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Interest Rates and How They Affect a Purchase

It’s no secret that interest rates can affect a buyer’s purchase power. As interest rates fluctuate, so does the market. How much can a rising interest rate change the affordability of a home? For every .5% increase in interest rate, your ability to get approved for the home that you want decreases by 5%. So, if you were approved for a $500,000 loan, and interest rates when up a half percent, you are now approved for a $475,000 loan. In this Denver market where prices are constantly increasing, $25,000 can make a huge difference in your future home aspirations.

The good news is that interest rates have taken a dip recently. We are currently hovering around a 4.5-4.75% (depending on down payment, credit score, etc…). This is a vast improvement from the rates that we saw at the end of 2018.

The craziness of the “spring market” has yet to take hold, interest rates are still historically low, and now may be a good time to take a look if you are an investor or a buyer that was afraid of the aggressive Denver market. We are seeing longer days on market, more price reductions, and buyers that were formerly being “priced out” of their dream homes are finding the current conditions to be a bit more to their liking.

When you are ready to explore what this means for you, give us a shout!

2019 Real Estate Market: How Will it Affect You?

For the past 6 years, the Denver Metro real estate market has been a “seller’s market,” but is that about to change?  Well, current trends are showing that it has already started changing in CERTAIN SEGMENTS OF THE MARKET, but not all.  As is a predictable trend, the luxury market is the first to soften and show signs of becoming a “buyer’s market.”  Listings above $1m are seeing price cuts and longer days on market, and we are seeing similar trends in a slightly cooling suburban market.  What is holding steady as a seller’s market? Sub $1m listings in central Denver remain strong with very low days on market and asking or above asking sales prices.  Click the picture below to read a 5280 article about current trends.

Will changes trending in 2019 affect your buying or selling? Give us a shout to find out!

Denver’s 2019 Real Estate Forecast Looks Good for Buyers

The Sun Valley Neighborhood Revitilization

The Sun Valley neighborhood has been a forgotten neighborhood for years, but that is about to change.  Historically, the lowest income neighborhood in Denver with the highest unemployment rate, this area has been an island of difficulty in a sea of growth and revitalization.  Bordered by 6th Ave, and near Mile High Stadium, Sun Valley has been an anomaly, but that is about to change.  Restaurants, recreation, shops, housing, commercial, jobs and opportunity are all in the 5-year plan for Sun Valley.  We can’t wait to see what’s to come!

DMAR E-Waste Recycling Day

Responsibly recycle anything with a plug or battery!

DMAR invites the community to drop off unused, unwanted and nonfunctional electronics to any of its five drop-off locations in the Metro Denver area on Saturday, April 27th from 8 AM to 12 PM.

Drop-off locations:

  1. DMAR HQ | 4601 DTC Blvd. Denver, CO 80237
  2. DMAR North | 1870 W. 122nd Ave. Westminster, CO 80234
  3. DMAR West | 950 Wadsworth Blvd. Lakewood, CO 80214
  4. DMAR Douglas Elbert | 840 Kinner St. Castle Rock, CO 80109
  5. Colorado Professional Fire Fighters | 12 Lakeside Ln. Denver, CO 80212

Everything is free to recycle with the exception of fees associated with hard drives, TV’s and CTR monitors. View a list of acceptable items and prices here – https://www.dmarealtors.com/e-waste-recycling-day-0

Legal Marijuana & its Effect on the Housing Market

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