In the face of increasing mortgage rates, looming inflation, and recession rumors, many potential homebuyers find themselves asking: is buying a home in this climate a wise move? This year certainly brings its own set of challenges for buyers. However, the long-term rewards of homeownership should not be overlooked when contemplating this decision.
Think about those in your circle who purchased a home 5, 10, or even 30 years ago. Chances are, you'll struggle to find anyone who regrets that choice. The secret behind this satisfaction lies in the appreciating value of homes over time and how this growth catalyzes your personal wealth accumulation. This might be why, according to a recent survey by Fannie Mae, 70% of respondents believe that buying a home is a secure investment.
Let's delve into how the value appreciation aspect of home ownership can significantly accumulate wealth over the years.
The map below presents data from the Federal Housing Finance Agency (FHFA), spotlighting the impressive price gains over the past five years. Considering the varying price trends across regions, the map provides a regional breakdown, helping illustrate larger market tendencies.
Looking at the percent change in home prices, you'll see that, on average, home prices rose by just over 56% nationwide over a five-year period.
Some regions deviate slightly from this average, but overall, home prices have gained solid footing in a relatively short period. By expanding this time frame, the benefits of homeownership and the striking gains homeowners have made over the years become even more apparent (see map below):
The second map illustrates that home prices, on a national scale, appreciated by an average of over 290% over approximately a 30-year span.
This average paints a picture of a typical homeowner who bought a house 30 years ago and saw their home almost triple in value during that period. This element of wealth growth is a critical reason why so many homeowners who purchased their homes years ago remain content with their decision.
There were whispers in late 2022 about an impending crash in home prices, but that prediction did not materialize. Even though home prices have cooled from the record highs witnessed during the 'unicorn' years, they are already bouncing back in many areas today. Therefore, in most markets, your home should appreciate in value over the next year.
The alternative to buying a home is renting, but rental prices have consistently been on an upward trajectory for decades. Rather than grappling with annual lease hikes and gaining no long-term financial benefits, why not consider the possibility of homeownership?
If you're contemplating whether buying a home today still holds merit, it's crucial to remember the substantial long-term benefits that homeownership can provide. If you're ready to discuss this potential life-changing decision, don't hesitate to reach out. Let's connect and explore the possibilities.
Introducing the Turnberry Collection in Elevations at Murphy Creek by Montano Homes in the very Popular Murphy Creek Golf Course Community
Murphy Creek, June 27, 2023 - We are thrilled to announce the highly anticipated launch of our brand new home community nestled within the prestigious Murphy Creek Golf Course Community. These elegant and thoughtfully designed duplex homes offer a luxurious living experience that combines the tranquility of a golf course setting with the comfort and convenience of modern amenities. With prices starting from the high $400's, this is an exceptional opportunity for homebuyers seeking sophistication, style, and affordability.
Located in the heart of Murphy Creek, our new home community boasts an enviable address that is highly sought after by those who appreciate the finer things in life. The Murphy Creek Golf Course, renowned for its links design, is just steps away from your doorstep, offering residents the perfect escape for relaxation and recreation.
These duplex homes have been meticulously crafted to provide a harmonious blend of architectural elegance and contemporary functionality. Each residence features an array of luxurious features and finishes, including spacious open-concept layouts, gourmet kitchens equipped with top-of-the-line appliances, beautifully appointed bathrooms, and ample storage space. The homes have been designed to optimize natural light, creating an inviting and airy ambiance throughout.
Beyond the individual homes, residents will have access to an array of community amenities designed to enhance their lifestyle. Enjoy leisurely walks around the neighborhood and you'll find a vibrant and friendly community of residents who share your passion for golf and outdoor activities. Whether you're looking to hit the links, or enjoying a quiet walk through the Murphy Creek neighborhoods, there's something for everyone at Elevations at Murphy Creek, offering the perfect balance of serenity and community engagement.
"Our new home community in Murphy Creek is a testament to our commitment to delivering exceptional quality and value to our homeowners," said Rob Montano, CEO of Montano Homes. "We have carefully designed these duplex homes to meet the needs and desires of today's homebuyers, ensuring that they can enjoy the best of both worlds - a premium golf course setting and a beautiful, comfortable home."
