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Category: Buying A Home

Interest rates are climbing. We knew it was a matter of time before the Fed would raise the rates. Since the presidential election the rates for home mortgages have increased by a half percent. They are still very attractive from an historical perspective so now is the time to make your move. With the cost of housing on the rise, mortgage loan limits have also increased making it easier for more home buyers to qualify for home financing. These interest rates are encouraging home buyers to buy the bigger home today rather than waiting till tomorrow . . . read more.

Nationally speaking it looks like the housing inventories are going to be low again this year in 2017 pushing up home prices and rental rates. Take a look here.  Will the housing market slow down with the interest rates on the rise?  It’s not anticipated at this time.  If you’re thinking of selling, now is an excellent time to do so.  And if you’re thinking of buying, you’ll want to get your ducks in a row to be a smart home shopper.  Call me at 720-373-0654 to get help with buying or selling a home.

Want to know which direction the real estate market is traveling in your county? Find the latest market trends inside this report defined by county to search stats for Denver homes for sale and sold. Homes for sale in Denver and the surrounding counties are detailed in this report published by the MLS at ReColorado.

HouseWrappedWithBow_BuildWealth Across the country, homes are selling pretty well as we enter the holidays. This very well could be a result of interest rates beginning to rise. In the last month alone, the average interest rate for a mortgage has risen about 1/2% and it’s expected they will rise to 4.7%-5.3% during 2017. The increased interest rate will no doubt cost home buyers more and/or reduce their purchasing power. Smart home buyers will jump on the market sooner than later to get the best interest rate possible along with the best home pricing possible before the spring housing rush begins in 2017.  Check out the latest information from the National Association of Realtors regarding the pace of housing here.

20161028-eng-stm Get rid of the excuses to put off buying a home. Get the FACTS.

Frequently home buyer’s say no to buying a home because they think they can’t qualify or the cost to get into a home is too much money.  It’s easier than you think to buy a home today, particularly with the Home Ready Program and the Cash Down Payment Assistance Program. Call me at 720-373-0654 and I’ll get you in the right direction.

ReColorado_LogoThe real estate market in Denver continues to thrive this summer. A good sign is the inventory of homes available has increased since just last month which allows for a little more selection but the demand is high which creates the opportunity for bid wars. The number of active listings is 6.9% above what it was this time last year. The median sold price year over year is up 10.8%, and the number of sold listings is down by 16.9% because due to lack of inventory. Homes are selling at a fast pace with an average of 20 days on the market. The average sales price in Denver is $418,747 and Sellers are getting 101% of their asking price on average.

Thinking of buying or selling a home, give me a call at 720-373-0654 to help you outline a strategy that will work for you. With over 35 years of experience selling Denver homes, you can rest assured that I know a few things about buying and selling residential real estate.

ReColorado_LogoTake a look at the Market Statistics for the Greater Denver Metro Area for the month of May 2016 RE-Colorado Monthly Indicators 2016-05. If you like stats, graphs, and charts to get the full picture of the real estate market then you’ll like these. To narrow down to a specific area of town or neighborhood, please call me at 720-373-0654 or email me at cheryl@DenverRealty.com.

Luxury house at night in Vancouver, Canada.

Courtesy of Jim Cimino at Fidelity National Title, June 1, 2015 (CNN Money)

Wonder where a dollar or say $2,000,000 can be stretched to buy that ideal home? The ultra wealthy need look no further.
In their Real Estate Special Report, CNN Money has published the following:
Manhattan – Oh Manhattan, where the median home price in the borough tips $955,000 – the highest level in more than six years. For just under $2,000,000 you can own a 1br/1.5ba, 1,100 square feet, one-bedroom condo in the Tribeca complex, comes in at more than $1,800 per square foot.
Paris – No doubt a bargain location as home prices have dropped 20%-25% from 2012. You can now fetch a 3br/2ba, 2,000 square foot apartment for $2,376,045 or if you insist on a view of the Eiffel Tower you will have to settle for 1,600 square feet.
Tuscany – For those who want a touch of the Italian countryside, there is a 5,704 square foot, 8br/6ba Tuscan villa (with a pool) in Lucca for just over $2 million. If you can wait a bit, prices are dropping a little, these days.
Ocean Ridge, FL – A bargain community compared to neighboring Delray Beach and Palm Beach, you can buy a 4,600 square foot, 4br/4.5ba, with a pool, water views and deeded beach access.
Playa Ocotal, Costa Rica – There is a private villa that has 6,499 square feet, 7br/7.5ba and will sleep 18 people for $2,200,000. Oh, by the way it comes with a view of the bay and its own sea breeze.
Toronto – Toronto, is a town where the prices are on the rise, according to Teranet-National Bank House Price Index. A relatively new (2013 build) 3,000 square foot, 4br/5ba home with 10’ ceilings.
Rio de Janeiro – If you’re thinking about moving south to Brazil, where the currency is shrinking, consider this bargain penthouse for $1,993.755. It is 2,282 square feet and sports 2br/2ba. But it does have a private pool and barbecue area.
Beverly Hills – Home at last! Rub elbows with the rich and famous, where prices jumped 6.7% last year, pushing the median home value up to $2,792,000. Among the $25,000,000 estates you can find this humble 2br/3ba, 1,787 square foot bungalow for $2,395,000 on Zillow. And it’s even located on a cul-de-sac.
Ok, maybe these properties aren’t exactly in within your budget, but they do make prices seem more reasonable here at home.

Buying a home freezes your housing expense!

Want to know the upshot of why and how buying a home today is better for you? Then tune into this video from the “National Real Estate Post” and then check out the upcoming Paying Too Much Rent event below on June 18th. Share this post and invite your friends to join you at the event below.