Team Black Bear’s
Real Estate Update Exceeding Your Highest Expectations in Service, Performance & Results! September 2014 Joan Harned
Barbara Hogoboom
Laura Sellards
IS NOW THE TIME TO SELL OR BUY? This market is great for selling or buying real estate. Let us explain why this wonderful phenomenon is occurring. You might say it is the perfect storm. First of all, if you are a Seller, the statistics are showing the prices in this Valley are up from last year, the number of sales have increased and the number of homes for sale is down (see graph below). In addition, the interest rates are low, so more Buyers can buy homes and more Buyers can buy more expensive homes.
not to mention a dramatic increase over the life of the loan. For example:
5.5% 4.5%
Vail Board of Realtors Monthly Snapshot for end of June 2014: An Increase of 1% in interest rates could raise the cost of the loan by $100,000+/over the life of the loan.
Angela Maxey
If you’re a Buyer, the interest rates are low, even lower than last year, which lowers your payment and increases your buying power. In reality, the inventory of homes for sale is substantial in certain price ranges.
Tom Harned
Distressed sales are down, but there are a lot of motivated sellers in this market that are pricing at, or slightly below market value. The threat by the Federal Reserve Board is that interest rates will go up the beginning of 2015, if not sooner. If the rates go up, even one percentage point, your monthly payments can go up substantially,
That same increase of 1% in interest rates could raise the monthly payments by $300+/- per month. So, for Buyers and Sellers, as well as new or seasoned investors, we give the same advice: Call the professionals at Team Black Bear, Joan, Barb , Laura or Angela. Let us give you the up to date, in depth statistics, along with the latest insight into the various markets in the Valley, so that you can make the most informed real estate decisions possible in today's market. Our Team studies the market daily and we delight in sharing our knowledge to help our clients find the best opportunities and marketing solutions available Call us today with any of your market questions at 970.337.7777