Memory Lane

Today we will take a fun trip down memory lane.

Did you know that it was the fall of 1981 when mortgage interest rates hit their all time peak? Yes, it was this time 36 years ago when 30-year mortgage rates hit 18.39%.

1980's Roller DiscoYikes!

It’s important to note that in those days, not many home buyers were opting for a 30-fixed loan because rates were so high. There were a lot of people looking at adjustable rate products as a way to reduce the monthly payment.

Just for fun, let’s look at what a monthly payment would look like if those same rates from 1981 existed today.

If rates were 18.39% today, a $350,000 home with a 20% down payment would have a monthly principal and interest payment of…

$4,309! Yikes!

Thank goodness rates aren’t that high today. They are actually about 15% lower!

Today’s 30-year rate sits at 3.83% (which by the way is roughly half of the long term average).

A monthly principal and interest payment on a $350,000 home with 20% down is…

$1,309. Three thousand dollars lower than it would be using 1981 ‘s rates.

 

For a detailed look at what’s happening across Colorado, request our quarterly market report called “The Gardner Report“, written by Windermere Real Estate’s Chief Economist, Matthew Gardner.

Posted on October 2, 2017 at 8:21 pm
Kyle Basnar | Category: Blog, Fort Collins Real Estate, Loveland Real Estate, Northern Colorado Real estate, Northern Colorado Realtor, Wellington Real Estate, Windsor Real Estate | Tagged , , , , ,

Luxury Living in Northern CO

Luxury Living

837 Glenn Ridge Dr Fort Collins CO 80524

Here are the top 5 most expensive home sales in Northern Colorado so far this year…

  1. $3.3 Million – a 16-acre estate near Pinewood Reservoir with 6 bedrooms, 8900 square feet, and black walnut floors
  2. $2.2 Million- a 9300 square foot home on 5 acres in Hidden Valley estates near Loveland
  3. $1.9 Million – a 8100 square foot home in the Harmony Club
  4. $1.9 Million – this 29-acre property between Berthoud and Loveland includes a 6000 square foot home and a 12,000 square-foot shop building
  5. $1.9 Million – a 9000 square foot home in SE Fort Collins which backs to open space and trails

Click HERE to see current luxury listings in Larimer County or click HERE to see current luxury listings in Weld County.

Posted on September 22, 2017 at 9:43 pm
Kyle Basnar | Category: Blog, Evans Real Estate, Fort Collins Real Estate, Friday Fun Facts, Loveland Real Estate, Northern Colorado Realtor, Wellington Real Estate | Tagged , , ,

Quality Home With Gorgeous Finishes

Featuring 3 Bedrooms, 2 Bathrooms And An Upgraded Kitchen With Hickory Floors!

Features a gorgeous kitchen with hickory floors, upgraded cabinets and a huge walk-in pantry. The master suite has his and her walk-in closets along with a five-piece master bath. Vaulted ceilings, rounded corners, a 3-car garage, central A/C, sprinkler system and a huge unfinished basement are bonus features you rarely find in a home at this price. Quality built by Sage.

For more information, please visit http://bornandraisedfoco.com/listing/58316963 or call Kyle Basnar at (970) 460-3033.

Posted on June 5, 2017 at 7:57 pm
Kyle Basnar | Category: Wellington Real Estate | Tagged , , , , , , , , , , , , , , ,