News At-A-Glance
Brighton, Colorado
Real Estate News: Spring Into Great Real Estate
Opportunities
Article by Brian Margolis
It is a red hot Buyers market right now. There are record numbers of foreclosures and interest rates are at almost a 30 year low and still hovering around 5.5%. The trick is getting a loan. Most of the 100% financing programs have disappeared. It is back to Old School. This means saving money and putting down 20% on the purchase of your home. The more favorable option is to get an FHA loan which requires only 3% down.. The maximum for Adams county is $308,370 for a single family home.
Because of the more stringent rules, there are fewer Buyers in the marketplace. This puts Buyers that do have financing in a very strong position. This does not mean that Sellers are going to give away their homes. What it does mean is that you maybe able to get a great deal on a bank owned home or even new construction. A re-sale home usually represents a home in good condition and shines with pride of ownership.
If you are looking to purchase a home under the $175,000 range be prepared to be in a Sellers’ market. Yes, a sellers’ market. The reason being is that there is little inventory and a lot of Buyers. If you are looking for an investment property, you want to find a professional Realtor on your side that uses the latest technology to be able to grab that “steal” out there before someone else does.
-Brian Margolis and his Team of Professional Realtors live in Brighton. The team represents many of your neighbors as well as banks and their REO properties.