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Blog The Best News The best news in a long time has finally arrived for buyers. Inventory is up, frenzy is down. Buyers who were frustrated, confused and disappointed by the market a few months ago are now coming back to find a much more reasonable environment. Demand is still high for sure.  However, the intense, frenzied competition has […]
Blog Timber! A positive outcome of the cooling housing market is lower lumber prices. Lumber is now priced at $605 per thousand board feet.  This is a new low for 2022. Prices for lumber are now down 47% for the year and are well below the 2021 peak of $1,733 per thousand board feet. What’s causing this?  […]
Blog What We Notice Here is what we notice about the market right now: Listings are receiving fewer offers compared to 60 days ago – instead of 10 offers, a listing might have 2. There are now several instances of a listing only having one offer. Sellers who were overly-aggressive with their list price have to quickly reduce in […]
Blog Inventory Bottom In Front Range markets, the number of homes for sale has just hit bottom or is about to hit bottom. This is terrific news for home buyers who have been waiting for more homes to choose from. The market is shifting, there is no doubt about that. Prices are still increasing and we expect them […]
Blog Delinquent Indicator A leading indicator of the health of any real estate market is Mortgage Delinquencies. Specifically, the percentage of mortgages which are at least 30 days delinquent can foretell the amount of distressed properties that may hit the market in the future. The most recent research shows that only 4.11% of all loans are delinquent. This […]
Blog Half A Month There is half of a month of inventory on the market.  In other words, at the current pace of sales, it would take just two weeks to sell all of the homes currently listed for sale along the Front Range. By definition, a market is balanced when there is 4 to 6 months of inventory.  […]
Blog Interest-ing The recent increase in mortgage rates has started some home buyers to look at programs that have fixed rates for 7 years or 10 years instead of 30 years. If a buyer believes it is likely they will move or even refinance within this timeframe, these types of programs can be a good option. The […]
Blog Rate Perspective Given the recent increase in mortgage interest rates, we think a little perspective is in order. The average 30-year rate for the last 40+ years is 7.5% Rates are now back within the range where they were between April 2018 and February 2019 Between January 2000 and December 2009, the high was 8.15% and the […]
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Blog Buy Before 5 30-year mortgage rates just exceeded 4% for the first time in three years according to Freddie Mac. We have new advice for anyone considering a home purchase in the next couple of years. Buy before 5.  This means buy before rates go to 5%. Even though rates have been ticking up over the last several […]
Blog Farmhouse Interior Design Known for its signature chic comfort, the farmhouse style is a popular method of interior design for homeowners looking to blend elements of modern and traditional design. With a rustic charm at its heart that recalls images of the countryside and wide-open landscapes, the farmhouse style steadily picked up steam in the 2010s and continues to […]
Blog New Construction: Why Work with a Buyer’s Agent? If you’re a buyer, you may have considered purchasing a new construction home. After touring the model home and talking to the builder’s sales representatives, you begin to wonder if it’s necessary to work with a buyer’s agent. Although it’s possible to move forward with the purchase of a new construction home without a buyer’s […]
Blog 3.2 Trillion The new CoreLogic Homeowner Equity Insights report shows that homeowners in the U.S. have seen their equity increase by a total of $3.2 trillion over the last 12 months. Their data shows that 63% of all homes have a mortgage. On average, U.S. homeowners gained $55,000 while the average increase in Colorado was higher at […]
Blog Simple Tips to Make Your Move Easier Your needs as a homeowner change over time, and you need the right home to fit those needs. Accordingly, it’s highly likely that at some point in your future you will experience another moving day. While moving can be challenging, there are resources to make it easier. If you are remaining in your current area, […]
Blog War and Interest Rates Our clients are curious to know what the conflict in the Ukraine will mean for mortgage rates. The short answer is down in the near term and up in the long term. Generally speaking, economic and political uncertainty drive people to invest in bonds rather than stocks, which puts downward pressure on interest rates. So, […]
Blog 5 Ways to Create a Sustainable Kitchen In many ways, the kitchen is the heart of a home. All the time spent making delicious food, sharing recipes, and enjoying meals with loved ones gives it a central role in home life. A consequence of the time spent in the kitchen is the creation of waste. But by adopting more sustainable practices in […]
Blog Money at a Discount This week, for the first time in 32 months, mortgage rates hit 4%. While this increase may feel painful for buyers currently looking at property, it is important to put today’s rates in perspective. We believe we will look back a few years from now and see that a 4% rate was like buying money […]
Blog Should I Remodel or Sell My Home As Is? Homeowners who are preparing to sell are often faced with a dilemma about whether to remodel or sell their home in its current state. Each approach has its respective advantages and disadvantages. If you decide to remodel your home, it will likely sell for more; but the increased selling price will come at the cost […]
Blog Rent Record Records continue to be broken in real estate, including the rental market. Rents just rose another $2 per month to $1,594, a new record. The annual rent growth of 13.5% nationally in 2021 was more than double any previous year, and apartment absorption counted nearly 600,000 units, which is roughly 50 percent more than the […]
Blog 7 Signs You’re Ready to Buy a Home Making the leap from renter to homeowner doesn’t happen overnight; it requires steady planning to put yourself in a good position to buy your first home. Prospective first-time home buyers can often feel like they’re waiting for a sign to indicate they’re ready to start making offers, when really, it’s a combination of factors. Here […]
Blog Must-Haves and Nice-To-Haves Lists Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious home buyers to save time, energy, and ultimately, money as they prepare to buy a home. A Must-Have List is exactly what it […]
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