Timeless Elegance and Modern Luxury: A Gem in Erie Village

Are you searching for a home that seamlessly blends classic charm with high-end modern interiors? Look no further than 1279 Washburn Ave, Erie, CO 80516. This newly completed masterpiece by Porchfront Homes is move-in ready and offers a unique and elegant living experience. With a listing price of $1,150,000, this property is a true gem in the highly sought-after Erie Village neighborhood. From the moment you step inside, you'll be captivated by the attention to detail and sophisticated design. The kitchen is a chef's dream, featuring Onyx shaker cabinets, luminous Statuario quartz counters, and top-of-the-line plumbing and lighting fixtures. Equipped with a Verona stainless steel 6-burner dual fuel range oven, a pristine white farmhouse sink, and a spacious walk-in pantry, this kitchen is a haven for cooking and entertaining. The open-concept design of the kitchen, living, and dining areas creates a warm and inviting atmosphere. The space feels spacious and cozy with lofty 10' ceilings and white oak floors. A gas fireplace adds to the charm, and the living area seamlessly extends to the outdoor patio, making indoor-outdoor living a breeze in your fully landscaped and fenced backyard. The luxury primary bedroom suite is a spa-like retreat featuring a spacious walk-in shower, double vanities, and a grand walk-in closet. Vaulted ceilings and French doors leading to a private covered balcony add to the elegance of this space. Upstairs, you'll find three additional bedrooms, one with an en suite bath and a hall bathroom. But the surprises don't end there. A fully finished basement offers an extra bedroom, bathroom, and a rec room with a dry bar. If you need a versatile space for work or leisure, the upper-level loft covers you. Whether it's a home office, a homework area, or a cozy spot for relaxation, this loft provides endless possibilities. The home also boasts a convenient upper-level laundry room with cabinets and an oversized 614-square-foot garage, providing ample space for vehicles, storage, projects, or even a workshop paradise. A mudroom with built-ins and a desk keeps everything organized and clutter-free. This home truly combines classic beauty with modern living. Its timeless elegance, high-end finishes, and desirable location in Erie Village make it an exceptional find. Don't miss the opportunity to make this house your dream home.  

Mortgage Rates are Improving!

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now (see graph below):   And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future. As Dean Baker, Senior Economist at the Center for Economic Research, explains: “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards.” Here are two reasons why this recent trend, and the expectation it’ll continue, is such good news for you. You May Not Feel as Locked-In to Your Current Mortgage Rate With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. When mortgage rates were higher, moving to a new home meant possibly trading in a low rate for one up near 8%. However, with rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was. That makes moving more affordable than it was just a few months ago. As Lance Lambert, Founder of ResiClub, explains: “We might be at peak “lock-in effect.” Some move-up or lifestyle sellers might be coming to terms with the fact 3% and 4% mortgage rates aren’t returning anytime soon.” More Buyers Will Be Coming to the Market According to data from Bright MLS, the top reason buyers have been waiting to take the plunge into homeownership is high mortgage rates (see graph below):   Lower mortgage rates mean buyers can potentially save money on their home loans, making the prospect of purchasing a home more attractive and affordable. Now that rates are easing, more buyers are likely to feel they’re ready to jump back into the market and make their move. And more buyers mean more demand for your house. Bottom Line If you’ve been waiting to sell because you didn’t want to take on a larger mortgage rate or you thought buyers weren’t out there, the recent decline in mortgage rates may be your sign it’s time to move. When you’re ready, let’s connect.

Why Pre-Approval Is Your Homebuying Game Changer!

Why Pre-Approval Is Your Homebuying Game Changer If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why. While home price growth is moderating and mortgage rates have been coming down in recent weeks, affordability is still tight.  At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer. What Pre-Approval Does for You To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they’re willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this: “A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.” Getting pre-approved starts to put you in the mindset of seeing the bigger financial picture, one step at a time. And the key is actually more than just getting a pre-approval letter from your lender. The combination of pre-approval and strategic budgeting is your golden ticket to understanding what you can actually afford. It saves you from painful heartaches down the road so you don’t fall in love with a house that might be out of reach. Pre-Approval Helps Show Sellers You’re a Serious Buyer But that's just the beginning. Let’s face it, there are more people looking to buy than there are homes available for sale, and that creates competition among homebuyers. That means you could see yourself in a multiple-offer scenario when you get ready to make your move. But getting pre-approved for a mortgage can help you stand out from other buyers. In today's fast-moving housing market, having that pre-approval in your back pocket can be your secret weapon. When sellers see you're pre-approved, it tells them you're a strategic and serious buyer. In a world of multiple offers, that's a big deal. As an article from the Wall Street Journal (WSJ) says: “If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.” Pre-approval shows sellers you’re more than just a window shopper. You’re a buyer who’s already undergone a credit and financial check, making it more likely that the sale will move forward without unexpected delays or issues. Sellers love that because they see your offer as a reliable one. A win-win, right? Bottom Line So, before you start mentally arranging furniture in your dream home, work with a trusted lender to get your pre-approval set. It’ll save you time, stress, and a lot of headaches that could come up along the way without it. The reality is, the more prepared you are, the more likely you are to land the home you’re longing for.

Get Ready to Buy a Home by Improving Your Credit Score

Get Ready To Buy a Home by Improving Your Credit Score As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from CNBC explains: “When it comes to mortgages, a higher credit score can save you thousands of dollars in the long run. This is because your credit score directly impacts your mortgage rate, which determines the amount of interest you’ll pay over the life of the loan.” This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect. An article from Business Insider explains generally how your FICO score range can make an impact: “. . . you don’t need a perfect credit score to buy a house. . . . Aiming to get your credit score in the ‘Good’ range (670 to 739) would be a great start towards qualifying for a mortgage. But if you’re wanting to qualify for the lowest rates, try to get your score within the ‘Very Good’ range (740 to 799).” Working with a trusted lender is the best way to get more information on how your credit score could factor into your home loan and the mortgage rate. As FICO says: “While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders and there are many additional factors that lenders may use to determine your actual interest rates.” If you’re looking for ways to improve your score, Experian highlights some things you may want to focus on: Your Payment History: Late payments can have a negative impact by dropping your score. Focus on making payments on time and paying any existing late charges quickly. Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible. Credit Applications: If you’re looking to buy something, don’t apply for additional credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score. A lender will help you navigate the process from start to finish, from assessing which range your score falls in to telling you more about the specifics for each loan type. Bottom Line As you set your sights on buying a home in the upcoming year, a focus on boosting your credit score could help you get a better mortgage rate when the time comes. If you want to learn more, connect with a trusted lender.