Highlands Ranch is mainly a residential area. The housing market
is alive in this area. It has slowed down quite a bit in the last
few years and growth of house values is in single digits lately.
Realtors in Colorado, say housing is still in a
buyer's market, but that could mean great opportunity as prices
escalate. For sellers of course this means to either wait longer
before a house sells or to accept lower prices if forced to see
a quick sale.
There are many homes on the market right now - especially in certain
price ranges. Homes are not selling as quickly as they used to
4 years ago. Prices overall are still on a high level and the pressure
to lower prices across the board is not yet in the market. Some
analysts consider the Denver real estate market a 'bubble' with
the risk of a major reduction in prices looming at the horizon.
Other analysts do not see this scenario. The slower growth of prices
actually rather makes them consider the market leveling out on
a higher level and therefore reducing the risk of a bursting bubble
taking down the whole market.
Mortgage rates are still below long term averages but that could
change soon. That would force buyers into the market and could
lead to an increase in pricing. The Denver (and Highlands Ranch)
real estate market remains fairly robust because mortgage rates
are still relatively low, consumer confidence is returning and
there is significant job growth in the Denver employment market.
Overall - now is a great time to buy a new home. Interest rates
are low, but for how long is anybody's guess. If you're thinking
of upgrading, now's the time to have a garage sale, clear out the
clutter, ad some more shine to your palace, and get it ready for
sale. Make sure you look at the competition to see what they're
doing. Having an overpriced house on the market next to fair-priced
houses will make your (if you are the seller) sale a slow and time
consuming process
