Yesterday I saw that the Jumbo Loan‘s interest rate is 5% for a 30 year fixed! This is the best news I’ve heard in a year. The Denver real estate market’s upper end stalled last year as the rates and ability to get a jumbo loan ($417,000+) became increasingly harder. People decided to wait if they didn’t have to make a move.
The Tax Credits for “First Time Buyers” will be extended to spring of 2010 and now there is a tax credit for the “Repeat Buyer”. The repeat buyer is someone who has lived in their home for the past 5 out of 8 years. (First Time Buyer can qualify for up to $8,000 and Repeat Buyers can qualify for up to $6,500.)
Three great opportunities have opened up to position our city (and the country) for potentially the most movement during our winter months in 3 years!