Is NOW the Right Time to Purchase a Home in the Denver Real Estate Market?

By teamcox • May 11th, 2009

Denver real estateThere is no better time than the present to purchase a home in the Denver real estate market. As I write this, interest rates are hovering around 4.75%, the lowest point in history. I do not anticipate a substantial rate increase through the remainder of 2009. 

If you have a home to sell, you will probably not be able get top dollar for it right now, but you can potentially make up the difference on the purchasing end. 

Are we at the bottom of the Denver real estate market? Everything that I have read and heard affirms that we are indeed at the bottom. Credit is readily available for conforming FHA loans up to $417,000 with a down payment of 3.5%.  Loans in excess of $417K will require a larger down payment and interest rates for qualified borrowers will be a percentage point higher.  If moving is not an option right now, be sure to take advantage of these incredibly low rates to refinance your current home.

For more information on purchasing a home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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