Real Estate Showdown Week 12 Denver Vs New England

Real Estate Showdown Week 12 Denver Vs New England

Do you hear that, my friends? That is the sound of first place in the AFC West. It’s a little too early to get completely cocky, as there is one more game against the Chiefs next week. However, I like what I saw on Sunday.  The Broncos definitely played some over their best defense of the entire season. Even though the high octane offense was limited to 27 points, the Broncos kept a consistent grip on the lead, which is key.

No sense looking in the past or too far in the future right now. The most important is the here and now when the Broncos head to New England to face Tom Brady and the Patriots. In New England, this might be the toughest test of the year for them. If Peyton Manning and the Broncos want to come away with the W, here’s a few key areas they need to focus on.

Only as good as your weakest link

If the Monday night Patriots v. Panthers game has taught us anything, its this: Tom Brady is only as good as his weakest link. Yes, he completed a high number of passes last night, which means his receiving core has improved, but when it was crunch time, who was the one receiver he kept going to? Rob Gronkowski. I know neutralizing Gronk is easier said than done, But Tom Brady has proved he doesn’t quite trust his other receivers just yet, making him very one dimensional when the game is on the line.

Run it down their throats

I know this sounds like a weird statement when you have one of the best quarterbacks to ever play the game, but the Patriots not very sound when it comes to defending the run. They are ranked 27th in the league and give up an average of 125 yards per game on the ground. When you have a back like Knowshon Moreno who can slash through the defensive line with ease, it makes the defense have to respect the run, opening play action fakes and wide receiver screens.

Next man up

The Broncos, like most teams late in the season, are dealing with some key injuries. Ryan Clady is out for the year. Wes Welker’s status for Sunday is shaky. Champ Bailey is nowhere to be found. In times like this, the great teams separate from the average teams by who can step up off the bench. Last week, Quentin Jammer had a great game off the bench. Chris Clark, who has filled in for Ryan Clady, has done a solid job of keeping Peyton Manning upright. Its important for their bench players to step up when their number is called.

The keys to beating Boston’s real estate market, however, are a little different. In this week’s edition of the Real Estate Showdown, we will matchup the real estate markets of Denver and Boston, Massachusetts . As we have each week, we will focus on 7 key factors to make our determination on which market is truly the winner (stats gathered via National Association of Realtors).

Denver, Colorado 
Median Home Price: $244,000
Percent Change in Median Home Price (Previous Month): 0.18% Increase 
Percent Change in Median Home Price (Previous Year): 10.66% Increase 
Percent of Home Ownership: 52% 
Home Vacancy Rate: 4.34% 
Income Per Capita: $32,051 
Unemployment Rate:  7.0%  

Boston, Massachusetts  

Median Home Price: $421,940
Percent Change in Median Home Price (Previous Month): 2.41% Increase 
Percent Change in Median Home Price (Previous Year): 14.30% Decrease
Percent of Home Ownership: 35% 
Home Vacancy Rate: Not Reported
Income Per Capita: $33,158 
Unemployment Rate:  7.1%

Boston’s real estate market is the classic example of ‘Just because something costs more, it doesn’t mean its better.’ Yes, the median home price is almost $200,000 more than it is in Denver but here’s three of the most alarming statistics to take into account.

First, Boston’s market has actually depreciated over the last year compared to Denver’s. Who cares if your house is worth more if you are losing money on it?! Sure their market is up higher over the last month, but given the seasonality of the market, I wouldn’t say it’s particularly concerning.

Second, the affordability of Boston versus Denver is horrendous! The median income is only roughly $1,000 higher in Boston and yet the home prices are double! It would literally take double the amount of time to save up with current salaries and pay for a home in cash.

Finally, the home ownership rate in Boston is a miserable 35%, the lowest of all the markets we have analyzed this year. This makes sense given how unaffordable real estate is in Boston. The vacancy rates are not reported but the assumption is, given the data we are looking at, it cannot be much better. This is a market even Tom Brady and Bill Belichick cannot save.

Check out our next Real Estate Showdown when we revisit the battle between Denver and Kansas City. In the meantime, give me a call if you are thinking of buying or selling a home and would like help squashing the competition!

Matthew Koller is part of the Carr Peck & Associates at Keller Williams. Carr Peck & Associates were 6th in Denver Metro home sales out of 5,000 agents and has been recognized by the Wall Street Journal and Real Trends as one of the top selling teams in the country. For more information feel free to  
contact him   or call 303-704-3286. 

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Dated: November 20th 2013
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