Real Estate in 2018
2017 was a great year in the real estate market. Buyers were coming out of the woodwork - many looking for their very first homes. We love helping first-time homebuyers navigate the realm of real estate just as much as we love helping buyers get back in when they’re ready to buy something that better suits their needs. 2018 is going to be a whole new real estate ballgame because while we have plenty of buyers, finding homes for them was a bit challenging in 2017. If you’re curious what the speculations for the 2018 real estate market may look like - keep reading! We’re going to delve into some prospects, suspicions, and how those may affect you if you are planning on buying a Colorado Springs home.
Home Prices On the Rise … SlowlyHome prices are expected to rise through 2018. They rose significantly in 2017, but it was fast and furious. Many are predicting that it will be slower this year than last. If you’re wanting to buy a home, NOW is the time to start looking. It may take some time to find what you’re looking for, so you’ll want to have your finger on the pulse early. When you’re ideal home pops up, you’ll want to have everything in order already so you can act fast and secure your dream home.
It’s Still a Seller’s Market2017 was a great year for sellers. There aren’t nearly as many homes on the market as have been seen in the past. Some say it’s because the baby boomers aren’t interested in downsizing, which doesn’t make room for the families who are ready to upgrade. Other say it’s because while construction is picking back up, builders are more focused on building larger luxury homes instead of home for first-time buyers. Whatever the reason, if you’re interested in selling NOW is the time to get your home on the market. Homes have been flying off of the market fast and furious, buyers are looking high and low for nice homes in great areas, and Colorado Springs fits the bill perfectly. The Colorado Springs real estate market is going to be booming this year, and speculations say that this fall is when it will pick up quickly - but don’t just wait until then. Let’s start selling a Colorado Springs home now, it gives you and head start on the rest of the competition.
Mortgage Rates on the RiseIt may not be what you want to hear as you’re looking for your first home in Colorado Springs, but it’s a possibility. While you really can’t predict with 100% reliability what the mortgage rates will do, they are predicted to rise this year. This means it’s more important than ever to get your finances in order. If you don’t have a down payment, now is a great time to start saving furiously. If you have a large amount of money on credit, you may want to start paying some of it off if your debt to income ratio isn’t appealing. Start talking with a Colorado Springs real estate agent and a mortgage lender to learn what you should do to make the most of your mortgage situation. When you’re ready to buy a home, it’s’ more important than ever to make your financial situation look great. Don’t change jobs, make smart choices, and plan ahead for what you want.
Colorado Springs Real Estate Agent
The MacGuire Team
6760 Corporate Dr
Colorado Springs, CO 80919
719-536-4324 or 719-660-6793