Colorado and Beyond – Why Buy A Home in 2013?
2013 is the year to begin considering getting back into real estate. The housing market has been making a recovery, and here’s why you should take a second look. Throughout the past five years we’ve seen some economic stress that has really played havoc on real estate values, but in turn, we can expect reduced risk going forward in 2013 with a much greater likelihood of appreciation. Moreover, many expect a rise in inflation for future years, so the real estate you buy in 2013 with fixed rate financing will become an excellent performer. Home prices across the board have been steadily rising. According to Trulia, asking prices for homes were up more than 5 percent year-over-year across the nation in December. The top turnaround housing markets last year were Las Vegas, Seattle, Phoenix, Oakland, Calif., and San Jose, Calif. Trulia tracked 100 major metropolitan areas and saw 82 year-over-year gains in 2012, compared to only 12 in 2011. The housing market going into 2013 is definitely entering with a head start. 2013 brings in a concrete foundation for a strong recovery. One of the biggest draws first time buyers and investors have right now is cheap home prices. Buying a home in almost every market is a real bargain with a current average 30+ percent below their peak. The ongoing battle between renting versus buying has now made a turnaround with several of our cities boasting more buying affordability over renting. With lower home prices, and what may be even better, is that the low cost to borrow money has extended into the new year. U.S. Rates on fixed mortgages have continued to move into record low territory, a trend that has boosted our nation’s housing recovery, making it easier to buy a home. This year you can expect to buy more home than you ever thought possible. The sale of U.S. homes are in a position to continue to rise in 2013, which will pave the way for a recovery that began to take position last year after several years of a housing slump. With the aforementioned record-low mortgage rates and low home prices combined with a shrinking inventory of distressed homes and declining unemployment, buyers can once again come out and explore what the market has to offer. Most of our U.S. cities have seen excellent trends in their housing markets, and Realtor.com has compiled a list of the Top Turnaround Towns, including Phoenix, AZ, Miami, FL, Orlando, FL, Boise, ID, Naples, FL, and Oakland, Calif. Boulder, Colorado real estate is in great condition and the Boulder Home Source team is versed in the market and will allow you to take advantage of this good time for real estate.
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