Just Listed: Charming Orchard Residence with Vaulted Ceilings!

 
 
 

Amazing opportunity in sought after neighborhood, The Orchard.

This stunning residence boasts soaring vaulted ceilings highlighted with wood beams, creating an inviting atmosphere with character throughout. Featuring an ideal floor-plan with the spacious living room, dining room and kitchen all on the main level, this home is truly set up for easy updates with the buyer's personal touch. To add to the charm, the eat-in kitchen features the most delightful window encased dining nook that makes you feel like you are sitting in the backyard surrounded by nature. The kitchen overlooks the massive, yet cozy, great room with impressive vaulted ceilings and grounded with a wood-burning fireplace. Also on the lower level is an additional bedroom, perfect for guests or an office space, another 3/4 bathroom and conveniently located laundry room. Step outside onto the beautiful stamped concrete patio to the serene backyard oasis, featuring mature trees and lovely landscaping - ideal for outdoor gatherings or peaceful morning coffee. The upper level features three bedrooms and two bathrooms, including a generous primary suite with a recently remodeled 5 piece ensuite bath and wallk-in closet. The spacious private deck overlooking the backyard is the cherry on top of this ideal primary suite retreat. The basement offers endless possibilities to add another bedroom and/or bathroom or create the perfect flex space. Meticulously maintained by it's original owner, this home offers the ideal canvas with character for it's new resident's personal touch. Just blocks from the elementary school (Belleview), middle school (Campus) and high school (Cherry Creek) in the highly sought after Cherry Creek School District and around the corner from Cherry Creek Reservoir. Surrounded by $2M+ homes, you don't want to miss the opportunity to get into this amazing neighborhood!

Listed by Sarah Riggs for West + Main Homes. Please contact Sarah for current pricing + availability.

 
 
 

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West + Main Homes
(303) 935-8787
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Sarah Riggs
303-503-7186
riggs@westandmainhomes.com



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What does the Fed Cut mean for Mortgage Rates?

 
 

Today, the Federal Reserve cut its benchmark interest rate by 0.5%, marking the first reduction in over four years.

This shift shows the Fed’s focus has moved from fighting inflation to supporting the slowing job market. While inflation has eased since its peak in 2022, the Fed is now concerned about rising unemployment. The rate is now down to 4.8% and could drop further by the end of the year as the Fed works to make borrowing cheaper.

For mortgages, this cut could lead to lower interest rates for both home loans and refinancing. Mortgage rates don’t directly follow the Fed, but they’re influenced by moves like this, especially through bond yields. As borrowing costs decrease, more people may be able to afford homes or refinance their existing mortgages at lower rates, potentially reducing their monthly payments. With more cuts expected, the outlook for mortgage borrowers looks promising in the months ahead.

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The Latest Builder Trend: Smaller, Less Expensive Homes

 
 

Even though affordability is improving, buying a home can still feel tough right now.

But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you’re worried about finding a home that’s right for your budget. 

Builders Are Building Smaller Homes 

During the pandemic, homebuyers were looking for larger homes—and many could afford them. Builders responded to that demand and created bigger spaces to help people with things like working from home, setting up home gyms, and having extra rooms for virtual school.

Now, with affordability as tight as it is, builders are turning their focus to smaller single-family homes. Data from the Census shows how significant this trend toward smaller new homes has been over the last couple of years (see graph below):

 
 

But why would builders want to build smaller homes right now? At the end of the day, builders are going to focus on building homes that meet current market demand – because they want to build what they know will sell. And the number one thing homebuyers are looking for right now is better affordability. Since smaller homes typically come with smaller price tags, both buyers and builders have shifted their focus to homes with less square footage. The National Association of Home Builders (NAHB) reports:

 “. . . home buyers are looking for homes around 2,070 square feet, compared to 2,260 20 years ago.” 

And according to Orphe Divounguy, Senior Economist at Zillow:

“Not only are cash-strapped buyers continually seeking out lower-cost options, but developers are changing what type and size of home they’re producing to try and meet that need.” 

How a Newly Built Home Can Help You Achieve Your Homebuying Goals

So, if you’re having a hard time finding something in your budget, it may be time to look at brand-new homes that have a smaller footprint. When you do, you may get a few other fringe benefits that can help on the affordability front – like price reductions or mortgage rate buy-downs.

According to the most recent data from Zonda, more than half of builders are offering incentives, some of which are mortgage rate buydowns. And those perks could help lower your future monthly housing payment too. John Burns, CEO of John Burns Research & Consulting, shares:

The monthly payment matters more than anything else and builders have responded with smaller, more efficient homes.”

Not to mention, with new home construction, you’ll also get brand new everything, have fewer maintenance needs, and get some of the latest features available. That’s worth looking into, right?

Bottom Line

With builders focusing on smaller homes, you have more budget-friendly options when it matters most. If you're thinking about buying a home soon, work with a local real estate agent to see what’s available where you want to live.

Read more at KeepingCurrentMatters.com

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Just Listed: Urban Charm Meets Modern Living!

 
 
 

Urban Living at its finest!

This 4-Bed, 2-Bath Half Duplex is what you’ve been looking for; Modernized 1909 charmer in one of the most versatile locations in the city. High Ceilings and beautiful crown molding appoint the three bedrooms on the top level. Spacious Primary Bedroom with great closet space. Bedrooms two and three are inviting and private, perfect for guests or office. Open-concept main floor living area with beautifully exposed brick and an updated kitchen leading through the dining area into cozy living space with fireplace. Basement laundry, and a non-conforming 4th bedroom great for playing music or home theater. Private, low maintenance backyard with flagstone patio great for outdoor entertaining. This home is close to EVERYTHING! Quick and easy access to the shops and restaurants of South Broadway, close to Washington Park, Baker, bike paths and I-25; all within a mile of your front door! Whole Foods, Trader Joes, Natural Grocers and Safeway all less than a mile away. Cherry Creek, South Pearl and Downtown less than 10 minutes away. Access to so many different areas that is hard to beat. Come and see it today!

Listed by John Chapman for West + Main Homes. Please contact John for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(303) 935-8787
hello@westandmain.com

Presented by:
John Chapman
303-523-2262
chapman@westandmain.com



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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 yesterday the Federal Reserve cut 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 . . . Falling rates will also bring more sellers into the market.”

The best part? You can take advantage of that renewed buyer interest.

As Rates Fall, Buyer Activity Goes Up

The graph below illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the Mortgage Bankers Association (MBA) 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) rises, showing more people start to re-engage in the process (see graph below):

 
 

What This Means for You

According to the National Association of Realtors (NAR), home sales increased in July, which was a welcome shift after four straight months of declines. 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 Seiler, AVP of Housing Economics at the Mortgage Bankers Association (MBA), this trend is expected to continue:

“MBA 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 sell.

Bottom Line

The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue. Work with a local real estate agent to take advantage of this increased buyer demand and get your house ready to sell.

Read more at KeepingCurrentMatters.com

Related Links

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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