The high $400's pricing of these duplex homes makes them an attractive option for discerning homebuyers who appreciate the value and potential investment return of living in a desirable location. The prime location, combined with the impeccable craftsmanship and attention to detail, positions this community as one of the most sought-after residential developments in Murphy Creek.
Prospective buyers are invited to visit our sales center, conveniently located at 1249 S. Algonquian St. Aurora, Colorado 80018, to explore the floor plans, view model homes, and discover the unique lifestyle opportunities offered by this new home community. Our knowledgeable sales team will be on hand to guide visitors through the homebuying process and answer any questions they may have.
For more information about this exciting new home community in the Murphy Creek Golf Course Community, please visit our website at www.Montano-Homes.com or call Daniel Strough at 714-477-3779 or Bill Watson at 303-842-0836.
About Montano Homes: Montano Homes is a local homebuilder with a rich legacy of creating exceptional residential communities. With a focus on craftsmanship, innovation, and customer satisfaction, Montano Homes has been recognized as a leader in the industry. Each development is carefully planned to offer homeowners a unique living experience that exceeds expectations. Montano Homes Where Your Home is Our Reputation!
Media Contact: Bill Watson / Your Home Sold Guaranteed Realty - The Watson Group / email@example.com/303-842-0836.
New Home Duplex Community Reaches Milestone: Only 6 Homes Remain!
Denver, Colorado – Montano Homes, a leading real estate developer, is thrilled to announce that Elevations at Highline East in the Dayton Triangle, our premier home duplex community, has reached a significant milestone, with over half of the homes now sold out. This remarkable achievement highlights the tremendous demand and success of our innovative development in meeting the needs and desires of modern homebuyers.
Since its grand opening earlier this year, Highline East has captivated the attention of discerning home seekers seeking a blend of luxury, comfort, and convenience. Nestled in the heart of the Dayton Triangle, this community has been meticulously designed to redefine the concept of modern living. Offering a distinctive combination of elegant architecture, thoughtful floor plans, and exceptional craftsmanship, Highline Ease has proven to be an unparalleled residential destination.
With over 50% of the homes already sold, Montano Homes is proud to witness the overwhelming response from homebuyers who recognize the extraordinary lifestyle offered at Highline East. Each home has been carefully crafted to provide spacious living areas, stylish finishes, and an array of desirable amenities, ensuring that residents experience the utmost comfort and satisfaction.
"Our team is thrilled by the positive response and the significant progress we have achieved at Highline East," said Rob Montano, President at Montano Homes. "The sales success demonstrates the trust and confidence that homebuyers have placed in our vision, quality craftsmanship, and commitment to delivering exceptional living spaces."
Residents of Highline East enjoy more than just beautiful homes. The prime location provides easy access to Cherry Creek Schools, Cherry Creek Reservoir, Cherry Creek Mall, Fine Dining, Downtown Denver and DIA offering a perfect balance between urban convenience and suburban tranquility.
As Highline East continues to attract homebuyers from all walks of life, Montano Homes is committed to maintaining the highest standards of excellence throughout the construction and development process. With the remaining homes generating significant interest, now is the perfect time for potential homeowners to seize this exceptional opportunity and become part of this thriving community.
For more information about available homes and to schedule a personalized tour of Highline East, interested homebuyers are encouraged to visit www.Montano-Homes.com or contact Daniel Strough at 714-477-3779 or Bill Watson at 303-842-0836.
About Montano Homes: Montano Homes is a leading real estate developer renowned for its commitment to creating exceptional residential communities. With a focus on innovative design, quality craftsmanship, and superior customer service, Montano Homes is dedicated to exceeding the expectations of modern homebuyers. Montano Homes, Where Your Home is Their Reputation!
