Lance

It may not be the dawning of Aquarius, but the star’s are definitely aligned in the homebuyer’s favor.  The current buyer’s market contains the three key ingredients that make “Now” the perfect time to buy, including interest rates, excellent inventory, and the “gap” for those seeking to move up to a larger, newer residence. 

 “By not becoming an active buyer now, people are taking a huge risk and gambling that interest rates will not go up anytime soon,” said John Fitzpatrick, one of Colorado’s leading Realtors with Kentwood Real Estate.  “We also have a very strong supply of inventory homes to choose from.  It’s also the best time in my memory to be a move-up buyer as the ‘gap’ has never been lower.  So it’s all about rates, selection and gap, which collectively create the perfect homebuying scenario.”

 The metro Denver real estate market was recently recognized as the “Most Improved” U.S. housing market by BusinessWeek magazine.  In addition, Denver area home resales were up 20 percent in May from the same period last year, according to Metrolist Inc.  These signs of recovery should also prompt prospective homebuyers to act now before inventory selection dwindles with a rebounding economy. 

 Denver area luxury home sales priced at $1 million or more jumped a whopping 61.8 percent in May from a year earlier, which is a clear indication that move-up buyers are jumping on the buyer’s market.  Denver home prices also jumped 4.4 percent in April over the same month in 2009, which was the sixth month in a row for price increases.  This is another reason to buy now while prices are still attractive.

 Other positive economic signs include Denver being ranked 10th among the 50 largest U.S. cities in the latest ranking of the best markets for job seekers, according to career search engine Juju.com.  In addition, 19 percent of Denver area employers plan to hire in the third quarter. 

 Colorado has three of the nation’s top 10 mid-size markets for business, and Boulder ranks No. 1, according to Portfolio.com.  According to the July/August issue of Where to Retire magazine, Greeley ranks among the nation’s top 10 great places to live with its close proximity to Denver. 

 The bottom line?  The economy in general and the overall housing market is improving, so the risk of not buying now increases with each passing day.  For all your Denver real estate needs, visit Kentwood Real Estate at www.DenverRealEstate.com.