- Interest Rates are still below historic numbers.
- 88% of property managers raised their rent in the last 12 months!
- Credit score requirements to be approved for a mortgage continue to fall.
Blessings Realty | Colorado Springs and Monument Realtor
Changing minds about Realtors
In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.
Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage of income a renter spends on housing in each state, and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.
According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:
What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.
Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.
We perform top notch sales and marketing services for residential homes and land. We help home buyers find the right homes for their needs. Also specializing in new construction and rental properties. Whether you are a first-time home buyer or seller or have bought and sold many homes before, we will Read More…
Welcome and thank you for visiting our Blessings Realty website! We are Monument-based real estate experts providing information about the Monument and Northern Colorado Springs, CO real estate market.
While you’re here, please check out 80132 homes for sale in Monument, CO, as well as other real estate listings around the area. View listings, photos, market data, and use our detailed real estate filters to find the perfect place.
Please contact us today at (719) 425-8929 to buy or sell real estate in Colorado Springs and Monument, Colorado – or for help with your property management and probate real estate needs – we would love to speak with you!
Claire and Jeff Garlick of Blessings Realty