Why Buy A House Now? Here’s Why…

Employment is going up, Interest Rates are still down and Home Prices are still below peaks in most areas.

Employment has been a huge issue with home values. The next generation of home buyers—the Millennials—has been particularly affected by the nation’s job slump. Saddled with student loans and tight lending restrictions, many in this generation have been living with their parents to save money until the economy picks up. Employment numbers have been getting stronger month after month. The U.S. economy is finally adding jobs—about 200,000 new jobs per month. What this will do is make it possible for the Millennials to move out of Mom & Dad’s home and move into the housing market, and that is a lot of demand!

Interest Rates are below 4% right now! A loan for $200,000 will cost $764 per month, P&I. Denver Average Rent  As of November 2016, average apartment rent within the city of of Denver, CO is $1564. One bedroom apartments in Denver rent for $1365 a month on average and two bedroom apartment rents average $1765. Right now, it is more affordable to buy the homes that people are renting. Interest rates cannot stay low forever, Time to take advantage!

Hard to believe. but in some areas home prices are still below their peak in 2007-2008. That means that with the recovery, prices are expected to increase over the next few years. Buying a home now still gets you in as the values are still rising. Most indicators are pointing the the fact that we are not at the top and should’t be for some time now.

Time to buy!

Contact Jeff Hansen for more Real Estate Advice

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FHA Loan Limits To Increase

RISMEDIA, Tuesday, December 06, 2016— Federal Housing Administration (FHA) loan limits will rise in most areas in 2017, applicable to cases assigned on or after Jan. 1, 2017, FHA recently announced. The increase, motivated by rising home prices, comes after the announcement that maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac would also rise next year.

The loan limit ceiling, according to a released by the U.S. Department of Housing and Urban Development (HUD), will rise to $636,150 from $625,500 in high-cost areas (areas where the loan limit exceeds the floor). The floor will rise to $275,665 from $271,050, applicable to areas where 115 percent of the median home price is less than 65 percent of the national conforming loan limit of $424,100.

The maximum claim amount for FHA-insured reverse mortgages (HECMs) will also rise to $636,150, 150 percent of the national conforming loan limit.

View the FHA loan limits by county here.

Contact Rebecca Hansen; Guild Mortgage for a Pre-Qualification

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Littleton, CO One Of Top 5 Best Cities

According to wallethub.com, Littleton ranked 4th out of 1,268 towns with a population between 25,000 and 100,000. Using housing costs, school quality and restaurant data, among others, wallethub.com considers Littleton in the top five two years running! I knew I loved my town for a reason!

 

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Inventories of Homes For Sale Update

In the Metro Denver Area the inventories of homes for sale is once again down. In the city of Denver there are only 1527 homes for sale today. Which is down 21% from the 1st week of September. Littleton has just under 300 homes for sale right now and Highlands Ranch has only 125 homes for sale. That’s right, in ALL of Highlands Ranch there are only 125 homes available in all price ranges and types!  That is down 50% from that of September. If you were even considering selling your home you might want to take notice. Less inventory means less competition and more demand which equates to higher pricing! Read the very short blog from yesterday about selling during the holiday season and see if now is your time…

Want to know the value of your home in Colorado? Click HERE to get started

Want to search homes for sale in Colorado? Click HERE to get started

#realestate #realty #coloradohousing

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Did you know…?

Did you know that December can be one of the most busy months for real estate sales? It’s true. Many folks realize that they can find deals for homes during the holiday season. Buyers are out in droves this season looking to get something locked up prior to the new year. Plus, now that the crazy election is finally over, confidence is back. Happy Holidays and Happy Selling!

Want to know the value of your home in Colorado? Click HERE to get started

Want to search homes for sale in Colorado? Click HERE to get started

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October Real Estate Market Update

Sweet winter home

Click HERE for a 36 second video on the current market.

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Homework Assignment

I was talking to a new client just today and they were complaining about the realtor that he and his wife had had a long relationship with before they ran into me. They have worked with this realtor for decades and all of the sudden realized that they just were not a fit anymore. They started to notice that their agent was calling less and providing less market information and were not there as often to answer basic real estate questions. A brokerage relationship can be much like any relationship or even a marriage. Over time, they can drift apart. Here’s what I mean. In the beginning the agent focuses a ton of attention to their new buyer. They woo them with exciting new listings and spend hours with them nurturing their purchase. They get to closing and then they are nowhere to be found. This is a simplified version of it, but it happens. The new clients from above were actually quite happy with their broker for many years and that broker was there for them. Over the years, however, that relationship started to slip. I guess they could consider going to a marriage counselor to try to save the relationship… But seriously, that relationship needs to be nurtured. The broker should want to be there for you after the closing and through the years. If not, swipe left. Or is it swipe right? I don’t know, I’m married. Swipe whichever way it is to go to the next qualified broker in that virtual Realtor/Client dating app! I know the right broker is out there for you.. Who knows, it might be me!

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Back to the subject of Inventory

It has been a while since I have posted here. It has been a crazy market with a lot to talk about, Let’s get started.

Inventory of Homes. Wow! All that I can say is Wow.

Littleton as of today, 190 homes on the market. City of Denver, 1191 and in all of Highlands Ranch, 86. That means I could quite literally show you all of the homes for sale in Highlands Ranch, all price ranges and styles, in less than four days! ALL OF THEM!

We are set up for one crazy spring. If you are thinking of selling, make sure you talk to your realtor about what is facing you in the way of new lending guidelines. You will need to expect longer contract periods and maybe even missed closing deadlines and extended move out dates. Stay tuned and we will discuss this new world we live in.

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What is my home worth?

Hey Colorado! Home prices are higher than ever right now! Find out the TRUE value of your home INSTANTLY for FREE. Just go here: http://instantbizsites.com/JeffHansen/free-evaluation-2/

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Search For Homes In Metro Denver Areas

Get a list of the nicest yet most affordable homes in Metro Denver right now for 100% FREE. Just go here: http://instantbizsites.com/JeffHansen/free-list/

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