Friday, July 20, 2018 / by Kevin Schumacher
Many buyers are purchasing a home with a down payment as little as 3%.
You may already qualify for a loan, even if you don’t have perfect credit.
Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. ...
Monday, July 16, 2018 / by Kevin Schumacher
One of, if not the BIGGEST, misconception about real estate is that you must have a 20% down payment in order to purchase a home. We are here to tell you that is not the case. In fact, the Realtors Confidence Index from the National Association of Realtors just released that 61% of first-time homebuyers purchased their home with down payments below 6% in 2017. Just in March, 71% of first-time buyers and 54% of all buyers put less than 20% down!
The Denver Post released an article two days ago titled "Saving for a down payment could take Colorado renters nearly 12 years." The article uses simple math to estimate that with an average home price in Denver of $398,000 that a 20% down payment that you would have to bring to the table is $79,600. A large and rather scary number, especially to the first time homebuyer! This information alone can have buyers disqualifying themselves without even trying.
The Aspiring Home Buyers Profile from . ...
Monday, July 2, 2018 / by Jordan Waters
Market Updates by County
The summer housing market is in full swing and there is an overstock of buyers in the Northern Colorado market. Compared to this time last year, Single-Family home prices have increased by 8.9% in Larimer County bringing the average home price to $462,358. The average home price has increased by 7.9% in Weld County to $381,489. While average home prices have increased we are seeing a lower inventory of homes for sale in both counties compared to 2017.
Click Here to read the full report for Larimer County
Click Here to read the full report for Weld County
Similar to the Northern Colorado market, home inventory for buyers is the biggest hurdle Realtors® are facing. Earlier this year the average home price in Denver crossed the 1/2 a million mark. Home values are still on the rise with the average home price in Denver currently at $578,670, an 11.6% increase from 2017-2018.
Click Here to read the full report for ...
Monday, July 2, 2018 / by Kevin Schumacher
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. The market will continue to strengthen in 2018.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. Buyer demand naturally increases during the summer months, but supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
Lawrence Yun, Chief Economist at National Association of Realtors
“The worsening inventory crunch through the first three months of the year inflicted even more upward pressure on home prices in a majority of markets. Following the same trend over the last couple of years, a strengthening job market and income gains are not being met by meaningful sales gains because of unrelenting supply and affordability headwinds.&rd. ...
Tuesday, June 26, 2018 / by Kevin Schumacher
June is National Homeownership Month and what better way to celebrate homeownership than with renovations that make you fall in love even more with your property! Especially in our market here in the Front Range we see homeowners who don't necessarily get to move into a home that has the exact finishes they were originally wanting, therefore they look into the option of renovation!
Houzz just conducted their yearly home study survey where they analyze renovation trends and for 2018 they determined that half of homeowners (51%) plan to begin or continue renovations on their home with the median renovation spend of $10,000.
One thing is certain, if you are deciding to take on the task of a home renovation project during 2018 you will want to maximize your return on your project! Here is an updated infographic of the Top 4 Home Renovations for Max ROI.
Whether you are selling your home, just purchased your first home or are a homeowner plannin ...