Denver Real Estate Blog
You hear it everywhere, the tell-tale sound of allergy season. A sneeze two aisles over in the super market and the unmistakable red eyes we see in the mirror at the end of the day. We have patiently endured what seemed like a non-ending downfall of rain this spring but sunny skies are ahead. Spring and summer can be a little tough for Denver’s allergy sufferers, but the price is little for what this beautiful area gives to us.
Coping with Allergies
The biggest thing you can do to make this allergy season better is to be prepared. Being aware of what you are allergic to will help you to make better decisions. Keep an eye on the pollen counts especially during the spring and summer when the pine trees are active. Always stay consistent with your allergy medicine because skipping on good days can make the days following much worse.
Don’t go outdoors if it is windy as more pollen will be in the air, but if you have to, try to cover your mouth with a mask or stylish bandana. If you or your neighbors are applying fertilizers or pesticides stay indoors with the windows shut. When you jump in the car and take a trip around the city, turn on the air conditioner instead of rolling down your windows. I know this is tough, especially on gorgeous days, but it will help you navigate the days better.
Keep your Denver Home Allergy Free
Our homes are our safe zones and hopefully allergen free, but you might be amazed by how many allergies are caused inside. The simple act of dusting can cause your allergies to go haywire. If you are really suffering, I recommend enlisting someone to help out with this task while you’re out of the home. Vacuum cleaners can also kick up quite a bit of particles. Find a great excuse to be out of the home at this time. Or if this is not an option, one option is to get an air purifier which will help keep the airborne particles to a minimum.
During allergy season try to keep your house as clean as possible. Shoes tend to track in many allergens and pesticides so it is a good idea to remove them at the door so they don’t contaminate the home. Pets bring in many different types of pollen so make sure they are bathed regularly, especially during the spring and summer. Although it may be a challenge, try to keep them out of your bedroom.
Keep it Clean and Breathe Easier
Try to shower immediately after coming indoors or working in the yard. This will wash off the pollens and grasses before they can fully affect you. During severe outbreaks, taking a shower before bed may help as well. If you are outside often during allergy season, change your clothes in the laundry room so the pollens in your clothes don’t keep you up at night. Make sure you are washing bed linens and curtains often during allergy season as well.
However, Don’t Become an Allergy Hermit!
There are many little things you can do to help ease your allergies during this season. One thing you should never do is lock yourself in your home and hide. If you keep an eye on the pollen count and keep everything clean you can enjoy spring and summer. So take a walk on one of the trails, bike near the creek, and enjoy everything mountain living has to offer. Get out and enjoy yourself. Oh, and, gesundheit.
We can’t seem to stress it enough, Denver is one hot housing market and with that comes along the trials, tribulations, and eventually, celebrations when looking to buy a new home. The truth of the market is this; in Denver, there are limited options when buying a new-build home and even more limited options when buying a new-build home that is affordable. Recently an article was run in the Denver Post detailing this very epidemic that Denver is in the midst of and trying to figure a way out of.
The Truths about New Build Homes
In the article, homebuilder David Sinkey had the realization two and a half years ago that there was going to be a trend of new-build homes that were not affordable for most clients. While the housing downturn culled the skilled workforce needed to build new homes this caused a severe labor shortage which in return pushed up costs. If that wasn’t worrisome enough, finished lots that were once in oversupply were quickly being absorbed with no good prospects to replenish them.
Our statistics are staggering as a city, for example, by the end of April this year, many Denver area builders had already hit 70% to 90% of their sales goals for the year, that’s right, the whole year. Unlike the rest of the nation where most builders had hit about 43%. Buyers in Denver are having to wait anywhere from nine months to a year before they can occupy their new home. Prices for any of the finished lots which are all ready to build and include all utilities are at a record high price wise and in such short supply around the city that single-family permits continue to run at a fraction of historical averages despite the continuously growing demand.
Faced with limited workers and land, many Denver builders target their resources on homes anywhere from $400k - $500k with the only long-term problem being that median incomes cannot keep up with the pace of rising housing costs. Over time, this gap will only continue to grow making it harder and harder for people to buy any new-development houses.
