Housing… it’s apparently all about housing. Recent voter polls show housing is the major concern as we close in on election day. Most voters have a high level of confidence in the local economy, including jobs, and cost of living. The exception to this is the Colorado Front Range high housing costs.
While we have seen steady appreciation and strong growth in the regional housing market, there has been a bit of an easing in residential home sales.
The place where we see a much stronger and for some, disconcerting, change is in the rental market. As residential rental rates continue to climb at a quick pace, buying versus renting is looking once again like a decent option.
New home construction is on a steady upswing, and the builders are still offering some pretty heavy incentives for new home buyers. Buyers looking at new construction can get a pretty great deal, if they choose to use the builder’s ‘in house’ lender. Be sure to ask your Realtor to go with you to view new construction and work with you to get the most incentives you can.
It’s true that interest rates have been on a slow and steady rise. With the long bond sitting today at about 3.225 (up slightly this week), and typical margins from lenders running about 2.05 you’ll still get what would be considered an historically good interest rate on a new home mortgage.
Ballots hit the mail beginning Monday, and Colorado residents can vote up until November 6th.
Thinking about buying a new home, or getting ready to sell? Call me today!
Zachary Epps, GRI®, ABR®, MCNE®, CLHMS®, SRES®, REALTOR®,
RE/MAX Hall of Fame, RE/MAX Platinum Club
I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.
Also, I’m never too busy for your referrals. As a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful RE/MAX Professional.