Media Contact: Bill Watson, CEO, Your Home Sold Guaranteed Realty - The Watson Group, firstname.lastname@example.org, 303-842-0836
Choosing to sell your home is an intricate decision, one that requires careful thought and planning. Some homeowners venture into this journey solo, opting for a For Sale by Owner (FSBO) approach. However, without the guidance of a seasoned real estate agent, the experience can become a maze of hurdles and complications. If you're contemplating selling your house independently, here's a comprehensive understanding of what to anticipate.
The National Association of Realtors (NAR) in their most recent Profile of Home Buyers and Sellers, offered an insight into the challenges faced by homeowners selling independently. The survey pointed out that such homeowners found it particularly difficult to prepare their homes for sale, price them accurately, and handle the mandatory paperwork.
Selling your home - often your most valuable asset - can be less daunting and more successful with the invaluable assistance of a real estate agent. Partnering with an agent gives you the confidence to traverse the complexities of the selling process, turning it into a smooth journey. Below, we outline some reasons why having a real estate agent by your side is pivotal for your home sale:
Marketing and Exposure
Effective marketing strategies are instrumental in attracting potential buyers to your property. Real estate agents wield a host of marketing tools and platforms, including MLS listings, professional photography, virtual tours, and broad professional networks. They can craft a captivating listing that accentuates your home's finest features and connects with a more extensive audience. Selling on your own could result in restricted exposure due to limited access to such marketing resources, thereby decreasing the pool of potential buyers.
Managing Liability and Legal Considerations
As the real estate landscape evolves, more disclosures and regulations become mandatory, making the selling process more complex. Attempting to sell a home without professional guidance can expose homeowners to potential legal risks and complications. Real estate agents are well-acquainted with the contracts, disclosures, and regulations required during a sale, significantly reducing the risk of legal disputes or delays.
Negotiations and Contracts
The negotiation phase of a home sale can be stressful, especially when personal feelings come into play. Real estate agents act as skilled intermediaries, advocating for you and ensuring your interests are protected. Agents excel at handling tricky negotiations, counteroffers, and contingencies, thus shielding you from going head-to-head with several parties such as the buyer, the buyer's agent, the home inspection company, and the home appraiser. When selling your house solo, you should be ready to negotiate with these parties independently.
Pricing and Housing Market Knowledge
The right asking price for your property is critical and requires an intimate understanding of the local real estate market, including recent sales data, neighborhood trends, and current property demand. Real estate agents have a wealth of market data at their fingertips and the skill to interpret it accurately. Selling your home on your own without this comprehensive knowledge could result in overpricing or underpricing your home. Consequently, this could lengthen your property's time on the market or potentially cost you financially, thereby diminishing your future buying power.
Although the notion of selling your home independently may initially seem enticing, the associated challenges can quickly mount, overshadowing the potential benefits. A real estate agent's expertise is an invaluable asset, contributing significantly to a successful sale. Rather than embarking on this journey alone, why not let's connect and ensure you have a seasoned professional by your side, guiding you through each step of the process.
Stepping into the world of homeownership can be a daunting journey filled with countless considerations. Foremost among these is the importance of understanding your credit score and its impact on securing a mortgage loan. Your credit score is akin to a financial passport; it guides lenders in assessing your capability to repay loans and adhere to a timeline.
In the complex labyrinth of home financing, a favorable credit score equates to preferential interest rates and terms for your mortgage. To simplify, the better your credit score, the more favorable the lending conditions become. This implies that your credit score becomes an integral part of the financial equation for buying a house. The importance of your credit score becomes even more prominent today, with mortgage rates influencing affordability significantly.
The Federal Reserve Bank of New York informs us that the median credit score for homebuyers in the United States stands at 765. However, this figure doesn't imply a necessity for flawless credit. A perfect credit score isn't mandatory for home buying. Instead, working towards achieving a credit score within the 'Good' range (670-739) is an excellent starting point for qualifying for a mortgage. If you aspire to tap into the lowest possible rates, however, endeavoring for a 'Very Good' range (740-799) credit score is advisable.