Find a Builder Who Will Give You All You Want
The facts are in the pudding with this one and as real estate agents we can say that this pattern will not change in the near future. But because we are real estate agents and because we do want our customers to get everything they want in a custom new-build home and then some, we have a recommendation of where to go to achieve all of these things at a reasonable price. Recently, New Era Group has partnered with the prestigious MAG Builders of Denver to sell the cream of the crop in custom homes. MAG Builders are like none other in their classes, attentive to detail and building a home to build a lifetime in, not just a quick fix, these guys know what it takes to really build something extraordinary. If you feel you are ready to make the home of your dreams, check out these favorites of ours at NewConstructionDenver.com and make sure to give us a shout when you are ready to start looking for a good spot to place your dream home.
From the vantage point of Denver, 200 named peaks are visible with 32 of them towering above 13,000 feet! Enjoy exploring Denver this July and all our great state of Colorado has to offer!
Denver 4th of July Weekend
This 4th of July weekend, make sure to treat yourself to festivals, concerts, pro-sports events, music, parades, fun runs, fireworks and more! Learn about the many fun entertainment options Denver has to offer here.
Cherry Creek Arts Festival (July 3-5)
The Cherry Creek Arts Festival weekend event is "a world-class and award-winning celebration of the visual, culinary and performing arts, and enjoys an attendance of 350,000 visitors over the course of the three-day event". Get details here.
City Park Jazz (July 5 - August 9)
This City Park Jazz season is going strong with a lineup of FREE Sunday concerts in the park. "Spanning 10 weeks across June, July and August, the collection of local musicians in this year's lineup crosses cultures, styles and genres in a way that reflects the musical and cultural diversity of Denver". Learn more here.
Colorado Shakespeare Festival (Now - August 5)
The festival seeks to "expand the cultural richness of the region by inspiring, challenging, and cultivating the imagination of audiences and artists". Plays are performed beneath summer night skies! Get tickets here.
Denver Urban Market (July 9 and 23)
The Urban Market is a great place to shop in Denver. At the market you will find "an amazing array of local arts and crafts sold direct by the artist, clothing, jewelry, antiques, furniture, holistic services, unique treasures, delicious food, and just about anything else you could want". Get detailed information here.
Drums Along the Rockies (July 11)
Drums Along The Rockies, Colorado's premier marching music event, is "annually one of the best and most popular events of its kind in the world. Held at the beautiful Sports Authority Field at Mile High, Drums Along The Rockies has become a Denver institution and a thrilling summer event for families across Colorado and the Rocky Mountain region". Learn more here.
Mile High Global Bazaar (July 17-18)
The Mile High Global Bazaar is an "annual celebration of international cultures, arts, crafts, merchandise, food, and music. The event will consist of exhibitors from around the globe representing a vast array of cultures and goods". Get details here.
Colorado Dragon Boat Festival (July 18-19)
The Colorado Dragon Boat Festival features three main attractions: "The thrilling ancient sport of Dragon Boat Racing, the colorful fun and flavorful Marketplace and Taste of Asia Food Court, and various Performing Arts". Learn more about this event here.
Denver Post Underground Music Showcase (July 23-26)
The 15th Annual Underground Music Showcase features "more than 400 performances on 20 stages along South Broadway for FOUR days, the UMS returns as this region's leading indie music festival". Learn more event information here.
The Color Run (August 1)
The Color Run, also known as the Happiest 5k on the Planet, is a unique paint race that celebrates healthiness, happiness and individuality. Tickets go fast, so get your today! Visit the event website here.
This year has kicked off with an array of experts trumpeting the Denver housing market's strength and resilience. Inventory is at record lows, home prices continue to rise, and foreclosure activity has ebbed to lows not seen since before the 2007 downturn. Spring and summer is the time for selling houses. The months of April, May, June, and July typically account for more than 40 percent of all housing transactions annually, thanks in large part to good weather.
Five Essential Things You Need To Know About the 2015 Summer Home Buying Market
- Inventory shortages: "The story of the day is on the inventory front," stresses Lawrence Yun, chief economist of the National Association of Realtors (NAR). It's a sentiment echoed by many. The number of available homes in metro Denver has plunged to a record low, thanks to both an abnormally small supply of existing homes for sale and a dearth of new construction not keeping pace with the current demand.
- Increased Competition: In addition to a dwindling supply of available homes, the number of buyers has surged. And not just traditional buyers - investors have comprised a sizable chunk of the buyer pool since the downturn and continue to do so. Real estate investors are responsible for about 25 percent of the existing home sales each month. You, the prospective buyer, need to be prepared to move fast if you find a property you'd like to buy. "Buyers need to be patient because many will be outbid by others and might have to bid on multiple homes," cautions Jed Kolko, chief economist of Trulia. Yes, indeed.
