Finance and Mortgage Advice

Found 6 blog entries about Finance and Mortgage Advice.

It isn’t any wonder that people flock to Colorado Springs for their next home. According to the U.S. News and World Report “Best Places to Live”, Colorado Springs ranked second! And data from the U.S. Census shows that Colorado is currently the seventh fastest growing state in the country. With that in mind, you might be surprised to know that there are also numerous local, state, and national down payment programs available to Colorado home buyers.

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Many people don’t believe they can afford to buy a home, so they continue to throw away thousands of dollars in rent year after year. Sadly, these rental payments could be used to build equity on a home instead. One big reason for this is because many people are simply not aware of the first time home

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The most recent numbers show another strong quarter for the Colorado Springs housing market.

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Compared to Q3 of 2017, the total number of listings and days on the market remained virtually identical. Homes priced between $300k-$500k along with the $1million+ market gained momentum, but the number of units sold under $300k declined by 26% due to the extreme lack of inventory.

One interesting indicator during this quarterly cycle is the median sales price. Although our local market values have increased another 11% over the same period last year, the current median sales price is down 2% compared to Q2 of 2018.

Keep An Eye On Interest Rates

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Mortgage interest rates also continue to rise. According to Freddie Mac, the average rate for a 30-year

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Buying your first home is exciting and nervewracking all at once. In fact, most people say that buying a home is more stressful than bankruptcy, divorce, and even death of a loved one.

Getting stressed and overwhelmed during the homebuying process can lead to you making some very bad decisions. And when it's your first home buying experience, you'll also be prone to making mistakes simply because it's your first time navigating the homebuying-arena.

There are certain mistakes many first-time homebuyers make. Let's look at 7 of the most common home buying mistakes people make so that you can avoid them when you're in the market for a home.

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1. Overborrowing and/or Overspending Money

When you look for a mortgage or are looking for a certain

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Military members face insurmountable challenges in their career, but buying a home doesn’t have to be one of them if you’re an active service member or veteran. In fact, the Department of Veterans Affairs (VA) has created the VA loan benefit to assist military service members and their families with buying homes throughout the country and Colorado Springs military families can take advantage of the VA loan benefit to help finance the purchase of their next home.

So many people miss out on this valuable benefit and savings because they are uninformed about the VA home loan. It’s one of the best military benefits available! Below is information about VA loans and some interesting things you may not have known about this military entitlement.

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The strong sellers' market continues in Colorado Springs but home buyers are starting to see more relief compared to the first quarter of 2018. Mortgage rates are a key factor to the slight cool off, having gained 60 basis points (.6%) since the start of 2018 but they have also remained relatively flat for the past 5 weeks.

Colorado Springs Real Estate Market Update

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Overall listings in Q2 were still nearly 6% lower than the total count from a year ago, but compared to the 14% deficit we saw in the first quarter of 2018, the "white hot" market could now be described as a "red hot" market.

Appreciation continues to be good to home sellers. The median sales price for residential property in El Paso County is now $303,000, up nearly $20,000 since Q1

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Zillow Research is predicting that the next recession to hit the United States will happen in the first quarter of 2020. But unlike the notorious Zestimate (the computer algorithm known for its “pin the tail on the donkey” valuations), the popular real estate website that makes its fortune by selling advertising back to the very same agents who provide the market information to Zillow in the first place has a pretty solid theory about an upcoming correction.

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The majority of the real estate industry experts who were surveyed by Zillow say that monetary policy will be the cause of the 2020 recession. Many of the 99 panelists who were interviewed agree that the likelihood of tighter access to credit for less than perfect borrowers will contribute to

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