Budgeting for a new home may require you to access a down payment assistance program. There are several options that require repayment while others offer grants that you do not have to pay back.
Aurora Colorados Market Springs Forward
I wanted to take a look at the details to give some insight on what to expect if selling or buying a home in Aurora, CO. Aurora homes range from $100,000 to the millions. A wide range, no doubt, but the average selling price in 2013 was $243,000. This was a 13% increase over 2012 prices and so far in 2014, values are continuing to increase. Technically values have been increasing since 2010, but it really didn’t gain significant traction until 2012. Homes in Aurora are selling at a fast pace and there aren’t very many coming on the market to help inventory.
Let’s look at the numbers. In the Aurora real estate market, there were 6771 homes sold over the last year, there are currently 1019 homes under contract and ONLY 530 HOMES FOR SALE!!! Last year we sold 564 homes per month, which means that we don’t even have a single month supply of homes! 6 months of inventory is considered a balanced market.
Mortgage Interest RatesWith current mortgage interest rates still at record lows, more buyers than homes, it’s easy to see how the old “supply and demand” formula is in full force. The other little known piece to this puzzle is that within the homes for sale, there are far fewer move in ready homes. Most buyers don’t want to do extensive work on homes, whether it’s because they don’t have the knowledge, time or funds. This means that the competition is even more stiff over the “good” homes.
Parks in Aurora, Colorado offer plenty of open space for would-be real estate buyers.
I always remind my buyers, that you can only do what you can do and to not get caught up in a bidding war just because. The property, payments, etc. have to still make sense for you. The last thing anyone wants is to be in a bad situation or hate the purchase when the dust settles. Patience and quite possibly many offers are reality right now. Keep a positive attitude!
Denver Colorado Realtor -Michael Steffen
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; Denver, Arvada Aurora Bennett Byers Castle Pines Castle Rock Centennial Cherry Hills Village Columbine Valley Deer Trail Denver Elbert Englewood Franktown Greenwood Village Highlands Ranch Larkspur Littleton Lone Tree Parker Sedalia Sheridan Strasburg Watkins, Wheat Ridge, Lakewood, Castle Rock, Thornton, Westminster, Evergreen, Golden. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone!
My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....