MARKET INSIGHTS

A Look At The Current Real Estate Market

970.669.4175 Kathy@OwnThisHomeTeam.com

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Homes Sold Recently in Governor’s Ranch

As we talk with clients, interest rates are on almost everyone’s mind right now. To come down from an intense market (and in some regions of Colorado, an EXTREME market), the Federal Reserve is making moves to correct our market.

“For the longer term, what we need is supply and demand to get better aligned so that housing prices go up at a reasonable level, at a reasonable pace, and that people can afford houses again, and so we probably in the housing market have to go through a correction to get back to that place.” – Federal Reserve Chair, Jerome Powell

If you were alarmed when rates jumped as high as 7% last month, we understand. “The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings. If mortgage rates moderate and the economy continues adding jobs, then home buying should also stabilize.” – NAR Chief Economist, Lawrence Yun

Stat Check

So take a tip from the buyers and sellers who are succeeding in today’s market: be proactive! Let’s start preparations now:

1. Share your future real estate and lifestyle goals with us to determine timing, potential obstacles, etc.

2. We will help you identify your must-haves in a home/location and set you up with a highquality listing alert system.

But a more balanced market actually benefits both buyers and sellers. So don’t let the scary, click-baiting headlines influence your decision. The road to more inventory at affordable prices can be a bumpy process. And the changes impact our local market (and each of our clients) differently than other parts of the U.S. (even different neighborhoods). We can provide you with the latest hyperlocal market data so you can make excellent decisions.

Because market experts agree: our housing market will reach stability much sooner than it did in 2008. And in a season where interest rates can be volatile, unexpected opportunities could open up for you.

3. Refer you to excellent lenders who’ve helped our buyers.

4. Strategize home improvements to boost your ROI (and refer you to our trusted vendors).

5. Discover your home’s value with a custom Comparative Market Analysis.

6. Discuss becoming a property investor and building your portfolio.

We wish we had a crystal ball that told us when interest rates will drop (and stabilize). But we can help you assess if now is the right time to act (or not) and create an excellent plan for the near future.