Lately, it seems that all northern Colorado real estate news, unless you are a renter, is pretty good. The Fort Collins/Loveland area is seeing substantial increases in rents as the vacancy rents go down and tenants are none too happy. A lot of pundits are blaming foreclosures, inability to purchase a home because of credit scores, increase in migration to the state, economic downturn, and interestingly, enough some apprehension as to the belief in homeownership as the holy grail. Real estate investors still believe and are actively looking for the best deals.
And there is always the fact that our inventory is down a bit and some buyers are waiting for more homes to come on the market especially if there is no rush.
Newest headlines are now saying that Fort Collins is the only city that has seen an increase in prices this past year in Colorado; 2.9% The rest of been either flat or have experienced a decrease.
The funniest headline this week was that 30 year mortgage rates rose to 3.95%. from a 60 year low of 3.87%. Funny, because I still remember my first mortgage rate was 17%. Of course, the house was only $35,000. But still….3.95%?