Wednesday, January 21, 2009
Colorado growing as 5 fastest rate
Colorado's population continued growing at a steady pace over the past year, pushing it to fifth on the Census Bureau's annual rankings of fastest-growing states, released Monday.
Between July 2007 and July 2008, the state's population grew by 96,686 people, according to Census Bureau estimates. That rate of growth — about 2 percent — is identical to the state's 2 percent growth rate last year, when Colorado ranked eighth on the Census Bureau's list.
As of July 1, Colorado's population was 4,939,456, according to the bureau.
What propelled Colorado's rise up the fastest-growing-states list this year is that many of Colorado's Western neighbors saw their stratospheric population-growth numbers fall back toward Earth.
"Colorado's growth has been steady," said Y. Richard Lin, a demographer with the state Department of Local Affairs. "So when some other states are declining, we rise up a little bit."
For instance, Nevada, which had spent 23 years as one of the four fastest-growing states, this year fell to No. 8 with a 1.8 percent growth rate. Arizona, which last year ranked second with a 2.8 percent growth rate, grew by 2.3 percent this year, though that was still enough to rank second behind Utah's 2.5 percent.
In total, Colorado's consistent growth rate caused the state to leap-frog three states that saw their growth rates slow.
What's cooling the growth in the previously booming West and South? Blame the economy.
"People have stopped moving," said William Frey, a demographer at the Brookings Institution in Washington. "It's a big risk when you move to a new place. You need to know that moving and getting a new mortgage is going to pay off for you."
Colorado's steady growth and a diverse economy, said Elizabeth Garner, the state demographer, have temporarily sheltered the state from the national economic crisis.
"Most of our growth is dependent on the economy; so are jobs," Garner said. ". . . We've had job growth and that brings people."
The job growth also has come in a number of areas, from health care and education to oil and gas, Garner said. But both she and Lin said they think the nation's bleak economic outlook will begin affecting population growth in Colorado.
"We expect the next year to grow much slower," Lin said. "But compared to other states we'll probably still maintain the same ranking."
The Associated Press contributed to this report. John Ingold: 303-954-1068 or jingold@denverpost.com
Between July 2007 and July 2008, the state's population grew by 96,686 people, according to Census Bureau estimates. That rate of growth — about 2 percent — is identical to the state's 2 percent growth rate last year, when Colorado ranked eighth on the Census Bureau's list.
As of July 1, Colorado's population was 4,939,456, according to the bureau.
What propelled Colorado's rise up the fastest-growing-states list this year is that many of Colorado's Western neighbors saw their stratospheric population-growth numbers fall back toward Earth.
"Colorado's growth has been steady," said Y. Richard Lin, a demographer with the state Department of Local Affairs. "So when some other states are declining, we rise up a little bit."
For instance, Nevada, which had spent 23 years as one of the four fastest-growing states, this year fell to No. 8 with a 1.8 percent growth rate. Arizona, which last year ranked second with a 2.8 percent growth rate, grew by 2.3 percent this year, though that was still enough to rank second behind Utah's 2.5 percent.
In total, Colorado's consistent growth rate caused the state to leap-frog three states that saw their growth rates slow.
What's cooling the growth in the previously booming West and South? Blame the economy.
"People have stopped moving," said William Frey, a demographer at the Brookings Institution in Washington. "It's a big risk when you move to a new place. You need to know that moving and getting a new mortgage is going to pay off for you."
Colorado's steady growth and a diverse economy, said Elizabeth Garner, the state demographer, have temporarily sheltered the state from the national economic crisis.
"Most of our growth is dependent on the economy; so are jobs," Garner said. ". . . We've had job growth and that brings people."
The job growth also has come in a number of areas, from health care and education to oil and gas, Garner said. But both she and Lin said they think the nation's bleak economic outlook will begin affecting population growth in Colorado.
"We expect the next year to grow much slower," Lin said. "But compared to other states we'll probably still maintain the same ranking."
The Associated Press contributed to this report. John Ingold: 303-954-1068 or jingold@denverpost.com
Wednesday, January 7, 2009
What Gonna Happen with real estate?
What is gonna happen in the new year?