- Cash is Still King: Given the steep competition, all-cash buyers who can close a deal relatively quickly offer great incentive to sellers. "Cash will still be king if there are multiple bids because from a seller's view, they want a deal with fewer hiccups, "says Yun. My sellers are surprised to hear that about 30 percent of home sales each month are all-cash purchases.
- The Good News: Lending Tree chief executive Doug Leboda says in light of the recently unveiled new home-lending standards, lenders are slowly starting to make it slightly easier to get approved. Talk to a couple of lenders, they'll tell you things have improved over the past few years on the loan front.
- More Good News: We are seeing a definite correction in the appraisal business. A few years ago appraisers were consistently under-valuing properties, reacting to the over-conservative nature of their shell-shocked underwriter patrons. Today we are seeing the vast majority of appraisals coming in at value, causing far fewer problems for buyers and sellers alike.
Home owners in Denver often “winterize” their houses and their cars, for that matter. However, we should pay the same attention in preparing our houses for summer! Following are some tips to prepare your residence for the coming warmth of the Denver sun.
- Pay attention to air quality. For the most part, your house has been closed up for at least 3 to 4 solid months. Open those windows now that it’s warm, and place a plant beside your bathroom sink to filter the air. Not just any plant will do. The best bang for your buck is provided by: spider plants, English Ivy and small-leafed rubber plants. Click here for more suggestions to improving air quality in your home.
- Refrigerator maintenance isn’t just for the professionals! It is easy to clean the coils of your refrigerator, so that cold beverage will always be there to greet you after a day of fun in the sun. Unplug your refrigerator. Remove either the top grate or base plate (depending on model, check your manual) and vacuum it out with a vacuum attachment. This will keep it from overheating when you most depend of cold refreshments. I wish I could tell you that this is an exhaustive list of how to get the most out of the summer in Colorado, but here are the other appliances and machinery in your life that will need to be maintained to make this Denver summer one to remember.
- Your front door takes a beating from the Wintery Denver gusts. Take time to clean, repair or replace your screens, if necessary, that way you call enjoy the breeze through your screen doors and windows. Don’t forget to tighten and lubricate closers and hinges, especially on wooden doors that often get warped by the changing Colorado temperatures.
- You can prevent the scorching noon day sun from undermining all your air conditioned efforts by applying sun-screened fabric curtains or reflective film to your windows and window treatments. This will maximize the efficiency of your AC and make for a more enjoyable summer. Click here for more tips on cooling off this Denver Summer.
- The crackling wood in the fireplace that brought such warmth this winter is now just a big, brick hole in your living room. Place a terracotta potted plant in the center for a lovely look. Just make sure that you are not alone in basking in the Denver sun, and your potted friend gets some rays, as well. Not sold on the plant idea? Click here for some other alternative ideas for that fireplace and hearth.
- Bugs gotcha itching? There are many wives tales to avoiding mosquito bites. Lighting a citronella candle while you enjoy dinner on the deck is often enough to discourage bugs from having you for their picnic. However, Southern Living has many great ideas for keeping the bugs in Denver in the air and not on your skin!
Enjoy Your Home Inside and Out
The mountains alone are breath taking. But, as a homeowner in the Denver metro, if you take the necessary steps to enjoy your home as well, your summer will not end when you walk through your front door. Print out the following list and have fun in and out of the sun.
No matter how amazing Denver is, getting out of town for an adventure is often the best remedy for those summertime blues. With some of the best access to the outdoors in the country, Coloradans love their biking, hiking, boating and skiing. However, some of the most ideal spots to do these activities are a little farther outside of the Denver metro to make it a “day trip” adventure. Don’t lose heart! Buy a tent. Granted, you can always rent a cabin if one is available, but there’s just something about communing with nature, embracing the majesty of a campfire. Okay, I’m really in it for the s'mores and hot dogs, but let’s not dwell on that.
Developed Camping to Keep Luxuries Nearby
In Colorado, there are basically two types of camping. There are developed campgrounds. These are segmented plots to pitch a tent and park your vehicle. You are nearer the amenities, events and restroom facilities. These are usually available for reservations through either Recreation.Gov or Colorado State Parks. There are 10 state parks within 60 miles of the Denver metro! The user interface is quite easy. You simply look at availability of an electric or nonelectric camping spot within two hours of Denver. This will allow you to arrive before dark on Friday and enjoy a leisurely weekend and return home to the Denver metro by Sunday evening, renewed and ready for your week.
