A Window of Opportunity for Homebuyers

Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market.

As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales.

But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but to the most recent normal years to show how the current housing market is still strong.

Higher Mortgage Rates Are Moderating the Housing Market 

The ShowingTime Showing Index tracks the traffic of home showings according to agents and brokers. It’s also a good indication of buyer demand over time. Here’s a look at their data going back to 2017 (see graph below):

Here’s a breakdown of the story this data tells:

• The 2017 through early 2020 numbers (shown in gray) give a good baseline of pre-pandemic demand. The steady up and down trends seen in each of these years show typical seasonality in the market.

• The blue on the graph represents the pandemic years. The height of those blue bars indicates home showings skyrocketed during the pandemic.

• The most recent data (shown in green), indicates buyer demand is moderating back toward more pre-pandemic levels.

This shows that buyer demand is coming down from levels seen over the past two years, and the frenzy in real estate is easing because of higher mortgage rates. For you, that means buying your next home should be less challenging than it would’ve been during the pandemic because there is more inventory available.

Higher Mortgage Rates Slow the Once Frenzied Pace of Home Sales

As mortgage rates started to rise this year, other shifts began to occur too. One additional example is the slowing pace of home sales. Using data from the National Association of Realtors (NAR), here’s a look at existing home sales going all the way back to 2017. Much like the previous graph, a similar trend emerges (see graph below):

Learn more on Keeping Current Matters.

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Top Kitchen Design Trends to Consider for Your Renovation

Renovating is a time when the excitement of having a new kitchen space becomes heavy with choices and long-term decisions.

With so many options to choose from, the process can feel like more of a burden than a joy. But it doesn't have to be that way. By keeping up with the latest kitchen design trends, you can make sure your renovation is both stylish and practical. Here are some of the top kitchen design trends to consider for your next project.

Two-Tone Cabinetry
One of the hottest trends in kitchen design regardless of the overall design theme is two-tone cabinetry. This trend allows you to mix and match different colors and finishes to create a unique look for your kitchen. For example, you could pair white upper cabinets with dark lower cabinets or vice versa. Or, you could opt for a more dramatic look by pairing a bright color with a neutral shade.

Modern Looks
It's been years since modern kitchen design made a fiery comeback, and it's still going strong. Often marked by minimalism and a bit of an industrial edge, this style is perfect for those who want a clean and sleek space. This type of kitchen will typically feature very basic cabinetry, often replacing upper cabinets for custom shelving. Simple, easy-to-clean backsplash tiles and stone countertops give the space a no-fuss feel. These kitchens work best for those who don't need a lot of extra storage space and do relatively simple cooking.

Farmhouse Style
This kitchen design is perfect for those who love the rustic look. Often featuring shaker-style cabinetry and plenty of wood, farmhouse kitchens are warm and inviting. They exude a well-used vibe that gently conveys that we're all family here, and we're not going to sweat that you dropped that egg on the floor. If you're not fortunate enough to have an old beautiful farmhouse, don't fret, you can still get the look with custom cabinets made by craftsmen who know exactly how to get new cabinets to look like old cabinets.

Appliance Garage 
This is a great way to keep your small appliances hidden when they're not in use, but still easily accessible. It's perfect for those who like the aesthetic of purely decorative counter space, but still want the convenience of pulling out the toaster, coffee maker, or pressure cooker without digging for it.

Drawer Microwave 
This is a space-saving dream come true. The drawer microwave frees up counter space and can be placed at various heights, making it easier to use for everyone in the family.

Cabinet Pull-Outs 
Gone are the days when odd, narrow spaces were simply capped off with wood trim. Cabinet makers have invented ways of using every morsel of space in a kitchen by creating decorative pullout cabinets that craftily store bakeware, tall and narrow pantry items, and spices.

Under-Cabinet Lighting 
This is a must-have for any kitchen, as it not only looks great, but it's also functional. Under-cabinet lighting makes it easy to see what you're working on, no matter the time of day.

The above are just some trendy kitchen ideas that you can incorporate into your home renovation. While this list is just the beginning, it can help jumpstart your creative thinking and give your renovation team a base to build from.

Learn more on RISMedia.

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Colorado ranked No. 4 state for business by CNBC

Colorado is among the country's best places to do business, new rankings reveal.

To rank America’s Top States for Business in 2022, CNBC scored all 50 states on 88 metrics in 10 broad categories of competitiveness. Each category is weighted based on how frequently states use them as a selling point in economic development marketing materials. That way, our study ranks the states based on the attributes they use to sell themselves. We developed our criteria and metrics in consultation with a diverse array of business and policy experts, and the states. Our study is not an opinion survey. We use data from a variety of sources to measure the states’ performance. Under our methodology, states can earn a maximum of 2,500 points. The states with the most are America’s Top States for Business, according to AXIOS.

Driving the news: The Centennial State came in fourth on CNBC's 2022 list of the best states for businesses.

• Last year, we were ranked eighth.

Details: The state received high marks based on the strength of its workforce — at the top of the heap nationwide — as well as its education system, technology and innovation.

• Yes, but: We were docked points for our high cost of living, access to capital and cost of doing business. In that last category, Colorado ranks 36th nationwide.

Of note: North Carolina snagged the No. 1 spot — the state's first time at the top.

Get the full list here.

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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West + Main Homes Announces New Office Location in Salida, CO

Salida, CO

For immediate release:

West + Main Homes, Inc, is happy to announce its new office location in Salida CO. This new location will allow West + Main agents serving Chaffee, Park, Lake + Pitkin Counties to better assist their clients and serve the surrounding communities.

"I’m in love with Salida and the Sangre de Christos" said West + Main agent Mike Hanayik. "I'm looking forward to continuing to introduce folks to everything I enjoy about living here, and to helping locals make smooth moves and investments, too!"

"We are so excited to have a home base in Salida," said CEO Stacie Staub. "The level of interest in this area continues to grow, and we are thrilled to be a part of this amazing slice of Colorado.”

A little about Salida…

Salida is hugged by the cool Arkansas River and was first established in the 1800s as a stagecoach stop and later as a stop-over for travelers on the Denver & Rio Grande Railroad. Downtown Salida is on the National Register of Historic Places. It has the finest collection of historically significant buildings in the state and is Colorado’s largest historic district. A walk around the downtown district will bring this history to life. Salida is known as the “crossroads” or as its citizens prefer, the Heart of the Rockies!

About West + Main Homes:

Founded in 2017, West + Main is an independently owned and operated boutique Real Estate brokerage specializing in residential and commercial properties in Downtown Denver and across Colorado’s Front Range, Colorado Springs, the Western Slope and Grand County as well as greater Oklahoma City and Central Oregon.

Looking for a new brokerage to call home? We’d love to tell you more about West + Main Homes!

Work at West + Main

As always, if you want to have a conversation about buying or selling your home, we would love to help.

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This Weekend: Denver Metro Open Houses for July 29th-31st

Our agents are hosting Open Houses this weekend all over the Metro Denver. You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing!

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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