This has been one red hot summer in the real estate market in the Denver area. With buyers getting into bidding wars over houses, offering to pay over the appraised value, writing compelling letters to sellers, waiving inspection rights and other unheard of techniques, there’s hope. In September, there has been more inventory released to the market, the FEDs did not raise interest rates and there have been some price decreases on housing in the Denver area. After a very competitive season, there’s hope. It is a great time to buy a home in Denver with property values still on the rise and expected to appreciate on average 11% in the next 5 years.
Additionally, an average renter spends about 30% of his income on rent versus a home owner spending only 15% of his income on mortgage, not to mention the tax breaks. Would you rather be a renter or would you rather own?
Watch this 9News video for the full market analysis and predictions and call us to get your home evaluate for sale or start a search for a new home.