The real estate market in Colorado Springs ended the year 2021 with a historic low number of homes for sale. Only 659 homes were listed for sale in El Paso County compared to the 1,536 homes for sale five years earlier in December 2016. The lack of homes has led to fierce bidding wars. At the end of 2021, the median price of homes sold in December increased by 18.4%. Experts are cautiously optimistic of the area’s housing supply increasing in 2022. Read on to know more about market trends in Colorado Springs. Be Prepared When Shopping for a Colorado Springs [...]
Thanks to Greg Fowler for having me on his show! It was a great time and we got to discuss some pretty substantive material. Let me know what you think in the comments below!
This post was originally published on mortgages.com You saved and planned and went through a lot of work to get your first mortgage. But as soon as you make your first payment, you're probably already wondering when you be done with it. Most of the time your mortgage type describes how long you'll be paying it. A 30-year mortgage will take 30 years to pay off, a 20-year mortgage will take 20 years, and a 15-year will take—you guessed it—15 years. But that's only true if you only pay the minimum amount due each month and you keep the same mortgage throughout [...]
This post was originally published on mortgages.com. For anyone living with a disability, your main concern when you're searching for a new home is finding somewhere that you can live comfortably. But as a veteran there's the added stress of wondering what your VA loan will cover and what it won't. The good news is that as long as you're approved for the loan, you can use it to build a home that's adapted to your needs or buy and improve a home that will fit your needs. When you're applying for the loan, keep in mind your disability rating will help decrease the total [...]
This post was originally published on mortgages.com. Many second homeowners find themselves wanting, or needing, to rent out their second home. If you haven’t been a landlord before, and this is part of your plan, you’ll want to make your home as inviting and as renter-proof as possible. This list should get you started! First things first: Make sure you’re complying with all local and federal laws when it comes to renting out your place. Your second home will be designated as an investment property for tax purposes. There may also be local laws about how your place is rented. For example, some municipalities [...]
This post was originally published on mortgages.com. Buying a home can be overwhelming. But if you break it down in to smaller bites and take it one step at a time, it becomes much more manageable. Here's how to get started: 1. Make a plan: Decide how long you plan on staying in your home. That will help you decide how large a home you should buy (think about needed room for any kiddos you might have a few years down the road), what neighborhood you might be interested in, and if you even want to buy a home at all. 2. Check [...]
This post was originally published on mortgages.com. The VA loan program has been helping veterans become homeowners since 1944. While there have only been a few major changes to the program, it does get updated fairly regularly to reflect housing prices across the country. Here are the changes you can expect for 2018. 2018 VA loan limits Home prices rose in 2017 thanks to low unemployment and low inventory of homes. The VA loan program is accommodating that rise in home prices by raising limits for single-family homes, which is going up to $453,100 from $424,100. This is the highest loan you can get without having [...]
This post was originally published on mortgages.com. Buying a home is a big life event. For many people, a mortgage payment is their biggest monthly expense. It is also important to keep in mind the other costs of a home. Use these four tips to ensure that your payments are made in accordance with the fine print. Find Out How Much You Can Afford There are many online calculators to help you find out how much home you can afford. These calculators are based on your income. They also factor your interest rate and the amount of your down payment. Some calculators also add your [...]