It’s pretty obvious that government intervention and market depreciation presents an increasingly great opportunity for 1st time homebuyers. It also presents great opportunities to buy up for current homeowners. Some of the reasons are:
Last week the 30-year mortgage rate dropped below 5 percent and rates are at the lowest levels since at least 1965, according to Freddie Mac.
Couple that with the recently enacted $8,000 tax credit and improved affordability and you have one of the best opportunities to help an ever-growing population of incentivized buyers purchase their first home.
Others:
Increase loan amounts on conventional loans and FHA
Decreased values for bargain shopping
A slight loosening of credit/loan requirements
New almost 0% down loans
Decent amount of homes to choose from (months on market will vary in the county based on price range and locations)
So what’s keeping you from making the move? Job security perhaps and probably more so than contemplating weather the bottom has been "reached" fact is by the time you figure out where the bottom is its already on its way back up. Boulder is showing 5.5% unemployment so we aren't as bad off and "desperate to sell" but inventory numbers are swelling in conjunction with seasonal trends so now is a great time to take a closer look.
Let me know if I can help. Call for a free consultation. 720.890.9273 duane