Park County Real Estate Blog - buying

Let's Talk Closets: Why a Walk-in Closet Is a Must Have for Any New Home Buyer

Are you in the market for a new house or condo? Whether you're looking for something luxurious or intimate, you'll want to ensure that you have enough space for all of life's necessities. Many home buyers focus on bedrooms, bathrooms and living areas as their top priorities. But have you given any thought to your closet space?

 In today's blog post we'll explore why a spacious walk-in closet should be high on your list of "must-haves" for your new home.

 Enough Storage For A Stylish Couple

An upgrade in storage space is the main reason to have a large walk-in closet – and for good reason. Today's working professional needs a large wardrobe to store suits, work outfits, social attire, shoes, accessories and more. It's almost impossible to…

35 Views, 0 Comments

3 Charts That Show This Isn’t a Housing Bubble

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.

1. The housing market isn’t driven by risky mortgage loans.

Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a…

164 Views, 0 Comments

Fishing in Park County, Colorado

What’s the difference between a good fisherman and a bad one?

Well, the answer might not be that easy, but there is one thing that tops the list. Just like they say in REAL ESTATE, it all starts with location, location, location. Lucky for you, we have done the research, explored and tested the waters, and while we may not be revealing all the secret spots, we’ll show you where to start.

Lakes and Reservoirs – There are several lakes and reservoirs in Park County, Colorado that offer fishing year-round. Antero Reservoir, Elevenmile Canyon Reservoir, Spinney Mountain Reservoir, and Jefferson Lake,  all have great fishing.

Rivers & Streams – There are some great creeks, rivers and streams that run through Park County that offer excellent…

44 Views, 0 Comments

Why This Isn’t Your Typical Summer Housing Market

In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season.

Here’s how this summer is stacking up against the norm and what it means for you.

Inventory is increasing.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), inventory levels have been rising since February of this year. Looking at the graph below, there’s a clear upward trend, as shown in the green bars. Currently, there’s roughly a 2.5 months’ supply of homes for sale. And while…

182 Views, 0 Comments

Housing Supply Is Rising. What Does That Mean for You?

Housing Supply Is Rising. What Does That Mean for You?

An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:

“It looks like inventory may have hit a bottom (we’ve seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.”

To put it into perspective, the graph below shows levels of inventory rising since the beginning of the year:We’re still not close to a balanced market, which would be a 6 months’ supply of homes for sale. However, we are seeing…

109 Views, 0 Comments

Worried That Your Past Student Loan Debt Might Delay Buying a Home? Here's What to Do

 Whether you are just about to graduate college or you have been out for a few years, there's a good chance you're carrying some amount of student loan debt. It seems that news headlines are regularly pointing out that the nation's graduates are suffering from the stress of student debt. Moreover, that pressure can be even worse for those who are looking to buy a home and start putting some roots down in the local community.

 So – are you worried that past student loan debt will affect your chances of buying a home? Let's run through a few tips that can help put your debt worries at ease.

Start A Budget And Embrace Using It

 The first and most important step anyone with debt can take is to commit to a monthly budget. Managing your debts means…

45 Views, 0 Comments

A Look at Home Price Appreciation Through 2025

A Look at Home Price Appreciation Through 2025

Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels.

In more good news for homeowners, the most recent Home Price Expectations Survey – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists – forecasts home prices will continue appreciating over the next five years, adding to the record amount of equity homeowners have already gained over the…

226 Views, 0 Comments

Market at a Glance Report June 2021

The numbers are in for June!

These figures are from the Summit MLS system, the primary MLS for this part of Park County and shows only information on cabin/home sales in South Park. (Zip codes 80456,80432,80440,80420).

Jefferson Real Estate also utilizes the Front Range MLS system, RE Colorado.  This more than doubles the exposure for your listing.  If you're considering selling your cabin or home and taking advantage of this sellers market then give us a call!

92 Views, 0 Comments

Are You Ready for Home Ownership? Find Out by Answering These 4 Questions

Are You Ready for Home Ownership? Find Out by Answering These 4 Questions

Have you been dreaming about a larger, roomier or more luxurious living space? Or perhaps just want to experience the joy of owning your own home and building your net worth instead of renting? Let's explore a few questions that can help to answer whether or not you're ready for a new lifestyle as a homeowner.

Can You Realistically Afford To Buy A Home?

The first consideration to make is a financial one: can you afford it? Buying in a home is a significant financial investment. In most cases you'll need to manage monthly mortgage payments for many years. The good news: owning a home is a more affordable than you might think. If you're already a stable renter then you're…

53 Views, 0 Comments

What To Expect as Appraisal Gaps Grow

What To Expect as Appraisal Gaps Grow

In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates:

“The frequency of buyers being willing to pay more than the market data supports is increasing.”

While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm.

According to recent data from CoreLogic, 19% of homes…

181 Views, 0 Comments