Coming Soon in the Bear Creek Valley – 10311 W. Girton Dr #103

49_50_51_52_53_54_55Enhancer_1Wow! Superbly upgraded, main level Condo in the heart of Bear Creek. A fantastic floor plan with granite tile counters and backsplash, 42″ cherry cabinets, and stainless appliances. One car detached garage and a separate reserved parking spot directly in front of the unit. Gigantic master bedroom with huge walk-in closet and spacious bath. Additional (basically second master) bedroom on the opposite side of the unit with large walk-in closet. An exceptionally well maintained home in a desirable community. Storage unit on the covered patio. Don’t forget to take a look at the private pool area. Area is surrounded by a wetlands preserve with ponds, a creek, and walking trails. An easy walk or ride to the Bear Creek Trail, Homestead Golf Course and award winning Bear Creek Schools!

Call me with any questions or to schedule your own private showing.

Brian K. Grace

(303)916-7737

Interest Rate Chart

Below is an interest rate chart from Julie Whalen with Guild Mortgage.  Rates are currently as low as they’ve ever been and if you’re “on the fence” about buying you should consider taking advantage of these historically low rates.

Interest Rate Chart

Interest rates to rise as QE2 ends, economist warns in Denver

Here is a great article from a recent issue of The Denver Post.  It suggests that interest rates could begin to rise as the Federal Reserve wraps up it’s Quantitative Easing (QE2) program.  This indicates that now is a great time to consider selling or a buying a home.

Prepare for higher interest rates as the Federal Reserve ends its program of purchasing U.S. Treasurys next month, warns Wells Fargo Securities chief economist John Silvia.

Higher interest rates will put added pressure on a struggling housing market but in themselves shouldn’t derail the recovery, said Silvia, speaking at a 2011 Economic Outlook for bank clients Wednesday morning in Denver.

“If the Fed stops buying, it will be a tough situation,” Silvia said of the coming end to the central bank’s second round of quantitative easing, also known as QE2.

Silvia predicted that Treasury rates could rise by one- half to a full percentage point but in a moderate way and not resembling the big moves seen in the 1970s.

“This isn’t Jimmy Carter, but you can see where the numbers are going,” he said.

Higher rates on government debt will spill into the mortgage markets.

The average rate on a 30-year mortgage last week was 4.76 percent, according to the Mortgage Banker’s Association.

Despite that low level, mortgage applications remain anemic and home prices continue to fall in most areas.

“If you can’t sell a house now, what will you do if mortgages rates go up 100 basis points (1 percentage point)?” he asked.

Higher rates are needed to make up for the Federal Reserve’s reduced involvement. Compounding the lack of demand, China and Japan, the two largest foreign holders of U.S. debt, are seeking more diversification in their holdings.

Bill Gross, who oversees the nation’s largest fixed-income mutual fund at PIMCO, has sold off his holdings of U.S. Treasurys and is urging investors to do the same.

When the Fed stepped back last year, growth slowed and stock markets fell, resulting in further quantitative easing.

Wells Fargo Securities is predicting growth in U.S. gross domestic product of 2.4 percent this year and 2.8 percent next year, driven by strong business investment, rising U.S. exports and modest consumer spending.

Silvia predicts that gasoline prices could rise another 10 to 20 cents a gallon through Memorial Day and early June, taking an additional bite out of discretionary spending.

Higher fuel costs also could reduce the number of people jumping in their cars to visit Colorado this summer.

“The number of visits may be less than expected,” he said.

Read more: Interest rates to rise as QE2 ends, economist warns in Denver – The Denver Post http://www.denverpost.com/business/ci_17995220#ixzz1Nxlq6EPj
Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse

Denver Metro Real Estate Statistics March 2011

The latest Denver Metropolitan Real Estate statistics for the month of March, 2011 are in!  Overall, it looks like inventory is up about 3% over the month of February and sales prices have risen by about the same percentage to $249,644 (combined Residential and Condos).  The average sold price for Residential is at $273,877 and $159,853 for Condominiums.  Unfortunately, it looks like the amount of properties place under contract in the month of March decreased by about 3.30% compared to February 2011 and decreased by almost 40% from March 2010.  However, it’s very important to note that the First Time Homebuyer Tax Credit in 2010 was set to expire April 30, 2010 and as a result there was a great deal of “increased” activity taking place this time last year as buyers were scrambling to get under contract by the end of April.  Overall, I feel like these numbers are encouraging, if ever slightly, and it feels like there has been an increase in activity as of late.  We’ll have to wait and see how much of this increase in activity is simply seasonal and how much of it is driven by an increase in confidence while unemployment is slowly improving and mortgage rates are still very attractive.   Just this week 4 new properties have hit the market in my neighborhood as sellers are sprucing up their properties in hopes of taking advantage of the spring/summer buying season.  I feel like it’s a great time to be buying or selling a home in the Metro area and would love to assist you with your transaction.  Call me anytime at (303)916-7737 or email me at bgrace@mbpros.net