Navigating and Investing in the Real Estate Market | Monique Nobil
Monique Nobil, a residential real estate agent in the Denver metro area explores the housing market today, investing in real estate, and valuing your home.
Three Things You’ll Learn:
- How to navigate the purchasing process.
- How inflation will likely affect the market in years to come.
- How to figure out the value of a home.
Monique Nobil, a residential real estate agent in the Denver metro area, with Nobil Solutions and LoKation Real Estate, explores the housing market today, investing in real estate, and valuing your home.
Since she was young, Monique has always had an interest in homes and real estate. At the age of 19, she entered her career as a real estate agent.
The purchasing process varies by area and market. Monique explains that it’s imperative to know your markets, she says, as each is very unique. She highlights how Airbnb can be a different market, and things to consider when managing your own Airbnb. Monique’s tip: do not assume you will have a one hundred percent occupancy rate – even if you have a ‘perfect’ property or market. She also talks about transfer fees and taxes, and short-term rental rules.
As an investor, you want to align yourself with a quality and knowledgeable realtor, Monique says.
Monique provides up-to-date numbers from the Denver market and explains that, over the past year, things have slowed down. She also explores market inflation and the market crash. We won’t see what we saw in ‘08, she assures.
The real estate market is a simple supply-and-demand business. Monique explains:
[21:18] “It was once said to me: It doesn’t matter where you come from. What religion you are, what ethnicity you are. Man, woman. It doesn’t matter what you are. We all need the same thing. We need food, water, clothing, and shelter. We all need a roof over our head. And so that demand is going nowhere. And the question we have is the affordability when more people need a home. But the demand is still there.”
Monique provides where she sees opportunities for investors in the market. First-time home buyers should get in wherever they can, even if it’s in a neighborhood that isn’t at the top of their list. For investors, it really depends on the city, its rules, and what you are trying to do. It is consistently an investment.
Property taxes have increased in Colorado in recent years. But that isn’t necessarily a bad time. Monique talks about how Colorado became a popular place to live during the height of the COVID-19 pandemic. She explains that taxes went up because the property value went up. You may be valuing your home incorrectly.
[33:14] “How do we figure out the value of a home? The only way you figure out the value of a home is ‘What is someone willing to pay for it?’ That is the only way.”
Monique leaves listeners with her recommendations for locations in Denver and the Vail Valley for investing in the real estate market.