Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 13

Home Affordability at Historical Highs

by Alan Daniels

Colorado Springs and surrounding areas have seen an interesting dynamic form on Home Affordability.  Home Affordability is at historically favorable levels for buying a home while at extremely unfavorable levels for renting a home.  The years in the market downturn show that home affordability was off the charts when there were more distressed properties selling between 2009 and 2016.  The market is still showing that home affordability is at high levels in the current market as detailed in the following chart (the higher the graph the more affordable homes are).

Mortgage Payments are at historical lows when looking back.  Note that 2012 is skewed due to the number of distressed sales at the time.

Colorado Springs Homes For Sale - Buyers Mortgage Payments

Conclusion:

  • If you are in the market to buy a home in the near future be sure to act while the Home Affordability Index is so favorable.

  • If you are renting, you are most likely seeing a rent increase of 5+% annually and paying hundreds of dollars over what a mortgage would be.

  • Contact your Colorado Springs Real Estate Agent to help you expand on this along with your options whether short or long term.

Low Interest Rates Make Huge Difference on Your Purchasing Power

by Alan Daniels

Interest rates for a 30 year fixed rate mortgage are currently around 3.92% according to Freddie Mac's latest Primary Mortgage Market Survey which is still near record lows when comparing to the last 50-60 years.  Your purchasing power and the amount of home you can afford is greatly impacted by the interest rate you secure when buying a home so make sure to plan out your 2018 plans in a winning way.  

Purchase Power Defined - The amount of home you can afford to buy for the budget you have available to spend.  The price of house you can afford decreases as rates increase.  Note:  The same applies as housing prices go up.

The graphic below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month.

Colorado Springs Homes For Sale - Buying PowerWith each .25 percent increase in interest rate, the value of the home you can afford decreases by 2.5% (this example shows $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Home Appreciation Factor - Homes locally could increase in value by around 6% in 2018.  So in this example your dream home of $400,000 could turn into $424,000 by year end pushing your purchase power even further down.

Conclusion:

Make sure you schedule a meeting with your Colorado Springs Realtor to better advise you on your plans and what is best for your situation no matter how far out your home buying plans are.​​

Where Are Interest Rates Going in 2016?

by Alan Daniels

Interest Rate Forecast and Colorado Springs Homes For Sale

Colorado Springs Home Loans - Interest Rates

Prices of homes in Colorado Springs and interest rate forecasts are extremely important to consider this year. Thinking of buying a home in 2016 or know someone who is? Rates are forecasted to go up as are home prices in Colorado Springs which could quickly effect the amount of home you'll be able to buy. Take a look at this projection chart above and see if finding a home in 2016 makes financial since to you or anyone else you know who is on the fence.

Houses in Colorado Springs are going up in value while rents are rising at massive rates so make sure to take action and begin researching your options.

Why Real Estate will Build Your Family Wealth Over The Next 5 Years

by Alan Daniels

The economy has been improving and Americans personal financial situations have also improved.  Many are now beginning to save and find the best ways to build their net worth.  Real estate is one of the top ways to dramatically increase your family's wealth.  

Take a look at this example based on market forecasts where a young couple purchases a home for $250,000 and makes over $42,000 in potential growth in family wealth over the next five years.  Definitively blows away renting while your landlord increases their wealth on this principle.

Next step is buying real estate as investments where you can multiply this increase in personal wealth.  Want to see what is available in your price range for a personal residence or investment?  Click Here to view all Colorado Springs homes for sale

Newest Colorado Springs Listings

by Alan Daniels

Wanting to see the latest up to date Colorado Springs listings before other home buyers do?  Don't rely on any of the unreliable national websites where we have seen listings outdated by as much as 8 months to a year.  Be sure to checkout our advanced Colorado Springs home search that is updated multiple times per day with all the details you want to make your search a breeze. 

Here are two links for your convenience:


January Update:  Listing Inventory is on the rise.  Sellers this is a good time to list before the summer competition hits.  Buyers this is a good time to start looking as inventory finally starts to increase following the holidays.

See All New Listings and Price Reductions!

by Alan Daniels

Check out these new resources!

