This softball situation is driving me nuts. We didn’t have enough players last week, so we couldn’t play, but we thought it was going to get rained out, so no biggie. But, alas, it did not get rained out, which means we lost. Such a bummer. And today is the last game (for me) of the season since I’m leaving for my European vacation.
The weekend was nice in spite of the softball thing, though. Bridger went to a birthday party, and they played airsoft all day. I’ve never seen the kid so exhausted. He fell asleep during no less than four car rides later in the day and was barely able to speak for the rest of the day. Sterling had a sleepover, too.
I went to my friend’s house for her birthday, and some other friends joined. We had a great night of laughs, crab legs the size of my legs, amazing discussions, and, always my fave, cake. As a surprise, I got us all a medium, and everyone had a really cool experience. She was pretty spot on.
My events partner at work and I planned a hike for all of us at the office and then a cocktail hour at The Well afterward this week. It was a smashing success, and great to hang out with all of them outside the office.
And did you know people actually want to go to Florida in the summer? Our Airbnb is doing really well. It’s fully booked (minus four nights) until September, which is incredible. I like having it so we have a warm place to go whenever we want, so even if we just break even, I’m happy.
My Colorado Real Estate Activity
I got a pretty complicated listing. The house is owned by four siblings who are trying to figure out how to move forward. My suggestion was to first get it vacant (one of the siblings lives in it), so we can get it deep cleaned and staged. Just waiting for them to work out those logistics, but I imagine it’ll be a bit of a challenge. So I wish them luck.
Keller Williams offered a leadership training course I took yesterday. It was informative, for sure. KW has numerous classes that they provide us, and I do love that so much. I’ve taken a few of them, and they always get me pumped and confident. So, I’m ready and raring to go!
Current Denver Area Real Estate Market
Seasonal shift mirroring previous real estate cycles start to take effect as the selling season begins to downgrade into the second half of 2023.
Inventory Surge, Slowing Contract Activity, Enhanced Negotiating Power, Market Easing and Price Relaxation.
What is a 3/2/1 Buydown?
The 3/2/1 buydown is key to unlocking a more affordable mortgage experience while interest rates are elevated. It's a financing option that eases you into your mortgage payment with reduced interest rates in the early years of your loan.
How Does it Work?
Year One - 3% Reduction: In the first year of your mortgage, you'll enjoy an interest rate of 3% lower than the regular market rate. So, if the market rate is 6.5%, your rate for the first year would be only 3.5%. That's a sweet deal.
Year Two - 2% Reduction: As you settle into your new home, the interest rate gradually increases but remains 2% lower than the market rate. Based on our example, with a market rate of 6.5%, your second-year rate would be 4.5%.
Year Three - 1% Reduction: You're still not done with the savings! In the third year, your interest rate increases but remains 1% lower than the market rate. This means a third-year rate of 5.5.% based on our previous example.
Year Four -Thirty: From the fourth year onwards, your interest rate stabilizes at the full market rate, which in this case, would be 6.5%. You'll keep this rate for the rest of your mortgage term unless you refinance before this period.
Who Benefits from a 3/2/1 Buydown?
First-time Homebuyers: If you're jumping into homeownership, the 3/2/1 buydown is a great program to ease you into the higher payments of your mortgage.
Budget-Conscious Buyers: Are you worried about those initial mortgage payments? The buydown is here to save the day! Enjoy the lower rates early on; if rates come down earlier, you can refinance for a lower rate.
Sellers Wanting to Attract Buyers: If you're selling your home in a competitive market, offering a 3/2/1 buydown can make your property stand out and attract more potential buyers. Buyers love savings!
The 3/2/1 buydown can be a big win for home buyers. Use it to lower your payments, or keep your cash for home improvements and have the seller pay a buydown for a property that needs renovations.
Remember, our team is here to guide you through every step, so don't hesitate to reach out and discuss how the 3/2/1 buydown can work for you!
Upcoming Events
- Colorado Bowhunter Education Course- If you’re trying to perfect the art of bowhunting, this course will give you loads of insight.
- One Technology Fly Fishing Event with NetApp!- The weather is getting more mild, so now’s the time to get out there for some free fly fishing!
- Conifer Elevation Run/Walk- Support Conifer and get some steps in during this fun day of hiking, running, music, food, and vendors.
- Evergreen Jazz Festival- This 3-day event brings stellar jazz sounds for the whole family.
- Mr. Majestyk's 8 Track Revival- If 70’s music is more your speed, head to the Buffalo Rose for tasty treats and disco dancing.