A reliable and trusted lender can be your compass in navigating the complexities of how your credit score might shape your home loan and the mortgage rate you secure. FICO, a renowned analytics company, emphasizes that each lender operates with its unique strategy and acceptable risk level. Therefore, there isn't a universal "cutoff score" utilized across the board. Numerous other elements, along with credit scores, contribute to the decision-making process for determining the actual interest rates.
If you're brainstorming strategies to elevate your credit score, you might want to focus on specific elements. Firstly, prioritize punctual payments. Late payments can trigger a domino effect, lowering your credit score. So, paying your dues on time and clearing any pending late charges swiftly can work wonders. Secondly, keep an eye on your debt amount in relation to your credit limits. It's a general rule of thumb in credit management - the less credit you utilize, the better. Lastly, avoid applying for other credit while contemplating buying a house. Applications for new credit can lead to hard inquiries on your credit report, potentially knocking your score down a few pegs.
Embarking on your homebuying journey involves aligning several factors, and knowing where your credit score stands is a significant initial step. Once you’re prepared, your chosen lender can evaluate your credit score, identifying which range you're in and offering a clearer perspective on the details of each loan type.
In today's economic climate, confronting affordability challenges is an undeniable reality for many prospective homeowners. However, by focusing on ways to positively influence your credit score, you could secure a more favorable mortgage rate. So, let's connect, decipher the intricacies of credit scoring, and set you on the path to homeownership. After all, your dream home awaits you. It's time to unlock the door with the key of an optimal credit score.
Are you pondering the sale of your home? If that's the case, you might be surprised to learn how much potential buyers today appreciate energy-efficient and eco-conscious attributes, especially as we transition into summer.
In fact, the 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) reveals that nearly half of all realtors or brokers have noticed a growing consumer interest in sustainable living.
As a prospective home seller, why is this information significant to you? It gives you an idea of what steps you could take to increase the appeal of your property for contemporary buyers. In the words of Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR:
"Home buyers often gravitate towards properties that help minimize their environmental impact or lower their recurring energy expenses. Hence, highlighting energy-efficient features and related information can be valuable in attracting prospective buyers."
If you're keen on sprucing up your home to enhance its 'green' appeal, you should collaborate with a local agent to gain insights into what features buyers in your region prioritize. The aforementioned NAR report identifies the following eco-friendly home features as top draws for buyers nationwide:
While your home's location is unalterable, you can certainly take steps to make the living space as comfortable as possible, besides setting up future occupants for reduced operating expenses. ENERGY STAR recommends certain upgrades as potentially worthwhile considerations:
It's noteworthy that tax credits and rebates may be available for certain energy-efficient home installations and upgrades. Such incentives could help you recoup some of the expenses associated with eco-friendly home improvements.
As you gear up to sell your house, bear in mind that real estate agents are excellent sources of information. They can guide you about the most attractive upgrades for buyers in your area and suggest which green features to emphasize in your listing. If you have recently made these upgrades, inform your agent so they can highlight them in your listing.
Emphasizing energy efficiency and eco-friendly features can help make your home more enticing to today's buyers. Let’s collaborate to ensure you're making the most appropriate upgrades for our local market.
In the vast landscape of the real estate industry, standing out is crucial. Your Home Sold Guaranteed Realty - The Watson Grouphas devised an innovative and highly effective strategy - the "System to Sell Fast and High". With a proven track record, the system has transformed the selling process, setting a benchmark in the industry. Here, we highlight the key takeaways from this remarkable system.
Staging for Success: One of the key components of the system is the strategic staging of the property. The system emphasizes the importance of creating a visual appeal that resonates with potential buyers. It's not just about decorating; it's about strategically showcasing the property's best features and creating an environment that allows buyers to envision themselves in the space.
Pricing Strategies: An element that sets the "System to Sell Fast and High" apart is its unique pricing strategy. It breaks free from the traditional method of setting a fixed price, instead employing an approach that fosters a competitive environment among potential buyers. This tactic encourages multiple offers, thus enabling sellers to achieve a higher selling price.
Effective Marketing: The system leverages the power of both traditional and digital marketing. The utilization of high-quality visuals, engaging content, and consistent presence on multiple platforms maximizes the visibility of the property, reaching a broader pool of potential buyers.
