Laura Kaan, REALTOR
719-200-4044
6760 Corporate Dr. Ste 300
Colorado Springs CO 80919

Laura's Colorado Springs Real Estate Blog

Prices Rose 7.1% Year-Over-Year [INFOGRAPHIC]

 Prices Rose 7.1% Year-Over-Year [INFOGRAPHIC]
  • CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
  • With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
  • 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
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Homeowner’s Net Worth Is 45x Greater Than A Renter’s

Homeowner’s Net Worth Is 45x Greater Than A Renter’s

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

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Whether You Rent or Buy: Either Way You’re Paying a Mortgage

 Whether You Rent or Buy: Either Way You’re Paying a Mortgage

 

Whether You Rent or Buy: Either Way You’re Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

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The Impact Your Interest Rate Has on Your Buying Power [INFOGRAPHIC]

The Impact Your Interest Rate Has on Your Buying Power [INFOGRAPHIC]
  • Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage.
  • Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now.
  • Your purchasing power is greatly impacted by the interest rate you secure. Act now before rates go up!
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Will 2017 be a buyer’s market or a seller’s market?

In some years and some markets, the answer is obvious — in 2016, Denver was a seller’s market, and San Francisco’s been one for quite a stretch.

 

But sometimes, it’s not so clear, and with mortgage rates on the up-and-up and robust plans for the economy ahead, all the plans for 2017 seem to be out the window.

 

Here’s what four economists had to say about whether 2017 is leaning toward buyers or sellers.

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