Mortgage Rates Still Very Good!
Despite the current state of the stock market and slowing economy due to nationwide health concerns, now remains an excellent time to either buy or sell a home.
According to bankrate.com, one year ago, the average 30-year fixed mortgage rate on a home was 4.5%, compared to a 3.7% average mortgage rate just a couple of weeks ago, meaning March of 2020 has been a much better time than March of 2019 for buying or selling a home. In terms of a hard number, this essentially equates to $464.25 in payment each month for every $100,000 you borrow on a national scale. Though some of these numbers may vary slightly depending on your specific home and where you are located in Northern Colorado, if you are in the market to either buy or sell a home, the market remains extremely friendly.
Bankrate.com offers a free monthly mortgage rate calculator whose monthly payment estimates are broken down by principal and interest, property taxes, and homeowners insurance. To get as accurate of a calculated monthly mortgage rate as possible, their calculator factors in your credit rating, zip code, and HOA fees. You can also experiment with their mortgage rate calculator, inputting different home prices, down payments, loan terms, and interest rates to see how your monthly payment would change.
To experiment with their user-friendly mortgage rate calculator, visit:
123 A Street, Ault, CO 80610
This 3,000 square foot hidden gem of a house is located in Ault, Colorado, about a 20 to 30-minute drive from the epicenter of the nearby booming city of Fort Collins.
While this may be a slight drawback to some potential homebuyers who are looking to break into the Northern Colorado real estate market, what should stand out is the incredible price point that this particular property will be hitting the market at. According to the Fort Collins Board of Realtors, a property with this type of square footage (8,000 square foot lot; 3,000 square foot house floorplan) in the city of Fort Collins would cost a small fortune, while purchasing it in the smaller town of Ault a short distance outside of Fort Collins brings the asking price well below what is considered average for the Northern Colorado real estate market.
This property is serviced by the Weld RE9 School District, which has received very good marks and is noted as one of the school districts that has experienced the most growth in Colorado over the past 5 years. However, if the homebuyer doesn’t mind the small commute, their children can opt to attend the region’s notable Poudre School District instead.
1921 Mackinac St., Fort Collins, CO 80524
This amazing Dry Creek home is conveniently located in the heart of Fort Collins and was sold at what would be considered a low to average price point compared to other homes in the Fort Collins area. According to the Fort Collins Board of Realtors, the average sale price for a comparable home (3 Bedroom, 3 Bathroom) in Fort Collins for the month of January was hovering right around $465,000. This particular 1,700 square foot house went under contract slightly below that number, saving the buyer some money. In addition to its highly desired location in the city of Fort Collins, this home is serviced by the award-winning Poudre School District and is located not far from the historic Old Town of the city, an attraction that many patrons travel long distances to experience. This property is also surrounded by numerous well-maintained and beautiful parks and nature trails.
630 S. Mountain Ave., Eaton, CO 80615
This stunning Aspen Meadows Ranch home is located in the small town of Eaton, which rests ten to fifteen minutes outside of the booming city of Fort Collins. This affords the buyer the peace and quiet away from bustling city life while not compromising their ease in accessing the amenities of a nearby big city. This large, 2,700 square foot house was sold at what would be considered a low price point when comparing it to other properties sold in the Northern Colorado region, meaning the buyer received an excellent deal. In addition to the house itself, the buyer received professional landscaping and irrigation detail as well as access to both the Eaton School District RE-2 and the more prestigious Poudre School District in Fort Collins. According to the Fort Collins Board of Realtors, the average property in this area is listed for close to 80 days before being purchased. Because of the excellent deal that the buyer was able to receive, this particular property was on the market for a shorter time than that.
I'm Brad, owner of Colorado Real Estate Pros. This blog will talk more about my day-to-day as a Fort Collins Realtor, and my life as well. Enjoy!