Littleton Real estate April National market update

Littleton Colorado Real estate Market update


Do you want the truth? Of course you do. Hey listen there is so much negative publicity out there about the Littleton housing market crashing and forecasts saying it’s looking close to what happened back in 2008.

Hello I’m David Novak with Re-Max professionals, we’re seeing headlines like cash out mortgage refis are back. Will homes become ATM’s again? Well it’s true, we do have a significant amount of home refis. But the amount of money being taken out is significantly lower than back in 2006, which was the highest since 2000. The amount of money being taken out now is 1/6 of the amount that was being taken out back then.

The headlines are not giving us the whole picture. What’s happening today is that Americans are taking out money from the equity in their homes to do things like send their kids to college, or paying off credit cards that have an 18% interest rate in comparison to their mortgage interest rate of 4%.

Another ad titled, consumer debt hits four trillion dollars. It does not show us how much debt each family has in comparison to how much they are making. But yes, four trillion is at an all time high, but how much debt a typical family has is really only 4.24% of their income. Which is a 40 year low, it’s lower today than it was in 1980 and probably even longer, because those numbers were not recorded until 1980. So if you look at the overall picture we are in the best position we have been in, in over 40 years as compared to disposable household income and debt.

So we are hearing all of this about a housing crash, we are finally coming in to a more normal market. This is what we really want, if you look over the last 10 months we’re seeing very small decreased in appreciation, not a crash. We are finally coming in to a more traditional appreciation. According to the home price expectation survey, which is made up of over 100 economists, real estate investors, and financial advisors they are showing a slow increase in appreciation. Like we’ve seen in the past, so please be careful what you hear on the news. They aren’t telling you all the facts. And if you’d like to get the real skinny about what’s happening in the local and the national real estate market, then call me today.

I’m David Novak with Re-Max professionals and I hope you have a great day.

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