Blessings Realty | Colorado Springs and Monument Realtor

Changing minds about Realtors

  • Properties
  • About Blessings
    • Meet Our Blessings Team
    • Why Choose Us?
    • Designations
  • Neighborhoods
    • Cathedral Pines
    • Flying Horse
    • Kings Deer
    • Northgate
    • Woodmoor
  • Blog
  • Reviews
  • Contact Blessings

The Fed Announces Rates Will Hold Steady

February 5, 2021 By Claire Garlick Leave a Comment

The Federal Funds Rate is staying the same at 0 to .25%. 

The Fed’s interest rate decision doesn’t directly affect mortgage rates, but today’s rates remain historically low.

Home owners and home buyers can take advantage of today’s low rates by:

  • Buying a new home
  • Refinancing to get a lower rate or eliminate mortgage insurance
  • Financing home renovations
  • Funding major expenses (like college tuition)
  • Consolidating debt*

Curious about the Fed’s key short-term rate? Learn more in this article.

Don’t hesitate to reach out for a conversation about home financing.

 

* Debt consolidation does not pay off the debt, please consult a financial advisor regarding the effect of consolidating short term debt into long-term debt.

 

Article provided by R. Gomez, Loan Officer in Colorado Springs.

Filed Under: Buyers, Finance, First Time Home Buyers, Interest Rates, Loans, Millennials, Move-Up Buyers, New Construction, Rent vs. Buy, Sellers Tagged With: Colorado Real Estate, Colorado Springs, Down Payments, Finance, First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Millennials, Monument Realtor, New Construction, Rent vs. Buy

2021 Housing Forecast [INFOGRAPHIC]

January 22, 2021 By Claire Garlick Leave a Comment

 

Some Highlights

  • Experts project an optimistic year for the 2021 housing market.
  • With mortgage rates forecasted to remain low, high buyer demand is expected to fuel more home sales and continue to increase home prices.
  • Get in touch with us today to help you determine how to make your best move in the new year!

 

Article originally published at https://www.keepingcurrentmatters.com/2020/12/18/2021-housing-forecast-infographic/.

Filed Under: Buyers, Finance, First Time Home Buyers, Housing Market Update, Infographic, Interest Rates, Millennials, Move-Up Buyers, Rent vs. Buy, Sellers Tagged With: Colorado Real Estate, Colorado Springs, First Time Home Buyers, For Buyers, For Sellers, Housing Market Update, Infographics, Interest Rates, Millennials, Move-Up Buyers, Rent vs. Buy

Do You Have Enough Money Saved for a Down Payment?

October 30, 2020 By Claire Garlick Leave a Comment

One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.

A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”

Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.

According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was $310,600.” (These are the latest numbers available). NAR also indicates that:

“In 2019, the median down payment was 12 percent for all buyers, six percent for first-time buyers, and 16 percent for repeat buyers.” (See graph below):

That means if a qualified first-time buyer purchases a home at today’s median price, $310,600, with a 6% down payment, in reality, the down payment only amounts to $18,636. That’s nowhere near $62,600.

Knowing there are also programs like FHA where the down payment can be as low as 3.5% of the purchase price for a first-time buyer, that up-front cost could be significantly less – as little as $10,871 for the same home noted above. There are also other programs like USDA and loans for Veterans that waive down payment requirements.

The Point2Homes study also shares how much millennials have indicated they’ve saved for a down payment. As we can see in the graph below, 39% have already saved enough for a down payment on a median-priced home. Another 47% are close to reaching that goal, depending on the purchase price of the home.

Unfortunately, the lack of knowledge about the home-buying process is keeping many motivated first-time buyers on the sidelines. That’s why it’s important to contact us to understand the requirements in our area if you want to buy a home. Our team and your lender can guide you through the process.

Bottom Line

Be careful not to let big myths about home-buying keep you and your family out of the housing market. We would love to meet with you to help you better understand and plan for your options today.

 

Article originally published at https://www.keepingcurrentmatters.com/2020/10/13/do-you-have-enough-money-saved-for-a-down-payment/.

Filed Under: Buyers, Buying Myths, Down Payments, Finance, First Time Homebuyers, Infographic, Loans, Millennials, Real Estate Tips Tagged With: Buying Myths, Colorado Real Estate, Down Payments, Finance, First Time Home Buyers, For Buyers, Infographics, Millennials, Monument Realtor

  • 1
  • 2
  • 3
  • …
  • 8
  • Next Page »
Homes for sale Colorado Springs and Monument Colorado
Claire Boynton, The Platinum Group Realtors Monument Colorado Real Estate

Articles

  • Baby Boomers
  • Buyers
  • Buying Myths
  • Colorado Updates
  • Community
  • Construction Industry
  • Curb Appeal
  • Demographics
  • Distressed Properties
  • Down Payments
  • Education
  • Entertaining
  • Events
  • Explore Colorado
  • Finance
  • First Time Home Buyers
  • First Time Homebuyers
  • Fitness
  • Foreclosures
  • FSBO's
  • Gardening
  • Health and Fitness
  • Holidays
  • Home Design
  • Home Improvements
  • Home Maintenance
  • Home Office
  • Home Staging
  • Housing Market Update
  • Infographic
  • Interest Rates
  • Interior Design
  • Just For Fun
  • Loans
  • Local News
  • Millennials
  • Move-Up Buyers
  • New Construction
  • Pricing
  • Real Estate Tips
  • Rent vs. Buy
  • Sellers
  • Selling Myths
  • Senior Market
  • Sold Homes
  • Things to Do
  • Travel
  • Uncategorized

About Blessings Realty

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…

  • Email
  • Facebook
  • LinkedIn
  • Twitter

Find Monument, Colorado and Colorado Springs Homes For Sale

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!

Sincerely,

Claire and Jeff Garlick of Blessings Realty

Copyright © 2021 Blessings Realty · Site by Socially Exceptional

  • Terms of Service · Privacy Policy