Seller Education: Unlike many traditional selling processes, the "System to Sell Fast and High" places significant importance on educating the sellers. The system empowers sellers by providing them with resources, guides, and a step-by-step process to understand how their property can be best presented and sold.
Customer-focused Approach: The system is designed with a strong focus on the customers, providing them with constant updates and maintaining transparency throughout the selling process. From regular market updates to personal consultations, the approach is all about making the selling process smoother and more comfortable for the sellers.
Expert Support: A noteworthy feature of the system is its commitment to providing expert support to its clients. It ensures that from staging to closing, a dedicated team of experts is there to assist at every step, providing the sellers with confidence and peace of mind.
Guaranteed Results: The "System to Sell Fast and High" promises a result-oriented approach. With a proven track record, it not only promises to sell your property but also ensures that it sells for the best possible price and within a minimal timeframe.
The "System to Sell Fast and High" stands as a beacon of innovation in the real estate industry. It is transforming the traditional property selling process by ensuring quicker sales and better prices while keeping the sellers at the center of the process. Its commitment to superior service, transparency, and guaranteed results makes it an ideal choice for sellers aiming for the best possible outcome in their property selling journey.
In the whirlwind of numbers and percentages that illustrate our current housing scene, one crucial detail emerges – the extraordinary resilience and potency of today's housing market. Examining this scenario, it appears that we are experiencing one of the most robust housing markets in recent history, if not the most robust. Here, we delve into the underpinning factors that substantiate this claim.
An enlightening starting point in our analysis is the review of the prevailing rate on existing mortgages. Data from the Federal Housing Finance Agency (FHFA) reveals that over 80% of existing mortgages, as of the last quarter of the previous year, sport a rate below 5%. This is indeed noteworthy. Further examining this data, we find that over half of these mortgages bear a rate below 4%.
The media buzz about a looming foreclosure crisis or a surge in homeowners defaulting on loans seems rather far-fetched when considered against this backdrop. Homeowners blessed with such advantageous mortgage rates will undoubtedly strive to retain their mortgages and homes. The reasoning is simple - they can't venture out to purchase another house or rent a property while maintaining the same affordability level. Even if they chose to downsize, the current higher mortgage rates could lead to increased costs.
This crucial factor serves as a key cornerstone, providing our housing market with a sturdy foundation. The high percentage of homeowners enjoying low mortgage rates prevents a repeat of the 2008 crisis scenario, marked by a flood of foreclosures hitting the market.
Another fundamental that speaks to the market's strength is the vast equity pool homeowners currently hold. Data from the Census and ATTOM reveal that about 68% of homeowners have either fully repaid their mortgages or boast at least 50% equity.
This phenomenon, termed 'equity rich' in industry parlance, carries significant implications. Looking back at 2008, several individuals faced the tough choice of abandoning their homes since their outstanding loan amount exceeded the property's worth.
However, the present scenario paints a different picture, with homeowners amassing considerable equity over the past few years. High levels of homeowner equity shield us from a surge of distressed properties entering the market, as witnessed during the crash. This dynamic further solidifies today's housing market foundation.
The evidence suggests that we are currently navigating one of the most resilient housing markets in our lifetime. With homeowners determined to maintain their current mortgage rate and their substantial equity, the housing market's strength becomes more apparent. Therefore, it becomes increasingly clear that today's circumstances differ significantly from those of 2008. The powerful combination of favorable mortgage rates and robust homeowner equity provides an unshakeable underpinning to our current housing market.
This month's newsletter will provide you with information on the advantages and disadvantages of purchasing a foreclosed home, as well as helpful advice for a successful buying experience, especially if you have prior knowledge in themarket.
You will find information on how to pay off medical debt, how to identify early symptoms of skin cancer, and ways to avoid scams on Amazon. Additionally, you can enjoy some fun facts, take part in a trivia challenge, and find plenty of other interesting information.
