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Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

August 10, 2022 By Claire Garlick Leave a Comment

Image Source: KCM Blog

Some Highlights

  • The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022.
  • Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years.
  • Connect with Blessings Realty so you can make your best move this year!

 

Article source: https://www.keepingcurrentmatters.com/2022/08/05/housing-market-forecast-for-the-rest-of-2022-infographic/.

Filed Under: Buyers, First Time Home Buyers, Housing Market Update, Infographic, Interest Rates, Luxury Buyers, Move-Up Buyers, Pricing, Sellers Tagged With: Colorado Real Estate, First Time Home Buyers, For Buyers, For Sellers, Housing Market Update, Infographics, Interest Rates, Pricing

A Window of Opportunity for Homebuyers

August 5, 2022 By Claire Garlick Leave a Comment

Image Source KCM Blog

Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales.

But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but to the most recent normal years to show how the current housing market is still strong.

Higher Mortgage Rates Are Moderating the Housing Market 

The ShowingTime Showing Index tracks the traffic of home showings according to agents and brokers. It’s also a good indication of buyer demand over time. Here’s a look at their data going back to 2017 (see graph below):

[Read more…]

Filed Under: Buyers, First Time Homebuyers, Rent vs. Buy Tagged With: Colorado Real Estate, First Time Home Buyers, For Buyers, Housing Market Update, Infographics, Rent vs. Buy

How to Properly Maintain a Rural Property

July 29, 2022 By Claire Garlick Leave a Comment

Image Source: RISMedia

Living in the country is at the core of many people’s dreams. Fresh air, gardens and wild animals are a big part of the draw. If you’re considering a move to the country, there are some things you should know about maintaining a rural property. Here are a few tips to help you keep your rural home in top shape.

Water Well
Most rural properties rely on water wells for their water supply. This means that you’ll need to have your well regularly inspected and serviced to ensure that it is functioning properly. You’ll also need to be sure to know how your pump and tank work and how to troubleshoot and fix minor issues they may have. You’ll also want to have the proper equipment on hand in case of a power outage or other emergency or install a generator to power the pump in the absence of electricity.

Septic System
Another thing to be aware of if you’re moving to the country is that most rural properties rely on septic systems for their wastewater. This means that you’ll need to have your septic system inspected and pumped every few years to keep it working properly. You’ll also want to be careful about what you put down your drains and toilets as some things can clog and damage your system. When buying a property, it’s a good idea to have local experts come out and do an inspection on the system to assess its age, size, and condition to determine whether it is adequate for your family’s needs.

Foliage
One of the most attractive features of rural properties is the usually larger property sizes. Even if a property doesn’t have acreage, the lot sizes tend to be much bigger than city lots. If you’ve ever mowed your lawn and a few days later the grass was shin-high already, imagine how much effort it will take to tend a large yard. If you end up buying a rural property, this is a great time to consider a riding mower. They are versatile and can pull utility trailers, or even small garden plows. You’ll also need a variety of trimming devices for trees and bushes. In the country where “growing like a weed” manifests into reality, you’ll need to round up all the gardener’s power tools you can get!

Security
There is a common notion that living in the country is automatically safer than living in the city. While this may be true in some cases, there are also certain dangers that come with rural living. Because properties are often more spread out, it can take law enforcement longer to respond to an incident. This is why it’s important to have a good security system in place as well as a few well-trained guard dogs. You should also be aware of your surroundings and know who your neighbors are and how to get in touch with them in case of an emergency.

With a little bit of preparation, country living can indeed be the stuff of dreams. Just be sure to do your research and be proactive with maintenance to manage the challenges that come with a rural property.

 

Article source: https://blog.rismedia.com/2022/how-to-properly-maintain-a-rural-property/.

Filed Under: Home Maintenance Tagged With: Colorado Real Estate, Home Maintenance, owning a home, Real Estate Tips

Should I Rent or Should I Buy? [INFOGRAPHIC]

July 22, 2022 By Claire Garlick Leave a Comment

Image Source KCM Blog

Some Highlights

  • It’s worth considering the many benefits of homeownership before you make the decision to rent or buy a home.
  • When you buy, you can stabilize your housing costs, own a tangible asset, and grow your net worth as you gain equity. When you rent, you face rising housing costs, won’t see a return on your investment, and limit your ability to save.
  • If you want to learn more about the benefits of homeownership, get in touch with us today.

 

Article source: https://www.keepingcurrentmatters.com/2022/07/15/should-i-rent-or-should-i-buy-infographic/.

Filed Under: Buyers, Infographic, Rent vs. Buy Tagged With: Colorado Real Estate, First Time Home Buyers, For Buyers, Infographics, Millennials, Rent vs. Buy

Ways to Improve Your Home’s Roof Without Replacing It

July 15, 2022 By Claire Garlick Leave a Comment

Image Source RISMedia

Your roof protects your family and your belongings from the elements, but it also adds to the curb appeal of your house. When you discover that your roof needs work, you may wonder if it should be replaced or repaired. Replacement is costly, so you may be on the lookout for more affordable options. Here are some ways you can improve your roof without replacing it.

[Read more…]

Filed Under: Home Improvements, Home Maintenance Tagged With: DIY, Home Improvement, Home Maintenance

Luxury Homes Are in High Demand

July 8, 2022 By Claire Garlick Leave a Comment

Image Source: KCM Blog

As people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn’t only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.

According to the Luxury Market Report from the Institute for Luxury Home Marketing, there’s been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says:

. . . North America recorded the fastest growth of demand during the first year of the pandemic. Also, demand has . . . consistently increased, and even in April 2022, we saw a higher volume of sales compared to 2021.”

If you own a luxury home, it could be a great time to list your house today while demand is so high. But first, let’s understand where the demand is coming from.

What’s Driving the Heightened Buyer Demand for High-End Homes?

The same report says more people have reached a certain net-worth threshold, and that’s contributing to the increased interest in luxury housing:

In 2020, we saw a 2.2% growth in the number of individuals with wealth of over $5 million in net value, but in 2021 that number grew by an outstanding 19.8%.

This total increase has resulted in the introduction of over 660,000 new individuals into the high net-worth bracket, which, combined with the existing affluent looking to both diversify and add new properties to their portfolio, provides a true insight into why the demand for luxury properties skyrocketed during 2021 and into 2022.”

So, if you’re looking to make changes to your real estate portfolio or are looking to sell your current house, it may be a great time to list and benefit from the high demand for luxury homes today.

Bottom Line

If you own a luxury home and want to know how strong demand is in your area, reach out to a trusted real estate advisor today. We can help you capitalize on current market conditions while buyer demand for upscale homes is so high.

 

Article source: https://www.keepingcurrentmatters.com/2022/06/09/luxury-homes-are-in-high-demand/.

Filed Under: Housing Market Update, Luxury Market, Sellers Tagged With: Colorado Real Estate, For Sellers, Housing Market Update, Luxury Market, selling a home

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Claire Boynton, The Platinum Group Realtors Monument Colorado Real Estate

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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…

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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

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