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Real Estate Trends 2017

Real Estate Trends That Will Shape 2017

Whether your in the market for Colorado real estate or not, if the last quarter of 2016 is any indication of the future than 2017 is sure to be filled with surprises!

One thing that no one expected, from Donald Trump’s win of the 2016 Presidential Election, was a stock market rally and 10-year Treasury bill rate increases. In 2016, low-interest rates and improving wage growth helped boost the U.S. Housing Market.

However, as of November 25th, the 10-year Treasury rate grew to 2.36 percent, up from  1.83 percent the day before the election. This has increased the national average of a 30-year fixed-rate mortgage to 4.02 percent, up from 3.47 percent, for the same period. However, this is not the only national trend that will affect real estate in 2017.

2017 Real Estate Trends

1. Walkable Communities – Simply put, a walkable community is one that is friendly to walk. Notwithstanding, much of this real estate trend is driven by a desire to live in a healthy and environmentally sustainable town or city.  Buyers are seeking neighborhoods in which there is a reduced reliance on automobiles, with easy access to work, shopping, and entertainment.

2. Use of Unmanned Aerial Vehicles – Proficient real estate agents are always looking for new technologies and ways to make properties stand out. Since the advent of the internet, there have been many new ways to present homes for sale, and having them stand out in the crowd. A growing new real estate trend is the use of drones to create aerial video tours of properties.

3. The End of Starter Homes – A growing number of Millennials, those born between the early 1980s and the late 1990s, are anticipated to acquire their first house in 2017. The housing crash caused many to become hesitant to buy. However, the delay into the market has empowered many to prepare by paying down student debt and saving for a down-payment. The resulting real estate trend is that many are choosing something more than just a starter home.

4. Increased Mortgage Rates – As stated, the Trump Presidency has started to push the interest rates up for fixed-rate mortgages. This is because of the link between fixed-rate mortgages and the 10-year Treasury. However, adjustable-rate mortgages are more closely linked to the Federal Reserve rate.  The Fed just raised rates in December and experts predict this real estate trend will continue to slowly raise rates through 2017.

5. Easier Mortgages – According to the Mortgage Credit Availability Index, acquiring a mortgage loan is easier today than it has been for the last 8 years. This is a result of more availability for low down-payment loans and jumbo loans. Banks are starting to loosen up and seem more willing to work with buyers. As the economy continues to grow, this trend should continue.

We expect the strong Colorado housing market to be one of the real estate trends that will continue in 2017.   With rents and home prices both on the rise it will be a challenge for buyers and renters as sellers and Landlords will stay in the driver seat.

As we embark on an exciting new year here at Housing Helpers Colorado we wish all of our friends and clients peace, prosperity, and our sincere thanks.   We look forward to helping you with your real estate needs in 2017!

Colorado Real Estate Agents 

5 Key Things to Look For in Your New Home

When looking to buy your first home, you’ll have a lot on your mind; between pricing, location, and the actual house itself, you may find yourself overwhelmed with details. As you look at potential homes, then, be sure to consider these five key items in order to ensure you’ll soon have the residence and the lifestyle of your dreams:

  1. Structure 

Viewing homes for sale can become a battle of first impressions; don’t let it be. As you imagine yourself in each room, remember that paint, scuffs, and dirt can easily be fixed. What can’t be fixed so simply is the house’s structure: is the wiring all in place? Foundation solid? Appliances up-to-date? Take note.

  1. Layout

Remember that you’ll be living in this space, and imagine your day-to-day activities. Will you find it comfortable in these potential homes to travel from the kitchen to the living room, from to the bedroom to the bathroom? Will it feel natural to move throughout the house, or are the spaces more difficult to navigate than you’d prefer?

  1. Temperature

Consider the home’s potential in all seasons, no matter when you buy: will it be drafty and cold in the winter? Will it trap heat in the summer? A property’s age can play into this, but it’s also important to note the effectiveness of the heating and cooling systems, as these can be expensive to replace, and having the right home temperature can make all the difference in your comfort.

  1. Natural light

You’ll be spending the bulk of your time in your home, so windows–direction they’re facing, placement, and size–are real factors to consider. You’ll want to have the optimal amount of natural light for you in your home, which is something that is easy to pass by in the inspection phase of home-buying. Consider what time of day you’ll have the most light, and how it will affect you in your potential new home.

