lose population was Rhode Island.

Broadly, people in the Northeast and Midwest continue to leave for the West and South. Utah and Idaho were the third- and fourth-fastest-growing states, respectively. Colorado and Wyoming were eighth and ninth, respectively. Both states saw their rate of growth increase.

Residents of California, on the other hand, continue to leave: In the most recent period, 263,035 people left California for another state. The state's 0.8% population growth was mostly because of births.

In the South, states including Georgia and North Carolina have taken the fast-growing mantle away from Florida, while Texas continues to suck up new residents. Georgia and North Carolina grew 2.17% and 2.16%, respectively. Texas grew 2.12%. Those states also are among the biggest gainers in absolute terms. Texas gained 496,751 residents, more than any other state. Georgia had the third-largest increase, with 202,670, and North Carolina was fifth, with 191,590.

Following the exodus of residents after Hurricane Katrina, Louisiana added about 50,000 people in the year to July 1. There is still a ways to go, though: From July 2005 to July 2006, the state lost about 220,000 residents.

 
 
 
 
 

MileHighHomeHunter.com - Weekly Real Estate News Channel

Here is a link to my weekly "REAL ESTATE NEWS CHANNEL":

Click Here

This week's segments are full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

Some of the topics covered this week are:

Real Estate Outlook - The economy's messages for real estate in the past week have been just about as mixed as you can get.
Mortgage Moment - Jan Demas discusses making "Mortgage Payments online".
Market Condition - Kihei, Hawaii, fueling a healthy housing market is super healthy job growth -- reported in the last few year at 17.94%.report local experts.
Ask the Expert - "My grandfather is giving me his home. There is a $20,000 mortgage balance. The lender says that I cannot get a loan unless my grandfather sells the house to me for at least the $20,000 value. He says my grandfather can "give" me the equity. Do I have to do it this way?"
Video of the Week - This week's amazing video.

You can also tour my latest listing as well as view some of my personal favorites.

I hope you enjoy this week's show. If you have any comments, please e-mail them to me.
 

Oh, by the way™

… if you know of someone looking for a Realtor® whose service is "Mile High" and would appreciate the level of service I provide, please call me with their name and business number and I will be happy to follow up and take great care of them.

 

 

Kind regards,

 

Michael

 

Michael J. Clarkson
Broker Associate
Work: 1.303.403.2641
Mobile: 1.303.332.6393
Fax: 1.866.723.4337
Email: mj@milehighhomehunter.com
IM: mjclarksondenver (MSN)
RE/MAX Alliance
9737 Wadsworth Parkway
Westminster, CO 80021
USA
See who we know in common Want a signature like this?
 

Friday, December 28, 2007

News from The Mile High Home Hunter

 
 
RE/MAX Alliance
Mile High Home Hunter
News ALERT!
IS DENVER POISED FOR A TURNAROUND IN 2008?

What is going on here? 

In real estate, you get to meet a lot of people, and you hear a few funny stories -- some of which are timely and real estate related.  For example, I heard a joke about the Broncos that went:
 
Q: Did you hear that someone vandalized the Broncos Offensive Team's homes?
 
A: Yeah, someone put an end-zone in front of their homes and they couldn't get in!
 
Jokes aside, which
of these three opportunities do you think is the best for someone interested in Denver real estate in 2008?
  1. Being the listing real estate agent for all the Broncos who will get whacked this year in training camp?
  2. Being the buyer's agent for all the new players moving to Denver to play for the Broncos in 2008.
  3. Buying or selling a new home in Denver in 2008?
In my opinion, it's #3.  Though, either #1 or #2 would certainly generate a lot of business, things in our market appear to be looking favorably.

As those of you who have been long-standing clients of me know, I have been sharing data that tends to indicate that there are favorable factors pointing to a stronger market in Denver in 2008.  This is a trend I have been seeing and sharing in my blog at http://www.MileHighMLS.com for quite some time now.  As of this writing, the trends are moving favorably.  

So, is NOW the time to buy or sell? Well, that's a personal decision that is based on your particular goals -- goals I can help define in the context of the current market. 
 
What I CAN tell you is that the following are data points that have been publicized in leading real estate resources in the past 60 days:
  • Denver was in the TOP 10 of HIGHEST Year-Over-Year Job Growth (as identified by Monster.com in November 2007)
  • Colorado is in the TOP 8 of the FASTEST GROWING STATES (in terms of population)
  • The National Association of REALTORS� identified DENVER as one of the TOP 5 HIGHEST POTENTIAL MARKETS in 2008.
    • Click here to see the presentation (This is a PowerPoint presentation that you will need to open or save to your hard drive. To ensure the data is not changed, you will need to open it as "Read Only" as it is password protected.)

Additionally, national stories on my Real Estate Video Channel, published in my monthly eNewsletter, are telling the story of a stronger market -- despite the media reporting (click here to see the report)

  • Or click here to check out my weekly real estate video channel provided to my clients

AND, I can tell you as a practicing REALTOR� working in the field everyday, that I am seeing multiple offers coming in concurrently on foreclosure/bank owned listings. 

  • Though this is more of an analogy rather than a piece of raw data, I am seeing it in every offer I have written this year for foreclosure/bank owned listings. So, competition with other buyers is heating up.

So, is this 1999 ~ 2000 all over again? Not by a long shot!  (That is a GOOD thing!) However, there are compelling reasons to buy right now:

  • Demand and supply of homes is moving into more of an equilibrium
  • The debt-forgiveness plan passed by Congress and signed by the President (click here to see the Act) are intended to normalize the market
  • Interest rates are at HISTORIC LOWS STILL!!! (click here to see the latest rates) AND, qualified buyers are ALWAYS desirable to lenders.

All together, this should slow down ARM pops and, thus, slow the pace of foreclosures -- meaning less supply of foreclosed homes and, by extension, total homes up for sale.

In fact, I have had several clients taking advantage of the current market by investing.  They have bought or are in the process of buying a new home and renting out their current home, in some instances to recently displaced homeowners.

  • These investors were encouraged due to the very high occupancy rates and upward pressure on rents in the Denver metro area. 
  • In fact, one client had their home contracted for rent within 4 days of advertising it!

Afraid of being a landlord?  I have access to lots of resources to help make you through the process.

So, if historically lower interest rates, a currently favorable supply of homes and the data presented from the resources above have you thinking now is the time for you, then I am here to be of help.

 
Also, if you know of anyone buying or selling - either as a homeowner or an investor - and would appreciate the level of professionalism and service I offer, please provide me their name and number and I will be happy to follow up with them and take great care of them.  I am always complimented most highly when I am referred by you. 
Quick Links
RE/MAX Alliance
Michael Clarkson
REALTOR�, GRI
 
RE/MAX Alliance | 9737 Wadsworth Parkway | Westminster | CO | 80021

You can find great local Erie, Colorado real estate information on Localism.com Michael Clarkson is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

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