Homes for Sale, Golden CO
If you are looking for Homes for Sale in Golden, CO, you will want to work with a Golden Realtor who lives in the city. Our Real Estate Office is in the heart of Golden, Colorado. Golden is the place we call home. We understand the Golden Home Buyer's Market as well as Golden Area Listings and homes for sale.
Buying a Home in Golden, Colorado
Many of the factors that go into buying a home in Golden, Denver, and Lakewood areas are in place:
According to Sandy Hopper, a Golden Colorado Real Estate Agent:
"RATES: there's not too much argument out there that rates may never be lower, currently about 4.0% for a 30 yr., fixed, conventional loan and 3.5% for a 15 year term! (And I thought 7.5% wasn't too bad when I bought my first home! Consider the difference on my first house payment of $637.68 (Principal and Interest), and what it would be today at the same purchase price: just $435.40!)
PRICES: There is hot debate nationally right now about whether or not we'll see the bottom of the residential housing market in 2012. Analysts at Goldman Sachs predicted that the S&P/Case-Shiller home price index has 2.5% to fall before it hits bottom this coming Summerbut each market is obviously independent of one another. What we do know about Denver is that since the peak in 2007, average home prices (detached single family) have fallen over 10% from $311,939 to a current average price of $280,230. (Year end data through November) Keep in mind that our low occurred at the end of 2009 with an average sold price of $263,522 and a percentage drop of 15.52% from the 2007 highso we've been trending in the right direction this past couple of years.) This is largely due to:
SUPPLY: Here is the factor that seems to be buoying our market and may give Buyers pause. We reached a top point in housing supply in 2006; at the end of November of that year there were 27,530 units (homes AND condos) on the market. That has plummeted to a current total of 12,634-and this is helping prop up our local prices. (lower supply puts upward pressure on prices.) Even given this factor, since we have seen prices jump back up over 6.0% since the 2009 low, it would appear that Denver's market MAY have seen the worst of things.
So, what does this mean and IS it the perfect buying storm? Take this answer with a grain of salt as I'm the eternal real estate optimist, but suffice it to say if I had more money I'd be purchasing additional rental properties. The facts are clear: prices have come down substantially and are likely headed back up for the duration of the next real estate cycle. Rates are fantastic, and may never be lower. Buying a home makes amazing financial sense over the mid to long term, and buying a residential investment property is a smart way to diversify your balance sheet and control a leveraged asset. What I like to call the Affordability Factor is really what's at play here and now: with rates and values as low as they are it makes it more affordable than ever to purchase a home or investment. In fact, it's cheaper than renting: the average rental rates in Denver for a 2 bedroom home are $1,100, and $1,470 for a 3 bedroom. According to MLS sold data, the median sold price in Jefferson county in the past month for a 2-3 bedroom home is $204,650 (foothills excluded). With a 5% down payment your monthly payment would be approximately $1,098, with everything except maintenance and utilities included. ($928.17 Principal and Interest, $110.00 Taxes and $60.00 Hazard Insurance)
Call to find out more about the home buying process! We can help you take advantage of this economic cyclone that is leading to so much opportunity for today's Homebuyer!"