It has taken me a few weeks to update my blog as I am at that point where I don't know what to write. As most of us have been doing, I keep reading the financial news and just don't know what to make of it. It is my hope that some very smart people are trying to figure out the best way out of this mess and I hope it happens soon.
In the Denver Metro area I think we are fortunate that we are turning a corner and are seeing property values stablize. Obviously there are areas that are still hurting and being impacted by foreclosures and there are other neighborhoods that are actually seeing an increase in home values. Overall I think that the metro area in general is seeing stablization which is good news.
Also, interest rates are still pretty low which continues to help those that are looking at buying a house. They not only have more inventory on the market but they also can get more for their money with low interest rates.
If you have an adjustable rate mortgage that is about to re-set or has and the payments are difficult to make I would encourage you to contact your mortgage professional to see about moving to a fixed rate loan. If you have owned your home for a few years and haven't taken out the equity chances are your mortgage professional can help you find a better rate.
While reading the financial news remember that every housing market is different and national reports may not match up to what is happening in your neighborhood.
Thank you, we'll be in touch!