To keep yourself healthy, you make sure to schedule an annual physical. To maintain your financial well-being, it is essential to schedule an annual real estate checkup. November is a great time to conduct that review so you can make any adjustments in the year ahead. If you’re not a homeowner yet or don’t own […]
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 […]
Finding the Sun: Knowing Where the Sun is Relative to a Home
Where and how much natural sunlight illuminates the home throughout the year affects a variety of factors. (Photo: Pexels). When buying a home, many of our homebuyers will ask, “Where is the sun?” The immediate answer is “look up and see!” However, it is a bit more complicated than that. It’s essential to know where […]
Finding financing for renovation or house flipping
Sometimes the condition of the home to be renovated keeps the buyer from obtaining more traditional financing for the purchase. (Photo: Brett Jordan, Unsplash). The housing supply in the core and close-in areas of our Front Range cities is aging, especially in the single-family home category. There is a strong desire to live in […]
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 […]
Financing options when interest rates rise
The 30-year mortgage has been the mainstay of American homebuying for decades. The 30-year mortgage came about as a result of the housing crisis of the 1920s. Back then, a typical mortgage was three to five years with a variable rate, and payments only covered the interest. Often, large down payments were required. The most […]
Rising mortgage rates…To lock or not lock? That is the question!
To lock or not to lock, that is the home buyer’s choice. However, buyers need to understand this is a commitment from both the mortgage lender and themselves to close at the agreed upon interest rate. (Photo: Pexels). Over the last several years we have enjoyed record-low mortgage rates with a sense of stability. The most […]
June is Homeownership Month because homeownership matters
In 2022, homeownership is more important than ever before in the U.S. We live in a world that pressures us to rent everything – and love it. Think about it: we can rent a scooter to get around, we can use an app for car rides, we can rent clothing, we can rent workspace, we […]
Archaeology and Historic Preservation Month in Boulder
The Landmark Designation’s purpose is to honor, preserve, and protect buildings and areas that showcase the past. (Photo: Pexels). Boulder County has a rich history and residents actively want to preserve aspects of that past. Every May, Boulder County’s legacy is honored during Archaeology and Historic Preservation Month. In 1974, the City of Boulder created […]
Fair housing month
Fair Housing Month signifies a continued commitment by Realtors® across our country to expand equal access to housing. (Photo: Pexels). The Fair Housing Act was passed in April 1968. Every April since then, the National Association of Realtors® (NAR) has commemorated its passage with events and education that underscore the need to expand inclusion and […]