I just wanted to let you know that you can call me anytime for any reason. And if there's anyone you know, like a friend, family member, or neighbor, who needs the help of a reliable real estate professional in buying or selling a property, please don't hesitate to refer them to me.
Thank you for being my friend and for referring others to me. I hope you enjoy your copy of the issue.
President / Managing Broker
P.S. In the upcoming weeks, if you hear people discussing real estate, please feel free to tell them about my free consumer information! This useful resource can be very beneficial for anyone who wants to learn more about real estate.
This summer, you might come across individuals who were relocated and want to purchase a home. By sharing my Free Consumer Report "Cash Savings Guarantee," you can assist them in purchasing their ideal home at a lower cost than they anticipated. To obtain a copy for someone else, contact me at 720-463-0002.
Brace yourself and mark your calendars for an unforgettable extravaganza: Sounds of Southlands!
Join us on Thursday, June 15th, as the Town Square is transformed into aparadise of non-stop excitement from 6pm to 8pm!
Hold onto your hats (and your dancing shoes) because Message In A Bottle is about to take the stage by storm!
So, gather your friends, family, and anyone else who loves a good time! Sounds of Southlands is THE place to be on June 15th. Don't miss out on this epic celebration of music and fun. We'll see you there!
6155 S. Main Street
Aurora, CO 80016
Your Home Sold Guaranteed Realty - The Watson Group is thrilled to welcome Theresa Benson, an award-winning realtor with over 32 years of experience, to our esteemed team of professionals!
With her exceptional track record and unwavering commitment to client success, Theresa brings a wealth of knowledge and expertise to help navigate the real estate market seamlessly. Her personalized approach ensures that you unique needs are met and exceeded every step of the way.
As a third-generation Colorado native, Theresa's deep connections within the local community empower her to provide invaluable insights and deliver outstanding results. Her dedication to clear communication and honest advice ensures a stress-free and transparent experience for all clients.
Join us in welcoming Theresa Benson to the Your Home Sold Guaranteed Realty - The Watson Group family! We are thrilled to have her on board, and we know her addition will further enhance our commitment to exceptional customer service and client satisfaction.
Contact Theresa today at Theresa@WatsonRG.com or 303-523-3711 to experience her top-tier expertise firsthand. Don't miss out on the opportunity to work with an industry-leading professional who will guide you toward your real estate goals!
When you or someone on your family experiences a medical event, the last thing you want to do is worry about any debt incurred. According to the Kaiser Family Foundation Health Debt Survey published in June 2022, 41% of American adults have debt due to medical or dental care.
Rather than expending energy on figuring out how to pay off that debt, that energy is better spent on recovery and looking ahead at your future. Here, we take a look at different ways to say goodbye to medical debt, regardless of your income.
The Highline East at Dayton Triangle community by Montano Homes offers brand new paired homes that are ideal for people looking to move into a vibrant and dynamic neighborhood. With 3 bedrooms, 3.5 bathrooms, private yards and designer selected finishes combined with their affordable prices starting from the mid $600s, these Colorado Contemporary townhomes make this an incredible place to call home! Plus it's located close to Downtown Denver, DTC shopping centers and parks—what more could you want?
When scanning homes for sale, it’s easy to be enticed by homes in foreclosure — for the most part prices are lower, and there may be waived or reduced appraisal fees and closing costs. Foreclosures happen when an owner can’t make payments, and the lender takes over the home and sells it.
While a lower price is tempting, it’s important to consider that there may be some downfalls. Here are a few things to consider before buying a foreclosed home, and how to be successful if it’s the route you decide to take.
Self-care has made its way into our daily lives, from unplugging to focusing on positivity to making sure we get our 10,000 steps a day. Another way we can practice self-care is by paying attention to our bodies and noting any new marks or bumps that pop up. According to the Skin Cancer Foundation, skin cancer is the most common form of cancer in the U.S. That said, it’s also one of the most curable if diagnosed and treated early enough. And there are two ways we can be on the offense when it comes to our bodies.
