Real Estate Future Looking Very Good
Now is the time to set up your real-estate future. I see the eye rolls now, you hear everyone at work saying how expensive the housing prices are, your doom in gloom neighbor tells you the crash is emanate etc. etc. The reality is the economic conditions in Colorado have never been stronger, our economy has grown and continues to grow, not just is size but in diversity of industry insulating it against many specific economic factors that affect specific industries. Residential building continues to grow at a very healthy pace, finally allowing supply to start to meet demand. What this all means is that there will not continue to be run away increased in residential prices, the market is evening out to a health level of inflation. For those entering the market or contemplating moving to a property that will better fit their needs this is as good as it gets, interest rates have taken an unexpected turn down to near historic lows, thirty year fixed rates are below %4 and fifteen year fixed rates are near %3.5 along with a stable market there will not be a better period of affordability in the foreseeable future. For those who have tons of equity in properties it may be time to evaluate and diversify that equity in more or different properties. Residential real-estate has been a great investment in Colorado for a while now, its been so great that many people became disillusioned with the process. They were not able to find the home they wanted and if they did the process was ridiculously competitive, multiple offers and cash over appraisals and the heart break of rejection. Now this is still a robust market, but inventory has risen significantly and there is choice and opportunity in all price ranges. Ask yourself are you in a property that fits what your future looks like. Do you need to purchase a first home to start building equity and secure your families lifestyle? Is your current home where you want to be in five, ten or even twenty years? Is your real-estate investment portfolio preforming? This is the time ask these questions and to set up for the future, don’t miss it.