Barb Schlinker The Real Estate Voice

The number 1 question we get when teaching our Home Buyer Seminars is …Are we in a real estate bubble? Not only was Colorado Springs ranked the top real estate markets to buy a home, but even national experts such as Core Logic predict home values will continue to increase for the next 5 years. Industry experts are predicting that interest rates will rise. When home buyers must pay higher Interest rates, it means they will have higher payments and homes will be less affordable.  The out of pocket costs to buying a home are very low. You do not have to have perfect credit but with good credit with a score above 640, you buy a home with only $1000 down.  We have a great graph that outlines the cost of waiting to buy a home. Even with a tiny bump in interest rates it could mean $100 more a month and $32,000 over the life of the loan in order to own a home. The market is also impacted by rising interest rates. Even a small jump in interest rates affects home sales by reducing the amount of homes sold and the home