I feel like we have been talking about this for 3 years and each summer someone says we have and then we hit yet another bottom.  Investors will love this, the average person sits and stares at the television scared and they miss the opportunity.  Then again bottom is relative to your neighborhood, price range and personal goals, quit lumping yourself into the rest of the country.

Sellers, don’t sell unless you need or want to. If you want and need to sell, do it right and don’t fool around.  You don’t have much competition and this is key, take advantage of the market we have. There is no need test the market, unless you have the time and money to waste.  This frustrates you and potential buyers not to mention your agent.  It’s just bad for everyone.

We don’t have enough inventory in Denver to say we have hit bottom, in my opinion.  When the inventory spikes, prices will drop again. If there is a requirement to put 20% down on every purchase, prices will drop again.

Are you waiting to buy until we hit bottom? Don’t. Buy when you are comfortable buying.  The long term investment is what we lost track of over the past 7 years.  Just think, no matter if your house dropped in value, but you have paid down the principle for the past 7 years….you are that much closer to paying it off.  What we forgot, was part of the reason to pay off your home was to invest in YOUR future retirement.  When we retire and have a limited income, we need to have fewer bills/payments.  We can’t pay off our utility bills, those will continue, but we can have a roof over our head without payments.

Now is the time to get started in investing in your future, in your retirement. Let me be clear, I don’t mean you have to live in that house when you retire but if you have a house that is completely paid off, you then have a choice of where you want to live in your retirement. You see?  But if you don’t get started on paying off a house, you will never be without a monthly payment for your living arrangements.

Here is my thought on interest rates:  They are relative to YOU and your credit only.

If a house drops $10,000 and the interest rate goes up 1% you don’t save anything.  It’s a wash, unless you plan on paying down the principal sooner than 30 years.  AND you wasted time in receiving your Mortgage Interest Deduction, not to mention the time to start paying down the house. One year turns into 5 so quickly, you won’t even realize it.

Quit listening to the rest of the countries woes and think about what you want and need.  Houses are selling yours will to.

If you are thinking of selling, send me an email or give me a call.  I’ll be glad to take a look at your property and situation and see if now is the time, or if you should wait.