Start getting informed and you'll become a better buyer
When do you know the best time to buy a new Home?
Certainly nobody can pick the bottom of any market with absolute certainty. Today, most Colorado
home buyers still perceive the housing market to be a buyers market. Actually it is a good time to buy,
but how good depends on where you want to purchase and how much you plan to spend on a home.
When it comes to negotiating the sales price between buyers and sellers, the advantage tilts slightly
toward the seller in lower costs homes. The market is close to balanced for mid range and the buyer
does have the advantage in homes priced above 500k. The biggest hurdle for buyers to overcome
today is qualifying for a new loan. To purchase any property you must meet much tougher lending
requirements. Lenders have shifted from very loose lending policies to very tight policies. Let me
know if you need help finding a qualified lender.
Don't miss this perfect storm of buyers opportunities
List prices are down considerably from 2008 and interest rates are now at historic lows. The current
rates can be viewed to the left of this text. Rates are likely to remain very low through June 2012
because of "Operation Twist". The Federal Reserve’ pledge to keep its benchmark interest rate at a
record lows, at least through mid-2013 will likely keep mortgage rates from rising significantly.
Forget trying to pick the bottom
The current rates are so good that most buyers would benefit more by making sound personal
decisions than attempting to time the market. The amount of homes listed in the Denver metro area
is down nearly 40% from just a year ago. Home values are flat but stable the market now has much
more upside than down, especially as foreclosures decline from their peak in 2010. Buyers worried
that prices will continue to go lower can choose to remain conservative and make a more modest
purchase. Take advantage of today's incredible real estate values and historically low interest rates.
You won't regret it!
Westminster zip codes 80003 80005 80020 80021 80023 80030 80031 80221 80234 80241 80260
Broomfield zip codes 80020 80021 80023
Thornton zip codes 80023 80221 80229 80233 80241 80260 80602
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