Buying a Home in 2013? by Richard Jensen

(source: Richard Jensen)

There is something very consistent about New Year's resolutions – they seem to change every year.  We have new dreams, new goals, and a flurry of new gym memberships throughout Northern Colorado.  One of my New Year's resolutions is to buy my son a new toy for each closing I have in 2013.  You can bet he's been asking me every day, "Dad, did you sell a house today?"

And of course there are always changes to the Colorado real estate contracts approved by the Colorado Real Estate Commission.  So what should you know about buying a home in Northern Colorado in 2013?  Let me start by sharing some of the basics.

1.  The Colorado Contract to Buy and Sell Real Estate has changed as of January 1, 2013.  To learn more about these changes and buying a home in Northern Colorado contact Richard Jensen with Keller Williams Realty of Northern Colorado.


2. Historically low interest rates may continue into the new year, but 2012 housing inventory in Northern Colorado was down nearly 50% compared to 2011.  It is a seller's market in Northern Colorado for homes priced under $250,000.  Be prepared for competition.

3. Standard build time for new construction is 60-90 days, so if you are considering moving into a new home in the Spring of 2013 you should act now.  New construction in Northern Colorado will continue to  rise in 2013 as more home buyers and investors take advantage of the profitable real estate market.

4. Rental rates in Larimer County are among the highest in the entire State of Colorado.  Chances are if you can afford to pay rent you can likely afford to pay a mortgage.

5. According to the National Association of Realtors®, 92% of home buyers choose to work with a professional buyer's agent to help them buy a home!  If you have not already committed to working with a Realtor® now is the perfect time to contact Richard Jensen with Keller Williams Realty of Northern Colorado.

Now if you haven't already spoken with a lender to discuss financing options and programs available for first time home buyers, add that to your list of New Year's resolutions.  And if you haven't already met with me to discuss your real estate goals for 2013, give me a call as soon as possible so we can schedule a brief meeting. 

As a Realtor® I spend much of my time studying the real estate market and, more importantly, previewing homes so that I have a better understanding of the features and benefits available to home buyers.  If you are serious about home ownership in 2013, now is the time to buy!

Thanks for reading our Northern Colorado Real Estate and Lifestyle Blog!