Newest Listings on Market - Stay on top of the newest listings on market to find your dream home before someone else does.  There are currently over 4,000 listings in our local MLS so this is a great way to see what is new and has the most potential compared to stale listings that have been on market since you graduated from High School.

Price Reduced Search -  Want to get a jump on the latest price reductions on market?  This is a great way to track the latest price reductions on market.  Another great way to view the freshest listings on market while other buyers are stuck trying to weed through over 4,000 listings.  Another reason why we have one of the Top Home Searches in the Pikes Peak Region.

Newest Colorado Springs Homes For Sale

5734 Gallantry Ln - Colorado Springs Featured Listing

by Alan Daniels

Indigo Ranch Homes For SaleNew listing in Chaparral Point at Indigo Ranch. This charming home is located right across the street from a park and has incredible views of Pikes Peak.  This home boasts a large living room with a gas fireplace and beautiful laminate wood floors.  Enter into the dining room with tile floors and access to the backyard. There is a good sized kitchen with nice appliances and a center island next to the dining room. A half bath, laundry and man cave complete the first floor. Upstairs are three bedrooms and two full baths. The master has a walk in closet and dual sinks in the bath. In the back I a nice patio and yard fully fenced. Along with the tandem two car garage. Close to the powers corridor with shopping, dining, movie theater and lots more.

Click Here to find more info and photos on this wonderful Indigo Ranch Home.

Checkout Our New Home Search with Top Resources!

by Alan Daniels

Colorado Springs Homes For Sale

We are proud to announce that we have upgraded and launched our New Home Search Resource.  Click Here to take a look at it to see why it is one of the best home searches in Colorado Springs and Monument.  Here is a list of just some of the best tools the search provides.

  • Search thousands of listings in the Pikes Peak Region.
  • View tons of details, photo slideshows, virtual tours and more.
  • View various map views with points of interest, get directions and more.
  • Search by map to find homes near points of interests.
  • View the newest added listings on market and most recent price reductions to get a jump on the best homes before other buyers do.
  • Checkout the Lifestyle portion of the search that lets you search by importance of highly rated schools, low crime ratings, median home income, type of neighborhood, cost of living and commute time.
  • Find Luxury Homes in Colorado Springs and surrounding areas.
  • Find New Construction and New Homes in Colorado Springs and surrounding areas.
  • Search All Foreclosure Properties.
  • Search by city, zip code, address, subdivision/neighborhood, school district, MLS number, MLS area
  • Create a search alert to update you with matching properties instantly.
  • Save and organize favorite listings and previously viewed homes.
  • Choose from tons of criteria to find the best matches for you.
  • Updated multiple times a day to provide the most recent and relevant results.  Don't count on other outdated searches as this search allows buyers to find the best home first.

1985 Bucolo Ave - Colorado Springs Featured Listing

by Alan Daniels

1985 Bucolo Ave | Colorado Springs | Claremont Ranch

Wow!  This is a must see Former Model Home in Claremont Ranch. This 2 story home has it all with stainless appliances, corian counter tops, carpet, wood , tile, vaulted ceilings, custom 5 piece bath, 2 full baths and a half bath. Located in a family neighborhood, near schools and shopping and dining. Included with this great home are custom window treatments and a built in home speaker system. Fully fenced with a 10 x 8 composite deck in the back and a 17 x 6 covered front porch.  Lots of room to entertain!

Click Here to Find more info and photos on this Claremont Ranch Home

Must Have Buyer Tools and Resources

by Alan Daniels

Colorado Springs Real Estate ToolsThe market has shifted and home buyers are trying to get a jump on the newest inventory of homes before they get snapped up.  Inventory is shrinking while buyer demand is remaining steady.  Now is the time to take advantage of the bottomed out market and low interest rates but you will need some help.  Here are some resources and tools that will get you into your perfect home. 

 

Displaying blog entries 1-10 of 13

Syndication

Categories

Archives

FOLLOW US ONLINE

Like Daniels Team Real Estate     Daniels Team on Youtube          Daniels Team on Twitter    Colorado Springs Short Sale Realtors    Colorado Springs Realtor