  1. The kitchen

The kitchen’s appliances, features, and layout are all important to consider, especially if you’ll be eating in frequently. Many kitchen updates can become costly, and you’ll likely want to have as smooth a move-in as possible; a kitchen with the amenities you desire is the perfect start. (In addition, if you ever plan to sell in the future, a good kitchen is the number-one selling point for home buyers!)

With these five quick points considered, you’ll find yourself much closer to knowing if the property you’re viewing could become the home for you.

 

Boulder Real Estate Agents              Search Homes For Sale 

 

 

Real Estate Trends

Real Estate trends show “Millennials” moving to urban locations

A recent national survey conducted by the New York Times suggests that the new generation of home owners is shifting its interests to a more urban-styled preference. The majority of those surveyed preferred attributes such as walkability, a wide variety of housing choices, and nearby shopping, restaurant and transportation options. This new wave of young adults, also known as the Millennials, differs drastically in their preferences compared to the many older residents from the baby boomer generation. How it will affect nation-wide real estate will be very interesting.

Why Such a Sudden Change?

The majority of this new generation is burdened with excessive student loan debt. This transfers to their city-like preferences in real estate because the demand for jobs is considerably higher in more populated areas. In addition, the amount of licensed drivers has dropped considerably in their generation so good walkability is a must when choosing a property to rent or purchase.

Victims of Hard Times

The Millennials are being compared to those who had to endure the Great Depression. The group consists of people who are 18 to 34 and must deal with a wide array of financial burdens. Beside the mounting college loans they must make payments for, the recession, rising unemployment rates and stiff competition for jobs make the younger generation comparable to the people of the 1930’s. It is hard to tell what direction the Millennials will branch off toward, but the amount of home owners for their age is dwindling. Perhaps small, inexpensive apartments are what they must deal with at the moment.

Rural Homes Are Not Going To Be Left in the Dust

While factors such as student loan debt, high levels of unemployment, and lasting repercussions of the recession drive people to search for homes located near urban areas, the Millennials are also interested in suburban developments. While there is a greater chance that younger potential home owners may be searching in the city, they will also be looking at suburban houses that many older residents from the baby boomer generation will be looking to sell. With everything said, there is not enough information yet about this recent shift in preferences. The Millennials are too new of a generation to conclude anything drastic about the real estate market.

Get Informed 

The real estate market is a continually changing industry. It is important to consult those who have valuable experience in the field, especially if you are going to be a first time home owner. Housing Helpers can assist you with buying a new home while offering you a diverse selection of properties to rent or purchase in Colorado. Top of the line advice concerning selling your home is also available. If you are interested in real estate, please do not hesitate to contact us at (303) 545-6000 and one of our Real Estate Agents will be happy to assist you with any questions you may have about our services.

Westminster Colorado Real Estate Spotlight, Featured Homes For Sale in Westminster CO.

Home For Sale in Westminster Colorado in Bradburn Village

In tune with the recent post about real estate, there are several prize-worthy properties in Westminster. A recent figure says that the price per square foot is approximately $130, a decrease from 2012. In addition, the number of sales in Westminster real estate has increased dramatically over the last year; this is the time to get in while you still can!

Situated between the two hubs of Denver and Boulder, Westminster has a lot to offer newcomers. Not only does it boast an excellent school system and easy access to all the major business points of interest, but its favorable housing market also has a lot of offer newcomers to home-buying.

While many people categorize the Westminster area as just “conveniently located” between Boulder and Denver, there is much more to the town than simply its geographical coordinates. In 2006, for example, it was ranked in the top 25 places to live by Money magazine. Beyond the educational and vocational opportunities that abound in Westminster, this honor could also be due in part to their family-favorite Butterfly Pavilion, endless trails and open spaces, or their all-you-could-ever-want shopping centers conveniently located throughout the area.

There are endless reasons why Westminster is a perfect starting ground for home-buyers; this post is merely the tip of the iceberg. For a nice example of what sort of properties await you, check out this 4-bedroom exquisite Bradburn home for sale in Westminster…but don’t stop there. We have numerous real estate listings in Westminster and will be happy to help you find the best one for you. Contact us here at Housing Helpers and allow one of our amazing real estate agents to assist you in getting the perfect property.

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