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Navigating Rising Interest Rates in Colorado Springs Real Estate
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How Do Rising Interest Rates Affect Home Affordability?
Rising interest rates have dramatically transformed the Colorado Springs real estate landscape, but contrary to what many believe, this shift brings unexpected advantages for savvy homebuyers. After enduring a frenzied seller's market with multiple offers and prices soaring well above appraisals, we've now entered a more balanced environment where buyers can breathe, think, and negotiate.
As we explore in this episode, today's buyers face a fascinating trade-off: higher monthly payments but significantly less competition. The old real estate wisdom "marry the house, date the rate" has never been more relevant – especially for military families using VA loans who can access streamlined refinancing options when rates eventually decrease. We break down how new construction incentives like 2-1 buydowns work, potentially lowering your rate by 2% the first year and 1% the second year before settling at the market rate. This structure aligns perfectly with expected BAH increases or career advancements many military families experience.
Colorado Springs holds a special place in military assignments, ranking second only to Hawaii in desirability. This creates unique investment opportunities as many service members choose to keep their properties when transferred, establishing rental income streams with plans to return upon retirement. We examine the complete financial picture beyond just the interest rate – including how property taxes differ between new and established neighborhoods, additional costs in new construction that model homes don't reveal, and the importance of maintaining financial flexibility after purchasing. Remember, most homeowners stay in their properties just 5-7 years, not the full 30-year mortgage term, making the right property at a manageable payment far more important than waiting for "perfect" interest rates.
Ready to explore your options? Contact Lori, your lifetime realtor who's been guiding Colorado Springs homebuyers through interest rate cycles for over 40 years.
To learn more about RE/MAX Properties Inc. visit:
https://www.LoriThompson.REMAX.com
RE/MAX Properties Inc.
Colorado Springs
719-332-1807
Chapters
1. Podcast Introduction & Host Welcome (00:00:00)
2. Rising Rates: Market Balance Shift (00:01:21)
3. Buy-Down Options with New Construction (00:03:20)
4. Balancing Interest Rates vs. Taxes (00:05:23)
5. Long-Term Investment Considerations (00:07:12)
6. Final Thoughts & Episode Close (00:09:47)
2 episodes
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