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Colorado Real Estate

Buying Colorado Real Estate is probably a reasonable idea in 2021. The interest rates still remain low, there is still inventory, and the upside of property values have not peaked yet, Demand is still increasing.

Colorado has many cities ranked as the top cities for growth across the country, with Denver ranking 5th of the 66 large cities chosen along with Aurora in 8th and Colorado Springs in 25th place. (source)

Oddly enough, rising sea levels might also affect future Colorado home prices. A 2018 study by the Union of Concerned Scientists found that by 2045 – or near the end of a 30-year mortgage issued now – sea levels are projected to rise enough that nearly 311,000 of today's residential properties in the U.S. will be at risk of chronic flooding. (source) Chronic flooding means flooding that reoccurs more than 26 times per year.

Another reason to buy Colorado Real Estate is because jobs have been abundant and there is lots to do here! People moving to Colorado have enjoyed an increase is technology and medical professions. Though the economy is flourishing and consists of Agriculture, mining and lots of tourism, there has been a uptick in many other job sectors as well. Aside from the fact you most likely can find quite a few job options in Colorado, there are also many sites to see, mountains to climb, rivers to raft, and roads to bike. Living in Colorado equates to a higher quality of life than most other states.

Now that we have thought through some of the advantages for living in Colorado, how does this relate to Real Estate. Well, high quality jobs and consistent population growth leads to increasing housing values. Even if you pay a premium for a home right now, the likelihood of the housing market values increasing in popular parts of Colorado is quite high.

Colorado Springs and Ft. Collins have been identified as being the some of the fastest growing areas, both expected to double in population by 2030. This means that even if the housing market crashes, or inflation skyrockets and interest rates rise or if prices continue upward, there will always be a demand for housing in those areas. With high demand, there is increased value. People are willing to pay a higher price to live in the place they want.

If you would like to learn more about getting pre-approved for a home loan in Colorado, contact us today for a no-obligation quote HERE or call 1-303-578-9202.

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