National Park System for Enrichment
If you want a dash of history with your travels, consider camping at one of the many National Parks in Colorado. You learn about the fur traders, the Santa Fe Trail and see dinosaur fossils and kayak! The fun simply does not end in Colorado!
Dispersed Camping for More Adventure
For the more adventurous among you, dispersed camping is the other type of camping available in Colorado. This is a system where the state of Colorado has set aside land for campers. The rules are that you can’t be within 100 feet of a water supply or a road and please leave no trace that you were there. The advantages to this are that you can’t hear your neighbors (or they can’t hear you), you can choose exactly where you would like to camp, and you can choose to pitch your tent in a different space each night! When the developed campgrounds are all reserved (which can happen quickly here in the mountain state), the dispersed camping areas tend to always have space for one more tent. Dispersed camping is located everywhere developed camping is, and even a few more.
Camping by Amenities
You can also choose campsites by amenities. Are you wanting to fish or boat? You won’t have to look far. Chatfield State Park is less than 20 miles from Denver and boasts of jet skiing, fishing, boating and a swimming beach. There is something for every member of your family, and you don’t even have to fill up your gas tank to get there!
Return to a Great Place
The housing market is amazing here in Denver. Not only can you own a fantastic home, you have the Rocky Mountains as your view! When the mountains come a-calling, and they will, throw a tent in the car and drive an hour. You won’t regret it. You’ll return to the beautiful home you just left, and the mountains are always glad you came!
Now that spring is upon us, I’m sure many of you homeowners are finding yourselves spending more and more time outside tending your gardens. Whether you are a lover of flowers, a vegetable connoisseur, or an all around green thumb, we decided to put together some helpful and unique tips for helping you make your garden the biggest and greenest it can be this year.
For the Veggie Lovers:
- It may come off as an odd pairing but the truth is, sunflowers and cucumbers make amazing growing companions. They both require similar soil conditions and the tall stalks of the sunflowers give the cucumber plant something sturdy to climb, not to mention your cucumbers will be sweeter after growing next to these sunny mates.
- Want to dry some of the herbs from your herb garden? The quickest way to do that is to lay a sheet of newspaper on the seat of your car, arrange the herbs in a single layer, then roll up the windows and keep the doors closed. The herbs will dry perfectly and will also leave your car smelling fresh.
- Avoid planting any vegetables near trees that tend to steal nutrients from your veggies and can also cast shade onto the garden. Most vegetables like a lot of light so it’s important to find an area where the soil is rich with nutrients and there is a lot of sunlight.
- Veggies need a lot of water, up to an inch a week, so make sure to keep them hydrated on a daily basis.
Suggestions for All Gardens:
- Rich in calcium carbonate, dried eggshells work great as a natural fertilizer. Crush them up into tiny pieces before distributing them in the soil of your garden.
- Apparently plants like a good pot of tea too! Chamomile tea is great for keeping your plants healthy, keeping away bacterial and fungal infections. But make sure the tea is cool before you give your plants a drink. Tea isn’t the only thing plants like, when you cook pasta or vegetables and have left-over cooking water, don’t pour it down the drain but let it cool and give your plants a nice nutritious watering. Just like humans, your plants will be happier and more green because of the nutrients in the “vegetable soup”!
To Keep Clean While in the Dirt:
- Just one tip for all of those gardeners out there, while some of you may wear gloves while you garden, there are those of us who like to stick our hands in with the dirt and earth. But unfortunately that can leave our hands looking mighty dirty and hard to clean. To prevent accumulating dirt under your fingernails, draw your fingernails across a bar of soap and that will seal the undersides of your bails so dirt has nowhere to collect. When you are finished gardening, use a nailbrush to remove the soap and your nails will be super clean.
Click here for a list of things to do when cleaning up your gardens and yard this spring from pruning to weeding and everything in-between. Gardening is a therapeutic thing for many people out there, a place to relax and enjoy the budding of nature. Remember, keeping up gardens will also be a bonus when you decide it is time to sell your house. Many homeowners look at the yard and gardens when buying to see if they were kept up and do not require more than the usual amount of work. So keep your gardens growing, green, and full of life this spring!
