According to a survey by Porch.com, Colorado is the Most Desirable State to Move to – beating out even Hawaii and California. The top states tend to have one thing in common – an abundance and variety of outdoor activities. Even though we think home prices in Colorado are high, people on the east coast… [Read More]
Is a Fixer Upper A Good Deal
Many people wonder if a fixer upper might be a good investment. Buy a home cheaper and then put sweat equity into it and fix it up the way you want it. Well it turns out that most people end up spending almost as much or more for the fixer uppper than a home that… [Read More]
Buyers take a 2nd look at duplexes
Buyers, take a 2nd look at duplexes because duplexes are a perfect hybrid between single family homes and condos. Less expensive than a single family home and more privacy than a condo. They are not as expensive as single family home because they feature smaller yards and shared infrastructure. And they are not as high… [Read More]
Mortgage Rates Hit a 3 Year Low
Continued good news for buyers as the Mortgage Rates Hit a 3 Year Low. The mortgage rates ended the week with the 30 year fixed rate mortgage averaging 3.55%. That’s almost a full point less than this time in 2018 when the mortgage rates were 4.53%. That allows buyers to buy a more expensive home… [Read More]
August Denver Area Real Estate Market Overview
July’s Denver Area Real Estate Market final figures shows 19% more homes for sale (13,334) this July vs July of 2018. Encouraging news for buyers – more homes to choose from and less buyers competing with you. The Average Sold Price is down slightly from last month – from $489,258 to $482,526. The Average Days… [Read More]
Very low interest rates are improving home affordability
Our current low interest rates are the cheapest financing in almost three years and is improving home affordability. Home affordability jumped 10% in June from a year earlier as mortgage interest rates continue to drop making it easier for Americans to buy homes. Home buyers have been experiencing head winds from three major fronts: 1)… [Read More]
New Condo Rules Helpful to Buyers
Effective Oct. 15th there are new condo rules that will be very helpful to buyers. FHA was created to help more buyers afford a home. The most affordable homes are condo. Unfortuantely FHA passed laws in 2009 that drastically restricted and reduced the number of condo complexes that qualify for an FHA mortgage loan. Plus… [Read More]
Americans Have Never Felt This Good About Real Estate
Americans have never felt this good about Real Estate. Fannie Mae reports that their Home Purchase Sentiment Index is at a record high reading in July – Up to 93.7%. Job confidence and low interest rates have contributed to this sentiment despite housing supply and affordability issues. To read more details click here. Whenever you… [Read More]
Real Estate Is Americans Favorite Long Term Investment
Real Estate is Americans Favorite Long Term Investment again. After the big real estate crash, stocks took over as the favorite long term investment. Bankrate reports that with their most recent survey, 31% of the respondents reported that real estate is their favorite long term investment To read more details click here. Whenever you are… [Read More]
First Fed Interest Rate Reduction since 2008
Last Wednesday the Feds made their first interest rate reduction since 2008 – when the recession started. How will that affect you as a potential home buyer? A short answer is that it will give you more purchasing power. As an example, if you wanted to keep your house payment close to $1,500 a month… [Read More]
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