Rising Home Values
It wasn’t too long ago that we faced the great recession in America. The banking and lending industry had reached the brink and the housing market came tumbling down. For many parts of the country, it was a long and arduous climb back out. Some parts of the country still feel the pain, others not so much.
There are parts of America that felt it less than others and appeared to have a rapid response back to sustainable growth once again. Colorado is one such place. Not necessarily all of Colorado, but the front range overall has bounced back to become one of the strongest. Part of the reason for this has to do with realistic home values during the downturn. It’s easier to rebound when values were not over inflated. Secondly, would have to be in the appeal of Colorado to a booming job and business growth cycle. Overall, Colorado is a very inviting place to set up new industry, businesses or retirement plans. New technology startups alone will add billions of dollars into the economy.
With this influx of jobs and industry, the demand for housing to accommodate has reached all time highs. It’s been important to keep new home prices in check, and there is a pretty good job of that happening. But the existing housing market too has seen a rise in value as location and proximity to the city now come into play. There are projections of up to 18% growth in the next few years as a result.
This adds a new element into home ownership. Rising values mean opportunity to existing homeowners. Refinancing a home today can yield back the homeowner/borrower many benefits. From home improvements to additions to equity relief. If you’re ready to sell your home, a constant watch on rising values is important to track. Fairway DTC has partnered with Homebot to deliver such real time value checks on property. Let opportunity know that you’re looking at options.