(Newswire.net — July 11, 2013) Denver, CO — Denver-area Realtor Viviana Granillo with ReCom Real Estate is citing factors in Colorado’s ongoing housing recovery. “According to the Department of Numbers, as of late June there were about eleven-thousand single family and condo homes listed for sale in Denver. That number reflects a 28-percent decrease from our city’s housing supply one short year ago. We’re also seeing steep increases in home values as the real estate market continues to strengthen. Denver’s current median home price of about 355-thousand dollars is up more than 18-percent from a year ago.
Meanwhile, Brett Baird with Citywide Home Loans in Denver says rising interest rates may be another factor impacting the housing market and possibly motivating some folks to buy and others to sell. “According to a recent published report, mortgage rates for 30-yea r loans surged to the highest level in almost two years, increasing borrowing costs at a time when the housing market is strengthening. The average rate for a 30-year fixed mortgage rose to 4.46 percent from 3.93 percent, the biggest one-week increase since 1987. The rate was the highest since July 2011 and above four-percent for the first time since 1987.”
Granillo says although interest rates have increased, the cost to borrow money is still historically low. “An interest rate increase like the one that just happened is not really scary because rates have been so low for so long. The cost of borrowing money for mortgages and other loans is still very low when compared to many different eras of the U.S. economy. However, we are encouraging anyone considering a home purchase to act sooner than later because interest rates could increase again.”
Brett Baird says his experience as a loan officer can help ease the home-buying process. “I’ve been in the mortgage industry for over ten years and have helped thousands of great clients achieve their dreams of homeownership. I run a successful mortgage team that includes two full time assistants and a dedicated processor. Everyone on my team is bilingual (Spanish & English) and we’re experts in helping clients in almost every situation. From first time buyers to seasoned investors we can help. My goal is to provide unparalleled service and the best financing options available to all of my clients. Professionalism is as important to me as making my clients feel well informed and at ease with the home buying process.
Viviana Granillo says her experience in the Real Estate industry will help buyers and sellers. “I’m here to provide the best possible guidance for my clients in a market that is changing very fast. Housing inventory and values are changing in some cases on a weekly basis. I would urge anyone in the market to use a Realtor whether buying or selling. “