First, take time to exam your body once a month. Don’t give it a quick glance, either, but really take a good look. Stand in front of a full-length mirror in a well-lit room and use a hand mirror to see spots out of your sightline. Notice any changes in size or shape of spots or moles. If it helps, take photos for reference next month. If you see something that looks peculiar, make an appointment to have it checked out.
Second, make an annual appointment with your dermatologist for a full-body exam. Your doctor will be able to see spots that you can’t quite reach, and if something is diagnosed, can start treatment immediately.
Experience the perfect home at Montano Homes' Elevations at Murphy Creek. This central master-planned community grants easy access to DIA, shopping, and gourmet dining near Southlands Mall. Not only that but it is situated next to one of Colorado's finest golf courses - a links style course! With its 3 bedroom Colorado Contemporary Paired homes, you can definitely call this place your own little paradise. Welcome home to Elevations at Murphy Creek by Montano Homes!
According to the Federal Trade Commission, Amazon scams increased by 500% between June 2020 and June 2021, costing scam victims more than $27 million. Amazon itself found that more than 50% of Amazon impersonation scams reported by its customers came by way of fake order confirmations.
The latest Amazon scams to be aware of and avoid include being asked to make a payment away from the website or the app, or via Amazon gift cards; phone calls and text messages requesting personal information; claiming you’re owed a refund; and fake invoices for Amazon purchases that you didn’t make.
If you do receive what you feel is a suspicious phone call, text, or email from Amazon, your best bet is to visitAmazon.comfor direct contact information (don’t click on any links from a text or email) and call, email, or chat with a representative to verify the communication in question. Not only will doing so keep you safe, you’ll also alert Amazon to the suspected fraud so that they can investigate.
Studies have shown your income and wealth are directly related to the size and depth of your vocabulary. Here is this month's word.
Meaning:An animal with a large following on social media due to their engaging photos and videos.
Sample Sentence:Our recently-adopted miniature schnauzer’s expressive face and funny antics have led him to becoming a petfluencer.
The heat of summer can wreak havoc on your yard. Here are a few tips to keep it green and ready to enjoy night and day.
Adding value to your property through home renovations and improvements is an excellent way to increase the worth of your home. There are many ways to renovate and improve your home, from simple cosmetic changes to more extensive structural updates. One popular trend in recent years has been. . .
For many, summertime means getting out of town and hitting the open road. Here are a few ideas to make sure your car is road-trip ready.
Sold for $1,125,000!
Sold for $650,000!
Sold for $900,000!
Sold for $590,000!
Sold for $625,000!
Sold for $275,000!
Crystal Valley Ranch
Sold for $644,900!
Sold for $285,000!
Creekside Eagle Bend
Sold for $800,000!
Q: What should I know when buying my first home?
A:Buying your first home is a big step, and making mistakes can cost you thousands of dollars. Here are three mistakes you should avoid:
Want to learn more? Read our top story“Checklist for Selling Your House this Spring”and download our handy checklist.
Do you have a real estate question you want answered? Feel free to call me at720-463-0002. Perhaps I’ll feature it in my next issue!
The subject of mortgage rates is a hot topic in today's housing market. As prospective homebuyers and sellers evaluate their options, two questions frequently arise: why are mortgage rates so high, and when will they decrease? To shed some light on these pertinent queries, let's delve deeper into the factors affecting mortgage rates and discuss predictions for their future trajectory.
The crux of understanding why mortgage rates are currently high lies in the principles of supply and demand for mortgage-backed securities (MBS). Mortgage-backed securities are investment products akin to bonds, comprising a collection of home loans and other real estate debt purchased from the banks that issued them. When you buy an MBS, you're essentially lending money to homeowners.
The demand for MBS largely dictates the difference, or "spread," between the 10-Year Treasury Yield and the 30-year fixed mortgage rate. The average historical spread stands at 1.72. On a recent Friday morning, the mortgage rate was at 6.85%, making the spread a substantial 3.2%. This deviation of almost 1.5% from the norm is quite an anomaly, pushing the mortgage rate higher than it would be at the historical spread, which would sit at 5.37% (3.65% 10-Year Treasury Yield + 1.72 spread).
