October 2022 Newsletter

Your home is forever. Your rate isn't. You can always change your rate to more favorable terms.

To the surprise of no one, the Fed raised rates by 0.75 percentage points this week, with further hikes expected through the rest of 2022 and into 2023.Mortgage rates have spiked off the back of the rate increases, with the average 30 year fixed mortgage now at 6.35% against just over 3% at the start of 2022. For prospective homebuyers, this may seem like disappointing news, since mortgage rates can directly impact purchase ability. However, here's some good news: Your home purchase is a tangible, solid investment. It appreciates every year while providing tax benefits in the form of mortgage interest deduction. Homeownership is the #1 mechanism for building wealth. Owning a home is like a marriage: it's both a commitment and a labor of love.Your mortgage interest rate, however, is temporary. You might buy your home with a less than desirable rate - but that's ok!  Rates, just like dates, vary. Some are good, some aren't so good.  You may have a few different rates over the course of your mortgage and that's normal. In fact, most people refinance their homes several times as mortgage rates improve or should they need to take cash out from their equity. There is no limit as to how many times you can refinance your mortgage and most homeowners are eligible to refinance after just 6 months of homeownership.In short: if you're considering homeownership, don't let today's rates spook you. Get into a home with the rates that exist today and prepare to refinance once more favorable terms become available. Ask me to refer you to my top 3 lenders who can help you decide if an ARM or 2-1 Buy Down is right for you.

MAKE COLORADO AFFORDABLE - NOVEMBER BALLOT ISSUE

Make Colorado Affordable (Prop 123) would put up to 0.1 percent of the state’s existing taxable income toward solving the housing crisis that affects all parts of the Centennial State. (AP Photo/David Zalubowski)

Coloradans will vote on an affordable housing measure for the first time ever this November, one that would divert nearly $300 million in annual funding toward a first-of-its-kind program.

Proposition 123 is unique in its breadth and scale, supporters and analysts said. It would support eviction defense, down-payment assistance, new housing development, the purchasing of land for future use and direct payments to renters. Its presence on an already crowded ballot comes as affordability anxiety among residents — and their elected leaders — continues to rise: A Colorado Health Foundation survey found that 86% of residents felt that housing is a very or extremely serious problem, second only to the cost of living, Seth Klamann reports.

Get the quick low down on Prop 123 and what a "Yes" or "No" vote means here.

HALLOWEEN HAPPENINGS 2022

Here's my list of favorite places to visit during the spookiest time of year!

1. Anderson Farms - Geared for bigger kids, people travel from all over the state for pumpkin picking, haunted corn mazes, and hay rides through the patches. A great spot for older kids and grown-ups.
2. Rocky Mountain Pumpkin Ranch - A fan favorite due to its low crowds, various kiddo-friendly rides/activities, and farmstand with apple butter, roasted chiles, and all the pumpkins you could ask for.
3. Niwot's Great Pumpkin Party - One of the best (especially for littles) this annual event features a pet costume contest, trick-or-treating, and a kids parade. Don't miss the brewery at the end of 2nd St in downtown Niwot.
4. Ya-Ya Farm and Orchard - You pick 'em apples, farmstand, animals, and incredible mountain views. Ya-Ya's is a great spot for an afternoon picnic.

RECIPE OF THE MONTH: SAUSAGE, WHITE BEAN, AND KALE SOUP

With cooler weather upon us, a good, hearty soup is always a great choice. The best part about this one? My entire family will eat it! It comes together quickly and is delicious. I highly recommend for a busy weeknight meal.  Serve with extra crusty bread for dipping.INGREDIENTS:

• 1 tbsp. extra-virgin olive oil, plus more for serving
• 1 lb. pork sausage, removed from casing if necessary
• 1 medium yellow onion, chopped
• 2 large carrots, peeled and thinly sliced into rounds
• 2 celery stalks, thinly sliced
• 4 cloves garlic, thinly sliced
• Kosher salt
• Freshly ground black pepper
• 4 c. low-sodium chicken broth
• 2 c. water
• 1 tbsp. Italian seasoning
• 1 bunch kale, ribs removed, leaves torn into 2" pieces
• 2 (15.5-oz.) cans white beans, rinsed and drained
• Freshly grated Parmesan cheese, for serving
• Crushed red pepper flakes, for serving

DIRECTIONS:

1. In a large Dutch oven or heavy pot, heat oil over medium-high. Add sausage and cook, using a wooden spoon to break it up, until browned, about 6 minutes. Using a slotted spoon, remove sausage to a plate.
2. Return pot to medium-high and add onion, carrots, celery, and garlic. Season with salt and pepper. Cook, stirring until the onions and garlic are softened, about 5 minutes.
3. Stir in chicken broth, water, Italian seasoning, and cooked sausage and bring to a boil. Reduce to a simmer and cook over medium until carrots and celery are tender, about 6 minutes. Add the kale and beans and cook until the kale is wilted, about 5 minutes.
4. Season with salt and pepper and serve with a drizzle of oil, Parmesan, and red pepper flakes.

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. We hold our licenses at the brokerage Five Four Real Estate.  If you buy a home and put 20% down, you are leveraging your money 5X. A 5.4% increase in your home's value means a 27% ROI.

Thinking of Buying or Selling?  Know someone who is?We are NEVER too busy for your referrals!

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OUR PROMISE TO OUR CLIENTS

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.

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