Music festivals have been around for hundreds, if not thousands of years. Arguably the most historic are Monterey Pop and Woodstock. However, with the availability of digital music, the concert experience is one of the few ways to interact with the musician or group that can’t be manufactured or bootlegged. That being said, with the growing cost of venues, the ticket prices are skyrocketing. Partner that with the onus of burden a new group feels to sell out a large venue or lose money. All of these factors have made music festivals more popular than ever. The up and coming singers and song writers are able play large arenas, and the more well-known artists can be the headliners/anchors of the festival. The music fans also benefit, as they can see many of their favorites and learn about similar up and coming songsters without going broke!
The Highs and the Lows
June will be hot for music regardless of the temperature. June 13, 2015 Denver’s LoHi District will host its music festival just outside of Denver’s downtown! This is only one day, but runs from 11:30am to 10pm and has something for everyone. For a list of the lineup, to buy tickets or to inquire about parking click here.
Banjos, and Fiddles, and Barns. Oh My!
Find yourself sitting our waxing nostalgically about the banjo and fiddle? Well, hang on until July, and you will weep no more! The Rocky Mountain Old-Time Music Festival runs from July 9 to July 12, 2015. This is the sixth year for this amazing festival, located on a working ranch in Berthoud, CO. Where else can you square dance in a barn in 2015? For all the fun and fiddles, click here. http://www.thecroma.org/festival/
Gentlemen, Start Your Festival!
Gentlemen on the Road in Salida Stopover (though I think they’ll be on stage and NOT actually on a road) will make a fantastic end to your summer of music. This two day event beginning August 21, 2015 festival will take place at Vandaveer Ranch and will offer camping that night for concert attendees. Mumford and Sons will be the anchor, making the $199 cost of the ticket a steal! Click here to buy your tickets. There is NO additional charge for camping!
Get Your Groove On
There is never a dull moment discordant groove in the greater Denver metro. The summer of 2015 is no exception. Great music is born here and returns here to thrive. Have a GREAT time getting your festival on!
Did you know that Denver's bright blue sky really is bluer than many other cities'? Because of Denver's elevation, the air has less water vapor than it would at a lower altitude, making for a gorgeous sky! So this June, take some time to get outdoors and enjoy our beautiful community.
City Running Tour (June 3)
Join this tour "for an exciting run through Downtown Denver featuring landmarks, hidden gems, and a step over the City's official Mile-High elevation marker! Our return trip will take us straight down the middle of the 16th Street Pedestrian Mall to historic LoDo". Learn registration information here.
Capitol Hill People's Fair (June 6-7)
A celebration of Denver's diverse urban community, the Capitol Hill People's Fair is "a great weekend of entertainment with events, activities and attractions suitable for all the entire family. As one of the leading arts and crafts events in the region, visitors have the opportunity to buy all manner of wonderful creations". Get details here.
Denver Chalk Art Festival (June 6-7)
More than 200 professional, amateur and student artists will "delight and amaze Denverites with their incredible talents in what has become one of the city's most treasured events. Over the course of two days, spectators will watch as the intricate chalk paintings come to life and spread out to adorn four downtown blocks in and around Larimer Square. Visitors will enjoy live music, food and beverages while also having the rare opportunity to interact with the artists as they work". Learn event details here.
Kurious - Cabinet of Curiosities from Cirque du Soleil (Opens June 11 at the Pepsi Center)
"What if you could alter reality at will? Delve into a world of curiosity where seeing is disbelieving. The show immerses you in a mysterious and fascinating realm that disorients your senses and challenges your perceptions, leaving you to wonder: Is it real, or just a figment of my imagination?" Learn more here.
National Get Outdoors Day (June 13)
Getting involved in Get Outdoors Day will mean you are part of a nationwide effort to reconnect American youth with outdoor activities and healthy lifestyles. Come fish, bike, jump, garden, climb, paint, build, paddle, learn, dance, jump, eat, explore, and play! Select adaptive recreation activities are available for people of all backgrounds and abilities. Get detailed information here.
Denver Botanic Gardens Summer Concert Series Begins (June 16)
Situated in one of the nation's top botanic gardens, these concerts "offer an unrivaled ambiance, pairing a breathtaking setting with music from some of the world's most sought-after acts". The concert kicks off this year with the Colorado band, Hot Rize on June 16th. Learn more here.