Housing, we see 2009 as a period of price stabilization for most markets. One good gauge that home prices are stabilizing in your area is to figure a monthly payment with 20% down and compare that to rents for the same property. If it would actually be cheaper to purchase the home than to rent it - that's a good sign.
Home prices in some markets may still decline some during 2009, but those who make savvy purchases below market value should fare quite well, especially longer term. There's a lot of inventory on the market, which is viewed negatively, and needs to be sopped up before the housing market really turns. But...the inventory in the housing market does make this a fantastic time to be a buyer. Homebuyers will have a strong negotiating stance from the get-go, and are likely to make favorable deals, maybe even a once-in-lifetime deal. Those who buy a home and live in it for the long term will are likely to be rewarded handsomely. Let's face, people need homes. They are not going to start living in tents just because the economy is bad. We predict that consumers will start buying again in the coming year, particularly with attractive home loan rates and many homes to choose from.
Mortgage Rate Forecast ...How low can they go?Early 2009 could very well mark the lowest rates that we will see for the rest of our lives. Think about that. More importantly, your customers should be thinking about that too. We expect interest rates to stay in a range of 4.5 - 5.5%, with the potential to see rates moving toward the higher part of the range later in the year.The forecast for the beginning of the year is important of course, but count on us at to keep informing and advising you throughout the coming year. With so many of your competitors having dropped away, opportunities abound for those who are willing to stay positive and work hard. The question is not who is going to let you be successful . . . it's who is going to stop you. During these volatile and historic times, we're proud to be with you on this journey, and appreciate each of you being part of our family.
CALL ME WITH ANY QUESTIONS AND HAPPY NEW YEAR!
-- Brian BaconGRS GRI ABR MRE
Bacon Ent., Inc.mailto:Inc.bacondenver@gmail.com
303-301-7133 direct
303-905-5002 cell or text
303-736-4093 faxNEW ADDRESS -- We MOVED!!!!!!!!!!12365 Huron St. (SW corner of 124th& Huron)Westminster CO 80234
http://www.bacondenver.com/http://www.housefindercolorado.com/
assistants:
Linda Lowe -- 303-862-4173
Marilynn Crider 303-887-8321 cell/txt
Housing, we see 2009 as a period of price stabilization for most markets. One good gauge that home prices are stabilizing in your area is to figure a monthly payment with 20% down and compare that to rents for the same property. If it would actually be cheaper to purchase the home than to rent it - that's a good sign.
Home prices in some markets may still decline some during 2009, but those who make savvy purchases below market value should fare quite well, especially longer term. There's a lot of inventory on the market, which is viewed negatively, and needs to be sopped up before the housing market really turns. But...the inventory in the housing market does make this a fantastic time to be a buyer. Homebuyers will have a strong negotiating stance from the get-go, and are likely to make favorable deals, maybe even a once-in-lifetime deal. Those who buy a home and live in it for the long term will are likely to be rewarded handsomely. Let's face, people need homes. They are not going to start living in tents just because the economy is bad. We predict that consumers will start buying again in the coming year, particularly with attractive home loan rates and many homes to choose from.
Mortgage Rate Forecast ...How low can they go?Early 2009 could very well mark the lowest rates that we will see for the rest of our lives. Think about that. More importantly, your customers should be thinking about that too. We expect interest rates to stay in a range of 4.5 - 5.5%, with the potential to see rates moving toward the higher part of the range later in the year.The forecast for the beginning of the year is important of course, but count on us at to keep informing and advising you throughout the coming year. With so many of your competitors having dropped away, opportunities abound for those who are willing to stay positive and work hard. The question is not who is going to let you be successful . . . it's who is going to stop you. During these volatile and historic times, we're proud to be with you on this journey, and appreciate each of you being part of our family.
CALL ME WITH ANY QUESTIONS AND HAPPY NEW YEAR!
-- Brian BaconGRS GRI ABR MRE
Bacon Ent., Inc.mailto:Inc.bacondenver@gmail.com
303-301-7133 direct
303-905-5002 cell or text
303-736-4093 faxNEW ADDRESS -- We MOVED!!!!!!!!!!12365 Huron St. (SW corner of 124th& Huron)Westminster CO 80234
http://www.bacondenver.com/http://www.housefindercolorado.com/
assistants:
Linda Lowe -- 303-862-4173
Marilynn Crider 303-887-8321 cell/txt
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