Thursday, December 13, 2018 / by Jordan Waters
Over the past few years, two trends have emerged in the housing market:
Home renovations have shot up
Inventory of homes available for sale on the market has dropped
A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.
This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.
According to Home Advisor, homeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.
A new study from Zillow asked the question,
Friday, August 24, 2018 / by Jordan Waters
There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage.
Don’t Become Trapped
A recent article by Apartment List addressed rising rents by stating:
“Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth now stands at 1.2 percent.”
The article continues, explaining that:
“Rents increased month-over-month in 62 of the nation’s 100 largest cities, down significantly from the 85 cities that saw rents rise last month. That said, rents are still up year-over-year in most of the nation’s largest markets — 77 of the 100 largest cities have seen rents increase over the past twelve months.”
Additionally, Urban Land Magazine explained that,
“Currently, nearly hal! ...
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 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 ...
Tuesday, June 12, 2018 / by Kevin Schumacher
People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOTa good time to rent.
The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:
As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.
One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today! ...