Taste of the Broncos (June 16)
Taste of the Broncos is a casual, outdoor, tailgate style, fun-filled party at Sports Authority Field at Mile High! And, it's all for a great cause! Live entertainment, including blue grass bands performing on the Noble Energy Sports Legends Mall and the Colorado Symphony in a first-ever performance on the field. Denver Broncos players, cheerleaders, alumni and Miles appearing as "sous chefs" and signature desserts on the field under the Colorado summer sky". Learn more about this event here.
Do at the Zoo (June 18)
Come celebrate all the amazing things Do At The Zoo has helped Denver Zoo accomplish over the past 25 years. Graze on sample dishes from over 60 of the city's finest restaurants and belly up to the watering hole for unlimited drinks featuring the region's best wines and cocktails, all while enjoying our community's top live entertainment. Get details here.
Westwood Music Showcase (June 20)
The Showcase is a celebration of our state's vibrant music scene. Colorado is home to internationally renowned experimental bands, pioneering folk artists, Grammy winners and much, much more. Come enjoy, "on an outdoor main stage in the heart of Denver, the best local talent the city has to offer". Learn more event information here.
Cherry Blossom Denver Festival (June 27-28)
Japanese culture and heritage are "showcased in this annual event, now in its 42nd year. Dance, taiko drums, and martial arts are featured on the outdoor stage, while inside the Denver Buddhist Temple are food sales, exhibits, and demos. Free admission. Charge for food". Visit the event website here.
The question I'm asked all the time by friends, colleagues and clients who are still renting is whether it's too late to buy a home. "Are we heading for a big downturn?" and "Are we too deep in the market cycle to buy?" they wonder. For those of you who read my newsletter and know me well the following will sound familiar but it bears repeating: timing the real estate market perfectly is extremely difficult (maybe even impossible) and those who try usually fail. So don't try to time the market. Instead, look at factors like the ones below to see if home ownership is right for you.
1. You should buy a home when you feel it's the right time in your life to do so. Don't try to time the market, instead time your life. Are you getting married? Sick of paying skyrocketing rents? Looking for a bigger place for you and your family? Want your own backyard for the kids to play in? Want to be part of a neighborhood community? Plan on staying in one place for a number of years? Want to build long-term wealth? These are the types of questions you should ask yourself when considering whether you want to own a home. To the extent you say yes, home ownership might be the answer for you.
One important stat to keep in mind is that the average rental household in the U.S. has a total net worth of only $5,500. In contrast, the average homeowner has a net worth of $195,500 - that's 36 times those who rent! Over the past 15 years, this multiple has ranged from as low as 31 times to as high as 46 times the net worth of renters. You don't want to try to time the market, but over the long term home ownership is the tried and true path to wealth accumulation and financial security. (So is owning rental property, by the way. Call me if you'd like to learn more about that as well.)
2. Interest rates remain at record lows but this can't last forever. No one knows when they're going to rise (remember, you can't time the market!), but rise they will at some point in the future. Though home prices have gone up the past several years, low interest rates continue to make homes relatively affordable (especially compared to renting). Once interest rates do rise the window of home ownership affordability will truly begin to close for a lot of potential buyers and they will be sorry they didn't act when interest rates were at 50-year lows.
To illustrate the numbers, assume you are purchasing a $210,000 home with a 5 percent down payment. The Principle + Interest payment at 4 percent interest would be $952 per month. Just a 1 percent interest rate increase to 5 percent would result in a payment of $1,070 per month for a total increase of $128/month and $1,416/year. Now assume that rates tick up to 6 percent. That increase would result in a 21 percent increase in payments from $952 to $1,196. Where you really see the effect of these increases is when you hold the property for the full 30 years. On a $200,000, 30-year fixed-rate mortgage that increases from 4-5 percent, the borrower who obtains the 5 percent loan would pay an additional $42,772 in extra interest as opposed to the borrower who paid just 4 percent interest. That's 21.4 percent of the total loan amount! This is why a lot of folks who don't purchase a home while interest rates are near record lows are going to regret it down the road.
3. The main reason the average home owner has so much more personal wealth than the average renter is that over time, homes appreciate in value. Over the past 44 years, homes in metro Denver appreciated 6 percent per year, about 1 percent above the inflation rate. If you buy a $200,000 home, you can expect over the long term its value to rise about 6 percent every year. This means you'd make $12,000 in appreciation the first year, an additional $12,720 the second year, another $13,483 in the third year, and on and on. It's that simple. So if you want to build wealth, your best bet may be to take advantage of these numbers and buy a home for the long term. I can help you do this. Call me and let me show you how.