MONTROSE $949.990 124326040 Road 3 Beds 13 Baths 12.595 sq. ft. Kree Christie, 970 275.3153 BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES The Average Days on Market in Montrose has Increased over 12% compared to last year. If you'd like more Information about the value of your home, give us a call today. 12% FALLING MORTGAGE RATES ARE BRINGING BUYERS BACK if you've been hesitant to list your house because you're worried no one's buying, here's your sign it may be time to talk with an agent After months of high rates keeping buyers on the sidelines, things are starting to shift Rates are already coming down due to a number of economic factors. And last week the Federal Reserve out the Federal Funds Rate for the first time since they began raising that rate in March 2022 And while they don't control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market Lisa Sturtevant Chief Economist at Bright MLS says: "A drop in the cost of borrowing will help fuel more homebuyer demand...Faling rates will also bring more selers into the market" The best part? You can take advantage of that renewed buyers Mortgage Demand Rises When Rates Fall Mortgage Application Composite Index 30-Year Fixed Mortgage Rate May-Sept WHAT THIS MEANS FOR YOU AS RATES FALL, BUYER ACTIVITY GOES UP This graph Bustrates the relationship between falling mortgage rates and rising buyer activity. The orange ine represents the average 30-year fixed mortgage rate while the blue line shows the Mortgage Bankers Association (VBA) Mortgage Application index, which tracks the number of mortgage applications As you can see, as mortgage rates (orange) come down, the Mortgage Application index (blue) nes showing more people start to re-engage in the process According to the National Association of Realtors (NAR), nome sales increased in July, which was a welcome snit after four straight months of decines if you're a homeowner thinking about selling this uptick in buyer activity works in your favor More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And according to Edward Seller, AVP of Housing Economics at the Mortgage Bankers Association (MBA), third is expected to continue VBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market" All in all the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours. With more buyers entering the market now's the time to start getting your house ready to sel Monthly Loan Amount $400,000 HOW DOES THIS AFFECT YOUR MONTHLY $600,000 7.52% $2.802.34 $4,203.51 $3.643.72 6.12% Savings $2.429.15 $373.19 5559.79 BUDGET? $800.000 $5.60468 $4.858.30 $746.38 The recent decine in mortgage rates is already dnving more buyers into the market and experts project this trend will continue Let's work together ke advantage of this increased buyer demand and get your house ready to sell BOTTOM LINE bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers: Tren Unrein, Brian Unrein, Don Bailey Jeff Kentu Kree Christie, Linda Stell, Makaya Cervone. Michael Scott Dosch, Heidi Lutz Mehdi Sepa and Donna Justin MONTROSE $ 949.990 124326040 Road 3 Beds 13 Baths 12.595 sq . ft . Kree Christie , 970 275.3153 BERKSHIRE HATHAWAY HOMESERVICES COLORADO PROPERTIES The Average Days on Market in Montrose has Increased over 12 % compared to last year . If you'd like more Information about the value of your home , give us a call today . 12 % FALLING MORTGAGE RATES ARE BRINGING BUYERS BACK if you've been hesitant to list your house because you're worried no one's buying , here's your sign it may be time to talk with an agent After months of high rates keeping buyers on the sidelines , things are starting to shift Rates are already coming down due to a number of economic factors . And last week the Federal Reserve out the Federal Funds Rate for the first time since they began raising that rate in March 2022 And while they don't control mortgage rates , this sets the stage for mortgage rates to fall even further than they already have especially since more cuts from the Fed are expected into next year . And lower mortgage rates are bringing more buyers back into the market Lisa Sturtevant Chief Economist at Bright MLS says : " A drop in the cost of borrowing will help fuel more homebuyer demand ... Faling rates will also bring more selers into the market " The best part ? You can take advantage of that renewed buyers Mortgage Demand Rises When Rates Fall Mortgage Application Composite Index 30 - Year Fixed Mortgage Rate May - Sept WHAT THIS MEANS FOR YOU AS RATES FALL , BUYER ACTIVITY GOES UP This graph Bustrates the relationship between falling mortgage rates and rising buyer activity . The orange ine represents the average 30 - year fixed mortgage rate while the blue line shows the Mortgage Bankers Association ( VBA ) Mortgage Application index , which tracks the number of mortgage applications As you can see , as mortgage rates ( orange ) come down , the Mortgage Application index ( blue ) nes showing more people start to re - engage in the process According to the National Association of Realtors ( NAR ) , nome sales increased in July , which was a welcome snit after four straight months of decines if you're a homeowner thinking about selling this uptick in buyer activity works in your favor More buyers means more competition , which can lead to higher offers and shorter time on the market for your house . And according to Edward Seller , AVP of Housing Economics at the Mortgage Bankers Association ( MBA ) , third is expected to continue VBA is expecting that slower home - price appreciation , coupled with lower rates , will ease affordability constraints and lead to increased activity in the housing market " All in all the market is becoming more accessible to a wider range of buyers , which could result in even more people looking to purchase a house like yours . With more buyers entering the market now's the time to start getting your house ready to sel Monthly Loan Amount $ 400,000 HOW DOES THIS AFFECT YOUR MONTHLY $ 600,000 7.52 % $ 2.802.34 $ 4,203.51 $ 3.643.72 6.12 % Savings $ 2.429.15 $ 373.19 5559.79 BUDGET ? $ 800.000 $ 5.60468 $ 4.858.30 $ 746.38 The recent decine in mortgage rates is already dnving more buyers into the market and experts project this trend will continue Let's work together ke advantage of this increased buyer demand and get your house ready to sell BOTTOM LINE bhhscolorado.com 1970.249.4663 Real estate services in Montrose and beyond ! 11 Offices and over 160 real estate brokers Call one of our trusted real estate brokers : Tren Unrein , Brian Unrein , Don Bailey Jeff Kentu Kree Christie , Linda Stell , Makaya Cervone . Michael Scott Dosch , Heidi Lutz Mehdi Sepa and Donna Justin