News At-A-Glance
Brighton, Colorado
Real Estate News: Brighton's Real Estate Review for '06-'07
Article by Brian Margolis
The numbers are in and they aren’t as bad when you compare the entire years of 2006 vs. 2007 for the city of Brighton. Unfortunately, the outlying areas saw significant depreciation. There were still over a 1000 homes sold in our area! The real litmus test will be at the end of the first quarter, comparing this year ‘08 from last year ‘07. The reason being is that in December 2007, Adams County was flagged as “declining market” by appraisers and investors. What this means is that a Buyer will have to put down 5% more cash for their down payment. This will create more buyers favoring FHA loans that only require 3% down. Now the federal government has made mortgage insurance tax deductible which will help. Please call your mortgage professional or CPA for more answers to questions that you may have.
The chart below shows only single family homes. If you have any questions about it, please call the Margolis Team for all your real estate needs. It is a great time to BUY, for there is a lot of inventory and interest rates are now below 6%!
Brian Margolis lives and works in Adams County. He has a team of eight professionals to help you with your real estate dreams.
