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Bev West, Broker/Owner

West Realty/Metro Brokers
Greeley, CO 80634
970-631-7111
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My Blog: buying

How's the Market in CO?

What We Notice in Answering "How's the Market in CO?"

How's the Market in CO?

Here are some observations we have about the market right now:

  • Inventory is up, price reductions are up, the length of time to sell a home is up.
  • The Buyer asking the Seller to pay concessions are more prevalent
  • Sellers are more willing to accept contingent offers (especially in higher price ranges)
  • If a home doesn't sell within a week, it often becomes stigmatized by the market and potential buyers assume there must be something wrong with it.
  • Homes that likely would have sold within hours a year ago, are now sitting on the market
  • Condition is super important as buyers become even more picky. 
  • Pricing a property correctly on day one is paramount
  • Sellers who over-price their property are finding themselves chasing the market. 

So how many Americans own their own home vs paying rent?  The most recent Census showed 64.2%. This number is showing stability after many years of change. In 1996, home ownership started increasing.  In 2005 it reached as high as 69.5%.  In 2008, the rate started declining back to the pre-1996 levels of 64%.

So today it's back to what seems to be "normal" based on the long-term average.

If you are looking to Buy or Sell, call me at 970-631-7111.  

 

Mortgage Rates Down Again

Down Again

Mortgage rates dropped again for the fourth week in a row.

The average 30-year rate is now 4.06% which is the lowest it has been all year.

Rates today are actually the lowest they have been since early 2018. The main factor driving rates down is the trade war with China.

Investors are shifting money from stocks into bonds which causes the yield on the 10-year Treasury to drop. Mortgage rates are closely aligned with the 10-year Treasury.

At the beginning of the year, most experts believed that 2019 would have a trend of increasing mortgage rates eventually reaching 5.5%. Instead, the opposite has happened which is good news for real estate.

If you are looking to buy or sell, now is the time! Interest rates are low for buying makes selling a home the perfect time!  Call today at 970-631-7111

*Info and photo provided by Windemere RE

Bev West, Broker/Owner
3835 W. 10th St. #200C
Greeley, CO 80634
Phone: 970-631-7111
Email: bev@bevwestingreeley.com

See What My Clients Have To Say...

Selling our home was emotional and stressful. Bev made the entire process much easier! Her marketing expertise was amazing! We thoroughly appreciated her communication -- she touched base with us almost daily. She helped stage our home, created terrific marketing videos, flyers, website, and more. We could not have asked for a more professional realtor. Thanks, Bev! Jaydine R.
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CNHS - Certified New Home SpecialistEqual Housing OpportunityGRI - Graduate, REALTOR® InstituteMLS membershipRCC - Residential Construction CertificationREALTOR® certificationWCR - Womans Council of RealtorsIdentity Theft Prevention Officer

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