It’s a pretty sure bet that we all have other things on our minds this time of year. If it’s not the frigid weather, it’s those holiday lists that haunt us day and night. House-hunting and home-buying are probably not on the top of our “to-do” lists. But, I’m here to tell you why they should be.
On November 9, 2009, Congress approved the tax credit extension for first time homebuyers, and EXPANDED IT, opening it up to some existing homeowners also. The credit is now 10% of the home price, up to $8000 for first timers, and up to $6500 for move-uppers or move-downers. You must be under contract by April 30th of 2010, and closed by June 30th. To be considered a first timer, you can’t have owned a home in the past 3 years. For existing…
It's cold in Boulder.....twenty plus below.....bitterly cold. The Colorado ski areas are thrilled, two feet or more of fresh snow! Be patient, it's warming up, not just weather-wise but in the real estate market as well.
According to the Denver Post on December 9th, 2009, Metro Denver showed its first year-over-year improvement in 11 months, as the number of homes sold in November surged 23% over the same month in 2008. The economy is warming up and that is good news. Confidence levels are improving and that will be a boost to the economy across the board. Part of this surge may be due to the rush of first time homebuyers who thought the tax credit program was going to expire on November 30th. The good news: it has been extended for five…
We are sure that you have been barraged with negative news reports regarding the status of real estate. We are here to assure you that having a national real estate report is like having a national weather report. It may be snowing in the northeast, rainy in California and pure sunshine in Boulder, Colorado.
Here are our local predictions for the year 2009.
Warmer weather will bring two things, more buyers and more inventory.
Eager to get the ball rolling on house purchases, the lenders will be lowering the interest rates. Historically, the interest rates have increased as we get into the buying season. Now would be a really good time to refinance.
While everything is not rosy in our marketplace, we in Colorado are in a much