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Randall Brennan, Equity Colorado Realtor
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Matthew Rognlie, from the Department of Economics at MIT, recently released a paper: Deciphering the Fall and Rise in the Net Capital Share. One of the major findings of the report is that homeownership is and has been for the last fifty years a major component to family wealth.

An article on the study in The Economist notes one of the findings of the study:

“The return on non-housing wealth, in fact, has been remarkably stable since 1970. Instead, surging house prices are almost entirely responsible for growing returns on capital.”

This came as no surprise as the Federal Reserve previously reported that the net worth of families that own their own home is 36 times greater than that of families that rent.

Bottom Line

HousingWire’s Senior Financial Reporter, Trey Garrison, summed it up well in his reporting on Rognlie’s study:

“Homeownership has consistently created generational wealth more reliably, and more ‘democratically’, than any other asset class. And it does so in a manner entirely ancillary to its primary purpose of giving you a place to lay your head and keep your stuff.”

#realestate   #homeownership   #wealth  
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The 30-year fixed mortgage interest rate is still generally available below 4%. Many buyers might be on the fence about purchasing a new home, or waiting until next year and hoping the low rates will still be available.

If you are one of those buyers, take a look at what the experts are predicting over the course of the next 12 months. It might make the decision for you.

Predictions for 2016 2Q:

4.2% - Fannie Mae
4.7% - Freddie Mac
4.9% - Mortgage Bankers Association
5.3% - National Association of Realtors

Even an increase of half a percentage point can put a dent in your family’s net worth.

Let’s look at it this way…

The monthly payment (principal & interest only) on a $250,000 loan today, with the current 3.86% interest rate, would be $1,173.

Take a look at that same home one year later. The Home Price Expectation Survey projects that prices will rise about 4.4%, so your mortgage will need to be $11,000 more, or $261,000. That alone might affect your ability to buy the home.

If we take the average mortgage rate projection of 4.78% from above, the monthly mortgage payment climbs to $1,366. Some buyers might not think that an extra $193 a month is that bad, but over the course of 30-year mortgage you will have spent an additional $69,480 because you waited a year, and you'll need over $600 more in gross income per month to qualify for the loan.

Bottom Line

We've been very lucky that mortgage rates have been staying so low for so long. Nothing lasts forever, though, and those rates are expected to go up. Don't let your luck run out.

#realestate   #mortgage   #mortgagerates  
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It's a tight market out there. 
Rents Are Up, and Not Where You Might Expect
The Bay Area, New York City and other hot real estate markets have been coping with rapid rent appreciation for years. Now the rent is surging in smaller markets, raising affordability concerns.
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We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.

If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now.

According to research at the National Association of Realtors (NAR), buyer activity last month (January) was three times greater than it was last January. Purchasers who are ready, willing and able to buy are in the market in great numbers.

The most recent Existing Home Sales Report from NAR revealed that the months’ supply of housing inventory had fallen to 4.4 months which is the lowest it has been in over a year.

Bottom Line
These charts reflect the national housing market, but I can tell you that in my market area, the supply is well less than half the national average. Buyers are ready! Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.

#realestate   #economics   #housingmarket2015  
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Latest blog post just went up this morning.

#realestate   #realtor   #realeasteagents  
As you're searching for your agent among all the thousands of real estate agents out there, remember that the one who's "like" you is probably the one you'll work best with. Listen to the agent, and pay attention.
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The Census recently released their 2014 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership.

Easy, Chicken Little

The national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rate since then and taken that as a bad sign.

However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995.

Bottom Line

With interest rates and prices still below where experts predict, and both expected to go up over the next year, you should evaluate your ability to purchase a home with a local real estate professional. You might be surprised with the answer.

#realestate   #homeownership   #statistics  
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With inventory presently below historically normal levels, current & future home prices have been the topic of many real estate conversations. The most recent Home Price Expectation Survey was just released; giving insight into where experts believe prices will be leading up to 2019.

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

Here are some highlights from their latest survey:

   >Home values will appreciate by 4.4% in 2015.
   >The cumulative appreciation will be 19.3% by 2019.
   >That means the average annual appreciation will be 3.6% over the next 5 years.

Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.7% by 2019.

Individual opinions make headlines. I believe the survey is a fairer depiction of future values.

#realestate   #homeprices   #homepricegrowth   #economicgrowth  
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The FREE real estate guides have been updated for Spring, 2015! Get your no-obligation copy now at and stay current with information you need to know.
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Wait! Before you write that earnest money check, maybe a little-used thing called an earnest money promissory note might work. It might not, but you should know about it. Read more at the blog.

#realestate   #financing  
Earnest money promissory notes are kind of a unique little animal in the real estate world. They are rarely used, but can be useful.
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I've seen too many times. 
"Believing in negative thoughts is the single greatest obstruction to success.” 
― Charles F. Glassman
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Spent a bit of time reorganizing my website and blog. That was an adventure! 

#realestate   #website   #reorganization  
Reorganizing the website has been a major focus for the past few days. In the long run, it will make sense, but the short-term cost might have been pretty high.
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Highlands Ranch, CO
USColoradoHighlands Ranch
Real Estate AgencyToday Closed
Monday 9:00 am – 9:00 pmTuesday 9:00 am – 9:00 pmWednesday 9:00 am – 9:00 pmThursday 9:00 am – 9:00 pmFriday 9:00 am – 9:00 pmSaturday 9:00 am – 9:00 pmSunday Closed
Real estate agent and REALTOR  representing Equity Colorado, and offering personalized service to buyers and sellers in south metro Denver. 
  • Master Certified Negotiation Expert
  • Certified Distressed Property Expert
  • Certified Investor Agent Specialist
  • Certified Military Housing Specialist

Call Randall to handle your real estate needs!
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