A wise man once told me that if you can find a way to purchase real estate early in your adult life and maintain that asset, it will be the best way to build and sustain long term wealth. I along with many other first-time home buyers have taken this advice seriously. Colorado has become a very popular destination for people to relocate to, especially in the past 5-10 years. Simple economics will tell us that with increased demand, we have decreased supply, and therefore prices will rise. This trend has been going on locally for several years, and there is no sign of that slowing down in the near future.
Voted Americas “Best Town to Live” is Glenwood Springs CO. Outdoor recreation is unlimited here in the Roaring Fork Valley. Some activities include skiing, hiking, biking, rafting, shopping, soaking and more.
A very hot topic in our local community today, is Glenwood Springs Affordable Housing. Whether you are a long time local who rents, a person or family new to the area, or an Aspen ski bum trying to make it through Winter, it seems all are very interested in this topic. In the recent years we have experienced a surge in population and economic conditions making all of Colorado and especially the Roaring Fork Valley even more desirable to live in than previously.
One of the big takeaways from the survey recently produced is that over the next five years, home prices will appreciate 3.5% per year on average and cumulatively will grow by around 18%. So we set out to answer the question of how do rising prices impact home equity?
Many people think the idea of buying or selling real estate during Winter is a crazy idea. This is especially true if you live in a Colorado mountain town like myself. I have had this conversation several times recently with clients and so I thought it would be helpful to share some insight to what the actual experience looks like to buy or sell during the Winter months.
There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either yours or your landlord’s.
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