Denver Real Estate Market…Tis the Season to Get a Good Deal!
1/6/2016 (PRESS RELEASE JET) — The Denver real estate market moved into first place this fall as the number one hottest real estate markets and most popular places to live. Over the past few years Denver has been the subject of many news headlines steadily gaining over other areas in the country and recently capturing the number one position of being one of the most active and sought after real estate markets in the entire country. Home prices in the Greater Denver area have been rising at a steady pace for several months and the demand for residential property remains strong. Which leaves some buyers asking, if now is the right time to buy a home in or around Denver?
While prices have moved up, real estate buyers in Denver have a unique opportunity over the next thirty to sixty days to take advantage of attractive interest rates, special buyer incentive programs and a generally lower demand winter market, says Colorado Flat Fee Realty, Inc. Buyer demands decline from the spring and summer months because many are busy with the holiday season or avoid venturing out to shop for a home due to winter weather conditions. This opens up a wonderful opportunity as it leans towards the home buyer giving them an advantage, in what is normally a seller’s market, to purchase a great deal.
There are some reports that suggest the home pricing in the Denver area may actually be cooling down. Even if that is the case it may be directly related to nothing more than the time of year when the buying incentive slows down most likely due to the temperature drop. Often times the spring and summer months are reported to be the best time to buy; yet that is not always the case. When the weather heats up, the number of home buyers goes up, thereby supporting the theory of spring and summer being the optimal time to purchase. When the warm weather returns many more buyers who have prescribed to what others deem to be the best time to buy; emerge from their winter isolation and inactivity to compete for the same property. Buyers who capitalize on the winter time home purchasing decline to purchase in the coming weeks may get a much better deal than if they were to wait until spring time when demand for the inventory will be on the rise again.
Get shopping while Mortgage Rates are Low for Now!
Earlier this fall, the Fed finally decided to raise its target funds rate by 0.25%, which attracted a lot of attention due to the fact this is the first time in about ten years the Fed has raised interest rates. However, what many fail to realize is this move by the Fed had been broadcast to the markets ahead of time and the effects of the interest rate hike have been “baked into the market” for a long time, probably for several months now.
This is exactly why we didn’t see any huge shifts in mortgage rates or nasty sustained downturns in the stock market the day after the Fed’s decision. Basically, it was a decision that had already been forecast, expected and didn’t take anyone by surprise. In fact, it would have been a huge shock if they did not raise rates.
With all that being said, you may see headlines that refer to the interest rate increase as perhaps a reason it might not be a good time to purchase a home. However rates are still very low and very attractive for those looking to purchase real estate, especially in the hottest real estate market in Denver.
Financial Incentives and Special Mortgages
Interest rates and price are typically the two most talked about factors in a home purchase, but there are new programs available that can offer all buyers who choose to purchase now significant advantages. There are buyer’s cash back or down payment assistance programs for all buyers; and even more specialized funding for employees of certain companies or organizations that fall under the PATH program.
PATH is for employees of public agencies, Colorado public school districts, State University or Community College, Colorado judicial system, public health departments or local government entities and those that participate in the PERA retirement association. These special financial incentives are not always advertised and not every real estate agent offers them.
Therefore, even if the Denver real estate market has experienced an upswing in overall pricing, the continued low interest rates and buyer financial incentives offered can help offset those increases. Regardless if the local real estate market is in an upswing or downturn, purchasing a home is a large commitment. Buyers should take advantage of the winter months and every savings through financial incentives and specialized mortgages they possibly can as it can make a big difference in saving thousands over the short and long-term. These programs are currently available giving yet another compelling reason for buyers to consider actively pursuing a home purchase in the Denver real estate market now.
Deciding if it is the right time to buy a home is based on many factors, all of which are specific to your individual situation. There certainly is never a “perfect” time to buy for everyone, but taking the above factors into account still makes the hot Denver real estate market an attractive proposition for many new home buyers right now. In fact, there are several very good reasons listed above for buyers in the Denver and surrounding area to get active now and not wait until spring time to look for a new home.
Full News Story: https://pressreleasejet.com/newsreleases/2015/denver-real-estate-market-tis-the-season-to-get-a-good-deal-winter-low-rates-and-special-financial-incentives-offsets-rising-home-prices-creating-a-home-buyers-advantage/
Distributed by Press Release Jet
Company Name: Colorado Flat Fee Realty, Inc.
Contact Person: Carol Vizzi
Phone: (719) 371-6181
Country: United States