JUNE NEWSLETTERRE IS A GREAT INVESTMENT | MEDIAN HOME VALUE | RECIPE OF THE MONTHREAL ESTATE STILL THE BEST LONG-TERM INVESTMENT
Purchasing real estate has typically been a solid long-term strategy for building wealth in America. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
“. . . homeownership is a catalyst for building wealth for people from all walks of life. A monthly mortgage payment is often considered a forced savings account that helps homeowners build a net worth about 40 times higher than that of a renter.”
That’s because owning a home grows your net worth over time as your home appreciates in value and as you pay down your mortgage.
Homeownership is also a shield against inflation: with a fixed-rate mortgage, a homeowner is guaranteed the same principal and interest payment every month while a renter may be subject to rent increases every year.
In terms of the market, people are buying regardless of the higher interest rates. May sales were up 7% compared to April. While some Buyers may be on the sidelines waiting for rates to drop, those taking advantage of what is typically a summer "lull" may be able to get a deal on their home purchase (lower purchase price, seller concessions) and simply refinance down the road.
Bottom line: the best time to buy real estate was 20 years ago. The next best time is now.
Message me for more insight on how to get top dollar for your home (Seller) or where and how to get a great deal (Buyer).
DENVER 'HOODS WHERE THE MEDIAN HOME VALUES HAVE RISEN THE MOST
People ask me all the time: "Where is the best place to buy?" My answer is always: "In the location that will make you the happiest."I mostly get this question from people who are wanting to ensure their home purchase will result in high appreciation. Good news: you live in Colorado, so it doesn't matter where you buy. Your home will probably appreciate every year!For those of you with an eye toward "up and coming" or "newly trendy" neighborhoods, the data from 2022 has some new comers to the list that I love: Chafee Park (proximity to Denver is epic, I think the next Highlands or Sunnyside), South Park Hill (all kinds of new and hip shops and restaurants going in), and Elyria Swansea, which used to be two townships but is now one 'hood near RiNo where proximity likely means nothing but gentrification in the coming years. RECIPE OF THE MONTH: CRAZY CHOCOLATE CAKE
My family loves this cake. The recipe is from my mother-in-law and I believe it is a war-era recipe when staples (e.g. eggs) were almost impossible to come by. The lack of egg in this recipe makes it 100% plant-based. The oil makes for a rich, moist cake. It's not fancy, but you can dress it up with powdered sugar, frosting, or toppings of your choice. An easy fan favorite!INGREDIENTS:
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FiveFour Real Estate is the one-stop shop for those who are ready to take their home or investment to the next level. Our name FiveFour derives from 5.4%: the average annual home appreciation rate in the US over the last 50 years. We know that your real estate investment is one of the largest and most important purchases of your life. With that in mind, our focus and strategy revolves around you.
This could be one of the largest and most important financial decisions you will make in your lifetime, and you deserve an experienced partner that understands the intricacies of Colorado real estate.
We promise to always keep you informed about the rapidly changing market and educate you throughout the entire process. We promise to protect your best interests and treat your home or investment like it’s one of our own. We promise to work our hardest to find the perfect home for you and your family with as little stress as possible.
We value your trust and hope to continue supporting you in your lifetime even after your sale or purchase is complete. This goes beyond real estate to us, it’s the beginning of a lifelong friendship.
