Connect

For more Denver Real Estate

Find us on...

Dashboard

Login using...

New Search X

Real Estate, Real Life in 3 minutes or less: Mortgage Credit Certificates and Real Estate Supply and Demand in Colorado

Posted by The Team at iHOMES COLORADO on Monday, February 27th, 2017 at 11:03am.

Is it possible to increase what you are approved to buy a home for? In today’s video, we are sharing some options that could make this possible. We will put you in contact with a local CHFA preferred lender who will let you know what options are available to you. 

Music: "Something Elated" by Broke for Free. Click HERE to listen to it


Today's speakers:
Justen and Gavin

Gavin Monjaras is a Broker Associate at iHOMES COLORADO specializing in helping homeowners sell their homes. He loves helping buyers too. He can be reached at: 720-456-1400 or gmonjaras@ihomescolorado.com

Video Caption Information:

Justen: iHOMES COLORADO, Real Estate, Real Life, 3 Minutes or Less

I have Gavin Monjaras with me today

Very excited for our topic

Supply and demand

And so, instead of going real estate first, we’ll go real life. I’m sure a lot of you guys are just like us. Anytime that you’ve been told that you can’t have something or there is a limited supply

Boy, does it make you want it bad

And so Gavin,

Can you think of a time where you wanted something really bad?

Gavin: No

Justen: Mmm

Well, Gavin is a little different than many of us

I’ll talk a little bit more about that later

However, when it comes to real estate

One of the things going on in Colorado when you look at supply and demand is our market

One of the things that you’ll find is that a typical balanced market has about 6 months of inventory

Now months of inventory is

How long would it take for all the homes that are available to sell if no new homes became available in the future?

And so, one of the things that you’ll find is a sellers’ market is typically 4 months of inventory

Right now in Colorado, we are currently at less than 1 month of inventory

I’m sure for some of you watching this for the real estate reasons

You are aware of that

There is some frustrations behind it and there is a lot of demand from many people wanting housing

Now one of the exciting things that is a little bit different for some like Gavin, is that when you look at supply and demand, well, a supply of people who look like Gavin is very minimal

The demand for people like me to look like him is very high

Unfortunately, that is going to be very hard for some of the people like me to succeed in that of what I would like to do which is to look a little bit more like Gavin

Which is probably why he’s really never wanted anything so badly

However, if you’re like me

You want a home really bad

Or there is something in life where it was limited or you were told, “no”

And it made you desire it more

I’m sure many of you are like that when it comes to housing right now

And so, Gavin

Even though inventory is very low

Is there maybe more supply available for people out there looking for homes?

Gavin: Yes, there is Justen

In fact, starting March 6th, CHFA has several new programs that will increase the supply of homes to the market

Justen: That’s right so for all of us in demand

Starting March 6th there are several new programs that will be offered through CHFA preferred lenders

And one of those programs is a mortgage credit that can increase what you are available to be approved for

So for example,

Some of us if we were in the market last year or the beginning of this year and you were qualified for $250,000, $220,000, etc. there is potential to where you’ll be increased for tens of thousands of more dollars

Which will then open up more available homes within the demanded areas that you are looking for

As well as when you look at other loan programs around down payment assistance, credits, etc. to help with your closing costs

And so again as we start looking at the demand for housing

The exciting part is that starting March 6th

And again this WILL BE LIMITED

There are limited funds available

They are expecting that maybe by June those funds will be no longer available

And so, if you’re like me

And the supply of some the things you’ve wanted in life are less,

Unlike the good looks that Gavin has, there’s a lot of opportunity for those of you in demand and what you want to do is click on the link below

Learn more about the new programs becoming available in March

and we look forward to helping you

iHOMES COLORADO, Gavin Monjaras,

Gavin and Justen: In it for you

Leave a Comment