Such a wide spread is not an everyday occurrence. The spread only expands to or beyond 300 basis points during times of high inflation or economic volatility, as observed during the early 1980s and the Great Financial Crisis of 2008-09. This historical trend indicates potential for mortgage rates to improve today.
So, what's fueling this larger spread and causing soaring mortgage rates? The demand for MBS is swayed significantly by the risks tied to investing in them. Currently, these risks are shaped by various market conditions, including inflation, fear of a potential recession, the Federal Reserve's interest rate hikes to curb inflation, negative narratives about home prices, and more.
To put it simply, when risk is perceived as low, demand for MBS rises, leading to lower mortgage rates. Conversely, when the risk associated with MBS increases, demand decreases, pushing mortgage rates higher. The current scenario, where demand for MBS is low, accounts for the high mortgage rates we see today.
Predicting the future of mortgage rates isn't an exact science, but some industry insights can guide our expectations. Odeta Kushi, Deputy Chief Economist at First American, suggests that the spread, and consequently mortgage rates, may recede in the latter half of the year. However, the retreat is subject to the Federal Reserve easing off monetary tightening measures and providing investors with more certainty.
While some of the risks impacting the mortgage market may persist, causing the spread to not fully return to its historical average of 170 basis points, a reduction in investor fear should still lead to a contraction of the spread. This, in turn, should moderate mortgage rates as we move further into the year.
Mortgage rates, while influenced by a multitude of factors, are primarily driven by investor perceptions of risk associated with mortgage-backed securities. Current conditions have inflated these perceived risks, leading to high mortgage rates. While no one can predict with absolute certainty the trajectory of these rates, a decrease in investor fear and an easing of monetary tightening measures should lead to a contraction of the spread and a moderation of mortgage rates. As always, it's crucial to stay informed about market trends and seek expert advice when navigating the housing market.
As we navigate through the current economic climate, riddled with fluctuating home prices and soaring mortgage rates, many of us may ponder the viability of homeownership as an investment. Is it the right time to dive into the real estate market or should we hold back? The answer, according to recent Gallup data, is a resounding yes. For 11 consecutive years, real estate has emerged victorious in the battle of investments, consistently outshining gold, stocks, and bonds.
If you find yourself on the fence about buying a house, take this recent poll as a vote of confidence. Despite the ongoing economic uncertainty, Americans firmly believe in the financial wisdom of homeownership.
So, why is there such enduring positivity around investing in a home among Americans?
Historically, real estate has always been a robust strategy for long-term wealth creation in the United States. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), homeownership is a significant wealth-building tool accessible to individuals from all backgrounds. Yun argues that monthly mortgage payments serve as a form of 'forced savings,' allowing homeowners to accumulate a net worth that is about 40 times that of a renter.
This accumulation of wealth is driven by two critical factors: the appreciation of home values over time and the gradual pay-down of mortgage loans. As you continue to make your monthly payments, your home equity—or the portion of your property that you truly own—grows. This is why homeownership is considered a long-term game: it takes time to see the rewards. However, the sooner you start, the better.
The concept of homeownership becomes even more powerful when you contrast it with renting. When you rent, your monthly payments contribute to the landlord's equity, not your own. You don’t build any long-term wealth. Therefore, if you can afford to buy a house and are considering it, jumping into homeownership sooner than later might be your best strategy. The longer you wait, the more you miss out on opportunities to build your own home equity.
In conclusion, homeownership remains a potent and savvy decision. Its consistent status as the best long-term investment option, according to Americans, only solidifies this fact. If you're ready to embark on your journey towards homeownership and start building your own wealth, it may be time to connect with a real estate professional.
Your Home Sold Guaranteed Realty understands the effort it takes to sell a house. To make your life easier, we have compiled these valuable resources for you - completely FREE of charge! MORE
At Your Home Sold Guaranteed Realty, we are dedicated to making the process of buying a new home stress-free. To ensure your comfort, convenience and peace of mind throughout your search for a property, we have assembled an extensive selection of resources tailored to fit every person's unique needs - all complimentary and without obligations! MORE