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[MARKET UPDATE] Front Range Real Estate April 2022

Tuesday, April 12, 2022   /   by Kevin Schumacher

[MARKET UPDATE] Front Range Real Estate April 2022

 
If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.
 
If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity.
 
1. The Number of Homes on the Market Is Still Low
 
Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house.
 
Listing your house now makes it the center of attention. And if you work with a real estate professional to price your home correctly, you can expect it to sell quickly and likely get multiple strong offers this season.
 
2. Your Equity Is Growing in Record Amounts
 
According to the most recent Homeowner Equity Insight report from CoreLogic, homeowners are sitting on record amounts of equity thanks to recent home price appreciation. The report finds that the average homeowner has gained $55,300 in equity over the past year.
 
That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help fuel your move. It may be just what you need to cover a large portion – if not all – of the down payment on your next home.
 
3. Mortgage Rates Are Increasing
 
While it’s true mortgage rates have already been climbing this year, current mortgage rates are still below what they’ve been in recent decades. In the 2000s, the average mortgage rate was 6.27%. In the 1990s, the average rate was 8.12%.
 
For context, the current average 30-year fixed mortgage rate, according to Freddie Mac, is 3.85%. And while recent global uncertainty caused rates to dip slightly in the near-term, experts project rates will rise in the months ahead. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:
 
“For homebuyers, we believe that borrowing costs will likely rise with the increase in mortgage rates….”
 
When that happens, it’ll cost you more to purchase your next home. That’s why it’s important to act now if you’re ready to sell. Work with a trusted advisor to kickstart the process so you can take key steps to making your next purchase before rates climb further. Home prices have been skyrocketing in recent years because of the imbalance of supply and demand. And as long as that imbalance continues, so will the rise in home values.
 
The bottom line is if you want to win when you sell and when you buy, this spring could be your golden opportunity. Let’s connect so you have the insights you need to take advantage of today’s incredible sellers’ market. Enter your address here to instantly calculate your home’s value in today’s market based on recent Northern Colorado sales.

If you have any questions about the market or are thinking about buying or selling, don’t hesitate to call me at (970) 396-7248 or email me. I'm here to help you meet your real estate goals in this shifting market!

Let's now break down the numbers here in the Front Range Colorado!

April 2022


If you have any questions about your equity position, contact me or anyone from our team!

Cell # (970) 396-7248 | Team # (720) 230-3030 | Kevin@KevinSellsCO.com
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All data is based on information from IRES inc, METROLIST inc, DBA RECOLORADO® and Matrix v7.1. CoreLogic. Data reflected includes attached dwellings in each cities market. The Kevin Schumacher Team nor eXp Realty LLC does not provide any guarantee and is not responsible for accuracy. Data maintained by IRES inc. and METROLIST inc. may not reflect all real estate activity in the market. The statements and opinions contained in this advertisement are solely those of the individual author and do not necessarily reflect the positions or opinions of eXp Realty, LLC, or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information provided.

The Kevin Schumacher Team at EXP Realty, LLC
2580 East Harmony Rd. Suite 201
Fort Collins, CO 80528
720-230-3030

Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © 2020 IRES. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS or eXp Realty LLC. *Not intended to solicit buyers under buyers agency, not intended to solicit listings currently listed.*The statements and opinions contained in this advertisement are solely those of the individual author and do not necessarily reflect the positions or opinions of eXp Realty, LLC, or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information provided.
Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © 2022 IRES. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated June 29, 2022 11 PM. Information deemed reliable but not guaranteed by the MLS or Kevin Schumacher - The Kevin Schumacher Team / EXP Realty, LLC.
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