Real Estate News - Denver, Colorado - Blog Archive: March, 2014

March 2014

Found 10 blog entries for March 2014.

Denver Homes For Sale

In a recent survey done by the PulteGroup, they revealed that the Millennial generation has a more optimistic outlook regarding the American economy than other generations. According to the survey, 54percent of Millennials believe the economy is in better shape today than it was last year compared to only 41% of the total population.

It seems this optimism is impacting purchasing decisions as 74% of Millennials view now as an excellent or good time to buy the things they want or need, call Craig Adelman today at 303.809.8979. Jim Zeumer, vice president of corporate communications for the PulteGroup explained:

"No other cohort of adults is nearly as confident about their economic future as the millennials are right now. This is definitely a

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HousingWire asked David Berson, chief economist at Nationwide, for his take on the near-term future of housing. Here is what Mr. Berson believes to be the three things you need to know about Denver housing in 2014.

#1: 2014 should prove to be the strongest year for housing activity since before the Great Recession

“Most economists expect an improved job market in 2014, with employment growth accelerating and the unemployment rate continuing to decline. That jobless rate drop will reflect more of a pickup in employment than further declines in the labor force participation rate. This will be the key factor improving housing demand this year, even if mortgage rates rise and affordability declines. While the housing market tends to do especially well

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Denver interest rates

"One thing seems certain: we aren't likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012."

Says, - Freddie Mac,  March 24, 2014

There are those that hope that 30-year mortgage interest rates will head back under 4%. Obviously, for any prospective home purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to the less than 3.5% rate of 2012.

Freddie Mac, in one of four original posts on their new blog, explained that current rates are still extremely low compared to historic averages:

"The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 –

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The National Association of Realtors (NAR) released their latest Existing Homes Sales Report last Friday. The year-over-year comparison of overall sales did not look very appealing. NAR itself called the sales numbers “subdued”. Other media sources used stronger terminology.

There is no doubt that home sales were lower this February (4.60 million) than last February (4.95 million). However, a closer look at the report gives us some evidence as to why that is. Last year, of the 4.95M homes that were sold, 25% were distressed properties (foreclosures and short sales). This February, only 16% of sales were made up of distressed properties!

WHY IS THIS IMPORTANT?

Well, if we do the math, we can see that the annualized number of non-distressed

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We have often suggested that potential home buyers consider rising interest rates when thinking about the true cost of a home. Remember, cost is not determined by price alone but by price and mortgage rate. The longer a buyer waits, the higher the mortgage payment will be if rates continue to increase (as is projected by Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association).

Money Magazine, in its latest issue, agreed with our analysis as they also warned their readership of the same ramification if they waited to buy a home.

Here is what they said:

"BE MINDFUL OF RATES. The average interest rate on a 30-year fixed loan is predicted to climb from the current 4.4% to 5.3% by the 2015 spring buying

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Are you looking for a great home with a yard to play and entertain in?  6807 Duquesne Court is for you!

 Model Home Loaded with upgrades inside and out! You will be Amazed by this home and Lot! , Awesome Yard almost a 1/2 Acre with Mountain Views, Play area and Basket Ball court in the park like yard, Professionally finished basement with bed, bath, and huge storage area, basketball court, playground area, Huge lot on a cul de sac, 2 hot water heaters, whole home speakers, coffered ceiling, crown molding, upstairs laundry room with sink, 3 car garage, garage access door to backyard, Coyote Ridge Elementary, Cherry Creek 5 School District, this home will blow you away!

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 Are you considering Moving-Up to a New Denver Home? 

Move up in Denver

A recent study revealed that the number of existing  Denver home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today™s blog post.

There is no way for us to predict the future but we can look at what happened over the last year. Let™s   look at buyers that considered moving up last year but decided to wait instead.

Assume they had a home worth   $300,000 and were looking at a home for $400,000 (putting 10% down they   would get a

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Buying a Home: Should You Do it Now or Later?  

Buy Now if you can, Rents in Denver and Colorado Going Up!!

 Last month, the Federal  Reserve, in a unanimous vote, decided to further decrease its bond   purchasing. The bond purchases were the government’s stimulus package created   to keep long term mortgage interest rates artificially low in order to help   drive the housing market. Most experts believe that tapering will cause   interest rates to increase as we move through the year.

Interest rates have remained  relatively stable since the onset of the tapering in December. This is   probably because the first round of increases had already been ‘priced into’   the equation last summer when rates skyrocketed by

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Should I Rent My Denver Area House If I Can't Sell It?

Home For Rent

A recent study has concluded that 39% of buyers prefer to rent out their last residence rather than sell it when purchasing their next home.

The study cites that many homeowners were able to refinance and “locked in a very low mortgage rate in recent years. That low rate, combined with a strong rental market, means they can charge more in rent than they pay in mortgage each month, so they are going for it.”

This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for. Are you

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New program offers No Down Payment Loan