An exceptional gift idea is helping your relative or loved one with an interest rate or mortgage buydown (Photo: Pexels). The holiday season is upon us, and you may be thinking about finding a special or unique gift your family member or loved one could use for years to come. In my previous article entitled, […]
Do falling home prices offset higher interest rates?
Now that interest rates have risen from the 3.5% range to the 7% range, will home prices decline to balance out the purchasing power? Looking at historical evidence, it shows that sharply rising mortgage rates tend to slow home price appreciation and affect housing market activity. However, nominal price appreciation in most of Colorado remains […]
Are there alternatives to foreclosure?
The years 2007 to 2012 were pretty rough for homeowners across the nation. Boulder County didn’t suffer nearly as much as other markets, such as Las Vegas and Phoenix, where homes lost a considerable amount of value. Boulder County has experienced a strong real estate market since 2012 and is still showing considerable strength. If […]
Rising interest rates decrease purchasing power
In general, as interest rates rise, the homebuyer loses about 3% of purchasing power for every .25% in interest rate increase. Today’s market is tough on first time buyers. The inventory of homes and condos purchased by first-time buyers continues to be low, and along with inflation, home prices are being pushed upward in […]
The new reverse mortgage – Part 2
Colorado is one of the fastest aging states in the country and Boulder County is also rapidly aging. Reverse mortgages are becoming more popular as baby boomers retire and want to maintain their standard of living. The reverse mortgage is a financial tool, which has helped many over 62 years old. In my previous article, […]
The new reverse mortgage Part 1
When it comes to buying a home, you’re never too old. (Photo: Pexels). The Aging at Altitude Expo was held at the Boulder Jewish Community Center on April 23. One of the sessions at the conference explained reverse mortgages as a financial tool for those who are 62 years of age and over. The […]
Wondering if you’re too old to buy a home?
When it comes to buying a home, you’re never too old. (Photo: Pexels). In the spirit of the Daily Camera’s upcoming event, Aging at Altitude Expo, on Sat., April 23, I thought it would be a good time to talk about buying a home during your senior years. Many baby boomers did not buy a home […]
Co-signing a mortgage for a relative Should I or shouldn’t I?
Frequently, first-time homebuyers will turn to relatives to help with a down payment or to co-sign on the loan. However, all the parties involved need to be very aware of the pitfalls before agreeing to this arrangement. (Photo: Pexels). In Boulder County, home prices have risen to record highs in a housing market with […]